Document:

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                          REGISTRATION RIGHTS AGREEMENT

                          Dated as of February 15, 2000

                                      Among

                           AMERICAN TOWER CORPORATION

                                    as Issuer

                                       and

                     CREDIT SUISSE FIRST BOSTON CORPORATION
                          DEUTSCHE BANK SECURITIES INC.
                              LEHMAN BROTHERS INC.
                         BANC OF AMERICA SECURITIES LLC
                            BEAR, STEARNS & CO. INC.
                            SALOMON SMITH BARNEY INC.
                          FIRST UNION SECURITIES, INC.
                              GOLDMAN, SACHS & CO.
                      LEGG MASON WOOD WALKER, INCORPORATED
               MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
                        MORGAN STANLEY & CO. INCORPORATED
                        RAYMOND JAMES & ASSOCIATES, INC.

                              as Initial Purchasers

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<PAGE>

<TABLE>
<CAPTION>
                                             TABLE OF CONTENTS

                                                                                                      Page

<S>                                                                                                    <C>
1.       Definitions.....................................................................................1

2.       Shelf Registration..............................................................................5

3.       Additional Interest.............................................................................7

4.       Registration Procedures........................................................................10

5.       Registration Expenses..........................................................................20

6.       Indemnification................................................................................22

7.       Rules 144 and 144A.............................................................................26

8.       Underwritten Registrations.....................................................................27

9.       Representations and Warranties.................................................................27

10.      Miscellaneous..................................................................................29
         (a)      No Inconsistent Agreements............................................................29
         (b)      Adjustments Affecting Registrable
                  Securities............................................................................29
         (c)      Amendments and Waivers................................................................30
         (d)      Notices...............................................................................30
         (e)      Successors and Assigns................................................................32
         (f)      Counterparts..........................................................................32
         (g)      Headings..............................................................................32
         (h)      Governing Law.........................................................................32
         (i)      Severability..........................................................................33
         (j)      Securities Held by the Company
                  or Its Affiliates.....................................................................33
         (k)      Third Party Beneficiaries.............................................................33
         (l)      Entire Agreement......................................................................33
</TABLE>

                                                   -i-

<PAGE>

                          REGISTRATION RIGHTS AGREEMENT

         This  Registration  Rights  Agreement (the  "Agreement") is dated as of
February 15, 2000, among American Tower Corporation, a Delaware corporation (the
"Company"), and Credit Suisse First Boston Corporation, Deutsche Bank Securities
Inc., Lehman Brothers Inc., Banc of America  Securities LLC, Bear, Stearns & Co.
Inc., Salomon Smith Barney Inc., First Union Securities,  Inc., Goldman, Sachs &
Co., Legg Mason Wood Walker, Incorporated, Merrill Lynch, Pierce, Fenner & Smith
Incorporated,  Morgan Stanley & Co. Incorporated and Raymond James & Associates,
Inc. (individually, an "Initial Purchaser"; together, the "Initial Purchasers").

         This  Agreement  is  entered  into  in  connection  with  the  Purchase
Agreement,  dated  February  9,  2000,  between  the  Company  and  the  Initial
Purchasers (the "Purchase Agreement"),  which provides for the issuance and sale
by the Company to the Initial Purchasers of the Company's 5.0% Convertible Notes
Due 2010 (the "Convertible Notes"). In order to induce the Initial Purchasers to
enter into the  Purchase  Agreement,  the  Company  has  agreed to  provide  the
registration  rights set forth in this  Agreement for the benefit of the Initial
Purchasers and their direct and indirect  transferees and assigns. The execution
and  delivery  of this  Agreement  is a  condition  to the  Initial  Purchasers'
obligation to purchase the Convertible Notes under the Purchase Agreement.

         The parties hereby agree as follows:

         1.       Definitions.

         As used in this Agreement, the following terms shall have the following
meanings:

         Additional Interest:  See Section 3(a) hereof.

         Advice:  See Section 4 hereof.

<PAGE>

         Agreement: See the first introductory paragraph hereto.

         Amount of Registrable Securities: (a) With respect to Convertible Notes
constituting Registrable Securities,  their aggregate principal amount, (b) with
respect to Underlying Shares constituting Registrable Securities,  the aggregate
number of such Underlying  Shares multiplied by the Conversion Price (as defined
in the Indenture  relating to the Convertible Notes upon the conversion of which
such  Underlying  Shares  were  issued) in effect at the time of  computing  the
Amount  of  Registrable  Securities  or, if no such  Convertible  Notes are then
outstanding,  the last Conversion  Price that was in effect under such Indenture
when any such Convertible Notes were last  outstanding,  and (c) with respect to
combinations  thereof,  the  sum of  (a)and  (b) for  the  relevant  Registrable
Securities.

         Certificate Shares:  See Section 9 hereof.

         Closing Date: A Closing Date as defined in the Purchase Agreement.

         Company:  See the first introductory paragraph hereto.

         Convertible Notes: See the second introductory paragraph hereto.

         Damages Payment Date:  See Section 3(c) hereof.

         Depositary: The Depository Trust Company until a successor is appointed
by the Company.

         Effectiveness Date: The 150th day after the Issue Date.

         Effectiveness Period:  See Section 2 hereof.

         Exchange Act: The Securities Exchange Act of 1934, as amended,  and the
rules and regulations of the SEC promul gated thereunder.

                                       -2-

<PAGE>

         Filing Date: The 90th day after the Issue Date.

         Global Certificate: See Section 9 hereof.

         Holder: Any holder of Registrable Securities.

         Indemnified Person: See Section 6(c) hereof.

         Indemnifying Person:  See Section 6(c) hereof.

         Indenture:  The Indenture,  dated as of February 15, 2000,  between the
Company and The Bank of New York, as Trustee,  pursuant to which the Convertible
Notes are issued, as amended or supplemented from time to time.

         Initial Purchaser: See the first introductory paragraph hereto.

         Initial Purchasers: See the first introductory paragraph hereto.

         Initial Shelf Registration:  See Section 2(a) hereof.

         Inspectors: See Section 4(n) hereof.

         Issue Date: The latest Closing Date on which the Convertible Notes were
issued and sold to the Initial Purchasers pursuant to the Purchase Agreement.

         NASD:  See Section 4(q) hereof.

         Participant:  See Section 6(a) hereof.

         Person:  An individual,  partnership,  corporation,  limited  liability
company,  unincorporated association,  trust or joint venture, or a governmental
agency or political subdivision thereof.

         Prospectus:  The  prospectus  included in any Registra  tion  Statement
(including,  without  limitation,  any  prospectus  subject to completion  and a
prospectus that includes any information previously omitted from a

                                       -3-

<PAGE>

prospectus filed as part of an effective registration statement in reliance upon
Rule 430A  promulgated  under the Securities Act), as amended or supplemented by
any  prospectus  supplement,  and all other  amendments  and  supplements to the
Prospectus,  including post-effective  amendments, and all material incorporated
by reference or deemed to be incorporated by reference in such Prospectus.

         Purchase Agreement: See the second introductory paragraph hereto.

         Records:  See Section 4(n) hereof.

         Registrable Securities: All Convertible Notes and all Underlying Shares
upon original  issuance  thereof and at all times  subsequent  thereto until the
earliest to occur of (i) a  Registration  Statement  covering  such  Convertible
Notes and  Underlying  Shares has been  declared  effective  by the SEC and such
Convertible Notes and Underlying Shares have been disposed of in accordance with
such  effective  Registration   Statement,   (ii)  such  Convertible  Notes  and
Underlying  Shares are sold in  compliance  with Rule 144 or could  (except with
respect to affiliates of the Company within the meaning of the  Securities  Act)
be sold in  compliance  with  paragraph  (k) of such  Rule  144,  or (iii)  such
Convertible Notes and any Underlying Shares cease to be outstanding.

         Registration Default:  See Section 3(a) hereof.

         Registration Statement: Any registration statement of the Company filed
with  the SEC  pursuant  to the  provisions  of this  Agreement,  including  the
Prospectus, amendments and supplements to such registration statement, including
post-  effective  amendments,  all exhibits and all  material  incorpo  rated by
reference  or  deemed  to be  incorporated  by  reference  in such  registration
statement.

         Rule 144: Rule 144  promulgated  under the Securities Act, as such Rule
may be amended from time to time,  or any similar rule (other than Rule 144A) or
regulation  hereafter  adopted  by the SEC  providing  for  offers  and sales of
securities made in compliance therewith resulting in offers

                                       -4-

<PAGE>

and sales by  subsequent  holders that are not  affiliates  of an issuer of such
securities being free of the registration and prospectus  delivery  requirements
of the Securities Act.

         Rule 144A: Rule 144A promulgated under the Securities Act, as such Rule
may be amended  from time to time,  or any similar rule (other than Rule 144) or
regulation hereafter adopted by the SEC.

         Rule 415: Rule 415  promulgated  under the Securities Act, as such Rule
may be amended from time to time,  or any similar rule or  regulation  hereafter
adopted by the SEC.

         SEC:  The Securities and Exchange Commission.

         Securities  Act: The Securities Act of 1933, as amended,  and the rules
and regulations of the SEC promulgated thereunder.

         Shelf Registration:  See Section 2(b) hereof.

         Subsequent Shelf Registration: See Section 2(b) hereof.

         TIA: The Trust  Indenture  Act of 1939,  as amended,  and the rules and
regulations of the SEC promulgated thereunder.

         Trustee:  The Trustee under the Indenture.

         Underlying  Shares:  The shares of the Company's  Class A Common Stock,
par value $.01 per share, issuable upon conversion of the Convertible Notes.

         Underwritten  registration or underwritten  offering: A registration in
which securities of the Company are sold to an underwriter for reoffering to the
public.

                                       -5-

<PAGE>

         2.       Shelf Registration

                           (a)      Shelf  Registration.  The  Company  shall as
                                    promptly as reasonably practicable file with
                                    the  SEC a  Registration  Statement  for  an
                                    offering  to be made on a  continuous  basis
                                    pursuant  to Rule  415  covering  all of the
                                    Registrable  Securities  (the "Initial Shelf
                                    Registration").  The  Company  shall use its
                                    reasonable best efforts to file with the SEC
                                    the Initial Shelf  Registration  on or prior
                                    to  the  Filing  Date.   The  Initial  Shelf
                                    Registration shall be on Form S-3 or another
                                    appropriate form permitting  registration of
                                    such  Registrable  Securities  for resale by
                                    Holders in the manner or manners  designated
                                    by them (including,  without limitation, one
                                    or more underwritten offerings). The Company
                                    shall not permit any  securities  other than
                                    the Registrable Securities to be included in
                                    the  Initial  Shelf   Registration   or  any
                                    Subsequent  Shelf  Registration  (as defined
                                    below). By its execution hereof on behalf of
                                    itself  and the  other  Initial  Purchasers,
                                    Credit Suisse First Boston  Corporation also
                                    hereby  waives on its own  behalf  its right
                                    under  the  Registration  Rights  Agreement,
                                    dated February 4, 1999,  between the Company
                                    and  it,  to  include  any  securities  in a
                                    Registration  Statement  filed  pursuant  to
                                    this Agreement.

                                       -6-

<PAGE>

         The Company shall use its reasonable  best efforts to cause the Initial
Shelf Registration to be declared effective under the Securities Act on or prior
to  the  Effectiveness   Date  and  to  keep  the  Initial  Shelf   Registration
continuously effective under the Securities Act until the date that is 24 months
from the Issue  Date (as it may be  shortened  pursuant  to clause (i) or clause
(ii) immediately following,  the "Effectiveness Period"), or such shorter period
ending when (A) all the shares of Registrable  Securities covered by the Initial
Shelf Registration have been sold in the manner set forth and as contemplated in
the  Initial  Shelf  Registration,  (B) the  date on which  all the  Registrable
Securities  (x) held by persons  who are not  affiliates  of the  Company may be
resold  pursuant  to Rule  144(k)  under the  Securities  Act or (y) cease to be
outstanding,  or  (C) a  Subsequent  Shelf  Registration  covering  all  of  the
Registrable Securities has been declared effective under the Securities Act.

                           (b)      Subsequent  Shelf   Registrations.   If  the
                                    Initial Shelf Registration or any Subsequent
                                    Shelf  Registration  ceases to be  effective
                                    for  any  reason  at  any  time  during  the
                                    Effectiveness  Period (other than because of
                                    the sale of all of the securities registered
                                    thereunder),   the  Company  shall  use  its
                                    reasonable best efforts to obtain the prompt
                                    withdrawal  of  any  order   suspending  the
                                    effectiveness  thereof,  and  in  any  event
                                    shall  within 45 days of such  cessation  of
                                    effectiveness   amend  the   Initial   Shelf
                                    Registration  in  a  manner  to  obtain  the
                                    withdrawal  of  the  order   suspending  the
                                    effectiveness thereof, or file an additional
                                    "shelf"  Registration  Statement pursuant to
                                    Rule  415  covering  all of the  Registrable
                                    Securities     (a

                                      -7-
<PAGE>

                                    "Subsequent  Shelf   Registration").   If  a
                                    Subsequent Shelf  Registration is filed, the
                                    Company  shall  use  its   reasonable   best
                                    efforts  to  cause  the   Subsequent   Shelf
                                    Registration to be declared  effective under
                                    the  Securities  Act as soon as  practicable
                                    after   such   filing   and  to  keep   such
                                    Registration      Statement     continuously
                                    effective   for   the   remainder   of   the
                                    Effectiveness  Period.  As used  herein  the
                                    term "Shelf  Registration" means the Initial
                                    Shelf  Registration and any Subsequent Shelf
                                    Registration.

                           (c)      Supplements  and  Amendments.   The  Company
                                    shall  promptly  supplement  and  amend  the
                                    Shelf Registration if required by the rules,
                                    regulations  or  instructions  applicable to
                                    the  registration  form used for such  Shelf
                                    Registration,  if required by the Securities
                                    Act,  or  if  reasonably  requested  by  the
                                    Holders  of a  majority  of  the  Amount  of
                                    Registrable   Securities   covered  by  such
                                    Registration Statement or by any underwriter
                                    of such Registrable Securities.

         3.       Additional Interest

                           (a)      The Company and the Initial Purchasers agree
                                    that the Holders of  Convertible  Notes will
                                    suffer  damages  if  the  Company  fails  to
                                    fulfill  its  obligations  under  Section  2
                                    hereof and that it would not be  feasible to
                                    ascertain  the extent of such  damages  with
                                    precision.  Accordingly,  the

                                      -8-
<PAGE>

                                    Company   agrees  to  pay,   as   liquidated
                                    damages,    additional   interest   on   the
                                    Registrable     Securities      ("Additional
                                    Interest")   as   follows   if  any  of  the
                                    following  events  occur (each such event in
                                    clauses   (i)   through   (iii)   below,   a
                                    "Registration Default"):

         (i)      If  on  or  prior  to  the  Filing  Date,  the  Initial  Shelf
                  Registration has not been filed with the SEC;

         (ii)     If on or prior to the  Effectiveness  Date,  the Initial Shelf
                  Registration has not been declared effective by the SEC; or

         (iii)    If after the Initial Shelf  Registration is declared effective
                  (A) the Initial  Shelf  Registration  thereafter  ceases to be
                  effective  and a Subsequent  Shelf  Registration  covering the
                  Registrable Securities has not become effective or (B) a Shelf
                  Registration  or the  related  prospectus  ceases to be usable
                  (except as permitted  in Section  3(b)  hereof) in  connection
                  with  resales of  Registrable  Securities  during the  periods
                  specified  herein  because  either  (1) any event  occurs as a
                  result of which the related  prospectus  forming  part of such
                  Shelf  Registration  would  include any untrue  statement of a
                  material fact or omit to state any material fact  necessary to
                  make the statements  therein in the light of the circumstances
                  under which they were made not misleading,  or (2) it shall be
                  necessary to amend such Shelf  Registration  or supplement the
                  related  prospectus,  to comply with the Securities Act or the
                  Exchange Act or the respective rules thereunder.

                  Additional  Interest shall accrue on  outstanding  Convertible
Notes constituting  Registrable Securities over and above the interest set forth
in the title of the

                                      -9-
<PAGE>

Convertible Notes and shall accrue on outstanding Underlying Shares constituting
Registrable  Securities,  in each case from and  including the date on which any
such  Registration  Default  shall occur to but  excluding the date on which all
such Registration  Defaults have been cured, at a rate of 0.50% per annum of the
Amount of such  Registrable  Securities.  The Company  shall  notify the Trustee
within  one  business  day  after  each and every  date on which a  Registration
Default occurs.

                           (b)      A  Registration   Default   referred  to  in
                                    Section  3(a)(iii)(B) hereof shall be deemed
                                    not to have  occurred and be  continuing  in
                                    relation  to the Shelf  Registration  or the
                                    related  prospectus if (i) such Registration
                                    Default has  occurred  solely as a result of
                                    (x) the filing of a post-effective amendment
                                    to such Shelf  Registration  to  incorporate
                                    annual audited  financial  information  with
                                    respect  to the  Company  where  such  post-
                                    effective amendment is not yet effective and
                                    needs to be  declared  effective  to  permit
                                    Holders to use the related prospectus or (y)
                                    other  material  events with  respect to the
                                    Company  that would need to be  described in
                                    such  Shelf   Registration  or  the  related
                                    prospectus  and (ii) in the  case of  clause
                                    (y), the Company is proceeding  promptly and
                                    in good  faith to amend or  supplement  such
                                    Shelf Registration and related prospectus to
                                    describe  such  events;  provided,  however,
                                    that  in  any  case  if  such   Registration
                                    Default  occurs for a  continuous  period in
                                    excess of 30 days, Additional Interest shall
                                    be payable in  accordance  with

                                      -10-
<PAGE>

                                    Section   3(a)  hereof  from  the  day  such
                                    Registration   Default   occurs  until  such
                                    Registration Default is cured.

