Document:

EXHIBIT 10.1

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         THIS TECHNOLOGY LICENSE AGREEMENT made and entered into at Austin,
Texas, effective this 30th day of April, 2001, by and between Direct Wireless
Corporation, a corporation organized under the laws of the State of Texas with
its principal place business at 106 E. 6th Street, Suite 650, Austin, Texas
78701 (hereafter referred to as "Licensor") and the Direct Wireless
Communications, Inc., a Texas corporation with its principal place of business
at 106 E. 6th Street, Suite 645, Austin, Texas 78701 (hereafter referred to as
"Licensee").

         WHEREAS, LICENSOR is the owner of all right, title and interest in and
to certain wireless communications technology more fully described herein
(hereafter the Technology), and

         WHEREAS, LICENSOR intends to further develop the Technology, including
(but not be limited to) additions, modifications and enhancements of the
Technology, trade secrets, know-how, technical information and expertise, and

         WHEREAS, LICENSEE desires to license directly from LICENSOR the
Technology in and for the continental United States.

         NOW, THEREFORE, for and in consideration of the faithful performance of
the covenants, and obligations contained herein by the parties hereto, and other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties, intending to be legally bound, agree as follows:

                                    ARTICLE 1
             General Definitions and Relationships among Definitions

The terms contained in this Agreement shall have the meaning set forth in this
Article 1.

         1.01 LICENSOR and LICENSEE are hereunder commonly referred to as
"parties" (in singular and plural usage, as required by the context).

         1.02 LICENSED TECHNOLOGY shall mean and include all licensed KNOW-HOW,
TRADE SECRETS, LICENSED PATENTS, PATENT RIGHTS, IMPROVEMENTS, LICENSED PRODUCTS,
LICENSED COMMUNICATIONS PROTOCOLS AND LICENSED METHODS.

         1.03 KNOW-HOW shall mean the engineering, design, and operational
techniques possessed by LICENSOR relating to the engineering specifications,
manufacture, and operational performance of the LICENSED TECHNOLOGY, which are
applicable within the LICENSED FIELD.

         1.04 LICENSED FIELD shall mean the field of wireless communication
systems, wireless communication products, wireless communications protocols and
wireless communication methods.

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         1.05 LICENSED PATENTS means PATENTS and PATENT RIGHTS which relate to
inventions in or applicable to the LICENSED PRODUCT OR LICENSED METHOD within
the LICENSED FIELD and which are owned or controlled by LICENSOR during the term
of this Agreement, or in respect to which LICENSOR has or may acquire during the
term of this Agreement the right to grant licenses of the scope to be granted in
this Agreement.

         1.06 PATENT RIGHTS shall mean U. S. Patent No 5,995,849, filed November
26, 1997 and granted on November 30, 1999, U.S. Patent No. 6,141,531, filed
April 17, 1998 and granted on October 31, 2000, U.S. Patent Application No.
800416 filed on June 1, 2000, International Application No. PCT/US98/13972,
filed July 6, and any applications on inventions or IMPROVEMENTS based upon the
LICENSED TECHNOLGY as well as any related application(s), more specifically, any
continuation, divisional, continuation-in-part of substitution applications, and
any foreign or domestic applications, corresponding to or based in whole or in
part, on any of the above within the LICENSED FIELD.

         1.07 IMPROVEMENTS shall mean improvements to and/or of LICENSED
TECHNOLOGY, whether or not patentable, which during the continuance of this
Agreement are made, conceived or acquired by either party or to which either
party obtains rights which it can provide to the other without obligation to
third parties, including changes made for the purpose of improving the
operation, efficiency, manufacturability or deployment of the LICENSED PRODUCT
or LICENSED METHOD within the LICENSED FIELD.

         1.08 LICENSED PRODUCT shall mean any and all products which employ or
are produced by the practice of inventions claimed in the LICENSED PATENTS or by
the LICENSED TECHNOLOGY or any and all products that are used to carry out the
LICENSED METHOD including but not limited to fixed base units known as Network
Extenders and mobile units (also known as transmitter, transceivers, receivers
or wireless handsets), repeaters (also known as signal extenders), wireless
communications operational protocols, batteries, battery recharge units,
specialized antennae, firmware and software.

         1.09 LICENSED METHOD shall mean any method, process or wireless
communications operational protocol covered by the LICENSED TECHNOLOGY and
includes, but is not limited to, any method process or wireless communications
operational protocol covered by a LICENSED PATENT.

         1.10 AFFILIATES of LICENSEE shall mean any corporation, partnership,
joint venture or other entity that LICENSEE owns or controls, directly or
indirectly. 1.11 Designated Territories shall mean the continental United
States.

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         1.12 Effective Date shall mean the date first above written.

         1.13 MARKET System shall mean a complete and fully operational
telecommunications system using the LICENSED Technology and shall include all
equipment used thereon and other ancillary devices, equipment and materials,
including without limitation, the LICENSED PRODUCTS.

         1.14 EXHIBITS are those attachments referenced in this Technology
License Agreement and are incorporated into this Technology License Agreement by
reference.

         1.15 EXHIBIT A is a license from LICENSOR to LICENSEE for any current
or future licensed TRADEMARKS of the Direct Wireless Communication System.

         1.16 EXHIBIT B is a map of the continental United States.

                                    ARTICLE 2
                                    Warranties

         2.01 LICENSOR represents and warrants that, to the best of its
knowledge and belief that it is the owner of the entire right, title and
interest in and to the LICENSED TECHNOLOGY, and that it has the sole right to
grant licenses there under, and that it has not knowingly granted licenses there
under to any other entity within the DESIGNATED TERRITORIES that would restrict
rights granted hereunder except as stated herein.

         2.02 Nothing in this Agreement shall be construed as:

         (a)      A warranty or representation by LICENSOR as to the validity or
                  scope of any LICENSED PATENTS or PATENT RIGHTS except as is
                  specifically granted to LICENSOR within patents already issued
                  within the United States and as granted by such statutes as
                  are applicable to the issued patents; or

         (b)      A warranty or representation that anything used, sold or
                  otherwise disposed of under any licenses granted in this
                  Agreement, is or will be free from infringement of patents of
                  third parties; or

         (c)      An obligation to bring or prosecute actions or suits against
                  third parties for infringement.

         2.02 LICENSOR EXPRESSLY DISCLAIMS ANY AND ALL IMPLIED OR EXPRESS
WARRANTIES AND MAKES NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR
FITNESS FOR ANY PARTICULAR PURPOSE OF THE TECHNOLOGY, LICENSED PROCESSES OR
LICENSED PRODUCTS CONTEMPLATED BY THIS AGREEMENT. Further LICENSOR has made no
investigation and makes no representation that the related Technology supplied
by it or the methods used in making or using such materials are free from
liability for patent infringement.

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                                    ARTICLE 3
                                  License Grant

         3.01 During the term hereof, LICENSOR hereby grants to LICENSEE an
exclusive license to use, sell and sub-license under the terms hereof, the
LICENSED PRODUCTS and LICENSED METHODS embodying, made or used in accordance
with the LICENSED TECHNOLOGY in the continental United States. 3.02 LICENSOR
further agrees to grant to LICENSEE licenses of the scope specified herein with
respect to patents on any IMPROVMENTS as to which LICENSOR shall have the right
to grant such licenses on IMPROVEMENTS without additional payment to LICENSOR.

         3.03 LICENSOR further agrees to share with LICENSEE under commercially
appropriate terms and conditions, know-how, trade secrets and other developments
which LICENSOR, at any time during the term hereof comes to believe or has
reason to believe may enhance LICENSEE's realization of the fullest potential
application of the exclusive license created hereby, whether or not such
technology is patentable.

         3.04 LICENSEE agrees to direct its sales, marketing and sub-licensing
activities in the continental United States and agrees not to knowingly sell,
use or employ the LICENSED Technology outside of such Territory.

                                    ARTICLE 4
                           Consideration/Royalty Rate

         4.01 LICENSEE agrees to pay to LICENSOR as the Initial License Fee the
following:

         (a)      Shares of common stock of Licensee in the amount of 1,489,633
                  shares transferred upon execution hereof

         (b)      The sum of $10,000,000, to be paid in such amounts and at such
                  times over the course of the term of this LICENSE AGREEMENT as
                  Direct Wireless Communications, Inc. receives money from the
                  sale or sales of a SUB-LICENSE or SUB-LICENSES for the United
                  States or from any sale or sales of equity in Direct Wireless
                  Communications, Inc. made expressly for that purpose.

         4.02 LICENSEE further agrees to pay to LICENSOR a royalty amount of 30%
on all fees collected for all LICENSED PRODUCTS sold by, placed into commerce or
otherwise disposed of by LICENSEE.

         4.03 Royalties due under Paragraph 4.02 above shall accrue when an
apparatus comprising the LICENSED PRODUCT has been shipped or invoiced by
LICENSEE, whichever occurs first.

         4.04 LICENSEE shall be entitled to a credit against future royalties
due under this Technology License Agreement for bona fide returns of the
LICENSED PRODUCTS, which return would decrease the total number of LICENSED
PRODUCTS in commerce. LICENSEE shall provide reasonable documentation supporting
the credit deduction.

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                                    ARTICLE 5
                          Royalty Reports and Payments

         5.01 LICENSEE shall report to LICENSOR at the address to which notice
is to be given specified in Article XI, in writing, on or before the 20th day of
each month the number of LICENSED PRODUCTS in commerce for the preceding month.
If royalties shall have accrued hereunder in such month, each such report shall
include a computation of the royalties so accrued, including the model number
and serial number of each apparatus incorporating LICENSED PRODUCTS that have
been sold or otherwise put into service during such month and a computation of
the total royalties for such month at the rate set forth in Paragraph 4.02
hereof; and the credit due LICENSEE for returns, if any, against such royalties.
An officer of LICENSEE shall certify that such report is computed in compliance
with the contractual requirements of this agreement and that LICENSEE is not in
default under the terms and conditions.

         5.02 Royalties set forth in Paragraph 4.02 on LICENSED PRODUCTS shall
be due and payable on or before the 20th day of each month for the preceding
month at the address to which notice is to be given specified in Article IX.
Each report required under Paragraph 5.01 hereof shall be accompanied by payment
in full for all royalty therein shown to be due. LICENSEE shall pay LICENSOR
interest at the rate of fifteen percent (15%) per annum on all royalties not
paid when due provided however, such interest, in no event, shall exceed the
Maximum Legal Rate and shall be automatically reduced to the Maximum Legal Rate
and, if any sums which exceed the Maximum Legal Rate are paid, LICENSOR at
LICENSOR' s option, shall refund such over payment or apply the same to the
principal royalties due hereunder In the event past due royalties are collected
through bankruptcy or through judicial proceedings by an attorney or placed in
the hands of an attorney for collection, LICENSEE agrees to pay a reasonable
attorney's fee for collection

         5.03 All Payments made by LICENSEE to LICENSOR under this Technology
License Agreement shall be paid to LICENSOR free and clear of all taxes,
including income, withholding, sales, turnover or other taxes applicable to the
operations of LICENSEE.

                                    ARTICLE 6
                                BOOKS AND RECORDS

         6.01 LICENSEE shall maintain true and accurate books and records in
sufficient detail to determine all payments due LICENSOR.

         6.02 LICENSOR shall, upon written request to LICENSEE be entitled to
inspect pertinent books and records of LICENSEE once each calendar quarter
following thirty (30) days from end of the respective quarter to determine the
accuracy and completeness of any report made to LICENSOR or to be rendered
pursuant to Article V of this Technology License Agreement. In the

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event such examination reveals a discrepancy of more than five percent (5%) of
the royalties actually paid by LICENSEE during the period covered by the
examination, the cost of examining the books will be borne by LICENSEE. LICENSEE
shall not be required to retain any such books, records and accounts for a
period of more than three (3) years after the close of the period to which such
books, records and accounts relate.

                                    ARTICLE 7
                            CONFIDENTIAL INFORMATION

         7.01 LICENSEE shall safeguard the LICENSED TECHNOLOGY obtained
heretofore or hereafter against unauthorized disclosure and shall reveal such
information only to its employees having a need to know and only pursuant to an
agreement with its employees to maintain such information confidential. In this
regard, LICENSEE agrees not to disclose, either during or after the term of this
Technology License Agreement, any confidential information of LICENSOR obtained
by LICENSEE during the term hereof, and further agrees not to use any
confidential information to the detriment of LICENSOR in any way other than as
authorized by LICENSOR.

         7.02 LICENSOR agrees not to disclose, either during or after the term
of this Technology License Agreement any confidential information of LICENSEE,
which LICENSEE has obtained during the term hereof, and further agrees not to
use any such confidential information to the detriment of LICENSEE in any way
other than as authorized by LICENSEE.

         7.03 Neither LICENSOR and its Affiliates nor LICENSEE and its
sub-licensees shall be obligated to maintain the confidence of:

         (a)      Information which is, or subsequently has been introduced into
                  the public domain through no act or omission of the receiving
                  party, its employees, agents, successors or assigns.

         (b)      Information which was lawfully disclosed to the receiving
                  party by a third party having the right to disclose such
                  information.

         (c)      Information which was already known by the receiving party at
                  the time of the disclosure or was independently developed by
                  the receiving party.

         (d)      Information that is required to be disclosed to a government
                  agency.

                                    ARTICLE 8
                        Term of Agreement and Termination

         8.01 The term of this Agreement shall extend from the Effective Date
and shall continue in force unless terminated as herein provided.

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         8.02 LICENSOR may at its option terminate this Agreement by written
notice to LICENSEE upon the occurrence of any of the following events:

         (a)      LICENSEE fails to make timely payment of any amount due
                  (including, but not limited to the supplemental royalty
                  payments described in Article VI above or the royalties
                  described in Article V) or shall fail to perform any other
                  obligation under this Agreement and said failure shall
                  continue for a period of thirty (30) days after written notice
                  from LICENSOR to LICENSEE of such failure;

         (b)      In the event that LICENSEE shall dissolve, cease active
                  business operations, or liquidate; provided, however that this
                  provision shall not be applicable to any such occurrence which
                  is incident to any merger or consolidation by LICENSEE with or
                  into, or a sale or other transfer by LICENSEE of substantially
                  all of its assets to, a person firm or corporation, if such
                  person, firm or corporation expressly assumes and agrees to
                  perform all of Licensee's obligations under this Agreement and
                  LICENSOR agrees to this arrangement in writing.

         (c)      This Agreement shall terminate automatically if LICENSEE shall
                  become bankrupt or insolvent and/or if the business of
                  LICENSEE shall be placed in the hands of a receiver, assignee,
                  or trustee, whether by voluntary act of LICENSEE or otherwise.

         (d)      In the event that management of LICENSEE changes from the
                  management currently managing the operations of the LICENSEE.

         8.03 This Agreement shall terminate at the option of the non-breaching
party if either party fails to perform or fulfill any obligation or condition
required to be performed or fulfilled by it, in the time and manner herein
provided, or materially breaches this agreement in any manner, and, if such
default or breach shall continue for thirty (30) days after written notice
thereof the non-breaching or defaulting party shall have the right to terminate
this Agreement. If such breach is of a nature that it cannot be cured within
said thirty (30) day period but can be cured within a reasonable time
thereafter, then the non-breaching or defaulting party may terminate this
Agreement if efforts to cure such breach have not commenced or such efforts are
not proceeding and being continued diligently both during and after such thirty
day period prior to the breach being cured. Such rights to terminate the license
granted by this Technology License Agreement shall be in addition to and shall
not be prejudicial to any right or remedies, at law or in equity that said other
party may have on account of such default.

         8.04 Upon termination of this Agreement for any cause, nothing herein
shall be construed to release either party of any obligation matured prior to
the effective date of such termination. LICENSEE may, after the effective date
of such termination, sell all LICENSED PRODUCTS that it may have on hand at the
date of termination, provided that it pays earned royalties thereon as

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provided in this Agreement.

         8.05 Waiver by either party hereto of a particular instance of any of
its rights hereunder shall not be considered as a continuing waiver of the
rights or of any other rights hereunder.

                                    ARTICLE 9
                                   Sub-License

         9.01 Subject to the reasonable approval of LICENSOR, LICENSEE shall,
subject to the terms and conditions set forth herein including the Royalty
Provisions and the Termination Provisions, have the right to sub-license the
rights granted to LICENSEE hereunder to a qualified third party.

                                   ARTICLE 10
                                   Assignment

         10.01 This Agreement nor any part thereof shall not be assigned by
LICENSEE without the prior written consent of LICENSOR.

                                   ARTICLE 11
                                  Miscellaneous

         11.01 LICENSEE shall not distribute or release the LICENSED PRODUCTS or
the LICENSED TECHNOLOGY to others except to further the purposes of this
Technology License Agreement.

         11.02 During the term of this Agreement, LICENSOR will pay for all
government fees associated with the procurement and maintenance of the PATENT
RIGHTS.

         11.03 LICENSEE shall indemnify and hold LICENSOR harmless against any
and all claims for loss, damage, or injuries in connection with or arising out
of (1) use by LICENSEE, its directors, employees, contractors, subcontractors1
or agents or by third parties of the LICENSED PRODUCTS or the LICENSED
TECHNOLOGY, or (2) the design, manufacture, distribution or use of any licensed
processes or Licensed Devices or other products developed in connection with or
arising out of the Related Technology. Such indemnity shall include all costs
and expenses, including attorney's fees and any costs of settlement. LICENSEE
shall name LICENSOR as an additional named insured on its product liability
insurance that shall be maintained at a level deemed by LICENSEE to be
reasonable.

         11.04 LICENSEE and/or subsequent sub-licensees through Agreements and
Contracts agree not to seek, secure or engage in the sale, transfer or shipping
of the LICENSED PRODUCTS or the LICENSED TECHNOLOGY outside the continental
United States, and further understanding that such practices constitute a breach
of this AGREEEMENT and the immediate

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forfeiture of all rights and privileges extended to the LICENSEE under this
AGREEMENT. The LICENSEE will defend and hold LICENSOR harmless in the event of
any legal action of any nature occasioned by such violation of United States
Department of Commerce export and shipping statutes either by the actions of the
LICENSEE or that of their sub-licensee..

         11.05 Should a court of competent jurisdiction later consider any
provision of this Technology License Agreement to be invalid, illegal, or
unenforceable, it shall be considered severed from this Technology License
Agreement. All other provisions, rights and obligations shall continue without
regard to the severed provision, provided that the remaining provisions of this
Technology License Agreement are in accordance with the intention of the
parties.

         11.06 During the term of this Technology License Agreement, should
either LICENSOR or LICENSEE hereto become aware of any infringement by others
upon the Patent Rights that LICENSOR has licensed to LICENSEE herein:

         (a)      It shall make the other party hereto aware of such
                  infringement; and

         (b)      Only at the discretion of the LICENSOR may the LICENSEE also
                  have the right to initiate litigation for the purpose of
                  terminating such infringement. Sub-licensees are excluded from
                  this right under this Agreement. In doing so, the initiating
                  party has the right to join the other party claiming an
                  interest in the Patents or Patent Rights as a party to such
                  litigation. If both parties elect to share equally in the
                  costs of the litigation, proceeds from such litigation shall
                  be shared equally.

         (c)      In the event that the other party does not elect to share in
                  the costs of the litigation, after receipt of such notice of
                  such infringement from the initiating party, then the
                  initiating party, subject to clause (b) above, shall have the
                  right, at its discretion, to terminate such infringement, at
                  its sole cost and expense and, in such event, all proceeds of
                  such litigation shall be retained by the initiating party.

         11.07 This Technology License Agreement shall be binding upon and inure
to the benefit of the successors, legal representatives and assignees of
LICENSOR and LICENSEE, provided, however, that LICENSOR shall not assign this
Technology License Agreement to another party without prior written approval of
LICENSEE, which approval shall not be unreasonably withheld.

         11.08 This Technology License Agreement (including all exhibits
attached hereto), together with all other writings executed and delivered
contemporaneously herewith, constitute the entire Agreement of the undersigned
Parties with respect to the subject matter hereof. No prior written or
contemporaneous oral agreements, promises, or representations shall be binding
upon the Parties hereto. This Technology License Agreement shall not be amended,
supplemented, replaced or otherwise modified in any

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respect except by written instrument signed by the authorized representatives of
the Parties. Sub-licensee have no standing in this Agreement except as
specifically prescribed within such Agreements as have been executed with the
LICENSEE and subsequently approved by the LICENSOR.

