Document:

EXHIBIT 4.8

                     SUMMARY INSTRUCTION SHEET FOR PURCHASER
    (to be read in conjunction with the entire Stock Purchase Agreement which
                                    follows)

A.   Complete  the  following  items  on  BOTH copies of the Purchase Agreement:

     1.   Signature  Page:  (i) Name of Purchaser (ii) Signature, Name and Title
     of  Individual  representing  Purchaser.

     2.   Appendix  I - Stock Certificate Questionnaire: Provide the information
     requested  by  the  Stock  Certificate  Questionnaire.

          Appendix  II  -  Registration  Statement  Questionnaire:  Provide  the
     information  requested  by  the  Registration  Statement  Questionnaire.

     3.   Return  BOTH  copies of a properly completed and signed Stock Purchase
     Agreement  including  the  properly  completed  Appendix  I  to:

                    Diversinet Corp.
                    2225 Sheppard Avenue East, Suite 1700
                    Toronto, Ontario
                    M2J 5C2
                    Attention:  Nagy Moustafa, President and CEO

B.   Instructions regarding the transfer of funds for the purchase of Shares (as
     defined in the attached Stock Purchase Agreement) will be sent by facsimile
     to  the  Purchaser.

C.   Upon  the resale of the Shares or the Warrant Shares by the Purchaser after
     the  Registration  Statement  covering the Shares and the Warrant Shares is
     effective, as described in the Stock Purchase Agreement, the Purchaser must
     deliver  a current prospectus of the Company to the buyer (prospectuses may
     be  obtained  from  the  Company  at  the  Purchaser's  request).

<PAGE>
                                                                     EXHIBIT 4.8

                            STOCK PURCHASE AGREEMENT

     THIS STOCK PURCHASE AGREEMENT is made as of the 27th day of March, 2002, by
and  between Diversinet Corp. (the "Company"), a corporation organized under the
laws  of  the  province  of  Ontario, Canada, with its principal offices at 2225
Sheppard  Avenue  East,  Suite  1700, Toronto, Ontario, M2J 5C2, Canada, and the
purchaser  whose name and address is set forth on the signature page hereof (the
"Purchaser").

     IN  CONSIDERATION  of the mutual covenants contained in this Agreement, the
Company  and  the  Purchaser  agree  as  follows:

SECTION  1.  AUTHORIZATION  OF  SALE  OF  THE  UNITS.  Subject  to the terms and
             ---------------------------------------
conditions  of  this  Agreement,  the  Company  has  authorized  the sale to the
Purchaser  of  the  number  of  units  (the "Units") each Unit consisting of one
common  share of the Company (the "Shares"), no par value (a "Common Share") and
three-quarters  of  one purchase warrant of the Company (a "Warrant"), set forth
on the signature page hereof.  The Warrants will be substantially in the form of
Appendix  III  to  this  Agreement.

SECTION  2.  AGREEMENT  TO  SELL  AND  PURCHASE  THE SHARES.  At the Closing (as
             ----------------------------------------------
defined in Section 3), the Company will sell the Units to the Purchaser, and the
Purchaser  will  buy  the  Units from the Company, upon the terms and conditions
hereinafter  set  forth,  at a price of $0.60 per Unit for an aggregate purchase
price  set  forth on the signature page hereof.  The Purchaser acknowledges that
the  Closing  price  of the Common Shares on the Nasdaq Market on March 26, 2002
was  $0.55.  The  Purchaser  acknowledges  further that the sale of the Units is
part  of  a  distribution  by  the  Company  of  up  to  5  million  Units.

SECTION  3.  DELIVERY  OF SHARES AT THE CLOSING.  The completion of the purchase
             ----------------------------------
and  sale  of  the  Units  (the  "Closing")  shall occur simultaneously with the
execution  hereof  (the "Closing Date").  At the Closing, the Company will issue
to  the Purchaser (i) one or more stock certificates representing the Shares and
(ii) one or more warrant certificates (in the form of Appendix III) representing
the  Warrants,  in each case registered in the name of the Purchaser, or in such
nominee  name(s)  as  designated  by  the Purchaser in writing, representing the
Shares.  The  name(s)  in  which the stock certificates and warrant certificates
are  to  be  registered  are  set  forth  in the Stock Certificate Questionnaire
attached  hereto  as  APPENDIX  I.  The  Company's  obligation  to  complete the
                      -----------
purchase  and  sale  of  the  Units  being  purchased hereunder and deliver such
certificates  to  the Purchaser at the Closing shall be subject to the following
conditions,  any  one or more of which may be waived by the Company: (a) receipt
by  the  Company  of same-day funds in the full amount of the purchase price for
the  Units  being purchased hereunder; (b) the accuracy in all material respects
of  the representations and warranties made by the Purchaser and the fulfillment
of  those  undertakings  of  the  Purchaser  to  be fulfilled prior to or at the
Closing,  and  (c)  the  Company agreeing to accept the Purchaser's subscription
prior  to  or  at the Closing.  The Purchaser's obligation to accept delivery of
such certificates and to pay for the Units evidenced thereby shall be subject to
the accuracy in all material respects of the representations and warranties made
by  the  Company herein and the fulfillment of those undertakings of the Company
to  be  fulfilled  prior  to  or  at  the  Closing.

SECTION  4.  REPRESENTATIONS,  WARRANTIES  AND  COVENANTS  OF  THE COMPANY.  The
             -------------------------------------------------------------
Company  hereby represents and warrants to, and covenants with, the Purchaser as
follows:

     4.1     ORGANIZATION AND QUALIFICATION.  The Company is a corporation duly
             -------------------------------
organized,  validly  existing  and  in  good standing under the laws of Ontario,
Canada.

     4.2     AUTHORIZED  CAPITAL  STOCK.  The  authorized  capital  stock of the
             --------------------------
Company  consists of an unlimited number of Common Shares.  The number of Common
Shares  and  all  subscriptions,  warrants, options, convertible securities, and
other  rights  to purchase or otherwise acquire equity securities of the Company
issued  and outstanding  as at October 31, 2001, are as set forth in the audited
financial  statements  of  the  Company  for  the  year  ended October 31, 2001.

     4.3     ISSUANCE, SALE AND DELIVERY OF THE SHARES.  The Shares and Warrants
             -----------------------------------------
which  form  the  Units being purchased hereunder have been duly authorized, and
when  issued,  delivered and paid for in the manner set forth in this Agreement,
will  be  duly  authorized,  validly  issued,  fully  paid  and  non-assessable.