                           (c)      Any  amount  of   Additional   Interest  due
                                    pursuant  to  clause  (i),  (ii) or (iii) of
                                    Section  3(a) hereof will be payable in cash
                                    on  each   February  15  and  August  15  (a
                                    "Damages  Payment  Date")  to the  Holder to
                                    whom  regular  interest  is  payable on such
                                    Damages   Payment   Date  with   respect  to
                                    Convertible   Notes  that  are   Registrable
                                    Securities  and  to  the  Person  that  is a
                                    registered  Holder  15  days  prior  to such
                                    Damages   Payment   Date  with   respect  to
                                    Underlying   Shares  that  are   Registrable
                                    Securities.   The   amount   of   Additional
                                    Interest for Registrable  Securities will be
                                    determined  by  multiplying  the  applicable
                                    Additional  Interest  rate by the  Amount of
                                    such  Registrable  Securities on the Damages
                                    Payment  Date  following  such  Registration
                                    Default  in  the  case  of  the  first  such
                                    payment of Additional  Interest with respect
                                    to a Registration Default (and thereafter at
                                    the next  succeeding  Damages  Payment  Date
                                    until   the   cure  of   such   Registration
                                    Default),  multiplied  by  a  fraction,  the
                                    numerator  of  which is the  number  of days
                                    such Additional Interest rate was applicable
                                    during such period  (determined on the basis
                                    of a 360-day year comprised of twelve 30-day
                                    months),  and the  denominator  of  which is
                                    360.

                                      -11-
<PAGE>

         4.       Registration Procedures

         In connection with the filing of any Registration Statement pursuant to
Section 2 hereof, the Company shall effect such registrations to permit the sale
of the  securities  covered  thereby in accordance  with the intended  method or
methods of disposition  thereof, and pursuant thereto and in connection with any
Registration Statement filed by the Company hereunder the Company shall:

                           (a)      Prepare  and file  with the SEC prior to the
                                    Filing  Date,  a  Registration  Statement or
                                    Registration  Statements  as  prescribed  by
                                    Section  2  hereof,  and use its  reasonable
                                    best efforts to cause each such Registration
                                    Statement  to become  effective  and  remain
                                    effective  as  provided  herein;   provided,
                                    however,  that the Company  shall furnish to
                                    and  afford the  Holders of the  Registrable
                                    Securities   covered  by  such  Registration
                                    Statement,  their  counsel and the  managing
                                    underwriters,    if   any,   a    reasonable
                                    opportunity  to  review  copies  of all such
                                    documents (including copies of any documents
                                    to be incorporated by reference  therein and
                                    all exhibits  thereto)  proposed to be filed
                                    (in each case where  possible  at least five
                                    business days prior to such filing and where
                                    not possible as promptly as  possible).  The
                                    Company  shall  not  file  any  Registration
                                    Statement  or Pro spectus or any  amendments
                                    or  supplements  thereto if the Holders of a
                                    majority   in  Amount  of  the   Registrable
                                    Securities   covered  by  such

                                      -12-
<PAGE>

                                    Registration  Statement,  their counsel,  or
                                    the  managing  underwriters,  if any,  shall
                                    reasonably object.

                           (b)      Prepare   and   file   with   the  SEC  such
                                    amendments and post-effective  amendments to
                                    each Shelf Registration, as may be necessary
                                    to   keep   such   Registration    Statement
                                    continuously effective for the Effectiveness
                                    Period;  cause the related  Prospectus to be
                                    supplemented  by any  Prospectus  supplement
                                    required  by  applicable   law,  and  as  so
                                    supplemented  to be filed  pursuant  to Rule
                                    424  (or  any  similar  provisions  then  in
                                    force) promulgated under the Securities Act;
                                    and comply with the  provisions  of the Secu
                                    rities Act and the Exchange  Act  applicable
                                    to it with respect to the disposition of all
                                    securities   covered  by  such  Registration
                                    Statement   as  so   amended   or  in   such
                                    Prospectus as so  supplemented.  The Company
                                    shall  be  deemed   not  to  have  used  its
                                    reasonable    best   efforts   to   keep   a
                                    Registration  Statement effective during the
                                    Effectiveness Period if it voluntarily takes
                                    any  action  that  would  result in  selling
                                    Holders   of  the   Registrable   Securities
                                    covered  thereby not being able to sell such
                                    Registrable  Securities  during  that period
                                    unless such action is required by applicable
                                    law or unless the Company complies with this
                                    Agreement,  including without limitation the
                                    provisions  of

                                      -13-
<PAGE>

                                    Section  4(k) hereof and the last  paragraph
                                    of Section 4(t) hereof.

                           (c)      Notify  the  selling  Holders  of  shares of
                                    Registrable  Securities,  their  counsel and
                                    the managing underwriters,  if any, promptly
                                    (but in any event within two business days),
                                    and confirm such notice in writing, (i) when
                                    a Prospectus or any prospectus supplement or
                                    post-effective  amendment  has  been  filed,
                                    and,   with  respect  to  a  Reg   istration
                                    Statement or any  post-effective  amendment,
                                    when the same has become effective under the
                                    Securities  Act  (including in such notice a
                                    written  statement that any Holder may, upon
                                    request,  obtain, at the sole expense of the
                                    Company,   one   conformed   copy   of  such
                                    Registration   Statement  or  post-effective
                                    amendment including financial statements and
                                    schedules,  documents incorporated or deemed
                                    to  be   incorporated   by   reference   and
                                    exhibits),  (ii) (A) of the  receipt  of any
                                    written  comments  by the SEC or its  staff,
                                    (B) of the  request  by the SEC or its staff
                                    for   amendments   or   supplements   to   a
                                    Registration  Statement or a Prospectus,  or
                                    (C) of the  issuance  by the SEC of any stop
                                    order  suspending  the  effectiveness  of  a
                                    Registration   Statement  or  of  any  order
                                    preventing  or  suspending  the  use  of any
                                    preliminary  prospectus or the initiation of
                                    any proceedings  for that purpose,  (iii) if
                                    at any time when a prospectus is required by
                                    the   Securities  Act  to  be  delivered

                                      -14-
<PAGE>

                                    in connection  with sales of the Registrable
                                    Securities    the     representations    and
                                    warranties  of the Company  contained in any
                                    agreement    (including   any   underwriting
                                    agreement),  contemplated  by  Section  4(m)
                                    hereof  cease to be true and  correct in all
                                    material respects,  (iv) of the happening of
                                    any event, the existence of any condition or
                                    any  information  becoming  known that makes
                                    any  statement  made  in  such  Registration
                                    Statement  or  related   Prospectus  or  any
                                    document   incorporated   or  deemed  to  be
                                    incorporated  therein by reference untrue in
                                    any  material  respect or that  requires the
                                    making of any  changes in or  amendments  or
                                    supplements to such Registration  Statement,
                                    Prospectus or documents so that, in the case
                                    of the Registration  Statement,  it will not
                                    contain any untrue  statement  of a material
                                    fact or  omit to  state  any  material  fact
                                    required to be stated  therein or  necessary
                                    to   make   the   statements   therein   not
                                    misleading,  and  that  in the  case  of the
                                    Prospectus,  it will not  contain any untrue
                                    statement  of a  material  fact  or  omit to
                                    state  any  material  fact  required  to  be
                                    stated  therein  or  necessary  to make  the
                                    statements  therein,  in  the  light  of the
                                    circumstances  under  which  they were made,
                                    not  misleading  and  (v) of  the  Company's
                                    determination    that    a    post-effective
                                    amendment to a Registration  Statement would
                                    be appropriate.

                                      -15-
<PAGE>

                           (d)      Use its  reasonable  best efforts to prevent
                                    the  issuance  of any order  suspending  the
                                    effectiveness of a Registration Statement or
                                    of any order  preventing or  suspending  the
                                    use of a  Prospectus  and, if any such order
                                    is  issued,   to  use  its  reasonable  best
                                    efforts to obtain the withdrawal of any such
                                    order at the earliest possible moment.

                           (e)      If requested by the managing  underwriter or
                                    underwriters  (if any),  or the Holders of a
                                    majority   in  Amount  of  the   Registrable
                                    Securities  being sold in connection with an
                                    underwritten    offering,    (i)    promptly
                                    incorporate  in a prospectus  supplement  or
                                    post-effective amendment such information as
                                    the managing underwriter or underwriters (if
                                    any),  such  Holders or  counsel  for any of
                                    them determine is reasonably necessary to be
                                    included  therein,  (ii)  make all  required
                                    filings  of such  prospectus  supplement  or
                                    such  post-effective  amendment  as  soon as
                                    reasonably practicable after the Company has
                                    received  notification  of the matters to be
                                    incorporated in such  prospectus  supplement
                                    or   post-effective   amendment   and  (iii)
                                    supplement   or  make   amendments  to  such
                                    Registration Statement.

                           (f)      Furnish   to   each   selling    Holder   of
                                    Registrable  Securities  and to counsel  and
                                    each  managing  underwriter,  if any, at the
                                    sole

                                      -16-
<PAGE>

                                    expense of the Company,  one conformed  copy
                                    of    the    Registration    Statement    or
                                    Registration     Statements     and     each
                                    post-effective amendment thereto,  including
                                    financial statements and schedules,  and, if
                                    requested,  all  documents  incorporated  or
                                    deemed  to  be   incorporated   therein   by
                                    reference and all exhibits.

                           (g)      Deliver   to   each   selling    Holder   of
                                    Registrable  Securities,   their  respective
                                    counsel,  and the  underwriters,  if any, at
                                    the sole  expense  of the  Company,  as many
                                    copies  of the  Prospectus  (including  each
                                    form of  preliminary  prospectus)  and  each
                                    amendment  or  supplement  thereto  and  any
                                    documents  incorporated by reference therein
                                    as such Persons may reasonably request; and,
                                    subject to the second  paragraph  of Section
                                    4(t) hereof,  the Company hereby consents to
                                    the  use  of  such   Prospectus   and   each
                                    amendment or  supplement  thereto by each of
                                    the   selling    Holders   of    Registrable
                                    Securities and the  underwriters  or agents,
                                    if any, and dealers (if any),  in connection
                                    with   the   offering   and   sale   of  the
                                    Registrable   Securities   covered  by  such
                                    Prospectus  and any  amendment or supplement
                                    thereto.

                           (h)      Prior to any public  offering of Registrable
                                    Securities,   to  use  its  reasonable  best
                                    efforts  to  register  or  qualify,  to  the
                                    extent  required by  applicable  law, and to

                                      -17-
<PAGE>

                                    cooperate   with  the  selling   Holders  of
                                    Registrable    Securities,    the   managing
                                    underwriter  or  underwriters,  if any,  and
                                    their respective  counsel in connection with
                                    the   registration  or   qualification   (or
                                    exemption   from   such    registration   or
                                    qualification)     of    such    Registrable
                                    Securities  or  offer  and  sale  under  the
                                    securities   or  Blue   Sky   laws  of  such
                                    jurisdictions  within the  United  States as
                                    any   selling   Holder,   or  the   managing
                                    underwriter   or   underwriters   reasonably
                                    request;   provided,   however,  that  where
                                    Registrable  Securities  are  offered  other
                                    than through an underwritten  offering,  the
                                    Company   agrees  to  cause  the   Company's
                                    counsel to perform  Blue Sky  investigations
                                    and file  registrations  and  qualifications
                                    required  to  be  filed   pursuant  to  this
                                    Section 4(h); keep each such registration or
                                    qualification   (or   exemption   therefrom)
                                    effective    during    the    period    such
                                    Registration  Statement  is  required  to be
                                    kept effective and do any and all other acts
                                    or things reasonably  necessary or advisable
                                    to   enable   the    disposition   in   such
                                    jurisdictions of the Registrable  Securities
                                    covered  by  the   applicable   Registration
                                    Statement;   provided,   however,  that  the
                                    Company  shall not be required to qualify as
                                    a  foreign   corporation  or  to  execute  a
                                    general consent to service of process in any
                                    jurisdiction  or subject  itself to

                                      -18-
<PAGE>

                                    taxation generally in any jurisdiction.

                           (i)      Cooperate   with  the  selling   Holders  of
                                    Registrable   Securities  and  the  managing
                                    underwriter  or  underwriters,  if  any,  to
                                    facilitate   the  timely   preparation   and
                                    delivery of certificates representing shares
                                    of Registrable  Securities to be sold, which
                                    certificates  shall not bear any restrictive
                                    legends and shall be in a form  eligible for
                                    deposit with The  Depository  Trust Company;
                                    and  enable  such   shares  of   Registrable
                                    Securities to be in such  denominations  and
                                    registered  in such  names  as the  managing
                                    underwriter  or  underwriters,  if  any,  or
                                    Holders may reasonably request.

                           (j)      Use its reasonable best efforts to cause the
                                    Registrable  Securities covered by the Shelf
                                    Registration Statement to be registered with
                                    or  approved  by  such  other   governmental
                                    agencies or  authorities as may be necessary
                                    to enable the  seller or sellers  thereof or
                                    the underwriter or underwriters,  if any, to
                                    consummate    the    disposition   of   such
                                    Registrable  Securities,  except  as  may be
                                    required  solely  as a  consequence  of  the
                                    nature of such selling Holder's business, in
                                    which case the Company will cooperate in all
                                    reasonable  respects with the filing of such
                                    Registration  Statement  and the granting of
                                    such approvals.

                                      -19-
<PAGE>

                           (k)      Upon   the    occurrence    of   any   event
                                    contemplated   by   paragraph   4(c)(ii)(C),
                                    4(c)(iv) or 4(c)(v)  hereof,  as promptly as
                                    practicable  prepare and (subject to Section
                                    4(a)  hereof) file with the SEC, at the sole
                                    expense  of the  Company,  a  supplement  or
                                    post-effective amendment to the Registration
                                    Statement  or a  supplement  to the  related
                                    Prospectus or any document  incorporated  or
                                    deemed  to  be   incorporated   therein   by
                                    reference,   or  file  any  other   required
                                    document so that, as thereafter delivered to
                                    the purchasers of the Registrable Securities
                                    being sold  thereunder,  any such Prospectus
                                    will not  contain 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
                                    the light of the  circumstances  under which
                                    they were made,  not  misleading;  provided,
                                    however,   that  the   Company   may   delay
                                    preparing,  filing and distributing any such
                                    supplement  or amendment  (and  continue the
                                    suspension of the use of the  Prospectus) if
                                    the  Company  determines  in good faith that
                                    such  supplement or amendment  would, in the
                                    reasonable  judgment  of  the  Company,  (i)
                                    interfere with or affect the  negotiation or
                                    completion  of a  transaction  that is being
                                    contemplated by the Company  (whether or not
                                    a final  decision has been made to undertake
                                    such transaction) or (ii) involve initial or
                                    continuing  disclosure

                                      -20-
<PAGE>

                                    obligations   that   are  not  in  the  best
                                    interests of the Company's  shareholders  at
                                    such time; provided,  further,  that neither
                                    such delay nor such  suspension with respect
                                    to all  matters  in clause (i) or (ii) shall
                                    extend  for a period of more than 30 days in
                                    any three-month  period or more than 90 days
                                    for all  such  periods  in any  twelve-month
                                    period and shall not  affect  the  Company's
                                    obligation  to pay  Additional  Interest  as
                                    contemplated in Section 3.

                           (l)      Prior  to the  effective  date of the  first
                                    Regis  tration  Statement  relating  to  the
                                    Registrable  Securities,   (i)  provide  the
                                    Trustee  with  certificates  for  the  Regis
                                    trable  Securities  in a form  eligible  for
                                    deposit with The  Depository  Trust  Company
                                    and  (ii)  provide  a CUSIP  number  for the
                                    Registrable Securities.

                           (m)      In connection with any underwritten offering
                                    of  Registrable  Securities  pursuant  to  a
                                    Shelf    Registration,    enter    into   an
                                    underwriting  agreement  as is  customary in
                                    underwritten offerings of securities similar
                                    to the  Registrable  Securities and take all
                                    such  other   actions   as  are   reasonably
                                    requested  by the  managing  underwriter  or
                                    underwriters;   in  order  to   expedite  or
                                    facilitate   the    registration    or   the
                                    disposition of such  Registrable  Securities
                                    and,  in  such  connection,  (i)  make  such
                                    representations   and

                                      -21-
<PAGE>

                                    warranties  to,  and  covenants   with,  the
                                    underwriters with respect to the business of
                                    the Company and its subsidiaries  (including
                                    any acquired business, properties or entity,
                                    if   applicable)   and   the    Registration
                                    Statement, Prospectus and documents, if any,
                                    incorporated or deemed to be incorporated by
                                    reference  therein,  in  each  case,  as are
                                    customarily  made by issuers to underwriters
                                    in  underwritten   offerings  of  securities
                                    similar to the  Registrable  Securities  and
                                    confirm  the  same in  writing  if and  when
                                    requested;  (ii) obtain the written  opinion
                                    of  counsel  to  the   Company  and  written
                                    updates thereof in form, scope and substance
                                    reasonably   satisfactory  to  the  managing
                                    underwriter  or  underwriters,  addressed to
                                    the   underwriters   covering   the  matters
                                    customarily covered in opinions requested in
                                    underwritten offerings of securities similar
                                    to the Registrable Securities and such other
                                    matters as may be  reasonably  requested  by
                                    the managing  underwriter  or  underwriters;
                                    (iii)  obtain  "cold  comfort"  letters  and
                                    updates thereof in form, scope and substance
                                    reasonably   satisfactory  to  the  managing
                                    underwriter   or   underwriters   from   the
                                    independent  certified public accountants of
                                    the Company (and,  if  necessary,  any other
                                    independent  certified public accountants of
                                    any  subsidiary  of  the  Company  or of any
                                    business  acquired  by the Company for which
                                    financial statements and financial

                                      -22-
<PAGE>

                                    data are, or are required to be, included or
                                    incorporated    by    reference    in    the
                                    Registration  Statement),  addressed to each
                                    of the  underwriters,  such letters to be in
                                    customary  form and covering  matters of the
                                    type  customarily  covered in "cold comfort"
                                    letters  in con  nection  with  underwritten
                                    offerings  of  securities   similar  to  the
                                    Registrable   Securities   and  such   other
                                    matters  as  reasonably   requested  by  the
                                    managing  underwriter or  underwriters;  and
                                    (iv) if an underwriting agreement is entered
                                    into, the same shall contain indemnification
                                    provisions  and procedures no less favorable
                                    than those set forth in Section 6 hereof (or
                                    such   other   provisions   and   procedures
                                    acceptable  to  Holders  of  a  majority  in
                                    Amount of Registrable  Securities covered by
                                    such Registration Statement and the managing
                                    underwriter or  underwriters or agents) with
                                    respect  to all  parties  to be  indemnified
                                    pursuant to said Section. The above shall be
                                    done at each closing under such underwriting
                                    agreement,  or as and to the extent required
                                    thereunder.

