Document:

EXHIBIT 10.13

                               VINCENT L. SADUSKY
                              EMPLOYMENT AGREEMENT

<PAGE>

                              EMPLOYMENT AGREEMENT

          THIS EMPLOYMENT AGREEMENT (this "Agreement"), is entered into by and
between Telemundo Holdings, Inc., a Delaware corporation (the "Company"), and
Vincent L. Sadusky (the "Executive"), dated as of January 1, 2000.

          WHEREAS, Telemundo Network, Inc. and Executive entered into that
certain Employment Agreement dated as of September 10, 1997 (the "Original
Agreement"); and

          WHEREAS, the Company and Executive desire to enter into a new
employment agreement on the terms and conditions set forth herein.

          NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:

          1. EMPLOYMENT AND TERM. The Company hereby agrees to employ Executive,
and Executive hereby agrees to enter into such employment, as Vice President,
Finance of the Company reporting to the Chief Financial Officer and Treasurer of
the Company for the period commencing on January 1, 2000 and ending on December
31, 2000 (the "Employment Period"). The Executive also agrees, during the
Employment Period, to serve (without additional compensation) on the Board of
Directors (and appropriate committees thereof) of the Company, if requested by
the Company.

          2. TERMS OF EMPLOYMENT. (a) During the Employment Period, Executive
agrees, subject to the provisions of Section 9(d)(ii) of this Agreement, to
devote all but a DE MINIMUS amount of his business time and attention to the
business and affairs of the "Telemundo Group" (as defined below) and to use his
best efforts to perform faithfully and efficiently such responsibilities. For
purposes of this Agreement, the term "Telemundo Group" shall mean any and all of
the Company and any of its current or future divisions or subsidiaries.

               (b) The principal place of employment of Executive shall be
Hialeah, Florida. Executive understands and agrees that in connection with his
employment hereunder, he may be required to travel extensively on behalf of the
Telemundo Group.

          3. BASE SALARY. During the Employment Period Executive shall receive a
base salary (the "Base Salary") as follows. For the period of the Employment
Period beginning on January 1, 2000 and ending on February 7, 2000, the Base
Salary shall be payable to Executive at an annual rate of $150,000. For the
period of the Employment Period beginning on February 8, 2000 and ending on
December 31, 2000, the Base Salary shall be payable to Executive at an annual
rate to be mutually agreed upon by Executive and the Company after negotiating
in good faith, but in no event shall the Base Salary be increased by an amount
equivalent to less than ten percent of the then current Base Salary. The Base
Salary shall be payable consistent with the executive payroll practices of the
Company. Executive acknowledges and agrees that he has been paid in full his
Base Salary for periods prior to the effective date of this Agreement.

<PAGE>

                  4. BONUS. (a) For the 1999 fiscal year, the parties
acknowledge and agree that the Company shall pay Executive a performance bonus
("Performance Bonus") equal to 20% of Executive's then current Base Salary for
such fiscal year (or a total of $30,000) and a budget bonus ("Budget Bonus")
equal to 20% of Executive's then current Base Salary for such fiscal year (or a
total of $30,000), regardless of the Company's earnings before interest, taxes,
depreciation and amortization ("EBITDA") for the 1999 fiscal year. The
Performance Bonus and the Budget Bonus are hereinafter collectively referred to
as the "Bonus". Such Bonus shall be payable on January 31, 2000.

               (b) For the 2000 fiscal year, the Company shall pay Executive a
Performance Bonus equal to 20% of Executive's then current Base Salary for such
fiscal year and a Budget Bonus equal to 20% of Executive's then current Base
Salary for such fiscal year, regardless of the Company's EBITDA for the 2000
fiscal year. Such Bonus shall be payable on January 31, 2001.

          5. EMPLOYEE BENEFIT PLANS; ETC. (a) Executive shall be entitled during
the Employment Period to participate in all retirement, disability, pension,
savings, medical, insurance and other plans of the Company generally available
to all senior executives (other than any performance based bonus plans).
Executive shall be entitled to paid vacations during each year of his employment
consistent with the Company's vacation policy for executive level employees
(which shall provide for at least 20 vacation days per year).

               (b) The Company agrees that it will provide Executive, in his
capacity as an officer and, if applicable, as a director, with indemnification
rights which are not materially less favorable to the Executive, in his capacity
as an officer and as a director, than those provided as of the date of this
Agreement in the By-laws of the Company.

          6. [Intentionally omitted]

          7. [Intentionally omitted]

          8. EXPENSES. The Company shall reimburse Executive for all reasonable
expenses properly incurred by him in accordance with the policies of the
Telemundo Group in effect from time to time on behalf of the Telemundo Group in
the performance of his duties hereunder, provided that proper vouchers are
submitted to the Company by Executive evidencing such expenses and the purposes
for which the same were incurred.

          9. TERMINATION. The Company shall have the right to terminate
Executive's employment only as expressly provided in this Agreement.

               (a) DEATH OR DISABILITY. Except as otherwise provided herein,
this Agreement shall terminate automatically upon Executive's death.

