Document:

<PAGE>

                                 EXHIBIT 4.8

NEITHER THIS WARRANT NOR THE SHARE PURCHASE WARRANTS ISSUABLE UPON THE
EXERCISE OF THIS WARRANT HAVE BEEN QUALIFIED UNDER THE SECURITIES LAWS OF ANY
OF THE PROVINCES OF CANADA. FOR THE PURPOSES OF THE SECURITIES ACT (BRITISH
COLUMBIA) THIS WARRANT AND THE SHARE PURCHASE WARRANTS ISSUABLE UPON THE
EXERCISE OF THIS WARRANT ARE SUBJECT TO A HOLD PERIOD AND MAY NOT BE TRADED
IN BRITISH COLUMBIA UNTIL AFTER THE EXPIRY OF THE HOLD PERIOD, EXCEPT AS
PERMITTED BY THE SECURITIES ACT (BRITISH COLUMBIA) AND REGULATIONS MADE
THEREUNDER.

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES ACT OF ANY STATE (COLLECTIVELY,
THE "SECURITIES LAWS"). THEY MAY NOT BE SOLD OR OFFERED FOR SALE IN THE
ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES LAWS OR
AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES THAT AN
EXEMPTION UNDER THE SECURITIES LAWS IS AVAILABLE AND THAT SUCH REGISTRATION
IS NOT REQUIRED.

                     MDU COMMUNICATIONS INTERNATIONAL, INC.
                            (a Delaware corporation)

THIS IS TO CERTIFY THAT for value received HAYWOOD SECURITIES INC. (the
"Holder") is entitled to acquire from MDU COMMUNICATIONS INTERNATIONAL, INC.
(the "Company") for no additional consideration and in the manner and subject
to the restrictions and adjustments set forth herein, one non-transferable
common share purchase warrant (the "Agent's Underlying Warrant") in the form
attached hereto as Exhibit "A".

The warrants ("Warrants") represented by this certificate may be exercised,
at any time and from time to time (the "Exercise Period") commencing on the
date hereof and ending at 4:00 p.m. (Vancouver time) (the "Time of Expiry")
on the date that is the earlier of: (i) the fifth business day following the
day (the "Qualification Date") on which a receipt for a (final) prospectus
filed by the Company with respect to the distribution of, among other
securities, the Agent's Underlying Warrant issuable upon exercise of the
Warrants has been obtained from the British Columbia Securities Commission;
and (ii) the first anniversary of the date hereof. If the Warrants have not
been so exercised during the Exercise Period, the Warrants will be deemed to
have been exercised by the Holder (without any further action on the part of
the Holder or the Company) immediately prior to the Time of Expiry. Upon the
exercise or deemed exercise of the rights represented by this certificate in
accordance with the terms hereof, the Agent's Underlying Warrant shall be
deemed to have been issued and the Holder shall be deemed to have become the
holder of record of such securities on the date of such exercise or deemed
exercise.

<PAGE>
                                       2

The Warrants may be exercised by the Holder, in whole or in part, by surrender
of this certificate at the office of the Company at 108 - 11951 Hammersmith Way,
Richmond, B.C. V7A 5H9 during its normal business hours, together with the
Notice of Exercise attached hereto completed and signed by the Holder. Surrender
of this certificate will be deemed to have been effected only on personal
delivery thereof to, or, if sent by mail or other means of transmission, on
actual receipt thereof by, the Company at the office specified above.

In the event of any exercise, deemed or otherwise, of the Warrants, a
certificate representing the Agent's Underlying Warrants shall be delivered to
the Holder within a reasonable time, not exceeding two business days after the
Warrants have been duly exercised and this certificate has been surrendered to
the Company.

