Document:

EXHIBIT 4.9
                         LEISUREPLANET HOLDINGS, LTD.

                               PURCHASE AGREEMENT

         THE SECURITIES BEING PURCHASED HEREBY HAVE NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR WITH ANY
SECURITIES REGULATORY AUTHORITY OF ANY JURISDICTION. THESE SECURITIES ARE
OFFERED PURSUANT TO A CLAIM OF EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
FEDERAL AND STATE SECURITIES LAWS.

         THE SECURITIES BEING PURCHASED HEREBY MAY NOT BE SOLD, OFFERED,
PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED UNLESS THE SECURITIES ARE
REGISTERED UNDER THE ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE ACT IS AVAILABLE, THE AVAILABILITY OF WHICH MUST BE ESTABLISHED TO THE
SATISFACTION OF THE COMPANY.

         AGREEMENT by and between Leisureplanet Holdings, Ltd., a Bermuda
corporation (the "Company") and UBS AG, acting through its division Warburg
Dillon Read, and UBS Capital (Jersey) Ltd. (together, the "Purchaser").

                                    RECITALS
                                    --------

         A. The Company is offering to sell 1,379,310 shares of common stock,
$.01 par value of the Company (the "Common Stock") pursuant to the Company's
Confidential Private Placement Memorandum dated November 1999 (the "Memorandum")
to the Purchaser (the "Offering"). For every three shares of the Common Stock
purchased by the Purchaser, the Purchaser shall also receive from the Company an
option (the "Option") to purchase one (1) A ordinary share, 0.1 pence per share,
of LPI Limited, a United Kingdom corporation ("LPI"), which Option is
exercisable at an exercise price of $8.00 per share. The Company may not, except
with the prior written agreement of the Purchaser, increase the number of shares
of Common Stock or the number of shares underlying the Option sold in the
Offering. The Company's Common Stock and the said Option are collectively
referred to herein as the "Securities". The aggregate purchase price for the
Securities is $19,999,995. Value Investing Partners, Inc. (the "Placement
Agent"), is acting as the Company's placement agent in connection with the
Offering.

         B. In reliance upon the respective representations and warranties of
the Purchaser and the Company, and the terms and conditions hereinafter set
forth, the Purchaser desires to subscribe for, and the Company desires to sell
to the Purchaser, the Common Stock and the Option.

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         THEREFORE, in consideration of the Recitals and the undertakings,
covenants, and promises set forth below, the parties, intending to be bound,
agree as follows:

     1.   SALE AND PURCHASE OF SECURITIES.

          1.1 The Purchaser hereby agrees to purchase the number of Securities
set forth on the signature page hereto. Payment shall be made by December 22,
1999, against delivery of the Securities to the Purchaser, which Securities
shall be registered in the name of the Purchaser or its nominee. The date on
which the Securities are purchased and paid for is herein referred to as the
"Closing Date".

          1.2 The obligation of the Purchaser to purchase and pay for the
Securities on the Closing Date pursuant to Section 1.1 is subject to the
satisfaction of the following conditions:

          (a)       The accuracy of the representations and warranties of the
                    Company contained herein as of the date hereof and as of the
                    Closing Date (as if they were being repeated at and as of
                    the Closing Date);

          (b)       Announcement and consummation of the transaction between the
                    Company and CNN on substantially the same financial and
                    operational terms as those contained in the Memorandum of
                    Understanding previously provided to the Purchaser for
                    review;

          (c)       Execution by the Company and LPI Limited of an engagement
                    agreement appointing Warburg Dillon Read as global
                    co-ordinator and sole book-runner of the IPO of LPI Limited
                    substantially in the form of the draft previously provided
                    to the Company by Warburg Dillon Read;

          (d)       Execution of the Option Agreement; and

          (e)       Receipt by the Purchaser of a legal opinion, dated the
                    Closing Date, from Bermuda counsel to the Company, covering
                    the issuance of the Securities, the execution of this
                    Agreement and the Option Agreement.

     2. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. In consideration for the
Purchaser agreeing to subscribe for the Securities from the Company, the Company
hereby represents and warrants to the Purchaser as follows:

          2.1 The Company has been duly organized and is validly existing as a
corporation in good standing under the laws of Bermuda. Each of First South
African Holdings Pty. Ltd., First Lifestyle Holdings Limited and LPI Limited,
has been duly organized, and is validly existing and is in good standing in the
jurisdiction of its formation. The Company owns, directly or indirectly, the
shares in its subsidiaries that it purports to own, free and clear of any liens,
claims

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encumbrances or options, except for such as have been disclosed in writing to
the Purchaser prior to the date hereof.

          2.2 All necessary corporate action has been duly and validly taken by
the Company to authorize the execution, delivery, and performance of this
Agreement by the Company and the issuance and sale of the Securities to be sold
by the Company pursuant to this Agreement. This Agreement and the Securities
have been duly and validly authorized, and this Agreement has been duly and
validly executed and delivered by the Company, and constitutes, and the
Securities, when executed and delivered in accordance with this Agreement, will
constitute, the legal, valid, and binding obligations of the Company enforceable
against the Company in accordance with their terms, except as the enforceability
thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or
other similar laws affecting the enforcement of creditors' rights generally and
by general equitable principles.

          2.3 The Company has all such corporate power and authority, and such
authorizations, approvals, consents, orders, licenses, certificates and permits
to enter into, deliver and perform its obligations under this Agreement and the
Securities.

          2.4 The Memorandum as of its date did not, as of the date hereof does
not, and as of the Closing Date will not, and each supplement or amendment
thereto as of its date will not, contain any untrue statement of a material fact
or omit to state any material fact necessary in order to make the statements
therein, in light of the circumstances under which they were made, not
misleading. All other information provided to the Purchaser by the Company or
the Placement Agent with respect to the Company and its subsidiaries was
accurate and complete in all material respects when so provided.

          2.5 The Securities (including the shares underlying the Option) when
issued and delivered to and paid for by the Purchaser as provided in this
Agreement will be duly and validly issued, fully paid, and non-assessable, and
none will have been issued in violation of any preemptive or similar right.

          2.6 Neither the execution, delivery, and performance of this Agreement
nor the consummation of any of the transactions contemplated hereby will give
rise to a right to terminate or accelerate the due date of any payment due
under, or conflict with or result in the breach of any term or provision of, or
constitute a default (or an event which with notice or lapse of time or both
would constitute a default) under, or require any consent or waiver under, or
result in the execution or imposition of any lien, charge, or encumbrance upon
any properties or assets of the Company or LPI, pursuant to the terms of, any
indenture, mortgage, deed or trust, or other agreement or instrument to which
the Company or LPI is a party or by which any of their respective properties is
bound, or any franchise, license, permit, judgment, decree, order, statute, rule
or regulation applicable to the Company or LPI, or will violate any provision of
the charter or bylaws of the Company or LPI, (except for such consents or
waivers which have already been obtained and are in full force and effect,)
which would have a material adverse effect on the ability of the Company to

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consummate the transactions contemplated hereby or on the financial condition
and results of operations of the Company and LPI taken as a whole or
individually.

          2.7 As of the date hereof, the Company would be eligible to file a
Registration Statement on Form S-3 under the Act for the shares of Common Stock
on behalf of the holders thereof.

          2.8 The Company has been subject to the reporting requirements under
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and has
filed for the past twelve (12) months all reports to be filed thereunder, and
such reports are complete and correct. There is no material information relating
to the Company and LPI that has not been disclosed to the public. The Company
agrees to maintain its reporting status under the Exchange Act and to file all
reports required thereunder when due.

          2.9 Except as disclosed in the Memorandum there are no material
claims, actions, suits, proceedings, arbitrations, investigations or inquiries
before any governmental agency, court or tribunal, domestic or foreign, pending,
or to the Company's knowledge, threatened, against the Company.

          2.10 Except as disclosed in the Memorandum or reflected or reserved
against in the financial statements included in the Company's Form 10-Q for the
fiscal quarter ended September 30, 1999, the Company, on a consolidated basis,
had no liabilities, debts, obligations or claims, whether accrued, contingent,
absolute or otherwise, whether due or to become due, except to the extent such
liabilities were incurred in the ordinary course of business and would not have
a material adverse effect on the Company and its subsidiaries, taken as a whole,
other than continued losses suffered by LPI Limited.

          2.11 The Common Stock is listed on The Nasdaq National Stock Market.
For as long as the Purchaser is the beneficial owner of the Common Stock, the
Company shall use its best efforts to maintain the listing of the Common Stock
on The Nasdaq Stock Market or another national exchange.

          2.12 The Company shall use the proceeds of the Offering substantially
in the manner described in the section of the Memorandum captioned "Use of
Proceeds."

          2.13 Schedule 2.13 to this Agreement sets out accurately and
completely: (a) the outstanding indebtedness of the Company and its subsidiaries
as at September 30, 1999, which has not materially changed since that date; (b)
to the extent of 99% accuracy, the number of shares of each class in the Company
and LPI currently outstanding (issued); and (c) to the extent of 99% accuracy,
the number of shares of each class in the Company and LPI currently subject to
warrants, options or other rights and the proceeds that would arise from the
exercise of such warrants, options or other rights.

