Document:

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                            STOCK PURCHASE AGREEMENT

THIS COMMON STOCK PURCHASE AGREEMENT (the "Agreement") is made as of January 31,
2002, by and between Russell Whitney and Ingrid Whitney, as tenants by the
entireties ("Seller") and Whitney Information Network, Inc., a Colorado
corporation (the "Buyer").

     A. Seller is the owner of one hundred (100) shares of common stock (the
     "Shares") of Whitney Leadership Group, Inc. (the "Company").

     B. Seller desires to sell and Buyer desires to purchase all of the Shares
     now owned by Seller on the terms and subject to the conditions set forth in
     this Agreement.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties agree as follows:

1.   Purchase and Sale of Common Stock

1.1  Purchase Price

     Seller shall sell to Buyer and Buyer shall purchase from Seller the Shares
     for the purchase price of one million two hundred thousand dollars
     ($1,200,000.00) payable as set forth below.

1.2  Payment of Purchase Price

     On the Closing Date as defined herein, Buyer shall deliver to the Seller
     three hundred thousand dollars ($300,000.00) in the form of a commercial
     bank check or wire transfer and a promissory note in the form of Exhibit
     "A" attached hereto in the principal amount of nine hundred thousand
     dollars ($900,000.00), payable in three (6) semi-annual installments of one
     hundred fifty thousand dollars ($150,000.00) due and payable on each
     February 28/th/ and August 28/th/ beginning February 28, 2004 until paid
     with interest at 7%.

2.   Closing

     The closing of the transaction (the "Closing") provided for herein shall
     take place on or before April 15, 2003 at the offices of the Company or at
     such other place or time agreed upon by Buyer and Seller (the "Closing
     Date").

2.1  Documents Delivered By Seller

     Subject to the terms and conditions hereof, on the Closing Date, Seller
     shall deliver to Buyer the following documents and instruments: (i) stock
     certificates evidencing the shares, with the assignments endorsed thereon
     or with an executed assignment separate from the certificate; and (ii) one
     (1) original resolution of the board of directors of the Company
     acknowledging the sale of the Shares and approving any other documents to
     be executed by the Company;

2.2  Documents Delivered by Buyer

     Subject to the terms and conditions hereof on the Closing Date, Buyer shall
     deliver

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     to Seller the following documents and instruments: (i) bank check or wire
     transfer in the amount of three hundred thousand dollars ($300,000.00) and
     a promissory note in the principal amount of nine hundred thousand dollars
     ($900,000.00).

3.   Buyers' Conditions Precedent to Closing

     All of the obligations of the Buyer under this Agreement are subject to the
     fulfillment at or before the Closing of each of the following conditions,
     any of which may be waived in writing by the Buyer.

3.1  Representations and Warranties

     The representations and warranties of the Seller contained herein shall be
     true and correct on and as of the Closing Date with the same effect as if
     made on and as of the Closing Date.

3.2  Performance

     The Seller shall have performed or fulfilled all agreements, obligations
     and conditions contained herein including but not limited to the execution
     of the documents set forth in Section 2.1 and shall have obtained all
     consents, waivers and approvals necessary to transfer the Shares and for
     Buyer to operate the business of the Company.

3.3  Buyer's Investigation

     Buyer's reasonable satisfaction with the results of Buyer's due diligence
     investigation including but not limited to

          (a) A satisfactory assessment of the business; competition and the
          market;

          (b) Buyer's satisfaction with the Financial Statements and other
          financial books and records of the Company;

          (c) Buyer's approval of the equipment, furniture, intellectual
          property and the Company's inventory (collectively referred to as the
          "Assets");

          (d) Buyer's satisfaction with the results of the investigation into
          any potential environmental or occupational, safety and health issues
          which may affect the viability of the Company; and

          (e) Buyer's satisfaction with the results of interviews with key
          employees, customers, suppliers and creditors of the Company which
          shall take place at time and place agreed upon by Buyer and Seller.

3.4  Approval of Contracts and Related Agreements

     The approval of Buyer and Buyer's professional advisors of all contracts,
     instruments and other documents arising out of or delivered pursuant to
     this Agreement and any agreement pending or continuing as of the Closing
     Date between the Company and third parties.

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3.5  Maintenance of Key Agreements

     The maintenance of all exclusive dealerships, distributorships,
     representation agreements, lease agreements, the bank credit line and other
     agreements, and other material agreements of the Company currently in
     effect or for the benefit of the Company, to the Company and/or Buyer
     following the Closing Date on substantially the same terms as are presently
     extended to the Seller and/or the Company.

3.6  Profit Sharing Plan

     The Seller shall have paid the total amount due to the Company's Profit
     Sharing Plan and Retirement Trust for each fiscal year since the plan and
     trust were adopted or shall have settled such obligation in a manner
     satisfactory to the Buyer.

3.7  Premises Lease

     The Company shall have maintained in good standing the terms of the lease
     to the property located at 1612 E. Cape Coral Parkway and 4818 Coronado
     Parkway, Cape Coral Florida (the "Premises Lease").

3.8  Material Deterioration

     There shall have been no Material Deterioration in the business, financial
     condition or operating results of the Company.

3.9  No Pending Litigation

     No material action, suit or proceeding shall be pending or threatened
     against he Company or the Seller which (in the case of a suit against the
     Seller) relates to this Agreement or the transactions contemplated hereby
     or which if decided unfavorably would adversely affect the right of Buyer
     to own and operate the Company or the value of the Company. Any action,
     suit or proceeding with an actual or potential claim of one thousand
     dollars ($1,000.00) or more or an estimated cost to defend of five hundred
     ($500.00) or more shall be deemed to be "material".

4.   Seller's Conditions Precedent to Closing

     The obligations of the Seller under this Agreement are subject to the
     fulfillment at or before the Closing of each of the following conditions,
     any of which may be waived in writing by the Seller.

4.1  Representations and Warranties

     The representations and warranties of Buyer contained in this Agreement
     shall be true and correct on and as of the Closing Date with the same
     effect as though said representations and warranties had been made on and
     as of the Closing Date.

4.2  Approval of Contracts and Related Agreements

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     The approval of Seller and Seller's professional advisors of all contracts,
     instruments and other documents, including but not limited to the
     Promissory Note, arising out of or delivered pursuant to this Agreement.

4.3  Performance

     The Buyer shall have performed or fulfilled all agreements, obligations and
     conditions contained herein and shall have obtained all consents, waivers
     and approvals necessary to transfer the Shares to Buyer.

