Document:

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                                                          EXHIBIT 10.8

                          AGREEMENT AND PLAN OF MERGER

                                      AMONG

                            ARTRA GROUP INCORPORATED,

                       WORLDWIDE WEB NETWORX CORPORATION,

                              NA ACQUISITION CORP.

                                       AND

                          WWWX MERGER SUBSIDIARY, INC.

                          DATED AS OF FEBRUARY 23, 1999

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                                TABLE OF CONTENTS

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ARTICLE 1 -       THE MERGER......................................................................................2
         1.1      The Merger......................................................................................2
         1.2      Effective Time..................................................................................2
         1.3      The Closing.....................................................................................2
         1.4      Directors.......................................................................................3
         1.5      Officers........................................................................................3
         1.6      Options and Other Rights to Purchase Artra Common Stock.........................................3
         1.7      Dissenters Rights...............................................................................3

ARTICLE 2 -       REPRESENTATIONS AND WARRANTIES OF WWWX,..........................................................
THE ACQUISITION CORP. AND THE MERGER SUB..........................................................................4

         2.1      Existence; Good Standing; Corporate Authority...................................................4
         2.2      Authorization, Validity and Effect of Agreements................................................5
         2.3      Capitalization..................................................................................5
         2.4      Subsidiaries....................................................................................5
         2.5      Other Interests.................................................................................6
         2.6      Financial Condition.............................................................................6
         2.7      Title to Properties.............................................................................6
         2.8      Absence of Undisclosed Liabilities..............................................................7
         2.9      Material Contracts..............................................................................7
         2.10     Intangible Assets...............................................................................7
         2.11     No Conflict; Required Filings and Consents......................................................9
         2.12     Litigation......................................................................................9
         2.13     Taxes..........................................................................................10
         2.14     Employee Benefit Plans.........................................................................10
         2.15     Labor Matters..................................................................................11
         2.16     Insurance......................................................................................11
         2.17     No Brokers.....................................................................................11

ARTICLE 3 -       REPRESENTATIONS AND WARRANTIES OF ARTRA........................................................11
         3.1      Existence; Good Standing; Corporate Authority..................................................12
         3.2      Authorization, Validity and Effect of Agreements...............................................12
         3.3      Capitalization.................................................................................12
         3.4      Subsidiaries...................................................................................13
         3.5      Other Interests................................................................................13
         3.6      No Conflict; Required Filings and Consents.....................................................13
         3.7      SEC Documents..................................................................................14
         3.8      Title to Properties............................................................................15
         3.9      Absence of Undisclosed Liabilities.............................................................15
         3.10     Material Contracts.............................................................................15
         3.11     Litigation.....................................................................................16
         3.12     Absence of Certain Changes.....................................................................16

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         3.13     Taxes..........................................................................................16
         3.14     Employee Benefit Plans.........................................................................17
         3.15     Labor Matters..................................................................................17
         3.16     Insurance......................................................................................17
         3.17     No Brokers.....................................................................................18

ARTICLE 4 -       COVENANTS......................................................................................18
         4.1      Alternative Proposals..........................................................................18
         4.2      Interim Operations.............................................................................19
         4.3      Meetings of Stockholders.......................................................................20
         4.4      Filings, Other Action..........................................................................21
         4.5      Inspection of Records..........................................................................21
         4.6      Publicity......................................................................................21
         4.7      Registration Statements........................................................................22
         4.8      Listing Application. ..........................................................................23
         4.9      Further Action.................................................................................23
         4.10     Affiliate Letters..............................................................................23
         4.11     Expenses.......................................................................................24
         4.12     Takeover Statute...............................................................................24
         4.13     Conveyance Taxes...............................................................................24
         4.14     Entrade Funding................................................................................24
         4.15     Section 351 Qualification......................................................................24
         4.16     "Lock-Up" Provisions...........................................................................24

ARTICLE 5 -       CONDITIONS.....................................................................................25
         5.1      Conditions to Each Party's Obligation to Effect the Merger.....................................25

         5.2      Conditions to Obligation of WWWX, the Acquisition Corp.

                  and the Merger Sub to Effect the Merger........................................................26
         5.3      Conditions to Obligation of Artra to Effect the Merger.........................................27

ARTICLE 6 -       TERMINATION....................................................................................28
         6.1      Termination by Mutual Consent..................................................................28
         6.2      Termination by Either Artra or WWWX............................................................28
         6.3      Termination by WWWX............................................................................28
         6.4      Termination by Artra...........................................................................29
         6.5      Effect of Termination and Abandonment..........................................................29
         6.6      Extension, Waiver..............................................................................30

ARTICLE 7 -       SURVIVAL OF REPRESENTATIONS AND..................................................................
WARRANTIES, INDEMNIFICATION......................................................................................30

         7.1      Survival of Representations and Warranties.....................................................30
         7.2      Indemnification................................................................................30
         7.3      Procedure for Claims...........................................................................30
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         7.4      Third Party Claims.............................................................................31

ARTICLE 8 -       GENERAL PROVISIONS.............................................................................31
         8.1      Notices........................................................................................31
         8.2      Assignment; Binding Effect.....................................................................32
         8.3      Entire Agreement...............................................................................32
         8.4      Amendment......................................................................................32
         8.5      Governing Law..................................................................................32
         8.6      Counterparts...................................................................................33
         8.7      Headings.......................................................................................33
         8.8      Interpretation.................................................................................33
         8.9      Waivers........................................................................................33
         8.10     Incorporation..................................................................................33
         8.11     Severability...................................................................................33
         8.12     Enforcement of Agreement.......................................................................33
         8.13     Subsidiaries...................................................................................34

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                          AGREEMENT AND PLAN OF MERGER

         AGREEMENT AND PLAN OF MERGER (this "Agreement") dated as of February
23, 1999 among Artra Group Incorporated ("Artra"), a Pennsylvania corporation;
WorldWide Web NetworX Corporation ("WWWX"), a Delaware corporation; NA
Acquisition Corp. (the "Acquisition Corp."), a Pennsylvania corporation and a
wholly owned subsidiary of WWWX; and WWWX Merger Subsidiary, Inc. (the "Merger
Sub"), a Pennsylvania corporation and a wholly owned subsidiary of the
Acquisition Corp.

                                    RECITALS:

         The Boards of Directors of Artra and WWWX have approved and deem it
advisable and in the best interests of their respective companies and
shareholders to consummate the merger (the "Merger") described in this
Agreement. Pursuant to the Merger, the Merger Sub will merge into Artra, which
will result in Artra becoming a wholly owned subsidiary of the Acquisition
Corp., and the outstanding shares of Common Stock and Preferred Stock of Artra
will be converted into shares of Common Stock of the Acquisition Corp. on a
share-for-share basis.

         For federal income tax purposes, it is intended that the Merger qualify
as an exchange under the provisions of Section 351 of the United States Internal
Revenue Code of 1986, as amended (the "Code").

         On February 23, 1999, the Acquisition Corp. acquired from WWWX all of
the assets formerly held by BarterOne, LLC ("BarterOne"), a Delaware limited
liability company acquired by WWWX and dissolved prior to the date hereof (the
"BarterOne Assets"), and 25% of the outstanding shares of Class A voting common
stock of AsseTrade.com, Inc. ("AsseTrade"), a Delaware corporation. Also on the
date hereof, the Acquisition Corp. is acquiring certain retained interests of
Energy Trading Company ("ETCO"), a Delaware corporation, arising out of the sale
of its membership interest in BarterOne to WWWX. Concurrently with the execution
and delivery of this Agreement, and in order to induce WWWX and the Acquisition
Corp. to enter into this Agreement, Artra is entering into a Loan Agreement (the
"Loan Agreement") with the Acquisition Corp. Pursuant to the Loan Agreement,
Artra will lend the Acquisition Corp. up to $2,000,000 to purchase the BarterOne
Assets and the AsseTrade interests, and to finance the working capital needs of
its business operations related to the BarterOne Assets (referred to herein as
"Entrade").

         NOW, THEREFORE, in consideration of the foregoing, and the
representations, warranties, covenants and agreements set forth in this
Agreement, the parties hereto, intending to be legally bound, hereby agree as
follows:

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                                    ARTICLE 1

                                   THE MERGER

         1.1 THE MERGER. Pursuant to the Plan of Merger in the form of Exhibit A
hereto (the "Plan of Merger"), at the Effective Time, the Merger Sub shall be
merged with and into Artra (the "Merger") in accordance with the applicable
provisions of the laws of the Commonwealth of Pennsylvania. Artra shall be the
surviving corporation in the Merger and shall continue its corporate existence
under the laws of the Commonwealth of Pennsylvania. As a result of the Merger,
Artra shall become a wholly owned subsidiary of the Acquisition Corp. At the
Effective Time: (a) each outstanding share of Common Stock, no par value, of
Artra ("Artra Common Stock") shall be converted into one share of Common Stock,
no par value, of the Acquisition Corp. ("Acquisition Corp. Common Stock"); (b)
each outstanding share of Series A Preferred Stock, $1,000 par value, of Artra
("Artra Preferred Stock") shall be converted into 329 shares of Acquisition
Corp. Common Stock; (c) each share of Artra Common Stock held as treasury stock
shall be canceled; and (d) each outstanding share of Common Stock, $.01 par
value, of the Merger Sub shall be canceled. Upon such conversion, all
outstanding shares of Artra Common Stock and Artra Preferred Stock shall be
canceled and cease to exist, each certificate theretofore representing any
shares of Artra Common Stock shall, without any action on the part of the holder
thereof, be deemed to represent an equivalent number of shares of Acquisition
Corp. Common Stock and each certificate theretofore representing any shares of
Artra Preferred Stock shall, without any action on the part of the holder
thereof, be deemed to represent 329 shares of Acquisition Corp. Common Stock for
each share of Artra Preferred Stock. No fractional shares of Acquisition Corp.
Common Stock and no scrip or certificates therefor will be issued in connection
with the Merger. Any former holder of Artra Common Stock or Artra Preferred
Stock who would otherwise be entitled to receive a fraction of a share of
Acquisition Corp. Common Stock shall receive, in lieu thereof, a check for cash
in an amount equal to such fraction of a share multiplied by the closing price
of Acquisition Corp. Common Stock on the New York Stock Exchange ("NYSE") (or
other applicable exchange as hereinafter provided) on the first day Acquisition
Corp. Common Stock is traded after the Effective Time (hereinafter defined).

         1.2 EFFECTIVE TIME. The term "Effective Time" shall mean the time and
date which is (A) the date and time of the filing of the articles of merger
relating to the Merger with the Secretary of the Commonwealth of Pennsylvania
(or such other date and time as may be specified in such certificate as may be
permitted by law) or (B) such other time and date as Artra and WWWX may agree.

         1.3 THE CLOSING. Subject to the terms and conditions of this Agreement,
the closing of the transactions described in this Agreement (the "Closing")
shall take place (a) at the offices of Duane, Morris & Heckscher LLP, One
Liberty Place, 1650 Market Street, Philadelphia, Pennsylvania 19103-7396, at
10:00 a.m., local time, on the first business day following the day on which the
last to be fulfilled or waived of the conditions set forth in Article 5 shall be
fulfilled or waived in accordance herewith or (b) at such other time, date or
place as Artra and WWWX may agree. The date on which the Closing occurs is
hereinafter referred to as the "Closing Date."

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         1.4 DIRECTORS. The directors of Artra immediately prior to the
Effective Time shall resign as directors of Artra and shall become the directors
of the Acquisition Corp. as of the Effective Time and until their successors are
duly appointed or elected in accordance with applicable law. For as long as
WWWX's percentage ownership of Acquisition Corp. Common Stock calculated on a
fully diluted basis is at least 5%, Acquisition Corp. shall use its best efforts
to cause the designee nominated by WWWX and mutually acceptable to WWWX and the
Board of Directors of Acquisition Corp., who shall initially be Robert D. Kohn,
to be elected to the Board of Directors of Acquisition Corp.

         1.5 OFFICERS. The officers of Artra immediately prior to the Effective
Time shall resign as officers of Artra and shall become the officers of the
Acquisition Corp. as of the Effective Time and until their successors are duly
appointed in accordance with applicable law.

         1.6 OPTIONS AND OTHER RIGHTS TO PURCHASE ARTRA COMMON STOCK. At the
Effective Time, each outstanding option, warrant or right to purchase shares of
Artra Common Stock (an "Artra Option") shall be assumed in such manner that it
is converted into an option, warrant or right to purchase shares of Acquisition
Corp. Common Stock (an "Acquisition Corp. Option"). Each such Acquisition Corp.
Option shall be exercisable upon the same terms and conditions as then are
applicable to such Artra Option. It is the intention of the parties that, to the
extent that any such Artra Option constituted an "incentive stock option"
(within the meaning of Section 422 of the Code) immediately prior to the
Effective Time, such option continue to qualify as an incentive stock option to
the maximum extent permitted by Section 422 of the Code, and that the assumption
of the Artra Options provided by this Section 1.6 satisfy the conditions of
Section 424(a) of the Code. At the Effective Time, the Acquisition Corp. shall
assume all rights and obligations of Artra under Artra's stock option plans as
in effect at the Effective Time and shall continue such plans in accordance with
their terms.

         1.7      DISSENTERS RIGHTS.

                  (1) The holders of shares of Artra Common Stock shall not be
entitled to appraisal rights under the Pennsylvania Business Corporation Law
(the "PBCL").

                  (2) Notwithstanding anything in this Agreement to the
contrary, any shares of Artra Preferred Stock that are issued and outstanding as
of the Effective Time and that are held by a shareholder who has exercised and
has not failed to perfect or effectively withdrawn or lost his right (to the
extent such right is available by law) to demand and to receive the "fair value"
of such shares (the "Dissenting Shares") under the PBCL shall not be converted
into shares of Acquisition Corp. Common Stock unless and until the holder shall
have failed to perfect, or shall have effectively withdrawn or lost his right to
dissent from the Merger under the PBCL and to receive such consideration as may
be determined to be due with respect to such Dissenting Shares pursuant to and
subject to the requirements of the PBCL. If any such holder shall have so failed
to perfect or have effectively withdrawn or lost such right, each share of such
holder's Artra Preferred Stock shall

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thereupon be deemed to have been converted into and to have become, as of the
Effective Time, 329 shares of Acquisition Corp. Common Stock. Artra shall give
the Acquisition Corp. (i) prompt notice of any notice or demand for appraisal or
payment for shares of Artra Preferred Stock received by Artra and (ii) the
opportunity to participate in and direct all negotiations and proceedings with
respect to any such demands or notices. Any payment required to be made to an
Artra Preferred Stockholder shall be an obligation of Artra.

                                    ARTICLE 2

                     REPRESENTATIONS AND WARRANTIES OF WWWX,
                    THE ACQUISITION CORP. AND THE MERGER SUB

         Except as set forth in the disclosure letter delivered to Artra at or
prior to the execution hereof (the "Acquisition Corp. Disclosure Letter"), WWWX,
the Acquisition Corp. and the Merger Sub jointly and severally represent and
warrant to Artra as of the date of this Agreement as follows:

         2.1 EXISTENCE; GOOD STANDING; CORPORATE AUTHORITY. Each of WWWX, the
Acquisition Corp. and the Merger Sub, and each of their respective Subsidiaries,
is a corporation or limited liability company duly incorporated, validly
existing and in good standing under the laws of its jurisdiction of
incorporation or organization. Each of WWWX, the Acquisition Corp. and the
Merger Sub, and each of their respective Subsidiaries, is duly licensed or
qualified to do business as a foreign corporation and is in good standing under
the laws of any other state of the United States in which the character of the
properties owned or leased by it or in which the transaction of its business
makes such qualification necessary, except where the failure to be so qualified
or to be in good standing would not have a material adverse effect on the
business, results of operations or financial condition of the Acquisition Corp.
and its Subsidiaries (a "WWWX Material Adverse Effect"). Each of WWWX, the
Acquisition Corp. and the Merger Sub, and each of their respective Subsidiaries,
has all requisite corporate power and authority to own, operate and lease its
properties and carry on its business as now conducted. The copies of the
Articles or Certificates of Incorporation and Bylaws, Operating Agreements
and/or other applicable governing documents of WWWX, the Acquisition Corp., the
Merger Sub, and each of their respective Subsidiaries, previously made available
to Artra, are true and correct and have not been modified or amended except as
set forth therein.

