Document:

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                                                                   EXHIBIT 10.32

                            ASSET PURCHASE AGREEMENT,

                                     BETWEEN

                       AMERICAN TEMPORARY SANITATION, INC.

                                       AND

                         P.W. STEPHENS RESIDENTIAL, INC.

                             DATED DECEMBER 4, 1998

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                            ASSET PURCHASE AGREEMENT

         This Agreement ("Agreement") is made as of this 4th day of December,
1998, between AMERICAN TEMPORARY SANITATION, INC., a New York corporation, whose
address is 17 Reardon Road, Queensbury, NY 12804 ("Purchaser"), and P.W.
STEPHENS RESIDENTIAL, INC., a California corporation, whose address is 15201
Pipeline Lane, Suite B, Huntington Beach, CA 92649, ("Seller"). Purchaser and
Seller are collectively sometimes referred to in this Agreement as "Parties" or,
individually, as a "Party".

                                  INTRODUCTION

         WHEREAS, Purchaser wishes to purchase from Seller, and Seller wishes to
sell to Purchaser, substantially all of the assets of Seller used in the
[industrial services business] conducted by the Seller as of the date hereof
(the "Business"), which sale and purchase shall hereinafter be referred to as
the "Acquisition";

         NOW THEREFORE, in consideration of the following representations,
warranties, covenants and agreements, the parties agree as follows:

                                   DEFINITIONS

         "Accounts Receivable" means the accounts receivable of the Business as
of the Closing Date, including work in progress that has been accrued but not
yet invoiced as of the Closing Date, as shown on the Accounts Receivables
Schedule.

         "Accounts Receivable Schedule" means the schedule of the Seller's
accounts receivable as of the Closing Date to be delivered by Seller to the
Purchaser pursuant to Section 2.4.

         "Acquisition" has the meaning set forth in the preface above.

         "Acquisition Proposal" means any proposal for a merger, consolidation
or other business combination involving the Seller for the acquisition or
purchase of any equity interest in or material portion of the assets of the
Seller, other than the transactions with Purchaser contemplated by this
Agreement.

         "Adjustment Amount" has the meaning set forth in Section 2.3.1 below.

         "Adverse Consequences" has the meaning set forth in Section 4.1.1
below.

         "Assets" has the meaning set forth in Section 2.1 below.

         "Assumed Liabilities" has the meaning set forth in Section 3.1.6 below.

         "Benefit Plan" has the meaning set forth in Section 5.1.14 below.

         "Bill of Sale" has the meaning set forth in Section 2.8.1 below.

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         "Business" has the meaning set forth in the preface above.

         "Business Data" has the meaning set forth in Section 2.1.7 below.

         "Cash Consideration" has the meaning set forth in Section 2.3.

         "Closing Date" has the meaning set forth in Section 1.1 below.

         "Completed Project" means a project in which, as of the Closing Date,
the Company has within the one-year period immediately preceding the Closing,
completed all services required to be performed thereunder and that has been
closed out and fully invoiced.

         "Contract Value" means the amount (including expenses) that each party
with whom the Seller is engaged in a Project is required to pay to the Seller
upon completion of such Project, as set forth on the Job Summary Schedule.

         "Contracts" as the meaning set forth in Section 2.1.3 below.

         "Encumbrances" means all liens, security interests, pledges, mortgages,
deeds of trust, claims, rights of first refusal, options, charges, restrictions
or conditions to transfer or assignment, liabilities, obligations, privileges,
equities, easements, rights of way, limitations, reservations, restrictions, and
other encumbrances of any kind or nature.

         "Environmental Laws" means: (i) the Comprehensive Environmental
Response Compensation and Liability Act, 42 U.S.C. sec 9601 et seq., the
Resource Conservation and Recovery Act, 42. U.S.C. sec 6901 et seq., the Clean
Water Act, 33 U.S.C. sec 1251 et seq., the Clean Air Act, 42 U.S.C. sec 7401 et
seq., the Toxic Substances Control Act, 15 U.S.C. sec 2601 et seq.; the Federal
Insecticide, Fungicide and Rodenticide Act, 7 U.S.C. sec 136; the Occupational
Safety and Health Act, 29 U.S.C. sec 651 et seq. ("OSHA"); the Pollution
Prevention Act, 42 U.S.C. sec 13101 et seq.; the Oil Pollution Act, 33 U.S.C.
sec 2701 et seq.; the Safe Drinking Water Act, 42 U.S.C. sec 300 et seq.; and
(ii) national, state, regional and local counterparts to any of the foregoing
statutes, both within and outside the U.S.; (iii) national, state, regional and
local enactments which regulate or address Environmental Matters, both within
and outside of the U.S.; and, (iv) regulations, codes, plans, orders, decrees,
judgments, notices guidelines, authoritative interpretations or demands issued,
entered, promulgated or approved under any of the foregoing.

         "Environmental Matters" means all matters relating in any way to (i)
soil, air and water and groundwater pollution or contamination, including
without limitation, any on-site or off-site pollution or contamination; (ii)
damages to the natural environment or natural resources; (iii) releases or
discharges of waste, Hazardous Materials, or pollutants or contaminants; (iv)
occupational health and safety; or (v) the generation, transport, storage,
recycling or disposal of Hazardous Materials or wastes (including, without
limitation, garbage, refuse, slag, sludge and other discarded materials, whether
solid, liquid, semisolid or gaseous and whether on-site or off-site).

         "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended.

         "Hazardous Materials" means those elements, compounds and substances
identified in any of the Environmental Laws as "hazardous materials", "hazardous
substances", or "hazardous wastes", as well as any other elements, compounds or
substances which are listed or identified as "pollutants",

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"contaminants", "hazardous" or "toxic" (or by other terms of similar meaning)
under any of the Environmental Laws. The term "Hazardous Materials"
specifically includes, without limitation, radioactive materials, petroleum
products and asbestos.

     "Indemnifying Party" has the meaning set forth in Section 4.2 below.

     "Intellectual Property" means all of the Seller's rights to the names
under which it is incorporated or under which it currently conducts its
business, and all of the Seller's rights to any patents, patent applications,
trademarks and service marks (including registrations and applications
therefor), trade names, logos, copyrights and written know-how, trade secrets,
licenses and sublicenses and all similar proprietary data and the goodwill
associated therewith.

     "Inventory and Supplies" has the meaning set forth in Section 2.1.5 below.

     "Job Summary Schedule" means the schedule of Projects and their related
Contract Values, Recognized Billings and Recognized Costs to be delivered by
the Seller to the Purchaser three days before the Closing Date in accordance
with Section 2.5.

     "Leased Properties" has the meaning set forth in Section 2.1.3 below.

     "Licenses and Permits" has the meaning set forth in Section 2.1.6 below.

     "Material" means any amount, effect, changed circumstance or condition
significant or substantive to the business, operations, assets or financial
condition or results of operations of the Party or Parties at issue, unless
such amount, effect, changed circumstance or condition is due to general changes
in the economy or the general industry in which the Party at issue operates.

     "Ongoing Project" means a project that is not a Completed Project and for
which the Seller has incurred Recognized Billings and Recognized Costs, but has
not received the entire Contract Value therefor.

     "Personal Property" has the meaning set forth in Section 2.1.2 below.

     "Project" means any project that has been assigned a job number in the
Company's accounting system and in which the Seller is performing services
pursuant to the Business as of the date of the Job Summary Schedule, all of
which are set forth on the Job Summary Schedule.

     "Properties" has the meaning set forth in Section 2.1.3 below.

     "Purchase Price" means an amount equal to the Cash Consideration and the
initial principal amounts of the Secured Note.

     "Purchaser" has the meaning set forth in the preface above.

     "Real Property" has the meaning set forth in Section 2.1.1 below.

     "Recognized Billings" means the amount of revenue, calculated in
accordance with the Seller's accounting procedures recognized on the Job
Summary Schedule, with respect to each Project.

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         "Recognized Costs" means the amount of Seller's costs, calculated in
accordance with Seller's accounting procedures, recognized on the Job Summary
Schedule with respect to each Project.

         "Retained Assets" has the meaning set forth in Section 2.2 below.

         "Secured Note" has the meaning set forth in Section 2.3 below.

         "Seller" has the meaning set forth in the preface above.

         "Title Policy" has the meaning set forth in Section 3.2 below.

         "Transaction Documents" means this Agreement, the Secured Note, the
Security Agreement-Pledge and the Employment Agreements.

1.       CLOSING

         1. Closing. The closing of the transactions contemplated hereby (the
"Closing") shall take place on a date mutually acceptable to Seller and
Purchaser no later than 30 days after all of the conditions precedent described
in Sections 10 and 11 hereof have been satisfied or waived (the "Closing Date"),
but in no event shall the Closing be later than December 31, 1998. The Closing
shall take place at 10:00 a.m. on the Closing Date at the offices of__________.

2.       PURCHASE, SALE AND RELATED MATTERS

         2.1. Assets. At Closing, Seller will sell, transfer, convey, assign and
deliver to Purchaser, and Purchaser will purchase and acquire from Seller, all
of Seller's assets (the "Assets"), including, but not limited to, the following
assets:

                  2.1.1. Real Property. The real property set forth in Schedule
         2.1.1 together with all buildings, improvements, easements,
         restrictions and fixtures relating thereto (collectively, the "Real
         Property");

                  2.1.2. Machinery and Equipment. All machinery, equipment,
         vehicles, furniture, office equipment, computers and computer
         accessories, spare parts and all other items of tangible personal
         property owned or used (but excluding leased personal property) by
         Seller in the Business, including without limitation those items set
         forth in Schedule 2.1.2 (collectively, the "Personal Property");

                  2.1.3. Contracts and Leased Properties. To the extent
         transferable or assignable, without further consideration, the
         contracts, purchase orders, leases, lease improvements, noncompete
         agreements, vendor approvals, confidentiality agreements, insurance
         policies, performance bonds, claims, benefits under all liens, warrants
         and guarantees, bids and proposals (whether or not awarded), work in
         progress and other agreements associated with the Business, including
         without limitation those set forth in Schedule 2.1.3 (collectively, the
         "Contracts"). Schedule 2.1.3 also identifies all leases of real
         property used or occupied by Seller (the "Leased Properties"; the Real
         Property and Leased Properties are collectively referred to in this
         Agreement as the "Properties");