<PAGE>
     4.4     DUE  EXECUTION, DELIVERY AND PERFORMANCE OF THE AGREEMENTS.  The
             ----------------------------------------------------------
Company  has  full legal right, corporate power and authority to enter into this
Agreement  and  perform the transactions contemplated hereby. This Agreement has
been duly authorized, executed and delivered by the Company. The consummation by
the  Company  of  the  transactions  herein  contemplated  will  not violate any
provision  of  the  organizational  documents  of  the  Company.  The execution,
delivery  and  performance of this Agreement by the Company and the consummation
by  the  Company  of the transactions herein contemplated will not result in the
creation  of  any lien, charge, security interest or encumbrance upon any assets
of  the Company pursuant to the terms or provisions of, or conflict with, result
in the breach or violation of, or constitute, either by itself or upon notice or
the  passage  of time or both, a default under any material agreement, mortgage,
deed  of trust, lease, franchise, license, indenture, permit or other instrument
to which the Company is a party or by which the Company or any of its properties
may be bound or affected and in each case which individually or in the aggregate
would  have a material adverse effect on the condition (financial or otherwise),
properties, business, prospects, or results of operations of the Company and its
subsidiaries,  taken as a whole (a "Material Adverse Effect"), or any statute or
any  authorization, judgement, decree, order, rule or regulation of any court or
any regulatory body, administrative agency or other governmental body applicable
to  the  Company  or  any  of  its respective properties. Upon its execution and
delivery,  and  assuming  the  valid  execution  thereof  by the Purchaser, this
Agreement  will  constitute  a  valid  and  binding  obligation  of the Company,
enforceable  against  the  Company  in  accordance  with  its  terms,  except as
enforceability  may  be  limited  by  applicable  bankruptcy,  insolvency,
reorganization,  moratorium or similar laws affecting creditors' and contracting
parties' rights generally and except as enforceability may be subject to general
principles of equity (regardless of whether such enforceability is considered in
a  proceeding  in  equity  or  at  law).

     4.5.     INTEGRATION,  ETC.  The Company has not in the  past  nor  will it
              ------------------
hereafter  take  any action to sell, offer for sale or solicit offers to buy any
securities  of  the Company which would bring the offer, issuance or sale of the
Units,  as contemplated by this Agreement, within the provisions of Section 5 of
the  Securities  Act.  Neither the Company nor any of its Affiliates (as defined
in  Rule  501(b)  of  Regulation  D  under  the Securities Act) has directly, or
through  any  agent,  (i)  sold,  offered  for  sale, solicited offers to buy or
otherwise negotiated in respect of, any "security" (as defined in the Securities
Act) which is or could be integrated with the sale of the Units in a manner that
would  require  the  registration  under  the  Securities  Act  of the Shares or
Warrants  which  form  the  Units  or  (ii)  engaged  in  any  form  of  general
solicitation  or  general  advertising (as those terms are used in  Regulation D
under the Securities Act) in connection with the offering of the Units or in any
manner  involving  a  public  offering within the meaning of Section 4(2) of the
Act.

     4.6     COMPLIANCE  WITH  SECURITIES  LAWS.  Subject to the accuracy of the
             ----------------------------------
representations  and  warranties of the Purchaser contained herein, the issuance
of  the  Shares  and Warrants which form the Units to the Purchaser hereunder is
exempt  from  the  registration  and  prospectus  delivery  requirements  of the
Securities  Act  of  1933,  as  amended  (the  "Securities  Act").

     4.7     ADDITIONAL INFORMATION.  The Company has made available to the
             ----------------------
Purchaser  a  true  and  complete  copy of each report, schedule, and definitive
proxy  statement  filed  by the Company with the Commission under the Securities
Exchange  Act  of  1934  (the  "Exchange  Act")  since November 1, 2000 (as such
documents  have  since  the  time of their filing been amended, the "Information
Documents").

SECTION 5.  REPRESENTATIONS,  WARRANTIES  AND  COVENANTS  OF  THE  PURCHASER.
            ----------------------------------------------------------------

     5.1     The  Purchaser  represents and warrants to, and covenants with, the
Company  that: (i) the Purchaser is knowledgeable, sophisticated and experienced
in  making,  and  is qualified to make, decisions with respect to investments in
securities  representing  an  investment  decision  like  that  involved  in the
purchase  of  the  Units,  including  investments  in  securities  issued by the
Company, and has requested, received, reviewed and understood all information it
deems  relevant in making an informed decision to purchase the Units, including,
without limitation, the information contained in the Information Documents; (ii)
it  acknowledges  that  the offering of the Units pursuant to this Agreement has
not  been  reviewed  by  the  Commission  or  any  state  or Canadian regulatory
authority; (iii) the Purchaser is acquiring the number of Units set forth in the
signature  page  hereto,  for  its  own  account for investment only and with no
present  intention of distributing any of the Shares or Warrants which form such
Units  or  any arrangement or understanding with any other persons regarding the
distribution  thereof;  (iv)  the  Purchaser  will  not, directly or indirectly,
offer,  sell, pledge, transfer or otherwise dispose of (or solicit any offers to
buy,  purchase  or  otherwise  acquire or take a pledge of) any of the Shares or
Warrants which form such Units except in compliance with the Securities Act, the
Securities Act Rules and Regulations and any applicable state securities or blue
sky  laws;  (v)

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<PAGE>
the Purchaser has completed or caused to be completed the Registration Statement
Questionnaire  and  the  Stock  Certificate  Questionnaire,  attached  hereto as
APPENDIX  I  and  APPENDIX  II,  for  use  in  preparation  of  the Registration
-----------       ------------
Statement,  and  the  answers thereto are true and correct as of the date hereof
and  will  be  true  and  correct  as  of the effective date of the Registration
Statement;  (vi)  the Purchaser has, in connection with its decision to purchase
the  number of Units set forth on the signature page hereof, not relied upon any
representations or other information (whether oral or written) other than as set
forth in the Information Documents and the representations and warranties of the
Company  contained herein; (vii) the Purchaser has had an opportunity to discuss
this  investment  with  representatives of the Company and ask questions of them
and such questions have been answered to the full satisfaction of the Purchaser;
and  (viii) the Purchaser is an "accredited investor" within the meaning of Rule
501  of  Regulation  D  promulgated  under  the  Securities  Act.

     5.2     The  Purchaser  hereby  covenants  with the Company not to make any
sale  of  the  Shares  or Warrants which form the Units, or of the Common Shares
issuable upon exercise of such Warrants (the "Warrant Shares) without satisfying
the  prospectus  delivery  requirements  under  the  Securities  Act,  if  any.

