Document:

<PAGE>
                                                                     Exhibit 4.7

THIS WARRANT AND THE SECURITIES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN
EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT AND STATE SECURITIES LAW OR
PURSUANT TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.

                              AMENDED AND RESTATED
                      WARRANT TO PURCHASE PREFERRED SHARES

Corporation:  Kanbay International, Inc., a Delaware corporation
Number of Shares:  25,000
Class of Stock:  Series A-1 Convertible Preferred
Initial Exercise Price:  $6.25 per Preferred Stock
Issue Date:  April 19, 2000 1/
Expiration Date:  April 18, 2007

                                    RECITALS

         A. On April 19, 2000, a Warrant to Purchase Preferred Units was
issued by Kanbay, LLC, a Delaware limited liability company, in favor of
Silicon Valley Bancshares (the "Holder"), for the purchase of 25,000 Series A
Convertible Preferred Units of Kanbay, LLC at the Initial Exercise Price of
$6.25 per Preferred Unit (the "Original Warrant"). Pursuant to paragraph 2.2
of the Original Warrant, Kanbay, LLC was entitled to convert from a limited
liability company to a Delaware corporation (the "Conversion");

         B. On August 24, 2000, pursuant to the Conversion and in accordance
with terms of the Original Warrant, Kanbay International, Inc., a Delaware
corporation and successor to Kanbay, LLC, issued in favor of the Holder, as a
replacement for and in lieu of the Original Warrant, a warrant for the
purchase of 25,000 shares of Series A Convertible Preferred Stock of Kanbay
International, Inc. at the Initial Exercise Price of $6.25 per share (the
"Conversion Warrant") as a replacement for and in lieu of the Original
Warrant;

         C. In connection with transactions contemplated by that certain
Subscription Agreement by and between Kanbay International, Inc. and MSIT
Holdings, Inc., Kanbay International, Inc. amended its Certificate of
Incorporation (the "Amended and Restated Certificate of Incorporation")
effective on August 31, 2000, to provide for, among other things, the
reclassification of shares of its Series A Convertible Preferred Stock (the
"Original Series A Preferred Stock") to shares of Series A-1 Convertible
Preferred Stock (the "New Series A-1 Preferred Stock") (the
"Reclassification"); and

         D. In accordance with the terms of the Conversion Warrant, Kanbay
International, Inc. is issuing as a replacement for and in lieu of the
replacement Warrant this Amended and Restated Warrant in favor of the Holder
for the purchase of 25,000 shares of its New Series A-1 Preferred Stock (the
"Replacement Warrant"), such Replacement Warrant relating back to the
Original issue date of April 19, 2000.

         NOW, THEREFORE, in consideration of Silicon Valley Bank continuing
its loan to Kanbay International, Inc., the parties hereby agree as follows:

1/ In accordance with Section 4.4 hereof and pursuant to that certain
Assignment, dated so as to be effective April 19, 2000 and received by the
Company on April 27, 2004, this Warrant has been assigned by Silicon Valley
Bank to Silicon Valley Bancshares.

<PAGE>

         THIS WARRANT CERTIFIES THAT, for the agreed upon value of $1.00 and
for other good and valuable consideration, SILICON VALLEY BANCSHARES is
entitled to purchase the number of fully paid and nonassessable shares of
Series A-1 Convertible Preferred Stock (the "Preferred Shares") of Kanbay
International, Inc., a Delaware corporation (the "Company"), at the initial
exercise price per Preferred Share (the "Warrant Price"), all as set forth
above and as adjusted pursuant to Article 2 of this Warrant, subject to the
provisions and upon the terms and conditions set forth in this Warrant.

                                    ARTICLE 1

                                    EXERCISE

         1.1 METHOD OF EXERCISE. Holder may exercise this Warrant by
delivering a duly executed Notice of Exercise in substantially the form
attached as Appendix 1 to the principal office of the Company. Unless Holder
is exercising the Conversion right set forth in Section 1.2, Holder shall
also deliver to the Company a check for the aggregate Warrant Price for the
Preferred Shares being purchased. Upon exercise of this Warrant, Holder shall
agree to become a party to the Company's Second Amended and Restated
Stockholders' Agreement (the "Stockholders' Agreement"), and shall execute
such other documents that Company may reasonably require for Holder to become
a stockholder of the Company.

         1.2 CONVERSION RIGHT. In lieu of exercising this Warrant as
specified in Section 1.1, Holder may from time to time convert this Warrant,
in whole or in part, into a number of Preferred Shares determined by dividing
(a) the aggregate fair market value of the Preferred Shares or other
securities otherwise issuable upon exercise of this Warrant minus the
aggregate Warrant Price of such Preferred Shares by (b) the fair market value
of one Preferred Share. The fair market value of the Preferred Shares shall
be determined pursuant to Section 1.3.

         1.3 FAIR MARKET VALUE. If the Preferred Shares are traded in a
public market, the fair market value of the Preferred Shares shall be the
closing price of the Preferred Shares (or the closing price of the Company's
common shares into which the Preferred Shares are convertible) reported for
the business day immediately before Holder delivers its Notice of Exercise to
the Company. If the Preferred Shares are not traded in a public market, the
Board of Directors of the Company shall determine fair market value in their
reasonable good faith judgment. The foregoing notwithstanding, if Holder
advises the Members in writing that Holder disagrees with such determination,
then the Company and Holder shall promptly agree upon a reputable investment
banking firm to undertake such valuation. If the valuation of such investment
banking firm is more than five percent (5%) greater than that determined by
the Board of Directors, then all fees and expenses of such investment banking
firm shall be paid by the Company. In all other circumstances, such fees and
expenses shall be paid by Holder.