                           (n)      Make available for inspection by any selling
                                    Holder of such Registrable  Securities being
                                    sold, any underwriter  participating  in any
                                    such disposition of Registrable  Securities,
                                    if any,  and  any  attorney,  accountant  or
                                    other  agent  retained  by any such  selling

                                      -23-
<PAGE>

                                    Holder,  or underwriter  (collectively,  the
                                    "Inspectors"), at the offices where normally
                                    kept,  during  reasonable  business hours at
                                    such  time or times  as  shall  be  mutually
                                    convenient   for   the   Company   and   the
                                    Inspectors  as a group,  all  financial  and
                                    other records, pertinent corporate documents
                                    and  instruments  of  the  Company  and  its
                                    subsidiaries  (collectively,  the "Records")
                                    as shall be  reasonably  necessary to enable
                                    them  to   exercise   any   applicable   due
                                    diligence  responsibilities,  and  cause the
                                    officers,  directors  and  employees  of the
                                    Company and its  subsidiaries  to supply all
                                    information reasonably requested by any such
                                    Inspector    in    connection    with   such
                                    Registration  Statement.  Records  that  the
                                    Company  determines,  in good  faith,  to be
                                    confidential   and  any   Records   that  it
                                    notifies  the  Inspectors  are  confidential
                                    shall  not be  disclosed  by  any  Inspector
                                    unless (i) the disclosure of such Records is
                                    necessary  to avoid or  correct  a  material
                                    misstatement  or  material  omission in such
                                    Registration Statement,  (ii) the release of
                                    such  Records  is  ordered   pursuant  to  a
                                    subpoena  or  other  order  from a court  of
                                    competent jurisdiction,  (iii) disclosure of
                                    such  information  is,  in  the  opinion  of
                                    counsel  for  any  Inspector,  necessary  or
                                    advisable  in  connection  with any  action,
                                    claim,   suit   or   proceeding,   directly,
                                    involving  or  potentially   involving

                                      -24-
<PAGE>

                                    such  Inspector  and arising  out of,  based
                                    upon,   relating  to,  or   involving   this
                                    Agreement or any  transactions  contemplated
                                    hereby  or  arising  hereunder  or (iv)  the
                                    information  in such  Records  has been made
                                    generally available to the public other than
                                    through  the  acts of such  Inspector.  Each
                                    selling    Holder   of   such    Registrable
                                    Securities  will be  required  to agree that
                                    information  obtained  by it as a result  of
                                    such    inspections    shall    be    deemed
                                    confidential  and shall not be used by it as
                                    the basis for any market transactions in the
                                    securities  of the Company  unless and until
                                    such  information is generally  available to
                                    the  public.  Each  selling  Holder  of such
                                    Registrable  Securities  will be required to
                                    further  agree that it will,  upon  learning
                                    that disclosure of such Records is sought in
                                    a  court  of  competent  jurisdiction,  give
                                    notice to the  Company and allow the Company
                                    to undertake  appropriate  action to prevent
                                    disclosure    of    the    Records    deemed
                                    confidential at the Company's sole expense.

                           (o)      Provide (i) the  Holders of the  Registrable
                                    Securities    to   be   included   in   such
                                    registration statement and not more than one
                                    counsel   for  all  the   Holders   of  such
                                    Registrable     Securities,     (ii)     the
                                    underwriters  (which  term,  for purposes of
                                    this Registration  Rights  Agreement,  shall
                                    include a person deemed to be an underwriter

                                      -25-
<PAGE>

                                    within the  meaning of Section  2(11) of the
                                    Securities Act), if any, thereof,  (iii) the
                                    sales or placement  agent, if any,  thereof,
                                    and (iv) one counsel  for such  underwriters
                                    or   agents,   reasonable   opportunity   to
                                    participate  in  the   preparation  of  such
                                    registration   statement,   each  prospectus
                                    included  therein or filed with the SEC, and
                                    each amendment or supplement thereto.

                           (p)      Comply   with  all   applicable   rules  and
                                    regulations  of the SEC and  make  generally
                                    available  to  its  securityholders  earning
                                    statements   satisfying  the  provisions  of
                                    Section 11(a) of the Securities Act and Rule
                                    158   thereunder   (or  any   similar   rule
                                    promulgated  under  the  Securities  Act) no
                                    later  than  45  days  after  the end of any
                                    12-month period (or 90 days after the end of
                                    any  12-month  period  if such  period  is a
                                    fiscal  year) (i)  commencing  at the end of
                                    any  fiscal  quarter  in  which  Registrable
                                    Securities  are  sold to  underwriters  in a
                                    firm commitment or best efforts underwritten
                                    offering   and   (ii)   if   not   sold   to
                                    underwriters in such an offering, commencing
                                    on the first day of the first fiscal quarter
                                    of the Company after the effective date of a
                                    Registration  Statement,   which  statements
                                    shall cover said 12-month periods.

                           (q)      Cooperate  with each  seller of  Registrable
                                    Securities   covered  by  any   Registration
                                    Statement  and  each

                                      -26-
<PAGE>

                                    underwriter,  if any,  participating  in the
                                    disposition of such  Registrable  Securities
                                    and their  respective  counsel in connection
                                    with any  filings  required  to be made with
                                    the  National   Association   of  Securities
                                    Dealers, Inc. (the "NASD"), including if the
                                    Rules of Fair  Practice  and the By- Laws of
                                    the  NASD  or  any  successor  thereto,   as
                                    amended   from   time  to  time   (including
                                    Schedule E thereto) so  require,  engaging a
                                    "qualified independent  underwriter" ("QIU")
                                    as  contemplated  therein and making Records
                                    available  to such QIU as  though  it were a
                                    participating  underwriter  for the purposes
                                    of Section 4(n) and  otherwise  applying the
                                    provisions  of this  Agreement  to such  QIU
                                    (including  indemnification)  as  though  it
                                    were a participating underwriter.

                           (r)      Cause the  Indenture to be  qualified  under
                                    the TIA not later than the effective date of
                                    the first Registration Statement relating to
                                    the   Registrable    Securities;    and   in
                                    connection  therewith,  cooperate  with  the
                                    Trustee and the  Holders of the  Registrable
                                    Securities  to effect  such  changes  to the
                                    Indenture   as  may  be  required   for  the
                                    Indenture to be so  qualified in  accordance
                                    with the terms of the TIA; and execute,  and
                                    use its reasonable best efforts to cause the
                                    Trustee to execute,  all documents as may be
                                    required  to effect  such  changes,  and all
                                    other  forms and  documents

                                      -27-
<PAGE>

                                    required  to be filed with the SEC to enable
                                    the Indenture to be so qualified in a timely
                                    manner.

                           (s)      Use its reasonable best efforts to cause the
                                    Registrable    Securities   covered   by   a
                                    Registration Statement, to be rated with the
                                    appropriate rating agencies, if so requested
                                    by the  Holders of a  majority  in Amount of
                                    Registrable   Securities   covered  by  such
                                    Registration   Statement,  or  the  managing
                                    underwriter or underwriters, if any.

                           (t)      Use its reasonable  best efforts to take all
                                    other steps necessary or advisable to effect
                                    the    registration   of   the   Registrable
                                    Securities   covered   by   a   Registration
                                    Statement contemplated hereby.

         The Company may require  each seller of  Registrable  Securities  as to
which  any  registration  is being  effected  to  furnish  to the  Company  such
information  regarding  such  seller and the  distribution  of such  Registrable
Securities  as the Company  may,  from time to time,  reasonably  request to the
extent necessary or advisable to comply with the Securities Act. The Company may
exclude from such  registration  the  Registrable  Securities  of any seller who
unreasonably  fails to furnish such  information  within a reasonable time after
receiving such request.  Each seller as to which any Shelf Registration is being
effected agrees to furnish  promptly to the Company all information  required to
be  disclosed  in order  to make the  information  previously  furnished  to the
Company  by such  seller  not  materially  misleading  or to omit to  state  any
material fact required to be stated  therein or necessary to make the statements
therein not misleading in light of the circumstances under which they were made.

                                      -28-
<PAGE>

         Each Holder of  Registrable  Securities  agrees by  acquisition of such
Registrable  Securities that, upon actual receipt of any notice from the Company
of the  happening  of any event of the kind  described  in Section  4(c)(ii)(C),
4(c)(iv) or 4(c)(v) hereof, such Holder will forthwith  discontinue  disposition
of such  Registrable  Securities  covered  by  such  Registration  Statement  or
Prospectus  until such  Holder's  receipt of the copies of the  supplemented  or
amended  Prospectus  contemplated by Section 4(k) hereof, or until it is advised
in  writing  (the  "Advice")  by the  Company  that  the  use of the  applicable
Prospectus  may be  resumed,  and  has  received  copies  of any  amendments  or
supplements thereto.

         5.       Registration Expenses

                           (a)      All  fees  and  expenses   incident  to  the
                                    performance  of  or  compliance   with  this
                                    Agreement  by the Company  shall be borne by
                                    the   Company   whether   or  not  a   Shelf
                                    Registration is filed or becomes  effective,
                                    including,   without  limitation,   (i)  all
                                    registration  and  filing  fees  (including,
                                    without limitation, (A) fees with respect to
                                    filings required to be made with the NASD in
                                    connection with an underwritten offering and
                                    (B) fees and  expenses  of  compliance  with
                                    state    securities   or   Blue   Sky   laws
                                    (including,  without limitation,  reasonable
                                    fees  and   disbursements   of   counsel  in
                                    connection with Blue Sky  qualifications  of
                                    the Registrable Securities and determination
                                    of  the   eligibility  of  the   Registrable
                                    Securities for investment  under the laws of
                                    such  jurisdictions  as  provided in Section
                                    4(h)  hereof,  in the  case  of  Registrable
                                    Securities),    (ii)   printing

                                      -29-
<PAGE>

                                    expenses,   including,  without  limitation,
                                    expenses   of  printing   certificates   for
                                    Registrable  Securities  in a form  eligible
                                    for  deposit  with  The   Depository   Trust
                                    Company and of printing  prospectuses if the
                                    printing of prospectuses is requested by the
                                    managing  underwriter  or  underwriters,  if
                                    any,  by the Holders of a majority of shares
                                    of the  Registrable  Securities  included in
                                    any Registration Statement, (iii) messenger,
                                    telephone and delivery  expenses,  (iv) fees
                                    and disbursements of counsel for the Company
                                    and  fees  and   disbursements   of  special
                                    counsel  for  the  sellers  of   Registrable
                                    Securities  (subject  to the  provisions  of
                                    Section   5(b)   hereof),   (v)   fees   and
                                    disbursements  of all independent  certified
                                    public  accountants  referred  to in Section
                                    4(m)(iii)   hereof    (including,    without
                                    limitation,  the  expenses  of  any  special
                                    audit and "cold comfort" letters required by
                                    or  incident  to  such  performance),   (vi)
                                    rating  agency fees,  (vii)  Securities  Act
                                    liability insurance,  if the Company desires
                                    such insurance,  (viii) fees and expenses of
                                    all other  Persons  retained by the Company,
                                    (ix)   internal   expenses  of  the  Company
                                    (including, without limitation, all salaries
                                    and  expenses of officers  and  employees of
                                    the Company  performing  legal or accounting
                                    duties),  (x)  the  expense  of  any  annual
                                    audit,  (xi) the fees and expenses  incurred
                                    in  connection   with  the  listing  of  the
                                    securities

                                      -30-
<PAGE>

                                    to be registered on any securities exchange,
                                    if   applicable,   and  (xii)  the  expenses
                                    relating to printing,  word  processing  and
                                    distributing  all  Registration  Statements,
                                    underwriting  agreements,  securities  sales
                                    agreements,   indentures   and   any   other
                                    documents  necessary in order to comply with
                                    this Agreement.

                           (b)      The Company  shall  reimburse the Holders of
                                    the Registrable  Securities being registered
                                    in a Shelf Regis tration for the  reasonable
                                    fees and  disbursements of not more than one
                                    counsel (in  addition to  appropriate  local
                                    counsel) chosen by the Holders of a majority
                                    in Amount of the  Registrable  Securities to
                                    be included in such  Registration  Statement
                                    and other reasonable  out-of-pocket expenses
                                    of such  Holders of  Registrable  Securities
                                    incurred in connection with the registration
                                    and  sale  of  the  Registrable   Securities
                                    pursuant to any Registration Statement.

         6.       Indemnification

                           (a)      The Company will indemnify and hold harmless
                                    each Holder of Registrable Securities,  each
                                    Person that  participates  as an underwriter
                                    or   sales   agent   in  any  sale  of  such
                                    Registrable      Securities      (each     a
                                    "Participant")  against any losses,  claims,
                                    damages or liabilities, joint or several, to
                                    which such  Participant  may become subject,

                                      -31-
<PAGE>

                                    under the Securities Act or the Exchange Act
                                    or   otherwise,   insofar  as  such  losses,
                                    claims,  damages or liabilities  (or actions
                                    in  respect  thereof)  arise  out  of or are
                                    based upon any untrue  statement  or alleged
                                    untrue   statement  of  any  material   fact
                                    contained in any  Registration  Statement or
                                    Prospectus,  or any  amendment or supplement
                                    thereto   or   any    related    preliminary
                                    prospectus or arise out of or are based upon
                                    the  omission  or alleged  omission to state
                                    therein a material  fact  necessary in order
                                    to make the statements therein, in the light
                                    of the  circumstances  under which they were
                                    made,  not  misleading,  and will  reimburse
                                    each   Purchaser  for  any  legal  or  other
                                    expenses   reasonably   incurred   by   such
                                    Purchaser in connection  with  investigating
                                    or defending any such loss,  claim,  damage,
                                    liability  or  action as such  expenses  are
                                    incurred;   provided,   however,   that  the
                                    Company  will not be liable in any such case
                                    to the  extent  that any such  loss,  claim,
                                    damage  or  liability  arises  out  of or is
                                    based  upon an untrue  statement  or alleged
                                    untrue  statement  in or omission or alleged
                                    omission  from  any  of  such  documents  in
                                    reliance upon and in conformity with written
                                    information  furnished to the Company by any
                                    Participant  specifically  for use  therein;
                                    provided, further, that the Company will not
                                    be  liable  if  such  untrue   statement  or
                                    omission  or  alleged  untrue  statement  or
                                    omission  was

                                      -32-
<PAGE>

                                    contained   or  made   in  any   preliminary
                                    prospectus  and corrected in the  Prospectus
                                    or any amendment or  supplement  thereto and
                                    the  Prospectus  does not  contain any other
                                    untrue  statement  or  omission  or  alleged
                                    untrue  statement  or omission of a material
                                    fact  that  was the  subject  matter  of the
                                    related   proceeding   and  any  such  loss,
                                    liability, claim, damage or expense suffered
                                    or  incurred  by the  Participants  resulted
                                    from any action, claim or suit by any Person
                                    who purchased Registrable Securities that is
                                    the subject  thereof  from such  Participant
                                    and  it  is   established   in  the  related
                                    proceeding that such  Participant  failed to
                                    deliver or provide a copy of the  Prospectus
                                    (as amended or  supplemented) to such Person
                                    with or  prior  to the  confirmation  of the
                                    sale of such Registrable  Securities sold to
                                    such Person if required by  applicable  law,
                                    unless such  failure to deliver or provide a
                                    copy  of  the   Prospectus  (as  amended  or
                                    supplemented)  was a result of noncompliance
                                    by  the  Company  with  Section  4  of  this
                                    Agreement.

                           (b)      The Company may  require,  as a condition to
                                    including  Registrable   Securities  in  any
                                    Registration  Statement,  that  the  related
                                    Participants agree severally and not jointly
                                    to indemnify  and hold  harmless the Company
                                    against  any  losses,   claims,  damages  or
                                    liabilities  to which the Company may become
                                    subject,  under  the

                                      -33-
<PAGE>

                                    Securities   Act  or  the  Exchange  Act  or
                                    otherwise,  insofar as such losses,  claims,
                                    damages  or   liabilities   (or  actions  in
                                    respect  thereof)  arise out of or are based
                                    upon any untrue  statement or alleged untrue
                                    statement of any material fact  contained in
                                    any Registration Statement or Prospectus, or
                                    any amendment or supplement  thereto, or any
                                    related  prospectus,  or arise out of or are
                                    based  upon  the  omission  or  the  alleged
                                    omission  to state  therein a material  fact
                                    necessary  in order  to make the  statements
                                    therein,  in the light of the  circumstances
                                    under which they were made, not  misleading,
                                    in each case to the extent,  but only to the
                                    extent,   that  such  untrue   statement  or
                                    alleged  untrue  statement  or  omission  or
                                    alleged  omission was made in reliance  upon
                                    and in conformity  with written  information
                                    furnished to the Company by such Participant
                                    specifically  for  use  therein,   and  will
                                    reimburse   any  legal  or  other   expenses
                                    reasonably   incurred   by  the  Company  in
                                    connection with  investigating  or defending
                                    any such loss, claim,  damage,  liability or
                                    action as such  expenses are  incurred.  The
                                    liability  of  any  Participant  under  this
                                    subsection  shall in no event exceed the net
                                    proceeds  received by such  Participant from
                                    sales of Registrable  Securities giving rise
                                    to such obligations.

                                      -34-
<PAGE>

                           (c)      Promptly  after  receipt  by an  indemnified
                                    party  under  this  Section of notice of the
                                    commencement of any action, such indemnified
                                    party will, if a claim in respect thereof is
                                    to be made  against the  indemnifying  party
                                    under  subsection  (a) or (b) above,  notify
                                    the  indemnifying  party of the commencement
                                    thereof;  but the  omission so to notify the
                                    indemnifying  party will not relieve it from
                                    any  liability  which  it  may  have  to any
                                    indemnified  party  other  wise  than  under
                                    subsection  (a) or (b)  above.  In case  any
                                    such   action   is   brought   against   any
                                    indemnified   party  and  it  notifies   the
                                    indemnifying   party  of  the   commencement
                                    thereof,  the  indemnifying  party  will  be
                                    entitled to participate  therein and, to the
                                    extent  that it may wish,  jointly  with any
                                    other indemnifying party similarly notified,
                                    to assume the defense thereof,  with counsel
                                    satisfactory to such indemnified  party (who
                                    shall not,  except  with the  consent of the
                                    indemnified   party,   be   counsel  to  the
                                    indemnifying  party),  and after notice from
                                    the  indemnifying  party to such indemnified
                                    party  of  its  election  so to  assume  the
                                    defense thereof, the indemnifying party will
                                    not be  liable  to  such  indemnified  party
                                    under  this  Section  for any legal or other
                                    expenses   subsequently   incurred  by  such
                                    indemnified  party  in  connection  with the
                                    defense thereof other than reasonable  costs
                                    of

                                      -35-
<PAGE>

                                    investigation.  No indemnifying party shall,
                                    without  the prior  written  consent  of the
                                    indemnified party,  effect any settlement of
                                    any pending or threatened  action in respect
                                    of which any  indemnified  party is or could
                                    have been a party and  indemnity  could have
                                    been sought  hereunder  by such  indemnified
                                    party  unless  such  settlement  includes an
                                    unconditional  release  of such  indemnified
                                    party from all  liability on any claims that
                                    are the subject matter of such action.

