Document:

EXCLUSIVE LICENSE AGREEMENT

       This License  Agreement,  dated  October 18, 1997, is entered into by and
between Virtual Wall Street, Inc., a California corporation (the "Licensor") and
Virtual Stock  Market,  Inc, a California  corporation  (the  "Licensee"),  with
respect to the following facts:

         The  Licensor  is  the  owner  of  the  federally  registered
         trademark  "Virtual  Stock Market" which the Licensor uses in
         connection with securities and investment-related  businesses
         on the Internet.  The Licensee wishes to establish or acquire
         a  full  service   broker-dealer  firm  registered  with  the
         National Assodation of Securities  Dealers,  Inc. ("NASD") to
         (i) provide  securities  brokerage  services  for  customcrs,
         including  electronic online  securities  transactions on thc
         Interact,  (ii)  provide  investment  banking  and  financial
         consulting  services for small and medium  sized  businesses,
         especially  by raising  capital in offerings on the Internet,
         and (iii) engage in market  making and trading in  securities
         for its own account.  The Licensee wishes to receive, and the
         Licensor is willing to grant, a license to allow the Licensee
         to use the name "Virtual Stock Market",  subject to the terms
         and conditions set forth below:

         In view of the foregoing facts, the parties agree as follows:

1. License. The Licensor hereby grants to the Licensee,  and the Licensee hereby
accepts,  a license  to use the name  "Virtual  Stock  Market" to  establish  or
acquire  a  full  service   broker-dealer  firm  registered  with  the  National
Association  of  Securities  Dealers,  Inc.  ("NASD") to (i) provide  securities
brokerage  services  for  customers,   including  electronic  online  securities
transactions  on the  Internet,  (ii) provide  investment  banking and financial
consulting services for small and medium sized businesses, especially by raising
capital in offerings  on the  Internet,  and (iii)  engage in market  making and
trading  in  securities  for its own  account.  This  License  is limited to the
above-stated use and does not extend to other uses.

2. Term of License.  The license  granted hereby shall be perpetual,  subject to
termination as provided in this Agreement.

3.  License  Fee. As  consideration  for and as a  condition  to  receiving  the
license,  the Licensee shall pay the Licensor a one-time License Fee of $60,000,
payable in cash or by bank  check.  The  License Fee shall be paid no later than
five business days after the date of this Agreement.

4.  Acknowledgment  of Rights.  The parties  acknowledge  that the  Licensor has
right, title and interest in the trademark and trade name "Virtual Stock Market"
and that by virtue of this License the Licensee  shall  acquire no rights in the
name  "Virtual  Stock  Market" or any similar name other than the license to use
that  name  as  provided  in  this   Agreement.   The  Licensee  shall  make  no
representation  of any kind which states explicitly or implies that the Licensee
has any ownership rights in the name "Virtual Stock Market" or any similar names
other than the license granted by the Licensor in this Agreement.

5. Improper Use. The Licensee  shall not use the name "Virtual  Stock Market" or
any similar name in a manner which harms or would tend to harm the reputation of
the Licensor or products  bearing the Licensor's  trademarks or trade names. The
Licensee shall provide from time to time at the Licensor's  request  examples of
any and all  documents  bearing  the name  "Virtual  Stock  Market" to allow the
Licensor to ascertain the Licensee's  compliance  with the  requirements of this
Agreement.  A copy of the  Licensee's  use of the name "Virtual Stock Market" is
attached hereto as Exhibit A.

6. Assignment.  The Licensee may not assign or sublicense its license to use the
name "Virtual Stock Market" or any similar name, including but not limited to by
operation  of law,  without  the prior  written  consent  of the  Licensor.  The
Licensor may assign its rights under this Agreement, which shall be binding upon
and inure to the benefit of the Licensor's successors and assigns.

                                      -1-
<PAGE>

7. Notices. Any notice, payment or communication  contemplated by this Agreement
shall be sent to the address set forth below the  signature of the party to whom
such notice,  payment or communication is directed,  or to such other address as
that party shall provide to the other party in writing. Notices may be delivered
personally, by overnight courier or by first-class mail.

8.  Termination.  Regardless of the term of the license  specified in Section 2,
the Licensor may terminate the license granted under this Agreement upon written
notice  to the  Licensee  if the  Licensee  commits  a  material  breach of this
Agreement and such breach is not remedied within 14 days of such breach.

