Document:

Exhibit 10.3

                              EMPLOYMENT AGREEMENT

     Employment  Agreement  ("Agreement") made and entered into as of January 1,
2000  by  and  between  Relocate411.com,  Inc.,  a  New  York  corporation  (the
"Company"), and Barry Manko (the "Executive").

     The Executive is being employed by the Company as an executive officer. The
parties desire to enter into an employment agreement and to set forth herein the
terms and conditions of the Executive's  continued employment by the Company and
its subsidiaries.

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set
forth herein and the mutual  benefits to be derived  here from,  the Company and
the Executive agree as follows:

     1. Employment.

     (a) Duties. The Company shall employ the Executive,  on the terms set forth
in this Agreement, as its Vice-President of Business Development.  The Executive
accepts  such  employment  with the Company and shall  perform and fulfill  such
duties as are assigned to him hereunder  consistent  with his status as a senior
executive of the Company devoting his best efforts and a substantial  portion of
his time and attention to the  performance  and fulfillment of his duties and to
the advancement of the interests of the Company,  subject only to the direction,
approvals,  control and  directives  of the  Company's  Board of Directors  (the
"Board").  Nothing contained herein shall be construed,  however, to prevent the
Executive  from  trading in or  managing,  for his own account and  benefit,  in
stocks,  bonds,  securities,   real  estate,   commodities  or  other  forms  of
investments  (subject  to law and  Company  policy  with  respect  to trading in
Company securities). Without any additional consideration,  Executive shall also
serve as an officer of any or all subsidiaries of the Company.  Unless otherwise
indicated by the context,  the term "Company"  shall include the Company and all
its subsidiaries.

     (b) Place of Performance. In connection with his employment by the Company,
the Executive shall be based at the Company's principal place of business in New
York, except when required for travel in Company business.

     (c)  Nomination as Director.  The Company  agrees that it will nominate the
Executive  as a member of the Board of  Directors  each year  during the term of
this  Agreement  and will use its best  efforts to ensure that the  Executive is
elected to the Board of Directors.

     2. Term. The Executive's  employment under this Agreement shall commence as
of January 1, 2000 (the "Commencement Date") and shall, unless sooner terminated
in accordance with the provisions hereof,  continue uninterrupted until December
31, 2002  ("Term").  As used herein  "Year" shall refer to a twelve month period
ending December 31st. Unless notice of non-

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renewal  is given by either  party at least  sixty (60) days prior to the end of
the Term or prior to the end of any Year thereafter,  the Term of this Agreement
shall be automatically extended for an additional period of one year.

     3.  Compensation.  Executive shall receive a "Base Salary" during the Term.
For the period January 1, 2000 through  December 31, 2000, the Base Salary shall
be at the rate of $62,400  per annum with  increases,  subject to a  semi-annual
review by the Board of Directors.

     4. Insurance.

     (a) Health  Insurance and Other  Benefits.  During the Term,  the Executive
shall be entitled to all employee  benefits  generally offered by the Company to
its  executive  officers  and  key  management  employees,   including,  without
limitation,  all pensions,  profit  sharing,  retirement,  stock option,  salary
continuation,  deferred  compensation,   disability  insurance,  hospitalization
insurance, major medical insurance, medical reimbursement, survivor income, life
insurance or any other benefit plan or arrangement established and maintained by
the  Company,  subject  to the rules and  regulations  then in effect  regarding
participation therein.

     (b) Keyman Insurance. The Company may obtain keyman life insurance upon the
life of the Executive in amounts to be determined from time to time by Executive
and the Company.

     5. Expenses.

     (a)  Reimbursement  of Expenses.  The Executive shall be reimbursed for all
items of travel,  entertainment  and  miscellaneous  expenses that the Executive
reasonably  incurs in connection with the  performance of his duties  hereunder,
provided the Executive submits to the Company such statements and other evidence
supporting said expenses as the Company may reasonably require.

     (b)  Automobile  Allowance.  The  Executive  shall  be  reimbursed  for the
expenses  of owning or leasing  an  automobile  suitable  for his  position  and
consistent with Company practices, including the expenses of operating, insuring
and parking such automobile,  provided the Executive submits to the Company such
statements  and other  evidence  supporting  such  expenses  as the  Company may
require.

     6.  Vacation.  The  Executive  shall be  entitled to not less than four (4)
weeks of vacation in any calendar year. Any unused vacation time in a year shall
be accumulated and increase the amount of vacation time in subsequent years.