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     3. REPRESENTATIONS AND WARRANTIES OF THE PURCHASER. The Purchaser, hereby
represents and warrants to the Company as follows:

          3.1 The Purchaser acknowledges receipt of the Memorandum, setting
forth the terms of the Offering. The Purchaser, or his advisor, has carefully
reviewed the Memorandum, and as such understands the characteristics of the
Securities.

          3.2 The Purchaser is aware that the offer and sale of the Securities
have not been registered under the Act, in reliance upon an exemption under the
Act and that the Securities constitute "restricted securities" under Rule 144 of
the Act. The Purchaser represents, covenants, and agrees not to sell the
Securities unless registered under the Act, or pursuant to an exemption from
registration under the Act such as by reason of Rule 144 or Regulation S under
the Act, or the private placement exemption, and any applicable securities laws
under any state in the United States ("State Acts"), and agrees not to engage in
any hedging transaction with regard to the Securities except in compliance with
the Act and State Acts. The Purchaser understands that, except as provided
below, the Company is under no obligation to register the Common Stock, the
Option, or the shares underlying the Option, or to assist the Purchaser in
complying with any exemption from registration under the Act, except for
providing any necessary instructions or opinions to the Company's transfer
agent.

          3.3 The Purchaser agrees that a legend may be placed on any
certificate or certificates evidencing the Securities, stating that such
Securities have not been registered under the Act and setting forth or referring
to the restrictions on transfers and sales thereof; and the Company may place
stop transfer instructions against the Securities and the certificates
evidencing the Securities to restrict their transfer.

          3.4 The Purchaser has been provided with the opportunity to discuss
the terms and conditions of the Offering and the business of the Company and LPI
Limited with members of management and to review all relevant financial
information, books, records, and other information concerning the Company and
LPI Limited, and the Securities to be issued, such that the Purchaser is
familiar with the business, finances, and general prospects for the future of
the Company and LPI Limited.

          3.5 The Purchaser has the full right, power, and authority to enter
into this Agreement and to carry out and consummate the purchase of the
Securities contemplated herein. This Agreement constitutes the legal, valid, and
binding obligation of the Purchaser, enforceable against the Purchaser in
accordance with its terms, except as the enforceability thereof may be limited
by bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting the enforcement of creditors' rights generally and by general
equitable principles.

          3.6 The Purchaser, or its adviser, has such knowledge and experience
in financial and business matters that the Purchaser is capable of evaluating
the merits and risks of, and protecting his interests in connection with, a
purchase of the Securities. The Purchaser is acquiring

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the Securities for its own account and is not a "distributor" of the Securities
within the meaning of Regulation S under the Act. The Purchaser is financially
able to hold the Securities for an indefinite period.

                  3.7      Initial One:

________a.     The Purchaser is not a "U.S. person" as such term is defined
               under the Act ("U.S. Person") nor is the Purchaser acquiring the
               Securities for the account or benefit of any U.S. Person. The
               Purchaser understands that a U.S. Person includes (a) any natural
               person resident in the United States; (b) any partnership or
               corporation organized or incorporated under any state in the
               United States; (c) any estate of which any executor or
               administrator is a U.S. Person; (d) any trust of which any
               trustee is a U.S. Person; (e) any agency or branch of a foreign
               entity located in the United States; (f) any non-discretionary
               account or similar account (other that an estate or trust) held
               by a dealer or other fiduciary organized, incorporated, or (if an
               individual) resident in the United States; and (g) any
               partnership or corporation (i) organized or incorporated under
               the laws of any foreign jurisdiction and (ii) formed by a U.S.
               Person principally for the purpose of investing in securities not
               registered under the Act, unless it is organized or incorporated,
               and owned by accredited investors (as defined in Rule 501(a)
               under the Act) who are not natural persons, estates, or trusts.
               The Purchaser, if an individual, has a net worth equal to or
               greater than U.S. $1 million, and is a resident of the country
               set forth on the signature page. The Purchaser, if a partnership,
               corporation, limited liability company, or other entity, has a
               net worth equal to or greater than U.S. $5 million and has not
               been formed for the purpose of making this investment. The
               Purchaser is making this subscription from its offices at the
               address set forth below. The Purchaser understands that the
               exemption afforded by Regulation S requires that the purchasers
               of the Securities not be in the United States when the offer is
               made. The purchase of the Securities hereunder by the Purchaser
               is in accordance with all securities and other laws of the
               jurisdiction in which it is incorporated or legally resident.
               This Agreement has not been executed or delivered by the
               Purchaser in the United States.

______b.       The Purchaser satisfies the definition of "accredited investor"
               as set forth in Rule 501(a) of Regulation D under the Act, and
               the Purchaser has adequate means for providing for his current
               financial needs and contingencies, has no need for liquidity in
               the investment contemplated hereby and is able to bear the risk
               of loss of its entire investment, or the Purchaser is a
               "qualified institutional buyer," as such term is defined in Rule
               144A under the Act.

               3.8 Except as set forth herein and in the Memorandum, no
representations, assurances, or warranties have been made to the Purchaser or
its adviser, by the Company, LPI, or the Placement Agent, any of their
respective officers, directors, agents, employees or affiliates, or by anyone
else on their behalf, concerning the future profitability of the Company or LPI,
or the tax

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consequences of the Purchaser's ownership of the Securities. In
entering into this transaction the Purchaser is not relying upon any
information, other than that contained herein and in the Memorandum and in the
other information presented to the Purchaser by the Company or the Placement
Agent, and the results of its own independent investigation.

     4.       REGISTRATION OF THE COMMON STOCK.

               4.1 On or before January 31, 2000, the Company shall file with
the Securities and Exchange Commission (the "Commission") a registration
statement on a Form S-3, if eligible, or on such other form available for use by
the Company, covering the sale of the Common Stock by the Purchaser from time to
time through The Nasdaq Stock Market or the facilities of any national
securities exchange on which the Common Stock is then traded. The Company shall
use its best efforts to cause the registration statement to become effective
within 60 days after the registration statement is filed by the Company.

               4.2 The Company shall use its best efforts (including, without
limitation, preparation of necessary post-effect amendments and supplements) to
cause the registration statement to remain effective until the earlier of (a)
the sale of all shares of Common Stock being sold pursuant thereto, or (b) two
years following the date hereof (or any additional period that Purchaser is
required to deliver a Prospectus if it is deemed an "affiliate"). The Company
shall ensure that at all times the registration statement and the related
prospectus shall comply with the requirements of the Act and shall not contain a
misstatement or omission of a material fact.

               4.3 The Company shall furnish to the Purchaser such number of
copies of the prospectus as the Purchaser may reasonably request in order to
effect the sale of the Common Stock to be offered and sold by the Purchaser; but
only while the Company is required to cause the registration statement to remain
current.

               4.4 The Company shall use its best efforts to qualify the
offering under applicable blue sky or other securities laws of such
jurisdictions as may be specified by the Purchaser; provided, however, that the
Company shall not be obligated to qualify as a foreign corporation to do
business under the laws of any jurisdiction in which it is not then qualified or
to file any general consent to service of process.

               4.5 The Company shall bear all expenses in connection with
registration of the Common Stock pursuant to this Article 4, other than fees and
expenses, if any, of counsel or other advisers to the Purchaser and any expenses
related to the sale of the Common Stock, including, without limitation, broker's
discounts, commissions, or fees of any nature and transfer taxes or fees of any
nature.

               4.6 It shall be a condition precedent to the obligations of the
Company to take any action with respect to registering the Common Stock that the
Purchaser furnish the Company in writing such information regarding the
Purchaser, the Common Stock, and other securities of the

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Company held by the Purchaser, and the distribution of such securities as the
Company may from time to time reasonably request in writing.

               4.7 The Purchaser agrees to notify the Company, at any time when
a prospectus is required to be delivered under the Act, upon discovery that, or
upon knowledge of the happening of any event a result of which, the prospectus
included in such registration statement, as then in effect, includes with
respect to the Purchaser, or which it believes includes with respect to the
Company, an untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary to make a statement therein not
misleading in light of the circumstances under which they were made. The
Purchaser may also notify the Company, at any such time, if it believes the
prospectus includes with respect to the Company any such untrue statement or
omission (but the failure to so notify the Company shall not excuse the Company
from any of its obligations to the Purchaser hereunder). Promptly upon receipt
of any such notice, the Company will amend or supplement the registration
statement to include such information.

               4.8 The Purchaser agrees to discontinue the Purchaser's
disposition of Common Stock pursuant to a registration statement relating to
such Common Stock, upon notice from the Company that it must amend or supplement
the registration statement based upon advice of counsel or administrative
requirement. The Company will use its best efforts to promptly amend or
supplement the registration statement so as to permit the Purchaser to continue
sales thereunder.

               4.9 The Purchaser agrees to discontinue the Purchaser's
disposition of Common Stock pursuant to a registration statement relating to
such Common Stock during the 7 days prior to, and during the 180-day period (or
such shorter period to which the Company is subject) which begins on the
effective date of a registration statement in connection with an underwritten
public offering, if required by the managing underwriter in such underwritten
offering.