9.  Miscellaneous.  This  Agreement  shall be  governed  by,  and  construed  in
accordance  with, the laws of California  applicable to  transactions  occurring
within California and between  residents of that state. This Agreement  contains
the entire  understanding  of the parties  with  respect to the  subject  matter
hereof  and  supersedes  entirely  any prior or  contemporaneous  agreements  or
understandings  relating to that  subject  matter.  This  Agreement  may only be
amended  through a written  instrument  signed by both parties.  No right of any
party under this  Agreement will be deemed waived unless the waiver is set forth
in writing and is signed by the party waiving that right.  In any  litigation or
arbitration  arising  out  of or  related  to  this  Agreement,  the  party  who
substantially  prevails  shall be entitled to recover,  in addition to any other
amounts the arbitrator or court may award, all costs incurred in connection with
that  arbitration  or  litigation,  including  but  not  limited  to  reasonable
attorneys fees.

IN WITNESS WHEREOF, the parties,  through their duly authorized  officers,  have
entered into this Agreement as of the date first above written.

THE LICENSOR                                 THE LICENSEE

VIRTUAL WALL STREET, INC.                    VIRTUAL STOCK MARKET, INC.

By: /s/ Adin J. Buhalis                      By: /s/ Michael B. Cratty
   -----------------------------                --------------------------------
Title: President & CEO                       Title: President

11755 Wilshire Blvd., Suite 2440             11755 Wilshire Blvd., Suite 2400
Los Angeles, CA 90025                        Los Angeles, CA 90025

                                      -2-The United States of America

                          CERTIFICATE OF REGISTRATION
                              SUPPLEMENTAL REGISTER

          The Mark shown in this  certificate  has been registered in the United
States Patent and Trademark Office to the named registrant.

          The records of the United States Patent and Trademark Office show that
an application for  registration of the Mark shown in this Certificate was filed
in the  Office,  that the  application  was  examined  and  determined  to be in
compliance with the requirements of the law and with the regulations  prescribed
by the  Commissioner  of  Patents  and  Trademarks,  and that the  Applicant  is
entitled  to  registration  of the Mark  under  the  Trademark  Act of 1946,  as
Amended.

          A copy of the Mark and pertinent data from the  application are a part
of this certificate.

          This  registration  shall  remain in force for TEN (10) years,  unless
terminated  earlier as  provided  by law,  and  subject to  compliance  with the
provisions of Section 8 of the Trademark Act of 1946, as Amended.

[trademark seal goes here]

                                  /s/ Q. Todd ??????
                                  Acting Commissioner of Patents and Trademarks

<PAGE>

Int. Cls.: 35 and 36

Prior U.S. Cls.: 100, 101, and 102                     Reg. No. 2,254,552
United States Patent and Trademark Office              Registered June 15, 1999
--------------------------------------------------------------------------------

                                  SERVICE MARK
                             SUPPLEMENTAL REGISTER

                              VIRTUAL STOCK MARKET

VIRTUAL WALL STREET, INC. (CALIFORNIA  CORPORATION)
11601 WILSHIRE BLVD. 5TH FLOOR
LOS ANGELES, CA 90025

     FOR: ADVERTISING  SERVICES,  NAMELY,  PROVIDING INFORMATION ON PRODUCTS AND
SERVICES OF OTHERS, BOTH ONLINE AND IN PRINTED MATERIAL , IN CLASS 35 (U.S. CLS.
100, 101 AND 102).

     FIRST USE 10-0-1997; IN COMMERCE 10-0-1997.

     FOR: ONLINE SECURITIES BROKERAGE,  AND CONSULTING ON FINANCIAL INVESTMENTS,
IN CLASS 36 (U.S. CLS. 100, 101 AND 102).

     FIRST USE 10-0-1997; IN COMMERCE 10-0-1997.

     NO CLAIM IS MADE TO THE EXCLUSIVE RIGHT TO USE "STOCK  MARKET",  APART FROM
THE MARK AS SHOWN.

     SER. NO. 75-316,980, FILED P.R. 6-30-1997; AM. S.R. 3-19-1999.