                   THE FOLLOWING ARE THE TERMS AND CONDITIONS
                     REFERRED TO IN THIS WARRANT CERTIFICATE

1.   COVENANTS OF THE COMPANY. The Company covenants that:

(a)  the Common Shares issuable upon the due exercise of the Agent's Underlying
     Warrant will, upon issuance, be fully paid and non-assessable and free of
     all liens, charges and encumbrances; and

(b)  during the period within which the Warrants may be exercised, the Company
     will at all times have authorized and reserved, a sufficient number of
     Common Shares to provide for the exercise of the Agent's Underlying
     Warrant.

2.   EXPIRATION OF WARRANTS. On and after the date of exercise or deemed
exercise of the Warrants, the Holder will have no rights hereunder except to
receive, upon surrender of this certificate to the Company, a certificate
representing the Agent's Underlying Warrant.

3.   DENOMINATIONS. On presentation at the principal office of the Company in
Richmond, British Columbia, this certificate may be exchanged for one or more
certificates of different denominations evidencing in the aggregate the same
number of Warrants as the certificate being exchanged.

4.   NO RIGHTS AS COMMON SHAREHOLDER. The holding of this certificate will not
constitute the Holder as a shareholder of the Company or entitle him to any
right or interest in respect thereof except as otherwise provided herein.

5.   NOTICE. Any notice or other communication required to be given to the
Holder under this Warrant shall be delivered or telecopied as follows:

         Haywood Securities Inc.
         11th Floor Commerce Place
         400 Burrard Street
         Vancouver, B.C.  V6C 3A6

         Attention: Mr. Fabio Banducci

         Telecopy No.      (604) 643-2305

<PAGE>
                                       3

ANY NOTICE OR OTHER COMMUNICATION SO GIVEN SHALL BE DEEMED TO HAVE BEEN GIVEN
AND RECEIVED WHEN DELIVERED, IF DELIVERED, AND UPON TRANSMISSION, IF TELECOPIED,
AND IF THE DATE OF SUCH TRANSMISSION IS NOT A BUSINESS DAY, ON THE NEXT ENSUING
BUSINESS DAY.

6.   GENERAL MATTERS. This certificate shall be governed by and construed in
accordance with the laws of the Province of British Columbia. Time will be of
the essence hereof.

IN WITNESS WHEREOF the Company has caused this certificate to be signed as of
January 28, 2000.

MDU COMMUNICATIONS INTERNATIONAL, INC.
By:

/s/ Sheldon Nelson                                   c/s
------------------
(AUTHORIZED SIGNATORY)

<PAGE>

                               NOTICE OF EXERCISE

To:      MDU COMMUNICATIONS INTERNATIONAL, INC.
         108 - 11951 Hammersmith Way,
         Richmond, B.C. V7A 5H9

(1)   The undersigned holder of the Warrants represented by the within
Warrant Certificate hereby exercises the right under such Warrant to be
issued the Agent's Underlying Warrant issuable under the Warrants.

(2)   The undersigned holder hereby irrevocably directs that the Agent's
Underlying Warrant be issued and delivered as follows:

NAME(S) IN FULL                   ADDRESS(ES)
--------------------------------- ----------------------------------------

--------------------------------- ----------------------------------------

--------------------------------- ----------------------------------------

--------------------------------- ----------------------------------------

(Please print full name in which certificates are to be issued.)

DATED this _____ day of ____________, _______

----------------------------------     -----------------------------------
Signature of Witness                   Signature of Holder

----------------------------------     -----------------------------------
Print Name of Witness                  Name of Holder

----------------------------------     -----------------------------------
Address of Witness                     Address of Holder

<PAGE>

                                    EXHIBIT A

NEITHER THIS WARRANT NOR THE COMMON SHARES ISSUABLE UPON THE EXERCISE OF THIS
WARRANT HAVE BEEN QUALIFIED UNDER THE SECURITIES LAWS OF ANY OF THE PROVINCES OF
CANADA. FOR THE PURPOSES OF THE SECURITIES ACT (BRITISH COLUMBIA), THIS WARRANT
AND THE COMMON SHARES ISSUABLE UPON THE EXERCISE OF THIS WARRANT ARE SUBJECT TO
A HOLD PERIOD AND MAY NOT BE TRADED IN BRITISH COLUMBIA UNTIL AFTER THE EXPIRY
OF THE HOLD PERIOD, EXCEPT AS PERMITTED BY THE SECURITIES ACT (BRITISH COLUMBIA)
AND REGULATIONS MADE THEREUNDER.