     7. Termination of Employments.

     (a) Death or Total  Disability.  In the event of the death of the Executive
during  the  Term,  this  Agreement  shall  terminate  as of  the  date  of  the
Executive's death. In the event of the Total Disability (as that term is defined
below)  of the  Executive  for  sixty  (60)  days in the  aggregate  during  any
consecutive nine (9) month period during the Term, the Company

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shall have the right to terminate this Agreement by giving the Executive  thirty
(30) days' prior written notice thereof,  and upon the expiration of such thirty
(30)  day  period,  the  Executive's   employment  under  this  Agreement  shall
terminate.  If the  Executive  shall resume his duties  within  thirty (30) days
after  receipt of such a notice of  termination  and  continue  to perform  such
duties for four (4) consecutive weeks thereafter,  this Agreement shall continue
in full  force and  effect,  without  any  reduction  in Base  Salary  and other
benefits, and the notice of termination shall be considered null and void and of
no effect.  Upon  termination of this Agreement  under this Paragraph  7(a), the
Company shall have no further  obligations or liabilities  under this Agreement,
except to pay to the  Executive's  estate or the Executive,  as the case may be,
(i) the portion,  if any, that remains unpaid of the Base Salary for the Year in
which  termination  occurred,  but in no event  less than six (6)  months'  Base
Salary;  and (ii) the amount of any expenses  reimbursable  in  accordance  with
Paragraph 4 above, and any automobile allowance due under Paragraph 5 above; and
(iii) any amounts due under any Company benefit, welfare or pension plan. Except
as otherwise  provided by their terms,  any stock options not vested at the time
of the termination of this Agreement under this Paragraph 7(a) shall immediately
become fully vested.

     The term "Total Disability" as used herein, shall mean a mental or physical
condition  which in the  reasonable  opinion of an  independent  medical  doctor
selected by the Company renders the Executive unable or incompetent to carry out
the material duties and  responsibilities  of the Executive under this Agreement
at the time the disabling  condition  was  incurred.  In the event the Executive
disagrees with such opinion,  the Executive may, at his sole expense,  select an
independent  medical  doctor and, in the event that  doctor  disagrees  with the
opinion  of the  doctor  selected  by the  Company,  they  shall  select a third
independent  medical  doctor,  and the three doctors  shall,  by majority  vote,
determine whether the employee has suffered Total Disability. The expense of the
third  doctor  shall  be  shared  equally  by the  Company  and  the  Executive.
Notwithstanding  the foregoing,  if the Executive is covered under any policy of
disability  insurance under Paragraph 3(c) above,  under no circumstances  shall
the definition of Total Disability be different from the definition of that term
in such policy.

     (b)  Discharge  for Cause.  The Company may  discharge  the  Executive  for
"Cause" upon notice and thereby immediately  terminate his employment under this
Agreement.  For purposes of this  Agreement,  the Company  shall have "Cause" to
terminate  the  Executive's  employment  if the  Executive,  in  the  reasonable
judgment of the Company,  (i) materially breaches any of his agreements,  duties
or  obligations  under this Agreement and has not cured such breach or commenced
in good faith to correct such breach within thirty (30) days after notice;  (ii)
embezzles  or  converts to his own use any funds of the Company or any client or
customer of the Company; (iii) converts to his own use or unreasonably destroys,
intentionally,  any property of the Company, without the Company's consent; (iv)
is  convicted  of a  crime;  (v) is  adjudicated  an  incompetent;  or  (vi)  is
habitually  intoxicated or is diagnosed by an  independent  medical doctor to be
addicted to a controlled  substance  (any  disagreement  of  Executive  shall be
resolved using the procedure provided in Paragraph 7(a) above).

     (c)  Termination  by Executive.  Executive may terminate this Agreement for
the  failure  by the  Company to comply  with the  material  provisions  of this
Agreement which failure is not cured within thirty (30) days after notice ("Good
Reason").

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     (d) No  Mitigation.  The  Executive  shall not be required to mitigate  the
amount of any payment or benefit provided for in this Agreement by seeking other
employment  or  otherwise,  not shall the amount of any payment  provided for in
this  Agreement be reduced by any  compensation  earned by the  Executive as the
result of his employment by another employer.