         11.09 Notice Address: Any notice hereunder shall be deemed to have been
sufficiently given or served if sent by Certified Mail, Return Receipt
Requested, at the address of LICENSOR and LICENSEE as first set forth above.
Either party may, at any time and from time to time, change the address to which
notice shall be given hereunder to the other party given by notice under this
paragraph. The date of giving such notice shall be the date of the posting of
the mail.

         IN WITNESS WHEREOF, the parties hereto have caused this document to be
executed in their respective corporate name by their officers duly authorized
thereunto on the day and year first above set forth.

DIRECT WIRELESS CORPORATION

         /s/ Robert S. Braswell, IV
         --------------------------
By:      Robert S. Braswell, IV
         --------------------------
Title:   President
         --------------------------

DIRECT WIRELESS COMMUNICATIONS, INC.

         /s/ Bill G. Williams
         --------------------------
By:      Bill G. Williams
         --------------------------
Title:   Chief Executive Office
         --------------------------

                                      E-31EXHIBIT 10.1

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                        SAVVIS COMMUNICATIONS CORPORATION

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

                          SECURITIES PURCHASE AGREEMENT

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

                                  MAY 16, 2001

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                                TABLE OF CONTENTS

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ARTICLE I             Authorization and Sale of the Notes...............................................2

         Section 1.01.     Authorization................................................................2

         Section 1.02.     Sale of Notes................................................................2

         Section 1.03.     Closings; Deliveries.........................................................4

                  (a)      Closing......................................................................4

                  (b)      Closing Deliveries...........................................................4

                  (c)      Grant of Security............................................................4

         Section 1.04.     Description of the Notes.....................................................4

                  (a)      Conversion of Notes into Common Stock........................................4

                  (b)      Automatic Conversion of Notes into Preferred Stock...........................5

                  (c)      Redemption...................................................................6

                           (i)      At Maturity.........................................................6

                           (ii)     Upon Change of Control..............................................6

                  (d)      Prepayment...................................................................6

                  (e)      Interest.....................................................................7

                           (i)      Payment.............................................................7

                           (ii)     Default in Payment..................................................7

ARTICLE II            REPRESENTATIONS AND WARRANTIES OF THE COMPANY.....................................7

         Section 2.01.     Organization and Qualification...............................................7

         Section 2.02.     Subsidiaries.................................................................7

         Section 2.03.     Capitalization...............................................................8

         Section 2.04.     Authorization of Agreements, etc.............................................8

         Section 2.05.     Validity....................................................................10

         Section 2.06.     Governmental Approvals......................................................10

         Section 2.07.     Financial Statements........................................................10

         Section 2.08.     SEC Filings.................................................................11

         Section 2.09.     Absence of Certain Changes or Events........................................11

         Section 2.10.     Actions Pending.............................................................12

         Section 2.11.     Compliance with Law; Permits................................................12
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                                TABLE OF CONTENTS
                                   (CONTINUED)

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         Section 2.12.     Contracts...................................................................12

         Section 2.13.     Offering of the Notes.......................................................13

         Section 2.14.     Related-Party Transactions..................................................13

         Section 2.15.     Brokers.....................................................................13

ARTICLE III           REPRESENTATIONS AND WARRANTIES OF THE PURCHASER..................................13

         Section 3.01.     Organization................................................................13

         Section 3.02.     Authorization...............................................................13

         Section 3.03.     Validity....................................................................14

         Section 3.04.     Investment Representations..................................................14

         Section 3.05.     Governmental Approvals......................................................14

ARTICLE IV            COVENANTS OF THE COMPANY.........................................................14

         Section 4.01.     Operation of Business.......................................................14

         Section 4.02.     Access to Information.......................................................15

         Section 4.03.     Agreement to Take Necessary and Desirable Actions...........................15

         Section 4.04.     Compliance with Conditions; Commercially Reasonable Efforts.................15

         Section 4.05.     Consents and Approvals......................................................15

         Section 4.06.     Reservation of Shares.......................................................16

         Section 4.07.     Listing of Shares...........................................................16

         Section 4.08.     Use of Proceeds.............................................................16

ARTICLE V             COVENANTS OF THE PURCHASER.......................................................16

         Section 5.01.     Agreement to Take Necessary and Desirable Actions...........................16

         Section 5.02.     Compliance with Conditions; Commercially Reasonable Efforts.................16

         Section 5.03.     Consents and Approvals......................................................16

ARTICLE VI            CONDITIONS PRECEDENT.............................................................17

         Section 6.01.     Initial Closing.............................................................17

                  (a)      Conditions Precedent to the Obligations of the Purchaser in the Initial
                           Closing.....................................................................17
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                                TABLE OF CONTENTS
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                           (i)      Representations and Warranties to Be True and Correct..............17

                           (ii)     Performance........................................................17

                           (iii)    All Proceedings to Be Satisfactory.................................17

                           (iv)     Legal Proceedings..................................................17

                           (v)      No Material Adverse Effect.........................................17

                           (vi)     Opinions of Counsel................................................18

                           (vii)    Ancillary Agreements...............................................18

                           (viii)   Mortgage...........................................................18

                           (ix)     Indebtedness and Security Interest Waiver..........................18

                           (x)      Compliance Certificate.............................................18

                  (b)      Conditions Precedent to the Obligations of the Company in the Initial
                           Closing.....................................................................18

                           (i)      Representations and Warranties to Be True and Correct..............18

                           (ii)     Performance........................................................18

                           (iii)    All Proceedings to Be Satisfactory.................................18

                           (iv)     Legal Proceedings..................................................19

                           (v)      Ancillary Agreements...............................................19

         Section 6.02.     Subsequent Closings.........................................................19

                  (a)      Conditions Precedent to the Obligations of the Purchaser in subsequent
                           Closings....................................................................19

                           (i)      Representations and Warranties to Be True and Correct..............19

                           (ii)     Performance........................................................19

                           (iii)    All Proceedings to Be Satisfactory.................................19

                           (iv)     Legal Proceedings..................................................19

                           (v)      No Default.........................................................20

                           (vi)     Network Services Agreement.........................................20

                           (vii)    Cure of Defaults...................................................20

                           (viii)   Compliance Certificate.............................................20
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                                       iii
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                                TABLE OF CONTENTS
                                   (CONTINUED)

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                           (ix)     Opinions of Counsel................................................20

                  (b)      Condition Precedent to the Obligations of the Company in subsequent
                           Closings....................................................................20

                           (i)      Representations and Warranties to Be True and Correct..............20

ARTICLE VII           SURVIVAL OF REPRESENTATIONS; INDEMNITY...........................................20

         Section 7.01.     Survival of Representations.................................................20

         Section 7.02.     General Indemnity...........................................................20

         Section 7.03.     Conditions of Indemnification...............................................21

ARTICLE VIII          MISCELLANEOUS....................................................................22

         Section 8.01.     Restrictive Legends.........................................................22

         Section 8.02.     Survival of Agreements......................................................22

         Section 8.03.     Parties in Interest.........................................................22

         Section 8.04.     Notices.....................................................................22

         Section 8.05.     Further Assurances..........................................................23

         Section 8.06.     Entire Agreement; Assignment................................................23

         Section 8.07.     Press Releases and Public Announcements.....................................23

         Section 8.08.     Termination.................................................................24

         Section 8.09.     Counterparts................................................................24

         Section 8.10.     Governing Law...............................................................24

         Section 8.11.     Amendments and Waivers......................................................25

         Section 8.12.     Taxes.......................................................................25
</TABLE>

                                       iv
<PAGE>

         SECURITIES PURCHASE AGREEMENT, dated as of May 16, 2001 (this
"Agreement"), by and between SAVVIS COMMUNICATIONS CORPORATION, a Delaware
corporation (the "Company") and REUTERS HOLDINGS SWITZERLAND SA, a societe
anonyme organized under the laws of Switzerland (the "Purchaser").

         WHEREAS, the Company desires to sell to the Purchaser, and the
Purchaser desires to purchase from the Company, on the terms and subject to the
conditions set forth herein, the principal amount of 12% Convertible Senior
Secured Notes of the Company set forth opposite the Purchaser's name on Schedule
I hereto, in substantially the form of Exhibit A hereto (together with the notes
to be issued as payment-in-kind interest thereunder, the "Notes");

         WHEREAS, in order to induce the Purchaser to purchase the Notes, the
Company has agreed to grant to the Purchaser certain registration rights with
respect to the shares of the Company's Common Stock, $.01 par value ("Common
Stock") issuable upon conversion of the Notes (the "Conversion Shares") or upon
conversion of preferred stock of the Company issuable upon conversion of the
Notes as set forth herein; and

         WHEREAS, the Purchaser desires to enter into this Agreement to acquire
the Notes on the terms and conditions set forth herein.

         NOW, THEREFORE, in consideration of the mutual promises,
representations, warranties, covenants and conditions set forth in this
Agreement, the parties to this Agreement mutually agree as follows:

                                   ARTICLE I

                      Authorization and Sale of the Notes.

         SECTION 1.01. Authorization. The Company has authorized the sale and
issuance of the Notes pursuant to the terms of this Agreement.

         SECTION 1.02. Sale of Notes.

         (a)      From the date of this Agreement and on the third business day
prior to the first business day of each calendar month hereafter through and
including August 1, 2001 (subject to extension pursuant to Section 1.02(c)
hereof), the Company may deliver to the Purchaser, prior to 10:00 am on such
date, a funding request notice (a "Funding Request") consisting of the
following: (i) a request for a certain sum of funds not to exceed, for each
calendar month, the amount for such month set forth on Schedule I, (ii) a
statement that such funds shall be used to pay expenses of the Company and its
subsidiaries in accordance with a cash flow projection of the Company through
August 31, 2001, to be provided to the Purchaser on the date of this Agreement
(including the supplement to such projections to be delivered to the Purchaser
no later than August 1, 2001 covering the cash flow projections of the Company
through October 21, 2001, the "Cash Flow Projection"), (iii) confirmation that
the representations and warranties of the Company contained in Article II hereof
are true and correct in all material respects as of the date of such Funding
Request, except in any such case that would not have a Material Adverse Effect
(as defined in Section 2.01 herein), and that the

                                       2
<PAGE>

Company has fulfilled all conditions and performed all of its obligations
hereunder with respect to such Funding Request, (iv) confirmation that no Event
of Default (as defined in the Notes) has occurred and is continuing, or is about
to occur to the best of the Company's knowledge with respect to Notes
outstanding, and (v) the proposed Closing Date for the delivery of the requested
funds, which date shall not be earlier than the third business day after the
date of such Funding Request. Each Funding Request shall be for an amount up to
the proposed Maximum Funding Amount for such month set forth immediately
opposite Purchaser's name and below such month on attached Schedule I, and in no
event may the aggregate amount of all Funding Requests exceed the total purchase
price for all Notes set forth on Schedule I.

         (b)      Upon receipt of a Funding Request in proper form as set forth
pursuant to Section 1.02(a) above, subject to Article VI hereof, the Purchaser
shall then purchase Notes in satisfaction of the Funding Request for the
aggregate principal amount of Notes requested (the "Purchase Price") at a
Closing (as defined below) and notify the Company of the Closing Date (as
defined below) of such purchase, which shall not be later than the third
business day following receipt of the Funding Request by the Purchaser provided,
however, that the first Closing (the "Initial Closing") shall take place on the
date hereof or as soon as practicable hereafter (such date, the "Initial Closing
Date").

         (c)      In the event that the Closing (as defined in the Bridge
Purchase Agreement, the "Bridge Purchase Agreement Closing") pursuant to the
purchase agreement (the "Bridge Purchase Agreement") between Reuters America
Inc. ("Reuters") and Bridge Information Systems, Inc. ("Bridge"), providing for
the acquisition of certain of the assets of Bridge by Reuters, has not been
consummated and the Bridge Purchase Agreement has not been terminated by 11:59
p.m., New York time, on August 31, 2001, the Company may deliver a Funding
Request pursuant to the terms of Section 1.02(a) hereof on September 1, 2001 and
a Closing will occur, subject to satisfaction of all applicable conditions of
Section 6.02 hereof, on September 4, 2001, and, if the Bridge Purchase Agreement
Closing has not been consummated and the Bridge Purchase Agreement has not been
terminated by 11:59 p.m., New York time, on September 30, 2001, the Company may
deliver a Funding Request pursuant to the terms of Section 1.02(a) hereof on
October 1, 2001 and a Closing will occur, subject to satisfaction of all
applicable conditions of Section 6.02 hereof, on October 1, 2001, for up to the
amounts set forth on Schedule I for such months.

         (d)      Notwithstanding the foregoing, from the date of this Agreement
through October 31, 2001, in the event the Company proposes to execute any
capital-raising or financing transaction involving an investment in securities
of the Company, the Purchaser shall receive notice of such transaction,
summaries of its principal terms and copies of all documents related to such
transaction at the same time and in the same manner as such materials are
provided to potential participants therein. The Purchaser shall have the right
to participate in such transaction on the same terms as the other participants
therein, for an amount up to the Purchaser's unfunded Maximum Funding Amount set
forth opposite the Purchaser's name on attached Schedule I in satisfaction and
release of the Purchaser's funding obligation with respect to the amount of such
participation in the purchase of Notes hereunder.

                                       3
<PAGE>

         SECTION 1.03. Closings; Deliveries.

         (a)      Closing. Except as contemplated pursuant to Section 1.04(b)
hereof, the closing of the purchase and sale of Notes pursuant to a Funding
Request shall take place from time to time (each such date of Closing, a
"Closing Date") in one or more closings (each, a "Closing") by the Purchaser
pursuant to Section 1.02 hereof, provided that the satisfaction (or waiver) of
all the conditions herein have been satisfied, at 10:00 a.m. New York time on
the date of such Closing, at the offices of Hogan & Hartson L.L.P., 885 Third
Avenue, 26th Floor, New York, New York 10022, or at such other time and place as
the Company and the Purchaser may agree. The Closing may be accomplished by
facsimile transmission to the respective offices of counsel for the parties
hereto of the requisite documents, duly executed where required, with originals
to be delivered by overnight courier service on the next business day following
the Closing.

         (b)      Closing Deliveries. At each Closing, subject to the terms and
conditions hereof, the Company will deliver to the Purchaser a Note or Notes,
executed by the Company evidencing an obligation by the Company to pay a
principal amount equal to the Purchase Price, in such denominations and in such
name or names as the Purchaser may designate by notice to the Company, dated the
date of the Closing, against payment of the Purchase Price therefor by wire
transfer in immediately available funds to an account specified by the Company.
Such Purchase Price paid at the Closing shall be delivered and accepted as full
and complete payment against the Notes.

         (c)      Grant of Security. Simultaneous with the execution and
delivery of this Agreement, as security for the amounts owed or to be owed
evidenced by the Notes, the Company's subsidiary will execute the Deed (as
defined in Section 2.04(a)).

         SECTION 1.04. Description of the Notes.

         (a)      Conversion of Notes into Common Stock. From and after the date
of issuance of each Note, subject to Section 1.04(b) below, all or a portion of
the principal amount of the Notes shall, at any time and at the option of the
Purchaser, be convertible into a number of shares of Common Stock, calculated by
dividing the portion of the principal amount of such Notes to be converted
(together with any accrued and unpaid interest on such portion of the principal
amount) by (i) for Notes issued pursuant to the initial Closing, $1.35 and (ii)
for Notes issued pursuant to subsequent Closings, the closing bid price (the
"Closing Bid") of the Common Stock on the Nasdaq Stock Market for the trading
day immediately preceding the date of execution of the Network Services
Agreement Term Sheet (as defined in Section 6.02(a)(vi)) (in each case, subject
to equitable adjustment for stock splits, stock dividends, recapitalizations,
reorganizations or other similar events, the "Common Stock Conversion Price")
with the proportional value of any fractional shares resulting therefrom paid by
the Company in cash to the Purchaser upon conversion; provided, however, that
with respect to clause (ii) of this sentence, if the Closing Bid is lower than
$1.35, the Common Stock Conversion Price shall be $1.35, and if the Closing Bid
is greater than $1.92, the Common Stock Conversion Price shall be $1.92. The
Purchaser will give the Company at least 10 business days notice of its
intention to

                                       4
<PAGE>

convert all or a portion of the principal amount of the Notes into Common Stock,
except if such conversion follows a notice of prepayment pursuant to Section
1.04(d) hereof. The Company shall present and deliver certificates evidencing
the proper number of shares of Common Stock to the Purchaser, in such
denominations and in such name or names as the Purchaser may designate by notice
to the Company, to the Purchaser, at a time and place mutually agreeable to the
Purchaser and the Company, in exchange for delivery of its Note or Notes to the
Company. Upon receipt of such Note in exchange for such certificate or
certificates of Common Stock, the Company shall cancel and destroy such Note or
Notes, and such Note or Notes shall thereafter be null, void and of no effect.
If any of the principal amount of any Note tendered to the Company pursuant to
this Section 1.04(a) shall remain unconverted and outstanding following the
issuance of such Common Stock, the Company shall execute and deliver to the
Purchaser at the same time and in the same manner as the certificate evidencing
the Purchaser's Common Stock is delivered, a replacement note that shall be
identical in all respects as the Note or Notes tendered to the Company, except
that the principal amount shall be reduced by the principal amount converted to
Common Stock. Any Notes issued pursuant to a Funding Request that is delivered
after the automatic conversion of a previously-issued Note pursuant to Section
1.04(b) hereof shall be convertible, at the Purchaser's option, into Purchaser
Conversion Preferred (as defined below).

         (b)      Automatic Conversion of Notes into Preferred Stock.
Simultaneous with the Company raising an aggregate of $50,000,000 (the
"Conversion Amount") in cash through the issuance of convertible preferred stock
prior to the Maturity Date (as defined below), excluding the Notes and PIK
Notes, but including shares issued upon conversion of up to $20,000,000
aggregate principal amount of the Company's 10% Convertible Senior Secured Notes
due February 20, 2006 issued to affiliates of Welsh, Carson, Anderson & Stowe
("Welsh Carson") (excluding any notes issued to Welsh Carson in kind for
interest on such notes), all of the principal amount of the Notes then
outstanding, together with any PIK Notes (as defined below), Notes then-payable
in kind for accrued and unpaid interest as of such date and Notes to be
purchased on such date by the Purchaser, subject to satisfaction of all
applicable conditions set forth in Section 6.02 herein, at a special Closing
with a Purchase Price equal to the difference between $30,000,000 and the
aggregate Purchase Price paid by the Purchaser pursuant to all Closings
completed pursuant to this Agreement as of such date (it being understood that
on such date, the Purchaser shall deliver such Purchase Price by wire transfer
of immediately available funds to the Company), shall be converted into a number
of shares of convertible preferred stock ("Purchaser Conversion Preferred")
having the same rights, preferences, privileges and restrictions as shares
issued (the "Recent Equity Financing Shares") pursuant to the Company's most
recent preferred stock financing (the "Recent Equity Financing"), except that
the initial conversion price of such Purchaser Conversion Preferred shall be the
lesser of (i) the initial conversion price of the Recent Equity Financing
Shares, (ii) the initial conversion price of shares issued pursuant to any
financing which comprises a portion of the Conversion Amount (excluding shares
issued upon conversion of the notes previously issued to Welsh Carson referred
to above), and (iii) the Common Stock Conversion Price. The Purchaser Conversion
Preferred shall be of the same class, but separate series, as the Recent Equity
Financing Shares. The proportional value of any fractional shares resulting from
the issuance of Purchaser Conversion Preferred shall be paid by the Company in
cash to the Purchaser. Notwithstanding the foregoing, the following actions by
the Company shall not be aggregated in calculating the Conversion Amount: (i)
the issuance of any shares of Common Stock pursuant to a stock option

                                       5
<PAGE>

plan approved by the Company's Board of Directors, (ii) the issuance of stock,
warrants or other securities or rights to persons or entities with which the
Company has bona fide business relationships provided such issuances are for
other than primarily equity financing purposes, provided, that in any such case
(involving the foregoing clauses (i) or (ii)) such issuance has been approved by
a majority of the members of the Company's Board of Directors. The Company will
provide the Purchaser with at least 10 business days notice in advance of an
expected closing of an equity financing which will result in the raising of the
Conversion Amount, noting the time and place of such event. The Company shall
present and deliver certificates evidencing the proper number of Purchaser
Conversion Preferred to the Purchaser, in such denominations and in such name or
names as the Purchaser may designate by notice to the Company, to Purchaser at
the closing of the Recent Equity Financing in exchange for delivery of its Notes
to the Company. Upon receipt of such Notes in exchange for such certificate or
certificates of stock evidencing the proper number of Purchaser Conversion
Preferred, the Company shall cancel and destroy such Note or Notes, and such
Note or Notes shall thereafter be null, void and of no effect. An opinion or
opinions of counsel substantially similar to the opinions to be rendered
pursuant to Section 6.01(a)(vi) hereof, reasonably satisfactory to the
Purchaser, will be provided regarding the issuance of the Purchaser Conversion
Preferred upon the issuance of such securities.