4.4  Seller's Satisfaction with Buyer's Financial Status

     Seller's satisfaction with the most recent financial statements, credit
     reports, and business and personal references, provided by Buyer.

5.   Seller's Representation and Warranties

     Seller hereby represents and warrants to Buyer as follows.

5.1  Seller's Title

     Seller has and as of the Closing Date shall have good and marketable title
     to the Shares free and clear of all liens, security interests, claims,
     options, charges or encumbrances. None of the Shares are subject to any
     outstanding agreements of sale or rights of third parties to acquire any
     interest therein. The Shares constitute all of the capital stock of the
     Company owned by the Seller. Seller has the right and authority to execute,
     deliver, and perform this Agreement and all agreements delivered in
     connection herewith (the "Related Agreements") and to sell and transfer the
     Shares to Buyer. To Seller's knowledge, this Agreement, and all Related
     Agreements, constitutes legal, binding and valid obligations of the Seller,
     enforceable in accordance with their respective terms.

5.2  Corporate Organization and Authority

     The Company:

          (a) Is a corporation duly organized, validly existing, authorized to
          exercise all of its corporate powers, rights and privileges, and in
          good standing in the State of Florida;

          (b) Has the corporate power and corporate authority to own and operate
          its properties and to carry on its business as now conducted; and

          (c) Is qualified as a foreign corporation in all jurisdictions in
          which such qualification is required.

5.3  Capitalization

     Immediately prior to the Closing, the authorized capital of the Company
     shall consist of one hundred (100) shares of common stock of which one
     hundred (100) shares are duly and validly issued (including, without
     limitation, issued to Seller's knowledge in compliance with applicable
     federal and state securities laws), fully-

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     paid non-assessable, outstanding and held by the Seller. There are no
     outstanding warrants, options, conversion privileges, preemptive rights,
     voting agreements or similar arrangements, or other rights or agreements to
     purchase or otherwise acquire or issue any equity securities of the
     Company.

5.4  Subsidiaries

     The Company does not currently own, have any investment in, or control,
     directly or indirectly, any subsidiaries, associations or other business
     entities. The Company is not a participant in any joint venture or
     partnership.

5.5  No Conflict with Other Instruments

     The execution, delivery and performance of this Agreement and the Related
     Agreements will not result in any material violation of, be in conflict
     with, or constitute a default under, with or without the passage of time or
     the giving of notice: (i) any provision of the Company's Articles of
     Incorporation or Bylaws; (ii) any provision of any judgment, decree or
     order to which the Company or Seller is party or by which it is bound;
     (iii) any material contract, obligation or commitment to which the Company
     or Seller is a party or by which either of them is bound; or (iv) to
     Seller's knowledge, any statute, rule or governmental regulation applicable
     to Seller or the Company.

5.6  Financial Statements and Business Plan

     Seller has delivered to Buyer (i) the Company's unaudited balance sheet at
     September 30, 2002 (the "Balance Sheet") (ii) the Company's year-to-date
     income statement of December 31, 2002 and (iii) the Company's unaudited
     financial statements for the years ended September 30, 2001 and September
     30, 2000 (collectively, the "Financial Statements"). The Financial
     Statements (attached hereto as Exhibit "B" and incorporated herein by
     reference) are substantially in accordance with the Company's books and
     records, complete and accurate in all material respects and to Seller's
     knowledge prepared in accordance with generally accepted accounting
     principles and fairly present the financial condition of and operating
     results of the Company during the period indicated therein.

5.7  Changes

     Since the Balance Sheet Date and prior to Closing, there has not been:

          (a) Any change in the assets, liabilities, financial condition, or
          operations of the Company except changes in the ordinary course of
          business which have not been, either in any case or in the aggregate,
          materially adverse;

          (b) Any damage, destruction, or loss, whether or not covered by
          insurance, materially and adversely affecting the properties or
          business of the Company;

          (c) Any waiver or compromise by the Company of a valuable right or of
          any debt owed to it;

          (d) Any loans made by the Company to its employees, officers or
          directors

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           other than travel or like advances made in the ordinary course of
           business not in excess of one hundred dollars ($1000.00);

           (e) Any declaration or payment of any dividend or other distribution
           by the Company or any repurchase or redemption of the Company's
           capital stock;

           (f) Any cancellation of any material purchase order or contract or
           any write-off as uncollectible two thousand dollars ($2,000.00) or
           greater; or

           (g) Any Material Deterioration or any other event or condition of any
           character which has materially and adversely affected the Company's
           business or prospects.

5.8    No Liabilities

       Except as have been incurred in the ordinary course of business since the
       Balance Sheet Date, the Company has no liabilities, obligations or
       commitments greater than five thousand dollars ($5,000.00), whether
       absolute or contingent and whether due or to become due other than as set
       forth in the Financial Statements.

5.9    Litigation

       There is as of the Closing no claim, action, lawsuit, proceeding or
       investigation pending or threatened against the Company, (or to the
       knowledge of the Seller, against any of its officers or directors) or any
       basis therefore known to the Seller, including, without limitation, that
       questions the validity of this Agreement or the right of the Seller to
       enter into this Agreement. There is no judgment, decree or order of any
       Court or any arbitration or governmental authority in effect against the
       Company or any of its properties and the Company is not in default with
       respect to any such judgment, decree or order to which the Company is a
       party or by which it is bound. There is no action, suit, proceeding or
       investigation by the Company currently pending or which the Company
       presently intends to initiate.

5.10   Title to Properties; Liens and Encumbrances

       Attached hereto as Exhibit "C" and incorporated herein by reference is a
       true and correct copy of all of the Assets currently owned by the Company
       (the "Assets"). The Company has good and marketable title to the Assets.
       The Company's assets include all assets tangible and intangible owned by
       the company subject to all liabilities owed by the company, including all
       of the rights, trademarks, copyrights, titles and licenses to use all of
       the infomercials, books, tapes, and CD's for all products and services
       presently sold by WEG, including any brand names and patents, including
       the rights to use the name Russ Whitney for all lawful, moral, and
       ethical purposes but not for any use prohibited by public policy, in
       which case, all rights revert back to the Seller. The Assets are not
       subject to any mortgage, pledge, lien, security interest, conditional
       sale agreement, option license, encumbrance or charge. The Company owns
       or leases all tangible assets necessary for the conduct of its business
       as currently conducted.