     8. Restrictive Covenant.

     (a) Competition.  As used herein "Company Business" shall mean any business
which the  Company  is  actively  pursuing  or  actively  considering  while the
executive  was  employed  by the  Company  provided  that  upon  termination  or
execution  of this  agreement  the term  "Company  Business"  shall refer to any
arrangement or contract or relation of the Company or any subsidiary existing or
actually pursued at the time of termination or expiration of the Agreement.  The
Executive undertakes and agrees that during the term of this Agreement and for a
period  of two  years  after  the  date of  termination  or  expiration  of this
Agreement he will not compete, directly or indirectly, with respect to a Company
Business or participate as a director,  officer,  employee,  agent,  consultant,
representative or otherwise, or as a stockholder, partner or joint venturers, or
have any direct or indirect financial interest,  including,  without limitation,
the interest of a creditor,  in any business competing with respect to a Company
Business.  Executive  acknowledges  that such  prospects  represent  a corporate
opportunity  or are the  property of the Company  and  Executive  should have no
rights with respect to such properties on projects. Executive further undertakes
and agrees  that during the term of the  Agreement  and for a period of one year
after the date of  termination  or  expiration  of this  Agreement  he will not,
directly or indirectly employ,  cause to be employed,  or solicit for employment
any of Company's or its subsidiaries' employees.  Notwithstanding the foregoing,
the  provisions  of the  Paragraph  7(a) shall not apply to  termination  by the
Executive pursuant to Section 7(c) or by the Company without cause.

     (b) Scope of Covenant.  Should the duration,  geographical area or range or
proscribed  activities contained in Paragraph 8(a) above be held unreasonable by
any court of competent  jurisdiction,  then such duration,  geographical area or
range of proscribed activities shall be modified to such degree as to make it or
them reasonable and enforceable.

     (c) Non-Disclosure of Information.

          (i) The Executive shall (i) never, directly or indirectly, disclose to
     any person or entity for any reason,  or use for his own personal  benefit,
     any "Confidential  Information" (as hereinafter  defined) either during his
     employment with the Company or following termination of that employment for
     any reason (ii) at all times take all precautions necessary to protect from
     loss or  disclosure  by him of any and all  documents or other  information
     containing,  referring or relating to such  Confidential  Information,  and
     (iii) upon  termination of his employment  with the Company for any reason,
     the Executive shall promptly return to the Company any and all documents or
     other  tangible  property   containing,   referring  or  relating  to  such
     Confidential Information, whether prepared by him or others.

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          (ii)  Notwithstanding  any provision to the contrary in this Paragraph
     8(c), this paragraph shall not apply to information  which the Executive is
     called  upon by  legal  process  regular  on its face  (including,  without
     limitation,  by  subpoena  or  discovery  requirement)  to  disclose  or to
     information  which has  become  part of the public  domain or is  otherwise
     publicly disclosed through no fault or action of the Executive.

          (iii) For purposes of this Agreement, "Confidential Information" means
     any  information  relating  in  any  way  to the  business  of the  Company
     disclosed to or known to the Executive as a  consequence  of, result of, or
     through  the  Executive's  employment  by the  Company  which  consists  of
     technical  and  nontechnical  information  about  the  Company's  products,
     processes,  computer programs, concepts, forms, business methods, data, any
     and all financial  and  accounting  data,  marketing,  customers,  customer
     lists, and services and information  corresponding  thereto acquired by the
     Executive  during the term of the  Executive's  employment  by the Company.
     Confidential  Information  shall not  include  any of such items  which are
     published or are otherwise part of the public domain,  or freely  available
     from trade sources or otherwise.

          (iv) Upon termination of this Agreement for any reason,  the Executive
     shall  turn  over  to  the  Company  all  tangible  property  then  in  the
     Executive's  possession or custody which belongs or relates to the Company.
     The  Executive  shall not retain any copies or  reproductions  of  computer
     programs,   correspondence,   memoranda,   reports,  notebooks,   drawings,
     photographs, or other documents which constitute Confidential Information.

     9. Arbitration.

     (a) Any and all other disputes,  controversies and claims arising out of or
relating  to this  Agreement,  or with  respect  to the  interpretation  of this
Agreement,  or the rights or obligations of the parties and their successors and
permitted  assigns,  whether by operation of law or otherwise,  shall be settled
and  determined by  arbitration  in New York City, New York pursuant to the then
existing rules of the American  Arbitration  Association  ("AAA") for commercial
arbitration.