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                  2.1.4. Intellectual Property. The Intellectual Property and
         associated licenses and sublicenses used by the Seller and Seller's
         rights to the Intellectual Property, all material items of which are
         listed on Schedule 2.1.4, remedies against infringements of the
         Intellectual Property, and rights to protection of the Intellectual
         Property under the laws of all jurisdictions;

                  2.1.5. Inventory and Supplies. To the extent owned by Seller,
         all work-in-process, inventory, materials, finished products, supplies
         (including marketing materials and brochures), and packaging supplies,
         including, without limitation, those set forth in Schedule 2.1.5
         (collectively, the "Inventory and Supplies");

                  2.1.6. Licenses and Permits. To the extent transferable, all
         governmental licenses, permits, authorizations and approvals,
         franchises, consents, filings and applications for any of the
         foregoing, used by Seller in the Business, including without limitation
         those set forth in Schedule 2.1.6 (collectively, the "Licenses and
         Permits");

                  2.1.7. Business Data. All information, documents and records
         (such as customer files, pricing data and supplier data) used by Seller
         in connection with the Business or used in connection with any of the
         Assets (collectively, the "Business Data");

                  2.1.8. Accounts Receivable. The accounts receivable of the
         Business as of the Closing Date as shown on the Accounts Receivable
         Schedule;

                  2.1.9. Lock Boxes. To the extent transferable, any and all
         lock-boxes of Seller, all of which are listed on Schedule 2.1.9;

                  2.1.10. Tax and Accounting Records. All tax and accounting
         records and files relating to the Business;

                  2.1.11. Personnel Files. All personnel files and records
         related to any employee of Seller who gives permission to Seller to
         transfer such records to Purchaser;

                  2.1.12. Prepaid Expenses. The expenses of the Seller and the
         Business, to the extent pre-paid as of the Closing, including, but not
         limited to, pre-paid taxes, pre-paid rent, pre-paid service contracts,
         and pre-paid miscellaneous expenses;

                  2.1.13. Cash. All cash;

                  2.1.14. Other Assets. All other assets shown on the worksheet
         attached as Schedule 2.1.14., and all of the additional privileges,
         rights, interests, properties and assets of the Seller of every kind
         and description and wherever located that are used in the Business or
         intended for use in the Business in connection with, or that are
         necessary for the continued conduct of, the Business.

         2.2. Retained Assets. Seller shall retain all right, title and interest
in and to the following assets (collectively, the "Retained Assets"), all of
which are itemized on Schedule 2.2.

                  2.2.1. Tax Refunds and Other Credits. All tax refunds,
         insurance proceeds and credits

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attributable to the Business before the Closing Date or resulting from the
consummation of the transactions contemplated herein;

         2.2.2  Personnel Files.  All personnel files and records related to any
     employee of Seller who does not give permission to provide such records to
     Purchaser;

         2.2.3  Employee Benefit Plans.  All right, title, or interest in any
     employee benefit plan of Seller;

         2.2.4  Corporate Charter and Related Documents.  The corporate charter,
     qualifications to conduct business as a foreign corporation, arrangements
     with registered agents relating to foreign qualifications, taxpayer and
     other identification numbers, seals, minute books, stock transfer books,
     blank stock certificates, and other documents relating to the organization,
     maintenance, and existence of Seller as a corporation;

         2.2.5  Lawsuits.  All records relating to pending lawsuits to which
     Seller is a party (provided that copies of non-privileged material and that
     relate to or involve the Business shall, upon request, be furnished to
     Purchaser);

         2.2.6  Property Unrelated to the Business.  All owned or leased real
     and personal property that is not associated with the Business, together
     with all of the structures, fixtures and improvements located thereon;

         2.2.7  Purchase Price.  The consideration to be delivered to Seller
     pursuant to this Agreement.

         2.2.8  Seller's Contractual Rights.  Any of the rights of Seller under
     this Agreement (or under any side agreement between Seller on the one hand
     and the Purchaser on the other hand entered into on or after the date of
     this Agreement); and,

         2.2.9  Assets Unrelated to the Business.  Every other asset that is not
     an Asset relating to the Business.

     2.3  Purchase Price.  As consideration for the Assets, the Purchaser shall
pay to the Seller $2,400,000.  The Purchase Price shall be adjusted after the
Closing in accordance with Section 2.3.1 by adding the Adjustment Amount to the
Purchase Price.

         2.3.1  Adjustment Amount.  The Adjustment Amount (which may be a
     positive or negative number) will be equal to (a) Accounts Receivable less
     i) allowance for bad debt and ii) Accounts Payable, minus (b) $1,250,000.

     2.4  Uncollectible Accounts Receivable.  At the Closing, Seller shall
deliver to the Purchaser the Accounts Receivable Schedule, which shall show the
Accounts Receivable of the Business as of the Closing Date, along with a
breakdown of all invoiced Accounts Receivable and all accrued Accounts
Receivable that have not been invoiced.

         2.4.1  With respect to any Accounts Receivable on the Accounts
     Receivable Schedule that relate to Completed Projects, if any such Accounts
     Receivable prove to be uncollectible

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         within 120 days of the Closing Date, the Purchaser shall assign such
         Accounts Receivable to the Seller or its designee and the principal
         amount of the Purchase Price shall be reduced by the amount, if any, by
         which the amount of such Accounts Receivable exceeds the accrual for
         bad debts as of the Closing Date.

                  2.4.2. With respect to any other Accounts Receivable on the
         Accounts Receivable Schedule: (i) if any such Accounts Receivable
         prove to be uncollectible within 120 days of the later of the invoice
         date or the Closing Date; and, (ii) if the collectibility of such
         Accounts Receivable shall not have been adversely affected by the act
         or omission of the Purchaser on or after the Closing, the Purchaser
         shall assign such Accounts Receivable to the Seller or its designee and
         the principal amount of the Purchase Price will be reduced by the
         amount, if any, by which the amount of such Accounts Receivable exceeds
         the accrual for bad debts as of the Closing Date.

                  2.4.3. The total of all reductions in the principal amount of
         the Purchase Price pursuant to sections 2.4.1 and 2.4.2 above, the
         Seller shall pay to the Purchaser the amount by certified or bank check
         within 30 days of receiving Purchaser's invoice for such amount
         accompanied by an assignment of the Accounts Receivable in question.

         2.5. Recognized Costs. No less than three days before the Closing, the
Seller shall deliver to the Purchaser a schedule (the "Job Summary Schedule")
setting forth, with respect to each Project, the Contract Value, the Recognized
Costs, and the identification of the Project as a Completed Project or an
Ongoing Project.

                  2.5.1. With respect to each Completed Project, if there are
         costs attributable to such Completed Project in excess of the
         Recognized Costs set forth on the Job Summary Schedule, the Purchaser
         shall provide to Seller documentation substantiating such costs and
         the principal amount of the Purchase Price shall be reduced by the
         amount of such costs; provided, however, that there shall be no
         adjustment of the principal amount of the Purchase Price until the
         aggregate amount of such costs for all Completed Projects exceeds
         $10,000. If and when the aggregate amount of such costs for all
         Completed Projects exceeds $10,000, the principal amount of the
         Purchase Price shall be reduced by the amount of the total of all such
         costs.

                  2.5.2. With respect to each Ongoing Project, if there are
         costs that were incurred before the date of the Job Summary Schedule
         attributable to such Ongoing Project in excess of the Recognized Costs
         set forth on the Job Summary Schedule, the Purchaser shall provide to
         Seller documentation substantiating such costs and the principal
         amount of the Purchase Price shall be reduced by the amount of such
         costs; provided, however, that there shall be no adjustment of the
         principal amount of the Purchase Price until the aggregate amount of
         such costs for all Ongoing Projects exceeds $10,000. If and when the
         aggregate amount of such costs for all Ongoing Projects exceeds
         $10,000, the principal amount of the Purchase Price shall be reduced by
         the amount of the total of all such costs.

                  2.5.3. The total of all reductions in the principal amount of
         the Purchase Price pursuant to Sections 2.5.2 and 2.5.3 above, the
         Seller shall pay to the Purchaser the excess amount by certified or
         bank check within 30 days of receiving Purchaser's invoice for such
         amount accompanied by the substantiating documentation.

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     2.6.  Allocation of the Purchase Price. Seller and Purchaser shall use
their best efforts to agree, within 90 days of the Closing Date, to an
allocation of the Purchase Price (together with liabilities assumed hereunder
and other relevant items) among the Assets. Seller and Purchaser represent,
warrant and agree that such allocation will be determined through arm's length
negotiations. If the Parties are unable to agree on the allocation, the
allocation shall be determined by an independent accounting firm acceptable to
Purchaser and Seller, such agreement not to unreasonably withheld, conditioned
or delayed, whose resolution shall be binding and enforceable against the
Parties hereto. Such allocation will comply with the requirements of Section
1060 of the Code. Purchaser will prepare IRS Form 8594 for Seller's review and
comment. Seller and Purchaser each agrees that, to the extent permitted by
applicable law, it will adopt and use the amounts allocated to each asset or
class of assets for purposes of all Federal, state and other income Tax returns
or reports of any nature filed by it, and that it will not voluntarily take any
position inconsistent therewith upon examination of any such Tax returns or
reports, in any claim for refund, in any litigation or otherwise with respect
to such Tax returns or reports. Notwithstanding any other provisions of this
Agreement, the foregoing agreement shall survive the Closing Date without
limitation.

     2.7. Further Assurances. At the Closing, and from time to time after the
Closing:

          2.7.1. Conveyance Documents. At the request of Purchaser, and without
      further consideration, Seller shall promptly execute and deliver to
      Purchaser such certificates and other instruments of sale, conveyance,
      assignment and transfer, and take such other action, as may reasonably be
      requested by Purchaser to sell, convey, assign and transfer to and vest in
      Purchaser or to put Purchaser in possession of the Assets;

          2.7.2. Assumption Documents. At the request of Seller and without
     further consideration, Purchaser shall promptly execute and deliver to
     Seller such certificates and other instruments of assumption, and take such
     other action, as may reasonably be requested by Seller more effectively to
     confirm and carry out the assumption by Purchaser of the obligations of
     Seller assumed by Purchaser hereunder.