         1.4 DELIVERY OF CERTIFICATE AND NEW WARRANT. Promptly after Holder
exercises or converts this Warrant, the Company shall deliver to Holder
certificates for the Preferred Shares acquired and, if this Warrant has not
been fully exercised or converted and has not expired, a new Warrant
representing the Preferred Shares not so acquired.

         1.5 REPLACEMENT OF WARRANTS. On receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and, in the case of loss, theft or destruction, on delivery of
an indemnity agreement reasonably satisfactory in form and amount to the
Company or, in the case of mutilation, on surrender and cancellation of this
Warrant, the Company at its expense shall execute and deliver, in lieu of
this Warrant, a new warrant of like tenor.

         1.6 ASSUMPTION UPON SALE, MERGER, OR CONSOLIDATION OF THE COMPANY.

                  1.6.1. "ACQUISITION".  For the purpose of this Warrant,
"Acquisition"  means any sale,  license, or other disposition of all or
substantially all of the assets of the Company, or any reorganization,
consolidation, or merger of the Company where the holders of the Company's
securities before the transaction beneficially own less than 50% of the
outstanding voting securities of the surviving entity after the transaction.

                                       2

<Page>

                  1.6.2. ASSUMPTION OF WARRANT.  Upon the closing of any
Acquisition  the successor  entity shall assume the obligations of this
Warrant, and this Warrant shall be exercisable for the same securities, cash,
and property as would be payable for the Preferred Shares issuable upon
exercise of the unexercised portion of this Warrant as if such Preferred
Shares were outstanding on the record date for the Acquisition and subsequent
closing. The Warrant Price shall be adjusted accordingly.

         1.7 RIGHTS OF HOLDER. Until such time as Holder exercises this
Warrant and becomes a stockholder of the Company as provided herein, Holder
shall not solely by reason of holding this Warrant be entitled to vote on any
matters for which a stockholder is entitled to vote or be entitled to any
other rights of a stockholder (except for rights specifically set forth in
this Warrant).

                                    ARTICLE 2

                       ADJUSTMENTS TO THE PREFERRED SHARES

         2.1 DISTRIBUTION OF SHARES, SPLITS, ETC. If the Company declares or
makes a distribution on its common shares (or the Preferred Shares) payable
in common shares, or other securities, subdivides the outstanding common
shares into a greater amount of common shares, or subdivides the Preferred
Shares in a transaction that increases the amount of common shares into which
the Preferred Shares are convertible, then upon exercise of this Warrant, for
each Preferred Share acquired, Holder shall receive, without cost to Holder,
the total number and kind of securities to which Holder would have been
entitled had Holder owned the Preferred Shares of record as of the date the
distribution or subdivision occurred.

         2.2 RECLASSIFICATION, EXCHANGE OR SUBSTITUTION. Upon any
reclassification, exchange, substitution, or other event that results in a
change of the type, number and/or class of the securities issuable upon
exercise or conversion of this Warrant, Holder shall be entitled to receive,
upon exercise or conversion of this Warrant, the number and kind of
securities and property that Holder would have received for the Preferred
Shares if this Warrant had been exercised immediately before such
reclassification, exchange, substitution, or other event. Such an event shall
include any automatic conversion of the outstanding or issuable securities of
the Company of the same class or series as the Preferred Shares to common
shares pursuant to the terms of the Company's Amended and Restated
Certificate of Incorporation, as the same may be amended from time to time,
and Stockholder's Agreement upon the closing of a registered public offering
of the Company's common shares. The Company or its successor shall promptly
issue to Holder a new Warrant for such new securities or other property. The
new Warrant shall provide for adjustments which shall be as nearly equivalent
as may be practicable to the adjustments provided for in this Article 2
including, without limitation, adjustments to the Warrant Price and to the
number of securities or property issuable upon exercise of the new Warrant.
The provisions of this Section 2.2 shall similarly apply to successive
reclassifications, exchanges, substitutions, or other events.

         2.3 ADJUSTMENTS FOR COMBINATIONS, ETC. If the outstanding  shares
are combined or consolidated, by reclassification or otherwise, into a lesser
number of shares, the Warrant Price shall be proportionately increased.

         2.4 ADJUSTMENTS FOR DILUTING ISSUANCES. The Warrant Price and the
number of Preferred Shares issuable upon exercise of this Warrant or the
number of common shares issuable upon conversion of the Preferred Shares,
shall be subject to adjustment, from time to time in the manner set forth in
the Company's Amended and Restated Certificate of Incorporation, as the same
may be amended from time to time. The provisions set forth for the Preferred
Shares in the Company's Amended and Restated Certificate of Incorporation, as
the same may be amended from time to time, relating to the above in effect as
of the Issue Date may not be amended, modified or waived without the prior
written consent of Holder unless such amendment, modification or waiver
affects Holder in the same manner as they affect all other shareholders of
the Preferred Shares.