     (b) In the event that the  Executive  disputes a  determination  that Cause
exists for terminating his employment  hereunder  pursuant to Paragraph 7(b), or
the  Company  disputes  the  determination  that  Good  Reason  exists  for  the
Executive's  termination of this Agreement  pursuant to Paragraph  7(c),  either
party disputing this determination  shall serve the other with written notice of
such  dispute  ("Dispute  Notice")  within  thirty  (30) days after the date the
Executive is  terminated  for Cause or the date the  Executive  terminates  this
Agreement for Good Reason. Within fifteen (15) days thereafter, the Executive or
the Company, as the case may be, shall, in accordance with the Rules of the AAA,
file a petition with the AAA for  arbitration of the dispute,  the costs thereof
to be shared equally by the Executive and the Company unless an order of the AAA
provides  otherwise.  If the Executive serves a Dispute Notice upon the Company,
an amount equal to the portion of the Base Salary Executive would be entitled to
receive hereunder shall be placed by the Company in an  interest-bearing  escrow
account  mutually  agreeable  to the  parties or the  Company  shall  deliver an
irrevocable  letter of credit for such amount  plus  interest  containing  terms
mutually agreeable to the parties. If the AAA determines that Cause existed for

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the  termination,  the escrowed funds and accrued  interest shall be paid to the
Company.  However,  in the  event  the AAA  determines  that the  Executive  was
terminated  without  Cause  or that  Executive  resigned  for Good  Reason,  the
escrowed funds and accrued interest shall be paid to the Executive.

     (c)  Any  proceeding  referred  to in  Paragraph  9(a)  or (b)  shall  also
determine  Executive's  entitlement  to legal fees as well as all other disputes
between the parties relating to Executive's employment.

     (d) The parties  covenant  and agree that the  decision of the AAA shall be
final and binding and hereby waive their right to appeal therefrom.

     10. Indemnity. The Company shall indemnify and hold Executive harmless from
all  liability  to the  full  extent  permitted  by the  laws  of its  state  of
incorporation.

     11. Miscellaneous.

     (a)  Notices.  Any notice,  demand or  communication  required or permitted
under this Agreement shall be in writing and shall either be  hand-delivered  to
the other  party or mailed to the  addresses  set forth below by  registered  or
certified mail,  return receipt  requested or sent by overnight  express mail or
courier or facsimile to such address, if a party has a facsimile machine. Notice
shall be deemed to have been given and received when so  hand-delivered or after
three (3) business days when so deposited in the U.S. Mail, or when  transmitted
and  received by facsimile  or sent by express  mail  properly  addressed to the
other party. The addresses are:

         To the Company:                    Relocate411.com, Inc.
                                            142 Mineola Avenue, Suite 2-D
                                            Roslyn Heights, New York 11577
                                            (212) 683-1997 (telecopier)

         To the Executive:                  Barry Manko

The foregoing addresses may be changed at any time by notice given in the manner
herein provided.

     (b)  Integration;  Modification.  This  Agreement  constitutes  the  entire
understanding and agreement between the Company and the Executive  regarding its
subject matter and supersedes all prior  negotiations  and  agreements,  whether
oral or written, between them with respect to its subject matter. This Agreement
may not be modified except by a written  agreement signed by the Executive and a
duly authorized officer of the Company.

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     (c) Enforceability.  If any provision of this Agreement shall be invalid or
unenforceable,  in whole or in  part,  such  provision  shall  be  deemed  to be
modified or restricted  to the extent and in the manner  necessary to render the
same valid and enforceable,  or shall be deemed excised from this Agreement,  as
the case may require,  and this Agreement shall be construed and enforced to the
maximum  extent  permitted  by law as if  such  provision  had  been  originally
incorporated  herein as so modified or  restricted,  or as if such provision had
not been originally incorporated herein, as the case may be.

     (d) Binding  Effect.  This Agreement shall be binding upon and inure to the
benefit  of the  parties,  including  and  their  respective  heirs,  executors,
successors  and assigns,  except that this  Agreement may not be assigned by the
Executive.

     (e) Waiver of Breach.  No waiver by either party of any condition or of the
breach by the other of any term or covenant contained in this Agreement, whether
by conduct or  otherwise,  in any one (1) or more  instances  shall be deemed or
construed as a further or continuing waiver of any such condition or breach or a
waiver of any other  condition,  or the breach of any other term or covenant set
forth in this Agreement.  Moreover,  the failure of either party to exercise any
right hereunder  shall not bar the later exercise  thereof with respect to other
future breaches.