5.11   Condition of Assets

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       The Assets are currently in good operating condition and repair (subject
       to normal wear and tear) and are suitable for the purposes for which they
       are currently used. All current inventory of the Company is of
       merchantable quality and saleable in the ordinary course of the Company's
       business.

5.12   Patents and Other Proprietary Rights

       To the knowledge of the Seller: (i) the Company has sufficient title and
       ownership of all patents, trademarks, service marks, trade names,
       copyrights, trade secrets, information, proprietary rights and processes
       necessary for its business as now conducted, and as proposed to be
       conducted, and (ii) the use thereof does not, and will not, conflict with
       or constitute an infringement of the rights of others.

5.13   Taxes

       As of Closing, all federal, state, local, foreign, employment and
       property tax returns required to be filed by the Company have been filed,
       or if not yet filed have been granted extensions of the filing dates
       which extensions have not expired, and all taxes, assessments, fees and
       other governmental charges upon the Company, or upon any of its Assets or
       income (including all employment taxes) have been paid.

5.14   No Defaults, Violations or Conflicts

       The Company is not and as of the Closing shall not be in violation of any
       term or provision of its articles of incorporation, bylaws or any
       material term or provision of any indebtedness, mortgage, indenture,
       contract, agreement, judgment, or any decree or order.

5.15   Insurance

       The Company currently has in effect insurance including but not limited
       to workers' compensation insurance, covering risks associated with its
       business in such amounts as the Company believes are customary in its
       industry. The Seller is not aware of any pending or threatened claims
       against the Company for personal injuries, product liability or property
       damages

5.16   Employee Compensation Plans

       The Company is not party to, or bound by any currently effective
       employment contracts, deferred compensation agreements, bonus plans,
       incentive plans, profit sharing plans, retirement agreements or other
       employee compensation agreements. Subject to applicable law, the
       employment of each officer and employee of the Company is terminable at
       the will of the Company.

5.17   Accounts Receivable

       All accounts receivable of the Company reflected on the Balance Sheet are
       valid receivables subject to no material setoffs or counterclaims and are
       current and collectible (within ninety (90) days after the date on which
       it first became due and payable), net of the applicable reserve for bad
       debts reflected in the Balance Sheet. To Seller's knowledge, all accounts
       receivable reflected in the financial or

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       accounting records of the Company that have arisen since December 31,
       2002 are valid receivables subject to no material setoffs or
       counterclaims and are collectible, net of a reserve for bad debts in an
       amount proportionate to the reserve reflected in the Balance Sheet.

5.18   Product Warranty

       No product sold, leased or delivered by the Company prior to Closing is
       subject to any guaranty, warranty, right of return or other such
       indemnity beyond the manufacturer's warranty. The Company has no
       liability for product liability or product warranty claims with respect
       to sales of products or services prior to Closing (other than product
       warranty claims in the ordinary course of business) that would not have a
       material adverse effect on the Company or its financial condition.

5.19   Legal Compliance

       To Seller's knowledge, the Company, and the conduct and operations of its
       business, will be in substantial compliance with each law (including
       rules and regulations thereunder) of any federal, state, local or foreign
       government, or any governmental entity, which (a) affects or relates to
       this Agreement or the transactions contemplated hereby or (b) is
       applicable to the Company or business, except for any violation of or
       default under a law referred to above which reasonably may be expected
       not to have a material adverse effect on the assets, business financial
       condition or results of operations of the Company.

5.20   Permits

       Exhibit "D" sets forth a list of all material permits, licenses,
       registrations, certificates, orders or approvals from any governmental
       entity (including without limitation those issued or required under
       environmental laws and those relating to the occupancy or use of owned or
       leased real property) ("Permits") issued to or held by the Company and
       currently required for the operation of its business. Such listed Permits
       are the only Permits that are required for the conduct of the Company's
       business as currently conducted, except for those the absence of which
       would not have any material adverse effect on the Assets, business'
       financial condition, results of operations or future prospects of the
       Company. Each such Permit is in full force and effect and, to Seller's
       knowledge no suspension or cancellation of such Permit is threatened and
       the Seller believes that such Permit will be renewed upon expiration.

5.21   Brokers' Fees

       Neither the Seller nor the Company has any liability or obligation to pay
       any fees or commissions to any broker, finder or agent with respect to
       the transactions contemplated by this Agreement.

5.22   Books and Records

       As of Closing, the minute book and other similar records of the Company
       contain true and complete records of all actions taken at any meetings of
       the Company's

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       shareholders and Board of Directors, and of all written consents executed
       in lieu of the holding of any such meeting and the books and records of
       the Company accurately reflect in all material respects the assets,
       liabilities, business, financial condition and results of operations of
       the Company and have been maintained in accordance with good business and
       bookkeeping practices.

5.23   Customers and Suppliers

       No material supplier of the Company has indicated within the past year
       that it will stop, or materially decrease the rate of, supplying
       materials, products, or services to them and no material customer of the
       Company has indicated within the past year that it will stop, or
       materially decrease the rate of buying materials, products or services
       from it.

5.24   Employee Relations

       As of Closing, the Seller believes its relations with the Company's
       employees are satisfactory. The Company's employees are not represented
       by any labor unions nor, to the Seller's knowledge, is any union
       organization campaign in progress. The Seller is not aware that any of
       its officers or employees intend to terminate employment.

5.25   Environmental Regulations

       To Seller's knowledge, the Company has substantially met, and will
       continue through Closing, to substantially meet, all applicable United
       States local, state, federal and national environmental regulations and
       has disposed of its waste products and effluent and/or has caused others
       to dispose of such waste products and effluent, in accordance with all
       applicable United States local, state, federal and national environmental
       regulations and in such a manner that no harm has resulted or will result
       to any of its respective employees or properties or to any other person
       or entities or their properties.

5.25   Full Disclosure

       The representations and warranties of the parties contained in this
       Agreement, the other provisions of this Agreement and all other documents
       delivered to one another in connection with the purchase and sale of the
       Shares when read together, do not contain and will not contain any untrue
       statement of a material fact or omit any material fact necessary to make
       the statements contained therein or herein in view of the circumstances
       under which they were made not misleading.

6.     Representations and Warranties of Buyer

       Buyer represents and warrants to the Company as follows.