         (c)      Redemption.

                  (i)      At Maturity. On May 1, 2005 (the "Maturity Date"),
all of the outstanding principal amount (together with any accrued and unpaid
interest on the principal amount) of the Notes shall be due and payable.

                  (ii)     Upon Change of Control. At any time that Notes are
outstanding, the Company shall notify the Purchaser at least 10 business days
prior to a record date of a transaction which would result in a Change of
Control (as defined in the Notes) of the Company. Upon receipt of such notice,
the Purchaser shall have the right to require the Company (i) to redeem any or
all of the Notes, including the PIK Notes (as defined below), at a cash price
equal to 100% of the principal amount of such Notes, plus all accrued and unpaid
interest and the Applicable Premium Amount (as defined in the Notes) as of the
effective date of the Change of Control, or (ii) to convert the principal amount
of any or all Notes (at the Purchaser's option), including the PIK Notes and the
Applicable Premium Amount (as defined in the Notes), into shares of Common
Stock, determined by dividing the aggregate principal amount of such Notes to be
converted by the Common Stock Conversion Price, with the proportional value of
any fractional shares resulting therefrom paid by the Company in cash to the
Purchaser.

         (d)      Prepayment. From and after the first anniversary of the final
Closing, the Company shall have the right to prepay all, but not less than all,
of the Notes in one transaction, with all accrued and unpaid interest to the
date of repayment at any time without premium or penalty. The Company shall
notify the Purchaser of its intent to prepay the principal amount of the Notes
at least 10 business days prior to the date of such prepayment. The Purchaser
shall have the right at any time prior to the third business day prior to the
date of prepayment to convert its Notes pursuant to Section 1.04(a) hereof.

                                       6
<PAGE>

         (e)      Interest.

                  (i)      Payment. From and after the issuance of Notes,
holders of record of the Notes shall be entitled to receive interest at a rate
of 12% per annum, compounded and payable quarterly, on the principal amount of
the Notes including any issued and outstanding PIK Notes (as defined below).
Until August 1, 2004 (the "PIK Crossover Date"), at the discretion of the
Company, any and all interest payments are payable, from the date of issuance of
such Notes in the form of additional Notes ("PIK Notes") with a face amount
equal to the interest owed at that time, in lieu of cash. From and after the PIK
Crossover Date, holders of record of the Notes shall be entitled to receive
interest at a rate of 12% per annum, compounded and payable quarterly, on the
principal amount of the Notes, in cash only, the first of such payments due on
the last day of the first calendar quarter after the PIK Crossover Date. Any
payment of interest covering a period which includes the PIK Crossover Date
shall be payable, for the portion of such period before the PIK Crossover Date,
in PIK Notes. When issued, the PIK Notes will have the same rights and
privileges as the Notes issued at any Closing.

                  (ii)     Default in Payment. Interest on the Notes, including
PIK Notes, if issued, shall accrue from and after the date of initial issuance
thereof. To the extent that interest remains unpaid ten (10) business days after
the applicable interest payment date, interest shall accrue on the Notes at a
rate of 14% per annum until paid and shall be a continuing obligation of the
Company.

                                   ARTICLE II

                  REPRESENTATIONS AND WARRANTIES OF THE COMPANY

         The Company represents and warrants to Purchaser as of the date hereof
and on the Closing Date, as follows:

         SECTION 2.01. Organization and Qualification. The Company is a
corporation validly existing and in good standing under the laws of the State of
Delaware and has all requisite corporate power and authority to own or lease and
operate its properties and assets and to carry on its business as it is now
being conducted. The Company is duly qualified as a foreign corporation to do
business, and is in good standing, in each jurisdiction in which the character
of its properties owned or leased or the nature of its activities makes such
qualification necessary, except where the failure to be so qualified would not
have a material adverse effect on the properties, assets, financial condition,
operating results, business or prospects of the Company and its subsidiaries,
taken as a whole (a "Material Adverse Effect").

         SECTION 2.02. Subsidiaries. Except for the Subsidiaries disclosed in
the Company SEC Filings (as defined in Section 2.08), the Company does not own,
beneficially or of record, directly or indirectly, any capital stock or other
ownership interest in any other Person. SAVVIS Communications Corporation, a
Missouri corporation ("SAVVIS Missouri") is a corporation validly existing and
in good standing under the laws of Missouri. Global Network Assets, LLC, a
Delaware limited liability company ("Global LLC"), is a limited liability
company, duly formed, validly existing and in good standing under the laws of
Delaware. Each of SAVVIS Missouri and Global LLC has all requisite power and
authority to own or lease and

                                       7
<PAGE>

operate its properties and assets and to carry out its business as it is now
being conducted. Each of SAVVIS Missouri and Global LLC is duly qualified as a
foreign corporation to do business, and is in good standing, in each
jurisdiction in which the character of its properties owned or leased or the
nature of its activities makes such qualification necessary, except where the
failure to be so qualified would not have a Material Adverse Effect. As used in
this Agreement, (i) "Person" means any corporation, partnership, limited
liability company, trust, joint venture or other entity and (ii) "Subsidiary"
means, with respect to any Person, any corporation, association or other
business entity of which more than 50% of the total voting power of shares of
capital stock entitled (without regard to the occurrence of any contingency) to
vote in the election of directors, managers or trustees thereof is at the time
owned or controlled, directly or indirectly, by such Person or one or more of
the other Subsidiaries of such Person or a combination thereof. SAVVIS Missouri
and Global LLC are the Company's only Significant Subsidiaries (as defined in
Rule 1-02(w) of Regulation S-X).

         SECTION 2.03. Capitalization. (a) On the date hereof the authorized
capital stock of the Company consists of 250,000,000 shares of Common Stock and
50,000,000 shares of Preferred Stock, $.01 par value ("Preferred Stock"). As of
the date hereof, 93,844,039 shares of Common Stock and no shares of Preferred
Stock were issued and outstanding, all of which shares of Common Stock were duly
authorized and validly issued and are fully paid and nonassessable.

         (b)      As of the date hereof, except for options granted pursuant to
the Company's stock option plan (the "Stock Option Plan") to purchase an
aggregate 8,852,063 shares of Common Stock and except as set forth on Schedule
2.03(b), no subscription, warrant, option, convertible security, stock
appreciation or other right (contingent or other) to purchase or acquire any
shares of any class of capital stock of the Company or any of its Subsidiaries
is authorized or outstanding, and (except as otherwise expressly contemplated by
this Agreement) there is not any commitment of the Company or any of its
Subsidiaries to issue any shares, warrants, options or other such rights or to
distribute to holders of any class of its capital stock, any evidences of
indebtedness or assets.

         SECTION 2.04. Authorization of Agreements, etc. (a) Except as set forth
on Schedule 2.04 and subject to Section 2.04(b), each of (i) the execution and
delivery by the Company of this Agreement, the Notes, the Amended and Restated
Registration Rights Agreement, dated as of the Closing Date (the "Registration
Rights Agreement"), among the Company and the Purchaser, in substantially the
form attached hereto as Exhibit B, and the Missouri Future Advance Deed of Trust
and Security Agreement, in substantially the form attached hereto as Exhibit C,
dated as of May 11, 2001, between the Company's subsidiary and the Purchaser,
(the "Deed," and collectively with the Registration Rights Agreement, the
"Ancillary Agreements"), (ii) the performance by the Company of its obligations
hereunder and thereunder, and (iii) the issuance, sale and delivery by the
Company of the Notes has been duly authorized by all requisite corporate action
and will not violate any provision of law, any order of any court or other
agency of government, any rule or regulation of the National Association of
Securities Dealers, Inc., the Nasdaq stock market or any rule of any other
securities exchange under which the Company may be subject, the Certificate of
Incorporation or Bylaws of the Company, or any provision of any indenture,
agreement or other instrument to which the Company or any of its properties or
assets is bound, or conflict with, result in a breach of or

                                       8
<PAGE>

constitute (with due notice or lapse of time or both) a default under any such
indenture, agreement or other instrument, or result in the creation or
imposition of any liens, claims, charges, restrictions, rights of others,
security interests, prior assignments or other encumbrances (collectively,
"Claims") in favor of any third Person upon any of the assets of the Company or
any of its Subsidiaries, except that no representation is made as to the
compliance of the indemnification or contribution provisions of the Registration
Rights Agreement with law or public policy.

         (b)      The parties acknowledge that the Board of Directors of the
Company is treating each possible sale of Notes hereunder as a separate
transaction, and has only approved the transactions contemplated by this
Agreement which will not result in the Purchaser, together with its affiliates,
becoming the "beneficial owner" (as defined in Section 203 of the Delaware
General Corporation Law, "DGCL 203") of 15% or more of the outstanding voting
stock of the Company or becoming an "interested stockholder" as defined in such
Section. Any sale of Notes in accordance with Section 1 hereof that would result
in the Purchaser becoming the beneficial owner of 15% or more of the Company's
outstanding voting stock or becoming an interested stockholder (an "Interested
Stockholder Transaction") will require further approval of the Company's Board
of Directors beyond what has been received as of the date of execution of this
Agreement, and nothing herein shall be deemed to constitute a representation by
the Company that any Interested Stockholder Transaction has been approved by its
Board of Directors or an agreement by the Company that any such further approval
will be granted. The parties acknowledge that the Purchaser or an affiliate of
the Purchaser has acquired an option from Bridge to acquire and/or vote shares
of the Company's common stock held by Bridge, which option is limited to the
number of shares as would not at the time make the Purchaser and its affiliates
an interested stockholder under DGCL 203. It is the intention of the parties
that the beneficial ownership by the Purchaser or its affiliates of outstanding
voting stock of the Company under such option will be reduced simultaneously
with Notes being sold hereunder, so that the combined effect of the sale of
Notes and existence of such option will not result in the Purchaser or any of
its affiliates becoming an interested stockholder under DGCL 203, provided,
however, that this sentence shall cease to be of any further force or effect if
the Purchaser hereafter becomes an interested stockholder with the approval of
the Company's Board of Directors. Notwithstanding the foregoing, it is
understood and agreed that no securities will be issued pursuant to this
Agreement, including securities issued upon conversion of securities issued
pursuant to this Agreement, in any form unless such issuance has been approved
by the Board of Directors of the Company. The conversion of any securities
issued hereby into Conversion Shares or Purchaser Conversion Preferred, as
described herein, has been or will be approved by the Board of Directors of the
Company, and the Purchaser (and any successors or assigns) may rely on such
approval in the conversion of such securities. In addition, any adjustment to
the outstanding voting stock of the Company by the Company which would result in
the Purchaser or its affiliates beneficially owning 15% or more of the Company's
outstanding voting stock (determined in accordance with DGCL 203) will be
approved by the Board of Directors of the Company, including for purposes of
DGCL 203.

         (c)      The issuance, sale and delivery of the Notes to the Purchaser
hereunder are not subject to any preemptive rights of stockholders of the
Company or to any right of first refusal or other similar right in favor of any
Person.

                                       9
<PAGE>

         (d)      The Conversion Shares have been duly authorized by the Company
and, when issued in accordance with the provisions of the Notes, will be validly
issued, fully paid and nonassessable shares of Common Stock. The issuance, sale
and delivery of the Conversion Shares to the Purchaser are not and upon
conversion of the Notes will not be subject to any preemptive rights of
stockholders of the Company or to any right of first refusal or other similar
right in favor of any Person.

         SECTION 2.05. Validity. This Agreement has been duly executed and
delivered by the Company and constitutes the legal, valid and binding obligation
of the Company, enforceable against the Company in accordance with its terms.
Each of the Notes and the Ancillary Agreements, when executed and delivered by
the Company as provided in this Agreement, will constitute the legal, valid and
binding obligation of the Company, enforceable against the Company in accordance
with its terms, except that no representation is made as to (i) the
enforceability of the indemnification or contribution provisions of the
Registration Rights Agreement and (ii) the enforceability of this Agreement or
the Registration Rights Agreement to the extent that their enforceability may be
subject to applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting enforceability of creditors' rights generally or by
general equitable principles.

         SECTION 2.06. Governmental Approvals. Subject to the accuracy of the
representations and warranties of the Purchaser set forth in Article III hereof
and except for applicable filings, if any, required by applicable federal and
state securities laws and listing regulations, no registration or filing with,
or consent or approval of, or other action by, any federal, state or other
governmental agency or instrumentality or securities exchange (each, a
"Governmental Authority") is or will be necessary for the valid execution,
delivery and performance of this Agreement, the Ancillary Agreements, or the
issuance and delivery of the Conversion Shares.

         SECTION 2.07. Financial Statements.

         (a)      The Company has furnished to the Purchaser the unaudited
consolidated balance sheet of the Company and its subsidiaries as of March 31,
2001 (the "Interim Balance Sheet") and the related consolidated statements of
operations, stockholders' equity and cash flows for the three months then ended.
All such financial statements (including any related schedules and/or notes)
have been prepared in accordance with generally accepted accounting principles
in the United States ("GAAP") consistently applied and consistent with prior
periods, except for normal year-end adjustments and the absence of footnotes.
Such Interim Balance Sheet fairly presents in all material respects the
consolidated financial position of the Company and its subsidiaries as of its
date, and such statements of operations, stockholders' equity and cash flows
fairly present in all material respects the consolidated results of operations,
stockholders' equity and cash flows of the Company and its subsidiaries for the
three months ended the date of the Interim Balance Sheet.

         (b)      The Company has furnished the Purchaser with the Cash Flow
Projection. The Cash Flow Projection fairly presents, in all material respects,
management's good faith estimate of cash flows and expenses of the Company for
the covered period, is based on assumptions that management believes in good
faith to be appropriate.

                                       10
<PAGE>

         (c)      Except as and to the extent (i) reflected on the Interim
Balance Sheet (including the notes thereto), (ii) incurred since the date of the
Interim Balance Sheet in the ordinary course of business consistent with past
practice, or (iii) set forth on Schedule 2.07 hereto, neither the Company nor
any of its subsidiaries has any material liabilities or obligations of any kind
or nature, whether known or unknown, secured or unsecured, absolute, accrued,
contingent or otherwise, and whether due or to become due, that would be
required to be reflected on a balance sheet, or the notes thereto, prepared in
accordance with GAAP. Except as set forth on Schedule 2.07, since the date of
the Interim Balance Sheet, neither the Company nor any of its subsidiaries has
suffered any Material Adverse Effect.

         SECTION 2.08. SEC Filings. The Company has filed all forms, reports and
documents required to be filed with the Securities and Exchange Commission (the
"SEC") as of the date of this Agreement, and the Company has made available to
the Purchaser, as filed with the SEC, complete and accurate copies of (i) the
Annual Report of the Company on Form 10-K for the year ended December 31, 2000,
and (ii) all other reports, statements and registration statements (including,
but not limited to, Current Reports on Form 8-K and Quarterly Report on Form
10-Q) filed by the Company with the SEC since December 31, 2000, in each case
including, but not limited to, all amendments and supplements (collectively, the
"Company SEC Filings"). The Company SEC Filings (excluding any financial
statements or schedules included therein, which are covered by the
representations and warranties of the Company in Section 2.07(a)) (i) were
prepared in compliance with the requirements of the Securities Act of 1933, as
amended (the "Securities Act"), or the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), and the rules and regulations thereunder, and the
rules and regulations thereunder, as the case may be, and (ii) did not at the
time of filing (or if amended, supplemented or superseded by a filing prior to
the date hereof, on the date of that filing) contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading.

         SECTION 2.09. Absence of Certain Changes or Events. Except as set forth
on Schedule 2.09 hereto and except as otherwise expressly contemplated by this
Agreement, since the date of the Interim Balance Sheet, neither the Company nor
any of its subsidiaries has (i) issued any stock, bonds or other corporate
securities, (ii) borrowed or refinanced any indebtedness for borrowed money
other than borrowings under the Amended and Restated Credit Agreement dated as
of September 5, 2000 (the "Credit Agreement"), among the Company, Savvis
Communications Corporation, a Missouri Corporation, Nortel Networks Inc., as
Administrative Agent, and the lenders named therein, (iii) discharged or
satisfied any material Claim or incurred or paid any obligation or liability
(absolute or contingent) other than current liabilities shown on the Interim
Balance Sheet and current liabilities incurred since the date of such balance
sheet in the ordinary course of business consistent with past practice, (iv) in
the case of the Company only, declared or made any payment or distribution to
stockholders, or purchased or redeemed any shares of its capital stock or other
securities, or (v) except in connection with this Agreement and the transactions
contemplated hereby, entered into any agreement, letter of intent or similar
undertaking to take any of the actions listed in clauses (i) through (iv) above.

                                       11
<PAGE>

         SECTION 2.10. Actions Pending. Except as set forth in the Company SEC
Filings and as set forth on Schedule 2.10, there is no action, suit,
investigation or proceeding pending or, to the best knowledge of the Company,
threatened against or affecting the Company to which its property is subject,
before any court or by or before any governmental body or arbitration board or
tribunal, which the Company would be required to disclose pursuant to Item 1 of
Part II of Form 10-Q if such Form 10-Q were required to be filed on and as of
the date hereof. For the purposes of this Agreement, the term "best knowledge of
the Company" shall mean the actual knowledge of the executive officers of the
Company.

         SECTION 2.11. Compliance with Law; Permits. Neither the Company nor any
of its subsidiaries is in default in any respect under any order or decree of
any court, governmental authority, arbitrator or arbitration board or tribunal
or under any laws, ordinances, governmental rules or regulations to which the
Company or any of such subsidiaries or any of their respective properties or
assets is subject, except where such default would not have a Material Adverse
Effect. The Company possesses all permits, authorizations, approvals,
registrations, variances and licenses ("Permits") necessary for the Company or
its subsidiaries to own, use and maintain their properties and assets or
required for the conduct of its business in substantially the same manner as it
is currently conducted, except where the failure to possess any such Permit
would not have a Material Adverse Effect. Except to the extent the failure of
any of the following to be correct would not have a Material Adverse Effect,
each Permit is in full force and effect, and no proceeding is pending or, to the
best knowledge of the Company, threatened to modify, suspend, revoke or
otherwise limit any Permit, and no administrative or governmental actions have
been taken or, to the best knowledge of the Company, threatened in connection
with the expiration or renewal of any Permit.

         SECTION 2.12. Contracts. Except as disclosed in the Company SEC Filings
and as set forth on Schedule 2.12, there are no contracts or agreements that are
material to the conduct of the Company's business or to the financial condition
or results of operations of the Company and its subsidiaries, taken as a whole,
that the Company would be required to disclose pursuant to paragraph 10 of Item
601 of Regulation S-K if a Form 10-Q were required to be filed on and as of the
date hereof. Except as set forth on Schedule 2.12, each of the agreements
(collectively, the "Material Agreements") disclosed as an exhibit in the Company
SEC Filings in response to paragraph 10 of Item 601 of Regulation S-K under
which there are continuing rights or obligations is a valid and enforceable
obligation of the Company and, to the best knowledge of the Company, of the
other parties thereto, except where the failure to be valid or enforceable would
not have a Material Adverse Effect and provided that no representation is made
as to the enforceability of such agreements to the extent that their
enforceability may be subject to applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting enforceability of
creditors' rights generally or by general equitable principles. Except as
disclosed on Schedule 2.12, to the best knowledge of the Company, the Company
has not been notified in writing of any claim that any Material Agreement is not
valid and enforceable in accordance with its terms for the periods stated
therein (other than where such enforceability is in violation of public policy
or law), or that there is under any such contract any existing default or event
of default or event that with notice or lapse of time or both would constitute
such a default, except any such failure to be valid or enforceable and any such
defaults that, in the aggregate, would not have a Material Adverse Effect.

