Document:

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                           GENERAL SECURITY AGREEMENT

         THIS GENERAL SECURITY AGREEMENT is made as of August 30, 2002, by ADB
SYSTEMS INTERNATIONAL INC., an Ontario corporation, in favour of GREENWICH
GROWTH FUND LTD.

         FOR GOOD AND VALUABLE CONSIDERATION, the receipt and adequacy of which
are acknowledged by the Company, the Company agrees with the Investor as
follows:

1. DEFINITIONS. In this Agreement, unless defined elsewhere in this Agreement,
capitalized terms shall bear the meanings set out in Schedule "A".

2. GRANT OF SECURITY. As general and continuing collateral security for the due
payment and performance of the Indebtedness, the Company grants to the Investor
a security interest in the Collateral, mortgages and charges the Collateral in
favour of the Investor, and assigns the Collateral, in favour of the Investor.

3. ATTACHMENT. The Security Interests created in this Agreement are intended to
attach: (i) to existing Collateral when the Company signs this Agreement; and
(ii) to Collateral subsequently acquired by the Company immediately upon the
Company acquiring any rights in such Collateral.

4. LIMITATIONS ON GRANT OF SECURITY. The Security Interests created by this
Security Agreement do not extend to any Excluded Collateral. All Excluded
Collateral shall be held by the Company in trust for the Investor and, on the
exercise by the Investor of any of its rights under this Agreement following a
Default, will be assigned and otherwise dealt with by the Company as directed by
the Investor.

5. REPRESENTATIONS AND WARRANTIES. The Company represents and warrants to the
Investor that:

     (a)  Legal Name of Company. The name of the Company set out on the first
          page of this agreement is the full legal name of the Company set out
          in the Company's constating documents, as amended and in effect on the
          date hereof.

     (b)  Place of Business and Location of Records. The Company's chief
          executive office, the location of the office where it keeps its
          records respecting its accounts receivable, and all other places of
          Business of the Company are listed on Schedule "B" hereto.

     (c)  Title; No Other Security Interests. The Company owns (or, with respect
          to any leased or licensed property forming part of the Collateral,
          holds a valid leasehold or licensed interest in) the Collateral free
          and clear of any Security Interests, other than Permitted Security
          Interests.

     (d)  No Contravention of Other Obligations. The Company is duly
          incorporated and has the power and authority to grant to the Investor
          the Security Interests created by this Agreement and to execute and
          deliver and perform its obligations under this Agreement and such
          execution, delivery and performance does not contravene any of

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          the Company's constating documents or by-laws or to the best of its
          knowledge, any material agreements or instruments to which the Company
          is a party.

     (e)  Enforceability. This agreement is a legal, valid and binding
          obligation of the Company, enforceable against it in accordance with
          its terms, subject only by bankruptcy, insolvency and any other laws
          of general application affecting creditors' rights and by rules of
          equity;

     (f)  Ownership of Collateral. The Company is, or is to become, the owner of
          the Collateral and has, or will have when the Collateral is acquired,
          the right to create a security interest in the Collateral in favour of
          the Investor;

6.   COVENANTS.  The Company covenants and agrees with the Investor that:

     (a)  Delivery of Information Regarding Collateral. The Company shall
          forthwith on request, furnish to the Investor in writing all
          information requested by the Investor, acting reasonably, relating to
          the Collateral (including reports, statements and schedules further
          identifying and describing the Collateral), forthwith on request,
          furnish to the Investor descriptions of any material Collateral
          acquired after this Agreement is executed, and the Investor shall be
          entitled from time to time, upon reasonable notice, to inspect the
          Collateral and to take temporary custody of and make copies of all
          documents relating to the Collateral and for such purposes the
          Investor shall, upon reasonable notice, have access to all premises
          occupied by the Company or where the Collateral or any of it may be
          found;

     (b)  Further Documentation. The Company shall from time to time forthwith
          on the Investor's request do, make and execute all such financing
          statements, further assignments or agreements, documents, schedules to
          this Agreement, acts, matters and things as may be required by the
          Investor, acting reasonably, of or with respect to the Collateral or
          any part thereof or as may be required to give effect to these
          presents;

     (c)  No Change in Location of Collateral etc. The Company will not change
          its chief executive office or the location of the Collateral, (other
          than Inventory enroute from suppliers or enroute to the Company or on
          lease or on consignment) or the location of the office where it keeps
          its records respecting the Accounts, without providing to the Investor
          such additional security and priority agreements, if any, as the
          Investor may reasonably require and without obtaining the prior
          written approval of the Investor, which approval shall not be
          unreasonably withheld;

     (d)  Notices. the Company agrees to immediately notify the Investor, if any
          person, firm or corporation has the right to go into, collect or seize
          possession of any part of the Collateral by means of execution,
          garnishment or other legal process;

     (e)  Payments Relating to Collateral. The Company agrees to make all
          payments and keep current all accounts which the Company is obliged to
          pay and which, if not paid, may result in an encumbrance against the
          Collateral and will provide to the

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          Investor such information requested by it from time to time to
          evidence that such payments have been made.

     (f)  Limitations on Other Security Interests. The Company will not create,
          incur or permit to exist, and will defend the Collateral against, and
          will take such other action as is necessary to remove, any and all
          Security Interests on and claims in respect of the Collateral other
          than the Permitted Security Interests and the Company will defend the
          right, title and interest of the Investor in and to the Collateral
          against the claims and demands of all Persons.

     (g)  Limitations on Dispositions of Collateral. The Company will not,
          without the Investor's prior written consent, which consent shall not
          be unreasonably withheld or delayed, sell, lease or otherwise dispose
          of any of the Collateral, except in the ordinary course of business.
          Following Default, all Proceeds of the Collateral (including all
          amounts received in respect of Accounts), whether or not arising in
          the ordinary course of the Company's business, will be held (if
          received prior to the Default) or received and held (if received after
          the Default) by the Company as trustee for the Investor and will be
          immediately paid to the Investor upon request by the Investor.

     (h)  Maintenance of Collateral. The Company will maintain all tangible
          Collateral in good operating condition, ordinary wear and tear
          excepted, and the Company will provide all maintenance, service and
          repairs necessary for such purpose. Further, the Company shall take
          all action as necessary, desirable or reasonably requested by the
          Investor to preserve the Excluded Collateral and all benefits deriving
          therefrom for the benefit of the Investor.

     (i)  Payment of Taxes. The Company will from time to time pay or cause to
          be paid all taxes, assessments, levies and similar impositions of
          every nature and kind whatsoever ("Taxes") which may be levied,
          assessed or imposed on the Collateral or any part thereof. The Company
          will from time to time pay or cause to be paid all Taxes, general and
          special, ordinary or extraordinary, of every nature and kind
          whatsoever, including local improvement taxes, which shall be levied,
          assessed or imposed upon the Collateral or any part thereof, or upon
          the Company or any other person on account thereof, save and except
          when and so long as the validity of any such Taxes, is in good faith
          contested by the Company, and, if applicable, the same remain
          Permitted Security Interests. The Investor may, at any time and from
          time to time, at the Company's expense, obtain from the municipality
          pertaining to the lands, a tax certificate confirming the status of
          property taxes in respect of such lands.

     (j)  Insurance. The Company will keep the Collateral insured with
          financially sound and reputable companies against loss or damage by
          fire, explosion, theft and such other risks in such amounts and upon
          such terms as would a reasonably prudent owner of similar property.
          The Company will, from time to time at the Investor's reasonable
          request, deliver the applicable insurance policies (or satisfactory
          evidence of such policies) to the Investor. If the Company does not
          obtain or maintain such insurance, the Investor may, but need not, do
          so, in which event the Company will immediately

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          on demand reimburse the Investor for all payments made by the Investor
          in connection with obtaining and maintaining such insurance, and until
          reimbursed any such payment will form part of the Indebtedness and
          will be secured by the Security Interests created by this Agreement.

7. SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS. All agreements,
representations, warranties and covenants made by the Company in the Security
Documents (except as may be otherwise specified therein) will survive the
execution and delivery of this Agreement or any investigation made at any time
by or on behalf of the Investor and any disposition or payment of the
Indebtedness until repayment and performance in full of the Indebtedness.

8. DEFAULT. The following events shall constitute a "Default" pursuant to this
Agreement:

     (a)  Failure to Pay. if the Company fails to make payment of any principal
          or interest on account of the Indebtedness when the same shall become
          due and such Default shall continue for a period of two (2) Business
          Days after a notice in writing of such default has been given by the
          Investor to the Company; or

     (b)  Default under Agreements. if the Company defaults under the Series D
          Note, the Subscription Agreement, the Brick Co-operation Agreement,
          the Brick Loan Agreement and all agreements which are schedules to the
          foregoing.

     (c)  Failure to Comply with Covenants. if the Company defaults in observing
          or performing any other covenant or condition of the Security
          Documents in its part to be observed or performed and if such default
          shall continue for a period of 10 Business Days after a notice in
          writing has been given by the Investor to the Company specifying such
          default, provided that in the case of a Default which cannot be
          remedied simply by payment of money such Default shall be deemed not
          to have occurred if, and so long as, the Company shall have within
          such 10 Business Day period commenced to remedy such Default and
          diligently pursued the remedying thereof; or

     (d)  False Representations. if any representation or warranty of the
          Company made hereto in any certificate or other instrument or document
          furnished by the Company to the Investor shall have been false or
          misleading in any material respect when made; or

     (e)  Failure to Pay Taxes, etc. if the Company fails to pay taxes, rates,
          levies, duties, public utility charges and assessments, which shall be
          levied, assessed or imposed upon the Collateral or any part thereof,
          or upon the Company on account thereof (save and except when and so
          long as the validity thereof is in good faith contested by the Company
          and the same remain Permitted Security Interests and any such Default
          as aforesaid shall continue either for a period of 30 days after
          written notice to the Company from the Investor; or
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     (f)  Appointment of Receiver. if a receiver or receiver and manager or a
          liquidator or a trustee in bankruptcy of the Company or for all or
          substantially all of the assets of the Company shall be appointed and
          the Company fails to seek to set aside such appointment within 30 days
          after such appointment or if the Company acquiesces to such
          appointment; or

     (g)  Inability of Pay Debts Generally. if the Company shall admit its
          inability to pay its debts generally as they become due or otherwise
          acknowledge its insolvency or an effective resolution passed for the
          winding-up of the Company or if the Company shall make an assignment
          for the benefit of its creditors or if the Company shall make a
          proposal to its respective creditors under a bankruptcy act.

     (h)  Declaration of Bankruptcy or Insolvency Under the Law. If the Company
          declares bankruptcy or insolvency under any law relating to
          bankruptcy, insolvency, winding-up or adjustment of debts and does not
          commence a challenge, appeal or seek to set aside such decision within
          15 days after receipt of notice of such decision and proceed
          vigorously thereafter with such challenge.