6.1    Authorization

       This Agreement and all the Related Agreements constitute the legally
       binding and valid obligations of Buyer, enforceable in accordance with
       their respective terms. Buyer has the right and authority to execute,
       deliver and perform this Agreement

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       and all of the Related Agreements and to purchase the Shares from the
       Seller.

6.2    Broker's Fees

       Buyer has no liability or obligation to pay any fees or commissions to
       any broker, finder or agent with respect to the transactions contemplated
       by this Agreement.

7.     Covenants

7.1    Best Efforts

       Each of the parties shall use its best efforts, to the extent
       commercially reasonable, to take all action and to do all things
       necessary, proper or advisable including but not limited to obtaining all
       such waivers, permits, consents, approvals or other authorizations from
       third parties and governmental entities, as may be necessary or desirable
       in connection with the transactions contemplated by this Agreement.

7.3    Confidentiality

       Prior to the Closing Date (or at any time if the Closing does not occur)
       Buyer shall keep confidential and not disclose to any Person (other than
       its employees, attorneys, accountants and advisors) or use (except in
       connection with the transactions contemplated hereby) all non-public
       information obtained by Buyer pursuant to this Agreement. Following the
       Closing, Seller shall keep confidential and not disclose to any Person
       (other than its employees, attorneys, accountants and advisors) or use
       (except in connection with preparing Tax Returns and conducting proceeds
       relating to Taxes) any nonpublic information relating to the Company and
       its Subsidiaries. This Section 7.3 shall not be violated by disclosure
       pursuant to court order or as otherwise required by law, on condition
       that notice of the requirement for such disclosure is given the other
       party prior to making any disclosure and the party subject to such
       requirement cooperates as the other may reasonably request in resisting
       it. If the Closing does not occur, Buyer shall return to Seller, or
       destroy, all information it shall have received from Seller or Company in
       connection with this Agreement and the transactions contemplated hereby,
       together with any copies or summaries thereof or extracts therefrom.
       Seller and Buyer shall use their best efforts to cause their respective
       representatives, employees, attorneys, accountants and advisors to whom
       information is disclosed pursuant to this Agreement to comply with the
       provisions of this Section 7.3.

8.     Indemnification

8.1    Indemnification by Seller

       Seller shall indemnify the Company and Buyer in respect of, and hold the
       Company and Buyer harmless against, any and all debts, obligations and
       other liabilities (whether absolute, accrued, contingent, fixed or
       otherwise, or whether known or unknown, or due or to become due or
       otherwise), monetary damages, fines, fees, penalties, interest
       obligations, deficiencies, losses and expenses (including without
       limitation attorneys fees and litigation costs) incurred or suffered by
       the Company and Buyer:

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           (a) Resulting from any misrepresentation, breach of warranty or
           failure to perform any covenant or agreement of the Seller contained
           in this Agreement;

           (b) Resulting from any income, franchise, employment, excess or
           property taxes owing or arising on account of or in connection with
           the operation of the Company prior to the Closing which taxes (if not
           previously paid) are not reflected on the Closing Balance Sheet; and

           (c) Resulting from any liability (other than the Assumed Liabilities)
           which are not reflected in the Closing Balance Sheet.

8.2    Indemnification by Buyer

       Buyer shall indemnify Seller in respect of and hold Seller harmless
       against any and all debts, obligations or other liabilities, monetary
       damages, fines, fees or penalty interest obligations, deficiencies,
       losses and expenses (including without limitation attorneys fees and
       litigation costs) incurred or suffered by the Seller arising out of
       Buyer's operation of the Company after the Closing Date.

8.3    Survival

       The representations, warranties, covenants and agreements of Buyer and
       Seller set forth in this Agreement shall survive the closing and
       consummation of the transactions contemplated hereby for a period of two
       (2) years from the Closing Date, except with respect to indemnification
       for tax liability which shall survive for the applicable statute of
       limitations and shall not be affected by any examination made for or on
       behalf of the Buyer or the knowledge of the Buyer. If a notice is given
       before expiration of such periods, then (notwithstanding the expiration
       of such time period) the representation, warranty, covenant or agreement
       applicable to such claim shall survive until, but only for purposes of,
       the resolution of such claims.

9.     Miscellaneous

9.1    Entire Agreement; Successors and Assigns

       This Agreement and the Related Agreements constitute the entire agreement
       between Seller and Buyer relative to the subject matter hereof. Any
       previous agreements between the parties are superseded by this Agreement
       and the Related Agreements. Subject to any exceptions specifically set
       forth in this Agreement, the terms and conditions of this Agreement shall
       inure to the benefit of and be binding upon the respective executors,
       administrators, heirs, successors and assigns of the parties.

9.2    Governing Law

       This Agreement shall be governed by and construed in accordance with the
       laws of the State of Florida.

9.3    Counterparts

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

9.4    Headings

       The headings of the Sections of this Agreement are for convenience and
       shall not by themselves determine the interpretation of this Agreement.

9.5    Notices

       Any notice required or permitted hereunder shall be given in writing and
       shall be conclusively deemed effectively given upon personal delivery, or
       two days after deposit in the United States mail, by registered or
       certified mail, postage prepaid, addressed (i) if to the Seller, as set
       forth below the Seller's name on the signature page of this Agreement,
       and (ii) if to a Buyer, at such Buyer's address as set forth on the
       signature page or at such other address as the Seller or such Buyer may
       designate by five days' advance written notice to the Buyer or the
       Seller, respectively.

9.6    Amendment of Agreement

       Except as expressly provided herein, neither this Agreement nor any term
       hereof may be amended, waived, discharged or terminated other than by
       written instrument signed by the party against whom enforcement of any
       such amendment, waiver, discharge or termination is sought.

9.7    Parties in Interest

       Nothing in this Agreement, whether express or implied, is intended to
       confer any rights or remedies under or by reason of this Agreement on any
       persons other than the parties to it and their respective successors and
       assigns, nor is anything in this Agreement intended to relieve or
       discharge the obligation or liability of any third persons to any party
       of this Agreement, nor shall any provision give any third persons any
       right of subrogation or action over against any party to this Agreement

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

SELLER                                       BUYER
Russell and Ingrid Whitney,
As tenants by the entireties                 Whitney Information Network, Inc.
232 Bayshore Drive                           1612 E. Cape Coral Parkway
Cape Coral, FL 33904                         Cape Coral, FL 33904

_____________________________                ___________________________________
Russell A. Whitney                           By:  Ronald S. Simon, Secretary

_____________________________
Ingrid Whitney

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                            STOCK PURCHASE AGREEMENT

THIS COMMON STOCK PURCHASE AGREEMENT (the "Agreement") is made as of February
28, 2002, by and between John Kane and Deborah Kane ("Seller") and Whitney
Information Network, Inc., a Colorado corporation (the "Buyer").