                           (d)      If the indemnification  provided for in this
                                    Section is  unavailable or  insufficient  to
                                    hold  harmless  an  indemnified  party under
                                    subsection  (a)  or  (b)  above,  then  each
                                    indemnifying  party shall  contribute to the
                                    amount  paid or payable by such  indemnified
                                    party as a  result  of the  losses,  claims,
                                    damages  or   liabilities   referred  to  in
                                    subsection  (a) or  (b)  above  (i) in  such
                                    proportion as is  appropriate to reflect the
                                    relative benefits received by the Company on
                                    the one  hand  and the  Participants  on the
                                    other from the  offering of the  Registrable
                                    Securities   or  (ii)   if  the   allocation
                                    provided   by   clause   (i)  above  is  not
                                    permitted   by   applicable   law,  in  such
                                    proportion as is  appropriate to reflect not
                                    only the  relative  benefits  referred to in
                                    clause (i) above but also the relative fault
                                    of the  Company  on the  one  hand  and  the
                                    Participants on the other in connection with

                                      -36-
<PAGE>

                                    the  statements or omissions  which resulted
                                    in   such   losses,   claims,   damages   or
                                    liabilities  as well as any  other  relevant
                                    equitable   considerations.   The   relative
                                    benefits  received by the Company on the one
                                    hand and any  Participant on the other shall
                                    be  deemed to be in the same  proportion  as
                                    the  total  net  proceeds  from the  initial
                                    offering  of  the   Registrable   Securities
                                    (before deducting  expenses) received by the
                                    Company  bear  to  the  total  net  proceeds
                                    received by such  Participant  from sales of
                                    Registrable  Securities  giving rise to such
                                    obligations.  The  relative  fault  shall be
                                    determined  by  reference  to,  among  other
                                    things, whether the untrue or alleged untrue
                                    statement of a material fact or the omission
                                    or alleged omission to state a material fact
                                    relates  to  information   supplied  by  the
                                    Company or such Participant and the parties'
                                    relative   intent,   knowledge,   access  to
                                    information  and  opportunity  to correct or
                                    prevent  such untrue  statement or omission.
                                    The amount paid by an indemnified party as a
                                    result of the  losses,  claims,  damages  or
                                    liabilities   referred   to  in  the   first
                                    sentence  of this  subsection  (d)  shall be
                                    deemed  to   include   any  legal  or  other
                                    expenses   reasonably   incurred   by   such
                                    indemnified   party   in   connection   with
                                    investigating  or  defending  any  action or
                                    claim   which   is  the   subject   of  this
                                    subsection    (d).    Notwithstanding    the
                                    provisions

                                      -37-
<PAGE>

                           of       this subsection (d), no Participant shall be
                                    required to contribute  any amount in excess
                                    of the  amount  by  which  the net  proceeds
                                    received by such  Participant  from sales of
                                    Registrable Securities exceeds the amount of
                                    any  damages  which  such   Participant  has
                                    otherwise  been required to pay by reason of
                                    such untrue or alleged  untrue  statement or
                                    omission  or  alleged  omission.  No  person
                                    guilty   of   fraudulent   misrepresentation
                                    (within the meaning of Section  11(f) of the
                                    Act) shall be entitled to contribution  from
                                    any  person  who  was  not  guilty  of  such
                                    fraudulent      misrepresentation.       The
                                    Participants' obligations in this subsection
                                    (d) to contribute  are several in proportion
                                    to their  respective  Amounts of Registrable
                                    Securities   registered   pursuant  to  this
                                    Agreement, and not joint.

                           (e)      The  obligations  of the Company  under this
                                    Section   shall  be  in   addition   to  any
                                    liability  which the Company  may  otherwise
                                    have and shall  extend,  upon the same terms
                                    and  conditions,  to each officer,  director
                                    and partner of each  Participant and to each
                                    Person, if any, who controls any Participant
                                    within the meaning of the  Securities Act or
                                    the Exchange Act; and the obligations of the
                                    Participant  under this Section  shall be in
                                    addition   to  any   liability   which   the
                                    respective  Participants  otherwise have and
                                    shall  extend,   upon  the

                                      -38-
<PAGE>

                                    same terms and  conditions,  to each officer
                                    and  director  of the  Company  and to  each
                                    Person,  if any,  who  controls  the Company
                                    within the meaning of the  Securities Act or
                                    the Exchange Act.

         7.       Rules 144 and 144A.

         The  Company  covenants  that it will file the  reports  required to be
filed by it under  the  Securities  Act and the  Exchange  Act and the rules and
regulations  adopted by the SEC thereunder in a timely manner in accordance with
the  requirements  of the Securities Act and the Exchange Act and such rules and
regulations  and,  if at any time  the  Company  is not  required  to file  such
reports, it will, upon the request of any Holder of Registrable Securities, make
publicly  available  annual  reports and such  information,  documents and other
reports of the type  specified in Sections 13 and 15(d) of the Exchange Act. The
Company  further  covenants  for so long as any  Registrable  Securities  remain
outstanding,  to make available to any Holder or beneficial owner of Registrable
Securities in connection with any sale thereof and any prospective  purchaser of
such  Registrable   Securities  from  such  Holder  or  beneficial   owner,  the
information  required by Rule  144A(d)(4)  under the  Securities Act in order to
permit resales of such Registrable Securities pursuant to Rule 144A.

         8.       Underwritten Registrations.

         If any of the Registrable  Securities covered by any Shelf Registration
is to be sold in an underwritten  offer ing, the investment banker or investment
bankers and manager or managers  that will manage the offering  will be selected
by the Holders of a majority in Amount of such Registrable  Securities  included
in such offering and reasonably acceptable to the Company.

         No Holder of Registrable Securities may participate in any underwritten
registration  hereunder  unless  such  Holder (a)  agrees to sell such  Holder's
Registrable  Securities on

                                      -39-
<PAGE>

the basis  provided  in any  underwriting  arrangements  approved by the Persons
entitled  hereunder to approve such  arrangements and (b) completes and executes
all questionnaires, powers of attorney, indemnities, underwriting agreements and
other documents required under the terms of such underwriting arrangements.

         9.       Representations and Warranties.

         The Company represents and warrants to, and agrees with, each Purchaser
and each of the Holders from time to time of Registrable Securities that:

                           (a)      Each   registration    statement    covering
                                    Registrable  Securities and each  prospectus
                                    (including   any   preliminary   or  summary
                                    prospectus)  contained  therein or furnished
                                    pursuant to this  Agreement  and any further
                                    amendments  or   supplements   to  any  such
                                    registration  statement or prospectus,  when
                                    it  becomes  effective  or is filed with the
                                    SEC, as the case may be, and, in the case of
                                    an  underwritten   offering  of  Registrable
                                    Securities, at the time of the closing under
                                    the underwriting agreement relating thereto,
                                    will conform in all material respects to the
                                    requirements  of the  Securities Act and the
                                    TIA and the rules and regulations of the SEC
                                    and any such registration  statement and any
                                    amendment   thereto  will  not  include  any
                                    untrue  statement of a material fact or omit
                                    to state any  material  fact  required to be
                                    stated  therein  or  necessary  to make  the
                                    statements  therein not  misleading  and any
                                    such   prospectus   or  any   amendment   or
                                    supplement thereto will not include

                                      -40-
<PAGE>

                                    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  therein not  misleading in light
                                    of the circumstances  then existing;  and at
                                    all times  subsequent to the effective  time
                                    of any such  registration  statement  when a
                                    prospectus would be required to be delivered
                                    under the  Securities  Act,  other than from
                                    (i) such time as a notice  has been given to
                                    Holders of Registrable  Securities  pursuant
                                    to the last  paragraph  of  Section  4(t) or
                                    pursuant to Section  4(k) hereof  until (ii)
                                    such  time  as  the  Company   furnishes  an
                                    amended or supplemented  prospectus pursuant
                                    to Section 4(k) hereof or otherwise gives an
                                    Advice,  each such  registration  statement,
                                    and each  prospectus  (including any summary
                                    prospectus)  con tained therein or furnished
                                    pursuant  to Section  4(k) or  Section  4(g)
                                    hereof,  as then  amended  or  supplemented,
                                    will conform in all material respects to the
                                    requirements  of the  Securities Act and the
                                    TIA and the  rules  and  regulations  of the
                                    Commission  and will not  include any untrue
                                    statement  of any  material  fact or omit to
                                    state a material  fact required to be stated
                                    therein or necessary to make the  statements
                                    therein not  misleading  in the light of the
                                    circumstances   then   existing;   provided,
                                    however,   that  this   representation   and
                                    warranty does not apply to any statements or
                                    omissions from a  registration

                                      -41-
<PAGE>

                                    statement  or  prospectus   (including   any
                                    preliminary  or  summary  prospectus)  based
                                    upon  written  information  furnished to the
                                    Company by any  underwriter,  sales agent or
                                    Holder specifically for use therein.

                           (b)      Any documents  incorporated  by reference in
                                    any  prospectus  referred to in Section 4(a)
                                    hereof, when they become or became effective
                                    or are or were  filed  with the SEC,  as the
                                    case may be, will  conform or  conformed  in
                                    all material respects to the requirements of
                                    the  Securities  Act or the Exchange Act, as
                                    applicable,  and none of such documents will
                                    include or included any untrue  statement of
                                    a  material  fact or will omit or omitted to
                                    state  any  material  fact  required  to  be
                                    stated  therein  or  necessary  to make  the
                                    statements therein not misleading; provided,
                                    however,   that  this   representation   and
                                    warranty does not apply to any statements or
                                    omissions from a  registration  statement or
                                    the prospectus (including any preliminary or
                                    summary   prospectus)   based  upon  written
                                    information  furnished to the Company by any
                                    underwriter,    sales    agent   or   Holder
                                    specifically for use therein.

                           (c)      The  issuance  and  sale of the  Registrable
                                    Securities  did not and  will  not,  and the
                                    execution,  delivery and performance of this
                                    Agreement  and  the   consummation   of

                                      -42-
<PAGE>

                                    the transactions  herein  contemplated  will
                                    not,  result in a breach or violation of any
                                    of  the   terms   and   provisions   of,  or
                                    constitute  a default  under,  any  statute,
                                    rule,  regulation,  order or  policy  of any
                                    governmental  agency  or body or any  court,
                                    domestic  or  foreign,  having  jurisdiction
                                    over the  Company or any  subsidiary  of the
                                    Company  or any  of  their  properties,  the
                                    Credit Agreement (as defined in the Purchase
                                    Agreement)   or  any  other   agreement   or
                                    instrument  to which the Company or any such
                                    subsidiary  is  a  party  or  by  which  the
                                    Company or any such  subsidiary  is bound or
                                    to which the Company or any such  subsidiary
                                    has agreed to become bound,  or to which any
                                    of the properties of the Company or any such
                                    subsidiary  is  subject,  or the  charter or
                                    by-laws (or other  constituent  document) of
                                    the Company or any such subsidiary.

         10.      Miscellaneous

                           (a)      No Inconsistent Agreements.  The Company has
                                    not, as of the date hereof,  and the Company
                                    shall not, after the date of this Agreement,
                                    enter into any agreement with respect to any
                                    of its securities that is inconsistent  with
                                    the  rights   granted  to  the   Holders  of
                                    Registrable  Securities in this Agreement or
                                    otherwise   conflicts  with  the  provisions
                                    hereof. The Company has not

                                      -43-
<PAGE>

                                    entered   and  will  not   enter   into  any
                                    agreement   with   respect  to  any  of  its
                                    securities  that  will  grant to any  Person
                                    piggyback  registration  rights with respect
                                    to a Registration  Statement,  except to the
                                    extent  any  existing  right has  heretofore
                                    been waived.

                           (b)      Adjustments       Affecting      Registrable
                                    Securities.  The Company shall not, directly
                                    or indirectly,  take any action with respect
                                    to the  Registrable  Securities  as a  class
                                    that would  adversely  affect the ability of
                                    the  Holders of  Registrable  Securities  to
                                    include  such  Registrable  Securities  in a
                                    registration  undertaken  pursuant  to  this
                                    Agreement.

                           (c)      Amendments  and Waivers.  The  provisions of
                                    this Agreement may not be amended,  modified
                                    or supplemented,  and waivers or consents to
                                    departures  from the  provisions  hereof may
                                    not be given,  otherwise than with the prior
                                    written  consent  of  the  Company  and  the
                                    Holders  of  not  less  than a  majority  in
                                    Amount of the then  outstanding  Registrable
                                    Securities;  provided, however, that Section
                                    6 and this Section 10(c) may not be amended,
                                    modified or  supplemented

                                      -44-
<PAGE>

                                    without  the prior  written  consent  of the
                                    Company and each Holder  (including,  in the
                                    case  of  an  amendment,   modification   or
                                    supplement  of Section 6, any person who was
                                    a Holder of Registrable Securities, disposed
                                    of pursuant to any Registration  Statement).
                                    Notwithstanding  the foregoing,  a waiver or
                                    consent to depart from the provisions hereof
                                    with   respect  to  a  matter  that  relates
                                    exclusively  to the  rights  of  Holders  of
                                    Registrable  Securities whose securities are
                                    being  sold   pursuant  to  a   Registration
                                    Statement  and  that  does not  directly  or
                                    indirectly   affect,    impair,   limit   or
                                    compromise  the  rights of other  Holders of
                                    Registrable   Securities  may  be  given  by
                                    Holders of at least a majority  in Amount of
                                    the  Registrable  Securities  being  sold by
                                    such Holders  pursuant to such  Registration
                                    Statement;   provided,   however,  that  the
                                    provisions  of  this  sentence  may  not  be
                                    amended,  modified or supplemented except in
                                    accordance   with  the   provisions  of  the
                                    immediately preceding sentence.

                           (d)      Notices.     All     notices    and    other
                                    communications  provided  for  or  permitted
                                    hereunder   shall  be  made  in  writing  by
                                    hand-delivery,

                                      -45-
<PAGE>

                                    registered  first-class  mail,  next-day air
                                    courier or facsimile:

                  (1) if to a Holder of the Registrable Securities,  at the most
         current address of such Holder on the Security  Register (as defined in
         the Indenture),  in the case of Convertible Notes, and the stock ledger
         of the  Company,  in the case of Class A Common  Stock,  with a copy in
         like manner to the Initial Purchasers as follows:

               CREDIT SUISSE FIRST BOSTON CORPORATION
               DEUTSCHE BANK SECURITIES INC.
               LEHMAN BROTHERS INC.
               BANC OF AMERICA SECURITIES LLC
               BEAR, STEARNS & CO. INC.
               SALOMON SMITH BARNEY INC.
               FIRST UNION SECURITIES, INC.
               GOLDMAN, SACHS & CO.
               LEGG MASON WOOD WALKER, INCORPORATED
               MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
               MORGAN STANLEY & CO. INCORPORATED
               RAYMOND JAMES & ASSOCIATES, INC.
               c/o Credit Suisse First Boston Corporation
               Eleven Madison Avenue
               New York, New York  10010
               Facsimile No:  (212) 325-8278
               Attention:  Investment Banking Department
                           Transactions Advisory Group

         with a copy to:

               Sullivan & Cromwell
               125 Broad Street
               New York, New York  10004
               Facsimile No.:  (212) 558-3588
               Attention:  John T. Bostelman, Esq.

         (2) if to the Initial Purchasers, at the addresses specified in Section
10(d)(1);

                                      -46-
<PAGE>

         (3) if to the Company, at the addresses as follows:

               American Tower Corporation
               116 Huntington Avenue
               Boston, Massachusetts  02116
               Facsimile No.:  (617) 375-7575
               Attention:  Chief Financial Officer

with copies to:

          Sullivan & Worcester LLP
          One Post Office Square
          Boston, Massachusetts 02109
          Facsimile No.:  (617) 338-2880
          Attention:  Norman Bikales, Esq.

         All such notices and  communications  shall be deemed to have been duly
given: when delivered by hand, if personally delivered; five business days after
being deposited in the mail, postage prepaid,  if mailed; one business day after
being  timely  delivered  to  a  next-day  air  courier;  and  when  receipt  is
acknowledged by the addressee, if sent by facsimile.

                           (e)      Successors and Assigns. This Agreement shall
                                    inure to the benefit of and be binding  upon
                                    the  successors  and  assigns of each of the
                                    parties   hereto,   including  the  Holders;
                                    provided, however, that this Agreement shall
                                    not inure to the  benefit  of or be  binding
                                    upon  a  successor  or  assign  of a  Holder
                                    unless  and   except  to  the  extent   such
                                    successor   or  assign   holds   Registrable
                                    Securities.

                           (f)      Counterparts. This Agreement may be executed
                                    in any  number  of  counterparts  and by the
                                    parties  hereto  in  separate  counterparts,
                                    each of  which  when so  executed  shall  be
                                    deemed  to be an  original

                                      -47-
<PAGE>

                                    and  all  of  which  taken   together  shall
                                    constitute one and the same agreement.

                           (g)      Headings. The headings in this Agreement are
                                    for  convenience of reference only and shall
                                    not limit or  otherwise  affect the  meaning
                                    hereof.

                           (h)      Governing  Law.  THIS  AGREEMENT   SHALL  BE
                                    GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
                                    THE  LAWS  OF  THE  STATE  OF NEW  YORK,  AS
                                    APPLIED  TO  CONTRACTS  MADE  AND  PERFORMED
                                    WHOLLY WITHIN THE STATE OF NEW YORK, WITHOUT
                                    REGARD TO  PRINCIPLES  OF  CONFLICTS OF LAW.
                                    EACH OF THE PARTIES  HERETO AGREES TO SUBMIT
                                    TO THE  JURISDICTION  OF THE  COURTS  OF THE
                                    STATE   OF  NEW  YORK  IN  ANY   ACTION   OR
                                    PROCEEDING  ARISING  OUT OF OR  RELATING  TO
                                    THIS AGREEMENT.