         2.2 AUTHORIZATION, VALIDITY AND EFFECT OF AGREEMENTS. Each of WWWX, the
Acquisition Corp. and the Merger Sub has the requisite corporate power and
authority to execute and deliver this Agreement and all agreements and documents
to be executed by it as described herein. Subject only to the approval of this
Agreement and the transactions described herein by the holders of WWWX voting
securities, the consummation by WWWX, the Acquisition Corp. and the Merger Sub
of the transactions described herein has been duly authorized by all requisite
corporate action. This Agreement constitutes, and all agreements and documents
described herein (when executed and delivered pursuant hereto for value
received) will constitute, the valid and binding obligations of WWWX, the
Acquisition Corp. and the Merger Sub enforceable in accordance with their
respective terms, subject to applicable bankruptcy, insolvency, moratorium or
other similar laws relating to creditors' rights and general principles of
equity.

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         2.3 CAPITALIZATION. The authorized capital stock of WWWX consists of
100,000,000 shares of Common Stock, $.001 par value, of which 11,035,186 shares
are issued and outstanding. The authorized capital stock of the Acquisition
Corp. consists of 40,000,000 shares of Acquisition Corp. Common Stock, no par
value, of which 2,000,000 shares are issued and outstanding, and 4,000,000
shares of Preferred Stock, $1,000 par value, of which no shares are outstanding.
The authorized capital stock of the Merger Sub consists of 1000 shares of Common
Stock, of which 100 shares are issued and outstanding. Neither the Acquisition
Corp. nor the Merger Sub has any outstanding bonds, debentures, notes or other
obligations the holders of which have the right to vote (or which are
convertible into or exercisable for securities having the right to vote) with
the shareholders of the Acquisition Corp. or the Merger Sub on any matter. All
issued and outstanding shares of Acquisition Corp. Common Stock are duly
authorized, validly issued, fully paid, nonassessable and free of preemptive
rights, and are owned of record and beneficially by WWWX. All issued and
outstanding shares of Common Stock of the Merger Sub are duly authorized,
validly issued, fully paid, nonassessable and free of preemptive rights and are
owned of record and beneficially by the Acquisition Corp. Except as set forth in
the Acquisition Corp. Disclosure Letter, there are not at the date of this
Agreement any existing options, warrants, calls, subscriptions, convertible
securities, or other rights, agreements or commitments which obligate the
Acquisition Corp. or any of its Subsidiaries to issue, transfer or sell any
shares of their respective capital stock or membership interests.

         2.4 SUBSIDIARIES. Except as set forth in the Acquisition Corp.
Disclosure Letter, the Acquisition Corp. owns directly or indirectly all of the
outstanding shares of capital stock (or other ownership interests having by
their terms ordinary voting power to elect a majority of directors or others
performing similar functions with respect to such Acquisition Corp. Subsidiary)
of each of the Acquisition Corp.'s Subsidiaries, free and clear of all liens,
pledges, security interests, claims or other encumbrances other than liens
imposed by local law which are not material. Each of the outstanding shares of
capital stock or other equity interest of each of the Acquisition Corp.'s
Subsidiaries is duly authorized, validly issued, fully paid and nonassessable.
The following information for each Subsidiary of the Acquisition Corp. has been
previously provided to Artra: (i) its name and jurisdiction of incorporation or
organization; (ii) its authorized capital stock or total equity capital; and
(iii) the number of issued and outstanding shares of capital stock or total
equity capital.

         2.5 OTHER INTERESTS. Except for interests in the Acquisition Corp.
Subsidiaries, neither the Acquisition Corp. nor any Acquisition Corp. Subsidiary
owns directly or indirectly any interest or investment (whether equity or debt)
in any corporation, partnership, joint venture, business, trust or entity (other
than non-controlling investments in the ordinary course of business and
corporate partnering, development, cooperative marketing and similar
undertakings or arrangements entered into in the ordinary course of business).

         2.6 FINANCIAL CONDITION. Set forth in the Acquisition Corp. Disclosure
Letter are true and complete lists of the assets and liabilities of the
Acquisition Corp. on the date hereof and as anticipated to exist at the
Effective Time of the Merger. The Entrade Business Plan and AsseTrade

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Business Plan delivered to Artra together present fairly the financial
condition, results of operations, business, properties, assets, liabilities and
future prospects of the Acquisition Corp. and the Acquisition Corp. Subsidiaries
as of the dates thereof and for the periods indicated therein, there has been no
material adverse change in the financial condition or future prospects of the
Acquisition Corp. or the Acquisition Corp. Subsidiaries as reflected therein,
and no fact is known to WWWX or the Acquisition Corp. that materially adversely
affects or in the future may materially adversely affect the financial condition
or future prospects of the Acquisition Corp. or any Acquisition Corp.
Subsidiary.

         2.7 TITLE TO PROPERTIES. Except as set forth in the Acquisition Corp.
Disclosure Letter, the Acquisition Corp. and each of the Acquisition Corp.
Subsidiaries owns outright, and has good and marketable title to, all of its
assets, including without limitation all computer software and related technical
information and other intellectual property rights necessary to conduct the
Entrade business, free and clear of all liens, pledges, mortgages, security
interests, conditional sales contracts or other encumbrances or conflicting
claims of any nature whatsoever. None of such assets are subject to restrictions
with respect to the transferability thereof and the Acquisition Corp.'s title
thereto will not be affected in any way by the transactions described in the
Agreement. WWWX has complete and unrestricted power and right to sell such
assets to the Acquisition Corp. Neither the Acquisition Corp. nor any of its
Subsidiaries owns any real property or any interest in real property.

         2.8 ABSENCE OF UNDISCLOSED LIABILITIES. Neither the Acquisition Corp.
nor any Acquisition Corp. Subsidiary has any material liabilities, obligations
or guaranties accrued, absolute, contingent or otherwise, except as disclosed in
the Acquisition Corp. Disclosure Letter.

         2.9 MATERIAL CONTRACTS. The Acquisition Corp. Disclosure Letter
contains a true and correct list of each contract, agreement, commitment or
obligation (a) which involves or may involve the payment to or from the
Acquisition Corp. or any Acquisition Corp. Subsidiary of amounts in excess of
$100,000 per year, (b) any license, franchise or distribution agreement, which
involves or may involve payments to or from the Acquisition Corp. or any
Acquisition Corp. Subsidiary in excess of $100,000 per year, (c) any lease of
tangible personal property, which involves or may involve payments to or from
the Acquisition Corp. or any Acquisition Corp. Subsidiary in excess of $100,000
per year and (d) any contract between the Acquisition Corp. or any of its
Subsidiaries and any affiliate of WWWX, the Acquisition Corp. or any of their
Subsidiaries (collectively the "Acquisition Corp. Material Contracts"). Each of
the Acquisition Corp. Material Contracts constitutes a valid and binding
obligation of the parties thereto, is in full force and effect and will continue
in full force and effect following the consummation of the transactions
described herein and thereby, in each case without breaching the terms thereof
or resulting in the forfeiture or impairment of any rights thereunder and
without the consent, approval or act of, or the making of any filing with, any
other party (except as set forth in the Acquisition Corp. Disclosure Letter).
Neither the Acquisition Corp. nor any Acquisition Corp. Subsidiary is in, or to
the knowledge of WWWX or the Acquisition Corp. alleged to be in, breach or
default under, nor is there or is there alleged to be any basis for termination
of, any Acquisition Corp. Material Contract and, to the knowledge of WWWX and
the Acquisition Corp., no other party to any Acquisition Corp. Material Contract
has breached or

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defaulted thereunder, and no event has occurred and no condition or state of
facts exists which, with the passage of time or the giving of notice or both,
would constitute such a default or breach by the Acquisition Corp., any
Acquisition Corp. Subsidiary or, to the knowledge of WWWX and the Acquisition
Corp., by any such other party. Neither the Acquisition Corp. nor any
Acquisition Corp. Subsidiary is currently renegotiating any Acquisition Corp.
Material Contract or paying liquidated damages in lieu of the performance
thereunder.

         2.10 INTANGIBLE ASSETS. The Acquisition Corp. Disclosure Letter sets
forth a list of (a) all patents, copyrights, trade names, trademarks, service
marks and names (registered or unregistered), and applications and registrations
therefor, (b) all research, development and commercially practiced processes,
trade secrets, know-how, inventions, and engineering and other technical
information, (c) all computer programs, software and data bases, (d) all
information, drawings, specifications, designs, plans, financial, marketing and
business data and plans, other proprietary, confidential or intellectual
information or property and all copies and embodiments thereof in whatever form
or medium and (e) all customer and membership lists owned by or licensed to the
Acquisition Corp. or any Acquisition Corp. Subsidiary (items (a) through (e) are
defined, collectively, as "Intangible Assets") as well as a list of all
registrations thereof and pending applications therefor. Each of the Intangible
Assets owned by the Acquisition Corp. or any Acquisition Corp. Subsidiary is
owned free and clear of any and all liens and encumbrances and, to the knowledge
of WWWX and the Acquisition Corp., no other Person or entity has any claim of
ownership with respect thereto. The Acquisition Corp. and each Acquisition Corp.
Subsidiary has adequate licenses or other valid rights to use all of the
Intangible Assets that it does not own and that are material to the conduct of
its business as currently proposed. To the knowledge of WWWX and the Acquisition
Corp., the use of the Intangible Assets by the Acquisition Corp. or any
Acquisition Corp. Subsidiary does not and will not conflict with, infringe upon,
violate or interfere with any intellectual property rights or claimed
intellectual property rights of any other Person or entity, nor, to the
knowledge of WWWX and the Acquisition Corp., is any other Person or entity
infringing upon, violating or interfering with any intellectual property rights
or claimed intellectual property rights of the Acquisition Corp. or any
Acquisition Corp. Subsidiary. Neither WWWX, the Acquisition Corp. nor any
Acquisition Corp. Subsidiary has received notice of any claim of infringement or
violation of any third party's copyrights, patents, trade secrets, trademarks or
other proprietary rights relating to the Intangible Assets nor, to the knowledge
of WWWX or the Acquisition Corp., is there any basis for any such claim of right
or interest in the Intangible Assets or otherwise adverse to the Acquisition
Corp.'s or any Acquisition Corp. Subsidiary's unqualified right to exclusively
own and fully utilize any of the Intangible Assets. To the knowledge of WWWX and
the Acquisition Corp., there are no pending or threatened suits, legal
proceedings, claims or governmental investigations against or with respect to
any of the Intangible Assets or any component thereof. Each of the Intangible
Assets will perform in substantial conformity with its specifications as
identified in any and all documentation provided to Artra. To the knowledge of
WWWX and the Acquisition Corp., the Intangible Assets do not and will not
contain any "backdoor" or concealed access or any "software locks" or any
similar devices which, upon the occurrence of a certain event, the passage of a
certain amount of time, or the taking of any action (or the failure to take any
action) by or on behalf of any Person or entity, will cause any of the
Intangible Assets to be destroyed, erased, damaged or otherwise made inoperable.
To the knowledge

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of WWWX and the Acquisition Corp., the Intangible Assets are and will be free
from defects in operation or otherwise relating to the year 2000, date data
century recognition calculations that accommodate same century and multi-century
formulas and date values, and century correct date data interface values, and
will accurately process date and time data (including but not limited to,
calculation, comparing and sequencing) from, into and between the twentieth and
twenty-first centuries, and the years 1999 and 2000 and leap year calculation,
and, to the knowledge of WWWX and the Acquisition Corp., when used in
combination with other information technology, will accurately process date and
time data if the other information technology exchanges date and time data with
it.

         2.11     NO CONFLICT; REQUIRED FILINGS AND CONSENTS.

                  (a) The execution and delivery of this Agreement by WWWX, the
Acquisition Corp. and the Merger Sub do not, and the consummation by WWWX, the
Acquisition Corp. and the Merger Sub of the transactions described herein will
not, (i) conflict with or violate the certificate of incorporation or by-laws or
equivalent organizational documents of WWWX, the Acquisition Corp., the Merger
Sub or any of their Subsidiaries, (ii) conflict with or violate any law, rule,
regulation, order, judgment or decree applicable to WWWX, the Acquisition Corp.,
the Merger Sub or any of their Subsidiaries or by which any property or asset of
WWWX, the Acquisition Corp., the Merger Sub or any of their Subsidiaries is
bound or affected, or (iii) result in any breach of or constitute a default (or
an event which with notice or lapse of time or both would become a default)
under, result in the loss of a material benefit under, or give to others any
right of purchase or sale, or any right of termination, amendment, acceleration,
increased payments or cancellation of, or result in the creation of a lien or
other encumbrance on any property or asset of WWWX, the Acquisition Corp., the
Merger Sub or any of their Subsidiaries pursuant to, any note, bond, mortgage,
indenture, contract, agreement, lease, license, permit, franchise or other
instrument or obligation to which WWWX, the Acquisition Corp., the Merger Sub or
any of their Subsidiaries is a party or by which WWWX, the Acquisition Corp.,
the Merger Sub or any of their Subsidiaries or any property or asset of WWWX,
the Acquisition Corp., the Merger Sub or any of their Subsidiaries is bound or
affected, , in each case except for any such defaults or violations that would
not, individually or in the aggregate, have a WWWX Material Adverse Effect.
WWWX, the Acquisition Corp., the Merger Sub and their Subsidiaries have obtained
all licenses, permits and other authorizations and have taken all actions
required by applicable law or governmental regulations in connection with their
business as now conducted, except where the failure to obtain any such item or
to take any such action would not have, individually or in the aggregate, a WWWX
Material Adverse Effect.

                  (b) The execution and delivery of this Agreement by WWWX, the
Acquisition Corp. and/or the Merger Sub do not, and the performance of this
Agreement and the consummation by WWWX, the Acquisition Corp. and/or the Merger
Sub of the transactions described herein will not, require any consent,
approval, authorization or permit of, or filing with or notification to, any
governmental or regulatory authority, domestic or foreign (each a "Governmental
Entity"), except for (i) applicable requirements, if any, of theSecurities Act
of 1933 (the "Securities Act"), the Exchange Act of 1934 (the "Exchange Act"),
state securities laws and state takeover laws, (ii) filing of

                                       8
<PAGE>

appropriate merger documentation as Pennsylvania law shall require, and (iii)
applicable requirements of the Code and state and local tax laws.

         2.12 LITIGATION. There are no actions, suits or proceedings pending
against WWWX, the Acquisition Corp., the Merger Sub or any of their Subsidiaries
or, to the knowledge of WWWX or the Acquisition Corp., threatened against WWWX,
the Acquisition Corp., the Merger Sub or any of their Subsidiaries, at law or in
equity, or before or by any federal or state commission, board, bureau, agency
or instrumentality, that are likely to have a WWWX Material Adverse Effect.

         2.13     TAXES.

                  (a) Except as set forth in the Acquisition Corp. Disclosure
Letter, each of WWWX, the Acquisition Corp., the Merger Sub and each of their
Subsidiaries has filed all material tax returns and reports required to be filed
by it, or requests for extensions to file such returns or reports have been
timely filed and granted and have not expired, and all tax returns and reports
are complete and accurate in all respects, except to the extent that such
failures to file, have extensions granted that remain in effect, or be complete
and accurate in all respects, as applicable, individually or in the aggregate,
would not have a WWWX Material Adverse Effect. WWWX, the Acquisition Corp., the
Merger Sub and each of their Subsidiaries has paid (or WWWX or the Acquisition
Corp. has paid on its behalf) all taxes shown as due on such tax returns and
reports, and no deficiencies for any taxes have been proposed, asserted or
assessed against WWWX, the Acquisition Corp., the Merger Sub or any of their
Subsidiaries that are not adequately reserved for, except for inadequately
reserved taxes and inadequately reserved deficiencies that would not,
individually or in the aggregate, have a WWWX Material Adverse Effect. No
requests for waivers of the time to assess any taxes against WWWX, the
Acquisition Corp., the Merger Sub or any of their Subsidiaries have been granted
or are pending.

                  (b) Neither WWWX, the Acquisition Corp., the Merger Sub or any
of their Subsidiaries has knowingly taken any action or has any knowledge of any
fact or circumstance that is reasonably likely to prevent the Merger from
qualifying as an exchange governed by Section 351 of the Code.

                  (c) As used in this Section 2.13, "taxes" shall include all
federal, state, local and foreign income, franchise, property, sales, use,
excise and other taxes, including obligations for withholding taxes from
payments due or made to any other Person or entity and any interest, penalties
or additions to tax.