     MATTHEW KLINE, EXAMINING ATTORNEY

<PAGE>

                            [DEPT OF COMMERCE SEAL]

                                          UNITED STATES DEPARTMENT OF COMMERCE
                                          Patent and Trademark Office
                                          ASSISTANT COMMISSIONER FOR TRADEMARKS
                                          2900 Crystal Drive
                                          Arlington. Virginia 22202-3513

                                          Dec 3, 1999

                       NOTICE OF PUBLICATION UNDER 12(a)

1. Serial No.:
   75/751,428

2. Mark:
   OBROKER.COM

3. International Class(es):
   36

4. Publication Date:
   Jan 4, 2000

5. Applicant:
   Online Stock Market Group

The mark of the application  identified  appears to be entitled to registration.
The mark will, in accordance with Section 12(a) of the Trademark Act of 1946, as
amended,  be published in the Official  Gazette on the date indicated  above for
the purpose of  opposition  by any person who believes he will be damaged by the
registration of the mark. If no opposition is filed within the time specified by
Section 13(a) of the Statute or by rules 2.101 or 2.102 of the Trademark  Rules,
the  Commissioner  of Patents  and  Trademarks  may issue a notice of  allowance
pursuant to section 13(b) of the Statute.

Copies  of  the  trademark  portion  of  the  Official  Gazette  containing  the
publication of the mark may be obtained at $38.00 each for domestic  orders,  or
at S47.50 each for foreign orders from:

                                   The Superintendent of Documents
                                   U.S. Government Printing Office
                                   PO Box 371954
                                   Pittsburgh, PA 15250-7954
                                   Phone: (202)512- 1800

By direction of the Commissioner.

PCFDLR (REV 12/97)

<PAGE>

                            TRADEMARK LAW OFFICE 104
                            Serial Number: 75/316980
                           Mark: VIRTUAL STOCK MARKET

                                         **Please Place on Upper Right Corner**
                                         **of Response to Office Action ONLY **

                IN THE UNITED STATES PATENT AND TRADEMARK OFFICE
                ------------------------------------------------

In re Trademark Application of               Examining Attorney:
                                             Matthew C. Kline
Virtual Wall Street, Inc.
                                             Law Office:
Mark: VIRTUAL STOCK MARKET
                                             San Francisco, California
Serial No.: 75/316,980

Filed: June 30, 1997

Assistant Commissioner for Trademarks
2900 Crystal Drive
Arlington, Virginia 22202

Sir:

I HEREBY  CERTIFY THAT THIS  CORRESPONDENCE  IS BEING  DEPOSITED WITH THE UNITED
STATES POSTAL SERVICE AS FIRST CLASS MAIL IN AN ENVELOPE ADDRESSED TO: ASSISTANT
COMMISSIONER FOR TRADEMARKS, 2000 CRYSTAL DRIVE, ARLINGTON, VIRGINIA 22202
ON MARCH 16, 1999
THOMAS M. FREIBURGER REG NO. 27,063
SIGNED /S/ ??????
DATED  3-16-99

                                   AMENDMENT

     This is in response to the official action mailed October 22, 1998.

     With this  amendment  is an  Amendment  to Allege  Use in the  application,
accompanied  by six  specimens  (three  for  each  class)  of the  mark as used,
comprising  printed  versions of a computer screen  displaying the mark.

     Please  also  amend  the   application  to  request   registration  on  the
Supplemental  Register,  rather than the Principal Register.

     As requested by the Examining  Attorney in a telephone  conference with the
undersigned, please amend the application to

                                       1
<PAGE>

add the following disclaimer:

   No claim is made to the  exclusive  right to use STOCK  MARKET apart from the
mark as shown.

   The Amendment to Allege Use includes  services in two classes.  Please delete
from the  application  the  description of services listed in Class 38. Also, an
additional filing fee of $245 for an additional class is enclosed.