     A. Seller is the owner of ten (10) shares of common stock (the "Shares") of
     Equitycorp Holdings, Inc. (the "Company").

     B. Seller desires to sell and Buyer desires to purchase all of the Shares
     now owned by Seller on the terms and subject to the conditions set forth in
     this Agreement.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties agree as follows:

1.   Purchase and Sale of Common Stock

1.1  Purchase Price

     Seller shall sell to Buyer and Buyer shall purchase from Seller the Shares
     for the purchase price of two hundred fifty thousand dollars ($250,000.00)
     payable as set forth below.

1.2  Payment of Purchase Price

     On the Closing Date as defined herein, Buyer shall deliver to the Seller
     (1) sixty-two thousand five hundred dollars ($62,500.00) in the form of a
     commercial bank check or wire transfer, (2) sixty-two thousand five hundred
     shares of Whitney Information Network, Inc.'s common stock, and (3) a
     promissory note in the form of Exhibit "A" attached hereto in the principal
     amount of sixty-two thousand five hundred dollars ($62,500.00) at an annual
     interest rate of seven percent (7%), due and payable on February, 2004.

2.   Closing

     The closing of the transaction (the "Closing") provided for herein shall
     take place on or before February 28, 2003 at the offices of the Company or
     at such other place or time agreed upon by Buyer and Seller (the "Closing
     Date").

2.1  Documents Delivered By Seller

     Subject to the terms and conditions hereof, on the Closing Date, Seller
     shall deliver to Buyer the following documents and instruments: (1) stock
     certificates evidencing the shares, with the assignments endorsed thereon
     or with an executed assignment separate from the certificate; and (2) one
     original resolution of the board of directors of the Company acknowledging
     the sale of the Shares and approving any other documents to be executed by
     the Company;

2.2  Documents Delivered by Buyer

     Subject to the terms and conditions hereof on the Closing Date, Buyer shall
     deliver to Seller the following documents and instruments: (1) bank check
     or wire transfer

<PAGE>

     in the amount of sixty-two thousand five hundred dollars ($62,500.00), (2)
     sixty-two thousand five hundred shares of Whitney Information Network,
     Inc.'s common stock issued to John Kane and Deborah Kane, and (3) a
     promissory note in the principal amount of sixty-two thousand five hundred
     dollars ($62,500.00).

3.   Buyers' Conditions Precedent to Closing

     All of the obligations of the Buyer under this Agreement are subject to the
     fulfillment at or before the Closing of each of the following conditions,
     any of which may be waived in writing by the Buyer.

3.1  Representations and Warranties

     The representations and warranties of the Seller contained herein shall be
     true and correct on and as of the Closing Date with the same effect as if
     made on and as of the Closing Date.

3.2  Performance

     The Seller shall have performed or fulfilled all agreements, obligations
     and conditions contained herein including but not limited to the execution
     of the documents set forth in Section 2.1 and shall have obtained all
     consents, waivers and approvals necessary to transfer the Shares and for
     Buyer to operate the business of the Company.

3.3  Buyer's Investigation

     Buyer's reasonable satisfaction with the results of Buyer's due diligence
     investigation including but not limited to

          (a) A satisfactory assessment of the business; competition and the
          market;

          (b) Buyer's satisfaction with the Financial Statements and other
          financial books and records of the Company;

          (c) Buyer's approval of the equipment, furniture, intellectual
          property and the Company's inventory (collectively referred to as the
          "Assets");

          (d) Buyer's satisfaction with the results of the investigation into
          any potential environmental or occupational, safety and health issues
          which may affect the viability of the Company; and

          (e) Buyer's satisfaction with the results of interviews with key
          employees, customers, suppliers and creditors of the Company which
          shall take place at time and place agreed upon by Buyer and Seller.

3.4  Approval of Contracts and Related Agreements

     The approval of Buyer and Buyer's professional advisors of all contracts,
     instruments and other documents arising out of or delivered pursuant to
     this Agreement and any agreement pending or continuing as of the Closing
     Date between the Company and third parties.

                                        2

<PAGE>

3.5  Maintenance of Key Agreements

     The maintenance of all exclusive dealerships, distributorships,
     representation agreements, lease agreements, all bank agreements, and other
     material agreements of the Company currently in effect or for the benefit
     of the Company, to the Company and/or Buyer following the Closing Date on
     substantially the same terms as are presently extended to the Seller and/or
     the Company.

3.6  Profit Sharing Plan

     The Seller shall have paid the total amount due to the Company's Profit
     Sharing Plan and Retirement Trust for each fiscal year since the plan and
     trust were adopted or shall have settled such obligation in a manner
     satisfactory to the Buyer.

3.7  Premises Lease

     The Company shall have maintained in good standing the terms of all the
     leases to the real property.

3.8  Material Deterioration

     There shall have been no Material Deterioration in the business, financial
     condition or operating results of the Company.

3.9  No Pending Litigation

     No material action, suit or proceeding shall be pending or threatened
     against he Company or the Seller which (in the case of a suit against the
     Seller) relates to this Agreement or the transactions contemplated hereby
     or which if decided unfavorably would adversely affect the right of Buyer
     to own and operate the Company or the value of the Company. Any action,
     suit or proceeding with an actual or potential claim of one thousand
     dollars ($1,000.00) or more or an estimated cost to defend of five hundred
     ($500.00) or more shall be deemed to be "material".

4.   Seller's Conditions Precedent to Closing

     The obligations of the Seller under this Agreement are subject to the
     fulfillment at or before the Closing of each of the following conditions,
     any of which may be waived in writing by the Seller.

4.1  Representations and Warranties

     The representations and warranties of Buyer contained in this Agreement
     shall be true and correct on and as of the Closing Date with the same
     effect as though said representations and warranties had been made on and
     as of the Closing Date.

4.2  Approval of Contracts and Related Agreements

     The approval of Seller and Seller's professional advisors of all contracts,
     instruments and other documents, including but not limited to the
     Promissory Note,

                                        3

<PAGE>

     arising out of or delivered pursuant to this Agreement.