     5.3     The  Purchaser  further  represents  and warrants to, and covenants
with,  the  Company  that (i) the Purchaser has full right, power, authority and
capacity  to  enter  into  this  Agreement  and  to  consummate the transactions
contemplated  hereby  and  has  taken  all  necessary  action  to  authorize the
execution,  delivery  and  performance  of this Agreement, (ii) the Purchaser is
duly  organized, validly existing and in good standing under the laws of the its
jurisdiction  of organization, and (iii) upon the execution and delivery of this
Agreement, this Agreement shall constitute a valid and binding obligation of the
Purchaser enforceable in accordance with its terms, except as enforceability may
be  limited  by applicable bankruptcy, insolvency, reorganization, moratorium or
similar  laws affecting creditors' and contracting parties' rights generally and
except  as  enforceability  may  be  subject  to  general  principles  of equity
(regardless  of  whether  such  enforceability  is considered in a proceeding in
equity  or  at  law).

     5.4     The  Purchaser  recognizes  that  an  investment  in  the  Units is
speculative  and  involves a high degree of risk, including a risk of total loss
of  the  Purchaser's  investment.

     5.5     All  of  the  information  provided to the Company or its agents or
representatives  concerning the Purchaser's suitability to invest in the Company
and  the representations and warranties contained herein, are complete, true and
correct  as  of  the date hereof.  The Purchaser understands that the Company is
relying  on  the  statements  contained  herein  to  establish an exemption from
registration  under  U.S.  federal  and  state  securities  laws.

     5.6     The  address  set  forth  in  the  signature  page  hereto  is  the
Purchaser's  true  and  correct  domicile.

     5.7     The Purchaser covenants to provide the Company an updated, accurate
and  complete  plan  of  distribution  at  all times during which the Company is
required  to  keep  the  Registration  Statement  in  effect.

     5.8     The Purchaser understands and agrees that each certificate or other
document  evidencing  any of the Shares or Warrant Shares shall be endorsed with
the  legend  in  substantially  the  form  set  forth  below and the certificate
evidencing  the  Warrants shall be endorsed with the legend in substantially the
form  set  forth  in  Appendix  III,  as  well  as any other legends required by
applicable  law,  and  the  Purchaser  covenants  that  the  Purchaser shall not
transfer  the  Shares,  Warrants  or  Warrant  Shares  represented  by  any such
certificate without complying with the restrictions on transfer described in the
legends  endorsed  on  such  certificates:

         THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
         REGISTERED  UNDER  THE  SECURITIES  ACT  OF 1933, AS AMENDED
         ("SECURITIES  ACT"),  OR  REGISTERED  OR QUALIFIED UNDER ANY
         APPLICABLE  STATE  SECURITIES  LAWS  OR  CANADIAN SECURITIES
         LAWS.  THESE  SECURITIES  MAY  NOT BE TRANSFERRED UNLESS (A)
         COVERED  BY  AN  EFFECTIVE  REGISTRATION STATEMENT UNDER THE
         SECURITIES  ACT AND REGISTERED OR QUALIFIED UNDER APPLICABLE
         STATE  LAW  AND,  IF APPLICABLE, CANADIAN SECURITIES LAWS OR
         (B)  EXEMPTIONS  FROM  SUCH  REGISTRATION  OR  QUALIFICATION
         REQUIREMENTS ARE AVAILABLE. AS A CONDITION TO PERMITTING ANY
         TRANSFER  OF  THESE SECURITIES, THE COMPANY MAY REQUIRE THAT
         IT BE FURNISHED WITH AN

                                        4
<PAGE>
         OPINION  OF  COUNSEL ACCEPTABLE TO THE COMPANY TO THE EFFECT
         THAT  NO  REGISTRATION OR QUALIFICATIONS IS LEGALLY REQUIRED
         FOR  SUCH  TRANSFER.

         IF  THE  DISTRIBUTIONS  OF THE SECURITIES REPRESENTED BY THE
         CERTIFICATE WAS SUBJECT TO SECURITIES LEGISLATION OF CANADA,
         THEN  UNLESS  PERMITTED  UNDER  SECURITIES  LEGISLATION  OF
         CANADA, THE HOLDER OF THESE SECURITIES SHALL NOT TRADE THESE
         SECURITIES  BEFORE  [THE DATE WHICH IS FOUR MONTHS AFTER THE
         DATE  OF  CLOSING].

SECTION  6.  SURVIVAL  OF  REPRESENTATIVES,  WARRANTIES  AND  AGREEMENTS.
             -----------------------------------------------------------
Notwithstanding  any  investigation  made  by  any  party to this Agreement, all
covenants,  agreements,  representations  and warranties made by the Company and
the  Purchaser  herein  and  in any certificates or documents delivered pursuant
hereto  or  in  connection  herewith shall survive following the delivery to the
Purchaser  of  the Shares and Warrants being purchased and the payment therefor.

SECTION  7.  REGISTRATION  OF  THE  SHARES:  COMPLIANCE WITH THE SECURITIES ACT.
             ------------------------------------------------------------------

     7.1  REGISTRATION  STATEMENT  ON  FORM  F-3.  The  Company  represents  and
          --------------------------------------
warrants  that  the Company meets the requirements for use of Form F-3 under the
Securities  Act.

     7.2  REGISTRATION  PROCEDURES  AND  EXPENSES.  The  Company  shall:
          ---------------------------------------

          (a)     as soon as practicable, but in no event later than ninety (90)
days following the date of Closing, prepare and file with the SEC a Registration
Statement  on  Form  F-3  relating  to the resale pursuant to Rule 415 under the
Securities  Act  of the Shares and the Warrant Shares by the Purchaser from time
to  time  through  the automated quotation system of Nasdaq or the facilities of
any  national  securities exchange on which the Common Shares are then traded or
in  privately-negotiated  transactions,  and specifically excluding underwritten
offerings;

          (b)     subject  to  receipt  of  necessary  information  from  the
Purchaser, use reasonable commercial efforts to cause the Registration Statement
(as  defined  in  Section 7.3 hereof) to be declared effective by the Commission
within  one  hundred  and  eighty (180) days after the Registration Statement is
filed  with  the  Commission;

          (c)     promptly  and  in  good  faith  respond  to  all  Commission's
comments  on  the  Registration  Statement,  and within two (2) business days of
receipt  of  an  indication from the Commission that it has no further comments,
request  acceleration  of  the effectiveness of the registration at the earliest
practicable  time;

          (d)     prepare  and  file  with  the  Commission  such amendments and
supplements  to the Registration Statement and the prospectus used in connection
therewith as may be necessary to keep the Registration Statement effective until
the  earlier of (i) the second anniversary of the Closing Date, (ii) the date on
which  the Purchaser may sell all the Shares then held by the Purchaser within a
three-month  period  in accordance with Rule 144 under the Securities Act ("Rule
144"), or (iii) such time as all the Shares purchased by the Purchaser have been
sold  pursuant  to  a  registration  statement;

          (e)     so  long  as  the Registration Statement is effective covering
the  resale  of the Shares owned by the Purchaser, furnish to the Purchaser with
respect  to  the  Shares  and  Warrant  Shares registered under the Registration
Statement  such  reasonable  number  of  copies  of  prospectuses and such other
documents  as  the  Purchaser may reasonably request, in order to facilitate the
public  sale  or other disposition of all or any of the Shares by the Purchaser;