                                       3

<PAGE>

         2.5 NO IMPAIRMENT. The Company shall not, by amendment of its
Certificate of Incorporation or through a reorganization, transfer of assets,
consolidation, merger, dissolution, issue, or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any
of the terms to be observed or performed under this Warrant by the Company,
but shall at all times in good faith assist in carrying out of all the
provisions of this Article 2 and in taking all such action as may be
necessary or appropriate to protect Holder's rights under this Article
against impairment. If the Company takes any action affecting the Preferred
Shares or its common shares other than as described above that adversely
affects Holder's rights under this Warrant, the Warrant Price shall be
adjusted downward and the number of Preferred Shares issuable upon exercise
of this Warrant shall be adjusted upward in such a manner that the aggregate
Warrant Price of this Warrant is unchanged.

         2.6 FRACTIONAL SHARES. No fractional shares shall be issuable upon
exercise or Conversion of the Warrant and the number of shares to be issued
shall be rounded down to the nearest whole Share. If a fractional share
interest arises upon any exercise or Conversion of the Warrant, the Company
shall eliminate such fractional share interest by paying Holder an amount
computed by multiplying the fractional interest by the fair market value of a
full share.

         2.7 CERTIFICATE AS TO ADJUSTMENTS. Upon each adjustment of the
Warrant Price, the Company at its expense shall promptly compute such
adjustment, and furnish Holder with a certificate of its Chief Financial
Officer setting forth such adjustment and the facts upon which such
adjustment is based. The Company shall, upon written request, furnish Holder
a certificate setting forth the Warrant Price in effect upon the date thereof
and the series of adjustments leading to such Warrant Price.

                                    ARTICLE 3

                  REPRESENTATIONS AND COVENANTS OF THE COMPANY

         3.1 REPRESENTATIONS AND WARRANTIES.  The Company hereby represents
and warrants to the Holder as follows:

                  (a) The initial Warrant Price referenced on the first page
of this Warrant is not greater than (i) the price per share at which the
Preferred Shares were last issued in an arms-length transaction in which at
least $500,000 of the Preferred Shares were sold and (ii) the fair market
value of the Preferred Shares as of the date of this Warrant.

                  (b) All Preferred Shares which may be issued upon the
exercise of the purchase right represented by this Warrant, and all
securities, if any, issuable upon conversion of the Preferred Shares, shall,
upon issuance, be duly authorized, validly issued, fully paid and
nonassessable, and free of any liens and encumbrances except for restrictions
on transfer provided for herein or under applicable federal and state
securities laws.

                  (c) The Capitalization Table attached to this Warrant is
true and complete as of September 14, 2000.

         3.2 NOTICE OF CERTAIN EVENTS. If the Company proposes at any time
(a) to declare any distribution upon its common shares, whether in cash,
property, stock, or other securities and whether or not a regular cash
dividend; (b) to offer for subscription pro rata to the holders of any class
or series of its shares any additional shares of any class or series or other
rights; (c) to effect any reclassification or recapitalization of common
shares (d) to merge or consolidate with or into any other entity, or sell,
lease, license, or convey all or substantially all of its assets, or to
liquidate, dissolve or wind up; or (e) offer holders of registration rights
the opportunity to participate in an underwritten public offering of the
company's securities for cash, then, in connection with each such event, the
Company shall give Holder (1) at least 20 days prior written notice of the
date on which a record will be taken for such distribution, or subscription
rights (and specifying the date on which the holders of common shares will be
entitled thereto) or for determining rights to vote, if any, in respect of
the matters referred to in (c) and (d) above; (2) in the case of the matters
referred to in (c) and (d) above at least 20 days' prior written notice of
the date when the same will take place (and specifying the date on which the
holders of shares will be entitled to exchange their shares for securities or
other property deliverable upon

                                       4

<PAGE>

the occurrence of such event); and (3) in the case of the matter referred to
in (e) above, the same notice as is given to the holders of such registration
rights.

         3.3 INFORMATION RIGHTS. So long as the Holder holds this Warrant
and/or any of the Preferred Shares, the Company shall deliver to the Holder
(a) promptly after mailing, copies of all notices or other written
communications to the stockholders of the Company, (b) within ninety (90)
days after the end of each fiscal year of the Company, the annual audited
financial statements of the Company certified by independent public
accountants of recognized standing, and (c) such other financial statements
required under and in accordance with any loan documents between Holder and
the Company (or if there are no such requirements or if the subject loan(s)
no longer are outstanding), then within forty-five (45) days after the end of
each of the first three quarters of each fiscal year, the Company's
quarterly, unaudited financial statements.

         3.4 REGISTRATION UNDER SECURITIES ACT OF 1933, AS AMENDED. The
Company agrees that the Preferred Shares, or if the Preferred Shares are
convertible into common shares of the Company, such common shares shall be
subject to the registration rights set forth on Exhibit A (which Exhibit A is
hereby incorporated herein and made a part of this Warrant).

                                    ARTICLE 4
                                  MISCELLANEOUS

         4.1 TERM. This Warrant is exercisable, in whole or in part, at any
time and from time to time on or before the Expiration Date set forth above.

         4.2 LEGENDS. This Warrant and the Preferred Shares (and the
securities issuable, directly or indirectly, upon conversion of the Preferred
Shares, if any) shall be imprinted with a legend in substantially the
following form:

                  THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES
         ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS AND MAY
         NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE
         REGISTRATION THEREOF UNDER SUCH ACT AND APPLICABLE STATE SECURITIES
         LAWS OR PURSUANT TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY
         SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION
         IS NOT REQUIRED.