4.3  Performance

     The Buyer shall have performed or fulfilled all agreements, obligations and
     conditions contained herein and shall have obtained all consents, waivers
     and approvals necessary to transfer the Shares to Buyer.

4.4  Seller's Satisfaction with Buyer's Financial Status

     Seller's satisfaction with the most recent financial statements, credit
     reports, and business and personal references, provided by Buyer.

5.   Seller's Representation and Warranties

     Seller hereby represents and warrants to Buyer as follows.

5.1  Seller's Title

     Seller has and as of the Closing Date shall have good and marketable title
     to the Shares free and clear of all liens, security interests, claims,
     options, charges or encumbrances. None of the Shares are subject to any
     outstanding agreements of sale or rights of third parties to acquire any
     interest therein. The Shares constitute all of the capital stock of the
     Company owned by the Seller. Seller has the right and authority to execute,
     deliver, and perform this Agreement and all agreements delivered in
     connection herewith (the "Related Agreements") and to sell and transfer the
     Shares to Buyer. To Seller's knowledge, this Agreement, and all Related
     Agreements, constitutes legal, binding and valid obligations of the Seller,
     enforceable in accordance with their respective terms.

5.2  Corporate Organization and Authority

     The Company:

          (a) Is a corporation duly organized, validly existing, authorized to
          exercise all of its corporate powers, rights and privileges, and in
          good standing in the State of Florida;

          (b) Has the corporate power and corporate authority to own and operate
          its properties and to carry on its business as now conducted; and

          (c) Is qualified as a foreign corporation in all jurisdictions in
          which such qualification is required.

5.3  Capitalization

     Immediately prior to the Closing, the authorized capital of the Company
     shall consist of one hundred (100) shares of common stock of which one
     hundred (100) shares are duly and validly issued (including, without
     limitation, issued to Seller's knowledge in compliance with applicable
     federal and state securities laws), fully-paid non-assessable, outstanding
     and held by the Seller. There are no outstanding warrants, options,
     conversion privileges, preemptive rights, voting agreements or

                                        4

<PAGE>

       similar arrangements, or other rights or agreements to purchase or
       otherwise acquire or issue any equity securities of the Company.

5.4    Subsidiaries

       The Company does not currently own, have any investment in, or control,
       directly or indirectly, any subsidiaries, associations or other business
       entities. The Company is not a participant in any joint venture or
       partnership.

5.5    No Conflict with Other Instruments

       The execution, delivery and performance of this Agreement and the Related
       Agreements will not result in any material violation of, be in conflict
       with, or constitute a default under, with or without the passage of time
       or the giving of notice: (i) any provision of the Company's Articles of
       Incorporation or Bylaws; (ii) any provision of any judgment, decree or
       order to which the Company or Seller is party or by which it is bound;
       (iii) any material contract, obligation or commitment to which the
       Company or Seller is a party or by which either of them is bound; or (iv)
       to Seller's knowledge, any statute, rule or governmental regulation
       applicable to Seller or the Company.

5.6    Financial Statements and Business Plan

       Seller has delivered to Buyer (i) the Company's unaudited balance sheet
       at December 31, 2002 ("Balance Sheet") (ii) the Company's year-to-date
       income statement of December 31, 2002 and (iii) the Company's unaudited
       financial statements for the years ended December 31, 2001 and December
       31, 2000 (collectively, the "Financial Statements"). The Financial
       Statements (attached hereto as Exhibit "B" and incorporated herein by
       reference) are substantially in accordance with the Company's books and
       records, complete and accurate in all material respects and to Seller's
       knowledge prepared in accordance with generally accepted accounting
       principles and fairly present the financial condition of and operating
       results of the Company during the period indicated therein.

5.7    Changes

       Since the Balance Sheet Date and prior to Closing, there has not been:

           (a) Any change in the assets, liabilities, financial condition, or
           operations of the Company except changes in the ordinary course of
           business which have not been, either in any case or in the aggregate,
           materially adverse;

           (b) Any damage, destruction, or loss, whether or not covered by
           insurance, materially and adversely affecting the properties or
           business of the Company;

           (c) Any waiver or compromise by the Company of a valuable right or of
           any debt owed to it;

           (d) Any loans made by the Company to its employees, officers or
           directors other than travel or like advances made in the ordinary
           course of business not in excess of one hundred dollars ($1000.00);

                                       5

<PAGE>

           (e) Any declaration or payment of any dividend or other distribution
           by the Company or any repurchase or redemption of the Company's
           capital stock;

           (f) Any cancellation of any material purchase order or contract or
           any write-off as uncollectible in the amount of two thousand dollars
           ($2,000.00) or greater; or

           (g) Any Material Deterioration or any other event or condition of any
           character which has materially and adversely affected the Company's
           business or prospects.

5.8    No Liabilities

       Except as have been incurred in the ordinary course of business since the
       Balance Sheet Date, the Company has no liabilities, obligations or
       commitments greater than five thousand dollars ($5,000.00), whether
       absolute or contingent and whether due or to become due other than as set
       forth in the Financial Statements, with the exception of a Promissory
       Note to Russ Whitney and Ingrid Whitney in the original amount of four
       million seven hundred fifty thousand dollars ($4,750,000.00).

5.9    Litigation

       There is as of the Closing no claim, action, lawsuit, proceeding or
       investigation pending or threatened against the Company, (or to the
       knowledge of the Seller, against any of its officers or directors) or any
       basis therefore known to the Seller, including, without limitation, that
       questions the validity of this Agreement or the right of the Seller to
       enter into this Agreement. There is no judgment, decree or order of any
       Court or any arbitration or governmental authority in effect against the
       Company or any of its properties and the Company is not in default with
       respect to any such judgment, decree or order to which the Company is a
       party or by which it is bound. There is no action, suit, proceeding or
       investigation by the Company currently pending or which the Company
       presently intends to initiate.

5.10   Title to Properties; Liens and Encumbrances

       Attached hereto as Exhibit "C" and incorporated herein by reference is a
       true and correct copy of all of the Assets currently owned by the Company
       (the "Assets"). The Company has good and marketable title to the Assets.
       The Assets are not subject to any mortgage, pledge, lien, security
       interest, conditional sale agreement, option license, encumbrance or
       charge. The Company owns or leases all tangible assets necessary for the
       conduct of its business as currently conducted.