               4.10 In the event the Company satisfies its registration
obligation pursuant to this Article 4 pursuant to an underwritten public
offering, the Purchaser agrees that, if required by the managing underwriter in
such underwritten offering, it will not dispose of its shares of Common Stock
during the 7 days prior to, and during the 180-day period (or such shorter
period to which the Company is subject) which begins on the effective date of
such registration statement in connection with an underwritten public offering.

     5.       INDEMNIFICATION.

               5.1 To the extent permitted by law, the Company will, and hereby
does, indemnify and hold harmless the Purchaser, officers and directors of the
Purchaser, each other person who participates as an underwriter in the offering
or sale of such securities and each other person, if any, who controls the
Purchaser within the meaning of the Act, against any losses, claims, damages or
liabilities, joint or several, to which the Purchaser or any underwriter or
controlling person may become subject under the Act or otherwise, insofar as
such losses, claims, damages or

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liabilities (or actions or proceedings, whether commenced or threatened, 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
under which the Common Stock were registered under the Act, any preliminary
prospectus, final prospectus or summary prospectus contained therein, or any
amendment or supplement thereto, or any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, and the Company will reimburse the Purchaser
and each such underwriter and controlling person for any legal or any other
expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, liability, action or proceeding; provided that
the Company shall not be liable in any such case to the extent that any such
loss, claim, damage, liability (or action or proceeding in respect thereof) or
expense arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission made in such registration statement,
any such preliminary prospectus, final prospectus, summary prospectus, amendment
or supplement in reliance upon and in conformity with written information
furnished to the Company by the Purchaser expressly for use in the preparation
thereof, provided further that the Company shall not be liable to any person who
participates as an underwriter in the offering or sale of Common Stock or any
other person, if any, who controls such underwriter within the meaning of the
Act, in any such case to the extent that any such loss, claim, damage, liability
(or action or proceeding in respect thereof) or expense arises out of such
person's failure to send or give a copy of the final prospectus, as the same may
be then supplemented or amended, to the person asserting an untrue statement or
alleged untrue statement or omission or alleged omission at or prior to the
written confirmation of the sale of the Common Stock to such person if such
statement or omission was corrected in such final prospectus. Such indemnity
shall remain in full force and effect regardless of any investigation made by or
on behalf of the Purchaser or any such underwriter or controlling person and
shall survive the transfer of such securities by the Purchaser.

               5.2 To the extent permitted by law, the Purchaser will, and
hereby does, indemnify and hold harmless each underwriter, each person who
controls such underwriter within the meaning of the Act, the Company, each
director of the Company, each officer of the Company who signs the registration
statement and each other person, if any, who controls the Company within the
meaning of the Act against any losses, claims, damages, or liabilities, joint or
several, to which the Company, or such director, officer, underwriter, or
controlling person may become subject under the Act or otherwise, insofar as
such losses, claims, damages or liabilities (or actions or proceedings, whether
commenced or threatened, in respect thereof) arise out of or are based upon any
untrue statement or alleged untrue statement in, or omission or alleged omission
from, such registration statement, any preliminary prospectus, final prospectus
or summary prospectus contained therein, or any amendment or supplement thereto,
if such statement or alleged statement or omission or alleged omission was made
in reliance upon and in conformity with written information furnished to the
Company by the Purchaser expressly for use in the preparation of such
registration statement, preliminary prospectus, final prospectus, summary
prospectus, amendment or supplement; provided that the Purchaser shall not be
liable to any person who participates as an underwriter in the offering or sale
of the Common Stock or any other person who controls such

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underwriter within the meaning of the Act, in any such case to the extent that
any such loss, claim, damage, liability (or action or proceeding in respect
thereof) or expense arises out of such person's failure to send or give a copy
of the final prospectus, as the same may be then supplemented or amended, to the
person asserting an untrue statement or alleged untrue statement or omission or
alleged omission at or prior to the written confirmation of the sale of the
Common Stock to such person if such statement or omission was corrected in such
final prospectus. Such indemnity shall remain in full force and effect,
regardless of any investigation made by or on behalf of any underwriter, the
Company or any such director, officer or controlling person and shall survive
the transfer of such securities by the Purchaser.

               5.3 If the indemnification provided for in this Section 5 from
the indemnifying party is unavailable to an indemnified party hereunder in
respect of any losses, claims, damages, liabilities or expenses referred to
therein, then the indemnifying party, in lieu of indemnifying such indemnified
party, shall contribute to the amount paid or payable by such indemnified party
as a result of such losses, claims, damages, liabilities or expenses in such
proportion as is appropriate to reflect the relative fault of the indemnifying
party and indemnified parties in connection with the actions which resulted in
such losses, claims, damages, liabilities or expenses, as well as any other
relevant equitable considerations. The relative fault of such indemnifying party
and indemnified parties shall be determined by reference to, among other things,
whether any action in question, including any untrue or alleged untrue statement
of a material fact or omission or alleged omission to state a material fact, has
been made by, or relates to information supplied by, such indemnifying party or
indemnified parties, and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such action. The amount paid
or payable by a party as a result of the losses, claims, damages, liabilities
and expenses referred to above shall be deemed to include any legal or other
fees or expenses reasonably incurred by such party in connection with any
investigation or proceeding.

                  The parties hereto agree that it would not be just and
equitable if contribution pursuant to this Section 5 were determined by pro rata
allocation or by any other method of allocation which does not take account of
the equitable considerations referred to in the immediately preceding paragraph.
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.

               5.4 Indemnification similar to that specified in the preceding
subdivisions of this Article 5 (with appropriate modifications) shall be given
by the Company and the Purchaser with respect to any required registration or
other qualification of securities under any federal or state law or regulation
of any governmental authority other than the Act.

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     6.       MISCELLANEOUS.

               6.1 This Agreement shall be binding upon and inure to the benefit
of the parties, their respective legal representatives, heirs, successors,
assigns and transferees. Without limiting the generality of the foregoing, the
registration rights conferred in Article 4 inure to the benefit of any and all
subsequent holders of the Common Stock. Such subsequent holders, by taking and
holding such Common Stock, shall be conclusively deemed to have agreed to be
bound by and to all of the terms and provisions of this Agreement.

               6.2 This Agreement sets forth the entire agreement and
understanding of the parties in respect of the subject matter hereof and
supersedes all prior agreements, arrangements, and understandings relating to
the subject matter hereof.

               6.3 This Agreement may be executed in counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same
instrument. This Agreement may be delivered by telecopy, facsimile transmission,
or other electronic transmission, all with the same effect as if the same was a
duly delivered original manual counterpart.

               6.4 This Agreement shall be governed and construed by the laws of
the state of New York, without giving effect to conflicts of law.

               6.5 Each of the parties hereto hereby irrevocably consents and
submits to the non-exclusive jurisdiction of the United States District Court
for the Southern District of New York in connection with any proceeding arising
out of or relating to this Agreement or the transactions contemplated hereby,
waives any objection to venue in such District (unless such court lacks
jurisdiction with respect to such proceeding, in which case, each of the parties
hereto irrevocably consents to the jurisdiction of the courts of the State of
New York in connection with such proceeding and waives any objection to venue in
the State of New York).

               6.6 Any notice, report, demand, waiver, consent or other
communication given by a party under this Agreement (each a "Notice") shall be
in writing, may be given by a party or its legal counsel, and shall be deemed to
be duly given (i) when personally delivered, or (ii) upon delivery by an
internationally recognized overnight courier service which provides evidence of
delivery, or (iii) when five (5) days have elapsed after its transmittal by
registered or certified mail, postage prepaid, return receipt requested,
addressed to the party at that party's address as it appears below or another
address of which that party has given notice or (iv) when delivered by facsimile
transmission if a copy thereof is also subsequently delivered in person, by
overnight courier or by registered or certified mail as contemplated above.
Notices of address change shall be effective only upon receipt notwithstanding
the provisions of the foregoing sentence.

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<PAGE>

         Notice to the Company shall be sufficient if given to:

                  Leisureplanet Holdings, Ltd.
                  1348 Washington Avenue, Suite 155
                  Miami, Florida  33139
                  Attn: Clive Kabatznik
                  Fax: (305) 856-4057

         With a copy to:

                  (Prior to January 21, 2000):
                  Parker Chapin Flattau & Klimpl, LLP
                  1211 Avenue of the Americas
                  New York, New York        10036
                  Attn: Henry I. Rothman, Esq.
                  Fax: (212) 704-6288

                  (After January 21, 2000):
                  Parker Chapin LLP
                  The Chrysler Building
                  405 Lexington Avenue
                  New York, New York 10174
                  Attn: Henry I. Rothman
                  Fax: (212) 704-6288

         Notice to the Purchaser shall be sufficient if given to:

                  Robert Kahn
                  UBS Capital
                  100 Liverpool Street
                  London EC2M2RH
                  Fax:  0207 568 7003

                           and

                  Warburg Dillon Read
                  a division of UBS A9
                  2 Finsbury Avenue
                  London EC2M 2PP
                  Attn:  Tom Cooper
                  Fax:  0207 568 0901

                                      -12-

<PAGE>

6.7 Throughout this Agreement, where such meanings would be appropriate, the
masculine shall be deemed to include the feminine and the neuter and the
singular shall be deemed to include the plural.