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED, OR THE SECURITIES ACT OF ANY STATE (COLLECTIVELY, THE
"SECURITIES LAWS"). THEY MAY NOT BE SOLD OR OFFERED FOR SALE IN THE ABSENCE OF
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES LAWS OR AN OPINION OF
COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES THAT AN EXEMPTION UNDER
THE SECURITIES LAWS IS AVAILABLE AND THAT SUCH REGISTRATION IS NOT REQUIRED.

    THIS WARRANT IS NOT TRANSFERABLE AND WILL BE VOID AND OF NO VALUE UNLESS
                  EXERCISED WITHIN THE LIMITS HEREIN PROVIDED

                     MDU COMMUNICATIONS INTERNATIONAL, INC.

                            (a Delaware corporation)

           WARRANT FOR THE PURCHASE OF 309,000 SHARES OF COMMON STOCK

THIS IS TO CERTIFY THAT, for value received, HAYWOOD SECURITIES INC. (the
"Holder") is entitled to subscribe for and purchase 309,000 fully paid and
non-assessable shares of the Common Stock (the "Common Shares") of MDU
Communications International, Inc. (the "Company") at a purchase price per share
(the "Exercise Price") of US$2.50. This Warrant is exercisable at any time up to
4:00 P.M. Vancouver time on January 28, 2001 (the "Time of Expiry") subject,
however, to the provisions and adjustments and upon the terms and conditions
hereinafter set forth.

The rights represented by this Warrant may be exercised by the Holder, in whole
or in part (but not as to a fractional Share), by surrender of this Warrant at
the office of the Company at 108 - 11951 Hammersmith Way, Richmond, B.C. V7A
5H9, during its normal business hours, together with the subscription form
attached hereto completed and signed by the Holder and a certified cheque
payable to or to the order of the Company in payment of the Exercise Price for
the number of Common Shares subscribed for. Upon the exercise of the rights
represented by this Warrant and payment of the Exercise Price in accordance with
the terms hereof, the Common Shares for which the Holder has subscribed and
purchased shall be deemed to have

<PAGE>
                                       6

been issued and the Holder shall be deemed to become the holder of record of
such shares on the date of such exercise and payment.

In the event of any exercise of the rights represented by this Warrant,
certificates for the Common Shares so purchased shall be delivered to the Holder
within a reasonable time, not exceeding two business days after the rights
represented by this Warrant have been duly exercised and, unless this Warrant
has expired, a new Warrant representing the number of Common Shares, if any,
with respect to which this Warrant shall not then have been exercised shall also
be issued to the Holder within such time.

The Company covenants and agrees that the Common Shares which may be issued upon
the due exercise of the rights represented by this Warrant will, upon issuance,
be fully paid and non-assessable and free of all liens, charges and
encumbrances. The Company further covenants and agrees that during the period
within which the rights represented by this Warrant may be exercised, the
Company will at all times have authorized and reserved, a sufficient number of
Common Shares to provide for the exercise of the rights represented by this
Warrant.

                   THE FOLLOWING ARE THE TERMS AND CONDITIONS
                           REFERRED TO IN THIS WARRANT

1.       In case the Company shall at any time subdivide its outstanding
Common Shares into a greater number of shares, the Exercise Price shall be
proportionately reduced and the number of subdivided Common shares entitled
to be purchased proportionately increased, and conversely, in case the
outstanding Common Shares of the Company shall be consolidated into a smaller
number of shares, the Exercise Price shall be proportionately increased and
the number of consolidated Common Shares entitled to be purchased hereunder
shall be proportionately decreased.