9. RIGHTS ON DEFAULT. On Default and so long as such Default is continuing, the
security constituted by this Agreement will be enforceable, and the Investor
may, personally or by agent do any one or more of the following:

     (a)  Rights under PPSA, etc. Exercise all of the rights and remedies
          granted to secured parties under the PPSA and any other applicable
          statute, or otherwise available to the Investor at law or in equity.

     (b)  Take Possession. Take possession of any or all of the Collateral in
          which event the Company will, at the expense of the Investor, cause
          the Collateral designated by the Investor to be assembled and made
          available and/or delivered to the Investor at any place designated in
          writing by the Investor.

     (c)  Take Possession. Enter on any premises where any Collateral is located
          and take possession of, disable or remove such Collateral by any
          method permitted by law.

     (d)  Use of Collateral. Hold, store and keep idle, or operate, lease or
          otherwise use or permit the use of any or all of the Collateral for
          such time and on such terms as the Investor acting reasonably, may
          determine, and demand, collect and retain all earnings and other sums
          due or to become due from any Person in respect of any of the
          Collateral.

     (e)  Carry on Business. Carry on, or concur in the carrying on of, any or
          all of the business or undertaking of the Company and enter on, occupy
          and use (without charge by the Company) any of the premises,
          buildings, plant and undertaking of, or occupied or used by, the
          Company.

     (f)  Deal with Collateral. Seize, collect, receive, enforce, repair,
          process, modify, complete or otherwise deal with any Collateral in
          such reasonable manner, on such terms and conditions and at such times
          as the Investor deems advisable.

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     (g)  Dispose of Collateral. Realize on any or all of the Collateral and
          sell, lease, assign, give options to purchase, or otherwise dispose of
          and deliver any or all of the Collateral (or contract to do any of the
          above), in one or more parcels at any public or private sale, at any
          exchange, broker's board or office of the Investor or elsewhere, on
          such terms and conditions as the Investor may deem advisable and at
          such prices as it may deem best, for cash or on credit or for future
          delivery.

     (h)  Court-Approved Disposition of Collateral. Apply to a court of
          competent jurisdiction for the sale or foreclosure of any or all of
          the Collateral.

     (i)  File Claims. File such proofs of claim or other documents as may be
          necessary or desirable to have the Investor's claim lodged in any
          bankruptcy, winding-up, liquidation, dissolution or other proceedings
          (voluntary or otherwise relating to the Company).

     (j)  Purchase by Investor. At any public sale, and to the extent permitted
          by law on any private sale, bid for and purchase any or all of the
          Collateral offered for sale and, upon compliance with the terms of
          such sale, hold, retain and dispose of such Collateral without any
          further accountability to the Company or any other Person with respect
          to such holding, retention or disposition, except as required by law.

     (k)  Payment of Indebtedness. Pay any liability secured by any Security
          Interest against any Collateral. The Company will upon request
          reimburse the Investor for all such payments, such payments will form
          part of the Indebtedness and will be secured by the Security Interests
          created by this Agreement.

     (l)  Appointment of Receiver Pursuant to Agreement. Appoint by instrument
          in writing one or more Receivers over the Company or any or all of the
          Collateral with such rights, powers and authority (including any or
          all of the rights, powers and authority of the Investor under this
          Agreement) as may be provided for in the instrument of appointment or
          any supplemental instrument, and remove and replace any such Receiver
          from time to time. To the extent permitted by applicable law, any
          Receiver appointed by the Investor will (for purposes relating to
          responsibility for the Receiver's acts or omissions) be considered to
          be the agent of the Company and not of the Investor. The Investor may
          from time to time fix the Receiver's remuneration and the Company will
          be obliged to pay to the Investor, acting reasonably, the amount of
          such remuneration.

     (m)  Court-Appointed Receiver. Apply to a court of competent jurisdiction
          for the appointment of a Receiver of the Company or of any or all of
          the Collateral.

10. APPLICATION OF PROCEEDS. All Proceeds of Collateral received by the Investor
or by a Receiver may be applied to discharge or satisfy expenses (including the
Receiver's remuneration and other reasonable expenses of enforcing the
Investor's rights under the Security Documents) including but not limited to
borrowings, taxes and other outgoings affecting the Collateral or which are
considered advisable by the Investor or the Receiver to protect, preserve,
repair, process, maintain or enhance the Collateral or prepare it for sale,
lease or other disposition, or to keep in good standing any

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Security Interests on the Collateral ranking in priority to any of the Security
Interests created by this Agreement, or to sell, lease or otherwise dispose of
the Collateral. The balance of such Proceeds may be held as collateral security
for the Indebtedness or be applied to such of the Indebtedness (whether or not
the same are due and payable) in such manner and at such times as the Investor
considers appropriate and thereafter will be accounted for as required by law.

11. CONTINUING LIABILITY OF COMPANY. The Company will remain liable for any
Indebtedness that are outstanding following realization of all or any part of
the Collateral and the application of the Proceeds thereof.

12. INVESTOR'S APPOINTMENT AS ATTORNEY-IN-FACT. The Company constitutes and
appoints the Investor, and any officer or agent of the Investor, with full power
of substitution, as the Company's true and lawful attorney-in-fact with full
power and authority in the place of the Company and in the name of the Company
or in its own name, from time to time in the Investor's discretion after a
Default and only for so long as such Default is continuing, to take any and all
appropriate action and to execute any and all documents and instruments as, in
the opinion of such attorney acting reasonably, may be necessary or desirable to
accomplish the purposes of this Agreement. These powers are coupled with an
interest and are irrevocable until this Agreement is terminated and the Security
Interests created by this Agreement are released. Nothing in this section
affects the right of the Investor or any other Person, to sign and file or
deliver (as applicable) all such financing statements, financing change
statements, notices, verification agreements and other documents relating to the
Collateral and this Agreement as the Investor or such other Person considers
appropriate, acting reasonably.

13. PERFORMANCE BY INVESTOR OF COMPANY'S OBLIGATIONS. If the Company fails to
perform or comply with any of its obligations under this Agreement, the Investor
may, but need not, perform or otherwise cause the performance or compliance of
such obligation, provided that such performance or compliance will not
constitute a waiver, remedy or satisfaction of such failure. The reasonable
expenses of the Investor incurred in connection with any such performance or
compliance will be payable by the Company to the Investor, any such reasonable
expenses will form part of the Indebtedness and will be secured by the Security
Interests created by this Agreement.

14. RIGHT OF SET-OFF. The Investor may at any time and from time to time after
the occurrence of a Default, upon notice to the Company or any other Person,
set-off, appropriate and apply any and all indebtedness and liabilities of the
Investor to the Company, liquidated, unliquidated, contingent, matured or
unmatured, against and on account of any Indebtedness of any kind whatsoever,
including for greater certainty liquidated, unliquidated, contingent, matured or
unmatured, in such order of application as the Investor shall from time to time
determine.

15. RIGHTS OF INVESTOR AND LIMITATIONS ON INVESTOR'S OBLIGATIONS.

     (a)  Limitations on Investor's Liability. The Investor will not be liable
          to the Company or any other Person for any failure or delay in
          exercising any of its rights under this Agreement (including any
          failure to take possession of, collect, sell, lease or otherwise
          dispose of any Collateral, or to preserve rights against prior
          parties). Neither the Investor nor a Receiver (including, in Alberta,
          any sheriff) is required to take, or will have any liability for any
          failure to take or delay in taking, any steps

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          necessary or advisable to preserve rights against other Persons under
          any Collateral in its possession. Neither the Investor nor any
          Receiver will be liable for any, and the Company will bear the full
          risk of all, loss or damage to any and all of the Collateral
          (including any Collateral in the possession of the Investor or any
          Receiver) caused for any reason other than the gross negligence or
          wilful misconduct of the Investor or such Receiver.

     (b)  Company Remains Liable under Accounts and Contracts. Notwithstanding
          any provision of this Agreement, the Company will remain liable under
          each of the Accounts and Contracts to observe and perform all the
          conditions and obligations to be observed and performed by the Company
          thereunder, all in accordance with the terms of any agreement giving
          rise to each such Account or in accordance with and pursuant to the
          terms and provisions of each such Contract. Neither the Investor nor
          any Receiver have any obligation or liability under any Account (or
          any agreement giving rise thereto) or Contact by reason of or arising
          out of this Agreement or the receipt by the Investor of any payment
          relating to such Account or Contract pursuant hereto, and in
          particular (but without limitation), the Investor will not be
          obligated in any manner to perform any of the obligations of the
          Company under or pursuant to any Account (or any agreement giving rise
          thereto) or under or pursuant to any Contract, to make any payment, to
          make any inquiry as to the nature or the sufficiency of any payment
          received by it or as to the sufficiency of any performance by any
          party under any Account (or any agreement giving rise thereto) or
          under any Contract, to present or file any claim, to take any action
          to enforce any performance or to collect the payment of any amounts
          which may have been assigned to it or to which it may be entitled at
          any time.

     (c)  Collections on Accounts and Contracts. The Investor hereby authorizes
          the Company to collect the Accounts and payments under the Contracts
          in the normal course of its business and for the purpose of carrying
          on the same. All such amounts while held by the Investor and all
          income in respect thereof will continue to be collateral security for
          the Indebtedness and will not constitute payment thereof until applied
          as hereinafter provided. At such intervals as may be agreed upon by
          the Company and the Investor, or, if a Default will have occurred and
          be continuing at any time or from time to time, the Investor will
          apply all or any part of the accounts and payments collected under the
          contracts on account of the Indebtedness in such order as the Investor
          may elect. At the Investor's request, the Company will deliver to the
          Investor any documents evidencing and relating to the agreements and
          transactions which gave rise to the Accounts and Contracts, including
          all original orders, invoices and shipping receipts.

16. DEALINGS BY INVESTOR. The Investor will not be obliged to exhaust its
recourse against any other Person or against any other Security Interests it may
hold in respect of the Indebtedness before realizing upon or otherwise dealing
with the Collateral in such manner as the Investor may consider desirable. The
Investor may grant extensions of time and other indulgences, take and give up
security, accept compositions, grant releases and discharges and otherwise deal
with any other Person, and with any or all of the Collateral, and with other
security and sureties, as the Investor may see fit, all without prejudice to the
Indebtedness or to the rights and remedies of the Investor under

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this Agreement. The powers conferred on the Investor under this Agreement are
solely to protect the respective interests of the Investor in the Collateral and
will not impose any duty upon the Investor to exercise any such powers.

17. ADDITIONAL SECURITY. The Security Interests created by this Agreement are in
addition and without prejudice to any other Security Interests now or later held
by the Investor. No Security Interests held by the Investor will be exclusive of
or dependent upon or merge in any other Security Interests, and the Investor may
exercise its rights under such Security Interests independently or in
combination.