         2.14 EMPLOYEE BENEFIT PLANS. Except as described in the Acquisition
Corp. Disclosure Letter: (i) all employee benefit plans or programs maintained
for the benefit of the current or former employees or directors of WWWX, the
Acquisition Corp., the Merger Sub or any of their Subsidiaries that are
sponsored, maintained or contributed to by WWWX, the Acquisition Corp., the
Merger Sub or any of their Subsidiaries (if any), or with respect to which WWWX,
the Acquisition Corp., the Merger Sub or any of their Subsidiaries has any
liability, including without limitation any such plan

                                       9
<PAGE>

that is an "employee benefit plan" as defined in Section 3(3) of the Employee
Retirement Income Security Act of 1974 ("ERISA"), are in compliance with all
applicable requirements of law, including ERISA and the Code, and (ii) neither
WWWX, the Acquisition Corp., the Merger Sub nor any of their Subsidiaries has
any liabilities or obligations with respect to any such employee benefit plans
or programs, whether accrued, contingent or otherwise, nor to the knowledge of
WWWX or the Acquisition Corp. are any such liabilities or obligations expected
to be incurred. The execution of, and performance of the transactions described
in, this Agreement will not (either alone or upon the occurrence of any
additional or subsequent events) constitute an event under any benefit plan,
policy, arrangement or agreement or any trust or loan that will or may result in
any payment (whether of severance pay or otherwise), acceleration, forgiveness
of indebtedness, vesting, distribution, increase in benefits or obligation to
fund benefits with respect to any employee. The only severance agreements or
severance policies applicable to WWWX, the Acquisition Corp., the Merger Sub or
any of their Subsidiaries are the agreements and policies specifically referred
to in the Acquisition Corp. Disclosure Letter.

         2.15 LABOR MATTERS. There is no labor strike, labor dispute, work
slowdown, stoppage or lockout actually pending, or to the knowledge of WWWX or
the Acquisition Corp., threatened against or affecting WWWX, the Acquisition
Corp., the Merger Sub or any of their Subsidiaries. There is no unfair labor
practice or labor arbitration proceeding pending or, to the knowledge of WWWX or
the Acquisition Corp., threatened against WWWX, the Acquisition Corp., the
Merger Sub or any of their Subsidiaries relating to their business.

         2.16 INSURANCE. The Acquisition Corp. Disclosure Letter contains a
complete and accurate list and description of all policies of fire, liability,
product liability and other forms of insurance presently in effect insuring the
Acquired Corp., its Subsidiaries and their respective assets.

         2.17 NO BROKERS. Neither WWWX, the Acquisition Corp. nor the Merger Sub
has entered into any contract, arrangement or understanding with any person or
firm which may result in the obligation of WWWX, the Acquisition Corp., Artra or
the Merger Sub to pay any finder's fees, brokerage or agent's commissions or
other like payments in connection with the negotiations leading to this
Agreement or the consummation of the transactions described herein. Neither
WWWX, the Acquisition Corp. nor the Merger Sub is aware of any claim for payment
of any finder's fees, brokerage or agent's commissions or other like payments in
connection with the negotiations leading to this Agreement or the consummation
of the transactions described herein.

                                    ARTICLE 3
                         REPRESENTATIONS AND WARRANTIES
                                    OF ARTRA

         Except as set forth in the disclosure letter delivered at or prior to
the execution hereof to WWWX (the "Artra Disclosure Letter") or in the Artra
Reports (as defined below), Artra represents and warrants to WWWX, the
Acquisition Corp. and the Merger Sub as of the date of this Agreement as
follows:

                                       10
<PAGE>

         3.1 EXISTENCE; GOOD STANDING; CORPORATE AUTHORITY. Artra is a
corporation duly incorporated, validly existing and in good standing under the
laws of its jurisdiction of incorporation. Artra is duly licensed or qualified
to do business as a foreign corporation and is in good standing under the laws
of any other state of the United States in which the character of the properties
owned or leased by it or in which the transaction of its business makes such
qualification necessary, except where the failure to be so qualified or to be in
good standing would not have a material adverse effect on the business, results
of operations or financial condition of Artra and its Subsidiaries taken as a
whole (an "Artra Material Adverse Effect"). Artra has all requisite corporate
power and authority to own, operate and lease its properties and carry on its
business as now conducted. Each of the Subsidiaries of Artra is a corporation or
partnership duly organized, validly existing and in good standing under the laws
of its jurisdiction of incorporation or organization, has the corporate or
partnership power and authority to own its properties and to carry on its
business as it is now being conducted, and is duly qualified to do business and
is in good standing in each jurisdiction in which the ownership of its property
or the conduct of its business requires such qualification, except for
jurisdictions in which such failure to be so qualified or to be in good standing
would not have an Artra Material Adverse Effect. The copies of the Articles of
Incorporation and Bylaws of Artra previously made available to WWWX are true and
correct, and have not been modified or amended except as set forth therein.

         3.2 AUTHORIZATION, VALIDITY AND EFFECT OF AGREEMENTS. Artra has the
requisite corporate power and authority to execute and deliver this Agreement
and all agreements and documents described herein. Subject only to the approval
of this Agreement and the transactions described herein by the holders of Artra
Common Stock, the consummation by Artra of the transactions described herein has
been duly authorized by all requisite corporate action. This Agreement
constitutes, and all agreements and documents described herein (when executed
and delivered pursuant hereto for value received) will constitute, the valid and
legally binding obligations of Artra, enforceable in accordance with their
respective terms, subject to applicable bankruptcy, insolvency, moratorium or
other similar laws relating to creditors' rights and general principles of
equity.

         3.3 CAPITALIZATION. The authorized capital stock of Artra consists of
20,000,000 shares of Artra Common Stock and 2,000,000 shares of Artra Preferred
Stock. As of February 17, 1999, there were 7,975,206 shares of Artra Common
Stock and 1,849.34 shares of Artra Preferred Stock issued and outstanding, plus
494,017 shares of Artra Common Stock held in Artra's treasury. Since such date,
no additional shares of capital stock of Artra have been issued, except pursuant
to Artra's 1995 stock option and 1996 disinterested director stock option plan
(the "Artra Option Stock Plans"). Except as set forth in the Artra Disclosure
Letter, Artra does not have any outstanding bonds, debentures, notes or other
obligations the holders of which have the right to vote (or which are
convertible into or exercisable for securities having the right to vote) with
the stockholders of Artra on any matter. All such issued and outstanding shares
of Artra Common Stock and Artra Preferred Stock are duly authorized, validly
issued, fully paid, nonassessable and free of preemptive rights. Except as
described in this Agreement and as set forth in the Artra Disclosure Letter,
there are not at

                                       11
<PAGE>

the date of this Agreement any existing options, warrants, calls, subscriptions,
convertible securities, or other rights, agreements or commitments that obligate
Artra or any of its Subsidiaries to issue, transfer or sell any shares of
capital stock of Artra or any of its Subsidiaries (other than under the Artra
Option Plans).

         3.4 SUBSIDIARIES. Except as set forth in the Artra Disclosure Letter,
Artra owns directly or indirectly each of the outstanding shares of capital
stock of each of its Subsidiaries (or other ownership interests having by their
terms ordinary voting power to elect a majority of directors or others
performing similar functions with respect to such Subsidiary). Each of the
outstanding shares of capital stock of each of such Subsidiaries is duly
authorized, validly issued, fully paid and nonassessable and is owned, directly
or indirectly, by Artra, free and clear of all liens, pledges, security
interests, claims or other encumbrances other than liens imposed by local law
which are not material. The following information for each such Subsidiary has
been previously made available to WWWX, if requested and if applicable: (i) its
name and jurisdiction of incorporation or organization; (ii) its authorized
capital stock or share capital; and (iii) the number of issued and outstanding
shares of capital stock or share capital.

         3.5 OTHER INTERESTS. Except as set forth in the Artra Disclosure Letter
and for interests in the Artra Subsidiaries, neither Artra nor any Artra
Subsidiary owns directly or indirectly any interest or investment (whether
equity or debt) in any corporation, partnership, joint venture, business, trust
or entity (other than (i) passive investments in securities in the ordinary
course of business and corporate partnering, development, cooperative marketing
and similar undertakings and arrangements entered into in the ordinary course of
business and (ii) other investments of less than $1,000,000).

         3.6      NO CONFLICT; REQUIRED FILINGS AND CONSENTS.

                  (a) Except as set forth in the Artra Disclosure Letter: the
execution and delivery of this Agreement by Artra does not, and the consummation
by Artra of the transactions described herein will not, (i) conflict with or
violate its articles of incorporation or by-laws, (ii) conflict with or violate
any law, rule, regulation, order, judgment or decree applicable to Artra or any
Artra Subsidiary or by which any property or asset of Artra or any Artra
Subsidiary is bound or affected, or (iii) result in any breach of or constitute
a default (or an event which with notice or lapse of time or both would become a
default) under, result in the loss of a material benefit under, or give to
others any right of purchase or sale, or any right of termination, amendment,
acceleration, increased payments or cancellation of, or result in the creation
of a lien or other encumbrance on any property or asset of Artra or any Artra
Subsidiary pursuant to, any note, bond, mortgage, indenture, contract,
agreement, lease, license, permit, franchise or other instrument or obligation
to which Artra or any Artra Subsidiary is a party or by which Artra or any Artra
Subsidiary or any property or asset of Artra or any Artra Subsidiary is bound or
affected, , in each case except for any such conflicts, defaults or violations
that would not, individually or in the aggregate, have an Artra Material Adverse
Effect. Artra and its Subsidiaries have obtained all licenses, permits and other
authorizations and have taken all actions required by applicable law or
governmental regulations in connection with their business

                                       12
<PAGE>

as now conducted, except where the failure to obtain any such item or to take
any such action would not have, individually or in the aggregate, an Artra
Material Adverse Effect.

                  (b) The execution and delivery of this Agreement by Artra do
not, and the performance of this Agreement and the consummation by Artra of the
transactions described herein will not require any consent, approval,
authorization or permit of, or filing with or notification to any Governmental
Entity, except for (i) applicable requirements, if any, of the Securities Act,
the Exchange Act, state securities laws and state takeover laws, and the NYSE,
(ii) filing of appropriate merger documentation as Pennsylvania law shall
require, and (iii) applicable requirements of the Code and state and local tax
laws.

         3.7      SEC DOCUMENTS.

                  (a) Artra has filed all forms, reports and documents required
to be filed by it with the Securities and Exchange Commission (the "SEC") since
December 31, 1996 (collectively, the "Artra Reports"). As of their respective
dates, the Artra Reports, and any such reports, forms and other documents filed
by Artra with the SEC after the date of this Agreement (i) complied, or will
comply, as to form in all material respects with the applicable requirements of
the Securities Act, the Exchange Act, and the rules and regulations thereunder
and (ii) did not, or will not, contain any untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to
make the statements made therein, in the light of the circumstances under which
they were made, not misleading. The representation in clause (ii) of the
preceding sentence shall not apply to any misstatement or omission in any Artra
Report filed prior to the date of this Agreement that was superseded by a
subsequent Artra Report filed prior to the date of this Agreement that
specifically corrected such misstatement or omission in the applicable Artra
Report.

                  (b) Each of the consolidated balance sheets included in or
incorporated by reference into the Artra Reports (including the related notes
and schedules) fairly presents the consolidated financial position of Artra and
its Subsidiaries as of its date, and each of the consolidated statements of
income, retained earnings and cash flows included in or incorporated by
reference into the Artra Reports (including any related notes and schedules)
fairly presents the results of operations, retained earnings or cash flows, as
the case may be, of Artra and its Subsidiaries for the periods set forth therein
(subject, in the case of unaudited statements, to normal year-end audit
adjustments that would not be material in amount or effect), in each case in
accordance with generally accepted accounting principles consistently applied
during the periods involved, except as may be noted therein. Neither Artra nor
any of its Subsidiaries has any liabilities or obligations of any nature
(whether accrued, absolute, contingent or otherwise) that would be required to
be reflected on, or reserved against in, a balance sheet of Artra or in the
notes thereto, prepared in accordance with generally accepted accounting
principles consistently applied, except for (i) liabilities and obligations that
were reserved on or reflected in (including the notes to), the consolidated
balance sheet of Artra as of December 31, 1998, (ii) liabilities arising in the
ordinary course of business since December 31, 1998, and (iii) liabilities or
obligations which would not, individually or in the aggregate, have an Artra
Material Adverse Effect.

                                       13
<PAGE>

         3.8 TITLE TO PROPERTIES. Except as set forth in the Artra Disclosure
Letter, Artra and each of the Artra Subsidiaries owns outright, and has good and
marketable title to, all of its assets, free and clear of all liens, pledges,
mortgages, security interests, conditional sales contracts or other encumbrances
or conflicting claims of any nature whatsoever. None of such assets are subject
to restrictions with respect to the transferability thereof and Artra's title
thereto will not be affected in any way by the transactions described in the
Agreement. Neither Artra nor any of its Subsidiaries owns any real property or
any interest in real property.

         3.9 ABSENCE OF UNDISCLOSED LIABILITIES. Neither Artra nor any Artra
Subsidiary has any liabilities, obligations or guaranties accrued, absolute,
contingent or otherwise, except as disclosed in the Artra Disclosure Letter or
the Artra Reports, none of which is material and adverse.

         3.10 MATERIAL CONTRACTS. The Artra Disclosure Letter contains a true
and correct list of each contract, agreement, commitment or obligation (a) which
involves or may involve the payment to or from Artra or any Artra Subsidiary of
amounts in excess of $100,000 per year, (b) any license, franchise or
distribution agreement, which involves or may involve payments to or from Artra
or any Artra Subsidiary in excess of $100,000 per year, (c) any lease of
tangible personal property, which involves or may involve payments to or from
Artra or any Artra Subsidiary in excess of $100,000 per year and (d) any
contract between Artra or any of its Subsidiaries and any affiliate of Artra or
any of the Artra Subsidiaries (collectively the "Artra Material Contracts").
Each of the Artra Material Contracts constitutes a valid and binding obligation
of the parties thereto, is in full force and effect and will continue in full
force and effect following the consummation of the transactions described herein
and thereby, in each case without breaching the terms thereof or resulting in
the forfeiture or impairment of any rights thereunder and without the consent,
approval or act of, or the making of any filing with, any other party (except as
set forth in the Artra Disclosure Letter). Neither Artra nor any Artra
Subsidiary is in, or to the knowledge of Artra alleged to be in, breach or
default under, nor is there or is there alleged to be any basis for termination
of, any Artra Material Contract and, to the knowledge of Artra, no other party
to any Artra Material Contract has breached or defaulted thereunder, and no
event has occurred and no condition or state of facts exists which, with the
passage of time or the giving of notice or both, would constitute such a default
or breach by Artra, any Artra Subsidiary or, to the knowledge of Artra, by any
such other party. Neither Artra nor any Artra Subsidiary is currently
renegotiating any Artra Material Contract or paying liquidated damages in lieu
of the performance thereunder.

         3.11 LITIGATION. Except as set forth in the Artra Disclosure Letter,
there are no actions, suits or proceedings pending against Artra or any Artra
Subsidiaries or, to the knowledge of Artra, threatened against Artra or the
Artra Subsidiaries, at law or in equity, or before or by any federal or state
commission, board, bureau, agency or instrumentality, that are reasonably likely
to have an Artra Material Adverse Effect.

         3.12 ABSENCE OF CERTAIN CHANGES. Except as specifically described in
this Agreement or set forth in the Artra Disclosure Letter, since December 31,
1998, there has not been any: (i) Artra

                                       14
<PAGE>

Material Adverse Effect; (ii) declaration, setting aside or payment of any
dividend or other distribution with respect to Artra's capital stock (other than
regular quarterly cash dividends including any increase thereof consistent with
past practice); (iii) material change in Artra's financial condition, or (iv)
material change in Artra's accounting principles, practices or methods.

         3.13     TAXES.

                  (a) Each of Artra and its Subsidiaries has filed all material
tax returns and reports required to be filed by it, or requests for extensions
to file such returns or reports have been timely filed and granted and have not
expired, and all tax returns and reports are complete and accurate in all
respects, except to the extent that such failures to file, have extensions
granted that remain in effect or be complete and accurate in all respects, as
applicable, individually or in the aggregate, would not have an Artra Material
Adverse Effect. Artra and each of the Artra Subsidiaries has paid (or Artra has
paid on its behalf) all taxes shown as due on such tax returns and reports. The
most recent financial statements contained in the Artra Reports reflect an
adequate reserve for all taxes payable by Artra and its Subsidiaries for all
taxable periods and portions thereof accrued through the date of such financial
statements, and no deficiencies for any taxes have been proposed, asserted or
assessed against Artra and its Subsidiaries that are not adequately reserved
for, except for inadequately reserved taxes and inadequately reserved
deficiencies that would not, individually or in the aggregate, have an Artra
Material Adverse Effect. No requests for waivers of the time to assess any taxes
against Artra or any Artra Subsidiary have been granted or are pending, except
for requests with respect to such taxes that have been adequately reserved for
in the most recent financial statements contained in the Artra Reports, or, to
the extent not adequately reserved, the assessment of which would not,
individually or in the aggregate, have an Artra Material Adverse Effect.