5.11   Condition of Assets

       The Assets are currently in good operating condition and repair (subject
       to normal wear and tear) and are suitable for the purposes for which they
       are currently used. All current inventory of the Company is of
       merchantable quality and saleable in the ordinary course of the Company's
       business.

5.12   Patents and Other Proprietary Rights

       To the knowledge of the Seller: (i) the Company has sufficient title and
       ownership

                                       6

<PAGE>

       of all patents, trademarks, service marks, trade names, copyrights, trade
       secrets, information, proprietary rights and processes necessary for its
       business as now conducted, and as proposed to be conducted, and (ii) the
       use thereof does not, and will not, conflict with or constitute an
       infringement of the rights of others.

5.13   Taxes

       As of Closing, all federal, state, local, foreign, employment and
       property tax returns required to be filed by the Company have been filed,
       or if not yet filed have been granted extensions of the filing dates
       which extensions have not expired, and all taxes, assessments, fees and
       other governmental charges upon the Company, or upon any of its Assets or
       income (including all employment taxes) have been paid.

5.14   No Defaults, Violations or Conflicts

       The Company is not and as of the Closing shall not be in violation of any
       term or provision of its articles of incorporation, bylaws or any
       material term or provision of any indebtedness, mortgage, indenture,
       contract, agreement, judgment, or any decree or order.

5.15   Insurance

       The Company currently has in effect insurance including but not limited
       to workers' compensation insurance, covering risks associated with its
       business in such amounts as the Company believes are customary in its
       industry. The Seller is not aware of any pending or threatened claims
       against the Company for personal injuries, product liability or property
       damages

5.16   Employee Compensation Plans

       The Company is not party to, or bound by any currently effective
       employment contracts, deferred compensation agreements, bonus plans,
       incentive plans, profit sharing plans, retirement agreements or other
       employee compensation agreements. Subject to applicable law, the
       employment of each officer and employee of the Company is terminable at
       the will of the Company.

5.17   Accounts Receivable

       All accounts receivable of the Company reflected on the Balance Sheet are
       valid receivables subject to no material setoffs or counterclaims and are
       current and collectible (within ninety (90) days after the date on which
       it first became due and payable), net of the applicable reserve for bad
       debts reflected in the Balance Sheet. To Seller's knowledge, all accounts
       receivable reflected in the financial or accounting records of the
       Company that have arisen since December 31, 2002 are valid receivables
       subject to no material setoffs or counterclaims and are collectible, net
       of a reserve for bad debts in an amount proportionate to the reserve
       reflected in the Balance Sheet.

5.18   Product Warranty

       No product sold, leased or delivered by the Company prior to Closing is
       subject to

                                       7

<PAGE>

       any guaranty, warranty, right of return or other such indemnity beyond
       the manufacturer's warranty. The Company has no liability for product
       liability or product warranty claims with respect to sales of products or
       services prior to Closing (other than product warranty claims in the
       ordinary course of business) that would not have a material adverse
       effect on the Company or its financial condition.

5.19   Legal Compliance

       To Seller's knowledge, the Company, and the conduct and operations of its
       business, will be in substantial compliance with each law (including
       rules and regulations thereunder) of any federal, state, local or foreign
       government, or any governmental entity, which (a) affects or relates to
       this Agreement or the transactions contemplated hereby or (b) is
       applicable to the Company or business, except for any violation of or
       default under a law referred to above which reasonably may be expected
       not to have a material adverse effect on the assets, business financial
       condition or results of operations of the Company.

5.20   Permits

       Exhibit "D" sets forth a list of all material permits, licenses,
       registrations, certificates, orders or approvals from any governmental
       entity (including without limitation those issued or required under
       environmental laws and those relating to the occupancy or use of owned or
       leased real property) ("Permits") issued to or held by the Company and
       currently required for the operation of its business. Such listed Permits
       are the only Permits that are required for the conduct of the Company's
       business as currently conducted, except for those the absence of which
       would not have any material adverse effect on the Assets, business'
       financial condition, results of operations or future prospects of the
       Company. Each such Permit is in full force and effect and, to Seller's
       knowledge no suspension or cancellation of such Permit is threatened and
       the Seller believes that such Permit will be renewed upon expiration.

5.21   Brokers' Fees

       Neither the Seller nor the Company has any liability or obligation to pay
       any fees or commissions to any broker, finder or agent with respect to
       the transactions contemplated by this Agreement.

5.22   Books and Records

       As of Closing, the minute book and other similar records of the Company
       contain true and complete records of all actions taken at any meetings of
       the Company's shareholders and Board of Directors, and of all written
       consents executed in lieu of the holding of any such meeting and the
       books and records of the Company accurately reflect in all material
       respects the assets, liabilities, business, financial condition and
       results of operations of the Company and have been maintained in
       accordance with good business and bookkeeping practices.

                                       8

<PAGE>

5.23   Customers and Suppliers

       No material supplier of the Company has indicated within the past year
       that it will stop, or materially decrease the rate of, supplying
       materials, products, or services to them and no material customer of the
       Company has indicated within the past year that it will stop, or
       materially decrease the rate of buying materials, products or services
       from it.

5.24   Employee Relations

       As of Closing, the Seller believes its relations with the Company's
       employees are satisfactory. The Company's employees are not represented
       by any labor unions nor, to the Seller's knowledge, is any union
       organization campaign in progress. The Seller is not aware that any of
       its officers or employees intends to terminate employment.

5.25   Environmental Regulations

       To Seller's knowledge, the Company has substantially met, and will
       continue through Closing, to substantially meet, all applicable United
       States local, state, federal and national environmental regulations and
       has disposed of its waste products and effluent and/or has caused others
       to dispose of such waste products and effluent, in accordance with all
       applicable United States local, state, federal and national environmental
       regulations and in such a manner that no harm has resulted or will result
       to any of its respective employees or properties or to any other person
       or entities or their properties.

5.26   Full Disclosure

       The representations and warranties of the parties contained in this
       Agreement, the other provisions of this Agreement and all other documents
       delivered to one another in connection with the purchase and sale of the
       Shares when read together, do not contain and will not contain any untrue
       statement of a material fact or omit any material fact necessary to make
       the statements contained therein or herein in view of the circumstances
       under which they were made not misleading.

6.     Representations and Warranties of Buyer

       Buyer represents and warrants to the Company as follows.

6.1    Authorization

       This Agreement and all the Related Agreements constitute the legally
       binding and valid obligations of Buyer, enforceable in accordance with
       their respective terms. Buyer has the right and authority to execute,
       deliver and perform this Agreement and all of the Related Agreements and
       to purchase the Shares from the Seller.