18. RELEASE OF INFORMATION. The Company authorizes the Investor to provide a
copy of this Agreement and such other information as may be requested of the
Investor by Persons entitled thereto pursuant to any applicable legislation.

19. WAIVERS. The Investor may, in whole or in part, waive any breach of any of
the provisions of this agreement by the Company, any default by the Company in
the payment or performance of any of the Indebtedness or any of its rights and
remedies whether provided for hereunder or otherwise provided that no such
waiver shall be considered to have been given unless given expressly by the
Investor to the Company in writing. No waiver given in accordance with this
section shall be a waiver of any other or subsequent breach by the Company of
any of the provisions of this Agreement, of any other or subsequent default by
the Company in the payment or performance of any of the Indebtedness or any of
the other rights and remedies of the Investor whether provided for herein or
otherwise.

20. GOVERNING LAW. This Agreement will be governed by and construed in
accordance with the laws of the Province of Ontario and the laws of Canada
applicable in such Province and will be treated, in all respects, as a contract
of such Province.

21. CONFLICT. To the extent that any term, condition, representation, covenant
or other provision contained in this Agreement conflicts with, any term,
condition, representation, covenant or other provision contained in the Series D
Note, then the relevant term, condition, representation, covenant or other
provision of this Agreement shall govern.

22. INTERPRETATION. The division of this Agreement into sections and paragraphs,
and the insertion of headings, is for convenience of reference only and will not
affect the construction or interpretation of this Agreement. Unless the context
otherwise requires, words importing the singular include the plural and vice
versa, and words importing gender include all genders and neuter. When used in
this Agreement, the word "INCLUDING" (or "INCLUDES") means "INCLUDING (or
"INCLUDES") WITHOUT LIMITATION". Any reference in this Agreement to a "SECTION"
or a "SCHEDULE" means the relevant section or schedule of this Agreement unless
the context specifically provides otherwise.

23. SUCCESSORS AND ASSIGNS. This Agreement will enure to the benefit of, and be
binding on, the Company and its successors and assigns, and will enure to the
benefit of, and be binding on, the Investor and its successors and assigns. The
Company may not assign this Agreement, or any of its rights or obligations under
this Agreement, without the prior written consent of the Investor, which consent
shall not be unreasonably withheld. However, the Investor in its sole
discretion, may
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withhold its consent to a proposed assignment by the Company which is reasonably
considered an arbitrary assignment by the Company.

24. ACKNOWLEDGEMENT OF RECEIPT/WAIVER. The Company acknowledges receipt of an
executed copy of this Agreement and, to the extent permitted by applicable law,
waives the right to receive a copy of any financing statement, financing change
statement or verification statement in respect of any registered financing
statement or financing change statement prepared, registered or issued in
connection with this Agreement.

25. SEVERABILITY. Any provision of this Agreement that is invalid or
unenforceable in any jurisdiction will, as to that jurisdiction, be ineffective
to the extent of such invalidity or unenforceability and will be severed from
the balance of this Agreement, all without affecting the remaining provisions of
this Agreement or affecting the validity or enforceability of such provision in
any other jurisdiction.

26. LISTINGS OF COLLATERAL. Any schedules, documents or listings provided to the
Investor which summarize or describe any after acquired Collateral shall form
part of this Agreement.

      DATED as of the ___ day of August, 2002.

                                          ADB SYSTEMS INTERNATIONAL INC.

                                          By: __________________________________
                                               Name:
                                               Title:

<PAGE>

                                  SCHEDULE "A"

DEFINITIONS

"ACCESSIONS", "ACCOUNT", "CHATTEL PAPER", "CONSUMER GOODS", "DOCUMENT OF TITLE",
"EQUIPMENT", "GOODS", "Instrument", "INTANGIBLE", "INVENTORY", "MONEY", "MOTOR
VEHICLES", "PROCEEDS", "VALUE" and "SECURITIES" have the meanings given to them
in the PPSA.

"AGREEMENT" means this General Security Agreement, as amended, modified,
supplemented, restated and replaced in writing from time to time.

"BOOKS AND RECORDS" means all books, records, files, papers, disks, documents
and other repositories of data recording in any form or medium, evidencing or
relating to the Collateral which are at any time owned by the Company or to
which the Company (or any Person on the Company's behalf) has access.

"BRICK CO-OPERATION AGREEMENT" means the co-operation agreement dated August 23,
2002 between the Company, the Brick Warehouse Corporation and ADB Systems
International Ltd.

"BRICK LOAN AGREEMENT" means the loan agreement dated August 23, 2002 between
the Company, the Brick Warehouse Corporation and ADB Systems International Ltd.

"BUSINESS DAY" means any day other than a Saturday, Sunday, statutory holiday in
Ontario or day on which the main branch of the Company's banking institution in
Toronto is closed for business.

"COLLATERAL" means all of the present and future undertaking, Personal Property
(including any Personal Property that may be described in any Schedule to this
Agreement or any schedules, documents or listings that the Company may from time
to time provide to the Investor in connection with this Agreement) of the
Company (including all such Personal Property at any time owned, leased,
licensed, possessed or acquired by the Company, or in which the Company at any
time has any interest or to which the Company is or may at any time become
entitled), Contracts, Intellectual Property Rights, and all Proceeds thereof, in
any such case wherever located.

"COMPANY" means ADB Systems International Inc.

"CONTRACTS" means all existing and future contracts, licenses and agreements to
which the Company is at any time a party or pursuant to which the Company has at
any time acquired rights, as such contracts, licenses and agreements may from
time to time be amended or restated and includes (i) all rights of the Company
to receive money due and to become due to it in connection with a contract
licence or agreement; (ii) all rights of the Company to damages arising out of,
or for breach or default in respect of, a contract, licence or agreement; and
(iii) all rights of the Company to perform and exercise all remedies in
connection with a contract, licence or agreement.

"DEFAULT" has the meaning ascribed in Section 8 of this Agreement.
<PAGE>
                                       2.

"EXCLUDED COLLATERAL" means the last day of the term of any real property lease
and any Intellectual Property Right or Permit where the grant of a Security
Interest therein without consent would result in the breach or termination
thereof, unless such consent is obtained.

"INDEBTEDNESS" means all present and future indebtedness, liabilities and
obligations whether direct or indirect, joint or several, absolute or
contingent, matured or unmatured of the Company to the Investor wherever and
however incurred, including principal, interests, charges, fees, costs and
expenses however evidenced, whether as principal, surety, endorser, guarantor or
otherwise, whether arising under the Series D Note and/or the Security Documents
or otherwise.

"INTELLECTUAL PROPERTY RIGHTS" means all industrial and intellectual property
rights, including all trade-marks, trade names, corporate names, company names,
business names, logos, websites (including, without limitation, all URLs
(uniform resource locators) and any and all copyrights, software, coding and
codes associated therewith) and other sources of business identifiers, customer
lists, subscriber lists and the goodwill associated therewith, including
registrations, recordings and applications with the Canadian Intellectual
Property Office and any similar government office or agency in other countries,
all copyrights and industrial designs in all works, including all drawings and
computer programs, all patents, proprietary technology, rights to inventions
whether patentable or otherwise, trade secrets, confidential information and
other processes and all registrations, recordings applications for the
foregoing, all licenses currently in force or may in the future be in force
which authorizes the licensee to make, use, offer for sale, sell or advertise
wares or services in connection with issued or pending applications for one or
more patents, trade-marks, industrial designs, or in association with licensed
know-how, trade secrets, confidential information and computer programs, the
right to sue parties for past, present and future infringements or dilution of
Intellectual Property Rights and associated goodwill, all Contracts related to
any such industrial and intellectual property rights including those trade-marks
set out in Schedule "D" and all reissues, continuations or extensions of any of
the foregoing.

"INVESTOR" means Greenwich Growth Fund Ltd.

"PERMITTED SECURITY INTERESTS" means (i) the Security Interests created by the
General Security Agreement granted by the Company in favour of The Brick
Warehouse Corporation, to a maximum amount of CDN$2,000,000, for a non-revolving
loan to the Company by the Brick Warehouse Corporation pursuant to the Loan
Agreement, plus interest and fees, reimbursement obligations and legal expenses,
whether due after acceleration or otherwise; (ii) the Security Interest created
by the General Security Agreement granted by the Company in favour of
Stonestreet Limited Partnership; (iii) the Security Interests granted by the
Company to subscribers of the Series D Notes, and for clarification, such
subscribers do not include Greenwich Growth Fund Ltd.; (iv) the Security
Interests set out in Schedule "C" and (v) the security interests granted by the
Company to the parties listed in Schedule "E".

"PERMITS" means all permits, licenses, authorizations, approvals, franchises,
rights-of-way, easements and entitlements that the Company has, requires or is
required to have, to own, possess or operate any of its property or to operate
and carry on any part of its business.

<PAGE>
                                       3.

"PERSON" will be broadly interpreted and includes an individual, a corporation,
a limited liability company, a partnership, a trust, a joint venture, an
association, an unincorporated organization, the government of a country or any
political subdivision thereof, any agency or department of any such government,
a regulatory agency or any other entity and the heirs, executors, administrators
or other legal representatives of an individual.

"PERSONAL PROPERTY" means personal property and includes Accounts, Inventory,
Equipment, Books and Records, Chattel Paper, Goods, Documents of Title,
Instruments, Intangibles (including Intellectual Property Rights and Permits),
Money and Securities, and includes all present and future Accessions to any of
the foregoing, but excludes Consumer Goods.

"PPSA" means the Personal Property Security Act of the Province of Ontario, as
amended, renamed or replaced from time to time (and includes all regulations
from time to time made under such legislation).

"RECEIVER" means a receiver, a manager, a receiver and manager or an agent of
the Investor or any Receiver.

"SECURITIES" has the meaning given to it in the PPSA, or if there is no such
meaning given in the PPSA, but the PPSA defines "SECURITY" instead, it means the
plural of that term.

"SECURITY DOCUMENTS" means collectively, this Agreement and all other security
agreements, guarantees, share pledge agreements, and other agreements,
instruments and documents from time to time granted in favour of the Investor as
security for or in support of the obligations of the Company under the Series D
Note and the Subscription Agreement, as amended, modified, supplemented,
restated and replaced in writing from time to time.

"SECURITY INTEREST" means any mortgage, charge, pledge, hypothecation, lien
(statutory or otherwise), assignment, finance lease, title retention agreement
or arrangement, security interest or other encumbrance or adverse claim of any
nature, or any other security agreement or arrangement creating in favour of any
creditor a right in respect of a particular property or asset.