          2.7.3. Consents and Related Matters. To the extent that any consents,
     waivers or approvals necessary to convey items of Assets to Purchaser are
     not obtained before the Closing, Seller shall use its reasonable best
     efforts to:

               2.7.3.1. Benefits of Assets. Provide to Purchaser, at the request
          of Purchaser, the benefits of any such Asset;

               2.7.3.2. Cooperation. Cooperate in any reasonable and lawful
          arrangement, approved by Purchaser, designed to provide such benefits
          to Purchaser; and

               2.7.3.3. Exercise of Rights. Enforce and perform, at the request
          and expense of Purchaser, and for the liability and account of
          Purchaser, any rights or obligations of Seller arising from any such
          Asset against or in respect of any third person (including a
          government or governmental unit), including the right to elect to
          terminate any contract, arrangement or agreement in accordance with
          the terms thereof upon the advice of Purchaser;

     2.8. Instruments of Conveyance, Transfer, Assumption, Etc. Seller shall
properly execute

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and deliver to Purchaser at the Closing:

                  2.8.1. Bill of Sale. The Bill of Sale, substantially the form
         of Exhibit B, evidencing the sale of the Assets to the Purchaser,
         assigning to the Purchaser the assignable Contracts, the assignable
         leases for the Leased Properties, and the Licenses and Permits, and
         transferring to Purchaser all of Seller's right, title and interest in
         and to the Intellectual Property included in the Assets.

                  2.8.2. Deeds. Deeds in the form of Exhibit C; and,

                  2.8.3. Other. Such other necessary documents as Purchaser may
         reasonably request.

         2.9. Risk of Loss. The risk of loss or damage to all Assets shall
remain with Seller until consummation of the Closing.

3. CERTAIN LIABILITIES

         3.1. Liabilities Assumed. At the Closing, and on and subject to the
terms and conditions of this Agreement, the Purchaser shall assume and become
responsible for only the following liabilities:

                  3.1.1. Accounts Payable. Seller's accounts payable as of the
         Closing, including purchase orders issued in the ordinary course of
         business, but not yet booked as an account payable as of the Closing
         Date;

                  3.1.2. Unpaid Taxes. All liabilities of Seller for unpaid
         taxes with respect to periods after the Closing;

                  3.1.3. Employees. All liabilities and obligations for all
         periods as of and after the Closing Date with respect to Seller's
         employees who become employed by Purchaser, including all liabilities
         and obligations with respect to such employees for disability or
         workers' compensation claims, that arise out of incidents occurring
         after the Closing Date, it being understood that the Seller will retain
         all liabilities and obligations for all periods before the Closing Date
         with respect to Seller's employees, including all liabilities and
         obligations with respect to such employees for disability or workers'
         compensation claims that arose out of events occurring before the
         Closing Date;

                  3.1.4. Liabilities Relating to the Assets. Other than the
         liabilities and obligations identified on Schedule 3.1.4, all
         liabilities and obligations of Seller under the agreements, contracts,
         leases, licenses, and other arrangements referred to in the definition
         of Assets;

                  3.1.5. Environmental Liabilities. All liabilities relating to
         Environmental Matters arising out of acts or omissions occurring as of
         or after the Closing Date; it being understood that the Seller will
         remain obligated for any liabilities relating to Environmental Matters
         arising out of acts or omissions occurring before the Closing Date.

                  3.1.6. Other. All other liabilities and obligations of Seller
         or the Business arising as of or after the Closing (collectively, and
         together with amounts described in Section 3.2, the "Assumed
         Liabilities").

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         3.2. Transfer Taxes and Expenses. Purchaser assumes liability for and
shall pay all sales, use, privilege and other transfer or similar Taxes imposed
on it by law as a result of the transactions contemplated hereby. Purchaser
shall pay all recording fees and costs, and all transfer taxes or revenue stamps
incidental to the recordation of the deed(s) conveying the Real Property. Seller
shall pay all survey costs and Purchaser shall pay all title commitment (the
"Title Policy") and title insurance premiums in connection with the Real
Property.

4. INDEMNIFICATION AND RELATED COVENANTS.

         4.1. Indemnification.

                  4.1.1. Indemnification by the Seller. Seller shall indemnify
         the Purchaser from and against any and all actions, suits, proceedings,
         hearings, investigations, charges, complaints, claims, demands,
         injunctions, judgments, orders, decrees, rulings, damages, dues,
         penalties, fines, costs, reasonable amounts paid in settlement,
         liabilities, obligations, taxes, liens, losses, expenses, and fees,
         including court costs and reasonable attorneys' fees and expenses
         (collectively, "Adverse Consequences") that the Purchaser shall suffer
         through and after the date of the claim for indemnification (but
         excluding any Adverse Consequences the Purchaser shall suffer after the
         end of any applicable survival period) caused by: (i) Seller's breach
         of any of its representations, warranties, covenants or agreements
         contained in this Agreement; or (ii) any liability of Seller that is
         not an Assumed Liability (including any liability of Seller that
         becomes a liability of the Purchaser under any bulk transfer law of any
         jurisdiction, under any common law doctrine of defacto merger or
         successor liability (including, but not limited to ERISA), or otherwise
         by operation of law); provided, however, that Seller shall not have any
         obligation to indemnify the Purchaser under this Section 4.1.1:

                           4.1.1.1. Deductible. Until the Purchaser has suffered
                  Adverse Consequences by reason of all such breaches in excess
                  of a $10,000 aggregate deductible (after which point Seller
                  will be obligated only to indemnify the Purchaser from and
                  against further such Adverse Consequences); or,

                           4.1.1.2. Limits on Indemnification. To the extent the
                  Adverse Consequences the Purchaser has suffered by reason of
                  all such breaches exceeds a ceiling equal to the Purchase
                  Price (after which point Seller will have no obligation to
                  indemnify the Purchaser from and against further such Adverse
                  Consequences).

                  4.1.2. Indemnification by Purchaser. Purchaser shall indemnify
         Seller from and against any and all Adverse Consequences Seller shall
         suffer through and after the date of the claim for indemnification (but
         excluding any Adverse Consequences Seller shall suffer after the end of
         any applicable survival period) arising from or relating to Purchaser's
         breach any of its representations, warranties, covenants or agreements
         contained in this Agreement; any Assumed Liability; or, the Business or
         the Assets (other than those matters for which Seller shall indemnify
         Purchaser under Section 4.1.1 above); provided, however, that Purchaser
         shall not have any obligation to indemnify the Seller under this
         Section 4.1.2:

                           4.1.2.1. Deductible. Until the Seller has suffered
                  Adverse Consequences by reason of all such breaches in excess
                  of a $10,000 aggregate deductible (after which point Purchaser
                  will be obligated only to indemnify the Seller from and
                  against further

                                       10
<PAGE>   12

                  such Adverse Consequence);

                           4.1.2.2. Limitation on Indemnification. To the extent
                  the Adverse Consequences the Seller has suffered by reason of
                  all such breaches exceeds a ceiling equal to the Purchase
                  Price (after which point Purchaser will have no obligation to
                  indemnify the Seller from and against further such Adverse
                  Consequences).

         4.2. Indemnification Procedure. If any Party hereto discovers or
otherwise become aware of a claim with respect to which a claim for
indemnification may be made pursuant to Sections 4.1.1 or 4.1.2 of this
Agreement (including any third party claim) (the "Indemnified Party"), such
Indemnified Party shall give written notice to the other Party (the
"Indemnifying Party"), specifying such claim; provided, however, that the
failure of any Indemnified Party to give notice as provided herein shall not
relieve the Indemnifying Party of any obligations hereunder to the extent the
Indemnifying Party is not Materially prejudiced thereby. Further, promptly after
receipt by an Indemnified Party hereunder of written notice of the commencement
of any action or proceeding with respect to which a claim for indemnification
may be made pursuant to this Section 4, such Indemnified Party shall, if a claim
in respect thereof is to be made against any Indemnifying Party, give written
notice to the latter of the commencement of such action; provided, however, that
the failure of any Indemnified Party to give notice as provided herein shall not
relieve the Indemnifying Party of any obligations hereunder to the extent the
Indemnifying Party is not Materially prejudiced thereby. In case any such action
is brought against an Indemnified Party, the Indemnifying Party shall assume the
defense thereof to the extent that it may wish, with counsel reasonably
satisfactory to such Indemnified Party, and after such notice from the
Indemnifying Party to such Indemnified Party of its assumption of the defense
thereof, the Indemnifying Party shall not be liable to such Indemnified Party
for any legal or other expenses subsequently incurred by the latter in
connection with the defense thereof unless the Indemnifying Party has failed to
assume the defense of such claim and to employ counsel reasonably satisfactory
to such Indemnified Party. An Indemnifying Party who does not assume the defense
of a claim shall not be liable for the fees and expenses of more than one
counsel in any single jurisdiction for all parties indemnified by such
Indemnifying Party with respect to such claim or with respect to claims separate
but similar or related in the same jurisdiction arising out of the same general
allegations. Notwithstanding any of the foregoing to the contrary, the
Indemnified Party will be entitled to select its own counsel and assume the
defense of any action brought against it if the Indemnifying Party fails to
select counsel reasonably satisfactory to the Indemnified Party, the expenses of
such defense to be paid by the Indemnifying Party. No Indemnifying Party shall
consent to entry of any judgment or enter into any settlement with respect to a
claim without the consent of the Indemnified Party, which consent shall not be
unreasonably withheld, or unless such judgment or settlement includes as an
unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Party of a release from all liability with respect to such claim. No
Indemnified Party shall consent to entry of any judgment or enter into any
settlement of any such action, the defense of which has been assumed by an
Indemnifying Party, without the consent of such Indemnifying Party, which
consent shall not be unreasonably withheld or delayed. All costs and expenses to
be paid by an Indemnifying Party on behalf of an Indemnified Party shall be paid
on a current basis as incurred.

         4.3. Determination of Adverse Consequences. The Purchaser and Seller
shall make appropriate adjustments for insurance coverage in determining Adverse
Consequences for purposes of this Section 4. All indemnification payments made
by the Seller under this Section 4 shall be deemed adjustments to the Purchase
Price.

         4.4. Exclusive Remedy. The Purchaser and Seller acknowledge and agree
that other

                                       11
<PAGE>   13

         than as set forth in Sections 2.4 and 2.5, the foregoing
         indemnification provisions in this Section 4 shall be the exclusive
         remedy of the Purchaser and Seller with respect to the transactions
         contemplated by this Agreement.