         If any capital reorganization or reclassification of the capital stock
of the Company, or the merger, amalgamation or arrangement of the Company with
another corporation shall be effected, then as a condition of such
reorganization, reclassification, merger, amalgamation or arrangement, adequate
provision shall be made whereby the holder hereof shall have the right to
purchase and receive upon the basis and upon the terms and conditions specified
in this Warrant and in lieu of the Common Shares immediately theretofore
purchasable and receivable upon the exercise of the rights represented hereby,
such shares of stock, or other securities as may be issued with respect to or in
exchange for such number of outstanding Common Shares equal to the number of
Common Shares purchasable and receivable upon the exercise of this Warrant had
such reorganization, reclassification, merger, amalgamation or arrangement not
taken place. The Company shall not effect any merger, amalgamation or
arrangement unless prior to or simultaneously with the consummation thereof the
successor corporation (if other than the Company) resulting from such merger,
amalgamation or arrangement assumes by written instrument executed and mailed or
delivered to the holder of this Warrant the obligation to deliver to such holder
such shares of stock or securities in accordance with the foregoing provisions
as such holder may be entitled to purchase.

2.       In case at any time:

                                       6

<PAGE>
                                       7

      (a)  the Company shall pay any dividend payable in stock upon its
           Common Shares or make any distribution to the holders of its
           Common Shares;

      (b)  the Company shall offer for subscription pro rata to the holders
           of its Common Shares any additional shares of stock of any class
           or other rights;

      (c)  there shall be any subdivision, consolidation, capital
           reorganization, or reclassification of the capital stock of the
           Company, or merger, amalgamation or arrangement of the Company with,
           or sale of all or substantially all of its assets to, another
           corporation; or

      (d)  there shall be a voluntary or involuntary dissolution, liquidation
           or winding-up of the Company;

then, and in any one or more of such cases, the Company shall give to the holder
of this Warrant, at least twenty day's prior written notice of the date on which
the books of the Company shall close or a record shall be taken for such
dividend, distribution or subscription rights, or for determining rights to vote
with respect to such subdivision, consolidation, reorganization,
reclassification, merger, amalgamation, arrangement, dissolution, liquidation or
winding-up and in the case of any such subdivision, consolidation,
reorganization, reclassification, merger, amalgamation, arrangement, sale,
dissolution, liquidation or winding-up, at least twenty days' prior written
notice of the date when the same shall take place. Such notice in accordance
with the foregoing clause, shall also specify, in the case of any such dividend,
distribution or subscription rights, the date on which the holders of Common
Shares shall be entitled thereto, and such notice in accordance with the
foregoing shall also specify the date on which the holders of Common Shares
shall be entitled to exchange their Common Shares for securities or other
property deliverable upon such subdivision, consolidation, reorganization,
reclassification, merger, amalgamation, arrangement, sale, dissolution,
liquidation or winding-up as the case may be. Each such written notice shall be
given by first class mail, registered postage prepaid, addressed to the holder
of this Warrant at the address of such holder, as shown on the books of the
Company.

3.   As used herein, the term "Common Shares" shall mean and include the
Company's authorized shares of Common Stock as constituted on January 28, 2000,
and shall also include any capital stock of any class of the Company hereafter
authorized which shall not be limited to a fixed sum or percentage in respect of
the rights of the holders thereof to participate in dividends and in the
distribution of assets upon the voluntary or involuntary liquidation,
dissolution or winding-up of the Company.

4.   This Warrant shall not entitle the Holder to any rights as a shareholder of
the Company, including without limitation, voting rights, except that the
Company shall concurrently furnish to the Holder a copy of all notices which are
furnished to holders of the common shares.

5.   This Warrant and all rights hereunder are not transferable.

6.   On presentation at the principal office of the Company in Richmond, British
Columbia one or more Warrant Certificates may be exchanged for one or more
Warrant Certificates of different denominations evidencing in the aggregate the
same number of Warrants as the

                                       7

<PAGE>
                                       8

Warrant Certificate or Warrant Certificates being exchanged.