"SERIES D NOTE" means the note in the principal amount of CDN$100,000 issued by
the Company to the Investor;

"SERIES D NOTES" mean all of the Series D notes issued to subscribers in respect
of subsection (iii) of the definition of Permitted Security Interests above;

"SUBSCRIPTION AGREEMENT" means the subscription agreement pursuant to which, the
Investor subscribes for and the Company accepts the subscription for the Series
D Note;

<PAGE>

                                  SCHEDULE "B"

CHIEF EXECUTIVE OFFICE

201-6725 Airport Road
Mississauga, Ontario
L4V 1V2

PRINCIPAL PLACES OF BUSINESS

201-6725 Airport Road
Mississauga, Ontario
L4V 1V2

<PAGE>

                                  SCHEDULE "C"

                     ADDITIONAL PERMITTED SECURITY INTERESTS

"PERMITTED SECURITY INTERESTS" means with respect to any property or asset of
any Person:

     (a)  Security Interests for provincial or municipal taxes, charges, rates
          and assessments not yet due or, if due, the validity of which is being
          contested in good faith and Security Interests for the excess of the
          amount of any past due taxes for which a final assessment has not been
          received over the amount of such taxes as estimated and paid by such
          Person;

     (b)  the Security Interests of any judgment rendered or claim filed against
          the Company or its property which it shall be contesting in good faith
          and in respect of which there shall have been deposited with an
          arms-length Person acceptable to the Investor, acting reasonably,
          cash, security or a surety bond satisfactory to such arms-length
          Person in an amount sufficient to pay such judgment or claim;

     (c)  defects or irregularities of title which do not in the aggregate
          materially impair the value of the property to which they related or
          interfere with the use of the property to which they relate for the
          purposes for which it is held by such Person;

     (d)  pledges or deposits to secure payment of workers' compensation, good
          faith deposits in connection with tenders, contracts (other than
          contracts for the repayment of moneys borrowed) or leases, deposits to
          secure public or statutory obligations, deposits to secure or in lieu
          of surety or appeal bonds, and pledges or deposits for similar
          purposes in the ordinary course of business;

     (e)  purchase money security interests; and

     (f)  any other Security Interests accepted from time to time by the
          Investor in writing.

<PAGE>

                                  SCHEDULE "D"

INTELLECTUAL PROPERTY RIGHTS

OWNED INTELLECTUAL PROPERTY (Trade-marks only)

<TABLE>
<CAPTION>
        COUNTRY            TRADE MARK                             APP. NO.         REG. NO.
        -------            ----------                             --------         --------
        <S>                <C>                                    <C>              <C>
        Canada             BID BUDDY                              1,004,968        -
        Canada             BID.COM                                1,056,622        -
        Canada             BID.COM Design                         1,056,624        -
        Canada             CLUB RADD                              806,852          -
        Canada             INTERNET LIQUIDATORS & Design          775,724          TMA454,782
        Canada             SEARCH BUDDY                           1,004,967        TMA540,780
        U.S.               BID BUDDY                              75/648,781       2,302,291
        U.S.               CLUB R.A.D.D.                          76/130,453       -
        U.S.               SEARCH BUDDY                           75/648,783       2,302,292
</TABLE>

LEASED INTELLECTUAL PROPERTY (Trade-marks only)

     DESCRIPTION OF MARK                           REGISTRATION/SERIAL NUMBER

    [None - to be confirmed by J. Mackie]

<PAGE>

                                  SCHEDULE "E"

                               PPSA Registrations

         File Number:                             881960004
         Registration Number:                     20020510181117159588
         Debtor Name:                             ADB Systems International Inc.
         Secured Party:                           Xerox Canada Ltd.
         Collateral Classification:               Equipment, Other

         File Number:                             866486169
         Registration Number:                     20001010181415317449
         Debtor Name:                             Bid.Com Interational Inc.
         Secured Party:                           Hewlett-Packard (Canada) Ltd.
         Collateral Classification:               Equipment, Other<PAGE>

                             SUBSCRIPTION AGREEMENT

TO:      ADB SYSTEMS INTERNATIONAL INC.,
         An Ontario Corporation (the "COMPANY)

Dear Sirs:

         Stonestreet Limited Partnership (the "SUBSCRIBER") understands that the
Company is proposing to issue:

         (a)  a series A 8% secured convertible note in the principal amount of
              $408,000 ("SERIES A NOTE"); and

         (b)  a series B 8% secured convertible note in the principal amount of
              $216,000 ("SERIES B NOTE").

         The forms of Series A Note and Series B Note are set forth respectively
in EXHIBIT A and EXHIBIT B attached hereto. The aggregate principal amount of
$624,000 for the Series A Note and Series B Note is referred to in this
subscription agreement as the "LOAN AMOUNT". The Subscriber understands that the
Company is also proposing to issue one or more Series D 8% secured convertible
notes up to a maximum principal amount of $376,000 to other investors ("SERIES D
NOTES").

         In addition, the Company is proposing to issue a series C 8% secured
convertible note in the principal amount of $120,000 ("SERIES C NOTE") as
payment for the fee owing to the Subscriber in the amount of $120,000 (the
"TERMINATION FEE") plus applicable goods and service tax ("GST") as
consideration for the Subscriber entering into a termination and waiver
agreement in the form of EXHIBIT C attached hereto (the "TERMINATION AND WAIVER
AGREEMENT"), terminating the obligations of the Company pursuant to an earlier
agreement with the Subscriber dated April 25, 2002 excepting only the Company's
obligation to indemnify the Subscriber pursuant to s.7(a)(i) therein and the
Subscriber's obligation to indemnify the Company pursuant to s.7(b)(i) therein
from liability, loss or damage resulting from any misrepresentation or breach of
warranty contained in such agreement. The Form of the Series C Note is set forth
in Exhibit A to the Termination and Waiver Agreement.

         Series A Note, Series B Note and Series C Note are collectively
referred to hereinafter as the "NOTES" and individually as a "NOTE". The
maturity date (the "MATURITY DATE") for each Note is December 31, 2004.

         Each of the Series A Note and Series B Note can be converted at the
Subscriber's option, subject to the Maximum Investment Limitation set forth
below, into one unit (a "UNIT") at a conversion price of $0.12 per Unit, at any
time following Shareholder Approval (as defined below) in the case of Series A
Note, and at any time after December 20, 2002 in the case of Series B Note, both
prior to receipt of payment in full both before and after default. Each Unit
consists of one common share in the capital of the Company (a "UNIT SHARE") and
one half of one common share purchase warrant (the "WARRANT"), each whole
Warrant entitling the holder to purchase one common share of the Company at
$0.14 per share exercisable until December 31, 2004. The form of the Warrant
(the "WARRANT CERTIFICATE") is annexed hereto as EXHIBIT D.
<PAGE>
                                       2

         Series C Note can be converted at the Subscriber's option, subject to
the Maximum Investment Limitation set forth below, into one common share in the
capital of the Company (a "NOTE C SHARE") at a conversion price of $0.12 per
share, at any time after December 20, 2002 and prior to receipt of payment in
full both before and after default. The interest on Series C Note will accrue
and be payable only from the earlier of the Maturity Date or the occurrence of
an event of default as defined therein.

         Subject to the Maximum Investment Limitation set forth below, the
interest accrued on the Series A Note, Series B Note and Series C Note may be
payable by the Company, at its option, by issuing to the Subscriber common
shares (the "INTEREST SHARES") at a deemed issue price equal to the weighted
average trading price of the Company's common shares on the Toronto Stock
Exchange (the "TSX") for the 10 trading days immediately preceding the date for
payment of interest.

         The Unit Shares and the Note C Shares are collectively referred to in
this Agreement as the "COMPANY SHARES". The Company Shares, the Interest Shares
and the common shares issuable upon the exercise of the Warrants (the "WARRANT
SHARES") are collectively referred to in this Agreement as the "SHARES". The
Shares and the Warrants are collectively referred to in this Agreement as the
"UNDERLYING SECURITIES". The Notes and the Underlying Securities are
collectively referred to in this Agreement as the "SECURITIES".

         The following terms and conditions shall apply to this subscription.

1.       Term Sheet. The Term Sheet dated August 16, 2002 attached as SCHEDULE 1
setting forth the salient terms of this transaction is hereby incorporated by
reference.

2.       Subscription for Notes

         (a)  The Subscriber hereby subscribes for the Series A Note, Series B
              Note and the Series C Note. The closing of the issue of the Notes
              (the "CLOSING") shall take place at 8:00 am (Toronto time) (the
              "TIME OF CLOSING") at the offices of Gowling Lafleur Henderson
              LLP, Toronto, Ontario, on August 30, 2002, or at such other time
              and place as may be agreed upon by the parties, provided that on
              such date the conditions set forth in section 3 below shall have
              been satisfied or waived (such closing day or such other time
              being hereinafter referred to as the "CLOSING DATE").

         (b)  The Notes shall be issued on the Closing Date as fully registered
              and shall be fully transferable subject to compliance with
              applicable Securities Laws (as hereinafter defined).

         (c)  At the Time of Closing on the Closing Date, the Company shall
              deliver to or to the order of the Subscriber the definitive Notes,
              the documentation contemplated herein and such further
              documentation as counsel for the Subscriber may reasonably require
              against payment of the Loan Amount for the Series A Note and the
              Series B Note by certified cheque or wire transfer payable to or
              to the order of the Company, and against delivery of the
              Termination and Waiver Agreement (as hereinafter defined) executed
              by the Subscriber.

<PAGE>
                                       3

3.       Conditions of Closing

         (a)  The Company's obligation to issue the Notes to the Subscriber is
              subject to the conditions that:

              (i)    such issuance be conditionally accepted by the Toronto
                     Stock Exchange (the "TSX");

              (ii)   the issuance of the Notes and the Underlying Securities are
                     exempt from the registration requirements and prospectus
                     filing requirements under applicable securities statutes,
                     regulations, rules, policy statements and interpretation
                     notes and by the applicable rules and policies of the TSX
                     (collectively, "SECURITIES LAWS"); and

              (iii)  the execution and delivery by the Subscriber of the
                     Termination and Waiver agreement.

         (b)  The Subscriber's obligation to subscribe for the Notes is subject
              to the following conditions:

              (i)    the satisfactory completion of due diligence by the
                     Subscriber prior to the Closing Date;

              (ii)   the issue of the Notes having been approved by the board of
                     directors of the Company;

              (iii)  the issue of the Notes having been conditionally approved
                     by the TSX;

              (iv)   the issue of the Series C Note as payment of the
                     Termination Fee and payment by the Company to the
                     Subscriber on Closing of any GST applicable on the
                     Termination Fee;

              (v)    the Company shall have completed, contemporaneously with
                     the Closing hereunder, the loan transaction (the "BRICK
                     LOAN") whereby The Brick Warehouse Corporation ("THE
                     BRICK") will have advanced to the Company on the Closing
                     Date a first advance of not less than $1.0 million and an
                     expense advance of not less than $0.5 million for payment
                     of expenses related to the transaction with The Brick;

              (vi)   payment and satisfaction by the Company of the Due
                     Diligence Fees as provided herein;

              (vii)  payment of the fees and disbursements of the Subscriber's
                     counsel with respect to the transactions contemplated
                     herein (the "SUBSCRIBER COUNSEL FEE") in the amount of
                     $25,000 to Subscriber's counsel in trust; and

              (viii) delivery of definitive agreements and all other documents
                     and instruments required by the Subscriber including a
                     legal opinion as to, among other things,

<PAGE>
                                       4

                     resale restrictions applicable to the Notes and the
                     Underlying Securities, in form satisfactory to the
                     Subscriber and its counsel.