                  4.5. Survival of Representations and Warranties. All of the
         representations and warranties of the Parties contained in this
         Agreement, other than the representations and warranties of the Seller
         contained in Sections 5.1.13 and 5.1.14, shall survive the Closing
         (even if the damaged Party knew or had reason to know of any
         misrepresentation or breach of warranty at the time of Closing) and
         continue in full force and effect for a period of two years thereafter.
         The representations and warranties of the Seller contained in Sections
         5.1.13 and 5.1.14 of this Agreement shall survive the Closing (even if
         the damaged Party knew or had reason to know of any misrepresentation
         or breach of warranty at the time of Closing) and continue in full
         force and effect until the statute of limitations relating to the
         action giving rise to the potential liability has expired.

         5.1. Representations and Warranties. Seller represents and warrants to
the Purchaser as follows:

                  5.1.1. Organization and Good Standing. Seller is a corporation
         duly organized, validly existing and in good standing under the laws of
         Venezuela has full requisite corporate power and authority to carry on
         its business as it is currently conducted, and to own and operate the
         properties currently owned and operated by it, and is duly qualified or
         licensed to do business and is in good standing as a foreign
         corporation authorized to do business in all jurisdictions in which the
         character of the properties owned or the nature of the businesses
         conducted by it would make such qualification or licensing necessary.

                  5.1.2. Agreements Authorized and their Effect on Other
         Obligations. Seller has requisite power and authority to execute and
         deliver this Agreement and the other Transaction Documents to which it
         is a party. The execution and delivery of this Agreement and the other
         Transaction Documents to which the Seller is a party have been
         authorized by all necessary corporate, shareholder and other action on
         the part of the Seller, and this Agreement and the other Transaction
         Documents to which the Seller is a party are the valid and binding
         obligations of the Seller, enforceable against the Seller in accordance
         with their respective terms, except as enforceability may be limited by
         bankruptcy, insolvency, reorganization, debtor relief or similar laws
         affecting the rights of creditors generally and subject to normal
         equitable principles. The execution, delivery and performance of this
         Agreement and the other Transaction Documents to which the Seller is a
         party, and the consummation of the transactions contemplated hereby and
         thereby, will not conflict with or result in a violation or breach of
         any term or provision of, nor constitute a default under (i) the
         charter or bylaws (or other organizational documents) of the Seller,
         (ii) any obligation, indenture, mortgage, deed of trust, lease,
         contract or other agreement to which the Seller is a party or by which
         the Seller or its properties are bound; or (iii) any provision of any
         law, rule, regulation, order, permit, certificate, writ, judgment,
         injunction, decree, determination, award or other decision of any
         court, arbitrator, or other governmental authority to which the Seller
         or any of its properties are subject.

                  5.1.3. Subsidiaries. The Seller does not have any subsidiary
         corporations or any interest in any other organization, incorporated or
         unincorporated, partnership or any other entity of any type.

                                       12
<PAGE>   14
          5.1.4. Contracts. Schedule 2.1.3 hereto sets forth a true, complete
     and accurate list of all Material Contracts of the Seller, including leases
     under which the Seller is lessor or lessee, which relate to the Assets or
     the Business and are to be performed in whole or in part after the date
     hereof. All of the Material Contracts are in full force and effect, and
     constitute valid and binding obligations of the Seller. The Seller is not,
     and to Seller's knowledge, no other party to any of the Material Contracts
     is, in Material default thereunder, and no event has occurred that (with or
     without notice, lapse of time, or the happening of any other event) would
     constitute a Material default thereunder.

          5.1.5. Title to and Condition of Assets. The Seller has good title to
     all of the Assets, free and clear of any Encumbrances. The Seller will
     transfer good title to the Assets and the Purchaser will acquire such good
     title upon consummation of the transactions contemplated hereby. All of the
     Assets are in a state of good operating condition and repair, ordinary wear
     and tear excepted, and are free from any known defects except as may be
     repaired by routine maintenance and such minor defects as to not
     substantially interfere with the continued use thereof in the conduct of
     normal operations. All of the Assets Materially conform to all applicable
     laws governing their use. No notice of any violation of any law, statute,
     ordinance, or regulation relating to any of the Assets has been received by
     the Seller, except such as have been complied with in all Material
     respects.

          5.1.6. Intellectual Property. Schedule 2.1.4 hereto sets forth a true,
     complete and accurate list of all of the Intellectual Property. Except as
     set forth on Schedule 2.1.4, (i) the Intellectual Property is owned or
     licensed by the Seller free and clear of any Encumbrances; (ii) the Seller
     has not granted to any other person any license to use any Intellectual
     Property; and (iii) the Seller has not received any notice of infringement,
     misappropriation, or conflict with the intellectual property rights of
     others in connection with the use by the Seller of the Intellectual
     Property.

          5.1.7. Licenses and Permits. Schedule 2.1.6 hereto sets forth a true,
     complete and accurate list of all of the Licenses and Permits. Except as
     set forth on Schedule 5.1.7, each of the Licenses and Permits and the
     Seller's rights with respect thereto is valid and subsisting, in full force
     and effect, and enforceable by the Seller subject to administrative powers
     of regulatory agencies having jurisdiction. Except as set forth on Schedule
     5.1.7, the Seller is in Material compliance with the terms of each of the
     Licenses and Permits. None of the Licenses and Permits have been, or to the
     knowledge of the Seller, are threatened to be, revoked, canceled, suspended
     or modified. Upon consummation of the transactions contemplated hereby, all
     of the Licenses and Permits that are assignable without the consent of any
     governmental or other agency shall be assigned to the Purchaser.

          5.1.8. Financial Statements. The Seller has delivered to the Purchaser
     copies of the Seller's unaudited balance sheet as of October 31, 1998 and
     related statements of income and shareholders' equity as of and for the
     eight months ended October 31, 1998 (collectively, the "Financial
     Statements"), copies of which are attached hereto as Schedule 5.1.8. The
     Financial Statements are true, correct and complete in all Material
     respects and present fairly and fully the financial condition of the Seller
     as of the dates and for the periods indicated thereon, and have been
     prepared in accordance with generally accepted accounting principles
     applied on a consistent basis, except as noted therein. The accounts
     receivable reflected on the Financial Statements, or which have been
     thereafter acquired by the Seller, have been collected or are collectible
     at the aggregate recorded amounts thereof less applicable reserves, which
     reserves are adequate.

                                       13

<PAGE>   15
        5.1.9.  Recognized Billings and Costs. The Contract Values, Recognized
Billings, Recognized Costs and the status of each Project set forth in the Job
Summary Schedule will be true, correct and complete in all Material respects as
of the date thereof and present fairly and fully such information regarding
each Project, and have been prepared in accordance with Seller's customary
accounting procedures.

         5.1.10.  Additional Information. Attached as Schedule 5.1.10.1 through
and including Schedule 5.1.10.12, which, expect for omissions and inaccuracies
that are not, in the aggregate, Material to the Business, are true, complete
and correct lists of the following items:

                   5.1.10.1. Receivables. All accounts and notes receivable
         of the Seller as of October 31, 1998, together with (i) an appropriate
         invoice date and due date aging schedule; (ii) the amounts provided for
         as an allowance for bad debts; (iii) the identity and location of any
         asset in which the Seller holds a security interest to secure payment
         of the underlying indebtedness; and (iv) a description of the nature
         and amount of any Encumbrances on such accounts and notes receivable;

                   5.1.10.2. Payables. All accounts and notes payable of the
         Seller as of October 31, 1998, together with an appropriate aging
         schedule;

                   5.1.10.3. Bank Accounts. The name of each bank in which the
         Seller has an account, the names of all persons authorized to draw
         thereon, the account balances and the account numbers of each such
         account;

                   5.1.10.4. Employee Agreements. Any collective bargaining
         agreements of the Seller with employees, including amendments,
         supplements, and written understandings, and all written employment,
         compensation or consulting agreements, of the Seller with any person;

                   5.1.10.5. Employees. All employees, their positions with the
         Company and their compensation (including bonus);

                   5.1.10.6. Promissory Notes and Indebtedness. All long-term
         and short-term promissory notes, installment contracts, loan
         agreements, credit agreements and any other agreements of the Seller
         relating thereto or with respect to collateral securing the same;

                   5.1.10.7. Guaranties. All indebtedness, liabilities and
         commitments of others and as to which the Seller is a guarantor,
         endorser, co-maker, surety, or accommodation maker, or is contingently
         liable therefor (excluding liabilities as an endorser of checks and
         the like in the ordinary course of business) and all letters of credit,
         whether stand-by or documentary, issued by any third party.

                   5.1.10.8. Other Assets. Schedules 2.1.1, 2.1.2, 2.1.3,
         2.1.4, 2.1.5 and 2.1.6 are true complete and correct listings of the
         Real Property, Machinery and Equipment, Contracts and Leased
         Properties, Intellectual Property, Inventory and Supplies, and
         Licenses and Permits of the Company, except to the extent of
         inaccuracies that are not Material to the assets of the Business.

         5.1.11. Absence of Certain Changes and Events. Other than as a result
of the transactions contemplated by this Agreement or as set forth on Schedule
5.1.11, since October 31, 1998, there has

                                       14
<PAGE>   16
not been:

          5.1.11.1. Financial Change. Any material adverse change in the Assets,
     the Business or the financial condition, operations, liabilities or
     prospects of the Seller;

          5.1.11.2. Property Damage. Any material damage, destruction, or loss
     to any of the Assets or the Business (whether or not covered by insurance);

          5.1.11.3. Waiver. Any waiver or release of a material right of or
     claim held by the Seller;

          5.1.11.4. Change in Assets. Any acquisition, disposition, transfer,
     dividend, encumbrance, mortgage, pledge or other encumbrance of any asset
     of the Seller other than in the ordinary course of business.

          5.1.11.6. Employment Arrangements. Any change in the duration or level
     of compensation, bonus or severance payable under any employment or
     contract arrangement with the Seller (whether by amendment to any existing
     arrangement or by the entering into a new arrangement) outside of the
     ordinary course of business; or

          5.1.11.7. Other Material Changes. Any other event or condition known
     to either the Seller that would or may have a Material adverse effect on
     the Seller, the Assets or the Business.

     5.1.12. Assets. The Assets constitute all of the assets used by Seller to
conduct the Business as historically conducted by the Seller.