                  (b) As used in this Section 3.13, "taxes" shall include all
federal, state, local and foreign income, franchise, property, sales, use,
excise and other taxes, including obligations for withholding taxes from
payments due or made to any other Person or entity and any interest, penalties
or additions to tax.

         3.14 EMPLOYEE BENEFIT PLANS. Except as described in the Artra
Disclosure Letter: (i) all employee benefit plans or programs maintained for the
benefit of the current or former employees or directors of Artra or any of its
Subsidiaries that are sponsored, maintained or contributed to by Artra or any of
its Subsidiaries, or with respect to which Artra or any of its Subsidiaries has
any liability, including without limitation any such plan that is an "employee
benefit plan" as defined in Section 3(3) of the Employee Retirement Income
Security Act of 1974 ("ERISA"), are in compliance with all applicable
requirements of law, including ERISA and the Code, and (ii) neither Artra nor
any of its Subsidiaries has any liabilities or obligations with respect to any
such employee benefit plans or programs, whether accrued, contingent or
otherwise, nor to the knowledge of Artra are any such liabilities or obligations
expected to be incurred. The execution of, and performance of the transactions
described in this Agreement will not (either alone or upon the occurrence of any
additional or subsequent events) constitute an event under any benefit plan,
policy, arrangement or agreement or any trust or loan that will or may result in
any payment (whether of severance pay or

                                       15
<PAGE>

otherwise), acceleration, forgiveness of indebtedness, vesting, distribution,
increase in benefits or obligation to fund benefits with respect to any
employee. The only severance agreements or severance policies applicable to
Artra or any of its Subsidiaries are the agreements and policies specifically
referred to in the Artra Disclosure Letter.

         3.15 LABOR MATTERS. There is no labor strike, labor dispute, work
slowdown, stoppage or lockout actually pending, or to the knowledge of Artra,
threatened against or affecting Artra or any of its Subsidiaries. There is no
unfair labor practice or labor arbitration proceeding pending or, to the
knowledge of Artra, threatened against Artra or any of its Subsidiaries relating
to their business.

         3.16 INSURANCE. The Artra. Disclosure Letter contains a complete and
accurate list and description of all policies of fire, liability, product
liability and other forms of insurance presently in effect insuring Artra, its
Subsidiaries and their respective assets.

         3.17 NO BROKERS. Artra has not entered into any contract, arrangement
or understanding with any person or firm that may result in the obligation of
Artra, the Acquisition Corp., WWWX or the Merger Sub to pay any finder's fee,
brokerage or agent's commissions or other like payments in connection with the
negotiations leading to this Agreement or the consummation of the transactions
described herein except as set forth in the Artra Disclosure Letter. Other than
the foregoing arrangements, Artra is not aware of any claim for payment of any
finder's fees, brokerage or agent's commissions or other like payments in
connection with the negotiations leading to this Agreement or the consummation
of the transactions described herein.

                                    ARTICLE 4
                                    COVENANTS

         4.1 ALTERNATIVE PROPOSALS. Prior to the Effective Time, each of WWWX
and the Acquisition Corp. agrees (a) that neither it nor any of its Subsidiaries
shall, nor shall it or any of its Subsidiaries permit their respective officers,
directors, employees, agents and representatives (including, without limitation,
any investment banker, attorney or accountant retained by it or any of its
Subsidiaries) to, initiate, solicit or encourage, directly or indirectly, any
inquiries or the making or implementation of any proposal or offer (including,
without limitation, any proposal or offer to its shareholders) with respect to a
merger, acquisition, consolidation or similar transaction involving, and
purchase of (i) all or any significant portion of the assets of the Acquisition
Corp. or of any Subsidiary of the Acquisition Corp., (ii) any of the outstanding
shares of Acquisition Corp. Common Stock or Preferred Stock or (iii) any of the
outstanding shares of the capital stock or other equity interest of any
Subsidiary of the Acquisition Corp. (any such proposal or offer being
hereinafter referred to as an "Alternative Proposal") or engage in any
negotiations concerning, or provide any confidential information or data to, or
have any discussions with, any person relating to an Alternative Proposal
(excluding the Merger described in this Agreement), or otherwise facilitate any
effort or attempt to make or implement an Alternative Proposal; and (b) that it
will notify Artra immediately if any such inquiries or proposals are received
by, any such information is requested from, or any such negotiations or
discussions are sought to be initiated or continued with, it;

                                       16
<PAGE>

provided, however, that nothing contained in this Section 4.1 shall prohibit the
Board of Directors of WWWX from furnishing information to or entering into
discussions or negotiations with, any person or entity that makes an unsolicited
bona fide Alternative Proposal, if, and only to the extent that, (i) the Board
of Directors of WWWX, determines in good faith that such action is required for
the Board of Directors to comply with its fiduciary duties to shareholders
imposed by law, (ii) prior to furnishing such information to, or entering into
discussions or negotiations with, such person or entity, WWWX provides written
notice to Artra to the effect that it is furnishing information to, or entering
into discussions or negotiations with, such person or entity, and (iii) WWWX
keeps Artra informed of the status and all material information with respect to
any such discussions or negotiations. Nothing in this Section 4.1 shall (x)
permit WWWX or Artra to terminate this Agreement (except as specifically
provided in Article 6 hereof), (y) permit WWWX or the Acquisition Corp. to enter
into any agreement with respect to an Alternative Proposal for as long as this
Agreement remains in effect (it being agreed that for as long as this Agreement
remains in effect, neither WWWX nor the Acquisition Corp. shall enter into any
agreement with any person that provides for, or in any way facilitates, an
Alternative Proposal (other than a confidentiality agreement in customary
form)), or (z) affect any other obligation of WWWX, the Acquisition Corp. or the
Merger Sub under this Agreement.

         4.2      INTERIM OPERATIONS.

                  (a) Prior to the Effective Time, except as may be set forth in
the Acquisition Corp. Disclosure Letter or as described in any other provision
of this Agreement, unless Artra has consented in writing thereto, WWWX: (i)
shall, and shall cause the Acquisition Corp. and each of its Subsidiaries to
conduct their respective operations according to their usual, regular and
ordinary course; (ii) shall use its reasonable efforts, and shall cause the
Acquisition Corp. and each of its Subsidiaries to use its reasonable efforts, to
preserve intact their assets and business organizations and goodwill, keep
available the services of their respective officers and employees and maintain
satisfactory relationships with those persons having business relationships with
them; (iii) shall not amend the Articles of Incorporation or Bylaws or
comparable governing instruments of the Acquisition Corp. or any of its
Subsidiaries; (iv) shall promptly notify Artra of any material breach of any
representation or warranty contained herein or any WWWX Material Adverse Effect;
(v) shall promptly deliver to Artra true and correct copies of all monthly
financial statements of WWWX, the Acquisition Corp. and each of its Subsidiaries
promptly after the end of each month; (vi) shall not permit the Acquisition
Corp. or any of its Subsidiaries to (x) issue any shares of its capital stock,
effect any stock split or otherwise change its capitalization as it existed on
the date hereof, (y) grant, confer or award any option, warrant, conversion
right or other right to acquire any shares of its capital stock or grant, confer
or award any bonuses or other forms of cash incentives to any officer, director
or key employee except consistent with past practice or (z) increase any
compensation under any employment agreement with any of its present or future
officers, directors or employees, except for normal increases consistent with
past practice, grant any severance or termination pay to, or enter into any
employment or severance agreement with any officer or director or amend any such
agreement in any material respect, adopt any new employee benefit plan
(including any stock option, stock benefit or stock purchase plan) or amend any
existing employee benefit plan in any material

                                       17
<PAGE>

respect; (vii) shall not permit the Acquisition Corp. or any of its
Subsidiaries, to (x) declare, set aside or pay any dividend or make any other
distribution or payment with respect to any shares of the Acquisition Corp.'s
capital stock or other ownership interests or (y) directly or indirectly redeem,
purchase or otherwise acquire any shares of its capital stock or capital stock
of any of its Subsidiaries, or make any commitment for any such action; (viii)
shall not permit the Acquisition Corp. or any of its Subsidiaries to, sell,
lease or otherwise dispose of any of its assets (including capital stock of
Subsidiaries) except in the ordinary course of business, or to acquire any
business or assets; (ix) shall not, and shall not permit the Acquisition Corp.
or any of its Subsidiaries to incur any material amount of indebtedness for
borrowed money or make any loans, advances or capital contributions to, or
investments in, any other person other than pursuant to the Loan Agreement, or
issue or sell any debt securities, other than borrowings under existing lines of
credit in the ordinary course of business; (x) shall not permit the Acquisition
Corp. or any of its Subsidiaries to, authorize or make capital expenditures
except as described in the Loan Agreement; (xi) shall not permit the Acquisition
Corp. or any of its Subsidiaries to mortgage or otherwise encumber or subject to
any lien any of their properties or assets except as would not be reasonably
likely to have an Acquisition Corp. Material Adverse Effect; (xii) shall not,
and shall not permit the Acquisition Corp. or any of its Subsidiaries to, make
any change to its accounting (including tax accounting) methods, principles or
practices, except as may be required by generally accepted accounting principles
and except, in the case of tax accounting methods, principles or practices, in
the ordinary course of business of the Acquisition Corp. or any of its
Subsidiaries; and (xiii) shall not permit the Acquisition Corp. or any of its
Subsidiaries to enter into any joint venture, production or marketing
arrangements without consulting with Artra prior thereto.

                  (b) Prior to the Effective Time, except as set forth in the
Artra Disclosure Letter or as described in this Agreement, unless WWWX has
consented in writing thereto, Artra: (i) shall not issue any shares of its
capital stock (other than pursuant to any Artra Stock Option Plans) or effect
any stock split of its capital stock; (ii) shall promptly notify the Acquisition
Corp. of any breach of any representation or warranty contained herein or any
Artra Material Adverse Effect; and (iii) shall promptly deliver to WWWX true and
correct copies of any report, statement or schedule filed with the SEC
subsequent to the date of this Agreement.

         4.3 MEETINGS OF STOCKHOLDERS. Each of Artra, WWWX and the Acquisition
Corp. shall take all action necessary in accordance with applicable law and its
Articles or Certificate of Incorporation and Bylaws to convene a meeting of its
shareholders as promptly as practicable to consider and vote upon the approval
of this Agreement, the Plan of Merger and the Merger. The Board of Directors of
each of Artra, WWWX and the Acquisition Corp. shall recommend such approval, and
Artra, WWWX and the Acquisition Corp. shall each take all lawful action to
solicit such approval, including, without limitation, to the extent applicable
to each, timely mailing the Proxy Statement/Prospectus (as defined in Section
4.7); provided, however, that such recommendation or solicitation is subject to
any action (including any withdrawal or change of its recommendation) taken by,
or upon authority of, the Board of Directors of Artra, WWWX or the Acquisition
Corp., as the case may be, in the exercise of its good faith judgment as to its
fiduciary duties to its shareholders imposed by law. As used herein, the
"approval" of the WWWX

                                       18
<PAGE>

shareholders shall mean the approval by at least a majority in interest of all
disinterested WWWX shareholders of record entitled to vote at a duly convened
meeting, unless a greater number is otherwise required by law. "Disinterested
WWWX shareholders" shall mean all shareholders of record other than Robert D.
Kohn and any person or entity directly or indirectly, through one or more
intermediaries, controlled by Robert D. Kohn, and any entity under common
control with any such entity controlled by Robert D. Kohn.

         4.4 FILINGS, OTHER ACTION. Subject to the terms and conditions herein
provided, Artra and WWWX shall: (a) use all reasonable efforts to cooperate with
one another in (i) determining which filings are required to be made prior to
the Effective Time with, and which consents, approvals, permits or
authorizations are required to be obtained prior to the Effective Time from,
governmental or regulatory authorities of the United States, the several states
and foreign jurisdictions in connection with the execution and delivery of this
Agreement and the consummation of the transactions described herein and (ii)
timely making all such filings and timely seeking all such consents, approvals,
permits or authorizations; and (b) use all reasonable efforts to take, or cause
to be taken, all other action and do, or cause to be done, all other things
necessary, proper or appropriate to consummate and make effective the
transactions described in this Agreement. If, at any time after the Effective
Time, any further action is necessary or desirable to carry out the purpose of
this Agreement, the proper officers and directors of the Artra, WWWX and the
Acquisition Corp. shall take all such necessary action.

         4.5 INSPECTION OF RECORDS. From the date hereof to the Effective Time,
each of Artra and WWWX shall: (i) allow all designated officers, attorneys,
accountants and other representatives of the other reasonable access at all
reasonable times to the offices, records and files, correspondence, audits and
properties, as well as to all information relating to commitments, contracts,
titles and financial position, or otherwise pertaining to the business and
affairs, of Artra and WWWX and their respective Subsidiaries, as the case may
be, (ii) furnish to the other, the other's counsel, financial advisors, auditors
and other authorized representatives such financial and operating data and other
information as such persons may reasonably request and (iii) instruct their
respective employees, counsel and financial advisors to cooperate with the
investigation of the respective businesses of each.

         4.6 PUBLICITY. The initial press release relating to this Agreement
shall be a joint press release approved by both parties and thereafter Artra and
WWWX shall, subject to their respective legal obligations (including
requirements of stock exchanges and other similar regulatory bodies), consult
with each other, and use reasonable efforts to agree upon the text of any press
release, before issuing any such press release or otherwise making public
statements with respect to the transactions described herein and in making any
filings with any federal or state governmental or regulatory agency or with any
national securities exchange with respect thereto.

         4.7 REGISTRATION STATEMENTS. Artra and WWWX shall cooperate and
promptly prepare and the Acquisition Corp. shall file with the SEC as soon as
practicable a Registration Statement on

                                       19
<PAGE>

Form S-4 (the "Form S-4") under the Securities Act, with respect to the
Acquisition Corp. Common Stock issuable in the Merger, which shall also serve as
the proxy statement with respect to the meeting of the shareholders of Artra and
WWWX in connection with the Merger (the "Proxy Statement/Prospectus"). In
addition, Artra and WWWX shall cooperate and promptly prepare a Registration
Statement or Form S-1 (the "Form S-1") under the Securities Act, or such other
form as may be permitted under applicable SEC regulations, with respect to the
reoffer and resale of shares of Acquisition Corp. Common Stock presently held by
WWWX and ETCO. The respective parties will cause the Proxy Statement/Prospectus,
the Form S-4 and the Form S-1 to comply as to form in all material respects with
the applicable provisions of the Securities Act, the Exchange Act and the rules
and regulations thereunder. The Acquisition Corp. shall use all reasonable
efforts, and WWWX and Artra shall cooperate with the Acquisition Corp., to have
the Form S-4 and the Form S-1 declared effective by the SEC as promptly as
practicable, to keep the Form S-4 and the Form S-1 effective as long as is
necessary to consummate the Merger and to keep the Form S-1 effective until the
earlier of the date the shares are sold or the date such shares may be sold
pursuant to Rule 144 or similar provision under the Securities Act. The
Acquisition Corp. shall, as promptly as practicable, provide copies of any
written comments received from the SEC with respect to the Form S-4 or the Form
S-1 to Artra and WWWX and advise Artra and WWWX of any verbal comments with
respect to the Form S-4 or the Form S-1 received from the SEC. The Acquisition
Corp. shall use its best efforts to obtain, prior to the effective date of the
Form S-4 or the Form S-1, all necessary state securities law or "blue sky"
permits or approvals required to carry out the transactions described in this
Agreement. The Acquisition Corp. agrees that the Proxy Statement/Prospectus and
each amendment or supplement thereto at the time of mailing thereof and at the
time of the meetings of shareholders of Artra and WWWX, or, in the case of the
Form S-4 or the Form S-1 and each amendment or supplement thereto, at the time
it is filed or becomes effective, will not include an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading; provided, however, that the foregoing
shall not apply to the extent that any such untrue statement of a material fact
or omission to state a material fact was made by the Acquisition Corp. in
reliance upon and in conformity with written information concerning Artra
furnished to the Acquisition Corp. by Artra specifically for use in the Proxy
Statement/Prospectus or the Form S-1 or any amendment or supplement thereto.
Artra agrees that the written information concerning it provided by it for
inclusion in the Proxy Statement/Prospectus and each amendment or supplement
thereto, at the time of mailing thereof and at the time of the meeting of
shareholders of Artra, or, in the case of written information concerning Artra
provided by it for inclusion in the Form S-4 or the Form S-1 or any amendment or
supplement thereto, at the time it is filed or becomes effective, will not
include an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading. No
amendment or supplement to the Proxy Statement/ Prospectus or the Form S-4 or
the Form S-1 will be made by the Acquisition Corp., WWWX or Artra without the
approval of the other parties. The Acquisition Corp. will advise Artra and WWWX
promptly of the times when the Form S-4 and the Form S-1 have become effective
or any supplement or amendment has been filed, the issuance of any stop order,
the suspension of the qualification of the Acquisition Corp. Common Stock
issuable in connection with the Merger for offering or sale in any jurisdiction,
or any request

                                       20
<PAGE>

by the SEC for amendment of the Proxy Statement/Prospectus, the Form S-4 or the
Form S-1 or comments thereon and responses thereto or requests by the SEC for
additional information.