          (f)     file  documents required of the Company for blue sky clearance
in  states  specified  in  writing by the Purchaser; provided, however, that the
Company shall not be required to qualify to do business or consent to service of
process  in  any  jurisdiction  in  which  it  is not so qualified or has not so
consented;

          (g)     bear  all  expenses  in  connection  with  the  procedures  in
paragraphs  (a)  through  (f)  of  this  Section 7.2 and the registration of the
Shares and Warrant Shares pursuant to the Registration Statement, except for any
underwriting  discounts,  brokerage  fees  and  commissions  incurred  by  the
Purchaser,  if  any;  and

                                        5
<PAGE>
          (h)     with  a view to making available to the Purchaser the benefits
of  Rule  144  (or  its  successor rule) and any other rule or regulation of the
Commission  that  may  at  any  time permit the Purchaser to sell the Shares and
Warrant  Shares  to  the  public without registration, the Company covenants and
agrees  to:  (i)  make and keep public information available, as those terms are
understood and defined in Rule 144, until the earlier of (A) such date as all of
the  Purchaser's  Shares  and  Warrant  Shares  may  be  resold  within  a given
three-month  period  pursuant to Rule 144 or any other rule of similar effect or
(B)  such  date  as  all of the Purchaser's Shares and Warrant Shares shall have
been resold and (ii) file with the Commission in a timely manner all reports and
other  documents  required of the Company under the Securities Act and under the
Exchange  Act.

SECTION  8.  NOTICES.  All  notices, requests, consents and other communications
             -------
hereunder  shall  be  in  writing,  shall be mailed by first-class registered or
certified  airmail,  confirmed  facsimile  or  nationally  recognized  overnight
express  courier  postage  prepaid, and shall be deemed given when so mailed and
shall  be  delivered  as  addressed  as  follows:

          if  to  the  Company,  to:

               Diversinet  Corp.
               2225  Sheppard  Avenue  East,  Suite  1700
               Toronto,  Ontario  M2J  5C2,  Canada
               Facsimile:  (416)  756-7346
               Attention:  Nagy  Moustafa,  President  and  CEO

or  to  such  other person at such other place as the Company shall designate to
the  Purchaser  in  writing;  and

if  to  the Purchaser, at its address as set forth at the end of this Agreement,
or  at such other address or addresses as may have been furnished to the Company
in  writing.

SECTION 9.  CHANGES.  This  Agreement  may  not  be  modified or amended except
            -------
pursuant  to  an instrument in writing, signed by the Company and the Purchaser.

SECTION 10.  HEADINGS.  The  headings of the various sections of this Agreement
             --------
have  been inserted for convenience of reference only and shall not be deemed to
be  part  of  this  Agreement.

SECTION 11.  SEVERABILITY.  In  case  any provision contained in this Agreement
             ------------
should  be  invalid,  illegal  or  unenforceable  in  any respect, the validity,
legality  and  enforceability of the remaining provisions contained herein shall
not  in  any  way  be  affected  or  impaired  thereby.

SECTION 12.  GOVERNING  LAW.  This Agreement shall be governed by and construed
             --------------
in  accordance  with the laws of the State of New York, without giving effect to
any  choice  of  law  provisions  thereof.

SECTION 13.  COUNTERPARTS.  This  Agreement  may  be  executed  in  two or more
             ------------
counterparts,  each  of  which  shall constitute an original, but both of which,
when  taken  together,  shall  constitute  but  one instrument, and shall become
effective  when  one  or more counterparts have been signed by each party hereto
and  delivered  to  the  other  party.

SECTION 14.  ENTIRE  AGREEMENT.  This  Agreement  (including  the  attachments
             -----------------
hereto) contains the entire agreement of the parties with respect to the subject
matter  hereof  and supersedes and is in full substitution for any and all prior
oral  or  written  agreements  and  understandings  between them related to such
subject  matter,  and neither party hereto shall be liable or bound to the other
party  hereto  in  any  manner  with  respect  to  such  subject  matter  by any
representations, indemnities, covenants or agreements except as specifically set
forth  herein.

SECTION 15.  RIGHT  OF  ACCEPTANCE.  The Purchaser acknowledges and agrees that
             ---------------------
the  Company  shall have the right, at its sole discretion, to accept or reject,
up to the Closing, any subscription for Units and that acceptance thereof is not
subject  to  the  Company  having  received  any  minimum amount of subscription
proceeds.  The  Purchaser further acknowledges and agrees that execution of this
Agreement  by  the  Purchaser  shall not result in any obligation on the Company
until  such  time as this Agreement shall have been duly executed by the Company
and Closing shall have occurred.  Any funds received by the Company or its agent
from  the  Purchaser  on  account  of  the  purchase  price of the

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<PAGE>
Units  will  be returned to the Purchaser (without interest or deduction) at the
address indicated in Appendix I in the event the Company determines, in its sole
discretion,  to  reject  the  Purchaser's  subscription  for  Shares.

SECTION 16.  RIGHT  TO  APPOINT  AGENT.  The  Purchaser  acknowledges  that the
             --------------------------
Company  retains the right, in its sole discretion, to appoint a placement agent
in  connection with the sale of Shares to the Purchaser and that the Company may
pay  to  such  placement agent a fee which may be calculated by reference to the
purchase  price  payable  by  the  Purchaser.

     IN  WITNESS  WHEREOF,  the  parties hereto have caused this Agreement to be
executed  by  their  duly  authorized  representatives  shown  below:

                                     ---------------------------------------
                                     [Name of Purchaser]

                                     By:
                                        ------------------------------------
                                           Name:
                                           Title:

                                     Address:
                                             -------------------------------

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

                                                ----------------------------
                                     Telephone:
                                                ----------------------------
                                     Facsimile:
                                                ----------------------------
                                     Date:
                                                ----------------------------

Number of                Price Per            Aggregate
Units                    Unit in              Price in
to be Purchased          U.S. Dollars         U.S. Dollars
-----------------        -------------        -------------
                         $0.60

Accepted and Agreed to by:

                                DIVERSINET CORP.

                                By:
                                   ---------------------------------
                                      Nagy Moustafa, President
                                      and Chief Executive Officer

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

                                        7
<PAGE>
                                                                     EXHIBIT 4.8

                                   APPENDIX I

                                DIVERSINET CORP.