                                       12
<PAGE>

         SECTION 2.13. Offering of the Notes. Assuming the accuracy of the
representations and warranties of the Purchaser set forth in Article III hereof,
neither the Company nor any person acting on the Company's behalf has taken or
will take any action (including, but not limited to, any offer, issuance or sale
of any securities of the Company under circumstances which might require the
integration of such transactions with the sale of the Notes under the Securities
Act or the rules and regulations of the SEC thereunder) which would subject the
offering, issuance or sale of the Notes to the Purchaser pursuant to this
Agreement to the registration provisions of the Securities Act.

         SECTION 2.14. Related-Party Transactions. Except (i) as set forth in
the Company SEC Filings, (ii) as set forth on Schedule 2.14, or (iii) as
contemplated hereby, there are no existing material arrangements or proposed
material transactions between the Company and any Person or entity that the
Company would be required to disclose pursuant to Item 404 of Regulation S-K of
the SEC if a proxy statement of the Company were required to be filed on or as
of the date hereof, other than arrangements or transactions between the Company
and the Purchaser.

         SECTION 2.15. Brokers. All negotiations relative to this Agreement and
the transactions contemplated hereby have been carried on by the Company
directly with the Purchaser, without the intervention of any other Person on
behalf of the Company in such manner as to give rise to any valid claim by any
other Person against the Purchaser for a finder's fee, brokerage commission or
similar payment.

                                   ARTICLE III

                 REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

         The Purchaser represents and warrants to the Company, as of the date
hereof and on the Closing Date as follows:

         SECTION 3.01. Organization. The Purchaser is duly organized, validly
existing and in good standing under the laws of its jurisdiction of organization
and has all requisite corporate authority to operate its properties and assets
and to carry on its business as it is now being conducted.

         SECTION 3.02. Authorization. The execution, delivery and performance by
the Purchaser of this Agreement and the Ancillary Agreements, and the purchase
and receipt by the Purchaser of the Notes being acquired by it hereunder, have
been duly authorized by all requisite action on the part of the Purchaser and
will not violate any provision of law, any order of any court or other agency of
government, the charter or other governing documents of the Purchaser, or any
provision of any indenture, agreement or other instrument by which the Purchaser
or any of the Purchaser's properties or assets are bound, or conflict with,
result in a breach of or constitute (with due notice or lapse of time or both) a
default under any such indenture, agreement or other instrument, or result in
the creation or imposition of any liens, claims, charges, restrictions, rights
of others, security interests, prior assignments or other encumbrances in favor
of any third Person upon any of the properties or assets of the Purchaser.

                                       13
<PAGE>

         SECTION 3.03. Validity. This Agreement has been duly executed and
delivered by the Purchaser and constitutes the legal, valid and binding
obligation of such Purchaser, enforceable against the Purchaser in accordance
with its terms. Each of the Ancillary Agreements, when executed and delivered in
accordance with this Agreement, will constitute the legal, valid and binding
obligation of the Purchaser, enforceable against the Purchaser in accordance
with its terms.

         SECTION 3.04. Investment Representations.

         (a)      The Purchaser is acquiring the Notes being purchased by the
Purchaser hereunder for the Purchaser's own account, for investment, and not
with a view toward the resale or distribution thereof.

         (b)      The Purchaser understands that he, she or it, as the case may
be, must bear the economic risk of the Purchaser's investment for an indefinite
period of time, because the Notes and, when issued upon conversion of Notes, the
Conversion Shares are not registered under the Securities Act or any applicable
state securities laws and may not be resold unless subsequently registered under
the Securities Act and such other laws or unless an exemption from such
registration is available.

         (c)      The Purchaser has the ability to bear the economic risks of
the investment in the Notes being purchased hereunder for an indefinite period
of time. The Purchaser further acknowledges that he, she or it, as the case may
be, has received copies of the Company SEC Filings and has had the opportunity
to ask questions of, and receive answers from, officers of the Company with
respect to the business and financial condition of the Company and the terms and
conditions of the offering of the Notes and to obtain additional information
necessary to verify such information or can acquire it without unreasonable
effort or expense.

         (d)      The Purchaser has such knowledge and experience in financial
and business matters that the Purchaser is capable of evaluating the merits and
risks of its investment in the Notes. The Purchaser further represents that he,
she or it, as the case may be, is an "accredited investor" as such term is
defined in Rule 501 of Regulation D of the SEC under the Securities Act with
respect to its purchase of the Notes.

         SECTION 3.05. Governmental Approvals. No registration or filing with,
or consent or approval of, or other action by, any Governmental Authority is or
will be necessary by the Purchaser for the valid execution, delivery and
performance of this Agreement and the Ancillary Agreements.

                                   ARTICLE IV

                            COVENANTS OF THE COMPANY

         SECTION 4.01. Operation of Business. From the date hereof until the
Initial Closing Date, except as expressly provided for in this Agreement or as
consented to by the Purchaser, the Company shall not:

                                       14
<PAGE>

         (a)      amend its certificate of incorporation or bylaws or comparable
     organizational documents;

         (b)      split, combine or reclassify any shares of the Company's
     Common Stock;

         (c)      declare or pay any dividend or distribution (whether in cash,
     stock or property) in respect of its Common Stock;

         (d)      take any action, or knowingly omit to take any action, that
     would, or that would reasonably be expected to, result in (A) any of the
     representations and warranties of the Company set forth in Article III
     becoming untrue, (B) any of the conditions to the obligations of the
     Purchaser set forth in Section 6.02 not being satisfied, or (C) the
     operation of the business of the Company or its Subsidiaries outside the
     ordinary course of business consistent with past practice, giving due
     regard to the Company's financial condition, including but not limited to
     the filing for bankruptcy by Bridge, the Company's cash funding
     requirements and the Company's current management of its trade payables;
     and

         (e)      enter into any agreement or commitment to do any of the
     foregoing.

         SECTION 4.02. Access to Information. From the date hereof until the
Closing Date, the Company will (a) furnish to the Purchaser and its authorized
representatives such financial and operating data and other information relating
to the Company and its Subsidiaries as such Persons may reasonably request and
(b) instruct its counsel, independent accountants and financial advisors to
cooperate with the Purchaser and its authorized representatives in its
investigation of the Company. Any investigation pursuant to this Section shall
be conducted in such manner as not to interfere unreasonably with the conduct of
the business of the Company.

         SECTION 4.03. Agreement to Take Necessary and Desirable Actions. The
Company shall (a) subject to the satisfaction of the conditions set forth in
Section 6.02, execute and deliver this Agreement and the Ancillary Agreements
and such other documents, certificates, agreements and other writings, and (b)
take such other actions, in each case, as may be necessary or reasonably
requested by the Purchaser in order to consummate or implement the issuance,
sale and delivery of the Notes to the Purchaser in accordance with the terms of
this Agreement.

         SECTION 4.04. Compliance with Conditions; Commercially Reasonable
Efforts. The Company shall use all commercially reasonable efforts to cause all
conditions precedent to the obligations of the Company and the Purchaser to be
satisfied. Upon the terms and subject to the conditions of this Agreement, the
Company will use all commercially reasonable efforts to take, or cause to be
taken, all action, and to do, or cause to be done, all things necessary, proper
or advisable consistent with applicable laws to consummate and make effective in
the most expeditious manner practicable the issuance, sale and delivery of the
Notes to the Purchaser in accordance with the terms of this Agreement.

         SECTION 4.05. Consents and Approvals. The Company (a) shall use all
commercially reasonable efforts to obtain all necessary consents, waivers,
authorizations and approvals of all Governmental Authorities, and of all other
Persons required in connection with

                                       15
<PAGE>

the execution, delivery and performance of this Agreement, the Ancillary
Agreements or the consummation of the transactions contemplated hereby or
thereby (including, without limitation, obtaining any stockholder approval
referred to in Schedule 2.04); and (b) shall diligently assist and cooperate
with the Purchaser in preparing and filing all documents required to be
submitted by the Purchaser to any Governmental Authority in connection with the
issuance, sale and delivery of the Notes to the Purchaser (which assistance and
cooperation shall include, without limitation, timely furnishing to the
Purchaser all information concerning the Company and its Subsidiaries that
counsel to the Purchaser reasonably determines is required to be included in
such documents or would be helpful in obtaining any such required consent,
waiver, authorization or approval).

         SECTION 4.06. Reservation of Shares. For so long as any of the Notes
are outstanding, the Company shall keep reserved for issuance a sufficient
number of shares of Common Stock to satisfy its conversion obligations
thereunder.

         SECTION 4.07. Listing of Shares. The Company shall use all commercially
reasonable efforts to cause the Conversion Shares issuable upon conversion of
the Notes to be listed or otherwise eligible for trading on the Nasdaq National
Market or such other exchange or market at which the Common Stock is traded at
the time of conversion.

         SECTION 4.08. Use of Proceeds. The Company shall use the aggregate
proceeds to be received upon issuance of the Notes for working capital and
general corporate purposes.

                                    ARTICLE V

                           COVENANTS OF THE PURCHASER

         SECTION 5.01. Agreement to Take Necessary and Desirable Actions. The
Purchaser shall (a) subject to the satisfaction of the conditions set forth in
Section 6.01, execute and deliver each of this Agreement and the Ancillary
Agreements and such other documents, certificates, agreements and other writings
and (b) take such other actions as may be necessary or reasonably requested by
the Company in order to consummate or implement the issuance, sale and delivery
of the Notes to the Purchaser in accordance with the terms of this Agreement.

         SECTION 5.02. Compliance with Conditions; Commercially Reasonable
Efforts. The Purchaser will use all commercially reasonable efforts to cause all
of the obligations imposed upon it in this Agreement to be duly complied with,
and to cause all conditions precedent to the obligations of the Company and the
Purchaser to be satisfied. Upon the terms and subject to the conditions of this
Agreement, the Purchaser will use all commercially reasonable efforts to take,
or cause to be taken, all action, and to do, or cause to be done, all things
necessary, proper or advisable consistent with applicable law to consummate and
make effective in the most expeditious manner practicable the issuance, sale and
delivery of the Notes to the Purchaser in accordance with the terms of this
Agreement.

         SECTION 5.03. Consents and Approvals. The Purchaser (a) shall use all
commercially reasonable efforts to obtain all necessary consents, waivers,
authorizations and approvals of all Governmental Authorities, and of all other
Persons required in connection with

                                       16
<PAGE>

the execution, delivery and performance of this Agreement and the Registration
Rights Agreement or the consummation of transactions contemplated hereby or
thereby and (b) shall diligently assist and cooperate with the Company in
preparing and filing all documents required to be submitted by the Company to
any Governmental Authority in connection with such transactions (which
assistance and cooperation shall include, without limitation, timely furnishing
to the Company all information concerning the Purchaser that counsel to the
Company reasonably determines is required to be included in such documents or
would be helpful in obtaining any such required consent, waiver, authorization
or approval).

                                   ARTICLE VI

                              CONDITIONS PRECEDENT

         SECTION 6.01. Initial Closing.

         (a)      Conditions Precedent to the Obligations of the Purchaser in
the Initial Closing. With regard to the Initial Closing, the obligations of the
Purchaser hereunder are, at their option, subject to the satisfaction of the
following conditions:

                  (i)      Representations and Warranties to Be True and
Correct. The representations and warranties of the Company contained in this
Agreement shall be true and correct in all material respects on the Closing Date
with the same force and effect as though such representations and warranties had
been made on and as of such date.

                  (ii)     Performance. The Company shall have performed and
complied in all material respects with all agreements and conditions contained
herein required to be performed or complied with by it prior to or on the
Closing Date.

                  (iii)    All Proceedings to Be Satisfactory. All corporate and
other proceedings to be taken by the Company and all waivers and consents to be
obtained by the Company in connection with the transactions contemplated hereby,
including, but not limited to, any such requirements of the Marketplace Rules of
the Nasdaq National Market and those set forth in Schedule 2.04, shall have been
taken or obtained by the Company, and all documents incident thereto shall be
satisfactory in form and substance to the Purchaser and their counsel.

                  (iv)     Legal Proceedings. On the Initial Closing Date, no
preliminary or permanent injunction or other order, decree or ruling issued by
any court of competent jurisdiction nor any statute, rule, regulation or order
entered, promulgated or enacted by any governmental, regulatory or
administrative agency or authority, or national securities exchange shall be in
effect that would prevent the consummation of the transactions contemplated by
this Agreement.

                  (v)      No Material Adverse Effect. Except for the effects of
the matters referred to in Sections 2.07 and 2.09 or disclosed in Schedules
2.07, 2.09 or the Cash Flow Projection, since April 17, 2001, the date on which
the Company filed its Annual Report on Form 10-K for the year ended December 31,
2000, there shall have been no Material Adverse Effect.

                                       17
<PAGE>

                  (vi)     Opinions of Counsel. The Purchaser shall have
received from Hogan & Hartson L.L.P. and Steven M. Gallant, Esq., opinions dated
the Initial Closing Date, covering customary matters and otherwise reasonably
satisfactory in form and substance to the Purchaser and their counsel.

                  (vii)    Ancillary Agreements. The Company shall have executed
and delivered each of the Ancillary Agreements, and all third party consents
(including the consent of lenders of the Company's subsidiaries, if necessary)
and all other documents and agreements necessary to make the Ancillary
Agreements effective in accordance with their terms shall have been obtained and
shall be effective.

                  (viii)   Mortgage. The Company shall have executed and
delivered the Deed and such document shall have been filed with and accepted by
the proper Governmental Authorities.

                  (ix)     Indebtedness and Security Interest Waiver. Any
restrictions on the incurrence of indebtedness or the granting of a security
interest by the Company pursuant to any agreement to which the Company is a
party, including but not limited to any agreement with (i) Nortel Networks Inc.,
(ii) General Electric Capital Corporation or (iii) Welsh Carson shall have been
waived on terms satisfactory to the Purchaser to enable the Company to
consummate the transactions to be effected at the Initial Closing contemplated
by this Agreement.

                  (x)      Compliance Certificate. There shall have been
delivered to the Purchaser a certificate dated as of the Initial Closing, signed
by an executive officer of the Company, certifying that the conditions specified
in Sections 6.01(a)(i), (ii), (iii), (iv), (v), (viii) and (ix) have been
fulfilled.

         (b)      Conditions Precedent to the Obligations of the Company in the
Initial Closing. With regard to the Initial Closing, the obligations of the
Company hereunder are, at its option, subject to the satisfaction of the
following conditions:

                  (i)      Representations and Warranties to Be True and
Correct. The representations and warranties of the Purchaser contained in this
Agreement shall be true and correct in all material respects on the Closing Date
with the same effect as though such representations and warranties had been made
on and as of such date.

                  (ii)     Performance. The Purchaser shall have performed and
complied in all material respects with all agreements and conditions contained
herein required to be performed or complied with by them prior to or on the
Closing Date.

                  (iii)    All Proceedings to Be Satisfactory. All proceedings
to be taken by the Purchaser and all waivers and consents to be obtained by the
Purchaser in connection with the transactions contemplated hereby shall have
been taken or obtained by the Purchaser and all documents incident thereto shall
be satisfactory in form and substance to the Company and its counsel.

                                       18
<PAGE>

                  (iv)     Legal Proceedings. On such Closing Date, no
preliminary or permanent injunction or other order, decree or ruling issued by
any court of competent jurisdiction nor any statute, rule, regulation or order
entered, promulgated or enacted by any governmental, regulatory or
administrative agency or authority, or national securities exchange shall be in
effect that would prevent the consummation of the transactions contemplated by
this Agreement.

                  (v)      Ancillary Agreements. The Purchaser shall have
executed and delivered each of the Ancillary Agreements.

         SECTION 6.02. Subsequent Closings.

         (a)      Conditions Precedent to the Obligations of the Purchaser in
subsequent Closings. With regard to all Closings after the Initial Closing,
including the June 2001 Closing, the obligations of the Purchaser hereunder are,
at their option, subject to the satisfaction of the following conditions:

                  (i)      Representations and Warranties to Be True and
Correct. The representations and warranties of the Company contained in this
Agreement shall be true and correct in all material respects on such Closing
Date with the same force and effect as though such representations and
warranties had been made on and as of such date, except in any such case that
would not have a Material Adverse Effect.

                  (ii)     Performance. The Company shall have performed and
complied in all material respects with all agreements and conditions contained
herein required to be performed or complied with by it prior to or on such
Closing Date.

                  (iii)    All Proceedings to Be Satisfactory. All corporate and
other proceedings to be taken by the Company and all waivers and consents to be
obtained by the Company in connection with the transactions contemplated hereby,
including, but not limited to, any such requirements of the Marketplace Rules of
the Nasdaq National Market and those set forth in Schedule 2.04, shall have been
taken or obtained by the Company, and all documents incident thereto shall be
satisfactory in form and substance to the Purchaser and their counsel. Also, if
the satisfaction by Reuters of the Funding Request relating to such Closing
would cause Reuters and/or its affiliates to become an "interested stockholder"
for purposes of DGCL 203, Reuters shall not be required to complete such Closing
unless it receives evidence reasonably satisfactory to it, including resolutions
of Company's Board of Directors and an opinion of counsel to the Company, to the
effect that the transactions contemplated by such subsequent Closing have been
approved by the Company's Board of Directors, including for purposes of DGCL
203.

                  (iv)     Legal Proceedings. On such Closing Date, no
preliminary or permanent injunction or other order, decree or ruling issued by
any court of competent jurisdiction nor any statute, rule, regulation or order
entered, promulgated or enacted by any governmental, regulatory or
administrative agency or authority, or national securities exchange shall be in
effect that would prevent the consummation of the transactions to be effected at
such Closing contemplated by this Agreement.

                                       19
<PAGE>

                  (v)      No Default. No Event of Default (as defined in the
Notes) shall have occurred and be continuing with respect to the Notes
outstanding.

                  (vi)     Network Services Agreement. Reuters Limited and the
Company shall have executed a term sheet (the "Network Services Agreement Term
Sheet"), in form and substance satisfactory to Reuters Limited, for an agreement
(a "Network Services Agreement") for supply by the Company to Reuters Limited of
certain data transport network services and the operation, management and
maintenance thereof.

                  (vii)    Cure of Defaults. Any default or event of default
occurring and continuing as of the date of such Closing pursuant to any
agreement to which the Company is a party with (i) Nortel Networks Inc., (ii)
General Electric Capital Corporation or (iii) Welsh Carson shall have been cured
or waived on terms satisfactory to the Purchaser.

                  (viii)   Compliance Certificate. There shall have been
delivered to the Purchaser a certificate dated as of the date of such Closing,
signed by an executive officer of the Company, certifying that the conditions
specified in Sections 6.02(a)(i), (ii), (iii), (iv), (v) and (vii) have been
fulfilled.

                  (ix)     Opinions of Counsel. The Purchaser shall have
received from Hogan & Hartson L.L.P. and Steven M. Gallant, Esq., opinions dated
as of the date of such Closing, covering customary matters and otherwise
reasonably satisfactory in form and substance to the Purchaser and their
counsel.

         (b)      Condition Precedent to the Obligations of the Company in
subsequent Closings. With regard to Closings subsequent to the Initial Closing,
the obligations of the Company hereunder are, at their option, subject to the
satisfaction of the following condition:

                  (i)      Representations and Warranties to Be True and
Correct. The representations and warranties of the Purchaser contained in this
Agreement shall be true and correct in all material respects on the Closing Date
with the same effect as though such representations and warranties had been made
on and as of such date.

                                   ARTICLE VII

                     SURVIVAL OF REPRESENTATIONS; INDEMNITY

         SECTION 7.01. Survival of Representations. Subject as set forth below,
all representations and warranties made by any party hereto in this Agreement or
pursuant hereto shall survive for the period commencing on the date hereof and
ending on the first anniversary of the last Closing.

         SECTION 7.02. General Indemnity. (a)      Subject to the terms and
conditions of this Article VII, the Company hereby agrees to indemnify, defend
and hold the Purchaser and its affiliates harmless from and against all demands,
claims, actions or causes of action, assessments, losses (including, but not
limited to, diminution in value of the Notes or Conversion Shares), damages,
liabilities, costs and expenses, including, without limitation, interest,
penalties

                                       20
<PAGE>

and reasonable attorneys' fees and expenses (collectively, "Damages"), asserted
against, resulting to, imposed upon or incurred by the Purchaser by reason of or
resulting from a breach of any representation, warranty or covenant of the
Company contained in or made pursuant to this Agreement.