                           (i)      Severability.   If  any   term,   provision,
                                    covenant or restriction of this Agreement is
                                    held by a court of competent jurisdiction to
                                    be invalid,  illegal, void or unenforceable,
                                    the  remainder  of  the  terms,  provisions,
                                    covenants and  restrictions set forth herein
                                    shall  remain in full  force and  effect and
                                    shall  in no way be  affected,  impaired  or
                                    invalidated,  and the parties  hereto  shall
                                    use their best efforts to find and employ an
                                    alternative  means  to  achieve  the same or
                                    substantially   the  same   result  as  that
                                    contemplated   by  such   term,   provision,
                                    covenant  or   restriction.   It  is  hereby
                                    stipu-

                                      -48-
<PAGE>

                                    lated and  declared to be the  intention  of
                                    the  parties  that they would have  executed
                                    the remaining terms,  provisions,  covenants
                                    and  restrictions  without  including any of
                                    such that may be hereafter declared invalid,
                                    illegal, void or unenforceable.

                           (j)      Securities   Held  by  the  Company  or  Its
                                    Affiliates. Whenever the consent or approval
                                    of  Holders  of a  specified  percentage  in
                                    Amount of Registrable Securities is required
                                    hereunder,  Registrable  Securities  held by
                                    the Company or its  affiliates (as such term
                                    is defined in Rule 405 under the  Securities
                                    Act)  shall not be  counted  in  determining
                                    whether  such  consent or approval was given
                                    by the Holders of such required percentage.

                           (k)      Third   Party   Beneficiaries.   Holders  of
                                    Registrable  Securities  are intended  third
                                    party  beneficiaries  of this  Agreement and
                                    this  Agreement  may  be  enforced  by  such
                                    Persons.

                           (l)      Entire Agreement.  This Agreement,  together
                                    with   the   Purchase   Agreement   and  the
                                    Indenture,  is  intended by the parties as a
                                    final  and   exclusive   statement   of  the
                                    agreement and  understanding  of the parties
                                    hereto  in  respect  of the  subject  matter
                                    contained herein and therein and any and all
                                    prior    oral   or    written    agreements,
                                    representations,  or warranties,  contracts,

                                      -49-
<PAGE>

                                    understandings,              correspondence,
                                    conversations   and  memoranda  between  the
                                    Initial  Purchasers  on the one hand and the
                                    Company  on the  other,  or between or among
                                    any   agents,   representatives,    parents,
                                    subsidiaries,  affiliates,  predecessors  in
                                    interest  or  successors  in  interest  with
                                    respect  to the  subject  matter  hereof and
                                    thereof  are  merged   herein  and  replaced
                                    hereby.

                                      -50-
<PAGE>

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

                                       AMERICAN TOWER CORPORATION

                                       By: /s/ Justin D. Benincasa
                                                Name:  Justin D. Benincasa
                                                Title: Vice President/
                                                       Corporate Controller

                                       CREDIT SUISSE FIRST BOSTON
                                                CORPORATION
                                       DEUTSCHE BANK SECURITIES INC.
                                       LEHMAN BROTHERS INC.
                                       BANC OF AMERICA SECURITIES LLC
                                       BEAR, STEARNS & CO. INC.
                                       SALOMON SMITH BARNEY INC.
                                       FIRST UNION SECURITIES, INC.
                                       GOLDMAN, SACHS & CO.
                                       LEGG MASON WOOD WALKER,
                                                INCORPORATED
                                       MERRILL LYNCH, PIERCE, FENNER &
                                                SMITH INCORPORATED
                                       MORGAN STANLEY & CO. INCORPORATED
                                       RAYMOND JAMES & ASSOCIATES, INC.

                                       By:  CREDIT SUISSE FIRST BOSTON
                                                       CORPORATION

                                       By: /s/ Kristin M. Allen
                                                Name:  Kristin M. Allen
                                                Title: Managing DirectorPortions of the following agreement have been redacted. Those words or phrases
that have been redacted have been replaced with the following: **********. This
information has been omitted pursuant to a request to the Securities and
Exchange Commission for confidential treatment of this information pursuant to
Rule 24b-2 of the Exchange Act of 1934.

<PAGE>

                               STRATEGIC AGREEMENT
                               -------------------

         This Marketing Agreement (the "AGREEMENT"), dated as of February 2,
2000 (the "EFFECTIVE DATE"), is between and among America Online, Inc. ("AOL")
and its wholly owned subsidiary CompuServe Interactive Services, Inc.
("COMPUSERVE"), a Delaware corporation, with offices at 5000 Arlington Centre
Blvd, Columbus, Ohio 43220, and DME Interactive Holdings Inc. ("DME"), a
Delaware Corporation and its wholly owned subsidiary, Places of Color, Inc. a
Delaware corporation, (collectively "POC"), with offices at 519 E. Palisade,
Englewood Cliffs, New Jersey 07632. AOL, CompuServe, DME and POC may be referred
to individually as a "PARTY" and collectively as "PARTIES."

                                  INTRODUCTION
                                  ------------

         The Partiesdesire to enter into a strategic marketing relationship
whereby (i) POC will distribute and promote certain services that are owned,
operated, distributed or authorized to be distributed by or through AOL or any
of its Affiliates, including a special edition version of the CompuServe Service
and (ii) AOL will obtain an equity interest in DME. Capitalized terms used but
not defined in the body of this Agreement or in the other Exhibits hereto, as
the case may be, shall have the respective meanings given to such terms in
EXHIBIT A attached hereto.

                                      TERMS
                                      -----

1.       DEVELOPMENT OF THE CUSTOMIZED SERVICE

         1.1      CUSTOMIZED SERVICE. CompuServe will develop and host a
                  customized version of the CompuServe Service, which shall be
                  programmed as described in EXHIBIT B ("Customized Service").
                  The Customized Service shall operate on the CompuServe
                  Software. CompuServe shall provide Subscribers access to the
                  Customized Service through the dial-up communication networks
                  utilized by CompuServe. POC will have the ability to publish
                  POC-provided Content on the Customized Service as described in
                  EXHIBIT B.

         1.2      BRANDING. The Customized Service shall be branded "POC Online
                  (or such other branding determined by POC), powered by
                  CompuServe." All online branding of POC and CompuServe will be
                  prominently featured above the fold, and each page shall
                  contain the following notice near the bottom "Content
                  Distributed by CompuServe." All marketing collateral shall be
                  similarly branded.

         1.3      OTHER MODIFICATIONS. Except as specifically provided in this
                  Agreement, POC shall not be entitled to swap out, add, or
                  publish any content or links to the Customized Service.
                  CompuServe may entertain the future integration of specific
                  POC programming on the Customized Service; provided that if
                  integrating any such services as agreed to by CompuServe
                  creates additional development costs, POC agrees to fund such
                  costs.

         1.4      COMPUSERVE LOOK AND FEEL. CompuServe reserves the right to
                  redesign and/or modify the features, functions, organization,
                  structure, "look and feel", navigation and other elements of
                  the Customized Service. If CompuServe implements any such
                  redesigns and/or modifications in a manner that materially
                  adversely affects the nature of the placements for POC
                  described in this Section 1, CompuServe will work with POC in
                  good faith to provide POC with comparable package of
                  placements reasonably satisfactory to POC.

                                       2
<PAGE>

         1.5      E-MAIL CUSTOMIZATION. CompuServe shall make available and host
                  email service for all Subscribers utilizing the CompuServe
                  email client already integrated into the CompuServe Service.

2.       POC WEBSITE

         2.1      CREATION AND OPERATION OF POC WEBSITE. In conjunction with the
                  development of the Customized Service set forth in Section 1,
                  POC shall maintain the POC Website as set forth in this
                  Section 2.

         2.2      USER TRAFFIC. POC will use reasonable commercial efforts to
                  ensure that end user traffic linked from the Customized
                  Service to the POC Website is either kept within the POC
                  Website or channeled back to the Customized Service and/or the
                  POC Website. CompuServe and POC shall cooperate in the
                  implementation of mutually acceptable links from the POC
                  Website to the Customized Service.

         2.3      CONTENT AND MARKETING RESTRICTIONS. POC agrees that the
                  POC-hosted Start Page accessed through the CompuServe Network
                  will not promote at an item/price level any of the following:
                  (i) telecommunications services (including long distance,
                  wireless, prepaid calling cards, post-paid calling cards,
                  on-line sign-up, online billing information, IP Telephony,
                  click-to-call and universal massaging), (ii) brokerage
                  service, (iii) Credit Cards/Charge Cards, (iv) photo
                  processing/developing, (v) such other products or services
                  that CompuServe may from time to time communicate to POC upon
                  thirty (30) days' notice or otherwise violate the CompuServe
                  TOS (defined in Section 3.2 below). In addition to the
                  foregoing, all Linked Pages will be subject to the
                  restrictions set forth in this Section 2.3. In addition, POC
                  agrees that the POC Website will not promote, sell, offer or
                  otherwise distribute any products or services through a
                  consumer to consumer auction format without the prior written
                  consent of CompuServe.

         2.4      HOSTING AND ACCESS. POC shall be responsible for any hosting
                  and communication costs associated with maintaining the POC
                  Website and any Content published by POC for use on the
                  Customized Service. Further, during the term of this
                  Agreement, POC will permit all AOL and CompuServe Members to
                  access and use the POC Website free of charge.

         2.5      OPERATING STANDARDS. POC shall ensure that the POC Website
                  complies at all times with the operating standards set forth
                  in EXHIBIT C and shall be subject to CompuServe's then-current
                  Advertising Policies, as amended from time to time by
                  CompuServe.

3.       OPERATION OF THE CUSTOMIZED SERVICE

         3.1      GENERAL. The Parties will use commercially reasonable efforts
                  to ensure the Launch Date occurs on or before March 31, 2000.
                  The "Launch Date" shall be the first to occur of March 31,
                  2000 or the first day that the Customized Service is
                  commercially available to Subscribers.

                                       3
<PAGE>

         3.2      PRICING. CompuServe shall determine, in its sole discretion,
                  the amount of the subscription fee charged to Subscribers and
                  any hourly limitations per month for usage of the Customized
                  Service. The Parties agree and acknowledge that they will
                  offer the Customized Service initially at a subscription fee
                  of $19.95 per month for not less than 150 hours of usage per
                  month; however, CompuServe shall have the right to adjust the
                  subscription fee at any time during the Term of this
                  Agreement. CompuSeve shall determine in its sole discretion
                  any and all of the terms and conditions for the use of the
                  Customized Service (including, but not limited
                  termination/cancellation provisions).

         3.3      TERMS OF SERVICE. POC agrees and acknowledges that each
                  prospective Subscriber shall, as a condition to the use of
                  such service, be required to agree to CompuServe's
                  then-standard end-user terms of service ("CompuServe TOS")
                  that it has developed for such service. CompuServe shall
                  determine in its sole discretion any and all of the terms and
                  conditions for the use of the Customized Service (including,
                  but not limited to termination/cancellation provisions), which
                  CompuServe may modify at any time in its sole discretion.

         3.4      SUBSCRIPTION FEES. CompuServe shall be responsible for the
                  billing and collection of all amounts due from members of the
                  Customized Service for accessing and using such services.
                  CompuServe shall be entitled to retain all subscription,
                  advertising, transaction, communication, premium surcharge and
                  other revenues generated by the Customized Service. POC shall
                  be entitled to retain all revenue generated by the POC Website
                  and the Linked Pages. With respect to an initial subscription
                  fee offering of $19.95 for the Customized Service, CompuServe
                  shall remit to POC as a marketing commission either (a)
                  ********** of the Subscription Fee collected by CompuServe per
                  month from each Subscriber if the total number of Subscribers
                  is ********** or less, or (b) ********** of the Subscription
                  Fee collected by CompuServe per month from each Subscriber if
                  the total number of Subscribers is greater than **********.
                  CompuServe shall pay such commissions to POC within sixty (60)
                  days after the end of each month. In the event that CompuServe
                  exercises its right under Section 3.2 to adjust the
                  subscription fee for the Customized Service, CompuServe shall
                  notify POC in writing of its intent to adjust the pricing for
                  the Customized Service (the "CompuServe Notice") and advise
                  POC of the new price point for the subscription fee ("Adjusted
                  Price Point"). In the event CompuServe proposes an Adjusted
                  Price Point below $19.95 per month, CompuServe also shall
                  propose a new formula for a marketing commission to POC. The
                  Parties shall negotiate in good faith and agree to a new
                  marketing commission formula within thirty (30) days of the
                  CompuServe Notice. Either Party may terminate this Agreement
                  in the event the Parties are unable to agree to a new
                  marketing commission under the terms set forth in this Section
                  3.4.

         3.5      ORDERS, INSTALLATION AND REGISTRATION. POC acknowledges and
                  agrees that when the CompuServe Software is installed on a
                  prospective Subscriber's system, such installation shall occur
                  pursuant to the installation procedures for such client
                  provided by CompuServe (which shall not be modified without
                  CompuServe's approval). To use the CompuServe Software to
                  access the respective service, a prospective subscriber must
                  first register with such service, which registration shall
                  occur pursuant to the then-standard registration procedures
                  for such service, as determined by CompuServe in its sole
                  discretion.

                                       4
<PAGE>

         3.6      SUPPORT OF SUBSCRIBERS. CompuServe shall, at its own expense,
                  provide or offer to Subscribers customer service for the
                  Customized Service as is generally provided or offered to
                  CompuServe Members, including without limitation customer
                  service, technical support, billing services, and special
                  promotions or offerings. Once the Customized Service has
                  achieved at least One Hundred Thousand Subscribers (100,000),
                  the parties may mutually agree on a manner in which the
                  customer service will be POC branded. In addition, the Parties
                  will cooperate to develop efficient methods of handling
                  customer service inquiries regarding the other Party's
                  products and/or services (E.G., exchanging 800 numbers or warm
                  transfer of calls).

4.       ONLINE MARKETING OVERVIEW

         4.1      SUBSCRIBER COMMUNICATIONS. All communications by POC to
                  Subscribers shall be (i) subject to approval by CompuServe,
                  (ii) performed by CompuServe, and (iii) subject to the
                  CompuServe TOS (including, without limitation, its Privacy
                  Policy and marketing preferences) and applicable laws and
                  regulations. The Parties shall use commercially reasonable
                  efforts to explore the development of a procedure in which a
                  pop up screen or similar device can be used to enable
                  Subscribers to opt in to disclosing certain personal and
                  demographical data for use by POC; provided however, that such
                  procedure (i) must be, as determined by CompuServe in its sole
                  discretion, technically and economically feasible to
                  implement, (ii) must comply with the terms of the CompuServe
                  TOS and all laws and regulations related to the use of
                  personal data and (iii) must enable Subscribers to change
                  their marketing preference at any time and in their sole
                  discretion.

         4.2      OUTBOUND EMAIL. POC agrees that all outbound email Subscribers
                  shall be subject to the CompuServe TOS, which includes, among
                  other things, the right of Subscribers to opt out of direct
                  marketing. POC shall submit such e-mails for approval by
                  CompuServe no later than one week prior to the proposed date
                  of distribution thereof.

         4.3      OWNERSHIP OF ADVERTISING AND PROMOTIONAL SPACE. Except as
                  otherwise provided herein, CompuServe owns all right, title
                  and interest in and to the advertising and promotional spaces
                  within the Customized Service, including, without limitation,
                  advertising and promotional spaces on any CompuServe forms or
                  pages preceding or framing (i) the forums, (ii) any
                  POC-provided content, (iii) the POC Website and (iv) the
                  Linked Pages.

5.       POC MARKETING OBLIGATIONS.

         5.1      POC'S MARKETING PLAN. POC, at its expense, will market the
                  Customized Service to its customers and prospective customers.

         5.2      CUSTOMIZED SERVICE DISTRIBUTION. CompuServe will provide a
                  Gold Master of the CompuServe Software and any documentation,
                  brochures and similar materials related to use of such
                  software and the Customized Service (the "Collateral")
                  pursuant to a distribution plan to be mutually agreed to by
                  POC and CompuServe. POC shall be responsible for ordering
                  sufficient quantities of the Collateral, and CompuServe will
                  ship the ordered quantities thereof within thirty (30)
                  calendar days after receiving an order from POC. POC will be
                  responsible for ordering the discs, disc replication costs, as
                  well as the costs of packaging and distributing the CompuServe
                  Software in disc form. POC agrees not to obfuscate, remove or
                  alter any of the patent, copyright or other proprietary rights
                  notices included in the CompuServe Software provided by
                  CompuServe to POC.

                                       5
<PAGE>

         5.3      ADDITIONAL PROMOTIONAL ACTIVITIES. POC will use all
                  commercially reasonable efforts to market the Customized
                  Service through additional marketing channels including, but
                  not limited to, bill inserts, radio, television, partner
                  channels, and prominent promotion on its existing POC Website.
                  Both Parties shall mutually agree upon the specific marketing
                  channels and messaging of any promotional campaign.

         5.4      MARKETING RESTRICTIONS. POC shall not market the Customized
                  Service to any current or prospective partner that derives
                  more than twenty percent (20%) of its gross revenues from the
                  sale or licensing of computer hardware, software or computing
                  products.

         5.5      SUPPRESSION. POC agrees to use reasonable efforts to suppress
                  from all marketing solicitations conducted by or on behalf of
                  it or any of its affiliates that market the Customized Service
                  (i) subscribers to AOL who joined within ********** months
                  of the date that any suppression merge/purge is conducted
                  hereunder, (ii) CompuServe Members who joined within *********
                  months of the date of any such merge/purge and (iii)
                  former subscribers to AOL who cancelled their AOL service
                  within six (6) months of the date of any such merge/purge. CSC
                  DirecTech shall conduct all merge/purge name suppression in
                  accordance with AOL house file suppression criteria (a copy of
                  which is attached as EXHIBIT D).

         5.6      EXCLUSIVITY. During the Term and except as may be permitted in
                  Section 5.7 and Section 10.1, or as may otherwise be mutually
                  agreed to by the Parties, POC shall not market, promote,
                  offer, sell or distribute any products or service integral to
                  an Interactive Service (other than the Customized Service as
                  contemplated hereunder) through any of its online or offline
                  marketing channels, including, without limitation, any
                  broadband solution that would be made available by CompuServe
                  to POC pursuant to Section 10.1 below.

         5.7      AOL MARKETING. At the request of AOL, POC shall use
                  commercially reasonable efforts to market and distribute the
                  AOL Service through POC's marketing channels as described
                  herein and as currently anticipated under the terms of this
                  Agreement. The specific marketing channels and messaging of
                  any promotional campaign shall be mutually agreed upon by both
                  Parties. AOL shall pay POC a fee of ********** for each
                  Qualified New Member acquired through the distribution of the
                  AOL Software by means of direct mailings and ********** for
                  each Qualified New Member acquired through the distribution of
                  the AOL Software by means of other distribution channels. AOL
                  shall pay such amounts to POC on a quarterly basis, within
                  thirty (30) days of the end of each calendar quarter. For the
                  purposes hereof, a "Qualified New Member" shall mean any
                  person or entity who registers for the AOL Service during the
                  Term using POC's special promotion identifier and who pays the
                  then-standard fees required for membership to the AOL Service
                  through at least two consecutive billing cycles.