         4.3 COMPLIANCE WITH SECURITIES LAWS ON TRANSFER. This Warrant and
the Preferred Shares issuable upon exercise of this Warrant (and the
securities issuable, directly or indirectly, upon conversion of the Preferred
Shares, if any) may not be transferred or assigned in whole or in part
without compliance with applicable federal and state securities laws by the
transferor and the transferee (including, without limitation, the delivery of
investment representation letters and legal opinions reasonably satisfactory
to the Company, as reasonably requested by the Company). The Company shall
not require Holder to provide an opinion of counsel if the transfer is to an
affiliate of Holder or if there is no material question as to the
availability of current information as referenced in Rule 144(c), Holder
represents that it has complied with Rule 144(d) and (e) in reasonable
detail, the selling broker represents that it has complied with Rule 144(f),
and the Company is provided with a copy of Holders notice of proposed sale.

         4.4 TRANSFER PROCEDURE. Subject to the provisions of Section 4.3,
Holder may transfer all or part of this Warrant or the Preferred Shares
issuable upon exercise of this Warrant (or the securities issuable, directly
or indirectly, upon conversion of the Preferred Shares, if any) at any time
to Silicon Valley Bancshares or The Silicon Valley Bank Foundation, or to any
affiliate of Holder, or, to any other transferee, by giving the Company
notice of the portion of the Warrant being transferred, setting forth the
name, address and taxpayer identification number of the transferee, and
surrendering this Warrant to the Company for reissuance to the transferee(s)
(and Holder if applicable). Unless the Company is filing financial
information with the SEC pursuant to the Securities Exchange Act of 1934, the
Company shall have the right to refuse to transfer any portion of this
Warrant to any person who directly competes with the Company.

         4.5 NOTICES. All notices and other communications from the Company
to the Holder, or vice versa, shall be deemed delivered and effective when
given personally or mailed by first-class registered or certified mail at
such address as may have been furnished to the Company or the Holder, as the
case may

                                       5

<Page>

be, in writing by the Company or such holder from time to time. All notices
to be provided under this Warrant shall be sent to the following address:

                           Silicon Valley Bank
                           9701 West Higgins Road, Suite 150
                           Rosemont, IL  60018
                           Attention:  David Dailey, Vice President
                           Fax:  (847)698-0635

                  with a copy to:

                           Silicon Valley Bancshares
                           Attn:  Treasury Department
                           3003 Tasman Drive (HA-200)
                           Santa Clara, CA  95054
                           Fax:  (408)496-2405

         4.6 WAIVER. This Warrant and any term hereof may be changed, waived,
discharged or terminated only by an instrument in writing signed by the party
against which enforcement of such change, waiver, discharge or termination is
sought.

         4.7 ATTORNEYS FEES. In the event of any dispute between the parties
concerning the terms and provisions of this Warrant, the party prevailing in
such dispute shall be entitled to collect from the other party all costs
incurred in such dispute, including reasonable attorneys' fees.

         4.8 GOVERNING LAW. This Warrant shall be governed by and construed
in accordance  with the laws of the State of Illinois, without giving effect
to its principles regarding conflicts of law.

                                   KANBAY INTERNATIONAL, INC.("Company")

                                   By:   Authorized Party
                                      ---------------------------------------
                                   Name: Authorized Party
                                        -------------------------------------
                                        (Print)

                                   Title:______________________________________
                                           Chief Financial Officer or Secretary

                                       6

<PAGE>

                                   APPENDIX 1

                               NOTICE OF EXERCISE

         1. The undersigned hereby elects to purchase shares of the Series A-1
Convertible Preferred Stock (the "Preferred Shares") of Kanbay International,
Inc., a Delaware corporation, pursuant to the terms of the attached Warrant, and
tenders herewith payment of the purchase price of such shares in full.

         1. The undersigned hereby elects to convert the attached Warrant into
Preferred Shares in the manner specified in the Warrant. This conversion is
exercised with respect to _____________________ of the Preferred Shares covered
by the Warrant.

         [Strike paragraph that does not apply.]

         2. Please issue a certificate or certificates  representing  said
Preferred  Shares in the name of the undersigned or in such other name as is
specified below:

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

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

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

         3. The undersigned represents it is acquiring the Preferred Shares
solely for its own account and not as a nominee for any other party and not with
a view toward the resale or distribution thereof except in compliance with
applicable securities laws.

                                                 SILICON VALLEY BANCSHARES

                                                 By:____________________________
                                                    (Signature)

                                                 Name:__________________________

                                                 Title:_________________________

--------------------
         (Date)

                                       1

<PAGE>

                                    EXHIBIT A
                                       TO
                      WARRANT TO PURCHASE PREFERRED SHARES

                               REGISTRATION RIGHTS

         The shares of common stock issuable upon conversion of the Preferred
Shares shall be deemed "registrable securities" or otherwise entitled to "piggy
back" registration rights in accordance with the terms of that certain Amended
and Restated Registration Rights Agreement by and among the Company, MSIT
Holdings, Inc., a Delaware corporation, Safeguard 98 Capital, L.P., a Delaware
limited partnership, Household Investment Funding, Inc., and certain other
holders of the Company's stock, dated as of September 14, 2000 (the
"Registration Rights Agreement") as if Holder was a party thereto and all such
provisions thereof with respect to such registrable securities and registration
rights were for Holder's benefit (which Registration Rights Agreement is hereby
incorporated herein and made a part of this Warrant).