7.   Time is of the essence hereof.

8.   This Warrant shall be governed by and construed in accordance with the laws
of the Province of British Columbia.

MDU COMMUNICATIONS INTERNATIONAL, INC., intending to be contractually bound, has
caused this Warrant to be signed by its duly authorized officer under its
corporate seal, and this Warrant to be dated ___________________, 2000.

MDU COMMUNICATIONS INTERNATIONAL, INC.
By:

----------------------------------                                        c/s
(AUTHORIZED SIGNATORY)

                                       8<PAGE>

                                   EXHIBIT 4.9

                                                                      2000-C001

      THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR
      APPLICABLE STATE SECURITIES LAWS, AND NO INTEREST THEREIN MAY BE SOLD,
      DISTRIBUTED, ASSIGNED, OFFERED, PLEDGED OR OTHERWISE TRANSFERRED UNLESS
      THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND THE
      APPLICABLE STATE SECURITIES LAWS COVERING ANY SUCH TRANSACTION OR THE
      ISSUER OF THESE SECURITIES RECEIVES AN OPINION OF LEGAL COUNSEL
      SATISFACTORY TO THE ISSUER STATING THAT SUCH TRANSACTION IS EXEMPT FROM
      THE REGISTRATION REQUIREMENTS.

                     MDU COMMUNICATIONS INTERNATIONAL, INC.
                              --------------------

                        WARRANT TO PURCHASE COMMON STOCK

         This is to certify that, for value received and subject to the terms
and conditions set forth below, GIBRALT CAPITAL CORPORATION is entitled to
purchase at any time on or after March 1, 2000, and on or before March 1,
2002, and MDU Communications International, Inc., a Delaware corporation
("the Company"), promises and agrees to sell and issue, up to 750,000 shares
of Common Stock (hereinafter defined) at a price of two dollars and fifty
cents US (US$2.50) per share ("Exercise Price").

         This Warrant is issued subject to the following terms and conditions:

     1. DEFINITIONS. Except as may be otherwise clearly required by the
context, the following terms shall have the following meanings:

          "COMMON STOCK" means the Common Stock of the Company.

          "COMPANY" means MDU Communications International, Inc., a Delaware
          corporation.

          "EXERCISE PRICE" means the price at which a Warrant Holder may
          purchase one share of Common Stock (or Securities obtainable in lieu
          of one share of Common Stock) upon exercise of Warrants as determined
          from time to time pursuant to the provisions hereof.

          "SECURITIES" means the Common Stock or other securities obtained or
          obtainable upon exercise of the Warrants.

          "WARRANT HOLDER" means the person named in the initial paragraph of
          this certificate or any successor who is a record holder of Warrants.

<PAGE>

          "WARRANTS" means the warrants evidenced by this certificate or by any
          certificate obtained upon transfer or partial exercise of Warrants.

     2. EXERCISE OF WARRANTS. All or any part of the Warrants may be
exercised by surrendering this certificate, together with appropriate
instructions, duly executed by the Warrant Holder, or by its duly authorized
attorney, at the office of the Company, 108 - 11951 Hammersmith Way,
Richmond, British Columbia, Canada, or at such other office or agency as the
Company may designate by written notice to the Warrant Holder, accompanied by
payment in full, in lawful money of the United States of the Exercise Price
payable for the Securities being issued on exercise of such Warrants. If
fewer than all the Warrants evidenced by this certificate are exercised, the
Company will, upon such exercise, execute and deliver to the Warrant Holder a
new certificate (dated the date hereof), in form and tenor substantially
similar to this certificate, evidencing the Warrants not exercised. The
Securities to be obtained on exercise of the Warrants shall be deemed to have
been issued, and any person exercising the Warrants shall be deemed to have
become a holder of record of those Securities, as of the date of the
surrender of this certificate and the payment of the Exercise Price.