         4.8 LISTING APPLICATION. The Acquisition Corp. shall promptly prepare
and submit to the NYSE a listing application covering the shares of Acquisition
Corp. Common Stock issuable in the Merger, and shall use reasonable efforts to
obtain, prior to the Effective Time, approval for such listing of such Acquired
Corp. Common Stock, subject to official notice of issuance. If the shares of the
Acquisition Corp. Common Stock issuable in the Merger are not approved for
listing on the NYSE prior to the Effective Time, Artra shall prepare and file an
application with the National Association of Securities Dealers, Inc. to list
the shares of the Acquisition Corp. Common Stock on the National Association of
Securities Dealers Automated Quotation Service National Market System
("NASDAQ/NMS"), and shall use all reasonable efforts to obtain, prior to the
Effective Time, approval for such listing of such Acquisition Corp. Common Stock
on the NASDAQ/NMS.

         4.9 FURTHER ACTION. Each party hereto shall, subject to the fulfillment
at or before the Effective Time of each of the conditions of performance set
forth herein or the waiver thereof, perform such further acts and execute such
documents as may be reasonably required to effect the Merger.

         4.10 AFFILIATE LETTERS. At least 30 days prior to the Closing Date,
Artra shall deliver to the Acquisition Corp. a list of names and addresses of
those persons who were, in Artra's reasonable judgment, at the record date for
its shareholders' meeting to approve the Merger, "affiliates" (each such person,
an "Affiliate") of Artra within the meaning of Rule 145 of the rules and
regulations promulgated under the Securities Act. Artra shall use all reasonable
efforts to deliver or cause to be delivered to the Acquisition Corp., prior to
the Closing Date, from each of the Affiliates of Artra identified in the
foregoing list, an Affiliate Letter in form and substance reasonably
satisfactory to the Acquisition Corp. The Acquisition Corp. shall be entitled to
place legends as specified in such Affiliate Letters on the certificates
evidencing any Acquisition Corp. Common Stock to be received by such Affiliates
pursuant to the terms of this Agreement, and to issue appropriate stop transfer
instructions to the transfer agent for the Acquisition Corp. Common Stock,
consistent with the terms of such Affiliate Letters.

         4.11 EXPENSES. Whether or not the Merger is consummated, all costs and
expenses incurred in connection with this Agreement and the transactions
described herein shall be paid by the party incurring such expenses except as
expressly provided herein and except that (a) the filing fee in connection with
the filing of the Form S-4 or Proxy Statement/Prospectus with the SEC and (b)
the expenses incurred in connection with printing and mailing the Form S-4 and
the Proxy Statement/Prospectus, shall be borne by Artra.

         4.12 TAKEOVER STATUTE. If any "fair price", "moratorium", "control
share acquisition" or other form of antitakeover statute or regulation shall
become applicable to the transactions described herein, the Acquisition Corp.
and the members of the Board of Directors of the Acquisition Corp. shall grant
such approvals and take such actions as are reasonably necessary so that the
transactions

                                       21
<PAGE>

described herein may be consummated as promptly as practicable on the terms
described herein and thereby and otherwise act to eliminate or minimize the
effects of such statute or regulation on the transactions described herein and
thereby.

         4.13 CONVEYANCE TAXES. Artra and WWWX shall cooperate in the
preparation, execution and filing of all returns, questionnaires, applications
or other documents regarding any real property transfer or gains, sales, use,
transfer, value added, stock transfer and stamp taxes, any transfer, recording,
registration and other fees, and any similar taxes which become payable in
connection with the transactions described in this Agreement that are required
or permitted to be filed on or before the Effective Time.

         4.14 ENTRADE FUNDING. From and after the Effective Time, Artra shall
commit to provide the Acquisition Corp. with guaranteed funding for the working
capital needs of Entrade, in an amount equal to at least $4,000,000, with credit
for all working capital contributions to Entrade funded by the loans from Artra
made pursuant to the terms of the Loan Agreement, as the same may be amended
from time to time.

         4.15 SECTION 351 QUALIFICATION. None of the parties hereto nor any of
their respective Subsidiaries shall knowingly take any action that may
jeopardize the qualification of the Merger as an exchange governed by Section
351 of the Code.

         4.16 "LOCK-UP" PROVISIONS. WWWX agrees that, except as set forth
herein, commencing on the date hereof and continuing until the first anniversary
of the Effective Time, it shall not: (a) directly or indirectly assign,
transfer, offer, sell, agree to sell, make any short sale, pledge, hypothecate
or otherwise dispose (collectively, a "Disposition") of any shares of
Acquisition Corp. Common Stock owned by WWWX on the date hereof ("WWWX Stock"),
or (b) engage in any hedging or other transactions with respect to its WWWX
Stock that may have a material impact on the market price of its WWWX Stock, or
that is designed to result in a Disposition of its WWWX Stock, even if such WWWX
Stock would be disposed of by someone other than WWWX, including, without
limitation, any short sale (whether or not against the box) or any purchase,
sale, or grant of any right (including, without limitation, any put or call
option) with respect to any of its WWWX Stock or with respect to any security
(other than a broad-based market basket or index) that includes, relates to or
derives any significant part of its value from its WWWX Stock. Notwithstanding
the foregoing, from and after the Effective Time, WWWX shall be entitled to (a)
make bona fide pledges of its WWWX Stock to an institutional lender or
nationally recognized brokerage house, and any such pledgee shall have the right
to liquidate such shares in the exercise of any remedies available to it under
its loan arrangements with WWWX, without regard to the restrictions set forth
herein, and (b) make a one-time distribution of up to 25% of its WWWX Stock to
the shareholders of WWWX, pro rata in accordance with their respective stock
interests in WWWX as determined by the WWWX Board of Directors.

                                    ARTICLE 5
                                   CONDITIONS

                                       22
<PAGE>

         5.1 CONDITIONS TO EACH PARTY'S OBLIGATION TO EFFECT THE MERGER. The
respective obligation of each party to effect the Merger shall be subject to the
fulfillment at or prior to the Closing Date of the following conditions:

                  (a) This Agreement and the transactions described herein shall
have been approved in the manner required by applicable law or by the applicable
regulations of any stock exchange or other regulatory body, as the case may be,
by the holders of the issued and outstanding shares of capital stock of Artra
and WWWX.

                  (b) None of the parties hereto shall be subject to any order
or injunction of a court of competent jurisdiction that prohibits the
consummation of the transactions described in this Agreement. In the event any
such order or injunction shall have been issued, each party agrees to use its
reasonable efforts to have any such injunction lifted.

                  (c) The Form S-4 shall have become effective and shall be
effective at the Effective Time, and no stop order suspending effectiveness of
the Form S-4 shall have been issued, no action, suit, proceeding or
investigation by the SEC to suspend the effectiveness thereof shall have been
initiated and be continuing, or, to the knowledge of the Acquisition Corp,
threatened, and all necessary approvals under state securities laws relating to
the issuance or trading of the Acquisition Corp. Common Stock and Preferred
Stock to be issued to the Artra shareholders in connection with the Merger shall
have been received.

                  (d) All consents, authorizations, orders and approvals of (or
filings or registrations with) any governmental commission, board or other
regulatory body required in connection with the execution, delivery and
performance of this Agreement shall have been obtained or made, except for
filings in connection with the Merger and any other documents required to be
filed after the Effective Time and except where, in the opinion of Artra or
WWWX, as the case may be, the failure to have obtained or made any such consent,
authorization, order, approval, filing or registration would not have a material
adverse effect on the business, results of operations or financial condition of
Artra and the Acquisition Corp. (and their respective Subsidiaries), taken as a
whole, following the Effective Time.

                  (e) The Acquisition Corp. Common Stock to be issued to the
Artra shareholders in connection with the Merger shall have been approved for
listing on the NYSE, subject only to official notice of issuance, or if such
listing has not been approved, the Acquisition Corp. shall have applied for and
be diligently pursuing listing on the NASDAQ/NMS.

                  (f) The Employment Agreements between Artra and Robert D.
Kohn, Benjamin Kafka, Mark Quinn and Gary Lerman shall have been assigned by
Artra to, and amended by, the Acquisition Corp.

                                       23
<PAGE>

                  (g) The Board of Directors of the Acquisition Corp. shall have
been elected in accordance with Section 1.4 hereof, and the Articles of
Incorporation and By-Laws of the Acquisition Corp. shall have been amended to
the extent required to cause them to be in compliance with any then applicable
provision or requirement of the PBCL or the NYSE (or, if applicable, the
NASDAQ/NMS).

         5.2 CONDITIONS TO OBLIGATION OF WWWX, THE ACQUISITION CORP. AND THE
MERGER SUB TO EFFECT THE Merger. The obligation of WWWX and the Acquisition
Corp. to effect the Merger shall be subject to the fulfillment at or prior to
the Closing Date of the following conditions:

                  (a) Artra shall have performed in all material respects its
agreements contained in this Agreement and the Loan Agreement required to be
performed on or prior to the Closing Date, the representations and warranties of
Artra contained in this Agreement and in any document delivered in connection
herewith shall be true and correct as of the Closing Date, except (i) for
changes specifically permitted by this Agreement and (ii) that those
representations and warranties that address matters only as of a particular date
shall remain true and correct as of such date, and WWWX and the Acquisition
Corp. shall have received a certificate of the President or a Vice President of
Artra, dated the Closing Date, certifying to such effect.

                  (b) From the date of this Agreement through the Effective
Time, there shall not have occurred any change in the financial condition,
business or operations of Artra and its Subsidiaries, taken as a whole, that
would have or would be reasonably likely to have an Artra Material Adverse
Effect.

         5.3 CONDITIONS TO OBLIGATION OF ARTRA TO EFFECT THE MERGER. The
obligation of Artra to effect the Merger shall be subject to the fulfillment at
or prior to the Closing Date of the following conditions:

                  (a) Each of WWWX, the Acquisition Corp. and the Merger Sub
shall have performed in all material respects its respective agreements
contained in this Agreement required to be performed on or prior to the Closing
Date, the representations and warranties of WWWX, the Acquisition Corp. and the
Merger Sub contained in this Agreement and in any document delivered in
connection herewith shall be true and correct as of the Closing Date, except (i)
for changes specifically permitted by this Agreement and (ii) that those
representations and warranties that address matters only as of a particular date
shall remain true and correct as of such date, and Artra shall have received a
certificate of the President or a Vice President of WWWX, the Acquisition Corp.
and the Merger Sub, dated the Closing Date, certifying to such effect.

                  (b) From the date of this Agreement through the Effective
Time, there shall not have occurred any change in the financial condition,
business or operations of the Acquisition Corp. or any of its Subsidiaries that
would have or would be reasonably likely to have an Acquisition Corp. Material
Adverse Effect.

                                       24
<PAGE>

                  (c) Artra and the Acquisition Corp. shall have received
written affirmations from Global Trade Group, Ltd. ("GTG") and all of the
shareholders of GTG ("GTG Shareholders") that their representations, warranties,
covenants, and indemnifications set forth in the Acquisition Agreement dated
January 29, 1999 between GTG, the GTG Shareholders and WWWX, shall inure to the
benefit of and be enforceable by Artra and the Acquisition Corp. as if
originally given to Artra and the Acquisition Corp.

                  (d) Artra and the Acquisition Corp. shall have received
written affirmations from Positive Asset Remarketing, Inc. ("PAR") and all of
the shareholders of PAR ("PAR Shareholders") that their representations,
warranties, covenants, and indemnifications set forth in the Acquisition
Agreement dated January 29, 1999 between PAR, the PAR Shareholders and WWWX,
shall inure to the benefit of and be enforceable by Artra and the Acquisition
Corp. as if originally given to Artra and the Acquisition Corp.

                  (e) The Acquisition Corp. shall have caused AsseTrade to be
converted into or re-created as a Delaware limited liability company, in
accordance with the terms and conditions of an operating agreement that are
reasonably satisfactory to Artra.

                  (f) That certain Non-Competition Agreement of even date
herewith, by and between the Acquisition Corp. and Robert D. Kohn, shall be in
effect at the time of the Closing, without modification or amendment, and there
shall have been no default thereunder.

                                    ARTICLE 6
                                   TERMINATION

         6.1 TERMINATION BY MUTUAL CONSENT. This Agreement may be terminated and
the Merger may be abandoned at any time prior to the Effective Time, before or
after the approval of this Agreement by the shareholders of Artra or WWWX, by
the mutual consent of Artra and WWWX.

         6.2 TERMINATION BY EITHER ARTRA OR WWWX. This Agreement may be
terminated and the Merger may be abandoned by action of the Board of Directors
of Artra if (a) the Merger shall not have been consummated by September 30,
1999, or (b) the approval of either Artra's shareholders or WWWX's shareholders
as required by Section 4.3 shall not have been obtained at a meeting duly
convened therefor or at any adjournment thereof, or (c) a United States federal
or state court of competent jurisdiction or United States federal or state
governmental, regulatory or administrative agency or commission shall have
issued an order, decree or ruling or taken any other action permanently
restraining, enjoining or otherwise prohibiting the transactions described in
this Agreement and such order, decree, ruling or other action shall have become
final and non-appealable; provided, that the party seeking to terminate this
Agreement pursuant to this clause (c) shall have used all reasonable efforts to
remove such injunction, order or decree; and provided, in the case of a
termination pursuant to clause (a) above, that the terminating party shall not
have breached in any material respect its obligations under this Agreement in
any manner that shall have proximately contributed to the failure to consummate
the Merger by September 30, 1999.

                                       25
<PAGE>

         6.3 TERMINATION BY WWWX. This Agreement may be terminated and the
Merger may be abandoned at any time prior to the Effective Time, before or after
the approval by the shareholders of WWWX referred to in Section 4.3, by action
of the Board of Directors of WWWX, if (a) in the exercise of its good faith
judgment as to fiduciary duties to its shareholders imposed by law, the Board of
Directors of WWWX determines that such termination is required, including by
reason of an Alternative Proposal being made; provided that WWWX shall notify
Artra promptly of WWWX's intention to terminate this Agreement or enter into a
definitive agreement with respect to any Alternative Proposal, but in no event
shall such notice be given less than 48 hours prior to the public announcement
of WWWX's termination of this Agreement, or (b) there has been a breach by Artra
of any representation or warranty contained in this Agreement that would have or
would be reasonably likely to have an Artra Material Adverse Effect, or (c)
there has been a material breach of any of the material covenants or agreements
set forth in this Agreement on the part of Artra, which breach is not curable
or, if curable, is not cured within 30 days after written notice of such breach
is given by WWWX to Artra, or (d) the Board of Directors of Artra shall have
withdrawn or modified in a manner materially adverse to WWWX its approval or
recommendation of this Agreement or the Merger.

         6.4 TERMINATION BY ARTRA. This Agreement may be terminated and the
Merger may be abandoned at any time prior to the Effective Time, before or after
the approval by the shareholders of Artra referred to in Section 4.3, by action
of the Board of Directors of Artra, if (a) the Board of Directors of WWWX shall
have withdrawn or modified in a manner materially adverse to Artra its approval
or recommendation of this Agreement or the Merger, or (b) there has been a
breach by WWWX or the Acquisition Corp. of any representation or warranty
contained in this Agreement that would have or would be reasonably likely to
have an Acquisition Corp. Material Adverse Effect, or (c) there has been a
material breach of any of the material covenants or agreements set forth in this
Agreement on the part of WWWX, the Acquisition Corp. or the Merger Sub, which
breach is not curable or, if curable, is not cured within 30 days after written
notice of such breach is given by Artra to WWWX.