         The Company agrees that no amendments will be made to the Registration
Rights Agreement which would have an adverse impact on Holder's registration
rights thereunder without the consent of Holder.

<PAGE>

                              CAPITALIZATION TABLE<Page>

                                                                     Exhibit 4.9

     THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
     UNDER THE SECURITIES ACT OF 1933 (THE "ACT") OR APPLICABLE STATE SECURITIES
     LAWS. THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A
     VIEW TO DISTRIBUTION OR RESALE. THESE SECURITIES MAY NOT BE OFFERED FOR
     SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED IN
     THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT COVERING SUCH SHARES
     UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR THE
     AVAILABILITY, IN THE OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE ISSUER
     OF THESE SECURITIES, OF AN EXEMPTION FROM REGISTRATION THEREUNDER.

                                     WARRANT
                              NO. AD-2/REPLACEMENT

                   TO PURCHASE WARRANT STOCK AND A NEW WARRANT
                                       OF

                           KANBAY INTERNATIONAL, INC.

     THIS IS TO CERTIFY THAT, as of September 14, 2000, for value received, upon
     and subject to the occurrence of a Dilutive Financing (as defined herein)
     but prior to the Expiration Date (as defined herein), Household Investment
     Funding, Inc., will be entitled to purchase from Kanbay International,
     Inc., a Delaware corporation (the "Company"), at such time and on the terms
     and conditions provided herein, at a purchase price (the "Purchase Price")
     of the Original Shares, a warrant unit (the "Warrant Unit"), such Warrant
     Unit comprising (i) the number of shares of duly authorized, validly
     issued, fully paid and nonassessable Class A Common Stock, par value $0.001
     per share of the Company (the "Common Stock") equal to the Adjusted Share
     Amount (the "Warrant Stock") and (ii) a new Warrant (the "New Warrant") in
     the form of this Warrant (except that the Original Share Price of the New
     Warrant shall be the Dilutive Share Price used in determining the Adjusted
     Share Amount upon exercise of this Warrant) to purchase an additional
     Warrant Unit in the event of a further Dilutive Financing. The "Adjusted
     Share Amount" shall equal the Original Shares multiplied by the Original
     Share Price divided by the Dilutive Share Price (each as defined herein)
     rounded up to the next whole share. This Warrant No. AD-2/Replacement is
     being issued in replacement of Warrant No. AD-2, in order to correct
     defects in the original warrant.

     Certain terms used in this Warrant are defined herein and in Section 4.

1.   EXERCISE OF WARRANTS

<Page>

     1.1. METHOD OF EXERCISE. Upon the occurrence of a Dilutive Financing, the
          Company shall notify in writing (the "Dilutive Financing Notice") the
          holder hereof (the "Holder"), of the number of shares of Warrant Stock
          for which this Warrant is exercisable, together with the Expiration
          Date by which this Warrant must be exercised. To exercise this
          Warrant, the Holder shall deliver to the Company at the Warrant Office
          designated pursuant to Section 3.1 on or prior to the Expiration Date
          the notice of exercise attached hereto as ANNEX I (the "Notice of
          Exercise") filled out and duly executed by the Holder indicating (a)
          the Holder's election to exercise this Warrant and specifying the
          number of Original Shares constituting the Purchase Price, and (b)
          attaching the certificate or certificates representing all of the
          Original Shares. Certificates representing Original Shares surrendered
          for conversion shall be endorsed or accompanied by a written
          instrument or instruments of transfer, in the form attached hereto as
          ANNEX II or in such other form as is satisfactory to the Company, duly
          executed by the Holder or its attorney-in-fact duly authorized in
          writing. Subject to the restrictions provided herein, the Company
          shall as promptly as practicable, and in any event within 14 days
          thereafter, execute and deliver or cause to be executed and delivered,
          in accordance with the Notice of Exercise, certificates in the name of
          the Holder representing (i) the Warrant Stock and (ii) the New
          Warrant. Such certificates representing Warrant Stock and the New
          Warrant shall be deemed to have been issued, and the Holder shall be
          deemed for all purposes to have become a holder of record of such
          Warrant Units, as of the date the Notice of Exercise is actually
          received by the Company with payment as provided above. Upon exercise
          of this Warrant, or upon the Expiration Date, this Warrant shall be
          canceled and shall be of no further force or effect.

     1.2. WARRANT STOCK TO BE FULLY PAID AND NONASSESSABLE; RESERVE. All shares
          of Warrant Stock issued upon the exercise of this Warrant shall be
          validly issued, fully paid and nonassessable. The Company shall not
          consummate any transaction that constitutes a Dilutive Financing
          unless and until it has authorized and unissued Common Stock
          sufficient to fulfill all its obligations hereunder. Furthermore, the
          Company shall not effectuate a Dilutive Financing if that Dilutive
          Financing would cause the Purchase Price of the Warrant Stock to be
          issued hereunder to be less than the aggregate par value of the
          Warrant Stock. The Purchase Price shall be valued in good faith by the
          Board of Directors of the Company.