     (f) Governing  Laws.  This Agreement shall be governed by the internal laws
of the State of New York.

     (g) Headings. The headings of the various sections and paragraphs have been
included herein for convenience only and shall not be considered in interpreting
this Agreement.

     (h) Counterparts.  This Agreement may be executed in several  counterparts,
each of which shall be deemed to be an original but all of which  together  will
constitute one and the same instrument.

     (i) Due  Authorization.  The Company  represents that all corporate  action
required to authorize the execution,  delivery and performance of this Agreement
has been duly taken.

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     IN WITNESS WHEREOF,  this Agreement has been executed by the Executive and,
on behalf of the  Company,  by its duly  authorized  officer on the day and year
first above written.

                                          -----------------------------------
                                          BARRY MANKO

                                          RELOCATE411.COM, INC.

                                          By:
                                              -------------------------------
                                                   Darrell Lerner
                                                   Chief Executive Officer

                                       8Exhibit 10.4

                     LOAN AND SECURITIES PURCHASE AGREEMENT

     This LOAN AGREEMENT,  dated as of May 25, 2000 (this  "Agreement"),  by and
between  Teltran  International  Group,  Ltd.,  a  Delaware  corporation,   with
principal  executive offices located at One Penn Plaza, New York, New York 10019
(the "Company"), and Relocate 41l.com., Inc. ("Lender").

     WHEREAS, the Company desires to borrow $1,117,602 (the "Principal Amount")
from Lender and Lender desires to loan such Principal Amount to the Company upon
the terms and conditions set forth herein;

     Now,  THEREFORE,  in consideration of the premises and the mutual covenants
contained  herein,  the parties  hereto,  intending to be legally bound,  hereby
agree as follows:

                               I. Loan - Purchase

     A. Lender hereby  agrees to lend the Principal  Amount to the Company until
November  25, 2000 or such  earlier date  ("Accelerated  Maturity  Date") as the
Company or an affiliate  receives proceeds of $1,117,602 from a financing.  Such
Principal  Amount shall bear  interest at the rate of nine and  one-half  (9.5%)
percent per annum payable when the Principal Amount is paid.

     B. The loan shall be  represented  by a secured note and secured by (1) all
the shares of the Company's wholly owned subsidiary  Teltran Web Factory Limited
pursuant to pledge or Charge Over Share  Agreement under the laws of England and
Wales are (2) shares of the Company and Antra Holdings Group, Inc. pursuant to a
separate Stock Pledge Agreement.

     C. For additional  consideration of $2,500 payable July 1, 2000 the Company
shall also issue five year  warrants to Lender to purchase  250,000  shares (the
"Shares") of Common Stock of the Company at $1.10 per share.

     D.  Lender  shall  also have the right to  purchase  shares of entity to be
organized to operate and ultimately own financial  software  currently  owned by
the  Company's  subsidiary  Teltran  Web  Factory  Limited.  The  percentage  of
ownership and consideration therefore shall be determined by the parties.

                            II. Disclosure Documents

     A. Each Buyer acknowledges  receiving the following documents  ("Disclosure
Documents") filed by the Company with the Securities and Exchange Commission.

     1.   Annual Report for 1999 on Form l0-KSB.

     2.   Current Report dated March 15, 2000 on Form 8-K.

<PAGE>

     3.   Quarterly Report on form 10 QSB for the quarter ending March 31, 2000.
          4JtJ3/4' 7~OU

                       III. THE COMPANY'S REPRESENTATIONS

     The Company represents and warrants to each Buyer that:

     A. The Company has  registered  the Common Stock  pursuant to Section 12 of
the Securities Exchange Act of 1934, as amended (the "Exchange Act").

     B.  The  Company  has  the  requisite  corporate  power  and  authority  to
designation  and  to  enter  into  this  Agreement  and  to  perform  all of its
obligations hereunder and thereunder (including the issuance,  sale and delivery
to Buyer of the  Securities).  The  execution,  delivery and  performance by the
Company of the Documents and the consummation by the Company of the transactions
contemplated  hereby and thereby  have been duly and validly  authorized  by all
necessary corporate action on the part of the Company. Each of the Documents has
been duly and validly  executed and  delivered by the Company and each  Document
constitutes a valid and binding obligation of the Company enforceable against it
in  accordance  with its terms,  subject to applicable  bankruptcy,  insolvency,
fraudulent  conveyance,  reorganization,  moratorium  and similar laws affecting
creditors'  rights and remedies  generally and except as rights to indemnity and
contribution  may be limited by federal or state  securities  laws or the public
policy underlying such laws.