         6.5 EFFECT OF TERMINATION AND ABANDONMENT. In the event of termination
of this Agreement and the abandonment of the Merger pursuant to this Article 6,
all obligations of the parties hereto shall terminate, except the obligations of
the parties pursuant to Section 4.11 and except for the provisions of Sections
8.2, 8.3, 8.5, 8.7, 8.8, 8.11, 8.12 and 8.13. In the event of the termination of
this Agreement solely pursuant to clause (b) of Section 6.2 because the
requisite approval of Artra's shareholders shall not have been obtained, all
obligations of WWWX and the Acquisition Corp. to repay the amounts loaned to
either or both of them by Artra under the Loan Agreement shall terminate and the
loans made by Artra to WWWX and to the Acquisition Corp. under the Loan
Agreement shall be forgiven as a "break-up" fee to WWWX and the Acquisition
Corp. equal to the aggregate amount of the Loan as defined in the Loan
Agreement. In the event of the termination of this Agreement solely pursuant to
clause (b) of Section 6.2 because the requisite approval of WWWX's shareholders
shall not have been obtained, WWWX and Acquisition Corp. shall be jointly and
severally obligated to pay Artra a "break-up" fee of $2,000,000, payable in cash
on the

                                       26
<PAGE>

date of such termination, in addition to their obligation to repay the Loan in
full. The parties acknowledge and agree that the foregoing "break-up" fees
represent reasonable estimates of their respective costs and expenses incurred
or to be incurred in connection with the transactions described in this
Agreement. Moreover, in the event of termination of this Agreement pursuant to
Section 6.3 or 6.4, nothing herein shall prejudice the ability of the
non-breaching party from seeking damages from any other party for any willful
breach of this Agreement, including without limitation, reasonable attorneys'
fees and the right to pursue any remedy at law or in equity.

         6.6 EXTENSION, WAIVER. At any time prior to the Effective Time, any
party hereto, by action taken by its Board of Directors, may, to the extent
legally allowed, (a) extend the time for the performance of any of the
obligations or other acts of the other parties hereto, (b) waive any
inaccuracies in the representations and warranties made to such party contained
herein or in any document delivered pursuant hereto and (c) waive compliance
with any of the agreements or conditions for the benefit of such party contained
herein. Any agreement on the part of a party hereto to any such extension or
waiver shall be valid only if set forth in an instrument in writing signed on
behalf of such party.

                                    ARTICLE 7
                         SURVIVAL OF REPRESENTATIONS AND
                           WARRANTIES, INDEMNIFICATION

         7.1 SURVIVAL OF REPRESENTATIONS AND WARRANTIES. All representations,
warranties, covenants, stipulations, certifications, indemnities and agreements
contained herein or in any document delivered pursuant hereto shall survive the
consummation of the transactions described in this Agreement.

         7.2      INDEMNIFICATION.

                  (a) WWWX, the Acquisition Corp. and the Merger Sub shall
defend, indemnify and hold Artra harmless from and against any and all claims,
liabilities, damages, losses, deficiencies and expenses, including reasonable
attorneys' fees and expenses and costs of suit (individually a "Loss" and
collectively "Losses") arising out of any and all inaccurate representations and
warranties and out of any and all breaches of covenants, agreements and
certifications made by or on behalf of WWWX, the Acquisition Corp. and/or the
Merger Sub in this Agreement or in any document delivered by any of them
hereunder, or arising out of or resulting from any occurrence with respect to
the Acquisition Corp. or any of its Subsidiaries or assets prior to the Closing
Date and not disclosed herein.

                  (b) Artra shall defend, indemnify and hold WWWX, the
Acquisition Corp. and the Merger Sub harmless from and against any and all
Losses arising out of any and all inaccurate representations and warranties and
out of any and all breaches of covenants and agreements and certifications made
by or on behalf of Artra in this Agreement or in any document delivered by Artra

                                       27
<PAGE>

hereunder, or arising out of or resulting from any occurrence with respect to
Artra or any of its Subsidiaries or assets prior to the Closing Date and not
disclosed herein.

         7.3 PROCEDURE FOR CLAIMS. A party seeking indemnification under this
Article 7 (an "Indemnified Party") shall give notice of the claim for losses and
a brief explanation of the basis thereof to the party alleged to be responsible
for indemnification hereunder (an "Indemnitor"). The Indemnitor shall promptly
pay the Indemnified Party any amount due under this Article 7. The Indemnified
Party may pursue whatever legal remedies may be available for recovery of the
losses claimed from any Indemnitor.

         7.4 THIRD PARTY CLAIMS. An Indemnified Party shall give any indemnitor
prompt notice of the institution by a third party of any actions, suits or other
administrative or judicial proceedings if the Indemnified Party would be
entitled to claim indemnification under this Article 7 in connection with any
such action, suit or other proceeding. After such notice, any Indemnitor may, or
if so requested by the Indemnified Party, any Indemnitor shall, participate in
any such action, suit or other proceeding or assume the defense thereof, with
counsel satisfactory to the Indemnified Party; provided, however, that the
Indemnified Party shall have the right to participate at its own expense in the
defense of any such action, suit or other proceeding; and provided, further,
that the Indemnitor shall not consent to the entry of any judgment or enter into
any settlement, except with the written consent of the Indemnified Party, that
(a) fails to include as an unconditional term thereof the giving by the claimant
or plaintiff to the Indemnified Party of a release from all liability in respect
of any such action, suit or other proceeding or (b) grants the claimant or
plaintiff any injunctive relief against the Indemnified Party. Any failure to
give prompt notice under this Section 7.4 shall not bar an Indemnified Party's
right to claim indemnification under this Article 7, except to the extent that
an Indemnified Party shall have been harmed by such failure.

                                    ARTICLE 8

                               GENERAL PROVISIONS

         8.1 NOTICES. Any notice required to be given hereunder shall be
sufficient if in writing, and sent by facsimile transmission and by courier
service (with proof of service), hand delivery or certified or registered mail
(return receipt requested and first-class postage prepaid), addressed as
follows:

         If to Artra:      .........       If to WWWX, the Acquisition
                                           Corp. or the Merger Sub:
         Artra Group Incorporated...       WorldWide Web NetworX Corporation
         500 Central Avenue.........       300 Atrium Way, Suite 202
         Northfield, IL  60093......       Mt. Laurel, NJ  08054
         Attention:  Peter R. Harvey,      Attention:  Robert D. Kohn, President
                     President and COO     (609) 627-6893
         (847) 441-6959

                                       28
<PAGE>

         With copies to:   .........             With copies to:

         Duane, Morris & Heckscher LLP      Michelle Kramish Kain, Esquire
         One Liberty Place .........        750 Southeast Third Avenue
         Philadelphia, PA  19103-7396       Ft. Lauderdale, FL  33316-1153
         Attention:  Sheldon M. Bonovitz,   (954) 768-0158
                        Esquire
         (215) 979-1020

or to such other address as any party shall specify by written notice so given,
and such notice shall be deemed to have been delivered as of the date so
telecommunicated, personally delivered or mailed.

         8.2 ASSIGNMENT; BINDING EFFECT. Neither this Agreement nor any of the
rights, interests or obligations hereunder shall be assigned by any of the
parties hereto (whether by operation of law or otherwise) without the prior
written consent of the other parties. Subject to the preceding sentence, this
Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and assigns. Notwithstanding anything
contained in this Agreement to the contrary, nothing in this Agreement,
expressed or implied, is intended to confer on any person other than the parties
hereto or their respective heirs, successors, executors, administrators and
assigns any rights, remedies, obligations or liabilities under or by reason of
this Agreement.

         8.3 ENTIRE AGREEMENT. This Agreement, the Plan of Merger, the
Acquisition Corp. Disclosure Letter, and the Artra Disclosure Letter constitute
the entire agreement among the parties with respect to the subject matter hereof
and supersede all prior agreements and understandings among the parties with
respect thereto. No addition to or modification of any provision of this
Agreement shall be binding upon any party hereto unless made in writing and
signed by all parties hereto.

         8.4 AMENDMENT. This Agreement may be amended by the parties hereto, by
action taken by their respective Boards of Directors, at any time before or
after approval of matters presented in connection with the Merger by the
shareholders of Artra and WWWX, but after any such shareholder approval, no
amendment shall be made which by law requires the further approval of
shareholders without obtaining such further approval. This Agreement may not be
amended except by an instrument in writing signed on behalf of each of the
parties hereto.

         8.5 GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Pennsylvania without regard to
its rules of conflict of laws.

         8.6 COUNTERPARTS. This Agreement may be executed by the parties hereto
in separate counterparts, each of which when so executed and delivered shall be
an original, but all such counterparts shall together constitute one and the
same instrument. Each counterpart may consist of a number of copies hereof each
signed by less than all, but together signed by all of the parties hereto.

                                       29
<PAGE>

         8.7 HEADINGS. Headings of the Articles and Sections of this Agreement
are for the convenience of the parties only, and shall be given no substantive
or interpretive effect whatsoever.

         8.8 INTERPRETATION. In this Agreement, unless the context otherwise
requires, words describing the singular number shall include the plural and vice
versa, and words denoting any gender shall include all genders and words
denoting natural persons shall include corporations and partnerships and vice
versa.

         8.9 WAIVERS. Except as provided in this Agreement, no action taken
pursuant to this Agreement, including, without limitation, any investigation by
or on behalf of any party, shall be deemed to constitute a waiver by the party
taking such action of compliance with any representations, warranties, covenants
or agreements contained in this Agreement. The waiver by any party hereto of a
breach of any provision hereunder shall not operate or be construed as a waiver
of any prior or subsequent breach of the same or any other provision hereunder.

         8.10 INCORPORATION. The Acquisition Corp. Disclosure Letter, the Artra
Disclosure Letter, and the Plan of Merger referred to herein are hereby
incorporated herein and made a part hereof for all purposes as if fully set
forth herein.

         8.11 SEVERABILITY. Any term or provision of this Agreement which is
invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be
ineffective to the extent of such invalidity or unenforceability without
rendering invalid or unenforceable the remaining terms and provisions of this
Agreement or affecting the validity or enforceability of any of the terms or
provisions of this Agreement in any other jurisdiction. If any provision of this
Agreement is so broad as to be unenforceable, the provision shall be interpreted
to be only so broad as is enforceable.

         8.12 ENFORCEMENT OF AGREEMENT. The parties hereto agree that
irreparable damage would occur in the event that any of the provisions of this
Agreement was not performed in accordance with its specific terms or was
otherwise breached. It is accordingly agreed that the parties shall be entitled
to an injunction or injunctions to prevent breaches of this Agreement and to
enforce specifically the terms and provisions hereof in any court located in the
Commonwealth of Pennsylvania, this being in addition to any other remedy to
which they are entitled at law or in equity.

         8.13 SUBSIDIARIES. As used in this Agreement, the word "Subsidiary"
when used with respect to any party means any corporation or other organization,
whether incorporated or unincorporated, of which such party directly or
indirectly owns or controls at least one-half of the securities or other
interests having by their terms ordinary voting power to elect a majority of the
board of directors or others performing similar functions with respect to such
corporation or other organization, or any organization of which such party is a
general partner or manager.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       30
<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement and caused
the same to be duly delivered on their behalf on the day and year first written
above.

                                                    ARTRA GROUP INCORPORATED

                                                    By://s// PETER R. HARVEY

                                                        Title:  PRESIDENT

                                                    WORLDWIDE WEB NETWORX

                                                    CORPORATION

                                                    By://s// ROBERT D. KOHN

                                                        Title:  PRESIDENT

                                                    NA ACQUISITION CORP.

                                                    By://s// ROBERT D. KOHN

                                                        Title:  PRESIDENT

                                                    WWWX MERGER SUBSIDIARY, INC.

                                                    By://s//  ROBERT D. KOHN

                                                        Title:  PRESIDENT

                                       31
<PAGE><PAGE>

                                                                  Exhibit 10.9

                              ACQUISITION AGREEMENT

        THIS ACQUISITION AGREEMENT (this "AGREEMENT") is dated as of February
24, 1999, by and between POSITIVE ASSET REMARKETING, INC., a Massachusetts
corporation ("PAR") and WORLD WIDE WEB NETWORX CORPORATION, a Delaware
corporation ("WWWX").

                                    RECITALS

        A. PAR holds certain rights to proprietary information including a
proprietary banking and trade operation that establishes definitive on-line
electronic trading and banking functions utilizing cash, trade credits and/or a
combination of cash and trade credits as methods OF payment (THE ATM CENTER), as
well as proven methodologies for the utilization of the on-line electronic
trading and banking functions in both a general commercial application over the
Internet and within a closed corporate environment over an Intranet.

        B. PAR desires to transfer 100% of its interest in the ATM Center to
WWWX, and WWWX desires to acquire the ATM Center, on the terms and SUBJECT TO
the conditions set forth herein.

        NOW THEREFORE, in consideration of the mutual covenants herein and for
other good and valuable consideration, the receipt and sufficiency OF which is
hereby acknowledged, and intending to be legally bound hereby, the parties agree
as follows:

         SECTION 1. PURCHASE AND SALE

         1.1 AGREEMENT TO SELL. At the Closing (hereinafter defined), PAR shall
sell, grant, convey, transfer, assign and deliver to WWWX, upon the terms and
subject to the conditions of this Agreement, free and clear of all liens,
encumbrances and charges of any kind, 100% of Par's interest in the ATM Center.
As used herein, the "ATM Center" shall include all of Par's right, title and
interest in and to the ATM Center, whether tangible, intangible, real, personal
or mixed, wherever located, including but not limited to diagrams, flow charts,
conceptual and methodological presentations, trade secrets, customer lists,
goodwill, intellectual property, contracts, books and records, telephone
numbers, licenses, permits, software, hardware and disks, data files (whether on
disks or other media), logos, trademarks, trade-names, marketing know-how and
materials, technology and technical know-how.

         1.2 AGREEMENT TO PURCHASE. At the Closing, WWWX shall acquire from PAR,
upon the terms and subject to the conditions of this Agreement and in reliance
upon the representations and warranties of PAR in this Agreement and in any
Exhibits and Schedules attached hereto, the ATM Center and, as consideration
therefor, shall pay to PAR the Purchase Price (hereinafter defined).

<PAGE>

         SECTION 2. PURCHASE PRICE; NO ASSUMPTION OF LIABILITIES

         2.1 PURCHASE PRICE. In consideration for the ATM Center and the
Non-Competition Agreement set forth below (the "PURCHASE PRICE"), WWWX shall
issue and deliver to PAR the sum of Seven Hundred and Fifty Thousand Dollars
($750,000.00) and Three Million Five Hundred Thousand (3,500,000) fully paid and
non-assessable shares of the common stock of WWWX (the "WWWX Stock"), which
shares are being issued in a private placement subject to all applicable Federal
and State securities laws, regulations and restrictions, and shall bear a legend
to that effect.

         2.2 NO ASSUMPTION OF LIABILITIES. WWWX is not assuming or agreeing to
pay or discharge any of the liabilities and obligations of PAR, whether or not
associated with or arising out of the Business, and nothing in this Agreement or
otherwise shall be construed to the contrary. All such liabilities and
obligations whether known or unknown, direct or contingent, in litigation or
threatened or not yet asserted with respect to any aspect of the Business or
otherwise are and shall remain the responsibility of PAR. Without limiting the
generality of the foregoing, PAR shall remain specifically responsible for (a)
any liabilities with respect to any Taxes (as herein defined), (b) any
obligation for my employee grievance pending at the Closing Date or accruing
prior to the Closing Date, (c) my obligation with respect to any litigation
accruing or arising prior to the Closing Date, and (d) any obligations for trade
accounts payable owed on the Closing Date. Further, in no event shall WWWX
assume or incur any liability or obligation with respect to any Taxes payable by
PAR incident to or arising as a consequence of the consummation by PAR of this
Agreement or any cost or expense incurred by PAR incident to or arising as a
consequence of such consummation of the negotiations in connection with this
Agreement.

         SECTION 3. CLOSING; TRANSFER PROCEDURES

         3.1 CLOSING. The closing of the sale and purchase of the ATM Center
(the "CLOSING") shall be held at 10 a.m., local time, on February 29, 1999 (the
"CLOSING DATE") at the offices of WWWX, or on such other date and at such other
time or place as the parties may agree in writing.

         3.2 TRANSFER OF THE PURCHASED ASSETS. At the Closing, PAR shall deliver
to WWWX such bills of sale, endorsements, stock certificates, assignments and
instruments of conveyance and transfer, in form and substance reasonably
satisfactory to WWWX, as shall be reasonably required to vest in WWWX all of
PAR's right, title and interest in and to the ATM Center free and clear of all
liens and encumbrances as provided in Section 3.4.