     3. ADJUSTMENTS IN CERTAIN EVENTS. The number, class and Exercise Price
of Securities for which this certificate may be exercised are subject to
adjustment from time to time upon the happening of certain events as follows:

          (a) STOCK DIVIDENDS, SPLITS, ETC. If the outstanding shares of the
Company's Common Stock are divided into a greater number of shares or a
dividend in stock is paid on the Common Stock, the number of shares of Common
Stock which may be purchased under this certificate shall be proportionately
increased and the Exercise Price proportionately decreased; and, conversely,
if the outstanding shares of Common Stock are combined into a smaller number
of shares of Common Stock, the number of shares of Common Stock which may be
purchased under this certificate shall be proportionately reduced and the
Exercise Price proportionately increased. The increases and reductions
provided for in this SECTION 3(a) shall be made with the intent and, as
nearly as practicable, the effect that neither the percentage of the total
equity of the Company obtainable on exercise of the Warrants nor the
aggregate Exercise Price for such percentage upon such exercise shall be
affected by any event described in this SECTION 3(a).

          (b) MERGERS, CONSOLIDATIONS, ETC. In case of any change in the
Common Stock of the Company through merger, consolidation, reclassification,
reorganization, partial or complete liquidation, transfer of assets or other
change in the capital structure of the Company (not including the issuance of
additional shares of Common Stock by the Company other than by stock split or
stock dividend) (the "Capital Reorganization"), then, as a condition of such
Capital Reorganization, lawful and adequate provision shall be made so that
the holder of this certificate will have the right thereafter to receive upon
the exercise of the Warrants the kind and amount of shares of stock or other
securities or property to which it would have been entitled if, immediately
prior to such Capital Reorganization, it had held the number of shares of
Common Stock obtainable upon the exercise of the Warrants. In any such case,
appropriate adjustment shall be made in the application of the provisions set
forth herein with respect to the rights and interest thereafter of the
Warrant Holder, to the end that the provisions set forth herein shall
thereafter be applicable, as nearly as reasonably may be possible, in
relation to any shares of stock or other property thereafter deliverable upon
the exercise of the Warrants. The Company will not permit any Capital
Reorganization described in this SECTION 3(b) to occur unless the issuer of
the shares of stock or other securities to be received by the holder of this
certificate, if not the Company, agrees to be bound by and comply with the
provisions of this certificate.

                                       2
<PAGE>

          (c) DETERMINATION AND NOTICE OF EXERCISE PRICE. When any adjustment
is required to be made in the number of shares of Common Stock, Exercise
Price, other securities, or the property purchasable upon exercise of the
Warrants as provided in this SECTION 3, the Company shall promptly determine
the new Exercise Price, number of such shares or other securities or property
purchasable upon exercise of the Warrants and (i) prepare and retain on file
a statement describing in reasonable detail the method used in arriving at
the new Exercise Price or number of such shares or other securities or
property purchasable upon exercise of the Warrants and (ii) cause a copy of
such statement to be mailed to the Warrant Holder within sixty (60) days
after the date when the event giving rise to the adjustment occurred.

               (d) NO FRACTIONAL SHARES. No fractional shares of Common Stock
or other Securities will be issued in connection with the exercise of any
Warrants, but the Company shall pay, in lieu of fractional shares, a cash
payment therefor on the basis of the mean between the bid and asked prices in
the over-the-counter market or the closing price on a national securities
exchange on the day immediately prior to exercise.

               (e) ISSUANCE OF OTHER SECURITIES, ETC. If other securities of
the Company or securities of any subsidiary of the Company are distributed
pro rata to holders of any or all of the Company's Common Stock, such number
of securities shall be distributed to the Warrant Holder upon exercise of his
rights hereunder as such Warrant Holder or assignee would have been entitled
to if this Warrant had been exercised prior to such distribution. The
provisions with respect to adjustment of the Company's Common Stock provided
in this SECTION 3 shall also apply to such other securities and securities of
any subsidiary to which the Warrant Holder or his assignee shall be entitled
under this SECTION 3(e).