     5.1.13. Environmental Matters. Except as set forth on Schedule 5.1.13, none
of the current or past operations of the Business or any of the Assets is being
or has been conducted or used in such a manner as to constitute a Material
violation of any Environmental Law. The Seller has not received any written
notice from any entity, governmental agency or individual regarding any
existing, pending or threatened investigation or inquiry related to violations
of any Environmental Law or regarding any claims for remedial obligations or
contribution for removal costs or damages under any Environmental Law, which, in
the aggregate, would have a Material adverse effect on the Business or
operations of the Assets. There are no writs, injunction decrees, orders or
judgments outstanding, or lawsuits, claims, proceedings or investigations
pending or, to the knowledge of the Seller, threatened, relating to the
ownership, use, maintenance or operation of the Assets or the conduct of the
Business, nor, to the knowledge of the Seller, is there any basis for any of the
foregoing. Schedule 5.1.13 contains a list of all reports and environmental
assessments that the Seller has received with respect to any property owned,
operated or leased by the Seller, and the Seller has provided copies of such
reports and environmental assessments to the Purchaser. Except as set forth on
Schedule 5.1.13, the Seller has no liability at any third party site as a result
of disposing or arranging for the disposal of Hazardous Materials.

     5.1.14. Employee Benefit Plans; Labor Issues. The Seller will deliver to
the Purchaser copies of the Employee Plans and any other health, dental and
life insurance plans, bonus, deferred compensation, pension, profit sharing and
retirement plans and all other employee benefit plans, programs or
arrangements providing benefits for employees of the Seller (the "Benefit
Plans").

                                       15
<PAGE>   17
         5.1.15. Necessary Consents. As of the Closing Date, the Seller will
have obtained and delivered to the Purchaser all consents required to be
obtained from any governmental authority or from any other third party
necessary for the Seller to consummate the transactions contemplated hereby.

         5.1.16. Investigations, Litigation. No investigation or review by any
governmental entity with respect to the Seller or any of the transactions
contemplated by this Agreement is pending or, to the knowledge of the Seller,
threatened, nor has any governmental entity indicated to the Seller an intention
to conduct the same. Except as disclosed on Schedule 5.1.16, there is no
material suit, action, or legal, administrative, arbitration or other
proceeding, or governmental investigation pending to which the Seller is a
party or, to the knowledge of the Seller, might become a party.

                  5.1.17. Transactions with Management. Except as set forth on
         Schedule 5.1.17, the Seller is not a party to any contract, lease or
         agreement with any of the officers or directors of the Seller.

                  5.1.18. Compliance with Other Laws. The Seller is not in
         Material violation of or in material default with respect to, or in
         alleged violation of or alleged default with respect to OSHA, or any
         applicable law or any applicable rule, regulation, or any writ or
         decree of any court or any governmental commission, board, bureau,
         agency, or instrumentality, or delinquent with respect to any Material
         report required to be filed with any governmental commission, board,
         bureau, agency or instrumentality except for such defaults or
         violations that will not have a Material adverse effect on the Assets
         or the Business.

                  5.1.19. Finder's Fee. Except as set forth on Schedule 5.1.19,
         all negotiations relative to this Agreement and the transactions
         contemplated hereby have been carried on by the Seller and its counsel
         directly with Purchaser and its counsel, without the intervention of
         any other person in such manner as to give rise to any valid claim
         against any of the Parties hereto for a brokerage commission, finder's
         fee or any similar payment.

6.       PURCHASER'S REPRESENTATIONS AND WARRANTIES

         6.1. Organization and Good Standing. Purchaser is a corporation duly
organized, validly existing and in good standing under the laws of Texas, has
full requisite corporate power and authority to carry on its business as it is
currently conducted, and to own and operate the properties currently owned and
operated by it, and is duly qualified or licensed to do business and is in good
standing as a foreign corporation authorized to do business in all jurisdictions
in which the character of the properties owned or the nature of the business
conducted by it would make such qualification or licensing necessary.

         6.2. Agreement Authorized and its Effect on Other Obligations. The
Purchaser has requisite power and authority to execute and deliver this
Agreement and the other Transaction Documents to which it is a party. The
execution and delivery of this Agreement and the other Transaction Documents to
which the Purchaser is a party have been authorized by all necessary corporate,
shareholder and other action on the part of the Purchaser, and this Agreement
and the other Transaction Documents to which the Purchaser is a party are the
valid and binding obligations of the Purchaser, enforceable against the
Purchaser in accordance with their respective terms, except as enforceability
may be limited by bankruptcy, insolvency, reorganization, debtor relief or
similar laws affecting rights of creditors generally and subject to normal
equitable principles. The execution, delivery and

                                       16

<PAGE>   18
performance of this Agreement and the other Transactions Documents to which the
Purchaser is a party, and the consummation of the transactions contemplated
hereby and thereby, will not conflict with or result in a violation or breach
of any term or provision of, nor constitute a default under (i) the charter or
bylaws (or other organizational documents) of the Purchaser, (ii) any
obligation, indenture, mortgage, deed of trust, lease, contract or other
agreement to which the Purchaser is a party or by which the Purchaser or its
properties are bound; or (iii) any provision of any law, rule, regulation,
order, permit, certificate, writ, judgment, injunction, decree, determination,
award or other decision of any court, arbitrator, or other governmental
authority to which the Purchaser or any of its properties are subject.

     6.3. Necessary Consents. As of the Closing Date, the Purchaser will have
obtained and delivered to the Seller all consents required to be obtained from
any governmental authority or from any other third party necessary for the
Purchaser to consummate the transactions contemplated hereby.

     6.4. Investigations. No investigation or review by any governmental
entity with respect to the Purchaser or any of the transactions contemplated by
this Agreement is pending, or to knowledge of Purchaser, threatened, nor has
any governmental entity indicated to Purchaser an intention to conduct the same.

     6.5. Finder's Fee. Except as set forth on Schedule 6.5, all negotiations
relative to this Agreement and the transactions contemplated hereby have been
carried on by the Purchaser and its counsel directly with the Seller and its
counsel, without the intervention of any other person in such manner as to give
rise to any valid claim against any of the Parties hereto for brokerage
commission, finder's fee or any similar payment.

7. SELLER'S COVENANTS

     7.1. Seller ~ Covenants. In addition to those covenants of Seller in
Section 4 above, Seller covenants as follows:

          7.1.1. Employees.

               7.1.1.1. Liability for Retention Bonuses. The Seller acknowledges
          that payment of any applicable retention bonuses to induce certain
          employees to remain employed by the Business for a specified period of
          time following the Closing Date is the obligation of the Seller or its
          affiliates, and payment of retention bonuses will not be a liability
          of the Purchaser under any circumstances.

               7.1.1.2. Non-Solicitation of Employees. Except for those
individuals listed on Schedule 7.1.1.2, if Purchaser extends an offer of
employment to a Seller employee pursuant to Section 8.1.1 below, Seller and
Seller's affiliates shall not make a competing offer of employment in any
capacity to such employee for one year following the Closing Date and will
waive any non-competition or other employment contract obligation that might
otherwise restrict the employee's ability to be employed by Purchaser;
provided, that nothing shall prevent Seller from offering employment to any
present Seller employee who is not offered employment by Purchaser or whose
employment with Purchaser is terminated by Purchaser.

                                       17
<PAGE>   19
                           7.1.13. Medical Insurance. Seller shall arrange for
                  the benefits administration company currently coordinating the
                  medical benefits coverage for the Seller's employees to offer
                  to provide, at the expense of the Purchaser, continuation of
                  benefits, at Seller's existing pricing terms and conditions,
                  as of and after the Closing.

                  7.1.2. Name Change. Within 30 days following the Closing Date,
         Seller shall apply to the appropriate governmental authorities to
         change its corporate name to a name that is different from "P.W.
         Stephens Residential, Inc."

                  7.1.3. Covenant Against Competition. For a period of five
         years following the Closing Date, Seller will not directly or
         indirectly through any affiliate or subcontractor, (i) engage in any
         manner in a business which is the equivalent of, or is competitive
         with, the products and services of the Purchaser, within the United
         States or any foreign country (a "Competing Business"), (ii) assist any
         other person in engaging in a Competing Business or (iii) solicit or
         contact any customer, supplier, employee or other person with a
         business relationship with the Purchaser to influence such person or
         entity to alter in any manner its or his relationship with the
         Purchaser. If at the time of enforcement of this Section 7.1.3, a court
         of competent jurisdiction should hold that the restrictions herein are
         unreasonable under the circumstances then existing, the Parties agree
         that the maximum duration, scope or geographical area legally
         permissible under such circumstances will be substituted for the
         duration, scope or area stated herein.

                  7.1.4. Further Assurances. To the extent any Licenses and
         Permits are not transferable, the Seller will use its reasonable best
         efforts to assist the Purchaser in obtaining newly issued Licenses and
         Permits before the Closing Date.

                  7.1.5. Insurance, Performance Bonds and Guaranties. The
         Seller will use its reasonable best efforts to keep in place, at
         Purchaser's expense, all insurance policies, performance bonds and
         guarantees maintained by, or for the benefit of, the Seller and listed
         on Schedule 7.1.5 until the earlier of (i) the expiration of such
         insurance policies, performance bonds and guaranties; (ii) until the
         Purchaser has obtained substitute insurance policies, performance bonds
         or guaranties; or (iii) six months after the Closing. The Purchaser
         shall indemnify the Seller against any liabilities incurred by the
         Seller under such performance bonds and guarantees listed on Schedule
         7.1.5, and shall provide to the Seller backup guarantees, performance
         bonds or other sources of security reasonably acceptable to the Seller
         to secure the Purchaser's obligations pursuant to this Section 7.1.5.

8.       PURCHASER'S COVENANTS

         8.1 Purchaser's Covenants. In addition to those covenants of Purchaser
in Section 4 above, Purchaser covenants as follows:

             8.1.1. Employees. On the Closing Date, Purchaser shall offer
         employment to each of Seller's employees.

             8.1.2. Bulk Sales Requirements. Purchaser hereby waives compliance
         by Seller with any

                                       18
<PAGE>   20
     bulk sales notice requirements under applicable law, and Seller shall
     indemnify and hold Purchaser harmless from any and all losses, liabilities,
     claims and expenses incurred by Purchaser as a result of Seller's failure
     to comply with such requirements.

          8.1.3. Closing of Seller's Books. Within 60 days of the Closing Date,
     Purchaser shall close the books of the Business as of the Closing Date,
     consistent with the Seller's past practice, and shall supply Seller with a
     copy of the closing documents.