6.       COSTS; REPORTING.

         6.1      COMPUSERVE COSTS. Except as otherwise provided in this
                  Agreement, CompuServe shall pay for the development of the
                  CompuServe Software, and any customization of the Customized
                  Service that will be developed and hosted by CompuServe, and
                  such other costs as are specifically allocated to CompuServe
                  under this Agreement.

                                       6
<PAGE>

         6.2      POC COSTS. POC shall bear the cost of duplicating the
                  CompuServe Software and marketing the Customized Service, all
                  Collateral with respect thereto and such other costs as are
                  specifically allocated to POC under this Agreement.
                  Notwithstanding the above, POC agrees to reimburse CompuServe
                  up to ********************* for any development
                  costs incurred by CompuServe in creating the CompuServe Tools
                  or any other tools, features or functionality requested by POC
                  hereunder, if there are not at least ********** Subscribers of
                  the Customized Service at the end of the initial 18-month
                  term.

         6.3      REPORTING. POC will provide CompuServe with monthly reports of
                  the total number of collateral units and other marketing
                  materials distributed to POC's customer base and a rolling
                  30/60/90 forecasts of intended future distributions to its
                  customer base. Subject to receiving POC's reports, CompuServe
                  will provide monthly reports detailing the number of new
                  Subscribers from POC's marketing program.

7.       PROMOTIONS.

         7.1      COOPERATION. Each Party shall cooperate with and reasonably
                  assist the other Party in supplying Content for marketing and
                  promotional activities that relate to the Customized Service.

         7.2      MATERIALS/PRESS RELEASES. Each Party will submit to the other
                  Party, for its prior written approval, which shall not be
                  unreasonably withheld or delayed, any press release or any
                  other public statement ("Press Release") regarding the
                  transactions contemplated hereunder. Notwithstanding the
                  foregoing, either Party may issue Press Releases and other
                  disclosures as required by law, rule, regulation or court
                  order or as reasonably advised by legal counsel without the
                  consent of the other Party and in such event, the disclosing
                  Party will provide at least five (5) business days prior
                  written notice of such disclosure. The failure to obtain the
                  prior written approval of the other Party shall be deemed a
                  material breach of this Agreement. Because it would be
                  difficult to precisely ascertain the extent of the injury
                  caused to the non-breaching Party, in the event of such
                  material breach, the non-breaching Party may terminate this
                  Agreement immediately upon notice to the other Party.

8.       EQUITY INTEREST.

         8.1      PRIVATE PLACEMENT OF DME COMMON STOCK. In addition to any
                  other payments set forth in this Agreement, POC's parent, DME,
                  hereby agrees to execute and deliver to America Online, Inc.
                  ("AOL") on or before February __, 2000, a Subscription
                  Agreement in substantially the same form attached hereto as
                  EXHIBIT E, pursuant to which AOL may subscribe to purchase
                  from DME up to one million two hundred fifty thousand
                  (1,250,000) shares of DME common stock, par value $.001 per
                  share ("DME Common Stock"), at a per share purchase price
                  equal to the stated par value thereof as of the date hereof.

         8.2      WARRANT FOR DME COMMON STOCK. In addition to the foregoing,
                  DME shall grant AOL a warrant (the "Warrant"), to purchase up
                  to an additional four million (4,000,000) shares of DME Common
                  Stock, at a per share purchase price equal to the closing
                  price per share of the DME Common Stock on the day immediately

                                       7
<PAGE>

                  preceding the Effective Date. The Warrant may be exercised, in
                  whole or in part, at any time and from time to time on or
                  after the date which is 18 months from the Effective Date of
                  this Agreement, as specifically described in the Warrant
                  attached hereto as EXHIBIT F.

         8.3      INVESTOR RIGHTS AGREEMENT. The DME securities held by AOL and
                  its permitted assigns shall be subject to an Investor Rights
                  Agreement, in substantially the same form attached hereto as
                  EXHIBIT G, which shall provide for, among other things,
                  certain registration rights. All fees and expenses in
                  connection with the foregoing shall be borne by DME (except
                  for sales commissions and discounts attributable to sales of
                  shares by the selling shareholder, which shall be borne by
                  such seller).

         8.4      AMENDMENT TO CERTIFICATE OF INCORPORATION. DME shall use its
                  best efforts to take all actions necessary to amend its
                  Certificate of Incorporation within ninety (90) days of the
                  Effective Date to increase the Company's authorized but
                  unissued shares of Common Stock to such number of shares as
                  shall permit AOL to exercise the entire Warrant. Following
                  such approval, DME shall at all times reserve and keep
                  available out of its authorized but unissued shares of Common
                  Stock, solely for the purpose of effecting the exercise of the
                  Warrant, a sufficient number of shares of Common Stock to
                  effect the exercise of the entire Warrant. DME's failure to
                  comply with this Section 8.4 shall constitute a material
                  breach of this Agreement.

9.       TERM AND TERMINATION

         9.1      TERM. The initial term of the agreement will be a period of
                  Eighteen (18) months from the Launch Date. On a date ninety
                  (90) days prior to the expiration date, the Parties shall meet
                  to determine whether to extend the Agreement. The initial
                  18-month term, together with any extension hereto, shall be
                  referred to herein as the "TERM." If the parties elect not to
                  extend the term, then, following expiration of the Agreement
                  (i) the then remaining subscriber base of the Customized
                  Service shall continue to receive the Customized Service (with
                  the applicable POC branding) until the subscriber base for the
                  Customized Service falls below **********. At such time,
                  CompuServe, at its option, may convert the remaining
                  subscriber base upon expiration of the Agreement to a standard
                  (non co-branded) CompuServe or AOL service offering, (ii)
                  CompuServe will control all retail pricing with respect to the
                  then remaining subscriber base, (iii) POC will not market,
                  through any online or offline marketing channel for a period
                  of one hundred eighty (180) days from the date of expiration,
                  an Interactive Service that is targeted to the then remaining
                  subscriber base.

         9.2      TERMINATION FOR BREACH. Except as expressly provided elsewhere
                  in this Agreement, either party may terminate this Agreement
                  at any time in the event of a material breach of the Agreement
                  by the other party which remains uncured after forty-five (45)
                  days written notice thereof to the other party (or such
                  shorter period as may be specified elsewhere in this
                  Agreement).

         9.3      TERMINATION FOR BANKRUPTCY/INSOLVENCY. Either party may
                  terminate this Agreement immediately following written notice
                  to the other party if the other party (i) ceases to do
                  business in the normal course, (ii) becomes or is declared
                  insolvent or bankrupt, (iii) is the subject of any proceeding
                  related to its liquidation or insolvency (whether voluntary or
                  involuntary) which is not dismissed within ninety (90)
                  calendar days or (iv) makes an assignment for the benefit of
                  creditors.

                                       8
<PAGE>

         9.4      TERMINATION BY MUTUAL AGREEMENT. This Agreement may be
                  terminated upon mutual agreement of the Parties.

         9.5      TERMINATION DUE TO A CHANGE IN MANAGEMENT. The Parties
                  acknowledge that AOL and CompuServe are entering into this
                  Agreement based upon DME's commitment to retain the services
                  of Darien Dash as a key executive of DME and POC. At the sole
                  election of AOL or CompuServe, this Agreement may be
                  terminated immediately upon written notice by AOL or
                  CompuServe at anytime if Darien Dash holds neither the
                  position of the Chariman or President of DME or POC.

10.      OTHER PRODUCTS

         10.1     BROADBAND. During the term of this Agreement, POC grants
                  CompuServe a first right of refusal to provide POC with a
                  broadband Internet access solution for the Customized Service.
                  CompuServe shall have thirty (30) days to respond to a written
                  broadband proposal from POC, which shall outline the material
                  terms of a proposed broadband access solution. If CompuServe
                  can deliver a similar product/service with business terms that
                  is substantially equivalent in all material respects to any
                  competitive offer, POC will agree to use the CompuServe device
                  solution.

11.      STANDARD LEGAL TERMS

         The Standard Legal Terms & Conditions set forth on EXHIBIT C attached
         hereto are each hereby made a part of this Agreement.

                                       9
<PAGE>

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the
Effective Date.

COMPUSERVE INTERACTIVE SERVICES, INC.       DME INTERACTIVE HOLDINGS, INC.

By: /s/ ALAN ALFORD                             By: /S/ DARIEN DASH
   ---------------------------------            -------------------------

Print Name: Alan Alford                     Print Name: Darien Dash
           -------------------------                    ------------------

Title:  Vice President--Business Affairs    Title: President
       ---------------------------------           -----------------------

AMERICA ONLINE, INC.                        PLACES OF COLOR, INC.

By: /s/ DAVID COLBURN                       By: /S/ DARIEN DASH
   ---------------------------------            -------------------------

Print Name: David Colburn                   Print Name: Darien Dash
           -------------------------                    ------------------

Title:  President--Business Affairs         Title: President
       ------------------------------              -----------------------

                                       10
<PAGE>

                                    EXHIBIT A
                                    ---------

                                   DEFINITIONS

AFFILIATE. Any agent, distributor, parent company or franchisee of CompuServe,
or an entity in which CompuServe holds at least a nineteen percent (19%) equity
interest.

AOL MEMBER shall mean any authorized user of the CompuServe Service, including
any sub-accounts using the CompuServe Service under an authorized master
account.

AOL SERVICE shall mean the proprietary software used to connect to and use the
U.S. version of the America Online(R) brand service.

AOL SOFTWARE shall mean the U.S. version of the America Online(R)brand
commercial online service.

CHANGE OF CONTROL. (a) The consummation of a reorganization, merger or
consolidation or sale or other disposition of substantially all of the assets of
a party; or (b) the acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1933,
as amended) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under such Act) of more than 50% of either (i) the then outstanding
shares of common stock of such party; or (ii) the combined voting power of the
then outstanding voting securities of such party entitled to vote generally in
the election of directors.

CHANNEL shall mean the Content areas organized into topical categories and
linked directly from navigational buttons from the POC-hosted Start Page or the
CompuServe Software on the Customized Service, as the same may exist from time
to time, but which currently includes the following: Communications, Personal
Finance, News, Weather, Home & Interests, Health & Fitness, Lifestyles,
Shopping, Sight & Sound, Chat, Member Center, Internet, Computing, Business,
Travel, Arts & Entertainment, Local, Car Club, Games, Forum Center, Research and
Sports.

COMPUSERVE LOOK AND FEEL. The distinctive and particular elements of graphics,
design, organization, presentation, layout, user interface, navigation, trade
dress and stylistic convention (including the digital implementations thereof)
within the CompuServe Network and the total appearance and impression
substantially formed by the combination, coordination and interaction of these
elements.

COMPUSERVE MEMBER shall mean any authorized user of the CompuServe Service,
including any sub-accounts using the CompuServe Service under an authorized
master account.

COMPUSERVE NETWORK shall mean (i) the CompuServe Service and (ii) any other
product or service owned, operated, distributed or authorized to be operated or
distributed by or through CompuServe or any of its affiliates worldwide
(including, without limitation, CompuServe.com, privately labeled or co-branded
portal sites or services developed and maintained by CompuServe for third
parties, and the other properties excluded from the definitions of the
CompuServe Service or CompuServe.com, as provided herein).

COMPUSERVE.COM shall mean the Internet "portal" site operated by CompuServe
under the "CompuServe.com" located at the URL __________.

                                       11
<PAGE>

COMPUSERVE SERVICE shall mean the standard personal computer-based, narrow-band
U.S. versions of the CompuServe(R) brand online service. The definition
specifically excludes (a) the international versions of CompuServe (E.G.,
CompuServe UK), (b) CompuServe.com, (c) "CompuServe Instant Messenger(TM),"
"Digital Cities" or any similar independent product, service or property which
may be offered by, through or with the U.S. versions of the CompuServe(R) brand
service, (d) any programming or content area offered by or through the U.S.
version of the CompuServe(R) brand service over which CompuServe does not
exercise complete operational control (including, without limitation, content
areas controlled by other parties and member-created content areas), (e) any
yellow pages, white pages, classifieds or other search, directory or review
services or content offered by or through the U.S. version of the CompuServe(R)
brand service, (f) any property, feature, product or service which CompuServe or
any of its affiliates may acquire subsequent to the Effective Date, any
privately labeled service in which CompuServe's agreement with a third party
prohibits or limits interactive marketing, placements, advertising or any other
form of promotion by CompuServe and (g) any other version of a CompuServe
service which is materially different from the standard narrow-band U.S.
versions of the CompuServe brand service, by virtue of its branding,
distribution, functionality, content or services, including, without limitation,
any co-branded version of the service and any version distributed through any
broadband distribution platform or through any platform or device other than a
desktop personal computer.

COMPUSERVE SOFTWARE shall mean CompuServe's standard proprietary software
marketed under the name "CompuServe 2000" that enables CompuServe Members to
access the CompuServe Service and the Internet.

COMPUSERVE TOOLS shall mean the proprietary management software, methods and
procedures that CompuServe determines in its sole discretion are reasonably
necessary for POC to program the POC-hosted Start Page and such other Content
that POC will post on the Customized Service in accordance with this Agreement.

CONFIDENTIAL INFORMATION. Any information relating to or disclosed in the course
of this Agreement, which is, or should be reasonably understood to be,
confidential or proprietary to the disclosing Party, including, but not limited
to, the material terms of this Agreement, information about CompuServe Members,
CompuServe Users, technical processes and formulas, source codes, product
designs, sales, cost and other unpublished financial information, product and
business plans, projections and marketing data. "Confidential Information" shall
not include information (a) already lawfully known to or independently developed
by the receiving Party without the use of any Confidential Information, (b)
disclosed in published materials, (c) generally known to the public through no
fault or breach by the receiving party, (d) lawfully obtained from any third
party who has a right to disclose such information and who provides it without
any obligation of confidentiality, or (e) required or reasonably advised to be
disclosed by law.

CONTENT. Text, images, video, audio (including, without limitation, music used
in time relation with text, images, or video), and other data, products,
services, advertisements, promotions, links, pointers, technology and software.

CUSTOMIZED SERVICE. The customized version of the CompuServe Service described
in Section 1 of this Agreement.

EFFECTIVE DATE means the date so defined in the Preamble.

                                       12
<PAGE>

INTERACTIVE SITE shall mean any interactive site and/or sites that are managed,
maintained or owned by or on behalf of POC and its respective agents that
provides and/or licenses information, Content or other materials.

INTERACTIVE SERVICE shall mean any entity offering one or more of the following:
(i) online or Internet connectivity services (e.g., an Internet service
provider); (ii) a broad selection of aggregated third party interactive content
(or navigation thereto) (e.g., an online service or search and directory
service); or (iii) communications software capable of serving as the principal
means through which a user creates, sends and receives electronic mail or real
time online messages.

INTERNET ACCESS shall mean online or Internet connectivity services.

LAUNCH DATE shall mean the date in which the operation of a Customized Service
becomes "live" and available for online access by a Subscriber, as described in
Section 3.1.

LINKED PAGES shall mean those pages of the POC Website that are linked directly
from the Customized Service.

MARKS shall mean the trade names, trademarks and service marks of POC or
CompuServe.

POC-HOSTED START PAGE shall mean the web page developed, published, maintained
and hosted by POC as its start page for the Customized Service as described in
Section 1 and EXHIBIT B of this Agreement.

POC WEBSITE shall mean any interactive site or area which is managed, maintained
or owned by POC or its agents or to which POC provides and/or licenses
information, Content or other materials, including, by way of example and
without limitation, (i) a POC site on the World Wide Web portion of the Internet
or (ii) a channel or area delivered through a "push" product such as the
Pointcast Network or interactive environment such as Microsoft's proposed
"Active Desktop."

SUBSCRIBERS shall mean any user who registers and becomes authorized to use any
version of the Customized Service, including any sub-accounts using any version
of the Customized Service under an authorized master account.

VIRTUAL LOCK SOFTWARE shall mean CompuServe's proprietary host-based software
that uses remote pass phrase authentication to authenticate CompuServe Members.

                                       13
<PAGE>

                                    EXHIBIT B
                                    ---------

                        PROGRAMMING OF CUSTOMIZED SERVICE

(a) POC MAIN MENU PAGE. POC shall use a web page developed, published,
maintained and hosted by it as the start page for the Customized Service (a
"POC-hosted Start Page"); provided that the POC-hosted Start Page must contain
CompuServe co-branding that is substantially similar to that provided on the
Main Menu of the standard CompuServe Service, and must contain prominent,
above-the-fold return navigational links to the Customized Service as shown in
Illustration No. 1 attached to this EXHIBIT B.

(b) POC-HOSTED START PAGE. POC shall be solely responsible for developing,
publishing, maintaining and hosting the POC-hosted Start Page, and CompuServe
shall have no operational responsibility with respect thereto.

(c) POC WEBSITE. Any web sites controlled or operated by POC (the "POC Website")
and all pages linked from the Customized Service ("Linked Pages") shall be
subject to CompuServe's standard terms and conditions, as set forth in the
definitive agreement (including, without limitation, CompuServe's Terms of
Service ("TOS"), advertising, marketing and content restrictions, navigational
requirements, hosting and access terms, technology compatibility, operating
standards and online commerce terms). CompuServe must pre-approve all content
partners of POC whose content will appear on or will be directly accessible from
the POC-hosted Start Page. The parties will mutually agree on the manner in
which CompuServe's approval will be given.

(c) CHANNEL TOP CUSTOMIZATION. POC may add content to the top page of two (2)
Channels on the CompuServe Service that are most contextually relevant to POC's
business, as determined in POC's reasonable discretion, by providing additive
links on such top page. Once POC has acquired 100,000 subscribers for the
Customized Service, the Parties may mutually agree on up to but not exceeding
two (2) additional channels in which POC can add content. The additional content
provided by POC must not exceed fifty percent (50%) of the above the fold
non-navigational area of such page (as viewable on an 800 x 600 pixel screen
without scrolling). Channels that cannot support this functionality include
news, weather, sports, international, local, movies and shopping. All POC
content will be subject to the column formatting requirements, vertical and
horizontal spacing requirements and publishing templates established by
CompuServe from time to time for any page of the CompuServe Service.