         (b)      Subject to the terms and conditions of this Article VII, the
Purchaser hereby agrees to indemnify, defend and hold the Company harmless from
and against all Damages asserted against, resulting to, imposed upon or incurred
by the Company by reason of or resulting from a breach of any representation,
warranty or covenant of the Purchaser contained in or made pursuant to this
Agreement.

         SECTION 7.03. Conditions of Indemnification. The respective several
obligations and liabilities of the Purchaser, on the one hand, and the Company,
on the other hand (the "indemnifying party"), to the other (the "party to be
indemnified") under Section 7.02 hereof with respect to claims resulting from
the assertion of liability by third parties shall be subject to the following
terms and conditions:

         (a)      within 20 days after receipt of notice of commencement of any
action or the assertion in writing of any claim by a third party, the party to
be indemnified shall give the indemnifying party written notice thereof together
with a copy of such claim, process or other legal pleading, and the indemnifying
party shall have the right to undertake the defense thereof by representatives
of its own choosing;

         (b)      in the event that the indemnifying party, by the 30th day
after receipt of notice of any such claim (or, if earlier, by the tenth day
preceding the day on which an answer or other pleading must be served in order
to prevent judgment by default in favor of the Person asserting such claim),
does not elect to defend against such claim, the party to be indemnified will
(upon further notice to the indemnifying party) have the right to undertake the
defense, compromise or settlement of such claim on behalf of and for the account
and risk of the indemnifying party, subject to the right of the indemnifying
party to assume the defense of such claim at any time prior to settlement,
compromise or final determination thereof, provided that the indemnifying party
shall be given at least 15 days prior written notice of the effectiveness of any
such proposed settlement or compromise;

         (c)      anything in this Section 7.03 to the contrary notwithstanding
(i) if there is a reasonable probability that a claim may materially and
adversely affect the indemnifying party other than as a result of money damages
or other money payments, the indemnifying party shall have the right, at its own
cost and expense, to compromise or settle such claim, but (ii) the indemnifying
party shall not, without the prior written consent of the party to be
indemnified, settle or compromise any claim or consent to the entry of any
judgment which does not include as an unconditional term thereof the giving by
the claimant or the plaintiff to the party to be indemnified a release from all
liability in respect of such claim; and

         (d)      in connection with any such indemnification, the indemnified
party will cooperate in all reasonable requests of the indemnifying party.

                                       21
<PAGE>

                                  ARTICLE VIII

                                  MISCELLANEOUS

         SECTION 8.01. Restrictive Legends. Each Note and each certificate
representing the Conversion Shares and any shares of capital stock received in
respect thereof, whether by reason of a stock split or share reclassification
thereof, a stock dividend thereon or otherwise, and each certificate for any
such securities issued to subsequent transferees of any such certificate shall
be stamped or otherwise imprinted with the legends required to be borne by such
securities by the Registration Rights Agreement, except as expressly provided in
such agreement.

         SECTION 8.02. Survival of Agreements. Except as specifically limited as
provided in Section 7.01 hereto, all covenants, agreements, representations and
warranties made herein shall survive the execution and delivery of this
Agreement and the issuance, sale and delivery of the Notes pursuant hereto,
notwithstanding any investigation made at any time by or on behalf of any party
hereto. All statements contained in any certificate or other instrument
delivered by the Company hereunder shall be deemed to constitute representations
and warranties made by the Company.

         SECTION 8.03. Parties in Interest. All covenants and agreements
contained in this Agreement by or on behalf of any party hereto shall bind and
inure to the benefit of the respective successors and permitted assigns of such
party hereto whether so expressed or not.

         SECTION 8.04. Notices. Any notice or other communications required or
permitted hereunder shall be deemed to be sufficient if contained in a written
instrument delivered in person or duly sent by first class certified mail,
postage prepaid, by nationally recognized overnight courier, or by facsimile
addressed to such party at the address or facsimile number set forth below or
such other address or facsimile number as may hereafter be designated in writing
by the addressee to the addressor listing all parties:

                  if to the Company, to:

                           SAVVIS Communications Corporation
                           12851 Worldgate Drive
                           Herndon, Virginia  20170
                           Fax:  (703) 234-8315
                           Attention:  Ms. Nancy Lysinger

                  with a copy to:

                           SAVVIS Communications Corporation
                           717 Office Parkway
                           St. Louis, Missouri  63141
                           Fax: (314) 468-7550
                           Attention: Steven M. Gallant, Esq.

                  with a copy to:

                                       22
<PAGE>

                           Hogan & Hartson L.L.P.
                           885 Third Avenue, 26th Floor
                           New York, New York  10022
                           Fax: (212) 409-9801
                           Attention:  Christine M. Pallares, Esq.

                  if to the Purchaser, to the address set forth under the
         Purchaser's name on Schedule I hereto.

                  with a copy to:

                           Weil, Gotshal & Manges LLP
                           767 Fifth Avenue
                           New York, New York  10153
                           Fax:  (212) 310-8007
                           Attention:  David E. Zeltner, Esq.

or, in any case, at such other address or addresses as shall have been furnished
in writing by such party to the other parties hereto. All such notices,
requests, consents and other communications shall be deemed to have been
received (a) in the case of personal delivery, on the date of such delivery, (b)
in the case of mailing, on the fifth business day following the date of such
mailing, (c) in the case of delivery by overnight courier, on the business day
following the date of delivery to such courier, and (d) in the case of
facsimile, when received.

         SECTION 8.05. Further Assurances. Subject to the terms and conditions
herein provided, each of the parties hereto agrees to use its reasonable best
efforts to take, or cause to be taken, all action and to do, or cause to be
done, all things necessary, proper or advisable to consummate and make effective
as promptly as practicable the transactions contemplated by this Agreement.

         SECTION 8.06. Entire Agreement; Assignment. This Agreement (including,
but not limited to, the Schedules and Exhibits thereto) constitutes the entire
agreement of the parties with respect to the subject matter hereof and may not
be amended or modified nor any provisions waived except in a writing signed by
the Company and the Purchaser. This Agreement shall not be assigned without the
consent of the other parties hereto, except that notwithstanding anything to the
contrary contained herein, the Purchaser may assign all or any portion of such
Notes and the related rights and obligations hereunder to any parent,
subsidiary, successor, assign or affiliate. It is understood and agreed that, in
the event of such assignment, each of such transferee shall, at such time, agree
to be a "Purchaser" for all purposes of this Agreement, and the Purchaser shall
not be released from its liabilities under this Agreement.

         SECTION 8.07. Press Releases and Public Announcements. The Company and
the Purchaser shall use reasonable best efforts to agree upon the form, content
and timing of a public announcement regarding the terms of this Agreement
promptly upon execution hereof. All other public announcements or disclosures
relating to this Agreement shall be made only if mutually

                                       23
<PAGE>

agreed upon by the Company and the Purchaser, except to the extent such
disclosure is, in the opinion of the Company's or the Purchaser's legal counsel,
required by law or by regulation of any applicable national stock exchange or
any SEC-recognized trading market or equivalent foreign exchange or trading
market; provided that any such required disclosure shall only be made, to the
extent consistent with law and regulation of any applicable national stock
exchange or SEC-recognized trading market or equivalent foreign exchange or
trading market, after consultation with the Purchaser or the Company, as
applicable. The Company and the Purchaser further agree that notwithstanding the
foregoing, neither the Company nor the Purchaser (or any affiliate) shall make
any press release or public disclosure whatsoever with respect the terms or
status of the negotiation of any possible Network Services Agreement between the
Company and Reuters Limited, unless such agreement has been executed by the
parties thereto, and only then upon mutual agreement of such parties.

         SECTION 8.08. Termination. (a)      This Agreement may be terminated at
any time prior to the Closing:

                  (i)      by mutual written agreement of the Company and the
Purchaser; or

                  (ii)     by either the Company or the Purchaser if
consummation of the transactions contemplated hereby would violate any
nonappealable final order, decree or judgment of any court or Governmental
Authority having competent jurisdiction.

         The party desiring to terminate this Agreement pursuant to Section
8.08(a)(ii) hereof shall promptly give notice of such termination to the other
party.

         (b)      If this Agreement is terminated as permitted by this Section
8.08, such termination shall be without liability of either party (or any
stockholder, director, officer, employee, agent, consultant or representative of
such party) to the other parties to this Agreement; provided that if such
termination shall result from the willful (i) failure of either party to fulfill
a condition to the performance of the obligations of the other party, (ii)
failure to perform a covenant of this Agreement or (iii) breach by either party
hereto of any representation or warranty or agreement contained herein, such
party shall be fully liable for any and all losses incurred or suffered by the
other party as a result of such failure or breach. The provisions of Sections
8.02, 8.03, 8.04, 8.07, 8.10 and 8.11 shall survive any termination hereof
pursuant to this Section 8.08.

         SECTION 8.09. Counterparts. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

         SECTION 8.10. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York.

                                       24
<PAGE>

         SECTION 8.11. Amendments and Waivers. (a) Any provision of this
Agreement may be amended or waived if, but only if, such amendment or waiver is
in writing and is signed, in the case of an amendment, by each party to this
Agreement, or in the case of a waiver, by the party against whom the waiver is
to be effective.

         (b)      No failure or delay by any party in exercising any right,
power or privilege hereunder will operate as a waiver thereof, nor will any
single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege, nor will any
waiving of any right power or privilege operate to waive any other subsequent
right, power or privilege. The rights and remedies herein provided will be
cumulative and not exclusive of any rights or remedies provided by law.

         SECTION 8.12. Taxes. Each party hereto acknowledges that it is
responsible for the payment of its own taxes including filing of corresponding
tax returns and submission of any form or other document relating to the
imposition of such taxes. Failure to provide any such form or document may
result in payments hereunder being made net of an amount necessary to satisfy
applicable withholding tax requirements.

                            [signature page follows]

                                       25
<PAGE>

         IN WITNESS WHEREOF, the Company and the Purchaser have executed this
Agreement as of the day and year first above written.

                                    SAVVIS COMMUNICATIONS CORPORATION

                                    By:  /s/ Steven M. Gallant
                                       -----------------------------------------
                                        Name:  Steven M. Gallant
                                        Title: Vice President, General Counsel

                                    REUTERS HOLDINGS SWITZERLAND SA

                                    By: /s/ Devin Wenig
                                       -----------------------------------------
                                        Name:  Devin Wenig
                                        Title: Attorney-in-Fact

<PAGE>

                                   SCHEDULE I

                             Maximum Funding Amounts

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
    Name and Address of                                                                     September
         Purchaser             May 2001       June 2001       July 2001     August 2001       2001*       October 2001*      Total
------------------------------------------------------------------------------------------------------------------------------------
<S>                          <C>            <C>             <C>            <C>            <C>             <C>            <C>
Reuters Holdings
Switzerland SA
c/o Reuters America Inc.
The Reuters Building         $10,000,000    $10,000,000     $7,500,000     $2,500,000     $7,500,000      $7,500,000     $45,000,000
3 Times Square -20th Fl.                                                                                                 -----------
New York, NY 10036
Attn:  Mr. David Distel
Fax:  (646) 223-4237
------------------------------------------------------------------------------------------------------------------------------------
<FN>
                              *See Section 1.02(c ) for conditions upon which Funding Requests may be
                              presented to the Purchaser in September 2001 and October 2001.
</FN>
</TABLE>

<PAGE>

                                SCHEDULE 2.03(B)

                             CONVERTIBLE SECURITIES

         $20,000,000 aggregate principal amount of the Company's 10% Convertible
Senior Secured Notes due February 20, 2006 (the "Notes"), including Notes issued
as payment-in-kind interest thereunder.

<PAGE>

                                  SCHEDULE 2.04

                           AUTHORIZATION OF AGREEMENT

1.       The consent of the Company's lenders under the Credit Agreement (as
         defined in Section 2.09).

2.       The consent of individuals and entities affiliated with Welsh Carson
         Anderson & Stowe under the Missouri Future Advance Deed of Trust and
         Security Agreement dated as of February 19, 2001.

3.       The Board of Directors of the Company has only approved the
         transactions contemplated by the Agreement for up to the lesser of (i)
         $30,000,000 aggregate principal amount of Notes, and (ii) such maximum
         aggregate principal amount of Notes that are convertible into less than
         15% of the outstanding voting stock of the Company, and therefore any
         funding in accordance with Section 1 of the Agreement that would result
         in the Purchaser owning 15% or more of the Company's outstanding voting
         stock will require further approval by the Company's Board of
         Directors.

4.       The approval of the Company's stockholders of the issuance of the
         Purchaser Conversion Preferred, if such approval is required under the
         Market Place Rules of the Nasdaq Stock Market or any other applicable
         rules or regulations of the National Association of Securities Dealers,
         Inc.

<PAGE>

                                  SCHEDULE 2.07

1.       On April 18, 2001, Winstar Communications Inc., along with certain of
         its subsidiaries, voluntarily filed for protection under Chapter 11 of
         the U.S. Bankruptcy Code with the U.S. Bankruptcy Court for the
         District of Delaware. As a result of the breach by Winstar Wireless,
         Inc. ("Winstar") of the terms of the Master Agreement, dated as of June
         30, 2000, between SAVVIS Missouri and Winstar, as amended, the Company
         on April 17, 2001 sent a contractual termination letter to Winstar.
         Because of the resulting abandonment of the deployment of the wireless
         network technology, the Company may have to record a write down to net
         realizable value of certain of its purchased equipment from Winstar
         that was intended for deployment on the Company's network. Should the
         full write down be necessary, the amount has been tentatively estimated
         to be approximately $29 million.

2.       The Company has terminated its Contract for Colocation Services in
         Dallas, Texas, Medford, Massachusetts, Miami, Florida and Vienna,
         Virginia with CoLo.Com (the "Colo.Com Agreement"). Colo.Com has
         notified the Company that it owes Colo.Com a total amount of
         $1,597,816.23 under the Colo.Com Agreement, representing amounts past
         due and the remaining contract value of the canceled Colo.Com
         Agreement.

3.       A mechanics lien for a debt of approximately $73,400 has been filed on
         SAVVIS Missouri's data center in San Francisco resulting from a
         nonpayment by SAVVIS Missouri relative to certain construction at such
         data center, which lien may constitute a default by SAVVIS Missouri
         under its lease at such data center.

4.       Various mechanic's and materialmen's liens have been filed against the
         Hazelwood Data Center in Missouri for a total debt of approximately
         $2.7 million.

5.       The Company has received notification from the Nasdaq Stock Market that
         its Common Stock has failed to maintain a minimum closing bid price of
         $1.00 per share for 30 consecutive trading days.

6.       The Company and/or SAVVIS Missouri have entered into arrangements with
         a number of vendors in connection with the late payment of invoices.

7.       Bridge's international subsidiaries have failed to make payments due
         under various network services agreements relating thereto.

8.       Bridge's filing for bankruptcy.

9.       The cash situation of the Company as reflected on the Cash Flow
         Projection.

<PAGE>

10.      A lien has been filed against SAVVIS Missouri's facility in Herndon,
         Virginia in regard of a disputed payment of $60,000.

11.      Any other events of default or alleged events of default under any
         leases of real estate by Company and/or SAVVIS Missouri to the extent
         such event of default or alleged event of default occurred on or prior
         to the date of this Agreement and/or matters under any such leases
         occurring on or prior to the date of this Agreement which, with the
         passage of time, would constitute an event of default or alleged event
         of default under such leases.

12.      The filing of any mechanic's or materialmen's liens against or
         otherwise encumbering any of the Mortgaged Property (as defined in the
         Deed of Trust by SAVVIS Missouri in favor of Purchaser dated as of May
         16, 2001) arising out of the construction by or for the benefit of
         SAVVIS Missouri of the Building (as defined in such Deed of Trust) to
         the extent of any of such construction completed as of the date of this
         Agreement.

13.      Any insolvency of the Company or SAVVIS Missouri (it being understood
         that neither the Company nor SAVVIS Missouri are acknowledging or
         confirming the existence of any such insolvency nor shall they be
         deemed to be waiving any right to dispute any assertion that one or
         either of them were, prior to the date of this Agreement, insolvent).

Neither the Company nor SAVVIS Missouri are acknowledging or admitting the
validity of claims or assertion by any person or entity against the Company
and/or SAVVIS Missouri concerning any of the foregoing matters.

<PAGE>

                                  SCHEDULE 2.09

1.       Stipulation and Order, dated April 9, 2001, by and among the Company,
         AT&T Corp., Bridge and its related debtor entities.

2.       Stipulation and Order, dated March 22, 2001, by and among the Company,
         Sprint Communications Company L.P., Bridge and its related debtor
         entities.

3.       Stipulation and Order, dated March 23, 2001 by and among the Company,
         MCI/WorldCom Communications Corporation and certain of its affiliates,
         Bridge and its related debtor entities.

4.       Stipulation and Order, dated March 22, 2001 between Bridge and the
         Company.

5.       Agreement Regarding the Supplemental Terms of the Interim SAVVIS
         Financing as Approved by the May 3, 2001 Order of the United States
         Bankruptcy Court for the Eastern District of Missouri (relating to the
         note to Bridge and amounts owed by Bridge to the Company under the
         network services agreement) (the "Agreement Regarding Supplemental
         Terms").

<PAGE>

                                  SCHEDULE 2.10

1.       On April 27, 2001, a complaint was filed by MHI DC, Inc. in the United
         States District Court for the Eastern District of Virginia for an
         amount of $867,000 in compensatory damages, plus pre-judgment interest,
         costs and alternative or additional relief, including attorneys' fees.

2.       On May 10, 2001, a summons was filed by Heritage Exhibits, an Iowa
         corporation, in the District Court of Clark County, Nevada concerning
         one of the Company's exhibit booths, requesting monetary relief in
         excess of $40,000 for outstanding invoices.

3.       Sprint has filed a Motion for an Order Permitting Termination of
         Agreement with the Company in the United States Bankruptcy Court for
         the Eastern District of Missouri (Case No. 01-0141593-393).

<PAGE>

                                  SCHEDULE 2.12

                                    CONTRACTS

1.       Events of Default (as defined in the Credit Agreement), including
         payment defaults, have occurred under the Credit Agreement.

2.       The Company has failed to make payments due under the Sublease
         Agreement, dated as of February 18, 2000, between the Company and
         Bridge.

3.       SAVVIS Missouri has failed to make payments due under the Ground Lease
         Agreement, dated as of February 18, 2000, between SAVVIS Missouri and
         Bridge Data Company.

4.       The Company has failed to make payments due under its capital lease
         facility with General Electric Capital Corporation.

5.       Bridge is in default under the Network Services Agreement, dated
         February 18, 2000, between the Company and Bridge.

6.       Bridge's international subsidiaries have failed to make payments due
         under various network services agreements relating thereto.

7.       Bridge has breached certain of its covenants under the Master
         Establishment and Transition Agreement, dated February 9, 2000, between
         the Company and Bridge (the "MEAT Agreement"). The Company does not
         intend to purchase the Call Assets (as such term is defined in the MEAT
         Agreement) from Bridge.

8.       The Company owes Bridge approximately $23 million under a term note due
         February 18, 2001, which it intends to set-off, if permitted by
         applicable law, against Bridge's indebtedness to the Company as of
         February 15, 2001, the date of Bridge's bankruptcy filing.

9.       The enforceability of all agreements with Bridge is affected by the
         bankruptcy of Bridge.

10.      The Company is in default under the Managed Network Agreement, dated
         August 23, 1995, between Sprint Communications Company L.P. and Bridge
         Data Company, as amended. Sprint Communications Company, L.P. has filed
         a Motion for an Order Permitting Termination of Agreement with the
         Company in the United States Bankruptcy Court for the Eastern District
         of Missouri (Case No. 01-0141593-393).

11.      The Company is late in making payments due under the Service Agreement,
         dated August 15, 1996, between the Company and IXC Carrier, Inc., as
         amended.

<PAGE>

12.      There is a dispute concerning payments under the Long Haul IRU
         Agreement, dated as of August 2, 2000, between SAVVIS Missouri and
         Level 3 Communications, LLC.

13.      There is a dispute concerning payments under the Metro IRU Agreement,
         dated as of August 2, 2000, between SAVVIS Missouri and Level 3
         Communications, LLC.