     4. RESERVATION OF SHARES. The Company agrees that the number of shares
of Common Stock or other Securities sufficient to provide for the exercise of
the Warrants upon the basis set forth above shall at all times during the
term of the Warrants be reserved for exercise.

     5. VALIDITY OF SECURITIES. All Securities delivered upon the exercise of
the Warrants shall be duly and validly issued in accordance with their terms,
and the Company will pay all documentary and transfer taxes, if any, in
respect of the original issuance thereof upon exercise of the Warrants.

     6. INVESTMENT REPRESENTATION. The Warrant Holder represents and warrants
that it has acquired the Warrants, and will acquire the Common Stock or other
Securities, if any, upon exercise of the Warrants, for its own account for
investment and not with a view to the sale or other disposition of all or any
part of the Warrants, Common Stock or other Securities. The Warrants, and the
Common Stock or other Securities acquired or to be acquired upon exercise of
the Warrants, may not be sold, transferred or otherwise hypothecated unless
in the opinion of counsel for the Company the Warrants, Common Stock or other
Securities may be sold, transferred or otherwise hypothecated without
registration under the Act and any applicable state securities laws.

         An appropriate legend to the foregoing effect and of the type
commonly placed on certificates evidencing privately placed securities may be
placed on all certificates evidencing Securities.

     7. NO RIGHTS AS A SHAREHOLDER. Except as otherwise provided herein, the
Warrant Holder shall not, by virtue of ownership of Warrants, be entitled to
any rights of a shareholder of the Company but shall, upon written request to
the Company, be entitled to receive such quarterly or annual reports as the
Company by mail shall distribute to its shareholders.

                                       3
<PAGE>

     8. NOTICE. Any notices required or permitted to be given hereunder shall
be in writing and may be served personally or by mail; and if served by mail,
shall be addressed as follows:

        If to the Company:
                                 MDU Communications International, Inc.
                                 108 - 11951 Hammersmith Way
                                 Richmond, B.C. V7A 5H9, CANADA

        If to the Warrant Holder:
                                 Gibralt Capital Corporation
                                 Suite 2000, 1177 West Hastings Street
                                 Vancouver, B.C. V6E 2K3 CANADA

     Any notice so given by mail shall be deemed effectively given 48 hours
after mailing when deposited in the United States mail, registered or
certified mail, return receipt requested, postage prepaid and addressed as
specified above. Any party may by written notice to the other specify a
different address for notice purposes.

     9. APPLICABLE LAW. This Certificate shall be governed by and construed
in accordance with the laws of the State of Delaware.

         DATED as of March 1, 2000.

                                          MDU COMMUNICATIONS INTERNATIONAL, INC.

                                          per:   /s/ Sheldon Nelson, President
                                               --------------------------------
                                                 Authorized Signatory

                                       4
<PAGE>

                                WARRANT EXERCISE

I/We, _____________________________, hereby exercise __________________
common share purchase warrants pursuant to Warrant 2000-C001and register the
issued shares as follows:

REGISTRATION INFORMATION

Please register the issued Common Shares as follows:

Name:    ______________________________
         (Please print)

Address:______________________________

        ______________________________

        ______________________________

If the Warrant Holder is an individual, please complete the following:

--------------------------------         --------------------------------
Signature of Witness                     Signature of Warrant Holder

--------------------------------         --------------------------------
Name of Witness (Please Print)           Name of Warrant Holder (Please Print)

If the Warrant Holder is a corporation, please have a duly authorized signatory
sign here and complete the section below:

THE CORPORATE SEAL of:                      )
                                            )
-------------------------------             )
(Name of Warrant Holder) was hereunto)                     c/s
affixed in the presence of:                 )
                                            )
-------------------------------             )
Authorized Signatory                        )
                                            )

                                       5

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