     1.3. RESTRICTIONS. This Warrant shall not be exercisable by or transferable
          to any person except in connection with the transfer of Original
          Shares. This Warrant shall be subject to that certain Subscription
          Agreement, dated as of September 14, 2000, by and among the Company,
          the Holder and the other parties designated therein (the "Subscription
          Agreement") and the related Stockholders Agreement, as the same may be
          amended from time to time, constituting Exhibit C to the Subscription
          Agreement.

2.   ADJUSTMENTS

     2.1. REORGANIZATION OR RECLASSIFICATION OF WARRANT STOCK. In case of any
          capital reorganization or any reclassification of the capital stock of
          the Company or any merger into any other corporation wherein the
          Company is not the surviving corporation, or any consolidation or sale
          wherein securities of a corporation other than the Company are

                                       -2-
<Page>

          distributable to holders of Common Stock, in each case while this
          Warrant remains outstanding, then, as a condition of such transaction,
          lawful and adequate provision, as determined by the Board of Directors
          of the Company (which may determine, in good faith, that no provision
          is required), shall be made whereby the Holder shall thereafter be
          entitled to purchase, pursuant to this Warrant (in lieu of the Warrant
          Stock component of the Warrant Units which such Holder would have been
          entitled to receive upon exercise of this Warrant immediately prior to
          such transaction), the shares of stock of any class or classes or
          other securities or property to which the number of shares of Warrant
          Stock would have been entitled at the time of such transaction.

3.   WARRANT OFFICE; ADMINISTRATION

     3.1. WARRANT OFFICE. The Company shall maintain an office for the purposes
          specified herein (the "Warrant Office"), which office shall initially
          be the Company's office at 6400 Shafer Court, Suite 100, Rosemont,
          Illinois 60018 and may subsequently be such other office of the
          Company or of any transfer agent of the Common Stock in the
          continental United States as to which written notice has been given to
          the Holder.

     3.2. OWNERSHIP OF WARRANT. The Company may deem and treat the Person in
          whose name this Warrant is registered as the Holder and owner hereof
          (notwithstanding any notations of ownership or writing hereon made by
          anyone other than the Company) for all purposes and shall not be
          affected by any notice to the contrary, until presentation of this
          Warrant for registration of transfer as provided in this Section 3.

     3.3. WARRANT REGISTER. The Company may maintain at the Warrant Office books
          for the registration of Warrants and the registration of transfers of
          Warrants. To effect a transfer of this Warrant upon satisfaction of
          the provisions of Section 1.3 the Holder shall surrender this Warrant
          at the Warrant Office, together with a written assignment of this
          Warrant and the details relating to the transfer thereof duly executed
          by the Holder or the Holder's duly authorized agent or attorney and
          funds sufficient to pay any transfer taxes payable upon the making of
          such transfer. Upon such surrender and payment the Company shall
          execute and deliver a new Warrant or Warrants in the name of the
          assignee or assignees or the Holder and in the denominations specified
          in such instrument of assignment, and this Warrant shall be canceled.

     3.4. LOSS, DESTRUCTION, ETC., OF WARRANTS. Upon receipt of evidence
          satisfactory to the Company of the loss, theft, mutilation or
          destruction of any Warrant, and in the case of any such loss, theft or
          destruction upon delivery of a bond of indemnity in such form and
          amount as shall be reasonably satisfactory to the Company, or in the
          event of such mutilation upon surrender and cancellation of the
          Warrant, the Company will make and deliver a new Warrant, of like
          tenor, in lieu of such lost, stolen, destroyed or mutilated Warrant.
          Any Warrant issued under the provisions of this Section 3.4 in lieu of
          any Warrant alleged to be lost, destroyed or stolen, or in lieu of any
          mutilated Warrant, shall constitute an original contractual obligation
          on the part of the Company.

     3.5. DIVISION OR COMBINATION OF WARRANTS. Upon any division or combination
          of certificates representing the Original Shares, this Warrant may be
          divided or combined with other

                                       -3-
<Page>

          Warrants exercisable upon the same terms and conditions upon
          presentation hereof and of any Warrant or Warrants with which this
          Warrant is to be combined at the Warrant Office, together with a
          written notice specifying the names and denominations in which new
          Warrants are to be issued, signed by the Holder thereof or its
          respective duly authorized agents or attorneys. Subject to compliance
          with Section 1.3 as to any transfer which may be involved in such
          division or combination, the Company shall execute and deliver a new
          Warrant or Warrants in exchange for the Warrant or Warrants to be
          divided or combined in accordance with such notice.

     3.6. EXPENSES OF DELIVERY OF WARRANTS AND WARRANT STOCK. The Company shall
          pay all expenses, taxes (other than transfer taxes) and other charges
          payable in connection with the preparation, issuance and delivery of
          Warrants or the Common Stock which may be issued thereunder.