                         STOCK CERTIFICATE QUESTIONNAIRE

Pursuant  to  Section  3  of the Agreement, please provide us with the following
information:

1.   The  exact name that your Shares and Warrants are to be registered in (this
     is  the  name that will appear on your stock certificate(s)). You may use a
     nominee  name  if  appropriate:

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

2.   The  relationship between the Purchaser and the Registered Holder listed in
     response  to  item  1  above:

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

3.   The  mailing  address of the Registered Holder listed in response to item 1
     above:

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

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

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

4.   The  Social  Security Number or Tax Identification Number of the Registered
     Holder  listed  in  response  to  item  1  above:

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

<PAGE>
                                   APPENDIX II

                                DIVERSINET CORP.

                      REGISTRATION STATEMENT QUESTIONNAIRE

     In  connection  with  the preparation of the Registration Statement, please
provide  us  with  the  following  information:

     1.     Pursuant  to  the  "Selling Shareholder" section of the Registration
Statement,  please  state you or your organization's address and name exactly as
it  should  appear  in  the  Registration  Statement:

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

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

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

     2.     Please  provide  the  number  of  Common  Shares  that  you  or your
organization  will  own  immediately  after  Closing, including those Shares and
Warrants  purchased  by  you  or  your  organization  pursuant  to this Purchase
Agreement  and those Common Shares purchased by you or your organization through
other  transactions:

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

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

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

     3.     Have  you  or  your  organization  had any position, office or other
material  relationship  within  the past three (3) years with the Company or its
affiliates?  Please  circle  the  correct  answer.

            Yes          No

<PAGE>EXHIBIT 4.9

                                  Appendix III

    THE  SECURITIES  REPRESENTED  BY  THIS  CERTIFICATE  HAVE  NOT  BEEN
    REGISTERED  UNDER  THE SECURITIES ACT OF 1933, AS AMENDED ("SECURITIES
    ACT"),  OR  REGISTERED  OR  QUALIFIED  UNDER  ANY  APPLICABLE  STATE
    SECURITIES  LAWS  OR CANADIAN SECURITIES LAWS. THESE SECURITIES OR THE
    SECURITIES  ISSUABLE  UPON  EXERCISE  THEREOF  MAY  NOT BE TRANSFERRED
    UNLESS  (A)  COVERED  BY AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
    SECURITIES  ACT AND REGISTERED OR QUALIFIED UNDER APPLICABLE STATE LAW
    OR (B) EXEMPTIONS FROM SUCH REGISTRATION OR QUALIFICATION REQUIREMENTS
    ARE  AVAILABLE.  AS  A  CONDITION  TO PERMITTING ANY TRANSFER OF THESE
    SECURITIES,  THE  COMPANY  MAY  REQUIRE  THAT  IT BE FURNISHED WITH AN
    OPINION  OF  COUNSEL  ACCEPTABLE  TO THE COMPANY TO THE EFFECT THAT NO
    REGISTRATION  OR QUALIFICATIONS IS LEGALLY REQUIRED FOR SUCH TRANSFER.

    IF  THE DISTRIBUTIONS OF THE SECURITIES REPRESENTED BY THE CERTIFICATE
    WAS SUBJECT TO SECURITIES LEGISLATION OF CANADA, THEN UNLESS PERMITTED
    UNDER SECURITIES LEGISLATION OF CANADA, THE HOLDER OF THESE SECURITIES
    SHALL  NOT  TRADE  THESE  SECURITIES  OR  THE SECURITIES ISSUABLE UPON
    EXERCISE  THEREOF  BEFORE  [THE  DATE  WHICH  IS  FOUR MONTHS FROM THE
    CLOSING  DATE].

                                                -    Warrants

                                DIVERSINET CORP.
                              WARRANT CERTIFICATE

          This  warrant  certificate  ("Warrant Certificate") certifies that for
value received - or registered assigns (the "Holder") is the owner of the number
of  warrants  ("Warrants")  specified  above,  each of which entitles the Holder
thereof  to  purchase, at any time on or before the Expiration Date (hereinafter
defined)  one  fully  paid  and  non-assessable  common share in the capital  of
Diversinet  Corp.,  a corporation incorporated under the laws of Ontario, Canada
(the  "Company"),  at a purchase price of $0.72 per common share in lawful money
of  the United States of America in cash or by certified or cashier's check or a
combination  of  cash and certified or cashier's check, subject to adjustment as
hereinafter  provided.  The  common  shares  in  the  capital of the Company are
hereinafter  referred  to  as  "Common  Shares".

     1    Warrant;  Purchase  Price
          -------------------------

          Each  Warrant  shall  entitle  the Holder to purchase one Common Share
and  the purchase price payable upon exercise of the Warrants shall initially be
$0.72  per Common Share in lawful money of the United States of America, subject
to  adjustment  as  hereinafter  provided  (the "Purchase Price").  The Purchase
Price  and  number  of  Common Shares issuable upon exercise of each Warrant are
subject  to  adjustment  as  provided  in  Article  6.

     2    Exercise;  Expiration  Date
          ---------------------------

          2.1  The Warrants are exercisable, at the option of the Holder, at any
time after issuance and on or before the Expiration Date, upon surrender of this
Warrant  Certificate  to  the  Company  together with a duly completed Notice of
Exercise,  in  the  form  attached hereto as Exhibit A, and payment of an amount
equal  to  the  Purchase Price times the number of Warrants to be exercised.  In
the  case  of exercise

<PAGE>
of  less  than  all  the  Warrants  represented by this Warrant Certificate, the
Company  shall  cancel  the  Warrant  Certificate upon the surrender thereof and
shall  execute  and  deliver  a  new Warrant Certificate for the balance of such
Warrants.

          2.2  The  term  "Expiration  Date"  shall mean 5:00 p.m. New York time
on March 26, 2005 or if such date shall in the State of New York be a holiday or
a  day  on which banks are authorized to close, then 5:00 p.m. New York time the
next  following date which in the State of New York is not a holiday or a day on
which  banks  are  authorized  to  close.

     3    Registration  and  Transfer  on  Company  Books
          -----------------------------------------------

          3.1  The  Company  shall  maintain  books  for  the  registration  and
transfer  of the Warrants and the registration and transfer of the Common Shares
issued  upon  exercise  of  the  Warrants.

          3.2  Prior  to  due  presentment  for registration of transfer of this
Warrant  Certificate, or the Common Shares issued upon exercise of the Warrants,
the  Company  may  deem  and  treat  the registered Holder as the absolute owner
thereof.