     C.  The  Shares  as  of  the  Closing  Date  will  be  validly  issued  and
outstanding,  fully paid and  nonassessable,  and not subject to any  preemptive
rights, rights of first refusal or tag-along rights.

     D. No  authorization,  approval  or  consent  of any  court  or  public  or
governmental  authority  is  required  to be  obtained  by the  Company  for the
issuance and sale of the Shares to Buyer as contemplated by this Agreement.

     E. The  Company  has  properly  and timely  filed with the  Commission  all
reports,  forms and other  documents  required  to be filed with the  Commission
under the Securities Act and the Exchange Act since June 1, 1999.

     F. As of their respective  dates, the Disclosure  Documents did not contain
at the time of its filing any untrue  statement of a material fact or omitted to
state a material  fact  required to be stated  therein or  necessary in order to
make the statements therein, in light of the circumstances under which they were
made, not misleading.  The financial  statements of the Company  included in the
Disclosure  Documents as of the dates of such documents,  were true and complete
in all material  respects and complied with applicable  accounting  requirements
and the published rules and regulations of the Commission with respect  thereto,
were prepared in

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<PAGE>

accordance with generally  accepted  accounting  principles in the United States
("GAAP")  (except in the case of  unaudited  statements  permitted  by Form l0-Q
under the  Exchange  Act)  applied on a  consistent  basis  during  the  periods
involved  (except as may be indicated in the notes thereto) and fairly presented
the  consolidated  financial  position of the Company and its Subsidiaries as of
the dates  thereof and the  consolidated  results of their  operations  and cash
flows for the periods then ended (subject,  in the case of unaudited statements,
to normal year-end audit  adjustments that in the aggregate are not material and
to any other adjustment described therein).

                             IV. REGISTRATION RIGHTS

     A. Not later than August 1, 2000 the Company shall file with the Commission
a registration  statement on Form SB-2, or other  appropriate  form, which shall
include the sale by Lender of the Shares. As used in this Article "Shares" shall
also be referred to as "Restricted Securities" and "Lender" shall be referred to
as "Holder" or "Seller".

     B. In connection with any  registration  statement to be filed herein,  the
Company shall:

     1.   furnish to each  seller of the  Restricted  Securities  such number of
          copies of such  registration  statement and of each such  amendment or
          supplement thereto (in each case including all exhibits),  including a
          preliminary and final prospectus,  in conformity with the requirements
          of the Securities Act,

     2.   use its best efforts to register or qualify the Restricted  Securities
          covered by such  registration  statement  under the securities or blue
          sky laws of such  jurisdictions as may be reasonably  requested by the
          Holder; and

     3.   notify  each  seller  of   Restricted   Securities   covered  by  such
          registration statement, at any time when a prospectus relating thereto
          covered by such  registration  statement  is required to be  delivered
          under the  Securities Act or the happening of any event as a result of
          which the  registration  statement,  the  prospectus  or any  document
          incorporated  therein by reference,  includes an untrue statement of a
          material  fact or omits to state a material fact required to be stated
          therein or necessary to make the statements therein not misleading and
          at the  request of such  seller,  prepare and furnish to such seller a
          post-effective  amendment or supplement to the registration  statement
          or the related  prospectus  or any  document  incorporated  therein by
          reference or file any other  required  document so that, as thereafter
          delivered to the purchasers of such shares,  such prospectus shall not
          include  an untrue  statement  of a  material  fact or omit to state a
          material fact  required to be stated  therein or necessary to make the
          statements therein not misleading;

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<PAGE>

     C.  EXPENSES.  All expenses  incurred by the Company in complying  with its
obligations  under  Articles  hereof,   including,   without   limitation,   all
registration and filing fees, fees and expenses of complying with securities and
blue sky laws,  printing  expenses and fees and  disbursements of counsel and of
independent  certified  public  accountants  of the Company shall be paid by the
Company;  provided,  however,  that all selling  commissions  and stock transfer
taxes  applicable  to the  Restricted  Securities  covered  by the  registration
effected  hereof  and  Seller's counsel  fees,  shall be borne by the  seller or
sellers thereof