         3.3 PURCHASE PRICE. At the Closing, WWWX shall deliver to PAR the WWWX
Stock, in accordance with Section 2 hereof

         3.4 RELEASE OF LIENS. At or prior to the Closing, PAR shall deliver all
necessary releases of liens and Uniform Commercial Code termination statements
in forms reasonably acceptable to counsel for WWWX so that PAR's title to the
ATM Center is free and clear of all liens and encumbrances or as of the Closing
will be.
<PAGE>

         SECTION 4. REPRESENTATIONS AND WARRANTIES OF PAR AND THE SHAREHOLDERS

         PAR hereby represents and warrants to WWWX, intending for WWWX to rely
hereon, as follows

         4.1 ORGANIZATION AND GOOD STANDING. PAR is a corporation duly
organized, validly existing and in good standing under the laws of the
Commonwealth of Massachusetts. PAR owns the ATM Center free and clear of any
liens, encumbrances or other rights of third parties. PAR has no knowledge of
any default or claimed or alleged default, or state of facts which with notice
or lapse of time or both, would constitute a default, in any obligation of PAR
or of any other party to be performed thereunder.

         4.2 FINANCIAL CONDITION. PAR has delivered to WWWX an overall business
plan with financial projections for the ATM Center business (the "PLAN"). The
Plan represents line and complete lists of the assets and liabilities of PAR
pertaining to the ATM Center, on the date hereof and as anticipated to exist at
the Closing, and together present fairly the financial condition, results of
operations, business, properties, assets, liabilities and future prospects of
the ATM Center Business as of the dates thereof and for the periods indicated
therein, there has been no material adverse change in the financial condition or
future prospects of the ATM Center Business, and no fact is now known to PAR
which materially adversely affects or in the future may materially adversely
affect the financial condition or future prospects of the ATM Center Business.

         4.3 TITLE TO THE ATM CENTER. PAR owns outright, and has good and
marketable title to, all of its assets, including without limitation the ATM
Center and all related technical information and other intellectual property
rights necessary to the conduct of the ATM Center Business (collectively, the
"TECHNOLOGY"), free and clear of all liens, pledges, mortgages, security
interests, conditional sales contracts or other encumbrances or conflicting
claims of any nature whatsoever. In particular, and not in limitation of the
foregoing:

                  (a) PAR has not received my notice of any claim of
infringement or violation of any third party's copyrights, patents, trade
secrets, trademarks or other proprietary tights relating to the ATM Center nor,
to the knowledge of PAR, does any basis for any such claim of right or interest
in the ATM Center or otherwise adverse to par's unqualified right to exclusively
own and fully utilize the ATM Center exist;

                  (b) there are no pending or threatened suits, legal
proceedings, claims or governmental investigations against or with respect to
the ATM Center or my component thereof;

                  (c) there are no licenses, assignments, instruments of
transfer, pledges, encumbrances or agreements that are currently outstanding or
in effect whereby any interest in or to the ATM Center has been licensed,
assigned, transferred, pledged or otherwise conveyed to any person or entity;

<PAGE>

                  (d) to the knowledge of PAR, neither the use and development
of the ATM Center, nor the offer for sale, sale and use of services related to
the ATM Center, infringes or will infringe upon any intellectual property right
of my third party anywhere in the world;

                  (e) there are no outstanding agreements, confinements or
encumbrances inconsistent with the provisions of this Agreement, whether made or
entered into by the PAR or otherwise;

                  (f) to the knowledge of PAR, no information relating to the
ATM Center has been disclosed in a manner as to become available to the public;

                  (g) PAR owns the entire worldwide right, title, and
interest in and to all intellectual property tights in the ATM Center
Business, including without limitation all potential copyrights in all
commercial business flow and methodology programs and/or other works of
authorship included in the ATM Center, all potential patent rights in and to
any and all inventions included in the ATM Center, such patent rights
including without limitation all patents and patent applications directed to
such inventions and the right to file patent applications directed to such
inventions, and all rights in the nature of trade secrets in the ATM Center
Business.

         4.4 TAX MATTERS. PAR has filed or caused to be filed all Tax Returns
(as defined herein) through the taxable year ended December 31, 1998 which are
due and required to be filed and have paid or caused to be paid all Taxes due
through the date hereof and any assessment of Taxes removed, except Taxes or
assessments that are being contested in good faith and have been adequately
reserved against. PAR has received no notice of, and to the knowledge of PAR
there is no pending or threatened proceeding or claim by any governmental agency
for assessment or collection of Taxes from PAR. All such Tax Returns have been
prepared on the same basis as that of previous years and in accordance with all
applicable laws, regulations and requirements, and accurately reflect the
taxable income (or other measure of Tax) of PAR. PAR has satisfied all Federal,
state, local and foreign withholding tax requirements including but not limited
to income, social security and employment tax. There are no liens for Taxes on
the ATM Center Business. No transaction contemplated by this Agreement is
subject to withholding under Section 1445 of the Internal Revenue Code of 1986,
as amended (the "Code"). As used herein, "Tax" or "Taxes" means any federal,
state, local and foreign income, payroll, withholding, excise, sales, use,
personal property, use and occupancy, business and occupation, mercantile, real
estate, gross receipts, license, employment, severance, stamp, premium, windfall
profits, social security (or similar unemployment), disability, transfer,
registration, value added, alternative, or add-on minimum, estimated, or capital
stock and franchise and other tax of any kind whatsoever, including any
interest, penalty or addition thereto, whether disputed or not, and "Tax
Returns" means all returns, reports, forms, declarations, claims for refunds or
other information required to be filed or supplied to any person including a
taxing authority in connection with Taxes (including, without limitation,
information returns and declarations of estimated Tax). (Any reference to
"filed" or "file" with respect to Taxes shall also be deemed to include
"supplied" or "supply.")

         4.5 LITIGATION. Except as may be disclosed in Schedules attached hereto
and incorporated herein:

<PAGE>

                  (a) there is no dispute, claim, action, suit, proceeding,
arbitration or governmental investigation, either administrative or judicial,
pending, or to the knowledge of PAR threatened, against PAR, or the ATM Center
Business; and

                  (b) PAR is not in default with respect to any order, writ,
injunction or decree of any court or governmental department, commission, board,
bureau, agency or instrumentality, which involves the possibility of any
judgment or liability which may result in any material adverse change in the
financial condition of PAR.

         4.6 ABSENCE OF UNDISCLOSED LIABILITIES. PAR has no liabilities or
obligations accrued, absolute, contingent or otherwise, except as disclosed in
the Financials or in this Agreement or any Exhibits or Schedules hereto or as
incurred, consistent with past business practice, in the normal and ordinary
course of the Business, and none of which is material and adverse. For purposes
of this Agreement, material means any matter which could exceed $5,000.

         4.7 MATERIAL CONTRACTS. PAR represents and WWWX acknowledges that there
are no existing contracts, agreements, commitments or obligations (a) with
respect to the ATM Center Business, which involves the payment to or from PAR of
amounts in excess of $5,000 per year, (b) any license, franchise or distribution
agreement, which involves payments to or from PAR in excess of $5,000 per year,
and (c) any lease of tangible personal property, which involves payments to or
from PAR in excess of $5,000 per year,

         4.8 INTANGIBLE ASSETS. Schedule I sets forth a list of (a) all patents,
copyrights, trade names, trademarks, service marks and names (registered or
unregistered), and applications and registrations therefor, (b) all research,
development and commercially practiced processes, trade secrets, know-how,
inventions, and engineering and other technical information, (c) all computer
programs, software and data bases owned by or licensed to the ATM Center
Business, (d) all information, drawings, specifications, designs, plans,
financial, marketing and business data and plans, other proprietary,
confidential or intellectual information or property and all copies and
embodiments thereof in whatever form or medium and (e) all customer and
membership lists of the ATM Center Business (collectively, "INTANGIBLE ASSETS")
as well as a list of all registrations thereof and pending applications
therefor. Each of the Intangible Assets listed on such schedule as being owned
by PAR is owned by PAR free and clear of any and all liens and encumbrances and,
to the knowledge of PAR no other person or entity has any claim of ownership
with respect thereto.

         4.9 COMPLIANCE WITH LAWS. PAR has complied with and is not in default
under, or in violation of, any law, ordinance, rate, regulation or order
(including, without limitation, any environmental, safety, employee benefit,
health or price or wage control law, ordinance, role, regulation or order)
applicable to the Business which materially adversely affect or, so far m PAR
can now foresee, may in the future materially adversely affect, the ATM Center
Business.

         4.10 AUTHORIZATION. The execution and delivery of this Agreement, and
the sale, transfer and other actions contemplated hereby have been duly
authorized, including, with respect to PAR, by all necessary action of its Board
of Directors, and neither the execution and delivery of this Agreement nor the
consummation of the transactions contemplated herein by PAR constitutes a
violation or breach of applicable law or any contract or instrument to which PAR
is

<PAGE>

a party or by which it or they are bound, or any order, writ, injunction,
decree or judgment applicable to it or them, or constitutes a default (or
would but for the giving of notice or lapse of time or both, constitute a
default) under my contract or instrument to which PAR is a party or by which
it is bound, or conflicts with or violates my provision of the Articles of
Incorporation or By-Laws of PAR. Without limiting the generality of the
foregoing provisions, the execution and delivery by PAR of this Agreement and
the consummation of the transactions contemplated hereby will not (i) result
in a violation or default or give to any other person any rights, including
rights of termination, cancellation of acceleration under any applicable law,
role or regulation, any agreement, instrument or policy to which PAR is a
party or may be bound, (ii) result in my judgment, order, injunction, decree
or ruling of any court or governmental authority to which PAR is a party or
subject or (iii) require any authorization, consent, approval, exemption or
other action by any court or administrative or governmental body which has
not been obtained or any notice to or filing with any court or administrative
or governmental body which has not been given or done. This Agreement has
been duly executed and delivered by PAR and constitutes the legal, valid and
binding obligation of PAR enforceable in accordance with its terms.

         4.11 CONSENTS. No consent, waiver, approval, order, permit or
authorization of, or declaration or filing with, or notification to, any person,
entity or governmental body is required on the part of PAR or any of the
Shareholders in connection with the execution and delivery by PAR of this
Agreement, or the compliance by PAR with any of the provisions hereof

         4.12 INVESTMENT REPRESENTATIONS.

                  (a) the shares of WWWX Stock being acquired by PAR are
intended to be and are being acquired solely for PAR's account without a view to
the current distribution or resale thereof, and PAR does not have any contract,
undertaking, agreement or arrangement to sell or otherwise transfer or dispose
of any of such shares in any manner to any person or entity not involved in the
Company;

                  (b) PAR will not sell, transfer or otherwise dispose of any of
the shares of WWWX Stock being acquired by PAR, in any manner, unless at the
time of such transfer: (i) a registration under the Securities Act of 1933, as
amended (the "Securities Act") and under all other applicable securities laws is
in effect with respect to the shares of the WWWX Stock to be sold, transferred
or disposed of, and PAR complies with all of the requirements of the Securities
Act and such other applicable securities laws with respect to the proposed
transaction; or (ii) PAR has obtained and has provided to WWWX satisfactory
evidence that the proposed sale, transfer or disposition does not require
registration under the Securities Act or such other applicable securities laws;

                  (c) the shares of WWWX Stock being acquired by PAR have not
been issued by WWWX pursuant to a registration under the Securities Act, and PAR
must therefore hold such shares indefinitely unless a subsequent registration or
exemption therefrom is available and is obtained. No federal or state agency has
approved or disapproved the shares of WWWX Stock being acquired by PAR for
investment or any other purpose. All of the shares of WWWX Stock being acquired
by PAR have been issued and sold to PAR in reliance upon a specific exemption
from the registration requirements of the Securities Act which depends, in part,
upon the accuracy of PAK's representations, warranties and agreements set forth
in this Agreement; and

                  (d) PAR is an "accredited investor," as such term is defined
in Regulation D under the Securities Act.

         4.13 DISCLOSURE. No representation or warranty by PAR in this Agreement
or in any other Exhibit, Schedule, list, certificate or document delivered
pursuant to this Agreement, contains or will contain at Closing my untrue
statement of material fact or omits or will omit to state any material fact
necessary to make any statement herein and therein not misleading.

         SECTION 5. REPRESENTATIONS AND WARRANTIES OF WWWX

         WWWX hereby represents and warrants to PAR, intending for PAR to rely
hereon, as follows:

         5.1 ORGANIZATION AND GOOD STANDING. WWWX is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Delaware.

         5.2 AUTHORIZATION. The execution and delivery of this Agreement and
other actions contemplated hereby have been duly authorized by all necessary
action of the Boards of Director and shareholders of WWWX, and neither the
execution and delivery of this Agreement nor the consummation of the
transactions contemplated herein by WWWX constitutes a violation or breach of
applicable law or any contract or instrument to which WWWX is a party or is
bound, or any order, writ, injunction, decree or judgment applicable to it, or
constitutes a default (or would but for the giving of notice or lapse of time or
both, constitute a default) under any contract or instrument to which WWWX is a
party or by which it is bound, or conflicts with or violates any provision of
the Articles of Incorporation or By-Laws of WWWX. Without limiting the
generality of the foregoing provisions, the execution and delivery by WWWX of
this Agreement and the consummation of the transactions contemplated hereby will
not (i) result in a violation or default or give to any other person any rights,
including rights of termination, cancellation or acceleration under any
applicable law, rule or regulation, any agreement, instrument or policy to which
WWWX is a party or may be bound, (ii) result in any judgment, order, injunction,
decree or ruling of any court or governmental authority to which it is a party
or subject or (iii) require any authorization, consent, approval, exemption or
other action by any court or administrative or governmental body which has not
been obtained or any notice to or filing with my court or administrative or
governmental body which has not been given or done. This Agreement has been duly
executed and delivered by WWWX and constitutes the legal, valid and binding
obligation of WWWX enforceable in accordance with its terms.

         5.3 CONSENTS. No consent, waiver, approval, order, permit or
authorization of, or declaration or filing with, or notification to, any person,
entity or governmental body is required on the part of WWWX in connection with
the execution and delivery by WWWX of this Agreement, or the compliance by WWWX
with any of the provisions hereof.

         5.4 DISCLOSURE. No representation or warranty by WWWX in this Agreement
or in any other Exhibit, Schedule, fist, certificate or document delivered
pursuant to this Agreement, contains or will contain at Closing any untrue
statement of material fact or omits or will omit to state any material fact
necessary to make any statement herein and therein not misleading.

<PAGE>

         SECTION 6. CONDUCT PENDING THE CLOSING

         PAR hereby covenants and agrees that, pending the Closing and except as
otherwise approved in advance in writing by WWWX:

         6.1 CONDUCT of BUSINESS. PAR shall carry on and cause the ATM Center
Business to carry on the development of its business diligently and
substantially in the same manner as heretofore and refrain from any action that
would result in the breach of any of the representations, warranties or
covenants of PAR hereunder.

         6.2 ACCESS. WWWX and its authorized representatives shall have full
access during normal business hours upon prior arrangement with PAR to all
properties, books, records, contracts and documents of PAR relating to the ATM
Center business, and PAR shall furnish or cause to be furnished to WWWX and its
authorized representatives all information with respect to the Purchased Assets
and ATM Center business as they may reasonably request.

         6.3 CONTRACTS AND COMMITMENTS. PAR shall not enter into my contract,
commitment or transaction relating in any way to the ATM Center business, except
in accordance with the ordinary course of business.

         6.4 SALE OF CAPITAL ASSETS. PAR will not sell or dispose of, or agree
to sell or dispose of, any of the Purchased Assets, except in accordance with
the ordinary course of business.

         6.5 LIABILITIES. PAR will not create any indebtedness or any other
fixed or contingent liability relating in any way to the Business or the
Purchased Assets, including, without limitation, liability as a guarantor or
otherwise with respect to the obligations of others except for accounts payable
in the ordinary course of business consistent with past practices.

         6.6 INSURANCE. Any present insurance insuring PAR, their respective
employees or the ATM Center business wherever located, will be maintained by PAR
in all respects.

         6.7 PRESERVATION OF ORGANIZATION AND EMPLOYEES. PAR will use its best
efforts to preserve the Business intact, to keep available its key employees (if
any), and to preserve the present relationships of PAR with my suppliers,
customers, banks and others having business relations with them.

         6.8 NO DEFAULT. PAR shall not do any act or omit to do any act, or
permit any act or omission to act, which will cause a material breach of any
material contract, commitment or obligation by which it is bound regarding the
ATM Center Business.

         6.9 AUTHORIZATION FROM OTHERS. Prior to the Closing Date, PAR shall
have obtained all authorizations, waivers, consents and permits of others
required to permit the consummation by PAR of the transactions contemplated by
this Agreement or to remove any breach or threatened breach of any
representation, warranty or agreement of PAR herein.