          3.3  Neither  this  Warrant  nor  the  Common  Shares  issuable  upon
exercise  hereof  have  been  registered  under  the  Securities Act of 1933, as
amended  (the  "Act") or qualified under a prospectus filed under the Securities
Act  (Ontario).  The  Company  will  not  permit the transfer of this Warrant or
issue  or  transfer  the  Common Shares issuable upon exercise hereof unless (i)
there  is an effective registration covering such Warrant or such shares, as the
case  may  be, under the Act and applicable states securities laws and is exempt
from,  or  not  subject  to,  the  prospectus requirements of the Securities Act
(Ontario),  (ii)  it first receives a letter from an attorney, acceptable to the
Company's  board  of directors or its agents, stating that in the opinion of the
attorney  the  proposed  issue or transfer is exempt from registration under the
Act  and  under  all  applicable  state securities laws, and exempt from, or not
subject  to,  the  prospectus  requirements  of the Securities Act (Ontario), or
(iii)  the  transfer is made pursuant to Rule 144 under the Act, and exempt from
the  prospectus  requirements of the Securities Act (Ontario). The Company shall
register  upon  its  books any permitted transfer of a Warrant Certificate, upon
surrender  of  same  to  the  Company with a written instrument of transfer duly
executed  by  the  registered Holder or by a duly authorized attorney.  Upon any
such registration of transfer, new Warrant Certificate(s) shall be issued to the
transferee(s)  and  the surrendered Warrant Certificate shall be canceled by the
Company.  A  Warrant  Certificate  may  also  be exchanged, at the option of the
Holder, for new Warrant Certificates representing in the aggregate the number of
Warrants  evidenced  by  the  Warrant  Certificate  surrendered.

          3.4  Subject  to  Section  3.5,  at  all  times  this  Warrant and the
securities  issuable  upon exercise hereof shall bear a legend in the form which
appears on the face page of this Warrant Certificate by which the Holder of this
Warrant  and  Holder  of  such  securities  shall  be  bound.

          3.5  This Warrant Certificate or the securities issuable upon exercise
of  the  Warrants  hereof  shall  not  be  required  to bear such legend if such
security  shall  be  issued  upon:

          (i)  the  transfer  or exchange of such security in the event that, at
the  time  of  such  transfer  or  exchange,  (A)  such security shall have been
registered  under  the  Act,  the Registration Statement in connection therewith
shall have been declared effective and such security shall have been disposed of
pursuant  to  such  effective  Registration Statement and is exempt from, or not
subject  to,  the

                                      -2-
<PAGE>
prospectus  requirements  of  the  Securities Act (Ontario) or (B) such security
shall  have been sold in compliance with Rule 144 (or any similar provision then
in  force)  under the Act in such a manner that resale of such security will not
require  registration  under  the Act and is exempt from, or not subject to, the
prospectus  requirements  of  the  Securities  Act  (Ontario);  or

          (ii)  the  transfer  or  exchange  of  such  security not bearing, nor
otherwise  required  under  the  terms  hereof  to  bear,  such  legend.

          4    Reservation  of  Shares
               -----------------------

          The  Company  covenants  that  it  will  at all times reserve and keep
available  out  of its authorized Common Shares, solely for the purpose of issue
upon  exercise  of  the  Warrants, such number of Common Shares as shall then be
issuable  upon  the  exercise of all outstanding Warrants. The Company covenants
that  all  Common  Shares  which shall be issuable upon exercise of the Warrants
shall  be duly and validly issued and, upon payment for such shares as set forth
herein, fully paid and non-assessable and free from all taxes, liens and charges
with  respect  to  the  issue  thereof  (other than any taxes, liens, or charges
resulting  from  any  action  or inaction of the Holder), and that upon issuance
such  shares  shall  be  listed on each national securities exchange, if any, on
which  the  other  Common  Shares  are  then  listed.

     5    Loss  or  Mutilation
          --------------------

          Upon receipt by the Company of reasonable evidence of the ownership of
and  the  loss, theft, destruction or mutilation of any Warrant Certificate and,
in  the case of loss, theft or destruction, of indemnity reasonably satisfactory
to  the  Company, or, in the case of mutilation, upon surrender and cancellation
of  the  mutilated Warrant Certificate, the Company shall execute and deliver in
lieu thereof a new Warrant Certificate representing an equal number of Warrants.

     6    Adjustment  of  Purchase  Price  and  Number  of  Shares  Deliverable
          ---------------------------------------------------------------------

          6.1  The number of Common Shares purchasable upon the exercise of each
Warrant  (such  shares  being  referred  to  in  this  Section 6 as the "Warrant
Shares")  and  the  Purchase  Price  with respect to the Warrant Shares shall be
subject  to  adjustment  as  follows:

          (a)  In  case  the  Company  shall  (i)  declare  a dividend or make a
distribution  on  its Common Shares payable in shares of its capital stock, (ii)
subdivide  its outstanding Common Shares through stock split or otherwise, (iii)
combine its outstanding Common Shares into a smaller number of Common Shares, or
(iv)  issue  by  reclassification  of  its  Common  Shares  (including  any such
reclassification  in  connection  with  a  consolidation  or merger in which the
Company  is  the  continuing  corporation)  other securities of the Company, the
number and/or nature of Warrant Shares purchasable upon exercise of each Warrant
immediately prior thereto shall be adjusted so that the Holder shall be entitled
to  receive  the  kind  and  number of Warrant Shares or other securities of the
Company  which  he  would  have owned or have been entitled to receive after the
happening  of any of the events described above, had such Warrant been exercised
immediately prior to the happening of such event or any record date with respect
thereto.  An  adjustment  made  pursuant  to  this  paragraph  (a)  shall become
effective  retroactively  as  of  the  record  date  of  such  event.

          (b)  In  case  the  Company shall issue rights, options or warrants or
securities  convertible  into  Common Shares to the holders of its Common Shares
generally,  entitling  them  (for  a period expiring

                                      -3-
<PAGE>
within  forty-five  (45)  days  after  the record date referred to below in this
paragraph  (b))  to subscribe for or purchase Common Shares at a price per share
which  (together  with  the  value  of  the consideration, if any, paid for such
rights, options, warrants or convertible securities) is lower on the record date
referred  to  below  than  95%  of  the  then  Market Price Per Common Share (as
determined  pursuant  to  Section  9.2), the number of Warrant Shares thereafter
purchasable upon the exercise of each Warrant shall be determined by multiplying
the  number  of Warrant Shares immediately theretofore purchasable upon exercise
of  each  Warrant  by  a fraction, of which the numerator shall be the number of
Common  Shares  outstanding  on  such  record date plus the number of additional
Common  Shares  purchased  pursuant  to such offer, and of which the denominator
shall  be  the  number of Common Shares outstanding on such record date plus the
number  of  shares  which  the  aggregate  offering price of the total number of
Common  Shares  so  purchased  (together with the value of the consideration, if
any,  paid  for  such rights, options, warrants or convertible securities) would
purchase  at  the  then  Market Price Per Common Share. Such adjustment shall be
made at the expiration of the period during which such rights, options, warrants
or convertible securities may be exercised or converted, as the case may be, and
shall become effective retroactively as of the record date for the determination
of  shareholders  entitled  to  receive  such  rights,  options,  warrants  or
convertible  securities.