         (c)  If any of the conditions sets forth in (a) and (b) above is not
              satisfied or waived prior to Closing, this subscription agreement
              shall terminate and the parties shall have no further obligations
              hereunder except for the Company's obligation to pay the Due
              Diligence Fees and the Subscriber Counsel Fee from the Company's
              own funds.

4.       Representations, Warranties and Covenants of Subscriber and Resale
         Restrictions

         (a)  The Subscriber hereby represents and warrants to the Company
              (which representations and warranties shall survive the Closing)
              that:

              (i)    the Subscriber is acquiring the Notes as principal for its
                     own account, and not for the benefit of any other person;

              (ii)   the Subscriber is resident in the Province of Ontario and
                     is an "accredited investor" as such term is defined in
                     Ontario Securities Commission Rule 45-501 "Exempt
                     Distributions" ("RULE 45-501");

              (iii)  the Notes are being acquired for investment purposes only
                     and not with a view to resale or distribution;

              (iv)   the Subscriber acknowledges that it has not subscribed for
                     the Notes as a result of any advertisement in printed media
                     of general and regular paid circulation, radio or
                     television, including electronic display;

              (v)    this agreement has been duly authorized, executed and
                     delivered by the Subscriber and constitutes the valid and
                     binding agreement of the Subscriber, enforceable in
                     accordance with its terms, except that:

                     (A)  enforcement thereof may be limited by bankruptcy,
                          insolvency and other laws affecting the enforcement of
                          creditors' rights generally;

                     (B)  specific performance, injunction and other equitable
                          remedies may only be granted in the discretion of a
                          court of competent jurisdiction; and

                     (C)  rights to contribution and indemnity thereunder may be
                          limited under public policy or otherwise under
                          applicable law; and

              (vi)   the Subscriber is knowledgeable, sophisticated and
                     experienced in business and financial matters and is
                     capable of evaluating the merits and risks of the
                     investment in the Notes, fully understands the investment
                     in the Notes and the restrictions on transfer described in
                     this subscription agreement and is able to bear the
                     economic risk of the investment in the Notes.

         (b)  The Subscriber acknowledges that the Securities have not been and
              will not be registered under the United States Securities Act of
              1933, as amended (the "1933 ACT"), and may not be offered, sold,
              resold or delivered within the United States of America, its
              territories

<PAGE>
                                       5

              or possessions, other than pursuant to an effective registration
              statement or an applicable exemption under the 1933 Act.

         (c)  The Subscriber covenants and agrees with the Company that:

              (i)    it will execute and deliver all documentation and provide
                     all information required by the Securities Laws, if
                     required, to permit the purchase of the Notes on the terms
                     set forth herein, including, an accredited investor
                     certificate in the form attached hereto as SCHEDULE 2, a
                     TSX Private Placement Questionnaire and Undertaking in the
                     form attached hereto as SCHEDULE 3;

              (ii)   it will comply with the Securities Laws concerning any
                     resale of the Securities, and in particular, the Subscriber
                     understands and acknowledges that the Securities will be
                     subject to a four month resale restriction under applicable
                     Securities Laws;

              (iii)  it will vote all common shares beneficially owned by the
                     Subscriber entitled to vote at the special meeting of the
                     shareholders of the Corporation to be held on or about
                     October 22, 2002 in favour of the plan of arrangement
                     contemplated in the Brick Loan transaction, provided that
                     the details of such plan of arrangement do not materially
                     vary from those disclosed to the Subscriber in written form
                     prior to Closing; and

              (iv)   it will remit to applicable governmental authority all GST
                     amount paid to the Subscriber by the Company on the
                     Termination Fee.

         (d)  Canadian Notes, Shares and Warrants Legend.

              The Subscriber acknowledges that

              (i)    the Notes, and

              (ii)   certificates representing

                     (A)  the Unit Shares and the Warrants issued upon the
                          conversion of the Series A Note and the Series B Note
                          prior to December 31, 2002,

                     (B)  the Warrant Shares purchased upon exercise of the
                          Warrants prior to December 31, 2002,

                     (C)  the Interest Shares issued prior to December 31,
                          2002,and

                     (D)  the Note C Shares issued upon the exercise of the
                          Series C Notes prior to December 31, 2002,

              will contain the following legend required pursuant to
              Multilateral Instrument 45-102 (Resale of Securities) of the
              Canadian Securities Administrators adopted as a Rule by the OSC
              ("MI 45-102"), and the Subscriber agrees to comply with the terms
              of such legend:
<PAGE>
                                       6

                     "UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER
                     OF THE SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE
                     DECEMBER 31, 2002."

         (e)  The Subscriber acknowledges that the Company will be required to
              provide applicable securities regulatory authorities with certain
              information required by the Securities Laws and agrees to provide
              the Company with any such required information.

5.       Representations and Warranties of the Company

         The Company hereby represents and warrants to the Subscriber (which
representations and warranties shall survive closing) that:

              (i)    the Company is now and has been a reporting issuer under
                     the Securities Act of Ontario for the four months
                     immediately preceding the date hereof and is not in default
                     thereunder and it is a "qualifying issuer" as defined in MI
                     45-102 as of the Closing Date;

              (ii)   the Company has been duly organized under the laws of the
                     Province of Ontario and has all required corporate power
                     and authority to enter into and carry out the provisions of
                     this subscription agreement and the transactions
                     contemplated hereby;

              (iii)  this subscription agreement, the Notes, and other
                     agreements delivered together with this subscription
                     agreement or in connection herewith have been duly
                     authorized, executed and delivered by the Company and are
                     valid and binding agreements enforceable in accordance with
                     their respective terms, except that:

                     (A)  enforcement thereof may be limited by bankruptcy,
                          insolvency and other laws affecting the enforcement of
                          creditors' rights generally;

                     (B)  specific performance, injunction and other equitable
                          remedies may only be granted in the discretion of a
                          court of competent jurisdiction; and

                     (C)  rights to contribution and indemnity thereunder may be
                          limited under public policy or otherwise under
                          applicable law;

              (iv)   all necessary corporate action has been taken or will have
                     been taken prior to the Closing Date by the Company to
                     validly create, issue and sell the Notes subscribed for by
                     the Subscriber pursuant to this subscription agreement;

              (v)    the Company Shares will be validly authorized, issued and
                     outstanding as fully paid and non-assessable shares in the
                     capital of the Company upon the due conversion of the
                     Notes;
<PAGE>
                                       7

              (vi)   the Warrant Shares will be validly authorized, issued and
                     outstanding as fully paid and non-assessable shares in the
                     capital of the Company upon the due exercise of the
                     Warrants;

              (vii)  the Interest Shares will be validly authorized, issued and
                     outstanding as fully paid and non-assessable shares in the
                     capital of the Company upon the issuance by the Company;

              (viii) the Fee Warrant Shares will be validly authorized, issued
                     and outstanding as fully paid and non-assessable shares in
                     the capital of the Company upon the due exercise of the Fee
                     Warrants;

              (ix)   no approval, authorization, consent or other order of, and
                     no filing, registration or recording with, any governmental
                     authority is required by the Company in connection with the
                     execution and delivery or with the performance by the
                     Company of this subscription agreement except:

                     (A)  the conditional and final approval of the TSX of which
                          the conditional approval has been obtained; and

                     (B)  the approval of shareholders of the Company
                          ("SHAREHOLDER APPROVAL") with respect to the issuance
                          of the Underlying Securities, which is expected to be
                          obtained at a special meeting of shareholders of the
                          Company to be held on or about October 22, 2002;

              (x)    as at August 28, 2002, there were 41,583,628 common shares
                     in the capital of the Company issued and outstanding; and

              (xi)   the Company's common shares are listed for trading on the
                     TSX. Except as publicly disclosed, the Company has not
                     received any oral or written notice that its common stock
                     will be delisted from the TSX or that the Company's common
                     shares do not meet all requirements for the continuation of
                     such listing.

6.       Reliance upon Representations, Warranties

         The parties agree that, by the Company delivering the Notes to the
Subscriber and by the Subscriber accepting the Notes, each party will be
representing and warranting that the party's representations and warranties
contained in this subscription agreement are true as at the Closing Date, with
the same force and effect as if they had been made by the such party at the
Closing Date, and that they will survive the purchase by the Subscriber of the
Notes and continue in full force and effect for a period of two (2) years
following the Closing Date notwithstanding any subsequent disposition by the
Subscriber of the Notes or the Underlying Securities.

7.       Covenants of the Company.

         The Company hereby covenants and agrees with the Subscriber as follows:

         (a)  to obtain Shareholder Approval no later than October 31, 2002;
<PAGE>
                                       8

         (b)  to cause the Notes to be duly and validly created and issued;

         (c)  to cause the Shares issuable upon the conversion of the Notes,
              upon the exercise of the Warrants and upon of the payment of
              interest on the Series A Note and Series B Note to be duly and
              validly authorized, created and issued as fully-paid and
              non-assessable common shares in the capital of the Company;

         (d)  to use its commercial best efforts to ensure that the Shares are
              listed and posted for trading on the TSX upon their issue;

         (e)  to promptly comply with all applicable filing and other
              requirements under all applicable Securities Laws, including
              without limitation, the filing of Form 45-102F2 under MI 45-102
              and Form 45-501F1 under Rule 45-501 within 10 days of the Closing
              Date together with applicable fees; and

         (f)  to use its commercial best efforts to maintain its status as a
              reporting issuer in the province of Ontario, to maintain its
              status as a "qualifying issuer" as defined in MI 45-102, and to
              continue to be in compliance with its obligations under the
              Securities Laws of Ontario.

8.       Costs

         (a)  All expenses incurred by the Company (including the fees and
              disbursements of counsel for the Company) relating to the issuance
              of the Notes, issue of the Underlying Securities, listing of the
              Shares, printing, photocopying, professional fees, the costs for
              holding the shareholders' meeting and preparation of meeting
              materials with respect to Shareholder Approval, and all other
              costs and expenses incurred by the Company relating to the
              transactions contemplated herein shall be borne by the Company.