          8.1.4. Full Access. On and after the Closing Date, representatives of
     Seller shall have, upon reasonable notice, and for reasonable business
     purposes (such as defense of litigation, response to inquiries from tax
     and regulatory authorities, etc.), access at reasonable times during normal
     business hours to the premises, senior management and employees, books,
     records, contacts, and documents of Purchaser relating to the Business,
     Assets, or any other liability or obligation that is not an Assumed
     Liability; provided, however, that the representatives of Seller shall
     comply with all security procedures and requirements of Purchaser with
     respect to such premises, books, records, contracts, tax matters, and
     documents, and that any such activities shall be conducted in a manner that
     does not unreasonably interfere with Purchaser's operations.

9. PRE-CLOSING COVENANTS

     9.1. Pre-Closing Covenants. The Parties agree as follows with respect to
the period between the execution of this Agreement and the Closing:

          9.1.1. General. Each of the Parties will use its reasonable best
     efforts to take all action and to do all things reasonably necessary to
     consummate and make effective the transactions contemplated by this
     Agreement (including satisfaction, but not waiver, of the closing
     conditions set forth in Section 10 and Section 11 below).

          9.1.2. Agreements of the Seller. Except as expressly contemplated
     elsewhere in this Agreement, the Seller agrees that from the date hereof
     until the Closing Date, the Seller will:

               9.1.2.1. Maintenance of Present Business. Operate its business
          only in the usual, regular, and ordinary manner so as to maintain the
          goodwill it now enjoys and, to the extent consistent with such
          operation, use its reasonable best efforts to preserve intact its
          present business organization, keep available the services of its
          present officers and employees, and preserve its relationship with
          customers, suppliers, jobbers, distributors and others having business
          dealings with it;

               9.1.2.2. Maintenance of Properties. At its expense, consistently
          with historic practices, maintain all of its property and Assets in
          customary repair, order and condition, reasonable wear and tear
          excepted;

               9.1.2.3. Maintenance of Books and Records. Maintain its books of
          account and records in the usual, regular, and ordinary manner, in
          accordance with its customary accounting principles applied on a
          consistent basis;

               9.1.2.4. Compliance with Law. Comply with all laws applicable and
          Material to the conduct of its business;

                                       19
<PAGE>   21
                           9.1.2.5. Prohibition of Certain Contracts and
                  Liabilities. Except for orders made and contracts entered into
                  in the ordinary course of business, not enter into any
                  contracts, enter into a commitment for expenditures or incur
                  any liability, in each case exceeding $5,000, unless approved
                  in writing by the Purchaser, which involve the payment of more
                  than $5,000 each;

                           9.1.2.6. Prohibition of Loans. Not incur any
                  obligations for borrowed money, except for loans in the
                  ordinary course of business;

                           9.1.2.7. Disposal of Assets. Not sell, dispose of, or
                  encumber any property or assets, except in the ordinary course
                  of business;

                           9.1.2.8. Maintenance of Insurance. Maintain insurance
                  upon all its properties and with respect to the conduct of its
                  business of such kinds and in such amounts as is not less than
                  that presently carried by it;

                           9.1.2.9. No Amendments to Charter Documents and
                  Related Matters. Not amend its charter documents, or merge or
                  consolidate with or into any person, change in any manner the
                  rights of its capital stock or the character of its business;

                           9.1.2.10. Prohibition on Dividends. Not declare any
                  dividend on shares of its capital stock or make any other
                  non-cash distribution of assets to the holders thereof;

                           9.1.2.11. Acquisition Proposals. Not directly or
                  indirectly (i) solicit, initiate or encourage any inquiry or
                  Acquisition Proposal from any person or (ii) participate in
                  any discussions or negotiations regarding, or furnish to any
                  person other than Purchaser or its representatives any
                  information with respect to, or otherwise facilitate or
                  encourage any Acquisition Proposal by any other person. The
                  Seller shall promptly communicate to Purchaser the terms of
                  any such written Acquisition Proposal that it may receive or
                  any written or oral inquiries made to Seller or any of its
                  directors, officers, representatives or agents.

                  9.1.3. Notices and Consents. The Seller will give any notices
         to third parties, and the Seller will use its reasonable best efforts
         to obtain any third party consents, that the Purchaser reasonably may
         request in connection with the matters referred to in Section 5.1.15.
         Each of the Parties will give any notices to, make any filings with,
         and use its reasonable best efforts to obtain any authorizations,
         consents, and approvals of governments and governmental agencies in
         connection with the matters referred to in Sections 5.1.15 and 6.3.

                  9.1.4. Full Access. The Seller will permit representatives of
         the Purchaser to have full access at all reasonable times, and in a
         manner so as not to interfere with the normal business operations of
         the Seller, to all premises, properties, personnel, books, records
         (including tax records), contracts, and documents of or pertaining to
         the Seller and the Business.

                  9.1.5. Notice of Developments.

                         9.1.5.1. The Seller may, by written notice to
                  Purchaser elect, at any time before Closing, to update any of
                  the Schedules to this Agreement. Unless the Purchaser has the
                  right to terminate this Agreement pursuant to Section 12.1.2
                  below by reason of the update

                                       20
<PAGE>   22
                  and exercises that right within the period referred to in
                  Section 12.12 below, the written notice pursuant to this
                  Section 9.1.5.1 will be deemed to have amended the affected
                  Schedule(s) to have qualified the representations and
                  warranties contained in Section 5 above, and to have cured any
                  misrepresentation or breach of warranty that otherwise might
                  have existed.

                           9.1.5.2. Each Party will give prompt written notice
                  to the other Party of any act, omission, event or occurrence,
                  other than a Seller update described in Section 9.1.5.1,
                  above, causing a breach of any of its own representations and
                  warranties contained in this Agreement. No disclosure by any
                  Party pursuant to this Section 9.1.5.2, however, shall be
                  deemed to amend or supplement the Schedules or to prevent or
                  cure any misrepresentation or breach of warranty.

10. SELLER'S CONDITIONS PRECEDENT TO CLOSING

                  10.1 Seller's Obligation. Seller's obligation to enter into
and complete the Closing is subject to the fulfillment on or before the Closing
Date of each of the following conditions. Seller may waive any or all of these
conditions, in whole or in part, at Seller's sole option.

                           10.1.1. Representations, Warranties and Covenants.
                  The representations and warranties of the Purchaser contained
                  in this Agreement shall be true and correct in all Material
                  respects as of the date of this Agreement and as of the
                  Closing Date. Purchaser shall have performed and complied in
                  all Material respects with all covenants and agreements
                  required by this Agreement to be performed or complied with by
                  Purchaser on or before the Closing Date. Purchaser shall have
                  delivered to Seller a certificate, in form reasonably
                  satisfactory to Seller, dated as of the Closing Date and
                  signed by a duly authorized officer of Purchaser, to the
                  foregoing effect.

                           10.1.2. Consents. All governmental and third party
                  consents, approvals and waivers, if any, required for the
                  consummation of the Acquisition shall have been received.

                           10.1.3. No Material Litigation. No suit, action, or
                  other proceeding shall be pending, or to Seller's knowledge,
                  threatened, before any court or governmental agency in which
                  it will be, or it is, sought to restrain or prohibit or to
                  obtain damages or provide other relief in connection with this
                  Agreement or the consummation of the transactions contemplated
                  hereby.

                           10.1.4. Corporate Action. Seller shall have received:

                                    10.1.4.1. Board Resolutions. A copy of the
                           resolution or resolutions duly adopted by the Board
                           of Directors of Purchaser authorizing the execution,
                           delivery and performance by the Purchaser of this
                           Agreement and the other Transaction Documents to
                           which the Purchaser is a Party, certified by its
                           Secretary;

                                    10.1.4.2. Secretary's Certificate. A
                           certificate of the Secretary of Purchaser, in form
                           reasonably satisfactory to Seller, certifying the
                           incumbency and signature of the officers of Purchaser
                           executing this Agreement and the other Transaction
                           Documents to which the Purchaser is a Party, and
                           stating that the foregoing resolutions remain in
                           effect and unaltered; and

11. PURCHASER'S CONDITIONS PRECEDENT TO CLOSING

                                       21
<PAGE>   23
         11.1. Purchaser's Obligation. Purchaser's obligation to enter into and
complete the Closing is subject to the fulfillment on or before the Closing Date
of each of the following conditions. Purchaser may waive any or all of these
conditions, in whole or in part, at Purchaser's sole option.

                  11.1.1. Representations, Warranties and Covenants. The
         representations and warranties of Seller contained in this Agreement
         shall be true and correct in all Material respects as of the Closing
         Date. Seller shall have performed and complied in all Material respects
         with all covenants and agreements required by this Agreement to be
         performed or complied with by Seller on or before the Closing Date.
         Seller shall have delivered to Purchaser a certificate in form
         reasonably satisfactory to Purchaser, dated as of the Closing Date and
         signed by duly authorized officers of Seller, to the foregoing effect.

                  11.1.2. No Material Litigation. No suit, action, or other
         proceeding shall be pending, or to the Purchaser's knowledge,
         threatened, before any court or governmental agency in which it will
         be, or it is, sought to restrain or prohibit or to obtain damages or
         other relief in connection with this Agreement or the consummation of
         the transactions contemplated hereby.

                  11.1.3. Consents. All governmental and third party consents,
         approvals and waivers, if any, required for the consummation of the
         Acquisition shall have been received.

                  11.1.4. Corporate Action. Purchaser shall have received:

                          11.1.4.1.  Board Resolutions. A copy of the resolution
         or resolutions duly adopted by the Board of Directors of Seller
         authorizing the execution, delivery and performance by Seller of this
         Agreement and the other Transaction Documents to which Seller is a
         party, certified by its Secretary;

                          11.1.4.2. Secretary's Certificate. Certificate of the
         Secretary of Seller, in form reasonably satisfactory to Purchaser,
         certifying the incumbency and signature of the officers of Seller
         executing this Agreement and the other Transaction Documents to which
         Seller is a party, and stating that the foregoing resolutions remain in
         effect and unaltered; and

                  11.1.5. Transfer Documents.

                          11.1.5.1. Bill of Sale and Deeds. Seller shall have
         executed and delivered to Purchaser on the Closing Date the items
         specified in Sections 2.8.1, 2.8.2 and 2.8.3.

                          11.1.5.2. Assignments of Contracts and Licenses and
         Permits. All of the Contracts and Licenses and Permits that are
         assignable as of the Closing Date shall have been validly assigned to
         the Purchaser without the consent of any other Party thereto other than
         consents that have been obtained as of the Closing Date.