     D. INDEMNIFICATION.

     1.   In the event of any  registration of any Restricted  Securities  under
          the  Securities  Act  pursuant to this  Article IV, the Company  shall
          indemnify  and  hold   harmless  the  seller  of  such  shares,   each
          underwriter  of such shares,  if any,  each broker or any other person
          acting on behalf of such  seller and each other  person,  if any,  who
          controls  any of the  foregoing  persons,  within  the  meaning of the
          Securities  Act,  against any losses,  claims,  damages or liabilities
          (including reasonable attorneys' fees), joint or several, to which any
          of the foregoing  persons may become  subject under the Securities Act
          or otherwise,  insofar as such losses,  claims, damages or liabilities
          (or  actions  in  respect  thereof)  arise out of or are based upon an
          untrue  statement  or alleged  untrue  statement  of a  material  fact
          contained in any  registration  statement  under which such Restricted
          Securities  were  registered  under  the  Securities  Act,  the  final
          prospectus,  any document  incorporated  by  reference  therein or any
          amendment  or  supplement  thereto,  or any document  prepared  and/or
          furnished by the Company incident to the registration or qualification
          of any Restricted Securities pursuant to Article IV hereof,  provided,
          however,  that the Company shall not be liable in any such case to the
          extent that such loss, claim,  damage or liability arises out of or is
          based upon an untrue statement or alleged untrue statement or omission
          or  alleged  omission  of a  material  fact made in said  registration
          statement,  said  prospectus  or said  amendment or  supplement or any
          document   incident  to  the  registration  or  qualification  of  any
          Restricted  Securities  pursuant to Article IV hereof in reliance upon
          and in conformity  with written  information  furnished to the Company
          through an instrument duly executed by such seller or such underwriter
          specifically  for use in the  preparation  thereof  or  arises  out of
          information  relating to any of the foregoing prior to the sale hereby
          as reflected in documents, exhibits and financial statements delivered
          hereunder.

     2.   Each seller  agrees to indemnify and hold harmless (in the same manner
          and to the same extent as set forth in the preceding  paragraph (1) of
          this

                                       4
<PAGE>

          section IV(D) the Company,  each director of the Company, each officer
          of the  Company  who shall sign such  registration  statement  and any
          person who controls the Company  within the meaning of the  Securities
          Act,  with  respect to any untrue  statement or omission of a material
          fact from such  registration  statement,  any  preliminary  prospectus
          contained  therein,   the  final  prospectus,   or  any  amendment  or
          supplement thereto, if such untrue statement or omission of a material
          fact  was  made  in  reliance  upon  and in  conformity  with  written
          information  furnished  to the  Company  through  an  instrument  duly
          executed by such seller or such  underwriter  specifically  for use in
          the preparation of such  registration  statement,  final prospectus or
          amendment  or   supplement.   The  foregoing   shall  not  affect  the
          indemnification obligation of Article IV hereof.

     3.   Promptly  after  receipt  by an  indemnified  party of  notice  of the
          commencement of any actions involving a claim referred to herein, such
          indemnified  party will, if a claim in respect thereof is made against
          an  indemnifying  party,  give  written  notice  to the  latter of the
          commencement  of such  action.  In case any  such  action  is  brought
          against an indemnified  party, the indemnifying party will be entitled
          to participate in and to assume the defense thereof,  jointly with any
          other  indemnifying party similarly notified to the extent that it may
          wish, with counsel reasonably  satisfactory to such indemnified party,
          and after notice from the indemnifying party to such indemnified party
          of its  election so to assume the defense  thereof,  the  indemnifying
          party  shall  not be  responsible  for any  legal  or  other  expenses
          subsequently  incurred by the indemnified party in connection with the
          defense  thereof;  provided,  however,  that if any indemnified  party
          shall have  reasonably  concluded  that there may be one or more legal
          defenses  available to such indemnified party which are different from
          or additional to those  available to the  indemnifying  party, or that
          such claim or litigation involves or could have an effect upon matters
          beyond the scope of the indemnity  agreement  provided in this Article
          IV, the indemnifying  party shall reimburse such indemnified party for
          that portion of the fees and  expenses of any counsel  retained by the
          indemnified party which are reasonably  related to the matters covered
          by the indemnity agreement provided in this Article IV.