                                      -13-

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement on the
dates set forth below:

         UBSAG, acting through its division       Subscribed for:
                Warburg Dillon Read
         By:                                      1,379,310 Shares, $14,500,000
            -------------------------------       ---------          ----------

         UBS Capital (Jersey) Ltd.

         By:                                        459,700 Option, $ 5,499,995
            --------------------------------        -------           ---------

                                      -14-

<PAGE>

THE PURCHASER MUST INITIAL SUBSECTION (a) OR (b) OF SECTION 3.

Registration Instructions:

(If the Common Stock is to be registered in a
 name different from that of the Purchaser)

---------------------------------   --------------------------------------
Name                                                 Contact Name

---------------------------------   --------------------------------------
Account Reference (if applicable)           Contact Telephone Number

--------------------------------
Street or P. O. Box

--------------------------------
City and State

                                      -15-

<PAGE>

The foregoing offer of the Purchaser to subscribe for the Common Stock and the
Option is hereby accepted in full

Agreed to:

LEISUREPLANET HOLDINGS, LTD.

By:______________________________

Name:____________________________

Title:_____________________________

Date:_____________________________

                                      -16-EXHIBIT 4.10

NEITHER THE SECURITY EVIDENCED BY THIS WARRANT NOR THE SECURITIES ISSUABLE UPON
EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR ANY APPLICABLE STATE LAW, AND NO INTEREST HEREIN OR THEREIN MAY
BE SOLD, DISTRIBUTED, ASSIGNED, OFFERED, PLEDGED OR OTHERWISE TRANSFERRED UNLESS
(A) THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE
STATE SECURITIES LAWS COVERING ANY SUCH TRANSACTION INVOLVING SAID SECURITIES,
(B) THE COMPANY RECEIVES AN OPINION OF LEGAL COUNSEL FOR THE HOLDER OF SAID
SECURITIES (REASONABLY CONCURRED WITH BY LEGAL COUNSEL FOR THE COMPANY) STATING
THAT SUCH TRANSACTION IS EXEMPT FROM REGISTRATION, OR (C) THE COMPANY OTHERWISE
SATISFIES ITSELF THAT SUCH TRANSACTION IS EXEMPT FROM REGISTRATION.

No. ____
ISSUED: ______________, 1999
VOID AFTER: ___________, 2004

                          LEISUREPLANET HOLDINGS, LTD.

         THIS IS TO CERTIFY that, subject to the terms and conditions hereof,
InfoSpace.com, Inc. (the "Holder") or assigns is entitled, at any time on or
after the date hereof but not later than 5:00 p.m., Seattle time, on June 30,
2004 (the "Exercise Period"), subject to the provisions hereof, to purchase in
whole or from time to time in part up to 720,000 fully paid and nonassessable
shares of Common Stock, $.01 par value per share, of LeisurePlanet Holdings,
Ltd., a Bermuda corporation (the "Company"), at a price of $.01 per share (the
"Exercise Price") (such number of shares subject to this Warrant and such
Exercise Price being subject to adjustment as provided herein). As used herein,
the term "Warrant Stock" shall mean the Company's Common Stock. This Warrant is
being issued pursuant to an Internet Promotion Agreement dated as of June 30,
1999 between the Holder, LPI, Ltd. ("LeisurePlanet") and the Company (the
"Promotion Agreement"). All capitalized terms used but not otherwise defined
herein shall have the meaning ascribed to such terms in the Promotion Agreement.

1. EXERCISE

     1.1 WARRANT STOCK ELIGIBLE TO BE PURCHASED

          1.1.1 VESTING OF WARRANTS

         Subject to the provisions of Section 1.1.2, the rights to purchase
Warrant Stock shall vest according to the following schedule:

<PAGE>

                                                 NUMBER OF SHARES OF WARRANT
                                               STOCK ELIGIBLE TO BE PURCHASED
           VESTING DATE                           (THE "ELIGIBLE SHARES")
-------------------------------------  -------------------------------------
----------------------------------------------------------------------------
      September 30, 1999                                120,000
----------------------------------------------------------------------------
      December 31, 1999                                 120,000
----------------------------------------------------------------------------
      March 31, 2000                                    120,000
----------------------------------------------------------------------------
      June 30, 2000                                     120,000
----------------------------------------------------------------------------
      September 30, 2000                                120,000
----------------------------------------------------------------------------
      December 31, 2000                                 120,000
----------------------------------------------------------------------------

               1.1.2    CONDITION TO VESTING

         During the three-month preceding a Vesting Date, if Holder shall be in
material breach as to the integration of the material elements of Items 1-8
listed in Section 4.1(b) of the Promotion Agreement or with respect to the
placement of the Promotional Placements related to Items 1-8 as described in
Exhibit B of the Promotion Agreement, LeisurePlanet shall give InfoSpace written
notice specifying the nature of such breach. If the breach is not reasonably
cured by InfoSpace within fifteen (15) days after receipt by InfoSpace of such
notice, then the Eligible Shares that would otherwise vest on such Vesting Date
shall not vest as of such date and shall not be eligible to be purchased
pursuant to this Warrant. Holder shall not be held accountable for its inability
to maintain integration where such integration is dependent upon LeisurePlanet's
technology or technical support and in such case this Warrant shall vest in full
in accordance with its terms.

               1.1.3 TERMINATION OF VESTING; ACCELERATED VESTING

         In the event that the Promotion Agreement is terminated for any reason
other than as a result of a material breach by the Company, then all future
vesting shall terminate as of the date of such termination, and any shares of
Warrant Stock that are unvested on such date shall not be eligible to be
purchased pursuant to this Warrant. In the event that InfoSpace.com terminates
the Promotion Agreement due to a material breach by the Company that is not
cured as provided in Section 6.2 of the Promotion Agreement, then this Warrant
shall vest in full upon such termination and all shares of Warrant Stock shall
become Eligible Shares.

         1.2 PROCEDURE FOR EXERCISE

         Subject to the foregoing, this Warrant may be exercised by the Holder,
as to those shares of Warrant Stock for which this Warrant is then exercisable
as determined in accordance with Section 1.1, at any time during the Exercise
Period in whole or part by delivering to the Company, at the address of the
Company set forth in Section 17, (a) the form of Exercise Notice attached hereto
duly completed and executed by the Holder, (b) this Warrant certificate, and (c)
cash or a bank cashier's check payable to the Company in the amount of the
Exercise Price multiplied by the

<PAGE>

number of shares for which this Warrant is being exercised (the "Purchase
Price"). The Holder will be deemed to be the holder of record of the shares of
Common Stock as to which the Warrant was exercised in accordance with this
Warrant, effective at the close of business, Seattle time, on the date such
exercise is completed and all documents specified above are delivered to the
Company.

         1.3 NET EXERCISE

         Notwithstanding the payment provisions set forth above, the Holder may
elect to exercise this Warrant by converting this Warrant into shares of Warrant
Stock as provided in this Section 1.3, such election to be effected by surrender
of this Warrant at the principal office of the Company, together with the Notice
of Exercise indicating such election, in which case the Company shall issue to
the Holder the number of shares of Warrant Stock determined as follows:

                                            X = Y (A-B)
                                                -------
                                                     A

Where:              X =    the number of shares of Warrant Stock to be issued
                    Y =    the number of shares of Warrant Stock as to which the
                           Warrant is being exercised
                    A =    the Fair Market Value (as defined below) of one (1)
                           share of Warrant Stock B = the Exercise Price

         For purposes of this Section 1.3, the Fair Market Value of a share of
Warrant Stock shall mean:

               1.3.1 The average of the closing bid and asked prices
of the Warrant Stock quoted in the Over-the-Counter Market Summary or the
closing price quoted on the Nasdaq National Market or any exchange on which the
Common Stock is listed, whichever is applicable, as published in the Western
Edition of The Wall Street Journal for the ten trading days prior to the date of
determination of fair market value;

               1.3.2 If the Warrant Stock is not traded Over-the-Counter or on
the Nasdaq National Market or an exchange, fair market value of the Warrant
Stock per share shall be the price per share which the Company could obtain from
a willing buyer for shares sold by the Company from authorized but unissued
shares of Warrant Stock as such price shall be agreed by the parties hereto, or
if agreement cannot be reached within five (5) business days of delivery of the
notice pursuant to Section 1(b) hereof, as shall be determined by a panel of
appraisers. One appraiser shall be selected by the Holder, one appraiser shall
be chosen by the Company and the third appraiser shall be chosen by the first
two appraisers. If the appraisers cannot reach agreement as to the fair market
value on the foregoing basis on or before the thirtieth (30th) day following the
Holder's notice of election pursuant to this Section 1.3, then each appraiser
shall deliver its appraisal and the appraisal which is neither the highest nor
the lowest shall be the fair market value of a share of Warrant Stock. In the
event that the Company fails to choose an appraiser or the three appraisers fail
to deliver an appraisal on or before the thirtieth (30th) day after such notice,
the appraisal of the appraiser selected by the Holder shall control and shall be
fair market value for the purposes of this Warrant. The cost of the appraiser
selected by each party shall be borne by that party and the cost of the third
appraiser shall

<PAGE>

be borne one-half (1/2) by each party. In the event that the
Company does not select an appraiser or three appraisals are not received on or
before the thirtieth (30th) day after such notice of election, the Company shall
pay one-half (1/2) the cost of the Holder's appraiser. Appraisers selected under
this Section 1.3.2 must be unaffiliated with the Holder and the Company and must
have reasonable professional qualifications for the appraisal.