                  11.1.6. Title Insurance/Surveys. Purchaser shall have received
         from a title company and surveyor:

                          11.1.6.1. Title Policy. With respect to the Real
         Property the Title Policy, in form reasonably acceptable to Purchaser,
         at standard rates, together with copies of all documents

                                       22

<PAGE>   24
                  affecting title; and

                           11.1.6.2. Survey. A survey of the Real Property
                  certified to Purchaser and the title insurance company issuing
                  the Policy in a manner reasonably acceptable to Purchaser and
                  such title company.

                  11.1.7. Additional Agreements. The following additional
         agreements shall have been executed and delivered:

                          11.1.7.1. Employment Agreements. Purchaser and the
         other parties thereto shall have entered into the Employment
         Agreements.

                          11.1.7.2. Assignment of Indemnities. The indemnities
         under the contracts and agreements listed on Schedule 11.1.7.2
         currently running to the Seller or its affiliates shall be effectively
         assigned to the Purchaser in such a fashion that the Purchaser will
         have the full benefits thereof.

                          11.1.8. Completion of Due Diligence. The Purchaser
         shall have completed and have been satisfied with the results of its
         due diligence review of the Seller's Assets and the Business.

                          11.1.9. Opinion of Counsel. The Purchaser shall have
         received from counsel to the Seller an opinion in form and substance
         reasonably satisfactory to Purchaser and its counsel, addressed to the
         Purchaser, and dated as of the Closing Date.

12.      TERMINATION

         12.1 Termination of Agreement. Either of the Parties may terminate
this Agreement as provided below:

                  12.1.1. By Mutual Consent. The Purchaser and the Seller may
         terminate this Agreement by mutual written consent at any time before
         the Closing.

                  12.1.2. By Purchaser Due to Material Adverse Effect. The
         Purchaser may terminate this Agreement by giving written notice to the
         Seller at any time before the Closing if (i) the Seller has within the
         then previous 10 days given the Purchaser any notice updating the
         Schedules to this Agreement pursuant to Section 9.1.5.1 above and (ii)
         the development that is the subject of the notice has had a Material
         adverse effect upon the financial condition of the Business or Assets
         taken as a whole.

                  12.1.3. By Purchase Due to Breach of Representation or
         Warranty. The Purchaser may terminate this Agreement by giving written
         notice to the Seller at any time before the Closing if the Seller has
         breached any representation, warranty or covenant contained in this
         Agreement in any Material respect.

                  12.1.4. By Purchaser Due to Failure to Close Before December
         31, 1998. The Purchaser may terminate this Agreement by giving written
         notice to the Seller if the Closing shall not have occurred on or
         before December 3, 1998, by reason of the failure of any condition
         precedent under Section 11 hereof (unless the failure results
         primarily from the Purchaser itself

                                       23
<PAGE>   25
         breaching any representation, warranty, or covenant contained in this
         Agreement).

                  12.1.5. By Seller Due to Breach of Representation or Warranty.
         The Seller may terminate this Agreement by giving written notice to the
         Purchaser at any time before the Closing if the Purchaser has breached
         any representation, warranty or covenant contained in this Agreement in
         any material respect.

                  12.1.6. By Seller Due to Failure to Close Before December __
         1998. The seller may terminate this Agreement by giving written notice
         to the Purchaser if the Closing shall not have occurred on or before
         December __ 1998, by reason of the failure of any condition precedent
         under Section 10 hereof (unless the failure results primarily from the
         Seller itself breaching any representation, warranty, or covenant
         contained in this Agreement).

         12.2. Effect of Termination. If any Party terminates this Agreement
pursuant to Section 12.1 above, all rights and obligations of the Parties
hereunder shall terminate without any liability of any Party to any other Party;
provided, however, that a termination of this Agreement shall not relieve any
party hereto from any liability for damages incurred as a result of a breach by
such party of its representations, warranties, covenants, agreements or other
obligations hereunder occurring before such termination.

13. ACTIONS AT CLOSING

         13.1. Actions to be Taken by Seller at the Closing. Seller shall
deliver the items specified for delivery by Seller in Sections 11.1.1, 11.1.3,
11.1.4, 11.1.5, 11.1.6, 11.1.7 and 11.1.9 above, unless delivery has been waived
by Purchaser.

         13.2. Action to be Taken by Purchaser at the Closing. Purchaser will
take the following actions at the Closing:

                  13.2.1. Purchaser shall deliver the items specified for
         delivery by Purchaser in Sections 10.1.1, 10.1.4 and 10.1.5 above,
         unless delivery has been waived by Seller.

                  13.2.2. Purchaser shall pay the consideration specified for
         payment at Closing in Section 2.3 above.

14. MISCELLANEOUS

         14.1. Publicity. Seller and Purchaser shall consult in advance on the
form, timing and contents of any publicity, announcement or disclosure with
respect to the Acquisition, whether to the financial community, governmental
authorities, the public generally or otherwise. Seller and Purchaser shall
issue, at a mutually acceptable date, a joint press release announcing the
change in ownership of the Assets.

         14.2. Notices. Any notice or other communication required or permitted
hereunder shall be in writing and shall be addressed as follows and delivered
personally, sent by facsimile transmission or

                                       24

<PAGE>   26
sent by certified, registered or express mail, postage prepaid, or by a
nationally recognized overnight courier service marked for overnight delivery.
Any such notice shall be deemed received when so delivered personally; or when
sent by facsimile transmission (with immediate confirmation thereafter); or, if
mailed, upon receipt as confirmed by written receipt; or, if sent by overnight
courier marked for overnight delivery, upon receipt.

          If to Purchaser, to:          Brian Barber
                                        American Temporary Sanitation, Inc.
                                        17 Reardon Road
                                        Queensbury, NY 12804

          If to Seller, to:
                                        P.W. Stephens Residential, Inc.
                                        15201 Pipeline Lane, Suite B
                                        Huntington Beach, CA 92649

     Any of the entities referred to above may, by notice given in accordance
with this Section 14.3 to the other entities, designate another address or
person for receipt of notices hereunder.

     14.3. Assignment. This Agreement shall be binding upon and shall inure to
the benefit of, the parties hereto their respective successors and permitted
assigns. This Agreement may not be assigned or transferred in whole or in part
by either party hereto without the prior written consent of the other party, and
any attempt to assign or transfer this Agreement or any part of either in
violation of this Section 14.3 shall be void and of no effect.

     14.4. Expenses. Each of the parties hereto shall be responsible for and
shall pay all of its own expenses incurred in connection with this Agreement
and the transactions contemplated herein, including without limitation all
legal fees and other expenses incident to the negotiation, preparation and
execution of this Agreement.

     14.5. Controlling Law and Venue. This Agreement shall be governed by and
construed in accordance with the laws of the United States and the State of
California, without regard to the conflict of laws principles of that state or
any other jurisdiction. Judicial proceedings arising from or relating to this
Agreement shall only be instituted in the courts of the State of California and
the courts of the United States located in California. The Parties irrevocably
consent to the personal jurisdiction of the courts of State of California and
the Courts of the United States located in California and waive all defenses to
jurisdiction and objections to the propriety or convenience of these courts
that they may have.

     14.6. Entire Agreement. This Agreement, the exhibits and schedules hereto,
constitute the entire Agreement and understanding of the parties relating to
the subject matter hereof, and shall supersede all prior and contemporaneous
agreements and understandings, representations and

                                       25
<PAGE>   27
warranties, whether oral or written, relating to the subject matter hereof,
including without limitation any Letter of Intent that may have been entered
into by either Party or their agents.

         14.7. Modification, Waiver. No waiver, acquiescence or forbearance by
either party hereto of any breach or default this Agreement, and no course of
conduct or dealings between the parties that varies from the terms and
conditions of this Agreement, shall: (i) be deemed a waiver as to any subsequent
and/or similar breach or default by either Party; or, (ii) constitute or be
deemed a modification of this Agreement; or, (iii) affect the rights or
obligations of the Parties under this Agreement in any way. This Agreement
cannot be modified except by a writing executed by both parties and this Section
4.8 cannot be orally modified or waived.

         14.8. Severability. If any term, provision, covenant or restrictions
of this Agreement is held by a court of competent jurisdiction to be invalid,
void or unenforceable, the remainder of the terms, provisions, covenants and
restrictions shall remain in full force and effect and shall in no way be
affected, impaired or invalidated. The Parties hereto stipulate and declare to
be their intention that they would have executed the remaining terms,
provisions, covenants and restrictions without including any of such that may
be hereafter declared invalid, void or unenforceable.

         14.9. Captions. Captions contained in this Agreement are solely for
convenient reference and shall not be deemed to affect the meaning or
interpretation of any article, section or paragraph hereof.

         14.10. Counterparts. Any number of counterparts of this Agreement may
be executed and each such counterpart shall be deemed to be an original
instrument, but all such counterparts together shall constitute but one
instrument.

         14.11. Headings. All headings in this Agreement, including the exhibits
and schedules, have been inserted for convenience only and shall not affect the
interpretation of any provision hereof.

         14.12. Mutual Negotiations. This Agreement, including the exhibits and
schedules, has been arrived at through the mutual negotiation of the parties.
Accordingly, no provision shall be construed against one party or in favor of
another party merely because one party or the other drafted the provision.

         14.13. IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed on the day and year first set forth above.

                                       "SELLER"
                                       P.W. STEPHENS, RESIDENTIAL, INC.

                                       By: /s/ [ILLEGIBLE]
                                          -------------------------------------
                                          Authorized Agent

                                       "BUYER"
                                       AMERICAN TEMPORARY SANITATION, INC.

                                       By: /s/ BRYAN R. BARBER, PRESIDENT
                                          -------------------------------------
                                          Authorized Agent

                                       26<PAGE>

                                                                  EXHIBIT 4.4

          NEITHER THESE WARRANTS NOR THE SHARES UNDERLYING THESE WARRANTS HAVE
          BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE LAWS OF ANY
          STATE. THEY MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESS THEY ARE
          REGISTERED UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR AN
          EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, THESE WARRANTS
          MAY NOT BE EXERCISED UNLESS THE SHARES UNDERLYING THE WARRANTS ARE
          REGISTERED UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR AN
          EXEMPTION FROM REGISTRATION IS AVAILABLE.