     3.7. NOTICES. Unless this Warrant is terminated, in the event that at any
          time prior to a Qualified Public Offering:

               1.   the Company shall declare any cash dividend upon its Common
                    Stock, or

               2.   the Company shall declare any dividend upon its Common Stock
          payable in stock or make any special dividend or other distribution to
          the holders of its Common Stock, or

               3.   the Company shall offer for subscription pro rata to the
          holders of its Common Stock any additional shares of stock of any
          class or other rights, or

               4.   there shall be any capital reorganization or
          reclassification of the capital stock of the Company, including any
          subdivision or combination of its outstanding shares of Common Stock,
          or consolidation or merger of the Company with, or sale of all or
          substantially all of its assets to, another corporation, or

               5.   there shall be a voluntary or involuntary dissolution,
          liquidation or winding up of the Company;

          then, in connection with such event, the Company shall give to the
          holder of this Warrant:

                    (i)  at least twenty (20) days' prior written notice of the
               date on which the books of the Company shall close or a record
               shall be taken for such dividend, distribution or subscription
               rights or for determining rights to vote in respect of any such
               reorganization, reclassification, consolidation, merger, sale,
               dissolution, liquidation or winding up; and

                    (ii) in the case of any such reorganization,
               reclassification, consolidation, merger, sale, dissolution,
               liquidation or winding up, at least twenty (20) days' prior
               written notice of the date when the same shall take place. Such
               notice in accordance with the foregoing clause (i) shall also
               specify, in the case of

                                       -4-
<Page>

               any such dividend, distribution or subscription rights, the date
               on which the holders of Common Stock shall be entitled thereto,
               and such notice in accordance with the foregoing clause (ii)
               shall also specify the date on which the holders of Common Stock
               shall be entitled to exchange their Common Stock for securities
               or other property deliverable upon such reorganization,
               reclassification consolidation, merger, sale, dissolution,
               liquidation or winding up, as the case may be. Each such written
               notice shall be given in accordance with Section 6.5 hereof.

4.   ADJUSTMENTS

     The terms and conditions of Sections 4.2(d)(iv), 4.2(d)(v) and 4.2(d)(vi)
     of the Certificate of Incorporation (the "Anti-Dilutive Provisions") are
     hereby incorporated herein by this reference. Upon the occurrence of any
     event that would cause an adjustment to the Conversion Price under the
     Certificate of Incorporation (assuming for purposes of this Section 4 that
     the Conversion Price is equal to the then-current Dilutive Share Price),
     the Dilutive Share Price shall be adjusted as provided in the Anti-Dilution
     Provisions provided that the term "Conversion Price" in the Anti-Dilutive
     Provisions shall be substituted, mutatis mutandis, with the term "Dilutive
     Share Price". In case the Company shall at any time subdivide its
     outstanding shares of Common Stock into a greater number of shares of
     Common Stock, the Original Share Price in effect immediately prior to such
     subdivision shall be proportionately reduced, and, conversely, in case the
     outstanding shares of Common Stock shall be combined into a smaller number
     of shares of Common Stock, the Original Share Price in effect immediately
     prior to such combination shall be proportionately increased.

5.   CERTAIN DEFINITIONS

     Capitalized terms defined herein shall have the meanings ascribed to them.
     In addition, the following terms shall have the following respective
     meanings:

          "Act" shall mean the Securities Act of 1933, or any successor federal
          statute, and the rules and regulations of the Securities and Exchange
          Commission promulgated thereunder, all as the same shall be in effect
          at the time.

          "Certificate of Incorporation" shall mean the Amended and Restated
          Certificate of Incorporation of the Company, as amended or restated
          from time to time.

          "Dilutive Financing" shall mean the consummation of an equity
          investment in the Company in a private transaction without
          registration or a registered public offering (other than a Qualified
          Public Offering) under the Act in which the Company issues or sells,
          or is, in accordance with Section 4.2(d)(iv)(A) through 4.2(d)(iv)(G)
          of the Certificate of Incorporation, deemed to have issued or sold,
          any Common Stock for a consideration per share less than the Dilutive
          Share Price in effect immediately prior to the time of such issue or
          sale, other than as provided in Section 4.2(d)(iv)(C) or Section
          4.2(d)(v) of the Certificate of Incorporation.

          "Dilutive Financing Notice" shall have the meaning set forth in
          Section 1.1.

                                       -5-
<Page>

          "Dilutive Share Price" shall mean $14.23, as adjusted pursuant to
          Section 4 hereof.

          "Expiration Date" shall mean the earlier of (i) the consummation of a
          Qualified Public Offering or (ii) a date set by the Company which is
          no sooner than 20 business days following the date of the Dilutive
          Financing Notice delivered to the Holder pursuant to Section 1.1.

          "Notice of Exercise" shall have the meaning set forth in Section 1.1.

          "Original Share Price" shall mean $14.23, as adjusted pursuant to
          Section 4 hereof.

          "Original Shares" shall mean the number of shares of Common Stock held
          by Holder that were purchased pursuant to the Subscription Agreement
          or issued in respect of (such as in the event of a split), in exchange
          for, or as a dividend relating to, such shares.

          "Person" shall mean any individual, corporation, partnership, trust,
          unincorporated organization and any government, and any political
          subdivision, instrumentality or agency thereof.

          "Qualified Public Offering" shall have the meaning given such term in
          the Certificate of Incorporation.

          "Warrants" shall mean the warrants (of which this Warrant is one)
          originally issued by the Company evidencing the right initially to
          purchase Warrant Units of the Company, dated as of the date hereof,
          and all warrants issued in substitution, combination, subdivision or
          exercise of any thereof.

6.   MISCELLANEOUS

     6.1. ENTIRE AGREEMENT. This Warrant contains the entire agreement between
          the Holder and the Company with respect to the subject matter hereof
          and supersedes all prior arrangements or understanding with respect
          thereto.