14.      The Company has received notice from Kiel Center Partners, L.P. a
         Missouri limited partnership ("Kiel") with respect to the Naming Rights
         Agreement, dated as of August 17, 2000, by and among Kiel, the Company
         and Bridge, alleging that an Event of Default (as defined therein) has
         occurred thereunder.

15.      Winstar has breached the terms of the Master Agreement, dated as of
         June 30, 2000, between SAVVIS Missouri and Winstar.

16.      The Company is in default under the Company's 10% Convertible Senior
         Secured Notes due February 20, 2006.

17.      The Company has failed to make payments due under the Master Lease
         Agreement Number 9029, Schedule No. 04, dated July 31, 1997, between
         the Company and Ascend Credit Corporation.

18.      A mechanics lien for a debt of approximately $73,400 has been filed on
         SAVVIS Missouri's data center in San Francisco, resulting from
         nonpayment by SAVVIS Missouri relative to certain construction at such
         Data Center, which lien may constitute an event of default under the
         Lease, dated as of February 29, 2000, between SAVVIS Missouri and the
         United States Postal Service.

19.      Various mechanic's and materialmen's liens have been filed against the
         Hazelwood Data Center in Missouri for a total debt of approximately
         $2.7 million.

20.      A lien has been filed against SAVVIS Missouri's facility in Herndon,
         Virginia in regard of a disputed payment of $60,000.

21.      SAVVIS Missouri has received a notice alleging that it is in default
         under the Lease, dated September 2000, between SAVVIS Missouri and
         Hudson Telecom Center, LLC, relating to property located on 325 Hudson
         Street, New York, New York.

22.      The Company is in a dispute concerning payments under the Lease, dated
         March 3, 2000, between SAVVIS Missouri and WXIII/FAR Yale Real Estate
         Limited Partnership, relating to property located on 451 D Street,
         Boston, Massachusetts.

23.      The Colo.Com Agreement has been terminated. Colo.Com has notified the
         Company that it owes Colo.Com a total amount of $1,597,816.23 under the
         Colo.Com Agreement, representing amounts past due and the remaining
         contract value of the canceled Colo.Com Agreement.

<PAGE>

24.      Any other events of default or alleged events of default under any
         leases of real estate by Company and/or SAVVIS Missouri to the extent
         such event of default or alleged event of default occurred on or prior
         to the date of this Agreement and/or matters under any such leases
         occurring on or prior to the date of this Agreement which, with the
         passage of time, would constitute an event of default or alleged event
         of default under such leases.

25.      The filing of any mechanic's or materialmen's liens against or
         otherwise encumbering any of the Mortgaged Property (as defined in the
         Deed of Trust by SAVVIS Missouri in favor of Purchase dated as of May
         16, 2001) arising out of the construction by or for the benefit of
         SAVVIS Missouri of the Building (as defined in such Deed of Trust) to
         the extent of any of such construction completed as of the date of this
         Agreement.

26.      Any insolvency of Company or SAVVIS Missouri (it being understood that
         neither the Company nor SAVVIS Missouri are acknowledging or confirming
         the existence of any such insolvency or waiver nor shall they be deemed
         to be waiving any right to dispute any assertion that one or either of
         them were, prior to the date of this Agreement, or are as of the date
         of this Agreement, insolvent).

Neither the Company nor SAVVIS Missouri are acknowledging or admitting the
validity of claims or assertion by any person or entity against the Company
and/or SAVVIS Missouri concerning any of the foregoing matters.

Material Contracts To Be Filed:

1.       Stipulation and Order, dated March 23, 2001 between Bridge and the
         Company.

2.       Modification of Missouri Future Advance Deed of Trust and Security
         Agreement, dated as of February 19, 2001, among SAVVIS Missouri, Welsh
         Carson Anderson & Stowe VIII, L.P. and WCAS Management Corporation.

3.       Reuters Network Services Term Sheet.

4.       Agreement Regarding Supplemental Terms.

5.       First Amendment To Amended And Restated Credit Agreement by and among
         the Company, SAVVIS Missouri, each of the undersigned Lenders (as
         therein defined) and Nortel Networks Inc.

<PAGE>

                                  SCHEDULE 2.14

Stipulation and Order, dated March 23, 2001 between Bridge and the Company.

<PAGE>

                                    EXHIBIT A

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND MAY NOT BE TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS IT HAS BEEN
REGISTERED UNDER THAT ACT OR, IN THE OPINION OF COUNSEL REASONABLY ACCEPTABLE TO
THE CORPORATION, AN EXEMPTION FROM REGISTRATION IS AVAILABLE.

FOR PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED, AND THE RULES AND REGULATIONS THEREUNDER, THIS NOTE IS BEING
ISSUED WITH ORIGINAL ISSUE DISCOUNT ("OID"): (1) THE ISSUE PRICE IS THE NOTE'S
STATED PRINCIPAL AMOUNT; (2) THE ISSUE DATE IS __________, 2001; (3) THE YIELD
TO MATURITY (COMPOUNDED QUARTERLY) IS ___%; AND (4) THE AMOUNT OF THE ORIGINAL
ISSUE DISCOUNT IS [$insert total interest to be paid on the Note through
Maturity] (NOT INCLUDING ANY OID WITH RESPECT TO ADDITIONAL NOTES ISSUED IN LIEU
OF CASH INTEREST PAYMENTS).

                        SAVVIS COMMUNICATIONS CORPORATION

                       12% Convertible Senior Secured Note

                                 due May 1, 2005

Registered S-01                                               New York, New York
$___________                                                    __________, 2001

         SAVVIS COMMUNICATIONS CORPORATION, a Delaware corporation (hereinafter
called the "Corporation"), for value received, hereby promises to pay Reuters
Holdings Switzerland SA, or registered assigns (the "Holder"), the principal sum
of ____________________________ ($____________), in a single installment on May
1, 2005 (the "Maturity Date"), or the next preceding Business Day (as defined
below) with interest (computed on the basis of a 360-day year) from the date
hereof on the unpaid principal amount hereof. Such interest shall accrue at the
rate of 12% per annum, compounded on a quarterly basis, payable on the first day
of February, May, August and November of each year (each such day being an
"Interest Payment Date") commencing on August 1, 2001, by, at the option of the
Corporation, (i) the payment of cash to the Holder or, (ii) until August 1,
2004, the issuance of an additional Note or Notes (each a "PIK Note") by the
Corporation in favor of the Holder, in substantially the form hereof, in a
principal amount equal to the interest payable to such holder on such Interest
Payment Date, until the principal amount hereof shall have become due and
payable, whether at maturity or by acceleration or otherwise, and thereafter at
the rate of 14% per annum on any overdue principal amount and (to the extent
permitted by applicable law) on any overdue interest until paid.

         The payment of principal and interest on this Note shall be in such
currency of the United States of America as at the time of payment shall be
legal tender for payment of public and private debts.

<PAGE>

         If for any reason one or more PIK Notes shall not be delivered in
accordance herewith, interest on the unpaid principal of each PIK Note shall
accrue from the Interest Payment Date in respect of which such PIK Note should
have been issued until repayment in cash of the principal and payment in cash of
all accrued interest in full. Interest shall accrue on this Note such that the
aggregate interest due and payable on the Maturity Date and on each Interest
Payment Date would be the same as if all PIK Notes not issued had been issued in
accordance with the terms of this Note, and the principal payable on the
Maturity Date with respect to this Note shall be an amount equal to the sum of
the principal outstanding hereunder and the aggregate principal which would be
outstanding if the PIK Notes not issued had been issued in accordance with the
terms of this Note.

         For purposes of this Note, "Business Day" shall mean any day other than
a Saturday, Sunday or a legal holiday under the laws of the State of New York.

         1.       NOTES AND SECURITY. This Note is issued pursuant to the
Securities Purchase Agreement, dated as of May 16, 2001 (the "Purchase
Agreement"), by and between the Corporation and Reuters Holdings Switzerland SA,
a societe anonyme organized under the laws of Switzerland, providing for, among
other things, the issuance of 12% Convertible Senior Secured Notes due May 1,
2005 in the aggregate principal amount not to exceed $45,000,000 (such 12%
Convertible Senior Secured Notes are referred to herein collectively as the
"Notes"). All payments of principal and interest on this Note shall be secured
pursuant to the terms of that certain Missouri Future Advance Deed of Trust and
Security Agreement, dated as of May 11, 2001, as amended or supplemented from
time to time between the Corporation's subsidiary, Savvis Communications
Corporation, a Missouri corporation, and the other parties thereto. Capitalized
terms used herein but not otherwise defined shall have the meaning ascribed to
them in the Purchase Agreement.

         2.       TRANSFER OR EXCHANGE OF NOTES. The Corporation shall keep at
its office or agency maintained as provided in subsection (a) of Section 9 a
register in which the Corporation shall provide for the registration of Notes
and for the registration of transfer and exchange of Notes. The holder of this
Note may, at its option, and either in person or by duly authorized attorney,
surrender the same for registration of transfer or exchange at the office or
agency of the Corporation maintained as provided in subsection (a) of Section 9,
and, without expense to such holder (except for taxes or governmental charges
imposed in connection therewith), receive in exchange therefore a Note or Notes
in such denomination or denominations as such holder may request (but in any
event in denominations of not less than $1,000 principal amount, dated as of the
date to which interest has been paid on the Note or Notes so surrendered for
transfer or exchange, for the same aggregate principal amount as the then unpaid
principal amount of the Note or Notes so surrendered for transfer or exchange,
and registered in the name of such person or persons as may be designated by
such holder. Every Note presented or surrendered for registration of transfer or
exchange shall be duly endorsed, or shall be accompanied by a written instrument
of transfer, satisfactory in form to the Corporation, duly executed by the
holder of such Note or his attorney, duly authorized in writing. Every Note

                                       2
<PAGE>

so made and delivered in exchange for this Note shall in all other respects be
in the same form and have the same terms as this Note. No transfer or exchange
of any Note shall be valid unless made in the foregoing manner at such office or
agency.

         3.       LOSS, THEFT, DESTRUCTION OR MUTILATION OF NOTE. Upon receipt
of evidence satisfactory to the Corporation of the loss, theft, destruction or
mutilation of this Note, and, in the case of any such loss, theft or
destruction, upon receipt of an affidavit of loss from the holder hereof
reasonably satisfactory to the Corporation, or, in the case of any such
mutilation, upon surrender and cancellation of this Note, the Corporation will
make and deliver, in lieu of this Note, a new Note of like tenor and unpaid
principal amount and dated as of the date to which interest has been paid on
this Note.

         4.       PERSONS DEEMED OWNERS; HOLDERS. The Corporation may deem and
treat the person in whose name any Note is registered as the owner and holder of
such Note for the purpose of receiving payment of principal and premium, if any,
and interest on such Note and for all other purposes whatsoever, whether or not
such Note shall be overdue. With respect to any Note at any time outstanding,
the term "holder," as used herein, shall be deemed to mean the person in whose
name such Note is registered as aforesaid at such time.

         5.       EARLY REDEMPTION.

         (a)      Upon Change of Control. The Corporation shall notify the
Holder at least 10 business days prior to a record date of a transaction which
would result in a Change of Control (as defined below) of the Corporation. Upon
receipt of such notice, the Holder shall have the right to require the
Corporation (i) to redeem any or all of this Note, including the PIK Notes (as
defined below), at a cash price equal to 100% of the principal amount of this
Note, plus all accrued and unpaid interest and the Applicable Premium Amount (as
defined below) as of the effective date of the Change of Control, or (ii) to
convert the principal amount of any or all of this Note (at the Holder's
option), including the PIK Notes and the Applicable Premium Amount (as defined
below), into shares of Common Stock, determined by dividing the aggregate
principal amount of this Note to be converted by the Common Stock Conversion
Price, with the proportional value of any fractional shares resulting therefrom
paid by the Corporation in cash to the Purchaser.

         (b)      Optional Prepayment by the Corporation. From and after the
first anniversary of the final Closing, the Corporation shall have the right to
prepay the entire principal amount, and only the entire principal amount, of the
Note, with all accrued and unpaid interest to the date of prepayment, at any
time without premium or penalty, upon at least 10 Business Days' notice of the
date of prepayment. The Holder shall have the right at any time prior to the
third business day prior to date of prepayment to convert this Note pursuant to
Section 15 hereof.

         (c)      Certain Definitions. As used herein, the following terms shall
have the following meanings:

                                       3
<PAGE>

          "Applicable Premium Amount" shall mean, with respect to this Note, as
     of any specified date prior to May 1, 2005, an amount equal to the interest
     that would have accrued on the outstanding principal amount of this Note
     during the period beginning on such date fixed and ending on May 1, 2005.

          "Change of Control" shall mean the consummation by the Corporation of
     (x) a merger or consolidation with or into any other entity (other than a
     merger or consolidation in which (1) at least 50% of the voting capital
     stock of the Corporation (or the surviving or resulting entity, if other
     than the Corporation) outstanding immediately after the effective date of
     such merger is owned of record or beneficially by persons who owned voting
     capital stock of the Corporation immediately prior to such merger or
     consolidation and in substantially the same proportions in which such stock
     was held immediately prior to such merger or consolidation and such persons
     continue to have the right to elect a majority of the Board of Directors of
     the Corporation, (2) immediately after the effective date of such merger or
     consolidation a majority of the seats on the Corporation's Board of
     Directors are held by persons who were directors of the Corporation
     immediately prior to such effective date, and (3) no Event of Default shall
     have occurred as a result of the consummation thereof), or (y) any sale,
     lease or other disposal of all or substantially all of its assets and
     properties as an entirety in a single transaction or series of related
     transactions to an unaffiliated third party purchaser or purchasers, or (z)
     a transaction or series of related transactions in which a majority of the
     outstanding capital stock of the Corporation shall be acquired by an
     unaffiliated third party or parties.

         6.       NOTICE OF PREPAYMENT AND OTHER NOTICES. The Corporation shall
give written notice of any prepayment of this Note pursuant to Section 5 not
less than 10 days prior to the date fixed for such prepayment. Such notice shall
include a reasonably-detailed description of the consideration, if any, to be
received by holders of Common Stock in connection with the related Change of
Control and a calculation of the Applicable Premium Amount to be paid in respect
of such prepayment. Such notice of prepayment and all other notices to be given
to any holder of this Note shall be given by registered or certified mail to the
person in whose name this Note is registered at its address designated on the
register maintained by the Corporation on the date of mailing such notice of
prepayment or other notice. Unless the holder elects prior to such date fixed
for prepayment to convert this Note pursuant to Section 15 hereof, upon notice
of prepayment being given as aforesaid, the Corporation covenants and agrees
that it will prepay, on the date therein fixed for prepayment, the entire
principal amount hereof together with interest accrued hereon and Applicable
Premium Amount hereon to the date fixed for such prepayment. Notwithstanding the
foregoing, any such notice may specify that the obligation to make such
prepayment is conditional upon the closing of the transaction requiring such
prepayment, and, unless a notice of conversion delivered pursuant to Section 15
states to the contrary, any notice of conversion given while such a transaction
is pending shall also be conditional upon the closing of such transaction, and
no prepayment shall be required and no conversion shall be effected, unless and
until such transaction is consummated.

                                       4
<PAGE>

         7.       INTEREST AND PREMIUM AFTER DATE FIXED FOR PREPAYMENT. If this
Note is to be prepaid pursuant to Section 5 hereof, this Note shall (unless the
provisions of the last sentence of Section 6 become applicable) cease to bear
interest on and after the date fixed for such prepayment unless, upon
presentation for the purpose, the Corporation shall fail to pay this Note, in
which event the principal amount of this Note, and, so far as may be lawful, any
overdue installment of interest or overdue Applicable Premium Amount, shall bear
interest on and after the date fixed for such prepayment and until paid at the
rate per annum provided herein for overdue principal.

         8.       SURRENDER OF NOTES; NOTATION THEREON. As a condition to
obtaining any payment of or receiving any shares issuable upon the conversion of
all or any portion of the principal amount of this Note, the Corporation may
require the holder hereof to surrender this Note, and in such event the
Corporation will execute and deliver at the expense of the Corporation, upon
such surrender, a new Note registered in the name of such person or persons as
may be designated by such holder for the principal amount of this Note then
remaining unpaid and not converted pursuant to Section 15 hereof, dated as of
the date to which interest has been paid on the principal amount of this Note
then remaining unpaid, or may require the holder to present this Note to the
Corporation for notation hereon of the conversion of the portion of the
principal amount of this Note so converted.

         9.       AFFIRMATIVE COVENANTS. The Corporation covenants and agrees
that, so long as any Note shall be outstanding:

         (a)      Maintenance of Office. The Corporation will maintain an office
or agency in Herndon, Virginia (or such other place in the United States of
America as the Corporation may designate in writing to the registered holder
hereof), where the Notes may be presented for registration of transfer and for
exchange as herein provided, where notices and demands to or upon the
Corporation in respect of the Notes may be served and where, at the option of
the holders thereof, the Notes may be presented for payment. Until the
Corporation otherwise notifies the holders of the Notes, said office shall be
the principal office of the Corporation in Herndon, Virginia.

         (b)      Payment of Taxes. The Corporation will promptly pay and
discharge or cause to be paid and discharged, before the same shall become in
default, all lawful taxes and assessments imposed upon the Corporation or any
subsidiary or upon the income and profits of the Corporation or any subsidiary,
or upon any property, real, personal or mixed, belonging to the Corporation or
any subsidiary, or upon any part thereof by the United States or any State
thereof, as well as all lawful claims for labor, materials and supplies, which,
if unpaid, would become a lien or charge upon such property or any part thereof;
provided, however, that the Corporation shall not be required to pay and
discharge or to cause to be paid and discharged any such tax, assessment,
charge, levy or claim (i) so long as both (x) the Corporation has set aside
adequate reserves for such tax, assessment, charge, levy or claim and (y) the
Corporation shall be contesting the validity thereof in good faith by
appropriate proceedings or the Corporation shall,

                                       5
<PAGE>

in its good faith judgment, deem the validity thereof to be questionable and the
party to whom such tax, assessment, charge, levy or claim is allegedly owed
shall not have made written demand for the payment thereof or (ii) where the
failure to pay or discharge would not have a material adverse effect on the
properties, assets, financial condition, operating results, business or
prospects of the Corporation and its subsidiaries, taken as a whole (a "Material
Adverse Effect").

         (c)      Corporate Existence. The Corporation will do or cause to be
done all things necessary and lawful to preserve and keep in full force and
effect its corporate existence, rights and franchises under the laws of the
United States or any State thereof; provided, however, that nothing in this
subsection (c) shall prevent a consolidation or merger of, or a sale, transfer
or disposition of all or any substantial part of the property and assets of, the
Corporation, or the abandonment or termination of any rights or franchises of
the Corporation, if such abandonment or termination is, in the good faith
business judgment of the Corporation, in the best interests of the Corporation
or would not have a Material Adverse Effect.

         (d)      Maintenance of Property. The Corporation will at all times
maintain and keep, or cause to be maintained and kept, in good repair, working
order and condition all significant properties of the Corporation used in the
conduct of the business of the Corporation, and will from time to time make or
cause to be made all needful and proper repairs, renewals, replacements,
betterments and improvements thereto, so that the business carried on in
connection therewith may be properly and advantageously conducted at all times;
provided, however, that nothing in this subsection (d) shall require the making
of any repair or renewal or the continuance of the operation and maintenance of
any property or the retention of any assets, if such action (or inaction) is, in
the good faith business judgment of the Corporation, in the best interests of
the Corporation or would not have a Material Adverse Effect.

         (e)      Insurance. The Corporation will keep adequately insured, by
financially sound and reputable insurers, all property of a character usually
insured by corporations engaged in the same or a similar business similarly
situated against loss or damage of the kinds customarily insured against by such
corporations and carry, with financially sound and reputable insurers, such
other insurance (including, without limitation, liability insurance) in such
amounts as are available at reasonable expense and to the extent believed
necessary in the good faith business judgment of the Corporation.

         (f)      Keeping of Books. The Corporation will at all times keep
proper books of record and account in which proper entries will be made of its
transactions in accordance with generally accepted accounting principles
consistently applied.