(d) PORTAL CUSTOMIZATION. CompuServe shall redirect the Internet Channel
navigation button on the Internet button on the CompuServe Software tool bar to
a customized version of CompuServe's standard CompuServe.com Internet gateway
top page ("Co-Branded Internet Gateway") as shown in Illustration No. 2 attached
to this EXHIBIT B. The domain for the Co-Branding Internet Gateway Partner will
be a URL hosted by CompuServe (e.g., compuserve.com/partner_nameonline). Such
URL will also be accessible from the World Wide Web.

 (e) SEARCH CUSTOMIZATION. CompuServe shall incorporate "Try These First" or
"Best Picks" functionality within the CompuServe search engine, for up to 10
keyword search terms to be provided by POC prior to the launch of the
Customizable Service. POC shall supply CompuServe with the applicable search
terms, descriptions and URL's in order to implement this functionality.

                                       14
<PAGE>

(f) STALE CONTENT. CompuServe can convert POC's Customized Service to a static
template if, within any six month period, there are at least three instances in
which POC publishes content to AOL that 1) contains broken links, 2) is not
formatted properly or 3) causes the page not to render properly on the
Customizable Service. The foregoing right will not apply if in CompuServe's
reasonable opinion, POC is taking reasonable steps to remedy the aforementioned
deficiencies.

                                       15
<PAGE>

                               Illustration No. 1

[GRAPHIC OMITTED]

                                       16
<PAGE>

[OBJECT OMITTED]

                               Illustration No. 2

                                       17
<PAGE>

                                    EXHIBIT C
                                    ---------

                STANDARD LEGAL AND OPERATING TERMS AND CONDITIONS

I.  INTELLECTUAL PROPERTY

LICENSE. CompuServe hereby grants POC a non-exclusive license to distribute and
promote the CompuServe Software and Documentation during the Term, solely to the
limited extent and for the express purposes contemplated hereunder.

LICENSE TO POC. Solely in connection with the marketing, promotion and
distribution obligations specified in this Agreement, and subject to the other
provisions of this Agreement, POC shall be entitled to use the Marks, provided
that POC (a) does not create a unitary composite mark involving a Mark without
the prior written approval of CompuServe; and (b) displays symbols and notices
clearly and sufficiently indicating the trademark status and ownership of the
Marks in accordance with applicable trademark law and practice. In using the
Marks, POC acknowledges and agrees that: (i) the Marks are and shall remain the
sole property of CompuServe; (ii) POC shall not now or in the future contest the
validity of the Marks; (iii) nothing in this Agreement shall confer in POC any
right of ownership in the Marks; and (iv) POC acknowledges that its utilization
of the Marks will not create in it, nor will it represent it has, any right,
title or interest in or to such Marks other than the licenses expressly granted
herein.

LICENSE TO COMPUSERVE. In designing and implementing the Customized Service and
any marketing, advertising, press releases or other promotional materials
related to this Agreement and/or referencing the other Party and/or its trade
names, trademarks and service marks (the "Promotional Materials") and subject to
the other provisions contained herein, CompuServe and its Affiliates shall be
entitled to use the trade names, trademarks and service marks of POC
(collectively, together with the CompuServe marks listed above, the "Marks");
provided that it (i) does not create a unitary composite mark involving a Mark
of the other Party without the prior written approval of such other Party and
(ii) displays symbols and notices clearly and sufficiently indicating the
trademark status and ownership of the other Party's Marks in accordance with
applicable trademark law and practice.

RIGHTS. Each Party acknowledges that its utilization of the other Party's Marks
will not create in it, nor will it represent it has, any right, title or
interest in or to such Marks other than the licenses expressly granted herein.
Each Party agrees not to do anything contesting or impairing the trademark
rights of the other Party.

QUALITY STANDARDS. Each Party agrees that the nature and quality of its products
and services supplied in connection with the other Party's Marks shall conform
to quality standards communicated in writing by the other Party for use of its
trademarks. Each Party agrees to supply the other Party, upon request, with a
reasonable number of samples of any Materials publicly disseminated by such
Party, which utilize the other Party's Marks. Each Party shall comply with all
applicable laws, regulations and customs and obtain any required government
approvals pertaining to use of the other Party's Marks.

PROMOTIONAL MATERIALS/PRESS RELEASES. Each Party will not use the other Party's
name in any advertising, publications, promotional material or publicity release
concerning the subject matter of this Agreement without the other Party's prior
written approval, which shall not be unreasonably withheld or delayed.

INFRINGEMENT PROCEEDINGS. Each Party agrees to promptly notify the other Party
of any unauthorized use of the other Party's Marks of which it has actual
knowledge. Each Party shall have the sole right and discretion to bring
proceedings alleging infringement of its Marks or unfair competition related
thereto; provided, however, that each Party agrees to provide the other Party,
at such other Party's expense, with its reasonable cooperation and assistance
with respect to any such infringement proceedings.

II.  POC WEBSITE.

CONTENT. POC represents and warrants that all Content contained within the
Linked Pages, the POC-hosted Start Page, and such other Content published by POC
on the Customized Service (i) will conform to, the terms of this Agreement, (ii)
do not and will not knowingly infringe on or violate any copyright, trademark,
U.S. patent or any other third party right, including without limitation, any
music performance or other music related rights, and (iii) do not and will not
knowingly contain any Content which violates any applicable law or regulation
(collectively, the "Rules"). In the event that CompuServe notifies POC in
writing that any such Content, as reasonable determined by CompuServe, does not
comply or adhere to the Rules, then POC shall use its best efforts to block
access by CompuServe Members to such Content. In the event that POC cannot,
through its best efforts, block access by CompuServe Members to such Content in
question, and then POC shall provide CompuServe prompt written notice of such
fact. CompuServe may then, at its option, either (i) restrict access from the
CompuServe Network to the Content in question using technology available to
CompuServe or (ii) in the event access cannot be restricted, direct POC to
remove any such Content until such time as the Content in question is no longer
displayed. POC will cooperate with CompuServe's reasonable requests to the
extent CompuServe elects to implement any such access restrictions.

MANAGEMENT. POC shall design, create, edit, manage, update and maintain the
POC-hosted Start Page and the POC Website. CompuServe shall have no obligation
of any kind with respect to the POC Website.

CONTESTS. POC shall ensure that any contest, sweepstakes or similar promotion
conducted or promoted through the POC Website on a POC-hosted Start Page or
Linked Page (a "Contest") complies with all applicable laws and regulations.

DISCLAIMERS. Upon CompuServe's request, POCagrees to include within the POC
Website a disclaimer (the specific form and substance to be mutually agreed upon
by the Parties) indicating that all Content (including any products and
services) is provided solely by POC and not CompuServe and any transactions are
solely between POC and CompuServe Members using or purchasing such Content.

                                       18
<PAGE>

III.  OPERATING STANDARDS

INTERACTIVE SITE INFRASTRUCTURE. POC will be responsible for all communications,
hosting and connectivity costs and expenses associated with the POC-hosted Start
Page and POC Website. POC will provide all hardware, software,
telecommunications lines and other infrastructure necessary to meet traffic
demands on the POC-hosted Start Page and POC Website from the CompuServe
Network.

OPTIMIZATION; SPEED. POC will use commercially reasonable efforts to ensure
that: (a) the functionality and features within the POC Website and POC-hosted
Start Page are optimized for the client software then in use by CompuServe
Members; and (b) the POC Website is designed and populated in a manner that
minimizes delays when CompuServe Members attempt to access such site.

TECHNICAL PROBLEMS. POC agrees to use commercially reasonable efforts to address
material technical problems (over which POC exercises control) affecting use by
Subscribers of the POC-hosted Start Page and the POC Website (an "POC Technical
Problem") promptly following notice thereof. In the event that POC is unable to
promptly resolve an POC Technical Problem following notice thereof from
CompuServe (including, without limitation, infrastructure deficiencies producing
user delays), CompuServe will have the right to regulate the promotions it
provides to POC hereunder until such time as POC corrects the POC Technical
Problem at issue.

MONITORING. POC will ensure that the performance and availability of the
POC-hosted Start Page and POC Website are monitored on a continuous (24 X 7)
basis. The following POC contact persons shall be available on a continuous
(24x7) basis to CompuServe in case CompuServe is notified of a problem involving
the POC-hosted Start Page or the POC Website: Kathleen McQuaid. POC will provide
CompuServe no later than ten (10) days' prior to the Launch Date with contact
information (including e-mail, phone, pager and fax information, as applicable,
for both during and after business hours) for POC 's principal business and
technical representatives, for use in cases when issues or problems arise with
respect to the POC-hosted Start Page, Content published by POC on the Customized
Service, the Linked Pages and the POC Website.

SECURITY. POC will utilize Internet standard encryption technologies (e.g.,
Secure Socket Layer - SSL) to provide a secure environment for conducting
transactions and/or transferring private member information (e.g. credit card
numbers, banking/financial information, and member address information) to and
from the POC-hosted Start Page and the POC Website. POC will facilitate periodic
reviews of the POC-hosted Start Page and the POC Website by CompuServe in order
to evaluate the security risks of such site. POC will promptly remedy any
security risks or breaches of security as may be identified by CompuServe's
Operations Security team.

TECHNICAL PERFORMANCE.

     i. POC will design the POC-hosted Start Page and POC Website to support the
     CompuServe-Client embedded versions of the Microsoft Internet Explorer 3.0,
     4.0 and 5.0 browsers (Windows and Macintosh).

     ii. Prior to releasing material, new functionality or features through the
     POC-hosted Start Page and POC Website ("New Functionality"), POC will use
     commercially reasonable efforts to either (i) test the New Functionality to
     confirm its compatibility with CompuServe Service client software or (ii)
     provide CompuServe with written notice of the New Functionality so that
     CompuServe can perform tests of the New Functionality to confirm its
     compatibility with the CompuServe Service client software.

COMPUSERVE INTERNET SERVICES PARTNER SUPPORT. CompuServe will provide POC with
access to the standard online resources, standards and guidelines documentation,
technical phone support, monitoring and after-hours assistance that CompuServe
makes generally available to similarly situated web-based partners. CompuServe
support will not, in any case, be involved with content creation on behalf of
POC or support for any technologies, databases, software or other applications
which are not supported by CompuServe or are related to any POC area other than
the POC Website. Support to be provided by CompuServe is contingent on POC
providing to CompuServe demo account information (where applicable), a detailed
description of the POC Website's software, hardware and network architecture and
access to the POC Interactive Site for purposes of such performance and the
coordination load testing as CompuServe elects to conduct.

IV.  ADVERTISING

ADVERTISING SPACE. CompuServe owns all right, title and interest in and to the
advertising and promotional spaces within the CompuServe Network (including,
without limitation, advertising and promotional spaces on any Welcome Mat,
CompuServe forms or pages preceding or framing the POC-hosted Start Page and POC
Website and any CompuServe pages on which POC-hosted Start Page resides). The
specific advertising inventory within any such CompuServe forms or pages shall
be as reasonably determined by CompuServe. POC owns all right, title and
interest in and to the advertising and promotional spaces within the POC
Website. The Party that owns the right, title and interest in and to the
advertising and promotional space within any form, page or area shall have the
exclusive right (as between the Parties) to sell promotions, advertisements,
sponsorships, links, pointers or similar services or rights (collectively,
"Advertisements") in and through such form, page or area, except to the extent
such Party has herein expressly granted the other Party a right to sell
Advertisements in and through such form, page or area.

V. COMPUSERVE SERVICE.

COMPUSERVE LOOK AND FEEL. POC acknowledges and agrees that CompuServe shall own
all right, title and interest in and to the CompuServe Look and Feel. In
addition, CompuServe shall retain editorial control over the portions of the
CompuServe pages and forms that frame the POC-hosted Start Page and any Linked
Pages (the "CompuServe Frames"). CompuServe may, at its discretion, incorporate
navigational icons, links and pointers or other Content into such CompuServe
Frames.

OPERATIONS. CompuServe shall be entitled to require reasonable changes to the
POC-hosted Start Page to the extent such site will, in CompuServe's good faith
judgment, adversely affect operations of the CompuServe Network.

                                       19
<PAGE>

VI.  MUTUAL OBLIGATIONS.

DUTY TO INFORM. Each Party shall promptly inform the other of any information
related to the Customized Service that could reasonably lead to a claim, demand
or liability of or against the other Party and/or its Affiliates by any third
party.

RESPONSE TO QUESTIONS/COMMENTS; CUSTOMER SERVICE. POC shall respond promptly and
professionally to questions, comments, complaints and other reasonable requests
regarding the POC Website and the POC-hosted Start Page by Subscribers or on
request by CompuServe, and shall cooperate and assist CompuServe in promptly
answering the same. CompuServe shall respond promptly and professionally to
questions, comments, complaints and other reasonable requests regarding access
to the Customized Service by Subscribers or on request by POC, and shall
cooperate and assist POC in promptly answering the same.

PRODUCTION WORK. In the event that POC requests any CompuServe production
assistance, POC shall work with CompuServe to develop detailed production plans
for the requested production assistance (the "Production Plan"). Following
receipt of the final Production Plan, CompuServe shall notify POC of (i)
CompuServe's availability to perform the requested production work, (ii) the
proposed fee or fee structure for the requested production and maintenance work
and (iii) the estimated development schedule for such work. To the extent the
Parties reach agreement regarding implementation of agreed-upon Production Plan,
such agreement shall be reflected in a separate work order signed by the
Parties. To the extent POC elects to retain a third party provider to perform
any such production work, work produced by such third party provider must
generally conform to CompuServe's production Standards & Practices (a copy of
which will be supplied by CompuServe to POC upon request). The specific
production resources which CompuServe allocates to any production work to be
performed on behalf of POC shall be as determined by CompuServe in its sole
discretion.

TRAINING AND SUPPORT. At the request of POC, CompuServe shall make available to
POC standard CompuServe training and support programs necessary to produce any
CompuServe areas hereunder. POC can select its training and support program from
the options then offered by CompuServe. POC shall be responsible to pay the fees
associated with its chosen training and support package as mutually agreed to by
the Parties. In addition, POC will pay travel and lodging costs associated with
its participation in any CompuServe training programs (including CompuServe's
travel and lodging costs when training is conducted at POC 's offices).

LAUNCH DATE. In the event that any terms contained herein relate to or depend on
the launch date of the online area or other property contemplated by this
Agreement, which launch date is later than the Effective Date, then it is the
intention of the Parties to record such launch date in a written instrument
signed by both Parties promptly following such launch date; provided that, in
the absence of such a written instrument, the launch date shall be as reasonably
determined by CompuServe based on the information available to CompuServe.

VII.  REPRESENTATIONS AND WARRANTIES

Each Party represents and warrants to the other Party that: (i) such Party has
the full corporate right, power and authority to enter into this Agreement, to
grant the licenses granted hereunder and to perform the acts required of it
hereunder; (ii) the execution of this Agreement by such Party, and the
performance by such Party of its obligations and duties hereunder, do not and
will not violate any agreement to which such Party is a party or by which it is
otherwise bound; (iii) when executed and delivered by such Party, this Agreement
will constitute the legal, valid and binding obligation of such Party,
enforceable against such Party in accordance with its terms; (iv) such Party's
Promotional Materials will neither infringe on any copyright, U.S. patent or any
other third party right nor violate any applicable law or regulation and (v)
such Party acknowledges that the other Party makes no representations,
warranties or agreements related to the subject matter hereof which are not
expressly provided for in this Agreement.

VIII.  CONFIDENTIALITY

Each Party acknowledges that Confidential Information may be disclosed to the
other Party during the course of this Agreement. Each Party agrees that it will
take reasonable steps, at least substantially equivalent to the steps it takes
to protect its own proprietary information, during the term of this Agreement,
and for a period of three years following expiration or termination of this
Agreement, to prevent the duplication or disclosure of Confidential Information
of the other Party, other than by or to its employees or agents who must have
access to such Confidential Information to perform such Party's obligations
hereunder, who will each agree to comply with this section. Notwithstanding the
foregoing, either Party may issue a press release or other disclosure containing
Confidential Information without the consent of the other Party, to the extent
such disclosure is required by law, rule, regulation or government or court
order. In such event, the disclosing Party will provide at least five- (5)
business day's prior written notice of such proposed disclosure to the other
Party. Further, in the event such disclosure is required of either Party under
the laws, rules or regulations of the Securities and Exchange Commission or any
other applicable governing body, such Party will (i) redact mutually agreed-upon
portions of this Agreement to the fullest extent permitted under applicable
laws, rules and regulations and (ii) submit a request to such governing body
that such portions and other provisions of this Agreement receive confidential
treatment under the laws, rules and regulations of the Securities and Exchange
Commission or otherwise be held in the strictest confidence to the fullest
extent permitted under the laws, rules or regulations of any other applicable
governing body.

IX.  RELATIONSHIP WITH COMPUSERVE MEMBERS

SOLICITATION OF SUBSCRIBERS. During the Term and for the one-year period
following the expiration or termination of this Agreement, neither POC nor its
agents will use the CompuServe Network to (i) solicit or participate in the
solicitation of CompuServe Members when that solicitation is for the benefit of
any entity (including POC ) which could reasonably be construed to be or become
in competition with CompuServe or (ii) promote any services which could
reasonably be construed to be in competition with services available through
CompuServe including, but not limited to, services available through the
Internet. POC may not send any CompuServe Member unsolicited e-mail
communications on or through the CompuServe Network without a "Prior Business
Relationship." For purposes of this Agreement, a "Prior Business Relationship"
shall mean that the CompuServe Member has either (i) purchased Products from POC
through the CompuServe Network or (ii) voluntarily provided information to POC

                                       20
<PAGE>

through a contest, registration, or other communication, which included clear
and conspicuous notice to the CompuServe Member that the information provided by
the CompuServe Member could result in an e-mail being sent to that CompuServe
Member by POC or its agents. In any commercial e-mail communications to
CompuServe Members, which are otherwise permitted hereunder, POC shall provide
the recipient with a prominent and easy means to "opt-out" of receiving any
future commercial e-mail communications from POC .