     6.2. GOVERNING LAW. This Warrant shall be governed by and construed in
          accordance with the internal substantive laws of the State of
          Delaware.

     6.3. WAIVER AND AMENDMENT. Any term or provision of this Warrant may be
          waived at any time by the party which is entitled to the benefits
          thereof and any term or provision of this Warrant may be amended or
          supplemented at any time by agreement of the Holder and the Company,
          except that any waiver of any term or condition, or any amendment or
          supplementation, of this Warrant must be in writing. A waiver of any
          breach or failure to enforce any of the terms or conditions of this
          Warrant shall not in any way affect, limit or waive a party's rights
          hereunder at any time to enforce strict compliance thereafter with
          every term or condition of this Warrant.

     6.4. ILLEGALITY. In the event that any one or more of the provisions
          contained in this Warrant shall be determined to be invalid, illegal
          or unenforceable in any respect for any reason, the validity, legality
          and enforceability of any such provision in any other respect and the

                                       -6-
<Page>

          remaining provisions of this Warrant shall not, at the election of the
          party for whom the benefit of the provision exists, be in any way
          impaired.

     6.5. NOTICE. Any notice or other document required or permitted to be given
          or delivered to the Holder shall be delivered at, sent by certified or
          registered mail to, or sent by an overnight courier to, the Holder at
          the last address shown on the books of the Company maintained at the
          Warrant Office for the registration of and the registration of
          transfer of the Warrants (the "Warrant Records") or at any more recent
          address of which any Holder shall have notified the Company in
          writing. Any notice or other document required or permitted to be
          given or delivered to holders of record of outstanding Warrant Units
          shall be delivered at, sent by certified or registered mail to, or
          sent by overnight courier to, each such holder at such holder's
          address as the same appears on the stock records of the Company. Any
          notice or other document required or permitted to be given or
          delivered to the Company shall be delivered at, or sent by certified
          or registered mail to, the Warrant Office or such other address within
          the United States of America as shall have been furnished by the
          Company to the Holder or the holder of record of the Warrant Unit. For
          purposes hereof, delivery by facsimile or other electronic means to a
          facsimile telephone number or other electronic address provided by the
          Holder and shown on the Warrant Records, shall constitute delivery of
          notice.

     6.6. RIGHTS AS SHAREHOLDER. No provision of this Warrant shall be construed
          as conferring upon the Holder the right to vote, consent, receive
          dividends or other than as herein expressly provided receive notice in
          respect of meetings of stockholders or any other matter whatsoever as
          a stockholder of the Company. No provision hereof, in the absence of
          affirmative action by the Holder to purchase a Warrant Unit, and no
          mere enumeration herein of the rights or privileges of the Holder,
          shall give rise to any liability of such Holder for the Purchase Price
          of any Warrant Units or as a stockholder of the Company, whether such
          liability is asserted by the Company or by creditors of the Company.

                          [SIGNATURE ON FOLLOWING PAGE]

                                       -7-
<Page>

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed in its
name by its duly authorized officer.

Dated: as of April 15, 2004
             --------------

                                                 KANBAY INTERNATIONAL, INC.

                                                 By: /s/ Authorized Party
                                                    -----------------------
                                                 Name: Authorized Party
                                                      ---------------------
                                                 Title: VP & CFO
                                                       --------------------

                                       -8-
<Page>

                                                                         ANNEX I

                           KANBAY INTERNATIONAL, INC.
                               NOTICE OF EXERCISE

     The undersigned, the holder of the foregoing warrant (the "Warrant"),
hereby (i) represents to the Company (as such term is defined in the Warrant)
that the Warrant may presently be exercised; (ii) irrevocably elects to exercise
the Warrant for, and to purchase thereunder, the Warrant Unit; and (iii)
herewith makes payment in full therefor consisting of [_______] Original Shares,
and herewith delivers to the Company the certificates representing such Original
Shares, duly endorsed, assigned pursuant to the Assignment Separate from
Certificate attached to the Warrant as ANNEX II, or accompanied by a separate
instrument or instruments of transfer acceptable to the Company; and (iv)
requests (a) that certificates for the Warrant Stock and the New Warrant be
issued in the name of and delivered to:

          Name:
                          -----------------------------
          Address:
                          -----------------------------

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

                          -----------------------------
          Tax ID Number:
                          -----------------------------

                                 [Investor Name]

                   Signature:
                              -------------------------------
                                (Duly authorized signature)

           Title or Capacity:
                              -------------------------------
                                (Print title or capacity if Holder is not an
                              individual)

Dated:
      -------------

<Page>

                                                                        ANNEX II

                      ASSIGNMENT SEPARATE FROM CERTIFICATE

     FOR VALUE RECEIVED, I, _______________________________, hereby assign and
transfer unto Kanbay International, Inc. the aggregate amount
of _______________________________________ (___________________) shares of the
Class A Common Stock, $0.001 par value per share of Kanbay International, Inc.
(the "Company"), standing in my name on the books and records of said Company
represented by Certificates numbered _____________ and __________ herewith and
do hereby irrevocably constitute and appoint the Secretary of the Company the
undersigned's attorney to transfer the said stock on the books of the Company
with full power of substitution in the premises.

Dated:
        ----------------------------

                                              [Name of Holder]

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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}]]