               1.3.3 In the event this Warrant is exercised in connection with a
public offering of Common Stock, the Fair Market Value per share shall be deemed
to be equal to the per share offering price to the public of the public
offering. In such event, at the election of the Holder, this Warrant may be
exercised contingent upon and effective as of the closing of such public
offering and, at the election of the Holder, the exercise of this Warrant may be
further conditioned upon the sale in conjunction with such public offering of
all or a portion of the shares of Warrant Stock.

               1.3.4 In conjunction with a Reorganization (as defined in Section
4), then the Fair Market Value per share shall be the value received by the
holders of Warrant Stock pursuant to such transaction for each share of Warrant
Stock, and such purchase shall be effective upon the closing of such
transaction, subject to the due, proper and prior surrender of this Warrant.

2.   DELIVERY OF STOCK CERTIFICATE

     Within twenty days after the exercise of this Warrant (in full or in part)
and payment of the Purchase Price then due, the Company at its expense shall
issue in the name of and deliver to the Holder (a) a certificate or certificates
for the number of fully paid and nonassessable shares of Warrant Stock to which
the Holder shall be entitled upon such exercise and (b) if applicable, a new
Warrant of like tenor to purchase up to that number of shares of Warrant Stock,
if any, as to which this Warrant shall not have been previously exercised by the
Holder or repurchased by the Company.

3. COVENANTS AS TO WARRANT STOCK

     The Company covenants and agrees that the Company will at all times have
authorized and reserved a sufficient number of shares of Warrant Stock to
provide for the exercise of the rights represented by this Warrant. The Company
further covenants that all shares of Warrant Stock which may be issued upon the
exercise of the rights represented by this Warrant, will, upon issuance, be
validly issued, fully paid and non-assessable and free from all taxes, liens and
charges solely with respect to the issuance thereof. The Company further
covenants and agrees that the Company will from time to time take all such
action as may be requisite to assure that the stated or par value per share of
Warrant Stock is at all times equal to or less than the then effective Exercise
Price per share of Warrant Stock issuable upon exercise of this Warrant. If and
so long as the Common Stock issuable upon the exercise of the rights represented
by this Warrant is listed on any national securities exchange or quotation
system, the Company will, if permitted by the rules of such exchange or
quotation system, use its best efforts to list and keep listed on such exchange
or quotation system, upon official notice of issuance, all shares of such
capital stock.

<PAGE>

4.   TERMINATION UPON REORGANIZATION

     Simultaneous with the closing of a merger, consolidation, acquisition of
all or substantially all of the assets or stock, of the Company by another
entity (the "Surviving Entity") as a result of which the stockholders of the
Company will own less than 50% of the voting capital stock of the surviving
entity or the entity that controls such surviving entity immediately after the
transaction or, in the case of a sale of assets, the Company will own after the
transaction less than 50% of the assets owned by the Company prior to the
transaction (collectively, a "Reorganization") prior to the expiration of the
Exercise Period, as a result of which the stockholders of the Company receive
cash, stock or other property in respect of their shares of Warrant Stock, this
Warrant shall be canceled and all rights granted hereunder shall terminate;
provided, however, that (a) the Company shall have delivered to the Holder
notice of the Reorganization no less than thirty (30) business days before the
date scheduled for closing of the Reorganization, and (b) at the closing of such
Reorganization this Warrant will be exchanged for a warrant to purchase such
kind and number of shares of capital stock or other securities or property of
the Company or the Surviving Entity to which the Holder would have been entitled
if it had held the Warrant Stock issuable upon the exercise hereof immediately
prior to such Reorganization, which warrant shall have the same terms and
conditions hereof.

5.   ADJUSTMENTS FOR CERTAIN ISSUANCES

     5.1 STOCK SPLITS AND REVERSE STOCK SPLITS

     If the Company shall issue any shares of Warrant Stock as a stock
dividend or subdivide the number of outstanding shares of Warrant Stock into a
greater number of shares, then, in either such case, the Exercise Price in
effect before such dividend or subdivision shall be proportionately reduced and
the number of shares of Warrant Stock at that time purchasable pursuant to this
Warrant shall be proportionately increased; and, conversely, if the Company
shall reduce the number of outstanding shares of Warrant Stock by combining such
shares into a smaller number of shares, then the Exercise Price in effect before
such combination shall be proportionately increased and the number of shares of
Warrant Stock at that time purchasable pursuant to this Warrant shall be
proportionately decreased. Upon each adjustment in the Exercise Price pursuant
to this Section 5, the number of shares of Warrant Stock purchasable hereunder
shall be adjusted, to the nearest whole share, to the product obtained by
multiplying such number of shares purchasable immediately prior to such
adjustment in the Exercise Price by a fraction, the numerator of which shall be
the Exercise Price immediately prior to such adjustment and the denominator of
which shall be the Exercise Price immediately thereafter. The Holder shall be
entitled to the same notice and information regarding such dividend or
subdivision as is furnished to holders of Warrant Stock, which notice shall be
sent to the Holder no later than the date such notice is sent to all holders of
Warrant Stock.

5.2  OTHER DIVIDENDS AND DISTRIBUTIONS

     In case the Company shall take a record of the holders of its Warrant Stock
(or other stock or securities at the time receivable upon the exercise of this
Warrant) for the purpose of entitling them to receive any dividend or other
distribution other than as described in Section 5.1, or any right to subscribe
for or purchase any shares of stock of any class or any other securities, or to
receive any

<PAGE>

other right, then the Company will mail or cause to be mailed to the
Holder a notice specifying the date on which a record is to be taken for the
purpose of such dividend, distribution or right (the "Record Date"), and stating
the amount and character of such dividend, distribution or right. Such notice
shall be mailed at least 15 days prior to the Record Date therein specified.

6.   FRACTIONAL SHARES

     No fractional shares shall be issued upon the exercise of this Warrant. In
lieu of fractional shares, the Company shall pay the Holder a sum in cash equal
to the fair market value of the fractional shares (as determined under paragraph
1.3 above) on the date of exercise.

7.   RESTRICTIONS ON TRANSFER

     Neither this Warrant nor any securities purchased upon exercise of this
Warrant may be transferred unless (a) such transfer is registered under the
Securities Act of 1933, as amended (the "Securities Act"), and any applicable
state securities or blue sky laws, (b) the Company has received a legal opinion
reasonably satisfactory to the Company to the effect that the transfer is exempt
from the prospectus delivery and registration requirements of the Securities Act
and any applicable state securities or blue sky laws; provided, however, that no
such opinion of counsel shall be necessary for a transfer of Warrant Stock
pursuant to Rule 144(k) promulgated under the Securities Act or any successor
rule thereto Rule 144(k), or (c) the Company otherwise satisfies itself that
such transfer is exempt from registration.

8.   LEGEND

     A legend setting forth or referring to the above restrictions shall be
placed on this Warrant, any replacement hereof and any certificate representing
a security issued pursuant to the exercise hereof, and a stop transfer
restriction or order shall be placed on the books of the Company and with any
transfer agent until such securities may be legally sold or otherwise
transferred; provided, however, that such legend shall not be required and a
stop transfer restriction order shall not be placed if (i) in the opinion of
counsel to the Holder (reasonably concurred with by counsel to the Company)
registration of any future transfer is not required by the applicable provisions
of the Securities Act, (ii) the Company shall have waived the requirements of
such legends or (iii) the transfer of Warrant Stock shall be made in compliance
with the requirements of Rule 144(k).

9.   HOLDER ITS OWNER

     The Company may deem and treat the Holder of this Warrant as the absolute
owner hereof for all purposes regardless of any notice to the contrary.

<PAGE>

10.  WARRANTHOLDER RIGHTS

     10.1 RIGHTS IN CONNECTION WITH WARRANT STOCK

     Upon exercise of all or part of this Warrant, the holder of the Warrant
Stock shall be entitled to rights with respect to such shares of Warrant Stock
as set forth on Exhibit A attached hereto (the "Rights Agreement").

     10.2 NO STOCKHOLDER RIGHTS

     Other than as set forth in Section 10.1 above, this Warrant shall not
entitle the Holder to any voting rights or any other rights as a stockholder of
the Company or to. Any other rights whatsoever except the rights stated herein;
and except as otherwise provided herein, no dividend or interest shall be
payable or shall accrue in respect of this Warrant or the Warrant Stock
purchasable hereunder unless, until and to the extent that this Warrant shall be
exercised.