                                        Respectfully submitted,
                                        /S/ THOMAS M. FREIBURGER

Date: March 16, 1999                    Thomas M. Freiburger
                                        Attorney for Applicant
                                        650 California Street, 25th Floor
                                        San Francisco, California 94108
                                        (415)    781-0310

                                       2

<PAGE>

FILING RECEIPT FOR TRADEMARK APPLICATION                         Page O1 of Ol

07/26/97  Receipt on the DATE OF FILING of the application for  registration and
filing fees is acknowledged for the mark identified below. The DATE OF FILING is
contingent  upon the  collection  of any  payment  made by check or draft.  Your
application  will be  considered in the order in which it was received and shall
be  notified  as to the  examination  thereof.  Action on the  merits  should be
expected from the Patent and Trademark  Office in  approximately  06 months from
the filing  date.  When  inquiring  about this  application,  include the SERIAL
NUMBER, DATE OF FILING, OWNER NAME, and MARK.

VIRTUAL WALL STREET INC
11601 WILSHIRE BLVD 5TH FL
LOS ANGELES CA     90025

     ATTORNEY
REFERENCE NUMBER

--------------------------------------------------------------------------------
           PLEASE REVIEW THE ACCURACY OF THE FILING RECEIPT DATA.

A request for  correction to the filing  receipt  should be submitted  within 30
days to the following  address:  ASSISTANT  COMMISSIONER  FOR  TRADEMARKS,  2900
CRYSTAL DRIVE,  ARLINGTON,  VIRGINIA  22202-3513.  The correspondence  should be
marked to the attention of the Office of Trademark  Program Control.  The Patent
and  Trademark  Office  will  review  the  request  and  make  corrections  when
appropriate.
--------------------------------------------------------------------------------

SERIAL NUMBER: 75/317017
FILING DATE: Jun. 30, 1997
REGISTER: Principal
LAW OFFICE: 101
MARK: ONLINE STOCK MARKET
MARK TYPE(S): Service Mark
DRAWING TYPE: Words, letters, or numbers in typed form
FILING BASIS: Sect. l(b) (Intent to Use)

--------------------------------------------------------------------------------
OWNER: Virtual Wall Street, Inc. (CALIFORNIA, Corporation)
       11601 Wilshire Blvd. 5th Floor
       Los Angeles, CALIFORNIA 90025
--------------------------------------------------------------------------------

FOR: publishing goods, marketing business and products
        INT. CLASS: 035

FOR: consulting, advertising, online trading and selling stock
        INT. CLASS: 036

FOR: promotion of Internet web site and domain name of virtual wall street, com,
E-mail, and Internet services

      INT. CLASS: 038

               ALL OF THE GOODS/SERVICES IN EACH CLASS ARE LISTED

--------------------------------------------------------------------------------
            ADDITIONAL INFORMATION MAY BE PRESENT IN THE PTO RECORDS

<PAGE>

[WEBCOM SCHEMATIC GOES HERE]                      [WEBCOM LOGO GOES HERE]

                                                          WebCom

InterNIC Domain Name Application:

Your  application to register domain name  onlinestockmarket.com  has been filed
and  submitted  to the  InterNIC.  Please  allow 2-3 weeks for  registration  to
complete.  You may monitor the progress of your registration from the WebCom DNS
Menu. Up to DNS Menu/Help/Home Page/File Manager/Services

--------------------------------------------------------------------------------
WebComTip:

Did you know  that Web pages  appear  differently  when  viewed  with  different
browsers?  You will want to preview your Web pages in as many different browsers
as possible to make sure you are getting a good look in all of them.
--------------------------------------------------------------------------------

                            [WEBCOM LOGO GOES HERE]
                                     WebCom

                     Copyright (C) 1997 Web Communications

<PAGE>

                    FILING RECEIPT FOR TRADEMARK APPLICATION

                                                                   Page 01 of 01

                                                                    Scp 30, 1999

Receipt on the DATE OF FILING of the  application  for  registration  and filing
fees is  acknowledged  for the mark  identified  below.  The DATE OF  FILING  is
contingent  upon the  collection  of any  payment  made by check or draft.  Your
application  will be  considered  in the order in which it was  received and you
will be notified as to the examination  thereof.  Action on the merits should be
expected from the Patent and Trademark  Office in  approximately  06 months from
the filing  date.  When  inquiring  about this  application,  include the SERIAL
NUMBER, DATE OF FILING, OWNER NAME, and MARK.

                ONLINE STOCK MARKET GROUP
                1875 CENTURY PARK EAST, SUITE 1880                  ATTORNEY
                LOS ANGELES, CA 90067                           REFERENCE NUMBER

--------------------------------------------------------------------------------
             PLEASE REVIEW THE ACCURACY OF THE FILING RECEIPT DATA.