         (b)  The Company agrees to pay all reasonable fees and expenses of the
              Subscriber (including the Subscriber Counsel Fee not exceeding
              $25,000), and other reasonable costs, expenses and liabilities
              incurred by the Subscriber and any out-of-pocket costs related to
              printing, courier, travel, telephone, fax, information meetings
              and all other reasonable out-of-pocket expenses relating to this
              transaction. The Company shall provide a direction of payment on
              Closing to the Subscriber directing the Subscriber to withhold the
              amount of $25,000 from the Loan Amount as payment of the
              Subscriber Counsel Fee. The $25,000 amount withheld shall be paid
              to the Subscriber's counsel in trust, and any funds remaining
              after presentation of its invoice by the Subscriber's counsel
              shall be remitted to the Company.

9.       Due Diligence Fees.

         (a)  In consideration for agreeing to conduct due diligence on the
              Company and to review disclosure documents filed by the Company
              under Securities Laws, the Company will pay due diligence fees
              (the "DUE DILIGENCE FEES") as follows:

              (i)    to YMP Consultants Inc. (the "CONSULTANT") a due diligence
                     payment of $25,000 (the "FEE PAYMENT"), which shall be paid
                     on Closing in accordance with the Company's direction to
                     the Subscriber which direction shall state that the Fee

<PAGE>
                                       9

                     Amount is to be withheld from the Loan Amount and to be
                     paid to the Consultant, and

              (ii)   to Stonestreet Corporation (the "GENERAL PARTNER") 150,000
                     warrants, each warrant entitling the holder to purchase one
                     common share of the Company at $0.14 per share from
                     December 22, 2002 until December 31, 2004 (the "FEE
                     WARRANTS").

         (b)  The Fee Warrants shall be evidenced by a certificate (the "FEE
              WARRANT CERTIFICATE") in the form of Exhibit D, and shall be
              issued and delivered to the General Partner on the Closing Date.
              The General Partner agrees that the legending requirements set out
              in section 4(d) herein also apply to the Fee Warrant Certificate
              and to certificate representing common shares issuable upon
              exercise of the Fee Warrants (the "FEE WARRANT SHARES").

         (c)  The General Partner hereby represents that it is an "accredited
              investor" pursuant to Rule 45-501 as evidenced by the Accredited
              Investor Certificate attached hereto as SCHEDULE 2 completed and
              signed by the General Partner, and is acquiring the Fee Warrants
              as principal for its own account for investment purposes and not
              with a view to resale or distribution.

         (d)  All the representations, covenants, warranties, undertakings,
              remedies, indemnification, and other rights made or granted to or
              for the benefit of the Subscriber are hereby also made and granted
              to the General Partner and its successors and assigns in respect
              to the Fee Warrants and the Fee Warrants Shares.

         (e)  The Company on the one hand, and the Subscriber on the other hand,
              agree to indemnify the other against and hold the other harmless
              from any and all liabilities to any persons claiming brokerage
              commissions or due diligence fees other than the Consultant and
              the General Partner on account of services purported to have been
              rendered on behalf of the indemnifying party in connection with
              this Agreement or the transactions contemplated hereby and arising
              out of such party's actions. The Company and the Subscriber each
              represents that, to its knowledge, there are no parties entitled
              to receive commissions or similar payments in connection with the
              Offering.

10.      Maximum Investment Limitation

         (a)  The Company shall not issue any Shares to the Subscriber, nor
              issue the Fee Warrant Shares to the General Partner, if:

              (i)    the number of common shares beneficially owned by the
                     Subscriber and its affiliates on the date of issue, and

              (ii)   the number of common shares to be issued to the Subscriber
                     and its affiliates,

              would result in beneficial ownership by the Subscriber and its
              affiliates of more than 19.99% of the outstanding common shares of
              the Company on such date of issue (the "MAXIMUM INVESTMENT
              LIMITATION"). For the purposes of this provision, beneficial
              ownership shall be determined in accordance with Section 13(d) of
              the Securities
<PAGE>
                                       10

              Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder.
              Subject to the foregoing, the Subscriber shall not be limited to
              aggregate issuance of only 19.99% and aggregate issuance of common
              shares to the Subscriber may exceed 19.99%. The Subscriber may
              void the Maximum Investment Limitation described in this provision
              upon 75 days prior written notice to the Company. The Subscriber
              may determine which of the equity of the Company deemed
              beneficially owned by the Subscriber is to be allocated to the
              19.99% amount described above and which to be allocated to the
              excess above 19.99%.

         (b)  Any interest accrued on the Notes that are not paid in Interest
              Shares when due as a result of the Maximum Investment Limitation
              must be paid by the Company to the Subscriber in cash.

         (c)  For the purposes of determining the percentage holdings of the
              Subscriber and its affiliates, the Subscriber agrees to notify the
              Company in writing identifying the Subscriber's affiliates. Prior
              to any issuance of any Shares to the Subscriber or its affiliates,
              the Company shall calculate and advise the Subscriber as to how
              many common shares of the Company the Subscriber and its
              affiliates hold according to the Company's records. The Company is
              entitled to rely conclusively on the Holder's notice with respect
              to the identities of the Holder's affiliates and will not be held
              liable and the Holder will have no cause of action whatsoever for
              the failure by the Company to comply with the Maximum Investment
              Limitation as a result of any inaccuracy in such notification from
              the Holder.

         (d)  The Company agrees to reject any portion of a conversion notice
              delivered by the Subscriber to the Company with respect to the
              conversion of any Note, any portion of a subscription form
              delivered by the Subscriber to the Company with respect to the
              exercise of any Warrant, and any portion of a subscription form
              delivered by the General Partner to the Company with respect to
              the exercise of any Fee Warrant, which, if converted or exercised,
              would result in a contravention of the Maximum Investment
              Limitation, and any such portion of the subscription notice or
              subscription form, as the case may be, shall be deemed to be null
              and void with respect the conversion or exercise for which the
              subscription form or the exercise form is delivered. Any portion
              of a conversion notice or subscription form, as the case may be,
              rejected in accordance with this clause (c) may be converted or
              exercised, as the case may be, at a subsequent time, subject to
              the Maximum Investment Limitation.

11.      Subsequent Financing

         Except for:

              (i)    the Brick Loan and a proposed subordinated, convertible
                     loan transactions of up to $376,000 with one or more other
                     investors upon terms no more favourable to the investor(s)
                     than as contemplated hereby,

              (ii)   stock or stock options granted to employees or directors of
                     the Company pursuant to a plan which has been approved by
                     the shareholders of the Company prior to August 16, 2002
                     and issuances of stock pursuant to such stock options,

<PAGE>
                                       11

              (iii)  stock issued upon the exercise of options or warrants which
                     are outstanding as of August 16, 2002,

              the Company will not, without the consent of the Subscriber (which
              consent shall not be unreasonably withheld or delayed), issue any
              equity, convertible debt or other securities convertible into
              common shares of the Company until March 27, 2003.

12.      Security for the Notes

         The Company agrees to grant to the Subscriber a general security
interest over all assets of the Company to secure the Company's performance of
its obligations under the Series A Note and the Series B Note, all in accordance
with the general security agreement attached hereto as EXHIBIT E hereto (the
"GENERAL SECURITY AGREEMENT").

13.      Jurisdiction

         This subscription agreement is governed by the laws of the Province of
Ontario and the federal laws of Canada applicable therein. By the Subscriber
executing this subscription agreement below, the Subscriber irrevocably attorns
to the jurisdiction of the courts of Ontario.

14.      Facsimile Subscriptions

         The Company shall be entitled to rely on delivery by facsimile of an
executed copy of this subscription agreement and acceptance by the Company of
that delivery shall be legally effective to create a valid and binding agreement
between the Subscriber and the Company in accordance with the terms of this
subscription agreement.

15.      Confidentiality.

         Each of the Subscriber and the Company shall maintain in confidence the
matters referred to in this subscription agreement and shall not make any public
disclosure, except to the extent required by law, of the terms of this agreement
without the consent of the other, such consent not to be unreasonably withheld.
The wording of any public disclosure which is made must be approved by each of
the parties.

16.      Assignment

         This subscription agreement is not transferable or assignable.

17.      Time of the Essence

         Time shall be of the essence hereof.

18.      Currency

         All references herein to monetary amounts are references to lawful
money of Canada.
<PAGE>
                                       12

19.      Headings

         The headings contained herein are for convenience of reference only and
shall not affect the meaning or interpretation hereof.

20.      Entire Agreement

         This subscription agreement (including the annexed schedules hereto)
constitutes the only agreement between the parties with respect to the subject
matter hereof and shall supersede any and all prior negotiations and
understandings and there are no representations, covenants or other agreements
relating to the subject matter hereof except as stated or referred to herein or
therein. This subscription agreement may only be amended or modified in any
respect by written instrument executed by each of the parties hereto.

                            SIGNATURE PAGE TO FOLLOW

<PAGE>
                                       13

         If the foregoing is in accordance with your understanding, please sign
and return this subscription agreement as soon as possible to evidence your
agreement to issue the Notes.

DATED at ________________________________ this _________ day of _________, 2002.

         Please acknowledge your acceptance of the foregoing subscription
agreement by signing and returning a copy to the undersigned whereupon it shall
become a binding agreement between us.

                                 STONESTREET LIMITED PARTNERSHIP
                                 Subscriber
                                 by its general partner, Stonestreet Corporation

                                 By:______________________________________
                                         Elizabeth Leonard
                                         Chief Operating Officer

                                 STONESTREET CORPORATION
                                 General Partner to the Subscriber executing
                                 this Agreement only with respect to Sections
                                 9(a)(ii), 9(c), 9(d) and 9(e) herein.

                                 By:______________________________________
                                         Elizabeth Leonard
                                         Chief Operating Officer

ACCEPTED: Dated as of August ____, 2002.

ADB SYSTEMS INTERNATIONAL INC.