11.  CONSTRUCTION

     The validity and interpretation of the terms and provisions of this Warrant
shall be governed by the laws of the State of Washington. The descriptive
headings of the several sections of this Warrant are inserted for convenience
only and shall not control or affect the meaning or construction of any of the
provisions thereof.

12.  EXPIRATION

     This Warrant shall be void and all rights represented thereby shall cease
unless exercised during the Exercise Period, as such period may be adjusted
pursuant to Section 4 hereof. All restrictions set forth herein on the shares of
capital stock issued upon exercise of any rights hereunder shall survive such
exercise and expiration of the rights granted hereunder.

13.  EXCHANGE OF WARRANT

     This Warrant is exchangeable upon the surrender hereof by the Holder at the
office of the Company for new Warrants of like tenor representing in the
aggregate the rights to subscribe for and purchase the number of shares which
may be subscribed for and purchased hereunder, each of such new Warrants to
represent the right to subscribe for and purchase such number of shares as shall
be designated by the Holder at the time of such surrender.

14.  LOST WARRANT CERTIFICATE

     If this Warrant is lost, stolen, mutilated or destroyed, the Company shall,
upon request in writing from the Holder and subject to compliance by Holder with
the following sentence, issue a new Warrant of like denomination, tenor and date
as this Warrant, subject to the Company's right to require the Holder to give
the Company a bond or other satisfactory security sufficient to indemnify the
Company against any claim that may be made against it (including any expense or
liability) on

<PAGE>

account of the alleged loss, theft, mutilation or destruction of this Warrant or
the issuance of such new Warrant. The Holder shall reimburse the Company for any
and all expenses and costs incurred by the Company in connection with issuing a
new Warrant under this Section

15.  WAIVERS AND AMENDMENTS

     This Warrant or any provision hereof may be changed, waived, discharged or
terminated only by a statement in writing signed by the party against which
enforcement of the change, waiver, discharge or termination is sought.

16.      SUCCESSORS AND ASSIGNS.

         This Warrant shall be binding upon the Company and inure to the benefit
of InfoSpace.com and its successors and assigns.

17.      NOTICES.

         All notices or other communications required or permitted hereunder
shall be in writing and shall be delivered by personal delivery, reputable
overnight courier service, telecopier or mailed by United States mail,
first-class postage prepaid, or by registered or certified mail with return
receipt requested, addressed as follows:

         If to the Holder:

         InfoSpace.com, Inc.
         15375 N.E. 90th Street
         Redmond, WA 98052
         Fax: (425) 883-4846

         Attention: General Counsel

         If to the Company:

         LeisurePlanet Holdings, Ltd.

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

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

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

     Each of the foregoing parties shall be entitled to specify a different
address by giving five days' advance written notice as aforesaid to the other
parties. All such notices and communications

<PAGE>

shall be deemed to have been received (i) in the case of personal delivery, on
the date of such delivery and (ii) in the case of mailing, on the third business
day following the date of such mailing.

18.  INVESTMENT INTENT

     By accepting this Warrant, the Holder represents that it is acquiring this
Warrant for investment and not with a view to, or for sale in connection with,
any distribution thereof.

<PAGE>

         IN WITNESS WHEREOF, the Company has executed this Warrant as of the
date first written above.

                                                 LEISUREPLANET HOLDINGS, LTD.

                                                 By:
                                                    ---------------------------
                                                 Its:
                                                     --------------------------

ACCEPTED AND AGREED:

InfoSpace.com, Inc.

-----------------------------
By:
   --------------------------

Its:
    -------------------------

Date:
     ------------------------

<PAGE>

                               NOTICE OF EXERCISE

TO LEISUREPLANET HOLDINGS, LTD.

                  1. The undersigned hereby elects to purchase __________ shares
of Common Stock of LeisurePlanet Holdings, Ltd. pursuant to the terms of the
attached Warrant.

                  2. Method of Exercise (Please initial the applicable blank):

                  ___      The undersigned elects to exercise the attached
                           Warrant by means of a cash payment, and tenders
                           herewith payment in full for the purchase price of
                           the shares being purchased, together with all
                           applicable transfer taxes, if any.

                  ___      The undersigned elects to exercise the attached
                           Warrant by means of the net exercise provisions of
                           Section 1.3 of the Warrant.

                  3. Please issue a certificate or certificates representing
said shares of Warrant Stock in the name of the undersigned or in such other
name as is specified below:

                                    ------------------------------------------
                                     (Name)

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

                                    ------------------------------------------
                                    (Address)

                  4. The undersigned hereby agrees with and represents to the
Company that said shares of common stock are acquired for investment and not
with a view to, or for sale in connection with, any distribution or public
offering thereof within the meaning of the Securities Act of 1933, as amended,
and agrees that the exercise of the Warrant and the issuance and transfer of the
common stock to be purchased are subject to Section 7 of the Warrant.

         Dated: ____________________

                                                      -------------------------
                                                      Holder

                                                      By:
                                                         ----------------------

                                                      Its:
                                                          ---------------------

<PAGE>

                                    EXHIBIT A

                               REGISTRATION RIGHTS

SECTION 1.        REGISTRATION RIGHTS

1.1      CERTAIN DEFINITIONS

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

                  "COMMISSION" shall mean the Securities and Exchange Commission
or any other federal agency at the time administering the Securities Act.

                  "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934,
as amended, or any similar federal statute, and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time.

                  "HOLDER" shall mean the Holder and any person holding
Registrable Securities to whom the rights under this Agreement have been
transferred in accordance with Section 1.13 hereof.

                  "INITIAL PUBLIC OFFERING" shall mean the first public offering
of Common Stock by the Company to the public pursuant to a registration
statement filed with, and declared effective by, the Commission under the
Securities Act.

                  The terms "REGISTER", "REGISTERED" and "REGISTRATION" refer to
a registration effected by preparing and filing a registration statement in
compliance with the Securities Act, and the declaration or ordering of the
effectiveness of such registration statement.

                  "REGISTRATION EXPENSES" shall mean all expenses incurred by
the Company in complying with Sections 1.2 and 1.3 hereof, including, without
limitation, all registration, qualification and filing fees, printing expenses,
escrow fees, fees and disbursements of counsel for the Company, blue sky fees
and expenses, and the expense of any special audits incident to or required by
any such registration (but excluding the compensation of regular employees of
the Company which shall be paid in any event by the Company).

                  "REGISTRABLE SECURITIES" means the Warrant Stock or other
securities issued or issuable with respect to the Warrant Stock upon any stock
split, stock dividend, recapitalization or similar event, or any Common Stock
otherwise issued or issuable with respect to the Warrant Stock; provided,
however, that shares of Common Stock or other securities shall only be treated
as Registrable Securities if and so long as they have not been (A) sold to or
through a broker or dealer or underwriter in a public distribution or a public
securities transaction, (B) sold in a transaction exempt from the registration
and prospectus delivery requirements of the Securities Act under Section 4(1)
thereof so that all transfer restrictions and restrictive legends with respect
thereto are

<PAGE>

removed upon the consummation of such sale or (C) the registration rights
associated with such securities have not been terminated pursuant to this
Agreement.

                  "SECURITIES ACT" shall mean the Securities Act of 1933, as
amended, or any similar federal statute and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time.

                  "SELLING EXPENSES" shall mean all underwriting discounts,
selling commissions and stock transfer taxes applicable to the securities
registered by the Holders and all fees and disbursements of counsel for the
Holders (as limited by Section 1.4).

                  "WARRANT" shall mean the Warrant to purchase the Common Stock
of the Company to which this Exhibit is attached.

                  "WARRANT STOCK" shall mean the Common Stock issued or issuable
upon exercise of the Warrant.

     1.2 COMPANY REGISTRATION

     (a) NOTICE OF REGISTRATION. If at any time prior to June 30, 2004 the
Company shall determine to register any of its securities, either for its own
account or the account of a security holder or holders, other than (x) a
registration relating solely to employee benefit plans or (y) a registration
relating solely to a Commission Rule 145 transaction, the Company will:

          (i)  promptly give to each Holder written notice thereof, and

          (ii) include in such registration (and any related qualification under
               blue sky laws or other compliance), and in any underwriting
               involved therein, all the Registrable Securities specified in a
               written request or requests made within fifteen (15) days after
               receipt of such written notice from the Company by any Holder.