6.2    Broker's Fees

       Buyer has no liability or obligation to pay any fees or commissions to
       any broker, finder or agent with respect to the transactions contemplated
       by this Agreement.

                                       9

<PAGE>

7.     Covenants

7.1    Best Efforts

       Each of the parties shall use its best efforts, to the extent
       commercially reasonable, to take all action and to do all things
       necessary, proper or advisable including but not limited to obtaining all
       such waivers, permits, consents, approvals or other authorizations from
       third parties and governmental entities, as may be necessary or desirable
       in connection with the transactions contemplated by this Agreement.

7.3    Confidentiality

       Prior to the Closing Date (or at any time if the Closing does not occur)
       Buyer shall keep confidential and not disclose to any Person (other than
       its employees, attorneys, accountants and advisors) or use (except in
       connection with the transactions contemplated hereby) all non-public
       information obtained by Buyer pursuant to this Agreement. Following the
       Closing, Seller shall keep confidential and not disclose to any Person
       (other than its employees, attorneys, accountants and advisors) or use
       (except in connection with preparing Tax Returns and conducting proceeds
       relating to Taxes) any nonpublic information relating to the Company and
       its Subsidiaries. This Section 7.3 shall not be violated by disclosure
       pursuant to court order or as otherwise required by law, on condition
       that notice of the requirement for such disclosure is given the other
       party prior to making any disclosure and the party subject to such
       requirement cooperates as the other may reasonably request in resisting
       it. If the Closing does not occur, Buyer shall return to Seller, or
       destroy, all information it shall have received from Seller or Company in
       connection with this Agreement and the transactions contemplated hereby,
       together with any copies or summaries thereof or extracts therefrom.
       Seller and Buyer shall use their best efforts to cause their respective
       representatives, employees, attorneys, accountants and advisors to whom
       information is disclosed pursuant to this Agreement to comply with the
       provisions of this Section 7.3.

8.     Indemnification

8.1    Indemnification by Seller

       Seller shall indemnify the Company and Buyer in respect of, and hold the
       Company and Buyer harmless against, any and all debts, obligations and
       other liabilities (whether absolute, accrued, contingent, fixed or
       otherwise, or whether known or unknown, or due or to become due or
       otherwise), monetary damages, fines, fees, penalties, interest
       obligations, deficiencies, losses and expenses (including without
       limitation attorneys fees and litigation costs) incurred or suffered by
       the Company and Buyer:

           (a) Resulting from any misrepresentation, breach of warranty or
           failure to perform any covenant or agreement of the Seller contained
           in this Agreement;

           (b) Resulting from any income, franchise, employment, excess or
           property taxes owing or arising on account of or in connection with
           the operation of the Company prior to the Closing which taxes (if not
           previously paid) are not

                                       10

<PAGE>

           reflected on the Closing Balance Sheet; and

           (c) Resulting from any liability (other than the Assumed Liabilities)
           which are not reflected in the Closing Balance Sheet.

8.2    Indemnification by Buyer

       Buyer shall indemnify Seller in respect of and hold Seller harmless
       against any and all debts, obligations or other liabilities, monetary
       damages, fines, fees or penalty interest obligations, deficiencies,
       losses and expenses (including without limitation attorneys fees and
       litigation costs) incurred or suffered by the Seller arising out of
       Buyer's operation of the Company after the Closing Date.

8.3    Survival

       The representations, warranties, covenants and agreements of Buyer and
       Seller set forth in this Agreement shall survive the closing and
       consummation of the transactions contemplated hereby for a period of two
       (2) years from the Closing Date, except with respect to indemnification
       for tax liability which shall survive for the applicable statute of
       limitations and shall not be affected by any examination made for or on
       behalf of the Buyer or the knowledge of the Buyer. If a notice is given
       before expiration of such periods, then (notwithstanding the expiration
       of such time period) the representation, warranty, covenant or agreement
       applicable to such claim shall survive until, but only for purposes of,
       the resolution of such claims.

9.     Miscellaneous

9.1    Entire Agreement; Successors and Assigns

       This Agreement and the Related Agreements constitute the entire agreement
       between Seller and Buyer relative to the subject matter hereof. Any
       previous agreements between the parties are superseded by this Agreement
       and the Related Agreements. Subject to any exceptions specifically set
       forth in this Agreement, the terms and conditions of this Agreement shall
       inure to the benefit of and be binding upon the respective executors,
       administrators, heirs, successors and assigns of the parties.

9.2    Governing Law

       This Agreement shall be governed by and construed in accordance with the
       laws of the State of Florida.

9.3    Counterparts

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

                                       11

<PAGE>

9.4    Headings

       The headings of the Sections of this Agreement are for convenience and
       shall not by themselves determine the interpretation of this Agreement.

9.5    Notices

       Any notice required or permitted hereunder shall be given in writing and
       shall be conclusively deemed effectively given upon personal delivery, or
       two days after deposit in the United States mail, by registered or
       certified mail, postage prepaid, addressed (i) if to the Seller, as set
       forth below the Seller's name on the signature page of this Agreement,
       and (ii) if to a Buyer, at such Buyer's address as set forth on the
       signature page or at such other address as the Seller or such Buyer may
       designate by five days' advance written notice to the Buyer or the
       Seller, respectively.

9.6    Amendment of Agreement

       Except as expressly provided herein, neither this Agreement nor any term
       hereof may be amended, waived, discharged or terminated other than by
       written instrument signed by the party against whom enforcement of any
       such amendment, waiver, discharge or termination is sought.

9.7    Parties in Interest

       Nothing in this Agreement, whether express or implied, is intended to
       confer any rights or remedies under or by reason of this Agreement on any
       persons other than the parties to it and their respective successors and
       assigns, nor is anything in this Agreement intended to relieve or
       discharge the obligation or liability of any third persons to any party
       of this Agreement, nor shall any provision give any third persons any
       right of subrogation or action over against any party to this Agreement

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

SELLER                                        BUYER
John Kane and Deborah Kane                    Whitney Information Network, Inc.
3638 SE 5/th/ Court                           1612 E. Cape Coral Parkway
Cape Coral, FL 33904                          Cape Coral, FL 33904

__________________________                    __________________________________
John Kane                                     By:  Ronald S. Simon, Secretary

__________________________
Deborah Kane

                                       12

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