         (g)      Notice of Default. If any one or more events which constitute,
or which with notice or lapse of time or both would constitute, an Event of
Default under Section 11 shall occur, or if the holder of any Note shall demand
payment or take any other action permitted upon the occurrence of any such Event
of Default, the Corporation shall immediately after it becomes aware that any
such event would with or without notice or lapse of time or both constitute such

                                       6
<PAGE>

an Event or that such demand has been made or that any such action has been
taken, give notice to the holder of this Note, specifying the nature of such
event or of such demand or action, as the case may be; provided, however, that
if such event, in the good faith judgment of the Corporation, will be cured
within ten Business Days after the Corporation has knowledge that such event
would, with or without notice or lapse of time or both, constitute such an Event
of Default, no such notice need be given if such Event of Default shall be cured
within such ten-day period.

         (h)      Information Covenants. The Corporation will furnish each
                  Holder:

          (i) Annual Financial Statements. As soon as available, and in any
     event within 90 days after the close of each fiscal year of the
     Corporation, a consolidated balance sheet and income statement of the
     Corporation, as of the end of such fiscal year, together with related
     consolidated statements of operations and retained earnings and of cash
     flows for such fiscal year, setting forth in comparative form consolidated
     figures for the preceding fiscal year, all such financial information
     described above to be in reasonable form and detail and audited by
     independent certified public accountants of recognized national standing
     and whose opinion shall be to the effect that such financial statements
     have been prepared in accordance with generally accepted accounting
     principles ("GAAP") (except for changes with which such accountants concur)
     and shall not be limited as to the scope of the audit or qualified as to
     the status of the Corporation as a going concern;

          (ii) Quarterly Financial Statements. As soon as available, and in any
     event within 45 days after the close of each of the first three fiscal
     quarters of each fiscal year of the Corporation, a consolidated balance
     sheet and income statement of the Corporation, as of the end of such fiscal
     quarter, together with related consolidated statements of operations and
     retained earnings and of cash flows for such fiscal quarter, in each case
     setting forth in comparative form consolidated figures for the
     corresponding period of the preceding fiscal year or the end of the fiscal
     year, as presented by the Corporation in the Company SEC Filings, all such
     financial information described above to be in reasonable form and detail,
     and accompanied by a certificate of an executive officer of the Corporation
     to the effect that such quarterly financial statements fairly present in
     all material respects the financial condition of the Corporation and have
     been prepared in accordance with GAAP, subject to changes resulting from
     audit and normal year-end audit adjustments;

          (iii) Monthly Financial Information. A consolidated balance sheet and
     income statement of the Corporation as of the end of each month, together
     with related consolidated statements of cash flow, by the twentieth (20th)
     calendar day of each fiscal month, with respect to the preceding fiscal
     month; provided, however, at the end of each of the first three fiscal
     quarters of the fiscal year, the Corporation shall provide such
     consolidated balance sheet, income statement and statement of cash flow by
     the forty-fifth (45th) calendar day after the end of such fiscal quarter;
     and provided further, at the end of the fourth fiscal quarter of such
     fiscal year, the Corporation shall provide such consolidated statements by
     the ninetieth (90th) calendar day after the end of the fiscal

                                       7
<PAGE>

     year. The monthly financial statements shall be accompanied by a
     certificate of an executive officer of the Corporation to the effect that
     such monthly financial statements fairly present in all material respects
     the financial condition of the Corporation and have been prepared in
     accordance with GAAP, subject to changes resulting from audit and normal
     year-end audit adjustments;

          (iv) Annual Business Plan and Budgets. No later than the twenty-fifth
     (25th) calendar day prior to the end of each fiscal year of the
     Corporation, an annual business forecast of the Corporation containing,
     among other things, projected financial statements for the next fiscal
     year, financial and operating budgets and cash flow projections on a
     monthly basis (collectively, the "Annual Budget"); together with
     appropriate supporting details; as soon as possible, but in no event later
     than forty-five (45) days after the close of each of the first three fiscal
     quarters and ninety (90) days after the close of each fiscal year, a
     statement in which the actual results of such fiscal quarter are compared
     with the most recent forecasts for such fiscal quarter; and as soon as
     available, any material revisions to the Annual Budget;

          (v) Reports. Promptly upon transmission or receipt thereof, copies of
     any filings and registrations with, and reports to or from, the Securities
     and Exchange Commission, or any successor agency, and copies of all
     financial statements, proxy statements, notices and reports as the
     Corporation shall send to its shareholders or to a holder of any
     indebtedness owed by the Corporation in its capacity as such a holder;
     provided, however, that notwithstanding the foregoing, the Corporation will
     not furnish to any Holder any material non-public information regarding the
     Corporation unless such Holder shall have signed a confidentiality
     agreement reasonably acceptable to the Corporation agreeing to maintain
     such information confidential and to refrain from trading in the Common
     Stock until the Corporation has advised such Holder, or such Holder
     otherwise discovers, that such information has ceased to be material or has
     been disclosed to the public.

         10.      MODIFICATION BY HOLDERS; WAIVER. The Corporation may, with the
written consent of the holders of not less than 66 2/3% in principal amount of
the Notes then outstanding, modify the terms and provisions of the Notes or the
rights of the holders of the Notes or the obligations of the Corporation
thereunder, and the observance by the Corporation of any term or provision of
the Notes may be waived with the written consent of the holders of not less than
66 2/3% in principal amount of the Notes then outstanding; provided, however,
that no such modification or waiver shall:

          (a) change the maturity of any Note or reduce the principal amount
     thereof or reduce the rate or extend the time of payment of interest
     thereon or reduce the amount or change the time of payment of premium
     payable on any prepayment thereof without the consent of the holder of each
     Note so affected; or

          (b) give any Note any preference over any other Note; or

                                       8
<PAGE>

          (c) reduce the applicable aforesaid percentages of Notes, the consent
     of the holders of which is required for any such modification.

         Any such modification or waiver shall apply equally to all the holders
of the Notes and shall be binding upon them, upon each future holder of any Note
and upon the Corporation, whether or not such Note shall have been marked to
indicate such modification or waiver, but any Note issued thereafter shall bear
a notation referring to any such modification or waiver. Promptly after
obtaining the written consent of the holders as herein provided, the Corporation
shall transmit a copy of such modification or waiver to all the holders of the
Notes at the time outstanding.

         11.      EVENTS OF DEFAULT. If any one or more of the following events,
herein called "Events of Default," shall occur, for any reason whatsoever, and
whether such occurrence shall, on the part of the Corporation, be voluntary or
involuntary or come about or be effected by operation of law or pursuant to or
in compliance with any judgment, decree or order of a court of competent
jurisdiction or any order, rule or regulation of any administrative or other
governmental authority and such Event of Default shall be continuing:

          (a) default shall be made in the payment of the principal of any Note
     or the premium thereon, if any, when and as the same shall become due and
     payable, whether at maturity or at a date fixed for prepayment or by
     acceleration or otherwise; or

          (b) default shall be made in the payment of any installment of
     interest on any Note according to its terms when and as the same shall
     become due and payable and such default shall continue for a period of 15
     days; or

          (c) (i) commencement of a voluntary case under the federal bankruptcy
     laws (as now or hereafter in effect), (ii) filing a petition seeking to
     take advantage of any other laws, domestic or foreign, relating to
     bankruptcy, insolvency, reorganization, winding-up or composition for
     adjustment of debts, (iii) consenting to or failing to contest in a timely
     and appropriate manner any petition filed against it in an involuntary case
     under such bankruptcy laws or other laws, (iv) applying for or consenting
     to, or failing to contest to, in a timely and appropriate manner, the
     appointment of, or the taking of possession by, a receiver, custodian,
     trustee, or liquidator of itself or of a substantial part of its property,
     domestic or foreign, (v) admitting in writing its inability to pay its
     debts as they become due, (vi) making a general assignment for the benefit
     of creditors, or (vii) taking any corporate action for the purpose of
     authorizing any of the foregoing; or

          (d) the entry of a decree or order by any court of competent
     jurisdiction in respect of the Corporation or any material subsidiary
     granting (i) relief in any involuntary case under the federal bankruptcy
     laws (as now or hereafter in effect) or under any other laws, domestic or
     foreign, relating to bankruptcy, insolvency, reorganization, winding up or
     adjustment of debts, or (ii) appointment of a trustee, receiver, custodian,
     liquidator or the

                                       9
<PAGE>

     like for the Corporation or any material subsidiary or for all or any
     substantial part of their respective assets, domestic or foreign, and such
     case or proceeding shall continue undismissed or unstayed for a period of
     60 consecutive days; or

          (e) (i) a default by the Corporation in any material respect shall
     have occurred in any covenant to which the Corporation is subject in the
     Purchase Agreement or any Ancillary Document (as defined in the Purchase
     Agreement) or (ii) a payment default (other than any payment defaults
     disclosed in the Purchase Agreement including those payment defaults
     related to agreements with which the Company is a party with Nortel
     Networks Inc. or General Electric Capital Corporation (the "Specified
     Defaults"), provided, that such Specified Defaults are waived within 10
     days of the date hereof (or such later date as the Network Services Term
     Sheet is executed) and then only for so long as such waivers shall be in
     effect) shall have occurred or acceleration of the payment of the
     indebtedness (other than acceleration solely in response to any events of
     default disclosed in the Purchase Agreement) shall have been commenced
     under any agreement or document evidencing indebtedness of the Corporation;

then, the holder or holders of at least a majority in aggregate principal amount
of the Notes at the time outstanding may, at its or their option, by written
notice to the Corporation, declare all the Notes to be, and all the Notes shall
thereupon be and become, forthwith due and payable together with interest
accrued thereon without presentment, demand, protest or further notice of any
kind, all of which are expressly waived to the extent permitted by law;
provided, however, that, upon the occurrence and during the continuance of any
of the events specified in subsections (a) or (b) of this Section 11, the holder
of any Note at the time outstanding may, at its option by notice in writing to
the Corporation, declare any Note or Notes then held by it to be, and such Note
or Notes shall thereupon be and become, forthwith due and payable together with
interest accrued thereon without presentment, demand, protest or further notice
of any kind, all of which are expressly waived to the extent permitted by law.
Notwithstanding the foregoing, nothing in this Section 11 shall impair the right
of the holder of this Note to convert all or any portion of this Note into
Common Stock in accordance with the provisions of Section 15 hereof.

         At any time after any declaration of acceleration has been made as
provided in this Section 11, the holders of at least 66-2/3% in principal amount
of the Notes then outstanding may, by notice to the Corporation, rescind such
declaration and its consequences if the Corporation has paid all overdue
installments of interest on the Notes and all principal (and premium, if any)
that has become due otherwise than by such declaration of acceleration; and all
other defaults and Events of Default (other than nonpayments of principal and
interest that have become due solely by reason of acceleration) shall have been
remedied or cured or shall have been waived pursuant to this paragraph;
provided, however, that no such rescission shall extend to or affect any
subsequent default or Event of Default or impair any right consequent thereon.

         Without limiting the foregoing, the Corporation hereby waives any right
to trial by jury in any legal proceeding related in any way to this Note or the
Notes and agrees that any such proceeding may, if the holder so elects, be
brought and enforced in any state or, if

                                       10
<PAGE>

applicable federal court, located in New York City in the Borough of Manhattan
and the Corporation hereby waives any objection to jurisdiction or venue in any
such proceeding commenced in such court. The Corporation further agrees that any
process required to be served on it for purposes of any such proceeding may be
served on it, with the same effect as personal service on it within the State of
Delaware, by registered mail addressed to it at its office or agency set forth
in Section 19 for purposes of notices hereunder.

         12.      SUITS FOR ENFORCEMENT. In case any one or more of the Events
of Default specified in Section 11 of this Note shall happen and be continuing,
the holder of this Note may proceed to protect and enforce its rights by suit in
equity, action at law and/or by other appropriate proceeding, whether for the
specific performance of any covenant or agreement contained in this Note or in
aid of the exercise of any power granted in this Note, or may proceed to enforce
the payment of this Note or to enforce any other legal or equitable right of the
holder of this Note.

         In case of any default under any Note, the Corporation will pay to the
holder thereof such amounts as shall be sufficient to cover the out-of-pocket
costs and expenses of such holder due to said default, including, without
limitation, collection costs and reasonable attorneys' fees, to the extent
actually incurred.

         13.      REMEDIES CUMULATIVE. No remedy herein conferred upon the
holder of this Note is intended to be exclusive of any other remedy and each and
every such remedy shall be cumulative and shall be in addition to every other
remedy given hereunder or now or hereafter existing at law or in equity or by
statute or otherwise.

         14.      REMEDIES NOT WAIVED. No course of dealing between the
Corporation and the holders of this Note or any delay on the part of the holder
hereof in exercising any rights hereunder shall operate as a waiver of any right
of any holder of this Note.

         15.      CONVERSION.

         (a)      Conversion of this Note into Common Stock. All or a portion of
the principal amount of this Note shall, at any time and at the option of the
Holder, be convertible into a number of shares of Common Stock, calculated by
dividing the portion of the principal amount of such Notes to be converted
(together with any accrued and unpaid interest on such portion of the principal
amount) by $_____ (subject to equitable adjustment for stock splits, stock
dividends, recapitalizations, reorganizations or other similar events, the
"Common Stock Conversion Price" or "Conversion Price") with the proportional
value of any fractional shares resulting therefrom paid by the Corporation in
cash to the Holder upon conversion. The Holder will give the Corporation at
least 10 business days notice of its intention to convert all or a portion of
the principal amount of the Notes into Common Stock, except if such conversion
follows a notice of prepayment pursuant to Section 5(b) hereof. The Corporation
shall present and deliver certificates evidencing the proper number of shares of
Common Stock to the Holder, in such denominations and in such name or names as
the Holder may designate by notice to the

                                       11
<PAGE>

Corporation, to each Holder, at a time and place mutually agreeable to the
Holder and the Corporation, in exchange for delivery of this Note to the
Corporation. Upon receipt of this Note in exchange for such certificate or
certificates of Common Stock, the Corporation shall cancel and destroy this
Note, and this Note shall thereafter be null, void and of no effect. If any of
the principal amount of Note tendered to the Corporation pursuant to this
Section 15(a) shall remain unconverted and outstanding following the issuance of
such Common Stock, the Corporation shall execute and deliver to the Holder at
the same time and in the same manner as the certificate evidencing such Holder's
Common Stock is delivered, a replacement note that shall be identical in all
respects as this Note, except that the principal amount shall be reduced by the
principal amount of this Note converted to Common Stock. If this Note has been
issued pursuant to a Funding Request that is delivered after the automatic
conversion of a previously-issued Note pursuant to Section 1.04(b) thereof, it
shall be convertible into Purchaser Conversion Preferred (as defined below).

         (b)      Automatic Conversion of this Note into Preferred Stock.
Simultaneous with the Corporation raising an aggregate of $50,000,000 (the
"Conversion Amount") in cash through the issuance of convertible preferred stock
prior to the Maturity Date, excluding the Notes and PIK Notes, but including
shares issued upon conversion of up to $20,000,000 aggregate principal amount of
the Corporation's 10% Convertible Senior Secured Notes due February 20, 2006
issued to affiliates of Welsh, Carson, Anderson & Stowe ("Welsh Carson")
(excluding any notes issued to Welsh Carson in kind for interest on such notes),
all of the principal amount of this Note, together with any PIK Notes, Notes
then-payable in kind for accrued and unpaid interest as of such date and Notes
to be purchased on such date by the Purchaser, subject to satisfaction of all
applicable conditions set forth in Section 6.02 of the Purchase Agreement, at a
special Closing on such date with a Purchase Price equal to the difference
between $30,000,000 and the aggregate Purchase Price paid by the Purchaser
pursuant to all Closings completed pursuant to this Agreement as of such date
pursuant to the terms of the Purchase Agreement (collectively, the "Purchaser
Conversion Notes"), shall be converted into a number of shares of convertible
preferred stock ("Purchaser Conversion Preferred") having the same rights,
preferences, privileges and restrictions as shares issued (the "Recent Equity
Financing Shares") pursuant to the Corporation's most recent preferred stock
financing (the "Recent Equity Financing"), except that the initial conversion
price of such Purchaser Conversion Preferred shall be the lesser of (i) the
initial conversion price of the Recent Equity Financing Shares, (ii) the initial
conversion price of shares issued pursuant to any financing which comprises a
portion of the Conversion Amount (excluding shares issued upon conversion of the
notes previously issued to Welsh Carson referred to above), and (iii) the Common
Stock Conversion Price. The Purchaser Conversion Preferred shall be of the same
class, but separate series, as the Recent Equity Financing Shares. The
proportional value of any fractional shares resulting from the issuance of
Purchaser Conversion Preferred shall be paid by the Corporation in cash to the
Purchaser. Notwithstanding the foregoing, the following actions by the
Corporation shall not be aggregated in calculating the Conversion Amount: (i)
the issuance of any shares of Common Stock pursuant to a stock option plan
approved by the Corporation's Board of Directors, (ii) the issuance of stock,
warrants or other securities or rights to persons or entities with which the
Corporation has bona fide business relationships provided such issuances

                                       12
<PAGE>

are for other than primarily equity financing purposes, provided that in any
such case (involving the foregoing clauses (i) or (ii)) such issuance has been
approved by a majority of the members of the Corporation's Board of Directors.
The Corporation will provide the Holder with at least 10 business days notice in
advance of an expected closing of an equity financing which will result in the
raising of the Conversion Amount, noting the time and place of such event. The
Corporation shall present and deliver certificates evidencing the proper number
of Recent Equity Financing Shares to the Holder, in such denominations and in
such name or names as the Holder may designate by notice to the Corporation, to
the Holder at the closing of the Recent Equity Financing in exchange for
delivery of this Note to the Corporation. Upon receipt of this Note in exchange
for such certificate or certificates of stock evidencing the proper number of
Recent Equity Financing Shares, the Corporation shall cancel and destroy this
Note or Notes, and this Note or Notes shall thereafter be null, void and of no
effect.

         (c)      Conversion Prior to Optional Prepayment. In the event the
holder of this Note receives a notice from the Corporation in accordance with
Section 5(b) that the Corporation intends to optionally prepay the Note, the
holder of this Note shall have the option, prior to the consummation of such
prepayment, to convert all or portion of the unpaid principal amount of this
Note together with a corresponding portion of the accrued interest hereon into
shares of Common Stock in accordance with the terms of paragraph (a) above. The
holder shall exercise such right of conversion by giving written notice to the
Corporation in accordance with paragraph (a) above prior to the date of such
prepayment referred to in the Corporation's notice to the holder in accordance
with Section 6.

         (d)      Issuance of Certificates; Time Conversion Effected. Promptly
after (i) the receipt of the written notice referred to in paragraph (a) above
or (ii) the occurrence of the events described in paragraph (b) above, as the
case may be, and surrender of this Note, the Corporation shall issue and
deliver, or cause to be issued and delivered, to the holder, registered in such
name or names as such holder may direct, a certificate or certificates for the
number of whole shares of Common Stock or preferred stock, as the case may be,
issuable upon the conversion of such unpaid principal amount of this Note
together with interest and any Applicable Premium Amount. To the extent
permitted by law, such conversion shall be deemed to have been effected as of
the close of business on the date on which this Note shall have been surrendered
as aforesaid, and at such time the rights of the holder of this Note, to the
extent of the principal amount thereof and any other amounts to be converted,
shall cease, and the person or persons in whose name or names any certificate or
certificates for shares of Common Stock, or preferred stock, as the case may be,
shall be issuable upon such conversion shall be deemed to have become the holder
or holders of record of the shares represented thereby.

         (e)      Fractional Shares; Dividends; Partial Conversion. No
fractional shares shall be issued upon conversion of the principal amount of
this Note or any portion thereof, and no payment or adjustment shall be made
upon any conversion on account of any cash dividends on the Common Stock issued
upon such conversion. In case of the conversion of only a portion of the unpaid
principal amount of this Note, the holder hereof, at its option, may require the
Corporation to execute and deliver at the expense of the Corporation (other than
for transfer

                                       13
<PAGE>

taxes, if any), upon surrender of this Note, a new Note registered in the name
of such person or persons as may be designated by such holder for the principal
amount of this Note then remaining unpaid, dated as of the date to which
interest has been paid on the principal amount of this Note then remaining
unpaid, or may present this Note to the Corporation for notation hereon of the
payment of the portion of the principal amount of this Note so converted. If any
fractional interest in a share of Common Stock or preferred stock, as the case
may be, would, except for the provisions of the first sentence of this paragraph
(e), be deliverable upon any such conversion, the Corporation, in lieu of
delivering the fractional share thereof, shall pay to the holder surrendering
this Note for conversion an amount in cash equal to such fractional interest
multiplied by the Conversion Price then in effect.