     (b) UNDERWRITING. If the registration of which the Company gives notice is
for a registered public offering involving an underwriting, the Company shall so
advise the Holder as a part of the written notice given pursuant to Section
1.2(a)(i). In such event, the right of any Holder to registration pursuant to
Section 1.2 shall be conditioned upon such Holder's participation in such
underwriting and the inclusion of Registrable Securities in the underwriting, to
the extent requested, to the extent provided herein. The Holder shall (together
with the Company and the other holders distributing their securities through
such underwriting (the "Other Participating Holders")) enter into an
underwriting agreement in customary form with the managing underwriter selected
for such underwriting by the Company. Notwithstanding any other provision of
this Section 1.2, if the managing underwriter determines that marketing factors
require a limitation of the number of shares to be underwritten, the managing
underwriter may limit the number of Registrable Securities to be included in the
registration and underwriting, on a pro rata basis based on the total number of
securities (including, without limitation, Registrable Securities) requested to
be registered pursuant to registration rights granted to the Holder and the
Other Participating Holders by the Company. To facilitate the allocation of
shares in accordance with the above provisions, the Company or

<PAGE>

the underwriters may round the number of shares allocated to the Holder or the
Other Participating Holders to the nearest one hundred (100) shares. If the
Holder or any Other Participating Holder disapproves of the terms of any such
underwriting, it, he or she may elect to withdraw therefrom by written notice to
the Company and the managing underwriter, delivered at least ten (10) business
days prior to the effective date of the Registration Statement. Any securities
excluded or withdrawn from such underwriting shall be withdrawn from such
registration.

         (c) RIGHT TO TERMINATE REGISTRATION. The Company shall have the
right to terminate or withdraw any registration initiated by it under this
Section 1.2 prior to the effectiveness of such registration, whether or not any
Holder has elected to include securities in such registration.

         1.3      REGISTRATION ON FORM S-3

         (a) If any Holder of Registrable Securities requests that the Company
file a registration statement on Form S-3 (or any successor form to Form S-3)
for a public offering of Registrable Securities, the reasonably anticipated
aggregate price to the public of which, net of underwriting discounts and
commissions, would exceed $1,000,000, and the Company is a registrant entitled
to use Form S-3 to register the Registrable Securities for such an offering, the
Company shall use its best efforts to cause such Registrable Securities to be
registered for the offering on such form. The Company will (i) promptly give
written notice of the proposed registration to all other Holders and (ii) as
soon as practicable use its best efforts to effect such registration (including,
without limitation, the execution of an undertaking to file post-effective
amendments, appropriate qualification under applicable blue sky or other state
securities laws and appropriate compliance with applicable regulations issued
under the Securities Act and any other governmental requirements or regulations)
as may be so requested and as would permit or facilitate the sale and
distribution of all or such portion of such Registrable Securities as are
specified in such request, together with all or such portion of the Registrable
Securities of any Holder or Holders joining in such request as are specified in
a written request received by the Company within fifteen (15) days after receipt
of such written notice from the Company. The substantive provisions of Section
1.2(b) shall be applicable to each registration initiated under this Section
1.2.

         (b) Notwithstanding the foregoing, the Company shall not be obligated
to take any action pursuant to this Section 1.3: (i) in any particular
jurisdiction in which the Company would be required to execute a general consent
to service of process in effecting such registration, qualification or
compliance, unless the Company is already subject to service in such
jurisdiction and except as may be required by the Securities Act; (ii) during
the period starting with the date sixty (60) days prior to the Company's
estimated date of filing of, and ending on the date six (6) months immediately
following the effective date of, a registration statement (other than with
respect to a registration statement relating to a Rule 145 transaction, an
offering solely to employees or any other registration which is not appropriate
for the registration of Registrable Securities), provided that the Company is
actively employing in good faith all reasonable efforts to cause such
registration statement to become effective; (iii) in any calendar year after the
Company has effected two (2) such registrations pursuant to this Section 1.3 in
such calendar year and each such registration has been declared or ordered
effective and has remained effective for the period specified in Section 1.5(a)
of

<PAGE>

this Agreement; and (iv) if the Company shall furnish to such Holder a
certificate signed by the President of the Company stating that, in the good
faith judgment of the Board of Directors, it would be seriously detrimental to
the Company or its stockholders for registration statements to be filed in the
near future, then the Company's obligation to use its best efforts to file a
registration statement shall be deferred for a period not to exceed one hundred
twenty (120) days from the receipt of the request to file such registration by
such Holder or Holders; provided, however, that the Company may not utilize this
right more than once in any twelve (12) month period.

         1.4      EXPENSES OF REGISTRATION

         All Registration Expenses incurred in connection with any registration
pursuant to Section 1.2 and up to one registration in any calendar year after
the date hereof under Section 1.3, and, at the Holder's option (i) the
reasonable cost of one special legal counsel to all holders of securities of the
Company exercising registration rights in any such registration or (ii) the
reasonable cost of one special legal counsel to the Holder in any such
registration, shall be borne by the Company; provided, however, that the
attorneys' fees related to such special legal counsel referred to in clause (ii)
borne by the Company shall in no event exceed $25,000 in any calendar year. All
Registration Expenses incurred in connection with any registration pursuant to
Section 1.3 of this Agreement above and beyond one registration in any calendar
year after the date hereof, and the cost of any counsel for the Holder in any
such registration, shall be borne by the Holder. If a registration proceeding is
begun upon the request of the Holder pursuant to Section 1.3 (if the first
request under Section 1.3 in any calendar year), but such request is
subsequently withdrawn, then the Holder may either: (i) bear all Registration
Expenses of such proceeding, in which case the Company shall be deemed not to
have effected a registration pursuant to Section 1.3 of this Exhibit, or (ii)
require the Company to bear all Registration Expenses of such proceeding, in
which case the Company shall be deemed to have effected a registration pursuant
to Section 1.3 of this Exhibit. The preceding sentence shall not apply if, at
the time of such withdrawal, the Holder has learned of a material adverse change
in the condition, business or prospects of the Company from that known to the
holder at the time of their request. Unless otherwise stated, all other Selling
Expenses relating to securities registered on behalf of the Holder shall be
borne by the Holder.

         1.5      REGISTRATION PROCEDURES

         In the case of each registration, qualification or compliance effected
by the Company pursuant to Sections 1.2 or 1.3 hereof, the Company will:

         (a) Prepare and file with the Commission a registration statement with
respect to such securities and use its best efforts to cause such registration
statement to become and remain effective until the distribution described in the
registration statement has been completed, but in no event longer than one year;
and

         (b) Prepare and file with the Commission such amendments and
supplements to such registration statement and the prospectus used in connection
with such registration statement as may be necessary to comply with the
provisions of the Securities Act with respect to the disposition of all
securities covered by such registration statement.

<PAGE>

         (c) Furnish to the Holders participating in such registration and to
the underwriters, if any, of the securities being registered such reasonable
number of copies of the registration statement, preliminary prospectus, final
prospectus and such other documents as such underwriters may reasonably request
in order to facilitate the public offering of such securities.

         (d) Use its best efforts to register and qualify the securities covered
by such registration statement under such other securities or Blue Sky laws of
such jurisdictions as shall be reasonably requested by the Holders; provided
that the Company shall not be required in connection therewith or as a condition
thereto to qualify to do business or to file a general consent to service of
process in any such states or jurisdictions, unless the Company is already
subject to service in such jurisdiction and except as may be required by the
Securities Act.

         (e) In the event of any underwritten public offering, enter into and
perform its obligations under an underwriting agreement, in usual and customary
form, with the managing underwriter of such offering. Each Holder participating
in such underwriting shall also enter into and perform its obligations under
such an agreement.

         (f) Notify each Holder of Registrable Securities covered by such
registration statement at any time when a prospectus relating thereto is
required to be delivered under the Act of the happening of any event as a result
of which the prospectus included in such registration statement, as then in
effect, 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 in the light of the circumstances then existing.

         (g) Cause all such Registrable Securities registered pursuant hereunder
to be listed on each securities exchange or other trading market on which
similar securities issued by the Company are then listed.

         (h) Provide a transfer agent and registrar for all Registrable
Securities registered pursuant hereunder and a CUSIP number for all such
Registrable Securities, in each case not later than the effective date of such
registration.

         (i) Use its best efforts to furnish, at the request of any Holder
requesting registration of Registrable Securities pursuant to this Section 1, on
the date that such Registrable Securities are delivered to the underwriters for
sale in connection with a registration pursuant to this Section 1, if such
securities arc being sold through underwriters, (i) an opinion, dated such date,
of the counsel representing the Company for the purposes of such registration,
in form substance as is customarily given to underwriters in an underwritten
public offering, addressed to the underwriters and to the Holders requesting
registration of Registrable Securities and (ii) a letter dated such date, from
the independent certified public accountants of the Company, in form and
substance as is customarily given by independent certified public accountants to
underwriters in an underwritten public offering, addressed to the underwriters
and to the Holder requesting registration of Registrable Securities.