A request for  correction to the filing  receipt  should be submitted  within 30
days to the following  address:  ASSISTANT  COMMISSIONER  FOR  TRADEMARKS,  2900
CRYSTAL DRIVE,  ARLINGTON,  VIRGINIA  22202-3513.  The correspondence  should be
marked to the attention of the Office of Trademark  Program Control.  The Patent
and  Trademark  Office  will  review  the  request  and  make  corrections  when
appropriate.
--------------------------------------------------------------------------------

SERIAL NUMBER: 75/751428
FILING DATE: Jul 14, 1999
REGISTER: Principal
LAW OFFICE: 101
MARK: OBROKER.COM
MARK TYPE(S): Service Mark
DRAWING TYPE: Words, letters, or numbers in typed form
FILING BASIS: Sect. l(b) (Intent to Use)

--------------------------------------------------------------------------------
OWNER:     Online Stock Market Group (CALIFORNIA, Corporation)
           1875 Century Park East, Suite 1880
           Los Angeles, CALIFORNIA 90067
--------------------------------------------------------------------------------

FOR:  online   securities   brokerage   services  and  consulting  on  financial
      investments INT. CLASS: 036

               ALL OF THE GOODS/SERVICES IN EACH CLASS ARE LISTED

--------------------------------------------------------------------------------
            ADDITIONAL INFORMATION MAY BE PRESENT IN THE PTO RECORDS

<PAGE>

                                                                   Page 01 of 01

                     U.S. Patent and Trademark Office (PTO)

                              NOTICE OF ALLOWANCE

(NOTE: If any data on this notice is incorrect,  please submit a written request
for correction of the NOA to: Assistant  Commissioner  for Trademarks,  Box ITU,
2900 Crystal Drive, Arlington,  VA 22202-3513.  Please include the serial number
of your application on ALL correspondence with the PTO. 15 U.S.C. 1063(b)(2))

ISSUE DATE OF NOA: Mar 28, 2000

                ONLINE STOCK MARKET GROUP
                1875 CENTURY PARK EAST, SUITE 1880
                LOS ANGELES, CA 90067

--------------------------------------------------------------------------------
                 ** IMPORTANT INFORMATION: 6 MONTH DEADLINE **

To avoid  ABANDONMENT of this  application,  either a "Statement of Use" (a.k.a.
"Allegation  of Use") or a "Request of  Extension of Time to File a Statement of
Use" (a.k.a. "Extension Request") and the appropriate fee(s) must be received in
the PTO within six months of the issue date of this  Notice Of  Allowance  (NOA)
for those goods and/or  services  based on intent to use.  Failure to do so will
result in the ABANDONMENT of this application.

Please note that both the "Statement of Use" and  "Extension  Request" have many
legal requirements,  including fees. These requirements are explained in the PTO
booklet  "Basic Facts About  Trademarks",  which can be obtained upon request at
(703)308-9000.  In addition,  there are printed forms  contained in this booklet
(for "Statements of Use" and "Extension Requests") for your use.
--------------------------------------------------------------------------------

           The following information should be reviewed for accuracy:

SERIAL NUMBER: 75/751428
MARK:          OBROKER.COM
OWNER:         Online Stock Market Group
               1875 Century Park East, Suite 1880
               Los Angeles, CALIFORNIA 90067

This  application  has the following  bases,  but not necessarily for all listed
goods/services:

     Section 1 (a) : NO       Section 1 (b) : YES      Section 44(e): NO

                      GOODS/SERVICES BY INTERNATIONAL CLASS

036-online   securities   brokerage   services,   and  consulting  on  financial
investments

               ALL OF THE GOODS/SERVICES IN EACH CLASS ARE LISTED

--------------------------------------------------------------------------------
            ADDITIONAL INFORMATION MAY BE PRESENT IN THE PT0 RECORDS

<PAGE>

                IN THE UNITED STATES PATENT AND TRADEMARK OFFICE

In re application of:                   Law Office

Online Stock Market Group               Examining Atty:
Serial No. 75/751,428
Filed: July 14, 1999                    Attorney Docket No.
Mark:   OBROKER.COM

                    STATEMENT OF USE UNDER 37 C.F.R. ss.2.88

Assistant Commissioner for Trademarks
2900 Crystal Drive
Arlington, VA 22202-3513

Sir:

         Applicant,  Online Stock Market  Group,  requests  registration  of the
above-captioned  service  mark in the U.S.  Patent  &  Trademark  Office  on the
Principal  Register  established  by the Act of July 5, 1946 (15 U.S.C.  1051 et
seq., as amended).  Three  specimens  showing the mark as used in commerce or in
connection with the services are submitted with this statement.