                                                                225,000 Warrants

                                 WORLDWIDE DATA, INC.

                                     CLASS B
                               WARRANT CERTIFICATE

          This warrant certificate ("Warrant Certificate") certifies that for
value received, JBS Holdings, Ltd. or registered assigns (the "Holder") is the
owner of the number of Class B warrants ("Warrants") specified above, each of
which entitles the Holder thereof to purchase, at any time after April 5, 1999
(the "Exercise Commencement Date") on or before the Expiration Date (hereinafter
defined) one fully paid and non-assessable share of Common Stock, $.001 par
value ("Common Stock"), of Worldwide Data, Inc., a Delaware corporation (the
"Company"), at a purchase price of $1.00 per share of Common Stock in lawful
money of the United States of America in cash or by certified or cashier's check
or a combination of cash and certified or cashier's check (subject to adjustment
as hereinafter provided).

     1.  Warrant; Purchase Price
         -----------------------

          Each Warrant shall entitle the Holder initially to purchase one share
of Common Stock of the Company and the purchase price payable upon exercise of
the Warrants (the "Purchase Price") shall initially be $1.00 per share of Common
Stock. The Purchase Price and number of shares of Common Stock
<PAGE>

issuable upon exercise of each Warrant are subject to adjustment as provided in
Article 6. The shares of Common Stock issuable upon exercise of the Warrants
(and/or other shares of Common Stock so issuable by reason of any adjustments
pursuant to Article 6) are sometimes referred to herein as the "Warrant Shares."

     2.  Exercise; Expiration Date
         -------------------------

           A. The Warrants are exercisable, at the option of the Holder, in
whole or in part at any time and from time to time after the Exercise
Commencement Date and on or before the Expiration Date, upon surrender of this
Warrant Certificate to the Company together with a duly completed Notice of
Exercise, in the form attached hereto as Exhibit A, and payment of an amount
                                         ---------
equal to the Purchase Price times the number of Warrants to be exercised. In the
case of exercise of less than all the Warrants represented by this Warrant
Certificate, the Company shall cancel the Warrant Certificate upon the surrender
thereof and shall execute and deliver a new Warrant Certificate for the balance
of such Warrants.

          B. The term "Expiration Date" shall mean 5:00 p.m. New York time on
April 5, 2001, or if such day shall in the State of New York be a holiday or a
day on which banks are authorized to close, then 5:00 p.m. Toronto time the next
following day which in Toronto, Canada is not a holiday or a day on which banks
are authorized to close.

     3.  Registration and Transfer on Company Books
         ------------------------------------------

          A.  The Company shall maintain books for the registration and transfer
of the Warrants and the registration and transfer of the Warrant Shares.

          B. Prior to due presentment for registration of transfer of this
Warrant Certificate, or the Warrant Shares, the Company may deem and treat the
registered Holder as the absolute owner thereof.

          C. The Company shall register upon its books any permitted transfer of
a Warrant Certificate, upon surrender of same to the Company with a written
instrument of transfer duly executed by the registered Holder or by a duly
authorized attorney. Upon any such registration of transfer, new Warrant
Certificate(s) shall be issued to the transferee(s) and the surrendered Warrant
Certificate shall be canceled by the Company. A Warrant Certificate may also be
exchanged, at the option of the Holder, for new Warrant Certificates of
different denominations
<PAGE>

representing in the aggregate the number of Warrants evidenced by the Warrant
Certificate surrendered.

     4.  Reservation of Shares
         ---------------------

          The Company covenants that it will at all times reserve and keep
available out of its authorized capital stock, solely for the purpose of issue
upon exercise of the Warrants, such number of shares as shall then be issuable
upon the exercise of all outstanding Warrants. The Company covenants that all
shares of capital stock which shall be issuable upon exercise of the Warrants
shall be duly and validly issued and fully paid and non-assessable and free from
all taxes, liens and charges with respect to the issue thereof, and that upon
issuance such shares shall be listed on each national securities exchange, if
any, on which the other shares of such outstanding capital stock of the Company
are then listed.

     5.  Loss or Mutilation
         ------------------

          Upon receipt by the Company of reasonable evidence of the ownership of
and the loss, theft, destruction or mutilation of any Warrant Certificate and,
in the case of loss, theft or destruction, of indemnity reasonably satisfactory
to the Company, or, in the case of mutilation, upon surrender and cancellation
of the mutilated Warrant Certificate, the Company shall execute and deliver in
lieu thereof a new Warrant Certificate representing an equal number of Warrants.

     6.   Adjustment of Purchase Price and Number of
          Shares Deliverable
          ------------------------------------------

          A. The number of Warrant Shares purchasable upon the exercise of each
Warrant and the Purchase Price with respect to the Warrant Shares shall be
subject to adjustment as follows:

               1. In case the Company shall (i) declare a dividend or make a
     distribution on its Common Stock payable in shares of its capital stock,
     (ii) subdivide its outstanding shares of Common Stock through stock split
     or otherwise, (iii) combine its outstanding shares of Common Stock into a
     smaller number of shares of Common Stock, or (iv) issue by reclassification
     of its Common Stock (including any such reclassification in connection with
     a consolidation or merger in which the Company is the continuing
     corporation) other securities of the Company, the number and/or nature of
     Warrant Shares purchasable upon exercise of each Warrant immediately prior
     thereto shall be adjusted so that the Holder shall be entitled to receive
     the kind and number of Warrant Shares or other securities of the
<PAGE>

     Company which he would have owned or have been entitled to receive after
     the happening of any of the events described above, had such Warrant been
     exercised immediately prior to the happening of such event or any record
     date with respect thereto. An adjustment made pursuant to this paragraph
     (a) shall become effective retroactively as of the record date of such
     event.

               2. In the event of any capital reorganization or any
     reclassification of the capital stock of the Company or in case of the
     consolidation or merger of the Company with another corporation (other than
     a consolidation or merger in which the outstanding shares of the Company's
     Common Stock are not converted into or exchanged for other rights or
     interests), or in the case of any sale, transfer or other disposition to
     another corporation of all or substantially all the properties and assets
     of the Company, the Holder of each Warrant shall thereafter be entitled to
     purchase (and it shall be a condition to the consummation of any such
     reorganization, reclassification, consolidation, merger, sale, transfer or
     other disposition that appropriate provisions shall be made so that such
     Holder shall thereafter be entitled to purchase) the kind and amount of
     shares of stock and other securities and property (including cash) which
     the Holder would have been entitled to receive had such Warrants been
     exercised immediately prior to the effective date of such reorganization,
     reclassification, consolidation, merger, sale, transfer or other
     disposition; and in any such case appropriate adjustments shall be made in
     the application of the provisions of this Article 6 with respect to rights
     and interest thereafter of the Holder of the Warrants to the end that the
     provisions of this Article 6 shall thereafter be applicable, as near as
     reasonably may be, in relation to any shares or other property thereafter
     purchasable upon the exercise of the Warrants. The provisions of this
     Section 6(A)(2) shall similarly apply to successive reorganizations,
     reclassifications, consolidations, mergers, sales, transfers or other
     dispositions.

               3. Whenever the number of Warrant Shares purchasable upon the
     exercise of each Warrant is adjusted, as provided in this Section 6(A), the
     Purchase Price with respect to the Warrant Shares shall be adjusted by
     multiplying such Purchase Price immediately prior to such adjustment by a
     fraction, of which the numerator shall be the number of Warrant Shares
     purchasable upon the exercise of each Warrant immediately prior to such
     adjustment, and of which the denominator shall be the number of Warrant
     Shares so purchasable immediately thereafter.
<PAGE>

          B. No adjustment in the number of Warrant Shares purchasable under the
Warrants, or in the Purchase Price with respect to the Warrant Shares, shall be
required unless such adjustment would require an increase or decrease of at
least 1% in the number of Warrant Shares issuable upon the exercise of such
Warrant, or in the Purchase Price thereof; provided, however, that any
adjustments which by reason of this Section 6(B) are not required to be made
shall be carried forward and taken into account in any subsequent adjustment.

          C. Whenever the number of Warrant Shares purchasable upon the exercise
of each Warrant or the Purchase Price of such Warrant Shares is adjusted, as
herein provided, the Company shall mail to the Holder, at the address of the
Holder shown on the books of the Company, a notice of such adjustment or
adjustments, prepared and signed by an officer of the Company, which sets forth
the number of Warrant Shares purchasable upon the exercise of each Warrant and
the Purchase Price of such Warrant Shares after such adjustment, and a brief
statement of the facts requiring such adjustment.

          D. The form of Warrant Certificate need not be changed because of any
change in the Purchase Price, the number of Warrant Shares issuable upon the
exercise of a Warrant or the number of Warrants outstanding pursuant to this
Section 6, and Warrant Certificates issued before or after such change may state
the same Purchase Price, the same number of Warrants, and the same number of
Warrant Shares issuable upon exercise of Warrants as are stated in the Warrant
Certificates theretofore issued pursuant to this Agreement. The Company may,
however, at any time, in its sole discretion, make any change in the form of
Warrant Certificate that it may deem appropriate and that does not affect the
substance thereof, and any Warrant Certificates thereafter issued or
countersigned, whether in exchange or substitution for an outstanding Warrant
Certificate or otherwise, may be in the form as so changed.

     7.  Voluntary Adjustment by the Company
         -----------------------------------

          The Company may, at its option, at any time during the term of the
Warrants, reduce the then current Purchase Price to any amount deemed
appropriate by the Board of Directors of the Company and/or extend the date of
the expiration of the Warrants; provided that in the event that the Company
reduces the Purchase Price for a specific period of time, it may return the
Purchase Price to the Purchase Price before the reduction.
<PAGE>

          IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to
be duly executed by its officers thereunto duly authorized as of this ____ day
of ___________, 1998.

                                    WORLDWIDE DATA, INC.

                                    By:  ________________________
                                         Name:  Bronson B. Conrad
                                         Title:  President

114193
<PAGE>

                        EXHIBIT A TO WARRANT CERTIFICATE

                               NOTICE OF EXERCISE

          The undersigned hereby irrevocably elects to exercise, pursuant to
Section 2 of the Warrant Certificate accompanying this Notice of Exercise,
_______ Warrants of the total number of Warrants owned by the undersigned
pursuant to the accompanying Warrant Certificate, and herewith makes payment of
the Purchase Price of such shares in full.

                                    Name of Holder

                                    Signature

                                    Address:

114193

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