By:_________________________________
         Name:
         Title:

<PAGE>

                                   SCHEDULE 1

                                   TERM SHEET

<PAGE>

                                   SCHEDULE 2

                         ACCREDITED INVESTOR CERTIFICATE

TO:               ADB SYSTEMS INTERNATIONAL INC. (THE "COMPANY")

RE:               SUBSCRIPTION FOR CONVERTIBLE SECURED NOTES OF THE COMPANY

The undersigned Subscriber/officer of the Subscriber (or in the case of a trust,
the trustee or an officer of the trustee of the trust) hereby certifies that:

1.       he/she has read the subscription agreement and understands that the
         offering of convertible secured notes to the Subscriber, is being made
         on a registration and prospectus exempt basis;

2.       the Subscriber is an "accredited investor" as that term is defined in
         Ontario Securities Commission Rule 45-501 "Exempt Distributions" by
         virtue of the Subscriber being:

[PLEASE CHECK ONE]

(i) _________     an individual who beneficially owns, or who together with a
                  spouse beneficially owns, financial assets(1) having an
                  aggregate realizable value that, before taxes but net of any
                  related liabilities(2), exceeds $1,000,000

(ii) ________     an individual whose net income before taxes exceeded $200,000
                  in each of the two most recent years or whose net income
                  before taxes combined with that of a spouse exceeded $300,000
                  in each of those years and who, in either case, has a
                  reasonable expectation of exceeding the same net income level
                  in the current year

(iii) _______     a person or company registered under the Securities Act
                  (Ontario) or securities legislation in another jurisdiction as
                  an adviser or dealer, other than a limited market dealer

(iv) ________     an individual who has been granted registration under the
                  Securities Act (Ontario) or securities legislation in another
                  jurisdiction as a representative of a company which is
                  registered as a dealer or adviser, whether or not that
                  individual's registration is still in effect

(v) _________     a company, limited partnership, limited liability partnership,
                  trust or estate, other than a mutual fund or non-redeemable
                  investment fund, that had net assets of at least $5,000,000 as
                  reflected in its most recently prepared financial statements

(vi) ________     a person in respect of which all of the owners of interests,
                  direct or indirect, legal or

--------
1 For the purposes of this certificate, the term "financial assets" means cash,
securities or any contract of insurance or deposit or evidence thereof that is
not a security for the purposes of the Securities Act (Ontario).

2 For the purposes of this certificate, the term "related liabilities" means:
liabilities incurred or assumed for the purposes of financing the acquisition or
ownership of financial assets and liabilities that are secured by financial
assets.

<PAGE>

                  beneficial, are persons that are accredited investors.

(vii) _______     other _____________________________________[PLEASE INSERT
                  EXEMPTION BEING RELIED UPON, AS REFERRED TO IN APPENDIX 1 TO
                  THIS CERTIFICATE]

3. he/she: (a) if the Subscriber, is making the above statement based on
personal knowledge of his/her financial situation and has reviewed personal
financial documentation with an accountant, financial advisor or other financial
professional to determine the above statement is true; or (b) if other than the
Subscriber, is making the above statement based on a review of the financial
statements of the Subscriber for the most recently completed financial year and
any interim financial statements prepared since the end of such financial year
and has undertaken such other review and due diligence necessary to determine
and certify that the Subscriber is an "accredited investor" as that term is
defined in Ontario Securities Commission Rule 45-501 "Exempt Distributions"; and

4. he/she understands that the Company is relying on this certificate as
evidence of the Subscriber's status as an accredited investor in accordance with
Ontario Securities Commission Rule 45-501 and its companion policy.

DATED at __________________________________ this ____________ day of
____________________________________, 2002.

                                 STONESTREET LIMITED PARTNERSHIP
                                 Subscriber
                                 by its general partner, Stonestreet Corporation

                                 By:____________________________________________
                                       Elizabeth Leonard
                                       Chief Operating Officer

<PAGE>

                                   APPENDIX 1

FOR THE PURPOSES OF SUBSCRIBING FOR CONVERTIBLE SECURED NOTES OF ADB SYSTEMS
INTERNATIONAL INC., ALL INVESTORS RESIDENT IN OR OTHERWISE SUBJECT TO THE LAWS
OF THE PROVINCE OF ONTARIO RELYING ON THE "OTHER" CATEGORY OF "ACCREDITED
INVESTOR" ON THE CERTIFICATE TO WHICH THIS APPENDIX IS ATTACHED MUST QUALIFY AS
ONE OF THE FOLLOWING (PLEASE CIRCLE THE APPLICABLE PROVISION BELOW AND INSERT
SAME IN THE SPACE PROVIDED ON THE CERTIFICATE TO WHICH THIS APPENDIX IS
ATTACHED):

         (i)     a bank listed in Schedule I or II, or an authorized foreign
                 bank branch listed in Schedule III, of the Bank Act (Canada);

         (ii)    the Business Development Bank incorporated under the Business
                 Development Bank Act (Canada);

         (iii)   a loan corporation or trust corporation registered under the
                 Loan and Trust Corporations Act or under the Trust and Loan
                 Companies Act (Canada), or under comparable legislation in any
                 other province or territory of Canada;

         (iv)    a co-operative credit society, credit union central, federation
                 of caisses populaires, credit union or league, or regional
                 caisse populaire, or an association under the Cooperative
                 Credit Associations Act (Canada), in each case located in
                 Canada;

         (v)     a company licensed to do business as an insurance company in
                 any province or territory of Canada;

         (vi)    a subsidiary of any company referred to in paragraph (i), (ii),
                 (iii), (iv) or (v), where the company owns all of the voting
                 shares of the subsidiary;

         (vii)   the Government of Canada or of any province or territory of
                 Canada, or any crown corporation, instrumentality or agency of
                 a Canadian federal, provincial or territorial government;

         (viii)  any Canadian municipality or any Canadian provincial or
                 territorial capital city;

         (ix)    any national, federal, state, provincial, territorial or
                 municipal government of or in any foreign jurisdiction, or any
                 instrumentality or agency thereof;

         (x)     a pension fund that is regulated by either the Office of the
                 Superintendent of Financial Institutions (Canada) or a
                 provincial pension commission or similar regulatory authority;

         (xi)    a registered charity under the Income Tax Act (Canada);

         (xii)   a promoter of the Company or an affiliated entity of a promoter
                 of the Company;

         (xiii)  a spouse, parent, grandparent or child of an officer, director
                 or promoter of the Company;

         (xiv)   a person that, in relation to the Company, is an affiliated
                 entity or a person referred to in clause (c) of the definition
                 of distribution in subsection 1(1) of the Securities Act
                 (Ontario);

<PAGE>

         (xv)    a person that is recognized by the Ontario Securities
                 Commission as an accredited investor;

         (xvi)   a mutual fund or non-redeemable investment fund that, in
                 Ontario, distributes its securities only to persons that are
                 accredited investors;

         (xvii)  a mutual fund or non-redeemable investment fund that, in
                 Ontario, distributes its securities under a prospectus for
                 which a receipt has been granted by the Ontario Securities
                 Commission;

         (xviii) a managed account (being an investment portfolio account of a
                 client established in writing with a portfolio adviser who
                 makes investment decisions for the account and has full
                 discretion to trade in securities of the account without
                 requiring the client's express consent to a transaction);

         (xix)   an account that is fully managed by a trust corporation
                 registered under the Loan and Trust Corporations Act (Ontario);
                 or

         (xx)    an entity organized outside of Canada that is analogous to any
                 of the entities referred to in paragraphs (i) through (vi),
                 item (iii) on the certificate to which this appendix is
                 attached and paragraph (x) in form and function.

<PAGE>

                         ACCREDITED INVESTOR CERTIFICATE

TO:               ADB SYSTEMS INTERNATIONAL INC. (THE "COMPANY")

RE:               SUBSCRIPTION FOR COMMON SHARE PURCHASE WARRANTS OF THE COMPANY

The undersigned Subscriber/officer of the Subscriber (or in the case of a trust,
the trustee or an officer of the trustee of the trust) hereby certifies that:

5.       he/she has read the subscription agreement and understands that the
         offering of common share purchase warrants to the Subscriber, is being
         made on a registration and prospectus exempt basis;

6.       the Subscriber is an "accredited investor" as that term is defined in
         Ontario Securities Commission Rule 45-501 "Exempt Distributions" by
         virtue of the Subscriber being:

[PLEASE CHECK ONE]

(i) ________    an individual who beneficially owns, or who together with a
                spouse beneficially owns, financial assets(3) having an
                aggregate realizable value that, before taxes but net of any
                related liabilities(4), exceeds $1,000,000

(ii) _______    an individual whose net income before taxes exceeded $200,000 in
                each of the two most recent years or whose net income before
                taxes combined with that of a spouse exceeded $300,000 in each
                of those years and who, in either case, has a reasonable
                expectation of exceeding the same net income level in the
                current year

(iii) ______    a person or company registered under the Securities Act
                (Ontario) or securities legislation in another jurisdiction as
                an adviser or dealer, other than a limited market dealer

(iv) _______    an individual who has been granted registration under the
                Securities Act (Ontario) or securities legislation in another
                jurisdiction as a representative of a company which is
                registered as a dealer or adviser, whether or not that
                individual's registration is still in effect

(v) ________    a company, limited partnership, limited liability partnership,
                trust or estate, other than a mutual fund or non-redeemable
                investment fund, that had net assets of at least $5,000,000 as
                reflected in its most recently prepared financial statements

(vi) _______    a person in respect of which all of the owners of interests,
                direct or indirect, legal or beneficial, are persons that are
                accredited investors.

--------
3 For the purposes of this certificate, the term "financial assets" means cash,
securities or any contract of insurance or deposit or evidence thereof that is
not a security for the purposes of the Securities Act (Ontario).

4 For the purposes of this certificate, the term "related liabilities" means:
liabilities incurred or assumed for the purposes of financing the acquisition or
ownership of financial assets and liabilities that are secured by financial
assets.

<PAGE>

(vii) _______   other _____________________________ [PLEASE INSERT EXEMPTION
                BEING RELIED UPON, AS REFERRED TO IN APPENDIX 1 TO THIS
                CERTIFICATE]

7. he/she: (a) if the Subscriber, is making the above statement based on
personal knowledge of his/her financial situation and has reviewed personal
financial documentation with an accountant, financial advisor or other financial
professional to determine the above statement is true; or (b) if other than the
Subscriber, is making the above statement based on a review of the financial
statements of the Subscriber for the most recently completed financial year and
any interim financial statements prepared since the end of such financial year
and has undertaken such other review and due diligence necessary to determine
and certify that the Subscriber is an "accredited investor" as that term is
defined in Ontario Securities Commission Rule 45-501 "Exempt Distributions"; and

8. he/she understands that the Company is relying on this certificate as
evidence of the Subscriber's status as an accredited investor in accordance with
Ontario Securities Commission Rule 45-501 and its companion policy.

DATED at __________________ this _________ day of _______________________, 2002.