          (c)  In case the Company shall distribute to all holders of its Common
Shares,  or  all  holders  of  Common  Shares shall otherwise become entitled to
receive,  shares  in  the  capital  of  the  Company  (other  than  dividends or
distributions  on  its  Common  Shares  referred  to  in  paragraph  (a) above),
evidences  of  its  indebtedness  or  rights,  options,  warrants or convertible
securities  providing  the  right to subscribe for or purchase any shares in the
capital  of the Company or evidences of its indebtedness (other than any rights,
options, warrants or convertible securities referred to in paragraph (b) above),
then  in  each case the number of Warrant Shares thereafter purchasable upon the
exercise  of  each  Warrant  shall  be  determined  by multiplying the number of
Warrant  Shares  theretofore purchasable upon the exercise of each Warrant, by a
fraction, of which the numerator shall be the then Market Price Per Common Share
(as  determined  pursuant  to Section 9.2) on the record date mentioned below in
this  paragraph (c), and of which the denominator shall be the then Market Price
Per  Common  Share  on  such record date, less the then fair value per share (as
determined  by  the  Board  of  Directors  of the Company, in good faith) of the
shares  in  the  capital of the Company (other than Common Shares), evidences of
indebtedness,  or  of  such rights, options, warrants or convertible securities,
distributable  with respect to each Common Share.  Such adjustment shall be made
whenever any such distribution is made, and shall become effective retroactively
as  of the record date for the determination of shareholders entitled to receive
such  distribution.

          (d)  In  the  event  of  any  capital  reorganization  or  any
reclassification  (not  otherwise  referred  to  in  paragraph (a) above) of the
capital  stock  of  the Company or in case of the consolidation or merger of the
Company  with another corporation (other than a consolidation or merger in which
the  outstanding shares of the Company's Common Shares are not converted into or
exchanged  for  other rights or interests), or in the case of any sale, transfer
or  other  disposition  to  another  corporation of all or substantially all the
properties  and  assets  of  the  Company,  the  Holder  of  each  Warrant shall
thereafter  be  entitled  to  purchase  (and  it  shall  be  a  condition to the
consummation  of  any  such  reorganization,  reclassification,  consolidation,
merger, sale, transfer or other disposition that appropriate provisions shall be
made  so that such Holder shall thereafter be entitled to purchase) the kind and
amount  of  shares  and other securities and property (including cash) which the
Holder  would  have  been  entitled  to receive had such Warrants been exercised
immediately  prior  to  the  effective  date  of  such  reorganization,
reclassification,  consolidation,  merger,  sale, transfer or other disposition;
and in any such case appropriate adjustments shall be made in the application of
the  provisions  of  this  Article  6  with  respect  to  rights  and

                                      -4-
<PAGE>
interest thereafter of the Holder of the Warrants to the end that the provisions
of  this Article 6 shall thereafter be applicable, as near as reasonably may be,
in  relation  to  any  shares  or other property thereafter purchasable upon the
exercise  of the Warrants. The provisions of this Section 6.1(d) shall similarly
apply to successive reorganizations, reclassifications, consolidations, mergers,
sales,  transfers  or  other  dispositions.

          (e)  Whenever  the  number  of  Warrant  Shares  purchasable  upon the
exercise  of  each  Warrant  is  adjusted,  as provided in this Section 6.1, the
Purchase  Price  with  respect  to  the  Warrant  Shares  shall  be  adjusted by
multiplying  such  Purchase  Price  immediately  prior  to  such adjustment by a
fraction,  of  which  the  numerator  shall  be  the  number  of  Warrant Shares
purchasable  upon  the  exercise  of  each  Warrant  immediately  prior  to such
adjustment,  and  of which the denominator shall be the number of Warrant Shares
so  purchasable  immediately  thereafter.

          6.2  In  the  event  the  Company  shall declare a dividend, or make a
distribution  to  the  holders  of its Common Shares generally, whether in cash,
property  or  assets  of  any  kind,  including any dividend payable in stock or
securities of any other issuer owned by the Company (excluding regularly payable
cash dividends declared from time to time by the Company's Board of Directors or
any  dividend  or  distribution referred to in Section 6.1(a) or (c) above), the
Purchase  Price  of each Warrant shall be reduced, without any further action by
the  parties  hereto,  by  the  Per  Share Value (as hereinafter defined) of the
dividend.  For  purposes  of  this  Section 6.2, the "Per Share Value" of a cash
dividend or other distribution shall be the dollar amount of the distribution on
each  Common  Share  and  the  "Per Share Value" of any dividend or distribution
other  than  cash  shall  be  equal  to  the  fair market value of such non-cash
distribution  on  each  Common Share as determined in good faith by the Board of
Directors  of  the  Company.

          6.3  No  adjustment  in the number of Warrant Shares purchasable under
the Warrants, or in the Purchase Price with respect to the Warrant Shares, shall
be  required  unless such adjustment would require an increase or decrease of at
least  1%  in  the  number  of Warrant Shares issuable upon the exercise of such
Warrant,  or  in  the  Purchase  Price  thereof;  provided,  however,  that  any
adjustments  which  by  reason  of  this Section 6.3 are not required to be made
shall  be  carried  forward and taken into account in any subsequent adjustment.
All  final  results  of  adjustments  to  the  number  of Warrant Shares and the
Purchase Price thereof shall be rounded to the nearest one thousandth of a share
or  the  nearest  cent,  as  the  case may be. Anything in this Section 6 to the
contrary  notwithstanding,  the  Company  shall  be  entitled,  but shall not be
required,  to make such changes in the number of Warrant Shares purchasable upon
the  exercise  of each Warrant, or in the Purchase Price thereof, in addition to
those  required  by  such Section, as it in its discretion shall determine to be
advisable  in  order  that  any  dividend  or  distribution  in  Common  Shares,
subdivision,  reclassification  or  combination  of  Common  Shares, issuance of
rights, warrants or options to purchase Common Shares, or distribution of shares
in  the  capital  of  the  Company  other  than  Common  Shares,  evidences  of
indebtedness  or  assets  (other  than  distributions  of  cash  out of retained
earnings)  or  convertible  or  exchangeable  securities  hereafter  made by the
Company  to  the holders of its Common Shares shall not result in any tax to the
holders  of  its  Common  Shares  or  securities convertible into Common Shares.

          6.4  Whenever  the  number  of  Warrant  Shares  purchasable  upon the
exercise  of  each  Warrant  or  the  Purchase  Price  of such Warrant Shares is
adjusted,  as  herein  provided,  the  Company  shall mail to the Holder, at the
address  of  the  Holder  shown  on  the  books of the Company, a notice of such
adjustment or adjustments, prepared and signed by the Chief Financial Officer or
Secretary  of  the  Company,  which  sets  forth  the  number  of Warrant Shares
purchasable  upon  the  exercise  of each Warrant

                                      -5-
<PAGE>
and  the  Purchase  Price  of such Warrant Shares after such adjustment, a brief
statement  of  the  facts requiring such adjustment and the computation by which
such  adjustment  was  made.