     4.   The  failure  to  notify  an   indemnifying   party  promptly  of  the
          commencement  of any such action,  if  materially  prejudicial  to the
          ability of the indemnifying party to defend such action, shall relieve
          such  indemnifying  party of any  liability to the  indemnified  party
          under this Article VI, but the omission so to notify the  indemnifying
          party will not

                                       5
<PAGE>

          relieve the  indemnifying  party of any liability  that it may have to
          any indemnified party otherwise than under this Section IV(D).

     The  indemnifying  party  shall  not  make  any  settlement  of any  claims
indemnified  against  hereunder  without the written  consent of the indemnified
party or parties, which consent shall not be unreasonably withheld.

     F. Holder.  Each Holder shall provide the Company or any  underwriter  with
such documentation and information as is generally customary to be provided by a
seller of registered securities.

                                V. MISCELLANEOUS

     A. This Agreement  shall be governed by and  interpreted in accordance with
the laws of the  State of New  York,  without  regard  to the  conflicts  of law
principles of such state.

     B. This Agreement may be executed in any number of counterparts  and by the
different  parties  hereto  on  separate  counterparts,  each of  which  when so
executed and  delivered  shall be an original,  but all the  counterparts  shall
together  constitute one and the same  instrument.  A facsimile  transmission of
this signed Agreement shall be legal and binding on all parties hereto.

     C. The headings of this  Agreement  are for  convenience  of reference  and
shall not form part of, or affect the interpretation of, this Agreement.

     D.  In the  event  any  one or more  of the  provisions  contained  in this
Agreement  or in  the  other  Documents  should  be  held  invalid,  illegal  or
unenforceable in any respect,  the validity,  legality and enforceability of the
remaining  provisions  contained  herein  or  therein  shall  not in any  way be
affected  or  impaired  thereby.   The  parties  shall  endeavor  in  good-faith
negotiations to replace the invalid,  illegal or  unenforceable  provisions with
valid provisions the economic effect of which comes as close as possible to that
of the invalid, illegal or unenforceable provisions.

     E. This Agreement and the Documents  constitute the entire  agreement among
the parties  pertaining  to the subject  matter  hereof and  supersede all prior
agreements,  understandings,  negotiations  and  discussions,  whether  oral  or
written, of the parties. No supplement, modification or waiver of this Agreement
shall be binding unless executed in writing by all parties.  No waiver of any of
the provisions of this Agreement shall be deemed or shall constitute a waiver of
any other  provision  hereof  (whether  or not  similar),  nor shall such waiver
constitute a continuing waiver unless otherwise expressly provided.

     F.  Except  as may be  otherwise  provided  herein,  any  notice  or  other
communication  or delivery  required or permitted  hereunder shall be in writing
and shall be delivered personally or sent by certified mail, postage prepaid, or
by a nationally recognized overnight courier service,

                                       6
<PAGE>

and shall be deemed given when so delivered  personally or by overnight  courier
service,  or, if mailed,  three (3) days after the date of deposit in the United
States mails, as follows:

                  A.     if to the Company, to:
                         Teltran International Group, Ltd.
                         One Penn Plaza
                         New York, New York 10019

                         with a copy to:

                         Parker Duryee Rosoff & Haft
                         529 Fifth Avenue
                         New York, NY 10017
                         Attention: Michael D. DiGiovanna, Esq.
                         (212) 599-0500
                         (212) 972-9487 (Fax)

                  B.     If to Lender, to:

                         Relocate 411.com Inc.
                         One Penn Plaza
                         New York, NY 10019

     G. This  Agreement  shall not be assignable by either of the parties hereto
prior to the Closing without the prior written  consent of the other party,  and
any attempted  assignment  contrary to the  provisions  hereby shall be null and
void;  provided,  however,  that  Lender may  assign its rights and  obligations
hereunder, in whole or in part, to any Affiliate of Lender.

     IN WITNESS  WHEREOF,  the parties  hereto have duly  executed and delivered
this Agreement on the date first above written.

                                       TELTRAN INTERNATIONAL GROUP, LTD.

                                       By: /s/ Bryon R Lerner
                                          -----------------------------
                                          NAME: Bryon R Lerner
                                          TITLE: president & Ceo

                                          RELOCATE 411.COM, INC.

                                       By:
                                          -----------------------------
                                          NAME:
                                          TITLE:

                                       7

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