         (f)      Adjustment of Conversion Price upon Issuance of Common Shares.
If and whenever the Corporation shall issue or sell, or is in accordance with
subparagraphs (i) through (vii) deemed to have issued or sold, any shares of its
Common Stock for a consideration per share less than the Conversion Price in
effect immediately prior to the time of such issue or sale, then, forthwith upon
such issue or sale, the Conversion Price shall be reduced to the price
(calculated to the nearest cent) determined by dividing (x) an amount equal to
the sum of (1) the number of shares of Common Stock outstanding immediately
prior to such issue or sale (including as outstanding all shares of Common Stock
issuable upon conversion of outstanding Notes) multiplied by the then existing
Conversion Price, and (2) the consideration, if any, received by the Corporation
upon such issue or sale, by (y) the total number of shares of Common Stock
outstanding immediately after such issue or sale (including as outstanding all
shares of Common Stock issuable upon conversion of outstanding Notes).

         No adjustment of the Conversion Price, however, shall be made in an
amount less than $.01 per share, and any such lesser adjustment shall be carried
forward and shall be made at the time and together with the next subsequent
adjustment which together with any adjustments so carried forward shall amount
to $.01 per share or more.

         For purposes of this subparagraph (f), the following subparagraphs (i)
to (vii) shall also be applicable:

          (i) Issuance of Rights or Options. In case at any time the Corporation
     shall in any manner grant (whether directly or by assumption in a merger or
     otherwise) any rights to subscribe for or to purchase, or any options for
     the purchase of, Common Stock or any stock or securities convertible into
     or exchangeable for Common Stock (such rights or options being herein
     called "Options" and such convertible or exchangeable stock or securities
     being herein called "Convertible Securities") whether or not such Options,
     or the right to convert or exchange any such Convertible Securities are
     immediately exercisable, and the price per share for which Common Stock is
     issuable upon the exercise of such Options or upon conversion or exchange
     of such Convertible Securities (determined by dividing (x) the total
     amount, if any, received or receivable by the Corporation as consideration
     for the granting of such Options, plus the minimum aggregate amount of
     additional consideration payable to the Corporation upon the

                                       14
<PAGE>

     exercise of all such Options, plus, in the case of such Options which
     relate to Convertible Securities, the minimum aggregate amount of
     additional consideration, if any, payable upon the issue or sale of such
     Convertible Securities and upon the conversion or exchange thereof, by (y)
     the total maximum number of shares of Common Stock issuable upon the
     exercise of such Options or upon the conversion or exchange of all such
     Convertible Securities issuable upon the exercise of such Options) shall be
     less than the Conversion Price in effect immediately prior to the time of
     the granting of such Options, then the total maximum number of shares of
     Common Stock issuable upon the exercise of such Options or upon conversion
     or exchange of the total maximum amount of such Convertible Securities
     issuable upon the exercise of such Options shall be deemed to have been
     issued for such price per share as of the date of granting of such Options
     and thereafter shall be deemed to be outstanding. Except as otherwise
     provided in subparagraph (iii), no adjustment of the Conversion Price shall
     be made upon the actual issue of such Common Stock or of such Convertible
     Securities upon exercise of such Options or upon the actual issue of such
     Common Stock upon conversion or exchange of such Convertible Securities. If
     at the end of the period during which such Options or Convertible
     Securities are exercisable not all Options or Convertible Securities shall
     have been exercised or converted, the adjusted Conversion Price shall be
     immediately readjusted to what it would have been based upon the number of
     additional shares of Common Stock actually issued in respect of such
     Options and Convertible Securities.

          (ii) Issuance of Convertible Securities. In case the Corporation shall
     in any manner issue (whether directly or by assumption in a merger or
     otherwise) or sell any Convertible Securities, whether or not the rights to
     exchange or convert thereunder are immediately exercisable, and the price
     per share for which Common Stock is issuable upon such conversion or
     exchange (determined by dividing (x) the total amount received or
     receivable by the Corporation as consideration for the issue or sale of
     such Convertible Securities, plus the minimum aggregate amount of
     additional consideration, if any, payable to the Corporation upon the
     conversion or exchange thereof, by (y) the total maximum number of shares
     of Common Stock issuable upon the conversion or exchange of all such
     Convertible Securities) shall be less than the Conversion Price in effect
     immediately prior to the time of such issue or sale, then the total maximum
     number of shares of Common Stock issuable upon conversion or exchange of
     all such Convertible Securities shall be deemed to have been issued for
     such price per share as of the date of the issue or sale of such
     Convertible Securities and thereafter shall be deemed to be outstanding,
     provided that (1) except as otherwise provided in subparagraph (iii) below,
     no adjustment of the Conversion Price shall be made upon the actual issue
     of such Common Stock upon conversion or exchange of such Convertible
     Securities and (2) if any such issue or sale of such Convertible Securities
     is made upon exercise of any Option to purchase any such Convertible
     Securities for which adjustments of the Conversion Price have been or are
     to be made pursuant to other provisions of this paragraph (f), no further
     adjustment of the Conversion Price shall be made by reason of such issue or
     sale. If at the end of the period during which such Convertible Securities
     are convertible not all Convertible Securities shall have been converted,
     the adjusted Conversion Price shall be

                                       15
<PAGE>

     immediately readjusted to what it would have been based upon the number of
     additional shares of Common Stock actually issued in respect of such
     Convertible Securities.

          (iii) Change in Option Price or Conversion Rate. Upon the happening of
     any of the following events, namely, if the purchase price provided for in
     any Option referred to in subparagraph (i), the additional consideration,
     if any, payable upon the conversion or exchange of any Convertible
     Securities referred to in subparagraph (i) or (ii), or the rate at which
     any Convertible Securities referred to in subparagraph (i) or (ii) are
     convertible into or exchangeable for Common Stock shall change at any time
     (other than under or by reason of provisions designed to protect against
     dilution), the Conversion Price in effect at the time of such event shall
     forthwith be readjusted to the Conversion Price which would have been in
     effect at such time had such Options or Convertible Securities still
     outstanding provided for such changed purchase price, additional
     consideration or conversion rate, as the case may be, at the time initially
     granted, issued or sold; and on the expiration of any such Option or
     termination of any such right to convert or exchange such Convertible
     Securities, the Conversion Price then in effect hereunder shall forthwith
     be increased to the Conversion Price which would have been in effect at the
     time of such expiration or termination had such Option or Convertible
     Securities, to the extent outstanding immediately prior to such expiration
     or termination, never been issued, and the Common Stock issuable thereunder
     shall no longer be deemed to be outstanding. If the purchase price provided
     for in any such Option referred to in subparagraph (i) or the rate at which
     any Convertible Securities referred to in subparagraph (i) or (ii) are
     convertible into or exchangeable for Common Stock shall be reduced at any
     time under or by reason of provisions with respect thereto designed to
     protect against dilution, then, in case of the delivery of Common Stock
     upon the exercise of any such Option or upon conversion or exchange of any
     such Convertible Securities, the Conversion Price then in effect hereunder
     shall forthwith be adjusted to such respective amount as would have been
     obtained had such Option or Convertible Securities never been issued as to
     such Common Stock and had adjustments been made upon the issuance of the
     shares of Common Stock delivered as aforesaid, but only if as a result of
     such adjustment the Conversion Price then in effect hereunder is thereby
     reduced.

          (iv) Stock Dividends. Without duplication of the adjustment
     contemplated by clause (g) below, in case the Corporation shall declare a
     dividend or make any other distribution upon any stock of the Corporation
     payable in Common Stock, Options or Convertible Securities, any Common
     Stock, Options or Convertible Securities, as the case may be, issuable in
     payment of such dividend or distribution shall be deemed to have been
     issued or sold without consideration.

          (v) Consideration for Stock. In case any shares of Common Stock,
     Options or Convertible Securities shall be issued or sold for cash, the
     consideration received therefore shall be deemed to be the amount received
     by the Corporation therefore, without deduction therefrom of any expenses
     incurred or any underwriting commissions or concessions paid or allowed by
     the Corporation in connection therewith. In case any

                                       16
<PAGE>

     shares of Common Stock, Options or Convertible Securities shall be issued
     or sold for a consideration other than cash, the amount of the
     consideration other than cash received by the Corporation shall be deemed
     to be the fair value of such consideration as determined in good faith by
     the Board of Directors of the Corporation, without deduction of any
     expenses incurred or any underwriting commissions or concessions paid or
     allowed by the Corporation in connection therewith. In case any Options
     shall be issued in connection with the issue and sale of other securities
     of the Corporation, together compromising one integral transaction in which
     no specific consideration is allocated to such Options by the parties
     thereto, such Options shall be deemed to have been issued without
     consideration.

          (vi) Record Date. In case the Corporation shall take a record of the
     holders of its Common Stock for the purpose of entitling them (x) to
     receive a dividend or other distribution payable in Common Stock, Options
     or Convertible Securities, or (y) to subscribe for or purchase Common
     Stock, Options or Convertible Securities, then such record date shall be
     deemed to be the date of the issue or sale of the shares of Common Stock
     deemed to have been issued or sold upon the declaration of such dividend or
     the making of such other distribution or the date of the granting of such
     right of subscription or purchase, as the case may be.

          (vii) Treasury Shares. The number of shares of Common Stock
     outstanding at any given time shall not include shares owned or held by or
     for the account of the Corporation, and the disposition of any such shares
     shall be considered an issue or sale of Common Stock for the purposes of
     this paragraph (f).

Notwithstanding anything to the contrary contained in this paragraph (f),
paragraph (f) is subject to the prior approval of the Corporation's
shareholders, which the Corporation shall seek to obtain as promptly as
practicable, if such shareholder approval would be required under the
Marketplace Rules of the Nasdaq National Market (the "NASDAQ") if paragraph (f)
were to otherwise operate in accordance with its terms, unless the NASDAQ has
waived such requirement.

         (g)      Subdivision or Combination of Stock. In case the Corporation
shall at any time declare a dividend or make any other distribution upon any
stock of the Corporation payable in Common Stock or subdivide its outstanding
shares of Common Stock into a greater number of shares, the Conversion Price in
effect immediately prior to such subdivision shall be proportionately reduced,
and conversely, in case the outstanding shares of Common Stock of the
Corporation shall be combined into a smaller number of shares, the Conversion
Price in effect immediately prior to such combination shall be proportionately
increased.

         (h)      Certain Issues of Stock Excepted. Anything herein to the
contrary notwithstanding, the Corporation shall not make any adjustment of the
Conversion Price in the case of (i) the issuance of shares of Common Stock upon
conversion of Notes; (ii) the issuance of Options or shares of Common Stock to
employees, directors or consultants of the Corporation

                                       17
<PAGE>

or its subsidiaries, either directly or pursuant to Options, pursuant to plans
or arrangements approved by the Board of Directors (or Compensation Committee
thereof) of the Corporation; (iii) the issuance of shares of Common Stock in
respect of any Convertible Securities or Options issued by the Corporation prior
to the date of this Note; or (iv) the issuance of shares of Common Stock in
connection with any acquisition, merger, consolidation, or other business
combination transaction.

         (i)      Reorganization or Reclassification. If any capital
reorganization or reclassification of the capital stock of the Corporation shall
be effected in such a way that holders of Common Stock shall be entitled to
receive stock, securities or assets with respect to or in exchange for Common
Stock, then, as a condition of such reorganization or reclassification, lawful
and adequate provisions shall be made whereby each holder of a Note shall
thereafter have the right to receive, upon the basis and upon the terms and
conditions specified herein and in lieu of the shares of Common Stock of the
Corporation immediately theretofore receivable upon the conversion of such
shares of stock, securities or assets as may be issued or payable with respect
to or in exchange for a number of outstanding shares of such Common Stock equal
to the number of shares of such stock immediately theretofore so receivable had
such reorganization or reclassification not taken place, and in any such case
appropriate provision shall be made with respect to the rights and interests of
such holder to the end that the provisions hereof (including without limitation
provisions for adjustments of the Conversion Price) shall thereafter be
applicable, as nearly as may be, in relation to any shares of stock, securities
or assets thereafter deliverable upon the exercise of such conversion rights
(including an immediate adjustment, by reason of such reorganization or
reclassification, of the Conversion Price to the value for the Common Stock
reflected by the terms of such reorganization or reclassification if the value
so reflected is less than the Conversion Price in effect immediately prior to
such reorganization or reclassification). In the event of a merger or
consolidation of the Corporation as a result of which a greater or lesser number
of shares of Common Stock of the surviving corporation are issuable to holders
of Common Stock of the Corporation outstanding immediately prior to such merger
or consolidation, the Conversion Price in effect immediately prior to such
merger or consolidation shall be adjusted in the same manner as though there
were a subdivision or combination of the outstanding shares of Common Stock of
the Corporation. The Corporation will not effect any such consolidation, merger,
or any sale of all or substantially all of its assets or properties, unless
prior to the consummation thereof the successor corporation or other entity (if
other than the Corporation) resulting from such consolidation or merger or the
corporation purchasing such assets shall assume, by written instrument executed
and mailed or delivered to each holder of Notes at the last address of such
holder appearing on the books of the Corporation, the obligation to deliver to
such holder such shares of stock, securities or assets as, in accordance with
the foregoing provisions, such holder may be entitled to receive.

         (j)      Notice of Adjustment. Upon any adjustment of the Conversion
Price, then and in each such case the Corporation shall give written notice
thereof, by first class mail, postage prepaid, addressed to each holder of Notes
at the address of such holder as set forth in the register maintained by the
Corporation for the registration of transfer and exchange of Notes,

                                       18
<PAGE>

which notice shall state the Conversion Price resulting from such adjustment,
setting forth in reasonable detail the method of calculation and the facts upon
which such calculation is based.

         (k)      Other Notices. In case at any time:

         (i) the Corporation shall declare any dividend upon its Common Stock
     payable in cash or stock or make any other distribution to the holders of
     its Common Stock;

         (ii) the Corporation shall offer for subscription pro rata to the
     holders of its Common Stock any additional shares of stock of any class or
     other rights;

         (iii) there shall be any capital reorganization or reclassification of
     the capital stock of the Corporation, or a consolidation or merger of the
     Corporation with, or a sale of all or substantially all its assets to,
     another corporation or other entity; or

         (iv) there shall be a voluntary or involuntary dissolution,
     liquidation or winding-up of the Corporation;

then, in any one or more of said cases, the Corporation shall give, by first
class mail, postage prepaid, addressed to each holder of Notes at the address of
such holder as set forth in the register maintained by the Corporation for the
registration of transfer and exchange of Notes, (A) at least 20 days' prior
written notice of the date on which the books of the Corporation shall close or
a record shall be taken for such dividend, distribution or subscription rights
or for determining rights to vote in respect of any such reorganization,
reclassification, consolidation, merger, sale, dissolution, liquidation or
winding up, and (B) in the case of any such reorganization, reclassification,
consolidation, merger, sale, dissolution, liquidation or winding up, at least 20
days' prior written notice of the date when the same shall take place. Such
notice in accordance with the foregoing clause (A) shall also specify, in the
case of any such dividend, distribution or subscription rights, the date on
which the holders of Common Stock shall be entitled thereto, and such notice in
accordance with the foregoing clause (B) shall also specify the date on which
the holders of Common Stock shall be entitled to exchange their Common Stock for
securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, sale, dissolution, liquidation or
winding up, as the case may be.

         (l)      Stock to Be Reserved. The Corporation will at all times
reserve and keep available out of its authorized Common Stock or its treasury
shares, solely for the purpose of issue upon the conversion of the Notes as
herein provided, such number of shares of Common Stock as shall then be issuable
upon the conversion of the unpaid principal amount of all outstanding Notes. The
Corporation covenants that all shares of Common Stock which shall be so issued
shall be duly and validly issued and fully paid and nonassessable and free from
all taxes, liens and charges with respect to the issue thereof, and, without
limiting the generality of the foregoing, the Corporation covenants that it will
from time to time take all such action within its control as may be requisite to
assure that the par value per share of the Common Stock is at all times equal to
or less than the effective Conversion Price. The Corporation will take all such

                                       19
<PAGE>

action as may be necessary to assure that all such shares of Common Stock may be
so issued without violation of any applicable law or regulation, or of any
requirements of any national securities exchange upon which the Common Stock of
the Corporation may be listed. The Corporation will not take any action which
results in any adjustment of the Conversion Price if the total number of shares
of Common Stock issued and issuable after such action upon conversion of the
Notes would exceed the total number of shares of Common Stock then authorized by
the Corporation's Certificate of Incorporation.

         (m)      Issue Tax. The issuance of certificates for shares of Common
Stock upon conversion of the Notes shall be made without charge to the holders
thereof for any issuance tax in respect thereof, provided that the Corporation
shall not be required to pay any tax which may be payable in respect of any
transfer involved in the issuance and delivery of any certificate in a name
other than that of the holder of the Note the principal amount of which is being
converted.

         (n)      Closing of Books. The Corporation will at no time close its
transfer books against the transfer of any Note or of any shares of Common Stock
issued or issuable upon the conversion of any Note in any manner which
interferes with the timely conversion of such Note.

         (o)      Definition of Common Stock. As used in this Section 15, the
term "Common Stock" shall mean and include the Corporation's authorized Common
Stock, $.01 par value, as constituted on the date hereof, and shall also include
any capital stock of any class of the Corporation thereafter authorized which
shall not be limited to a fixed sum or percentage of par value in respect of the
rights of the holders thereof to participate in dividends or in the distribution
of assets upon the voluntary or involuntary liquidation, dissolution or winding
up of the Corporation.

         16.      COVENANTS BIND SUCCESSORS AND ASSIGNS. All the covenants,
stipulations, promises and agreements in this Note contained by or on behalf of
the Corporation shall bind its successors and assigns, whether so expressed or
not.

         17.      GOVERNING LAW. This Note shall be governed and construed in
accordance with the laws of the State of New York, without giving effect to the
conflict of laws principles thereof.

         18.      HEADINGS. The headings of the Sections and subsections of this
Note are inserted for convenience only and do not constitute a part of this
Note.

         19.      NOTICES. Any notice or other communications required or
permitted hereunder shall be deemed to be sufficient if contained in a written
instrument delivered in person or duly sent by first class certified mail,
postage prepaid, by nationally recognized overnight courier, or by facsimile
addressed to such party at the address or facsimile number set forth below or
such other address or facsimile number as may hereafter be designated in writing
by the addressee to the addressor listing all parties:

                                       20
<PAGE>

                  if to the Corporation, to

                           SAVVIS Communications Corporation
                           12851 Worldgate Drive
                           Herndon, Virginia 20170
                           Fax:  (703) 234-8315
                           Attention:  Ms. Nancy Lysinger

                  with a copy to

                           SAVVIS Communication Corporation
                           717 Office Parkway
                           St. Louis, MO 63141
                           Fax: (314) 468-7550
                           Attention: Steven M. Gallant, Esq.

                  with a copy to

                           Hogan & Hartson L.L.P.
                           885 Third Avenue, 26th Floor
                           New York, New York 10022
                           Fax: (212) 409-9801
                           Attention: Christine M. Pallares, Esq.

                  if to the holder of this Note, to the address of such holder
         listed on Schedule I of the Purchase Agreement or such other address as
         the holder shall have provided to the Corporation in writing;

                  with a copy to

                           Weil, Gotshal & Manges LLP
                           767 Fifth Avenue
                           New York, New York  10153
                           Fax:  (212) 310-8007
                           Attention:  David E. Zeltner, Esq.

or, in any case, at such other address or addresses as shall have been furnished
in writing by such party to the other parties hereto. All such notices,
requests, consents and other communications shall be deemed to have been
received (a) in the case of personal delivery, on the date of such delivery, (b)
in the case of mailing, on the fifth business day following the date of such
mailing, (c) in the case of delivery by overnight courier, on the business day
following the date of delivery to such courier, and (d) in the case of
facsimile, when received.

                                       21
<PAGE>

                  IN WITNESS WHEREOF, SAVVIS Communications Corporation has
caused this Note to be signed in its corporate name by one of its officers
thereunto duly authorized and to be dated as of the day and year first above
written.

                                      SAVVIS COMMUNICATIONS CORPORATION

                                      By
                                        ----------------------------------------
                                         Name:  Steven M. Gallant
                                         Title: Vice President, General Counsel

                                       22

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