         Applicant  is using  the mark in  commerce  or in  connection  with the
services identified in this application.

         The date of first use of the mark was  January  10,  2000;  the date of
first use of the mark in  commerce  which the U.S.  Congress  may  regulate  was
January 10, 2000.

         The manner of use of the mark in  connection  with the  services is: by
imprinting the mark directly on advertising  media,  and in other ways customary
in the trade.

         The undersigned,  being hereby warned that willful false statements and
the like so made  are  punishable  by free or  imprisonment,  or both,  under 18
U.S.C.  ss.1001,  and that such willful  false  statements  may  jeopardize  the
validity of the application or any resulting  registration,  declares that he is
properly authorized to execute this Statement of Use on behalf of applicant;  he
believes  applicant to be the owner of the service mark sought to be registered;
the service

                                       1                         USSN 75/751,428

<PAGE>

mark is now in use in commerce;  all  statements  made of his own  knowledge are
true and all statements made on information and belief are believed to be true.

                                            Online Stock Market Group

Date: April 13 2000                       By:         DAVID BERGE
                                                      ----------------------
                                          Name/Title: David Berge,
                                                      Chief Information Officer
                                                      1875 Century Park East,
                                                      Suite 1880
                                                      Los Angeles, CA 90067

1008127

                                        2                        USSN 75/751,428

<PAGE>

                In the United States Patent and Trademark Office

File No:                        Application No.               Filing Date

TA-69242/DCA                    75/751,428                    July 14, 1999

Date Due:                       Date Mailed:                  Express Mail No.:

September 28, 2000              May 9, 2000

Applicant:
Online Stock Market Group

Title:
OBROKER.COM

Enclosures:                                                   Official Use Only!

x Transmittal
x Statement of Use
x Three specimens
x Revocation and Substitution of Power of Attorney
x Check in the amount of $100
x Certificate of Mailing
x Return Postcard

FLEHR HOHBACH TEST ALBRITTON AND HERBERT LIP                             0005643

5010.000 5/9/00 TA-69242/DCA SU/75/751,428/Online Stock Market Group $100.00

                                                                         0005643

  FLEHR HOHBACH TEST ALBRITTON
      AND HERBERT LLP                                UNION BANK OF CALIFORNIA
4 EMBARCADERO CENTER. SUITE 3400                       1970 Franklin Street
   SAN FRANCISCO, CA 94111                              Oakland, CA 94612
     (415) 781-1989

                                                            1149/1210

                                                        DATE              AMOUNT
PAY
TO THE
ORDER      Commissioner of Patents and Trademarks    May 9, 2000         $100.00
OF

                                    FLEHR HOHBACH TEST ALBRITTON AND HERBERT LLP

                                     /s/ ????????????????
                                     -------------------------------------------

                                     -------------------------------------------
                                                AUTHORIZED SlGNATURES

<PAGE>

[FLEHR
HOHBACH
TEST
ALBRITTON
& HERBERT         --------------------------
LLP LETTERHEAD]   Intellectual Property Law

                                                                     May 9, 2000

Assistant Commissioner for Trademarks
Box ITU FEE
2900 Crystal Drive
Arlington, VA 22202-3513

Re:  U.S. Trademark Application Serial No. 75/751,428
     Filed: July 14, 1999    Int'l Class 36
     Applicant: Online Stock Market Group
     Mark: OBROKER.COM
     Our Ref. TA-69242/DCA

Sir:

Transmitted herewith are the following:

1)   Statement of Use;
2)   Three Specimens;
3)   Check No. 5643 in the amount of $100.00; and
4)   Revocation and Substitution of Power of Attorney.