COLLECTION OF MEMBER INFORMATION. POC is prohibited from collecting CompuServe
Member screennames from public or private areas of the CompuServe Network,
except as specifically provided below. POC shall ensure that any survey,
questionnaire or other means of collecting Member Information including, without
limitation, requests directed to specific CompuServe Member screennames and
automated methods of collecting screennames (an "Information Request") complies
with (i) all applicable laws and regulations, (ii) CompuServe's applicable
Member Agreement, and (iii) any privacy policies which have been issued by
CompuServe in writing during the Term (or, in the case of the POC Website, POC
's standard privacy policies, to the extent such policies are prominently
published on the site and provide adequate notice and disclosure to users
regarding POC 's collection, use and disclosure of any user information)
(collectively, the "Applicable Privacy Policies"). Each Information Request
shall clearly and conspicuously specify to the CompuServe Members at issue the
purpose for which Member Information collected through the Information Request
shall be used (the "Specified Purpose"). POC represents and warrants that the
privacy policy contained on the POC Website meet the criteria created by the
Online Privacy Coalition.

USE OF MEMBER INFORMATION. POC shall restrict use of the Member Information
collected through an Information Request to the Specified Purpose. In no event
shall POC (i) provide CompuServe Member names, screennames, addresses or other
identifying information ("Member Information") to any third party (except to the
extent specifically (a) permitted under the Applicable Privacy Policies or (b)
authorized by the CompuServe Members in question) or (ii) otherwise use any
Member Information in contravention of the above section regarding "Solicitation
of Members."

EMAIL NEWSLETTERS. Any email newsletters sent to CompuServe Members by POC or
its agents shall (i) be subject to CompuServe's policies on use of the email
functionality, including but not limited to CompuServe's policy on unsolicited
bulk email, (ii) be sent only to CompuServe Members requesting to receive such
newsletters, (iii) not contain Content which violates CompuServe's Member
Agreement, and (iv) not contain any advertisements, marketing or promotion for
any entity reasonably construed by CompuServe to be in competition with
CompuServe.

X.  TREATMENT OF CLAIMS

LIABILITY. UNDER NO CIRCUMSTANCES SHALL EITHER PARTY BE LIABLE TO THE OTHER
PARTY FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR EXEMLARY DAMAGES (EVEN
IF THAT PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), ARISING FROM
BREACH OF THIS AGREEMENT, THE USE OF OR INABILITY TO USE THE COMPUSERVE NETWORK
OR ANY OTHER PROVISION OF THIS AGREEMENT, SUCH AS, BUT NOT LIMITED TO, LOSS OF
REVENUE OR ANTICIPATED PROFITS OR LOST BUSINESS (COLLECTIVELY, "DISCLAIMED
DAMAGES"); PROVIDED THAT EACH PARTY SHALL REMAIN LIABLE TO THE OTHER PARTY TO
THE EXTENT ANY DISCLAIMED DAMAGES ARE CLAIMED BY A THIRD PARTY AND ARE SUBJECT
TO INDEMNIFICATION BELOW. EXCEPT AS PROVIDED BELOW IN THE "INDEMNITY" SECTION,
NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR MORE THAN THE AGGREGATE
AMOUNTS PAYABLE HEREUNDER IN THE YEAR IN WHICH LIABILITY ACCRUED; PROVIDED THAT
EACH PARTY SHALL REMAIN LIABLE FOR THE AGGREGATE AMOUNT OF ANY PAYMENT
OBLIGATIONS OWED TO THE OTHER PARTY UNDER THE PROVISIONS OF THIS AGREEMENT.

NO ADDITIONAL WARRANTIES. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT,
NEITHER PARTY MAKES, AND EACH PARTY HEREBY SPECIFICALLY DISCLAIMS, ANY
REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE PRODUCTS, THE
COMPUSERVE NETWORK, THE COMPUSERVE SOFTWARE OR DOCUMENTATION, INCLUDING ANY
IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE AND
IMPLIED WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE.
WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, COMPUSERVE SPECIFICALLY
DISCLAIMS ANY WARRANTY REGARDING THE PROFITABILITY OF COMPUSERVE NETWORK OR THE
NATIONAL ISP SERVICE.

INDEMNITY. Either Party will defend, indemnify, save and hold harmless the other
Party and the officers, directors, agents, affiliates, distributors, franchisees
and employees of the other Party from any and all third party claims, demands,
liabilities, costs or expenses, including reasonable attorneys' fees
("Liabilities"), resulting from the indemnifying Party's breach of any duty,
representation, or warranty of this Agreement.

If a Party entitled to indemnification hereunder (the "Indemnified Party")
becomes aware of any matter it believes is indemnifiable hereunder involving any
claim, action, suit, investigation, arbitration or other proceeding against the
Indemnified Party by any third party (each an "Action"), the Indemnified Party
shall give the other Party (the "Indemnifying Party") prompt written notice of
such Action. Such notice shall (i) provide the basis on which indemnification is
being asserted and (ii) be accompanied by copies of all relevant pleadings,
demands, and other papers related to the Action and in the possession of the
Indemnified Party. The Indemnifying Party shall have a period of twenty (20)
days after delivery of such notice to respond. If the Indemnifying Party elects
to defend the Action or does not respond within the requisite twenty (20) day
period, the Indemnifying Party shall be obligated to defend the Action, at its
own expense, and by counsel reasonably satisfactory to the Indemnified Party.
The Indemnified Party shall cooperate, at the expense of the Indemnifying Party,
with the Indemnifying Party and its counsel in the defense and the Indemnified
Party shall have the right to participate fully, at its own expense, in the
defense of such Action. If the Indemnifying Party responds within the required

                                       21
<PAGE>

twenty (20) day period and elects not to defend such Action, the Indemnified
Party shall be free, without prejudice to any of the Indemnified Party's rights
hereunder, to compromise or defend (and control the defense of) such Action. In
such case, the Indemnifying Party shall cooperate, at its own expense, with the
Indemnified Party and its counsel in the defense against such Action and the
Indemnifying Party shall have the right to participate fully, at its own
expense, in the defense of such Action. Any compromise or settlement of an
Action shall require the prior written consent of both Parties hereunder, such
consent not to be unreasonably withheld or delayed.

ACKNOWLEDGMENT. COMPUSERVE AND POC EACH ACKNOWLEDGES THAT THE PROVISIONS OF THIS
AGREEMENT WERE NEGOTIATED TO REFLECT AN INFORMED, VOLUNTARY ALLOCATION BETWEEN
THEM OF ALL RISKS (BOTH KNOWN AND UNKNOWN) ASSOCIATED WITH THE TRANSACTIONS
CONTEPOC LATED HEREUNDER. THE LIMITATIONS AND DISCLAIMERS RELATED TO WARRANTIES
AND LIABILITY CONTAINED IN THIS AGREEMENT ARE INTENDED TO LIMIT THE
CIRCUMSTANCES AND EXTENT OF LIABILITY. THE PROVISIONS OF THIS SECTION VI SHALL
BE ENFORCEABLE INDEPENDENT OF AND SEVERABLE FROM ANY OTHER ENFORCEABLE OR
UNENFORCEABLE PROVISION OF THIS AGREEMENT.

XI.  ARBITRATION

(a) The Parties shall act in good faith and use commercially reasonable efforts
to promptly resolve any claim, dispute, claim, controversy or disagreement (each
a "Dispute") between the Parties or any of their respective subsidiaries,
affiliates, successors and assigns under this Agreement or any document executed
pursuant to this Agreement. If the Parties cannot resolve the Dispute promptly,
the Dispute shall be submitted to the Management Committee for resolution. For
ten (10) days after the Dispute was submitted to the Management Committee, the
Management Committee shall have the exclusive right to resolve such Dispute;
provided further that the Management Committee shall have the final and
exclusive right to resolve Disputes arising from any provision of the Agreement
which expressly or implicitly provides for the Parties to reach mutual agreement
as to certain terms. "Management Committee" shall mean a committee made up of a
senior executive from each of the Parties for the purpose of resolving Disputes
under this Section and generally overseeing the relationship between the Parties
contemplated by this Agreement. Neither Party shall seek, nor shall be entitled
to seek, binding outside resolution of the Dispute unless and until the Parties
have been unable to amicably resolve the dispute as set forth in this paragraph
(a) and then, only in compliance with the procedures set forth in this Section.

(b) Except for Disputes relating to issues of (i) proprietary rights, including
but not limited to intellectual property and confidentiality, and (ii) any
provision of the Agreement which expressly or implicitly provides for the
Parties to reach mutual agreement as to certain terms (which shall be resolved
by the Parties solely and exclusively through amicable resolution as set forth
in paragraph (a), any Dispute not resolved by amicable resolution as set forth
in paragraph (a) shall be governed exclusively and finally by arbitration. Such
arbitration shall be conducted by the American Arbitration Association ("AAA")
in Washington, D.C. and shall be initiated and conducted in accordance with the
Commercial Arbitration Rules ("Commercial Rules") of the AAA, including the AAA
Supplementary Procedures for Large Complex Commercial Disputes ("Complex
Procedures"), as such rules shall be in effect on the date of delivery of a
demand for arbitration ("Demand"), except to the extent that such rules are
inconsistent with the provisions set forth herein. Notwithstanding the
foregoing, the Parties may agree in good faith that the Complex Procedures shall
not apply in order to promote the efficient arbitration of Disputes where the
nature of the Dispute, including without limitation the amount in controversy,
does not justify the application of such procedures.

(c) The arbitration panel shall consist of three arbitrators. Each Party shall
name an arbitrator within ten (10) days after the delivery of the Demand. The
two arbitrators named by the Parties may have prior relationships with the
naming Party, which in a judicial setting would be considered a conflict of
interest. The third arbitrator, selected by the first two, should be a neutral
participant, with no prior working relationship with either Party. If the two
arbitrators are unable to select a third arbitrator within ten (10) days, a
third neutral arbitrator will be appointed by the AAA from the panel of
commercial arbitrators of any of the AAA Large and Complex Resolution Programs.
If a vacancy in the arbitration panel occurs after the hearings have commenced
the remaining arbitrator or arbitrators may not continue with the hearing and
determination of the controversy, unless the Parties agree otherwise.

(d) The Federal Arbitration Act, 9 U.S.C. Secs. 1-16, and not state law, shall
govern the arbitrability of all Disputes. The arbitrators shall allow such
discovery as is appropriate to the purposes of arbitration in accomplishing a
fair, speedy and cost-effective resolution of the Disputes. The arbitrators
shall reference the Federal Rules of Civil Procedure then in effect in setting
the scope and timing of discovery. The Federal Rules of Evidence shall apply IN
TOTO. The arbitrators may enter a default decision against any Party who fails
to participate in the arbitration proceedings.

(e) The arbitrators shall have the authority to award compensatory damages only.
Any award by the arbitrators shall be accompanied by a written opinion setting
forth the findings of fact and conclusions of law relied upon in reaching the
decision. The award rendered by the arbitrators shall be final, binding and
non-appealable, and judgment upon such award may be entered by any court of
competent jurisdiction. The Parties agree that the existence, conduct and
content of any arbitration shall be kept confidential and no Party shall
disclose to any person any information about such arbitration, except as may be
required by law or by any governmental authority or for financial reporting
purposes in each Party's financial statements.

(f) Each Party shall pay the fees of its own attorneys, expenses of witnesses
and all other expenses and costs in connection with the presentation of such
Party's case (collectively, "Attorneys' Fees"). The remaining costs of the
arbitration, including without limitation, fees of the arbitrators, costs of
records or transcripts and administrative fees (collectively, "Arbitration
Costs") shall be born equally by the parties. Notwithstanding the foregoing, the
arbitrators may modify the allocation of Arbitration Costs and award Attorneys'
Fees in those cases where fairness dictates a different allocation of
Arbitration Costs between the Parties and an award of Attorneys' Fees to the
prevailing Party as determined by the arbitrators.

(g) Any Dispute that is not subject to final resolution by the Management
Committee or to arbitration under this Section or law (collectively,
"Non-Arbitration Claims") shall be brought in a court of competent jurisdiction.
Each Party irrevocably consents to the non-exclusive jurisdiction of the courts
of the State of Ohio and the federal courts situated in the State of Ohio, over
any and all Non-Arbitration Claims and any and all actions to enforce such
claims or to recover damages or other relief in connection with such claims.

                                       22
<PAGE>

XII.  MISCELLANEOUS

EXCUSE. Neither Party shall be liable for, or be considered in breach of or
default under this Agreement on account of, any delay or failure to perform as
required by this Agreement as a result of any causes or conditions which are
beyond such Party's reasonable control and which such Party is unable to
overcome by the exercise of reasonable diligence.

INDEPENDENT CONTRACTORS. The Parties to this Agreement are independent
contractors. Neither Party is an agent, representative or partner of the other
Party. Neither Party shall have any right, power or authority to enter into any
agreement for or on behalf of, or incur any obligation or liability of, or to
otherwise bind, the other Party. This Agreement shall not be interpreted or
construed to create an association, agency, joint venture or partnership between
the Parties or to impose any liability attributable to such a relationship upon
either Party.

NOTICE. Any notice, approval, request, authorization, direction or other
communication under this Agreement will be given in writing and will be deemed
to have been delivered and given for all purposes (i) on the delivery date if
delivered by electronic mail on the CompuServe Network in the case of
CompuServe) or by confirmed facsimile; (ii) on the delivery date if delivered
personally to the Party to whom the same is directed; (iii) one business day
after deposit with a commercial overnight carrier, with written verification of
receipt; or (iv) five business days after the mailing date, whether or not
actually received, if sent by U.S. mail, return receipt requested, postage and
charges prepaid, or any other means of rapid mail delivery for which a receipt
is available. In the case of CompuServe, such notice will be provided to the
Associate General Counsel (fax no. 614-457-9665), at the address of CompuServe
set forth in the first paragraph of this Agreement. In the case of POC, except
as otherwise specified herein, the notice address shall be the address for POC
set forth in the first paragraph of this Agreement, with the other relevant
notice information, including the recipient for notice and, as applicable, such
recipient's fax number or CompuServe e-mail address, to be as reasonably
identified by CompuServe.

CONTACT PERSONS. Upon execution of this Agreement, the following persons shall
be deemed the primary contact persons for purposes of completing and executing
the terms of this Agreement: CompuServe--Kevin Dwinnell (614-538-4131) and
DME/POC--Darien Dash (201-816-1285).

NO WAIVER. The failure of either Party to insist upon or enforce strict
performance by the other Party of any provision of this Agreement or to exercise
any right under this Agreement shall not be construed as a waiver or
relinquishment to any extent of such Party's right to assert or rely upon any
such provision or right in that or any other instance; rather, the same shall be
and remain in full force and effect.

RETURN OF INFORMATION. Upon the expiration or termination of this Agreement,
each Party shall, upon the written request of the other Party, return or destroy
(at the option of the Party receiving the request) all confidential information,
documents, manuals and other materials specified the other Party.

SURVIVAL. Sections VI, VII, VIII IX, X, XI and XII of this Exhibit shall survive
the completion, expiration, termination or cancellation of this Agreement.

ENTIRE AGREEMENT. This Agreement sets forth the entire agreement and supersedes
any and all prior agreements of the Parties with respect to the transactions set
forth herein. Neither Party shall be bound by, and each Party specifically
objects to, any term, condition or other provision which is different from or in
addition to the provisions of this Agreement (whether or not it would materially
alter this Agreement) and which is proffered by the other Party in any
correspondence or other document, unless the Party to be bound thereby
specifically agrees to such provision in writing.

AMENDMENT. No change, amendment or modification of any provision of this
Agreement shall be valid unless set forth in a written instrument signed by the
Party subject to enforcement of such amendment.

FURTHER ASSURANCES. Each Party shall take such action (including, but not
limited to, the execution, acknowledgment and delivery of documents) as may
reasonably be requested by any other Party for the implementation or continuing
performance of this Agreement.

ASSIGNMENT. Neither Party shall assign this Agreement or any right, interest or
benefit under this Agreement without the prior written consent of the other
Party. Assumption of the Agreement by any successor to POC (including, without
limitation, by way of merger or consolidation) shall be subject to CompuServe's
prior written approval. Subject to the foregoing, this Agreement shall be fully
binding upon, inure to the benefit of and be enforceable by the Parties hereto
and there respective successors and assigns. Notwithstanding the above, either
Party may assign this Agreement in the event of a merger, a sale of
substantially all of the Party's business, assets or stock provided, however,
that the successor in interest shall be liable to the other Party of all
obligations under this Agreement.

CONSTRUCTION; SEVERABILITY. In the event that any provision of this Agreement
conflicts with the law under which this Agreement is to be construed or if any
such provision is held invalid by a court with jurisdiction over the Parties to
this Agreement, (i) such provision shall be deemed to be restated to reflect as
nearly as possible the original intentions of the Parties in accordance with
applicable law, and (ii) the remaining terms, provisions, covenants and
restrictions of this Agreement shall remain in full force and effect.

REMEDIES. Except where otherwise specified, the rights and remedies granted to a
Party under this Agreement are cumulative and in addition to, and not in lieu
of, any other rights or remedies which the Party may possess at law or in
equity.

APPLICABLE LAW; JURISDICTION. This Agreement shall be interpreted, construed and
enforced in all respects in accordance with the laws of the State of Ohio except
for its conflicts of laws principles. Each Party irrevocably consents to the
non-exclusive jurisdiction of the courts of the State of Ohio and the federal
courts situated in the State of Ohio, in connection with any action to enforce
the provisions of this Agreement, to recover damages or other relief for breach
or default under this Agreement, or otherwise arising under or by reason of this
Agreement.

                                       23
<PAGE>

EXPORT CONTROLS. Both parties shall adhere to all applicable laws, regulations
and rules relating to the export of technical data and shall not export or
re-export any technical data, any products received from the other Party or the
direct product of such technical data to any proscribed country listed in such
applicable laws, regulations and rules unless properly authorized.

HEADINGS. The captions and headings used in this Agreement are inserted for
convenience only and shall not affect the meaning or interpretation of this
Agreement.

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

                                       24
<PAGE>

                                    EXHIBIT D
                                    ---------

                     HOUSE ADVERTISING SUPPRESSION CRITERIA
                     --------------------------------------

ACTIVES
-------

Single Family Dwelling Unit (SFDU):         address only

Multiple Family Dwelling Unite (MFDU):      last name and address

Business Address (BA) :                     last name and address

CANCELS

SFDU:    last name and address

MFDU:    last name and address

BA:      last name and address

GENERAL
-------

Names will be suppressed in the following order: (i) AOL actives (with the most
recent joins within this group suppressed first); (ii) AOL cancels (with the
most recent cancels within this group suppressed first); (iii) CompuServe
actives (with the most recent joins within this group suppressed first); and
(iv) CompuServe cancels (with the most recent cancels within this group
suppressed first).

                                    EXHIBIT E
                                    ---------

                   INVESTOR RIGHTS AGREEMENT (To be provided)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00002-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00002-of-00352.parquet"}]]