<PAGE>

         SECTION 7. CONDITIONS PRECEDENT TO WWWX'S OBLIGATIONS

         All obligations of WWWX under this Agreement is subject to the
fulfillment, prior to or at the Closing, of each of the following conditions
unless otherwise waived in writing by WWWX:

         7.1 REPRESENTATIONS AND WARRANTIES. PAR's representations and
warranties contained in this Agreement or in any list, certificate or document
delivered pursuant to the provisions hereof shall be true at and as of the time
of Closing.

         7.2 PERFORMANCE OF AGREEMENTS. PAR shall have performed and complied
with all agreements and conditions required by this Agreement to be performed or
complied with by it or them prior to or at the Closing, including without
limitation PAR's obligation to deliver the Purchased Assets free and clear of
liens and encumbrances in accordance with Section 3.4 hereof and the covenants
set forth in Section 6 hereof.

         7.3 ADVERSE CHANGE. There shall not have been a material adverse
change, occurrence or casualty, financial or otherwise, in PAR or the Purchased
Assets, whether covered by insurance or not.

         7.4 CLOSING DELIVERIES. PAR shall have delivered the documents and
other items described in Section 3 hereof.

         7.5 NO LITIGATION. There shall not be any pending or, to the knowledge
of PAR, threatened action, proceeding or investigation by or before any court,
arbitrator, governmental body or agency which shall seek to restrain, prohibit
or invalidate the transactions contemplated hereby or which, if adversely
determined, would result in a breach of a representation, warranty or covenant
of any party herein.

         7.6 DUE DILIGENCE. Prior to Closing, WWWX shall have the right to
conduct a due diligence investigation, audit and financial review of the ATM
Center Business and all of the Purchased Assets and liabilities in order that
WWWX, in its sole discretion, may confine its understanding and valuation of the
Business and the Purchased Assets and verifying, among other things, no
undisclosed liabilities or potential liabilities of PAR. Such due diligence
shall include, without limitation, all operational, legal, contractual,
litigation, employment, purchasing, marketing, accounting, financial, tax and
other aspects of the Business. If such investigation is not satisfactory to
WWWX, for any reason, WWWX may terminate this Agreement and shall have no
further obligation hereunder. WWWX'S conduct of its due diligence shall not in
any way relieve PAR of its obligations and liabilities contained in this
Agreement including without limitation, the accuracy of the representations and
warranties of PAR set forth in this Agreement.

         SECTION 8. CONDITIONS PRECEDENT TO PAR'S OBLIGATIONS

         All obligations of PAR under this Agreement are subject to the
fulfillment, prior to or at the Closing, of each of the following conditions
unless otherwise waived in writing by PAR.

<PAGE>

         8.1 REPRESENTATIONS AND WARRANTIES. WWWX's representations and
warranties contained in this Agreement shall be true at and as of the time of
Closing.

         8.2 PERFORMANCE OF AGREEMENTS. WWWX shall have performed and complied
with all agreements and conditions required by this Agreement to be performed or
complied with by it prior to or at the Closing.

         8.3 CLOSING DELIVERIES. WWWX shall have delivered the WWWX Stock to PAR
in exchange for the Purchased Assets.

         8.4 NO LITIGATION. There shall not be any pending or threatened action,
proceeding or investigation by or before any court, arbitrator, governmental
body or agency which shall seek to restrain, prohibit or invalidate the
transactions contemplated hereby or which, if adversely determined, would result
in a breach of a representation, warranty or covenant of any party herein.

         SECTION 9. FEES AND EXPENSES

         9.1 REPRESENTATION AND INDEMNITY WITH RESPECT TO BROKERS. Each party
hereby represents and warrants to the other that it has not engaged or dealt
with any broker or other person who may be entitled to any brokerage fee or
commission in respect of the execution of this Agreement or the consummation of
the transactions contemplated hereby. Without limiting the generality of the
foregoing, each of the parties hereto shall indemnify and hold the other
blameless against any claim, loss, liability or expense which may be asserted
against such other party as a result of such first mentioned party's dealings,
arrangements or agreements with any such broker or person.

         9.2 EXPENSES OF THE TRANSACTION. Each party hereto shall pay its own
expenses incidental to the preparation of this Agreement and the consummation of
the transactions contemplated hereby.

         9.3 SALES TRANSFER AND DOCUMENTARY STAMPS. WWWX shall be responsible
for payment of all sales, transfer and documentary taxes or stamps, if any, due
as a result of the transfer of the Purchased Assets hereunder.

         SECTION 10. INDEMNIFICATION

         10.1 SURVIVAL OF REPRESENTATIONS, WARRANTIES AND AGREEMENTS. All
representations, warranties, covenants and agreements made by any party in this
Agreement or in any certificate delivered pursuant hereto shall survive the
Closing.

         10.2 INDEMNIFICATION BY PAR. PAR shall defend, indemnify and hold
WWWX harmless from and against (a) my and all liabilities and obligations of,
or claims against, PAR arising or accruing prior to the Closing and (b) all
actual or potential claims, demands, liabilities, damages, losses and
out-of-pocket expenses including reasonable attorneys' fees whether or not
reduced to judgment, order or award, caused by or arising out of (i) the
breach of any covenant or agreement of PAR in this Agreement or in any
certificate delivered by it or them pursuant hereto, or (ii) the failure of
any representations or warranties made by PAR in this Agreement or in any

<PAGE>

certificate delivered by it or them pursuant hereto to have been true and
correct when made and on and as of the Closing Date.

         10.3 INDEMNIFICATION BY WWWX. WWWX shall defend, indemnify and hold PAR
harmless from and against all actual or potential claim, demands, liabilities,
damages, losses and out-of-pocket expenses including reasonable attorneys' fees
whether or not reduced to judgment, order or award, caused by or arising out of
(a) the breach of any covenant or agreement of WWWX in this Agreement or in any
certificate delivered by it pursuant hereto, or (b) the failure of any
representations or warranties made by WWWX in this Agreement or in any
certificate delivered by its pursuant hereto to have been true and correct when
made and on and as of the Closing Date.

         10.4 NOTICE OF INDEMNIFICATION. In the event any legal proceeding shall
be threatened or instituted or any claim or demand shall be asserted by any
person or entity in respect of which payment may be sought by one party hereto
from another party under the provisions of this Section 10, the party seeking
indemnification (the "INDEMNITEE") shall promptly cause written notice assertion
of the of any such claim of which it has knowledge which is covered by this
indemnity to be forwarded to the other party (the "INDEMNITOR"); provided,
however, that failure of the Indemnitee to give the Indemnitor notice as
provided in this Section shall not relieve the Indemnitor of its obligations
hereunder except to the extent that the Indemnitor shall have been prejudiced by
such failure. Any notice of a claim by reason of any of the representations,
warranties or covenants contained in this Agreement shall state in reasonable
detail the representation, warranty or covenant with respect to which the claim
is made, the facts giving rise to an alleged basis for the claim, and the amount
of the liability asserted against the Indemnitor by reason of the claim.

         10.5 INDEMNIFICATION PROCEDURE FOR THIRD PARTY CLAIMS. Except as
otherwise provided herein, in the event of the initiation of any legal
proceeding against an Indemnitee by a third party, the Indemnitor shall be
entitled to assume the defense thereof, at the Indemnitor's sole expense. If the
Indemnitor assumes the defense of any legal proceeding, it will not settle the
legal proceeding without the prior written consent of the Indemnitee (which
shall not be unreasonably withheld or delayed). The Indemnitee shall cooperate
in all reasonable respects with the Indemnitor and its attorneys in the
investigation, trial and defense of any legal proceeding and my appeal arising
therefrom (including the filing in the Indemnitee's name of appropriate cross
claims and counterclaims). The Indemnitee may, at its own cost, participate in
any investigation, trial and defense of such legal proceeding controlled by the
Indemnitor and any appeal arising therefrom. If after receipt of a written
notice pursuant to Section 10.4 hereof, the Indemnitor does not undertake to
defend any such legal proceeding, the Indemnitee may, but shall have no
obligation to, contest or defend against any legal proceeding and the Indemnitor
shall be bound by the result obtained with respect thereto by the Indemnitee
(including, without limitation, the settlement thereof without the consent of
the Indemnitor). If there are one or more legal defenses available to the
Indemnitee that conflict with those available to the Indemnitor, the Indemnitee
shall have the right, at the expense of the Indemnitor, to assume the defense of
the legal proceeding; provided, however, that in any event the Indemnitee may
not settle such legal proceeding without the consent of the Indemnitor, which
consent shall not be unreasonably withheld or delayed. As used herein, a "legal
proceeding" includes any judicial, administrative or arbitral action, suit,
proceeding (public or private), claim or governmental proceeding.

<PAGE>

         10.6 PAYMENT OF INDEMNIFICATION AMOUNTS. Amounts payable by the
Indernnitor to the Indimnitee in respect of any claims hereunder shall be
payable by the Indemnitor as incurred by the Indemnitee.

         10.7 RIGHT OF WWWX SUCCESSORS TO ENFORCE. PAR agrees that the
provisions of this Section 10 shall inure to the benefit of, and may be enforced
by, my successor to the interests of WWWX (by assignment, merger, operation of
law or otherwise, and regardless of whether such successor acquires such
interests directly from WWWX), holding all or any part of the Purchased Assets
("WWWX SUCCESSOR"), to the same extent as if the representations, warranties,
covenants and agreements of PAR contained in this Agreement had been made
directly to such WWWX Successor. PAR further agree that they shall execute and
deliver to my WWWX Successor such further agreements, instruments or other
documents as may be reasonably required to affirm the obligations of PAR and the
rights of such WWWX Successor hereunder.

         SECTION 11. POST-CLOSING MATTERS; NON-COMPETITION AGREEMENT

         11.1 FURTHER ASSURANCES: At the request of WWWX or any WWWX Successor
from time to time, PAR shall without further cost to WWWX or such WWWX
Successor, at any time and from time to time, promptly do, execute, acknowledge
and deliver, or cause to be done, executed, acknowledged and delivered, to WWWX
or such WWWX Successor, as the case may be, all such further acts, transfers,
assignments, deeds, powers and assurances of title, and additional papers and
instruments, and all do or muse to be done all acts or things as often as may be
proper or necessary or advisable for better assuring, conveying, transferring
and assigning the Purchased Assets (including, without limitation, the
technology), and effectively to carry out the intent hereof, and to vest in WWWX
or, as applicable, any WWWX Successor, the entire fight, title and interest in
and to all of the Purchased Assets. Without limiting the generality of the
foregoing, PAR agrees to furnish to WWWX or my WWWX Successor, all data,
formulae, models, programs, software, notes, documents and all other information
regarding the ATM Center Business in their possession, necessary or useful for
WWWX or such WWWX Successor to develop the ATM Center Business, to utilize the
Technology and to enable its attorneys to evaluate and properly protect the
Technology.

         11.2 RESPONSIBILITY FOR LITIGATION. PAR shall be responsible for all
present or future litigation and claims for injury and related expenses arising
out of the conduct of the Business up to the time of Closing, including without
limitation, any litigation disclosed on Schedule 4.5 hereto.

         11.3 TRADE SECRETS/NON-COMPETITION AGREEMENT.

                  (a) PAR shall not at any time after the Closing use for its or
their own benefit, or divulge to any other person, firm or corporation, my
confidential information or trade Secrets relating in any way to the Business,
and at the Closing, PAR shall deliver to WWWX all lists of customers, books,
records, trade secrets, intellectual property and all other property
constituting confidential information belonging to PAR and related to the ATM
Center Business. For the purposes hereof, the term "CONFIDENTIAL INFORMATION"
means any and all information related to

<PAGE>

the ATM Center Business, customer and marketing relationships, and business and
financial information of the Business.

                  (b) As a material inducement to WWWX to enter into this
Agreement, in consideration of the Purchase Price paid hereunder, and for other
good and valid consideration, the receipt and sufficiency of which is hereby
acknowledged, as well as in recognition of the fact that the value of the
Purchased Assets would be diminished substantially if PAR was to engage in any
business or activities in competition with the Business, PAR covenants and
agrees that, except as required in the performance of their duties set forth in
this Agreement or any other written agreement with WWWX or my WWWX Successor,
each will not for a period of one (1) year after the Closing Date engage
directly or indirectly, whether individually or in partnership or in conjunction
with any other person, firm, association, syndicate or corporation, as
principal, agent, shareholder, employee, consultant or in any other manner
whatsoever, in my business activity competitive with the ATM Center Business.

                  (c) PAR agrees that any violation of any of the covenants in
this Section would cause substantial and irreparable injury to WWWX or any WWWX
Successor, whereupon PAR may be enjoined from my breach or threatened breach
thereof in addition to, but not in limitation of any of the fights or remedies
to which WWWX or any such WWWX Successor is or may be entitled to at law or in
equity or under this Agreement

                  (d) PAR agrees that the limitations set forth above are
reasonable in time and geographic scope, and if any provision hereof is held
invalid or unenforceable, the remainder shall nevertheless remain in full force
and effect. In particular, PAR agrees that if any court of competent
jurisdiction shall determine that the duration or geographical limit of the
foregoing non-competition covenant is invalid, unreasonable or unenforceable, it
is the intention of PAR and WWWX that it shall not be terminated thereby but
shall be deemed to have been mended to the extent required to render it valid
and enforceable, such amendment to apply only with respect to the jurisdiction
of the court making such adjudication.

         11.4 RIGHT OF WWWX SUCCESSORS TO ENFORCE. PAR agrees that the
provisions of this Section I shall inure to the benefit of, and may be enforced
by, any WWWX Successor, to the same extent as if the representations,
warranties, covenants and agreements of PAR contained herein had been made
directly to such WWWX Successor, and with the further understanding and
agreement that the term "Business" as used herein shall include the Business as
conducted by any Such WWWX Successor. PAR further agrees that they shall execute
and deliver to any WWWX Successor such further agreements, instruments or other
documents as may be reasonably required to affirm the obligations of PAR and the
tights of such WWWX Successor hereunder.

         SECTION 12. MISCELLANEOUS

         12.1 GOVERNING LAW. This Agreement shall be governed by, and construed
and enforced in accordance with, the laws of the Commonwealth of Massachusetts.
The parties hereto agree that jurisdiction shall be proper in the courts of the
Commonwealth of Massachusetts and consent to jurisdiction and venue therein.

<PAGE>

         12.2 ASSIGNMENT. This Agreement shall not be assignable by any party
without the prior written approval of the other party. Notwithstanding the
foregoing, WWWX may, without the consent of PAR, assign its rights under
Sections 10 and 11 hereof to any WWWX Successor as provided therein, it being
the intent of the parties that my such WWWX Successor shall be a third party
beneficiary of such rights. To the extent assignable, this Agreement shall be
binding upon, and inure to the benefit of, WWWX PAR, and their respective heirs,
personal representatives, successors and assigns.

         12.3 HEADINGS FOR REFERENCE ONLY. The section and paragraph headings in
this Agreement are for convenience of reference only and shall not be deemed to
modify or limit the provisions of this Agreement.

         12.4 NOTICES. All notices and other communications under this Agreement
shall be in and shall be deemed given when delivered by confirmed fax,
personally, or by recognized overnight courier, or four days after being mailed
by registered mail, return receipt requested, to a party at the following
address (or to such other address as such party may have specified by notice
given to the other party pursuant to this provision):

          If to WWWX:    World Wide Web NetworX Corporation
                         3000 Atrium Way, Suite 202
                         Mt. Laurel, NJ 09054
                         Attention Robert D. Kohn
                         Fax no: (609) 273-6913

          If to PAR:     Positive Asset Remaketing, Inc.
                         Post Office Box 415
                         Sharon, MA 02067
                         Attention: Benjamin R. Kafka
                         Fax no. (508) 660-7755

         12.5 ENTIRE AGREEMENT AND AMENDMENT. This document and the Exhibits and
Schedules hereto contain the entire agreement between the parties hereto with
respect to the transactions contemplated hereby and supersede all prior or
contemporaneous agreements, understandings, representations and warranties
between the parties and may not be amended except by written instrument executed
by the parties hereto.

         12.6 COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

               IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement as of the date first above written.

ATTEST:                           WORLD WIDE WEB NETWORX CORPORATION

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

ATTEST:                           POSITIVE ASSET REMARKETING, INC.

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

<PAGE>

LIST OF EXHIBITS AND SCHEDULES

EXHIBIT A      ATM Center Business Documents

SCHEDULE 1     Intangible Assets

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