          6.5  In  the  event  that  at  any time prior to the expiration of the
Warrants  and  prior  to  their  exercise:

          (a)  the  Company  shall  declare  any distribution (other than a cash
dividend  or a dividend payable in securities of the Company with respect to the
Common  Shares);  or

          (b)  the Company shall offer for subscription to the holders of Common
Shares  any  additional  shares of any class or any other securities convertible
into  Common  Shares  or  any  rights  to  subscribe  thereto;  or

          (c)  the  Company  shall  declare  any  stock  split,  stock dividend,
subdivision,  combination,  or  similar  distribution with respect to the Common
Shares,  regardless of the effect of any such event on the outstanding number of
shares  of  Common  Shares;  or

          (d)  the  Company  shall  declare  a  dividend,  other than a dividend
payable  in  shares  of  the  Company's  own  Common  Shares;  or

          (e)  there  shall be any capital change in the Company as set forth in
Section  6.1(d);  or

          (f)  there  shall  be  a  voluntary  or  involuntary  dissolution,
liquidation,  or  winding  up  of  the  Company (other than in connection with a
consolidation,  merger,  or  sale  of  all or substantially all of its property,
assets  and  business  as  an  entity);

(each  such  event hereinafter being referred to as a "Notification Event"), the
Company  shall  cause to be mailed to the Holder, not less than twenty (20) days
prior  to  the  record  date, if any, in connection with such Notification Event
(provided,  however,  that  if  there  is no record date, or if twenty (20) days
prior notice is impracticable, as soon as practicable) written notice specifying
the  nature  of  such  event and the effective date of, or the date on which the
books  of  the  Company  shall close or a record shall be taken with respect to,
such  event.  Such  notice  shall  also set forth facts indicating the effect of
such  action (to the extent such effect may be known at the date of such notice)
on  the Purchase Price and the kind and amount of the shares or other securities
or  property deliverable upon exercise of the Warrants.  For purposes here of, a
business  day  shall mean any day other than a Saturday, Sunday or any other day
in  which  commercial  banks are authorized by law to be closed in New York, New
York.

          6.6  The  form  of  Warrant Certificate need not be changed because of
any change in the Purchase Price, the number of Warrant Shares issuable upon the
exercise  of  a  Warrant  or the number of Warrants outstanding pursuant to this
Section 6, and Warrant Certificates issued before or after such change may state
the  same  Purchase  Price,  the same number of Warrants, and the same number of
Warrant  Shares  issuable upon exercise of Warrants as are stated in the Warrant
Certificates  theretofore  issued  pursuant  to this Agreement. The Company may,
however,  at  any  time,  in its sole discretion, make any change in the form of
Warrant  Certificate  that  it may deem appropriate and that does not affect the
substance  thereof,  and  any  Warrant  Certificates  thereafter  issued  or
countersigned,  whether  in  exchange or substitution for an outstanding Warrant
Certificate  or  otherwise,  may  be  in  the  form  as  so  changed.

     7    Voluntary  Adjustment  by  the  Company
          ---------------------------------------

                                      -6-
<PAGE>
          The  Company  may,  at  its option, at any time during the term of the
Warrants,  reduce  the  then  current  Purchase  Price  to  any  amount  deemed
appropriate  by  the Board of Directors of the Company and/or extend the date of
the  expiration  of  the  Warrants.

     8    Fractional  Shares  and  Warrants;  Determination  of Market Price Per
          ----------------------------------------------------------------------
          Share
          -----

          8.1  Anything  contained  herein  to the contrary notwithstanding, the
Company  shall  not  be  required  to  issue  any  fraction of a Common Share in
connection  with the exercise of Warrants. Warrants may not be exercised in such
number  as  would  result  (except  for the provisions of this paragraph) in the
issuance  of  a  fraction  of a Common Share unless the Holder is exercising all
Warrants  then  owned  by the Holder. In such event, the Company shall, upon the
exercise  of  all  of  such  Warrants, issue to the Holder the largest aggregate
whole  number  of  Common Shares called for thereby upon receipt of the Purchase
Price  for  all  of  such  Warrants and pay a sum in cash equal to the remaining
fraction  of  a  Common  Share,  multiplied  by  its  Market Price Per Share (as
determined  pursuant to Section 8.2 below) as of the last business day preceding
the  date  on  which  the  Warrants  are  presented  for  exercise.

          8.2  As  used herein, the "Market Price Per Share" with respect to any
date  shall  mean the average closing price per share of Company's Common Shares
for the five trading days immediately preceding such date. The closing price for
each  such day shall be the last sale price regular way or, in case no such sale
takes place on such day, the average of the closing bid and asked prices regular
way,  in  either  case  on the principal securities exchange on which the Common
Shares  are  listed  or  admitted to trading, the last sale price, or in case no
sale takes place on such day, the average of the closing bid and asked prices of
the  Common Shares on NASDAQ or any comparable system, or if the Common Share is
not  reported  on  NASDAQ or a comparable system, the average of the closing bid
and  asked  prices  as  furnished  by two members of the National Association of
Securities  Dealers,  Inc.  selected  from  time to time by the Company for that
purpose.  If such bid and asked prices are not available, then "Market Price Per
Share"  shall be equal to the fair market value of the Company's Common Stock as
determined  in  good  faith  by  the  Board  of  Directors  of  the  Company.

     9    Governing  Law
          --------------

          This  Warrant  Certificate  shall  be  governed  by  and  construed in
accordance  with  the  laws  of  the  Province  of  Ontario.

          IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to
be  duly  executed  by  its officers thereunto duly authorized and its corporate
seal  to  be  affixed  hereon,  as  of  this          day  of  March,  2002.
                                             --------

                                 DIVERSINET CORP.

                                 By:
                                    ------------------------------------
                                    Name:  Nagy Moustafa

                                      -7-
<PAGE>
                                    Title: President and Chief Executive Officer

                                      -8-
<PAGE>
                                                                       EXHIBIT A

                               NOTICE OF EXERCISE

          The  undersigned  hereby  irrevocably  elects to exercise, pursuant to
Section  2  of  the  Warrant  Certificate  accompanying this Notice of Exercise,
        Warrants  of  the  total  number  of  Warrants owned by the undersigned
-------
pursuant  to the accompanying Warrant Certificate, and herewith makes payment of
the  Purchase  Price  of  such  shares  in  full.

                                       --------------------------------------
                                       Name of Holder

                                       --------------------------------------
                                       Signature

                                       Address:

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

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

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

                                      -9-
<PAGE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00038-of-00352.parquet"}]]