<PAGE>

         1.6      INDEMNIFICATION

         (a) The Company will indemnify each Holder, each of its officers and
directors and partners, and each person controlling such Holder within the
meaning of Section 15 of the Securities Act, with respect to which registration,
qualification or compliance has been effected pursuant to this Section 1, and
each underwriter, if any, and each person who controls any underwriter within
the meaning of Section 15 of the Securities Act, against all actual
out-of-pocket expenses, claims, losses, damages or liabilities (or actions in
respect thereof), including any of the foregoing incurred in any litigation or
in settlement of any litigation, commenced or threatened, arising out of or
based on any untrue statement (or alleged untrue statement) of a material fact
contained in any registration statement, prospectus, preliminary prospectus,
offering circular or other document, or any amendment or supplement thereto,
incident to any such registration, qualification or compliance, or based on any
omission (or alleged omission) to state therein a material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances in which they were made, not misleading, or any violation or any
alleged violation by the Company of the Securities Act or the Exchange Act or
any state securities law, or of any rule or regulation promulgated under any of
the foregoing applicable to the Company in connection with any such
registration, qualification or compliance, and the Company will reimburse each
such Holder, each of its officers and directors, and each person controlling
such Holder, each such underwriter and each person who controls any such
underwriter, for any legal and any other actual out-of-pocket expenses
reasonably incurred in connection with investigating, preparing or defending any
such claim, loss, damage, liability or action, as such expenses are incurred;
provided, however, that the indemnity agreement contained in this Section 1.6(a)
shall not apply to amounts paid in settlement of any such matter if the
settlement is effected without the consent of the Company, which consent shall
not be unreasonably withheld; and provided further that the Company will not be
liable in any such case to the extent that any such claim, loss, damage,
liability or expense arises out of or is based on any untrue statement or
omission or alleged untrue statement or omission, made in reliance upon and in
conformity with written information furnished to the Company by such Holder,
controlling person or underwriter specifically for use therein.

         (b) Each Holder will, if Registrable Securities held by such Holder are
included in the securities as to which such registration, qualification or
compliance is being effected, indemnify the Company, each of its directors and
officers, each underwriter, if any, of the Company's securities covered by such
a registration statement, each person who controls the Company or such
underwriter within the meaning of Section 15 of the Securities Act, and each
other such Holder, each of its officers and directors and each person
controlling such Holder within the meaning of Section 15 of the Securities Act,
against all actual out-of-pocket expenses, claims, losses, damages and
liabilities (or actions in respect thereof), including any of the foregoing
incurred in settlement of any litigation, commenced or threatened, arising out
of or based on any untrue statement (or alleged untrue statement) of a material
fact contained in any such registration statement, prospectus, offering circular
or other document, or any amendment or supplement thereto, incident to any such
registration, qualification or compliance, or based on any omission (or alleged
omission) to state therein a material fact required to be stated therein, in
light of the circumstances in which they were made, or necessary to make the
statements therein not misleading, and will reimburse the Company,

<PAGE>

such Holders, such directors, officers, persons, underwriters or control persons
for any legal and any other actual out-of-pocket expenses reasonably incurred in
connection with investigating or defending any such claim, loss, damage,
liability or action, as such expenses are incurred, in each case to the extent,
but only to the extent, that such untrue statement (or alleged untrue statement)
or omission (or alleged omission) is made in such registration statement,
prospectus, offering circular or other document in reliance upon and in
conformity with written information furnished to the Company by such Holder
specifically for use therein; provided, however, that the indemnity agreement
contained in this Section 1.6(b) shall not apply to amounts paid in settlement
of any matter if the settlement is effected without the consent of the Holder,
which consent shall not be unreasonably withheld; and provided, further, that
the maximum liability of each selling Holder under this Section 1.6(b) shall be
equal to the net proceeds to such selling Holder as a result of such
registration and offering.

         (c) Each party entitled to indemnification under this Section 1.6 (the
"Indemnified Party") shall give notice to the party required to provide
indemnification (the "Indemnifying Party") promptly after such Indemnified Party
has actual knowledge of any claim as to which indemnity may be sought, and shall
permit the Indemnifying Party to assume the defense of any such claim or any
litigation resulting therefrom, provided that counsel for the Indemnifying
Party, who shall conduct the defense of such claim or litigation, shall be
approved by the Indemnified Party (whose approval shall not unreasonably be
withheld), and the Indemnified Party may participate in such defense at such
party's expense; provided, however, that an Indemnified Party (together with all
other Indemnified Parties which may be represented without conflict by one
counsel) shall have the right to retain one separate counsel, with the
reasonable fees and expenses of such counsel to be paid by the Indemnifying
Party, if representation of such Indemnified Party by the counsel retained by
the Indemnifying Party would be inappropriate due to actual or potential
differing interests between such Indemnified Party and any other party
represented by such counsel in such proceeding. The failure of any Indemnified
Party to give notice as provided herein shall not relieve the Indemnifying Party
of its obligations under this Section 1.6 unless the failure to give such notice
is materially prejudicial to an Indemnifying Party's ability to defend such
action. No Indemnifying Parry, in the defense of any such claim or litigation,
shall, except with the consent of each Indemnified Party (not to be unreasonably
withheld), consent to entry of any judgment or enter into any settlement which
does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such Indemnified Party of a release from all liability in respect
to such claim or litigation.

         (d) If the indemnification provided for in this Section 1.6 is held by
a court of competent jurisdiction to be unavailable to an indemnified party with
respect to any loss, liability, claim, damage, or expense referred to therein,
then the indemnifying party, in lieu of indemnifying such indemnified party
hereunder, shall contribute to the amount paid of payable by such indemnified
party as a result of such loss, liability, claim, damage, or expense in such
proportion as is appropriate to reflect the relative fault of the indemnifying
party on the one hand and of the indemnified party on the other in connection
with the statements or omissions that resulted in such loss, liability, claim,
damage, or expense as well as any other relevant equitable considerations;
provided, however, that, in no event shall any contribution by a Holder under
this subsection 1.6(d) exceed the net proceeds from the offering received by
such Holder, except in the case of willful fraud by such Holder. The

<PAGE>

relative fault of the indemnifying party and of the indemnified party shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission to state a material fact
relates to information supplied by the indemnifying party or by the indemnified
party and the parties' relative intent, knowledge, access to information, and
opportunity to correct or prevent such statement or omission.

         (e) Notwithstanding the foregoing, to the extent that the provisions on
indemnification and contribution contained in the underwriting agreement entered
into in connection with the underwritten public offering are in conflict with
the foregoing provisions, the provisions in the underwriting agreement shall
control.

         (f) The obligations of the Company and Holders under this Section 1.6
shall survive the completion of any offering of Registrable Securities in a
registration statement under this Section 1, and otherwise.

         1.7      INFORMATION BY HOLDER

         The Holder or Holders of Registrable Securities included in any
registration shall furnish to the Company such information regarding such Holder
or Holders, the Registrable Securities held by them and the distribution
proposed by such Holder or Holders as the Company may request in writing and as
shall be required in connection with any registration, qualification or
compliance referred to in this Section 1.

         1.8      RULE 144 REPORTING

         With a view to making available the benefits of certain rules and
regulations of the Commission which may at any time permit the sale of the
Warrant Stock to the public without registration, after such time as a public
market exists for the Common Stock of the Company, the Company agrees to use its
best efforts to:

         (a) Make and keep public information available, as those terms are
understood and defined in Rule 144 under the Securities Act, at all times after
the effective date that the Company becomes subject to the reporting
requirements of the Exchange Act.

         (b) File with the Commission in a timely manner all reports and other
documents required of the Company under the Exchange Act (at any time after it
has become subject to such reporting requirements); and

         (c) So long as the Holder owns any Restricted Securities, to furnish to
the Holder forthwith upon request a written statement by the Company as to its
compliance with the reporting requirements of Rule 144 and of the Exchange Act,
a copy of the most recent annual or quarterly report of the Company, and such
other reports and documents of the Company and other information in the
possession of or reasonably obtainable by the Company as the Holder may
reasonably request in availing itself of any rule or regulation of the
Commission allowing the Holder to sell any such securities without registration.

<PAGE>

         1.9      TRANSFER OF REGISTRATION RIGHTS

         The rights to cause the Company to register securities granted to the
Holder under Sections 1.2 and 1.3 may be assigned to a transferee or assignee in
connection with any transfer or assignment of Registrable Securities by the
Holder (together with any affiliate); provided, however, that (a) such transfer
may otherwise be effected in accordance with applicable securities laws, (b)
notice of such assignment is given to the Company, (c) such transferee or
assignee (i) is a wholly-owned subsidiary or constituent partner (including
limited partners, retired partners, spouses and ancestors, lineal descendants
and siblings of such partners or spouses who acquire Registrable Securities by
gift, will or intestate succession) of the Holder, or (ii) acquires from the
Holder at least 10% of the Holder's Warrant Stock and (d) agrees to be bound by
the terms and conditions of this Exhibit A.

         1.10     TERMINATION OF RIGHTS

         The rights of any particular Holder to cause the Company to register
securities under Sections 1.2 and 1.3 shall terminate with respect to such
Holder on the earlier of (a) the fifth anniversary of the effective date of the
Company's Initial Public Offering and (b) such time as Rule 144 or another
similar exemption under the Securities Act is available for the sale of all such
Holders securities during a three (3)-month period without registration.

                  FINANCIAL INFORMATION

         The Company hereby agrees to furnish to each Holder the following
reports:

         (a) As soon as practicable after the end of each fiscal year and in any
event within ninety (90) days thereafter, a copy of the Company's Form 10-K for
such fiscal year; and

         (b) As soon as practicable after the end of each quarter, and in any
event within 45 days thereafter, a copy of the Company's Form 10-Q for such
quarter.

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