                                       STONESTREET CORPORTAION
                                       Subscriber

                                       By:______________________________________
                                             Elizabeth Leonard
                                             Chief Operating Officer

<PAGE>

                                   APPENDIX 1

FOR THE PURPOSES OF SUBSCRIBING FOR COMMON SHARE PURCHASE WARRANTS OF ADB
SYSTEMS INTERNATIONAL INC., ALL INVESTORS RESIDENT IN OR OTHERWISE SUBJECT TO
THE LAWS OF THE PROVINCE OF ONTARIO RELYING ON THE "OTHER" CATEGORY OF
"ACCREDITED INVESTOR" ON THE CERTIFICATE TO WHICH THIS APPENDIX IS ATTACHED MUST
QUALIFY AS ONE OF THE FOLLOWING (PLEASE CIRCLE THE APPLICABLE PROVISION BELOW
AND INSERT SAME IN THE SPACE PROVIDED ON THE CERTIFICATE TO WHICH THIS APPENDIX
IS ATTACHED):

         (i)     a bank listed in Schedule I or II, or an authorized foreign
                 bank branch listed in Schedule III, of the Bank Act (Canada);

         (ii)    the Business Development Bank incorporated under the Business
                 Development Bank Act (Canada);

         (iii)   a loan corporation or trust corporation registered under the
                 Loan and Trust Corporations Act or under the Trust and Loan
                 Companies Act (Canada), or under comparable legislation in any
                 other province or territory of Canada;

         (iv)    a co-operative credit society, credit union central, federation
                 of caisses populaires, credit union or league, or regional
                 caisse populaire, or an association under the Cooperative
                 Credit Associations Act (Canada), in each case located in
                 Canada;

         (v)     a company licensed to do business as an insurance company in
                 any province or territory of Canada;

         (vi)    a subsidiary of any company referred to in paragraph (i), (ii),
                 (iii), (iv) or (v), where the company owns all of the voting
                 shares of the subsidiary;

         (vii)   the Government of Canada or of any province or territory of
                 Canada, or any crown corporation, instrumentality or agency of
                 a Canadian federal, provincial or territorial government;

         (viii)  any Canadian municipality or any Canadian provincial or
                 territorial capital city;

         (ix)    any national, federal, state, provincial, territorial or
                 municipal government of or in any foreign jurisdiction, or any
                 instrumentality or agency thereof;

         (x)     a pension fund that is regulated by either the Office of the
                 Superintendent of Financial Institutions (Canada) or a
                 provincial pension commission or similar regulatory authority;

         (xi)    a registered charity under the Income Tax Act (Canada);

         (xii)   a promoter of the Company or an affiliated entity of a promoter
                 of the Company;

         (xiii)  a spouse, parent, grandparent or child of an officer, director
                 or promoter of the Company;

         (xiv)   a person that, in relation to the Company, is an affiliated
                 entity or a person referred to in clause (c) of the definition
                 of distribution in subsection 1(1) of the Securities Act
                 (Ontario);
<PAGE>

         (xv)    a person that is recognized by the Ontario Securities
                 Commission as an accredited investor;

         (xvi)   a mutual fund or non-redeemable investment fund that, in
                 Ontario, distributes its securities only to persons that are
                 accredited investors;

         (xvii)  a mutual fund or non-redeemable investment fund that, in
                 Ontario, distributes its securities under a prospectus for
                 which a receipt has been granted by the Ontario Securities
                 Commission;

         (xviii) a managed account (being an investment portfolio account of a
                 client established in writing with a portfolio adviser who
                 makes investment decisions for the account and has full
                 discretion to trade in securities of the account without
                 requiring the client's express consent to a transaction);

         (xix)   an account that is fully managed by a trust corporation
                 registered under the Loan and Trust Corporations Act (Ontario);
                 or

         (xx)    an entity organized outside of Canada that is analogous to any
                 of the entities referred to in paragraphs (i) through (vi),
                 item (iii) on the certificate to which this appendix is
                 attached and paragraph (x) in form and function.

<PAGE>

                                   SCHEDULE 3

                           THE TORONTO STOCK EXCHANGE

                 PRIVATE PLACEMENT QUESTIONNAIRE AND UNDERTAKING

To be completed by each proposed private placement purchaser of listed
securities or securities which are convertible into listed securities.

                                  QUESTIONNAIRE

1.       DESCRIPTION OF TRANSACTION

(a)      Name of Issuer of the Securities -  ADB Systems International Inc.

(b)      Number and Class of Securities to be Purchased -

         Series A 8% convertible secured note in the principal amount of
         $408,000 ("Series A Note"), convertible at the holder's option at any
         time after approval of shareholders of the issuer until the maturity
         date of December 31, 2004 for units at $0.12 per unit. Each unit
         consists of one common share of the issuer and one half of one common
         share purchase warrant. Each whole warrant entitles the holder thereof
         to purchase one common share of the issuer at $0.14 per share at any
         time prior to 5:00 p.m. on December 31, 2004.

         Series B 8% convertible secured note in the principal amount of
         $216,000 ("Series B Note") convertible at the holder's option at any
         time after December 20, 2002 until the maturity date of December 31,
         2004 for units at $0.12 per unit. Each unit consists of one common
         share of the issuer and one half of one common share purchase warrant.
         Each whole warrant entitles the holder thereof to purchase one common
         share of the issuer at $0.14 per share at any time prior to 5:00 p.m.
         on December 31, 2004.

         Series C convertible secured note in the principal amount of $120,000
         ("Series C Note") convertible at the holder's option at any time after
         December 20, 2002 for common share of the issuer at $0.12 per share
         until the maturity date December 31, 2004.

(c)      Purchase Price - Advance of the principal amounts for the Series A Note
         and Series B Note in the aggregate of $624,000. Series C Note is issued
         as payment for a termination fee owed by the Company to the purchaser
         for terminating certain previous obligations by the issuer in favour of
         the purchaser.

2.       DETAILS OF PURCHASER

(a)      Name of Purchaser - Stonestreet Limited Partnership

(b)      Address - 320 Bay Street, Suite 1300, Toronto, Ontario, M5H 4A6
<PAGE>

(c)      Names and addresses of persons having a greater than 10% beneficial
         interest in the purchaser-
         Stonestreet Corporation, General Partner of Stonestreet Limited
         Partnership 320 Bay Street, Suite 1300, Toronto, Ontario, M5H 4A6

3.       RELATIONSHIP TO ISSUER

(a)      Is the purchaser (or any person named in response to 2(c) above) an
         insider of the issuer for the purposes of the Securities Act (Ontario)
         (before giving effect to this private placement)? If so, state the
         capacity in which the purchaser (or person named in response to 2(c))
         qualifies as an insider -

         No.

(b)      If the answer to (a) is "no", are the purchaser and the issuer
         controlled by the same person or company? If so, give details -

         No.

4.       DEALINGS OF PURCHASER IN SECURITIES OF THE ISSUER

         Give details of all trading by the purchaser, as principal, in the
         securities of the issuer (other than debt securities which are not
         convertible into equity securities), directly or indirectly, within the
         sixty (60) days preceding the date hereof -

         None

<PAGE>

                                   UNDERTAKING

TO:      TORONTO STOCK EXCHANGE

THE UNDERSIGNED has subscribed for and agreed to purchase, as principal, the
securities described in Item 1 of the Private Placement Questionnaire and
Undertaking.

THE UNDERSIGNED undertakes not to sell or otherwise dispose of any of the said
securities so purchased or any securities derived therefrom for a period of four
(4) months from the date of closing of the transaction herein or for such period
as is prescribed by applicable securities legislation, whichever is longer,
without the prior consent of the Toronto Stock Exchange and any other regulatory
body having jurisdiction.

DATED at ____________________ this _________ day of _____________________, 2002.

                                     STONESTREET LIMITED PARTNERSHIP, by its
                                     general partner, Stonestreet Corporation
                                     Name of Purchaser (please print)

                                     ___________________________________________
                                     Authorized Signature

                                     President
                                     ___________________________________________
                                     Official Capacity (please print)

                                     Michael Finkelstein
                                     ___________________________________________
                                     Please print here name of individual whose
                                     signature appears above, if different from
                                     name of purchaser printed above

<PAGE>

                 PRIVATE PLACEMENT QUESTIONNAIRE AND UNDERTAKING

To be completed by each proposed private placement purchaser of listed
securities or securities which are convertible into listed securities.

                                  QUESTIONNAIRE

1.       DESCRIPTION OF TRANSACTION

(b)      Name of Issuer of the Securities - ADB Systems International Inc.

(b)      Number and Class of Securities to be Purchased -

         150,000 common share purchase warrants, each warrant entitling the
         holder thereof to purchase one common share of the issuer at $0.14 per
         share at any time from December 22, 2002 up to 5:00 p.m. on December
         31, 2004.

(c)      Purchase Price - N/A.

2.       DETAILS OF PURCHASER

(a)      Name of Purchaser - Stonestreet Corporation

(b)      Address - 320 Bay Street, Suite 1300, Toronto, Ontario, M5H 4A6

(c)      Names and addresses of persons having a greater than 10% beneficial
interest in the purchaser -

1.       Elizabeth Leonard, 15 Blanchard Road, Toronto, Ontario M4N 3M1

2.       Michael Finkelstein, 31 Kenton Drive, North York, Ontario

3.       Mitchell Sanders, _____________________________________________________

4.       _______________________________________________________________________

3.       RELATIONSHIP TO ISSUER

(a)      Is the purchaser (or any person named in response to 2(c) above) an
         insider of the issuer for the purposes of the Securities Act (Ontario)
         (before giving effect to this private placement)? If so, state the
         capacity in which the purchaser (or person named in response to 2(c))
         qualifies as an insider -

         No.

<PAGE>

(b)      If the answer to (a) is "no", are the purchaser and the issuer
         controlled by the same person or company? If so, give details -

         No.

4.       DEALINGS OF PURCHASER IN SECURITIES OF THE ISSUER

         Give details of all trading by the purchaser, as principal, in the
         securities of the issuer (other than debt securities which are not
         convertible into equity securities), directly or indirectly, within the
         sixty (60) days preceding the date hereof -

         None

<PAGE>

                                   UNDERTAKING

TO:      TORONTO STOCK EXCHANGE

THE UNDERSIGNED has subscribed for and agreed to purchase, as principal, the
securities described in Item 1 of the Private Placement Questionnaire and
Undertaking.

THE UNDERSIGNED undertakes not to sell or otherwise dispose of any of the said
securities so purchased or any securities derived therefrom for a period of four
(4) months from the date of closing of the transaction herein or for such period
as is prescribed by applicable securities legislation, whichever is longer,
without the prior consent of the Toronto Stock Exchange and any other regulatory
body having jurisdiction.

DATED at ________________________ this _________ day of _________________, 2002.

                             STONESTREET CORPORATION
                             Name of Purchaser (please print)

                             ---------------------------------------------------
                             Authorized Signature

                             President
                             ---------------------------------------------------
                             Official Capacity (please print)

                             Michael Finkelstein
                             ---------------------------------------------------
                             Please print here name of individual whose
                             signature appears above, if different from name of
                             purchaser printed above

<PAGE>

                                    EXHIBIT A

                              FORM OF SERIES A NOTE

<PAGE>

                                    EXHIBIT B

                              FORM OF SERIES B NOTE

<PAGE>

                                    EXHIBIT C

                    FORM OF TERMINATION AND WAIVER AGREEMENT

<PAGE>

                                    EXHIBIT D

                                 FORM OF WARRANT

<PAGE>

                                    EXHIBIT E

                       FORM OF GENERAL SECURITY AGREEMENT

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