         The commissioner is hereby  authorized to charge any additional fees or
credit any overpayment to Deposit Account No. 06-1300 (order No.  TA-69242/DCA).
A duplicate copy of this sheet is enclosed for such purpose.

                                                Sincerely,

                                                FLEHR HOHBACH TEST
                                                ALBRITTON & HERBERT LLP

                                                By: DAVID ASHBY
                                                    ----------------------------
                                                    David C. Ashby
                                                    Reg. No. 36,432

DCA:axm:1009941
Enclosure

CERTIFICATE OF MAIL (37 CFR 1.8(a))

I hereby  certify that this paper (along with any referred to as being  attached
or enclosed)  is being  deposited  with the United  States  Postal  Service with
sufficient  postage as First Class Mail in an envelope  addressed to:  Assistant
Commissioner  for  Trademarks,  Box ITU FEE,  2900 Crystal Drive  Arlington,  VA
22202-3513 on May 9, 2000.

                                                    Signed: APRIL MENG
                                                            --------------------
                                                               April Meng

<PAGE>

Online Stock Market Inc. Presents
OBROKER.com(TM)
"It's Your Money, It's Your Choice"

Who We Are              Our Philosophy
                        Our Mission
                        Our Vision

Industry Background     History of Wall Street
                        History of the Securities Industry
                        Emergence of the Internet
                        Online Brokerage
                        Growth of the Internet
                        How the Internet Helps Small Business
                        Growth of the Securities Industry
                        Growth of Online Brokerage

    Obroker.com is presented by Online Stock Market, Inc., Member NASD/SIPC.
          (C)1999, 2000 Online Stock Market, Inc. All rights reserved.
            1875 Century Park East, Suite 1880, Los Angeles CA 90067

Who We Are                       What We Do                    Be An Affiliate
Login                            Open an Account               Join Private Club

Site Map                                                       Contact Us
Register for IPO                                               Trade Demo

http ://www.onlinestockmarket.com/who/                                 4/6/2000

<PAGE>

                REVOCATION AND SUBSTITUTION OF POWER OF ATTORNEY

To the Commissioner of Patents and Trademarks:

         The undersigned  owner of Trademark  Application  No.  75/751,428,filed
July 14, 1999, for the mark OBROKER.COM in International Class 36 hereby revokes
all powers of attorney  previously  granted in  connection  with this mark,  and
appoints the following  attorneys to prosecute this  application and to transact
all business in the Patent and Trademark Office connected  therewith:  Harold C.
Hohbach,  Reg. No. 17,757;  Aldo J. Test, Reg. No. 18,048;  Donald N. MacIntosh,
Reg. No. 20,316;  Edward S. Wright, Reg. No. 24,903; David J. Brezner,  Reg. No.
24,774; Richard E. Backus, Reg. No. 22,701; James A. Sheridan,  Reg. No. 25,435;
Robert B. Chickering,  Reg. No. 24,286;  Richard F. Trecartin,  Reg. No. 31,801;
Steven F. Caserza, Reg. No. 29,780;  Michael a. Kaufman, Reg. No. 32,988; Edward
N. Bachand,  Reg. No. 37,085;  R. Michael Ananian,  Reg. No. 35,050;  Stephen M.
Knauer, Reg. No. 38,208;  Robin M. Silva, Reg. No. 38,304;  David C. Ashby, Reg.
No.  36,432;  Maria S. Swiatek,  Reg. No. 37,244;  and Dolly A. Vance,  Reg. No.
39,054;  provided that if any one of said attorneys ceases being affiliated with
the law firm of Flehr Hohbach Test Albritton & Herbert LLP as partner,  employee
or of counsel,  such  attorney's  appointment as attorney and all powers derived
therefrom shall terminate on the date such attorney ceases being so affiliated.

         Direct all telephone calls to David C. Ashby at (650) 494-8700.

         Please note the change of address regarding all future correspondence:

                   FLEIR HOHBACH TEST ALBRITTON & HERBERT LLP
                        4 Embarcadero Center, Suite 3400
                          San Francisco, CA 94111-4187

Owner: Online Stock Market Group (a California Corporation)

By:      DAVID BERGE                                           Date: May 4, 2000
         ------------------                                         ------------
         David Berge
Title:   Chief Information Officer
Address: 1875 Century Park East, Suite 1880
         Los Angeles, CA 90067

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