               The Company may terminate this Agreement after having established
Executive's "Disability" (as defined below), by giving Executive written notice
of its intention to terminate Executive's employment. For purposes of this
Agreement, "Disability" means Executive's inability to perform substantially all
his duties and responsibilities to the Telemundo Group by reason of a physical
or mental disability or infirmity (i) for a continuous period of twelve
consecutive months or (ii) at such earlier time as Executive submits medical
evidence satisfactory to

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<PAGE>

the Company or the Board of Directors determines in good faith and upon
competent medical advice that Executive has a physical or mental disability or
infirmity that will likely prevent Executive from substantially performing his
duties and responsibilities for twelve consecutive months or longer. The date of
Disability shall be the day on which Executive receives notice from the Company
pursuant to this Section 9.

               Upon termination of Executive's employment because of death or
Disability, the Company shall pay Executive or his estate or other personal
representative (i) within 60 days, the amount of Executive's Base Salary earned
up to the date of death or Disability, (ii) all benefits and other items
referred to in Sections 5 and 8 which are due up to the date of death or
Disability and (iii) when otherwise due in accordance with the provisions of
Section 4, the Bonus, if any, earned for the year in which such termination
occurred, without regard to whether Executive is an employee of the Company on
the last day of such fiscal year.

               (b) CAUSE AND RESIGNATION WITHOUT GOOD REASON. The Company shall
have the right to terminate Executive's employment for "Cause" (as defined
below). Except as provided in Section 15 herein, (i) upon termination of
Executive's employment for Cause or (ii) upon Executive's resigning as an
employee without "Good Reason" (as defined below), this Agreement shall
terminate and the Executive shall not be entitled to receive any compensation or
other benefits other than (x) Base Salary earned up to the date of termination
and (y) all benefits and other items referred to in Sections 5 and 8 which are
due up to the date of termination or resignation.

               For purposes of this Agreement, "Cause" shall mean (i) the
willful and continued failure by Executive to perform substantially all his
duties to the Company or the failure by the Executive to comply with the
reasonable written policies, procedures and directives of the President and
Chief Executive Officer (other than any such failure resulting from his death or
Disability), in each case after being given written notice by the President and
Chief Executive Officer of a failure to perform or comply (which notice
specifically identifies the manner in which Executive has failed to perform or
comply) and a reasonable opportunity to cure such noncompliance or
nonperformance; (ii) the willful misconduct by Executive in the performance of
his duties to the Company, provided that (for purposes of this clause (ii) only
and not for any other purpose or interpretation of this Agreement) an act shall
be considered "willful" only if done in bad faith and not in the best interests
of the Company; (iii) the grossly negligent performance by Executive of his
duties to the Company; (iv) the conviction of Executive by a court of competent
jurisdiction of the commission of (x) a felony or (y) a crime involving moral
turpitude; or (v) a material breach by Executive of Sections 10 or 11 hereof.

               Notwithstanding the foregoing, the Company shall not be entitled
to terminate Executive for any of the reasons specified in clause (i), (ii),
(iii) or (v) of the immediately preceding paragraph unless the Company shall
have provided at least five business days' prior written notice to Executive,
which prior written notice shall state the general facts, circumstances or
deficiencies supporting a claim for Cause termination and after affording
Executive an opportunity to be heard before the President and Chief Executive
Officer.

               (c) TERMINATION WITHOUT CAUSE BY COMPANY; RESIGNATION WITHOUT
GOOD REASON EFFECTIVE DECEMBER 31, 2000 BY EXECUTIVE. Notwithstanding anything
to the contrary contained herein, the Company shall have the right to terminate
the employment of Executive at any time without Cause. Upon a termination
without Cause, except as provided in Section 15, this Agreement shall terminate
and the Executive shall not be entitled to receive any compensation or

                                      -3-
<PAGE>

other benefits, except that the Company shall (i) through June 30, 2001 continue
to pay to Executive the Base Salary in effect immediately prior to the date of
termination, such payments to be made in installments at the times such amounts
would have been paid if the Agreement had not been so terminated, and (ii) pay
to the Executive, when otherwise due in accordance with Section 4, the Bonus, if
any, earned for the fiscal year in which such termination occurs, without regard
to whether Executive is employed on the last day of such fiscal year, and (iii)
through June 30, 2001 continue Executive's benefits and other items referred to
in Section 5 or, to the extent the Company is legally unable to provide any such
benefits or other items as a result of Executive no longer being an employee,
reimburse Executive for his cost (not to exceed the actual cost to the Company
if he were still an employee) of obtaining the equivalent coverage and benefits.

               Notwithstanding anything to the contrary contained herein,
Executive shall have the right to resign as an employee without Good Reason
effective December 31, 2000 upon at least 30 days prior written notice to the
Company. Upon such resignation, except as provided in Section 15, this Agreement
shall terminate and the Executive shall not be entitled to receive any
compensation or other benefits, except that the Company shall (i) through June
30, 2001 continue to pay to Executive the Base Salary in effect immediately
prior to the date of termination, such payments to be made in installments at
the times such amounts would have been paid if the Agreement had not been so
terminated, and (ii) pay to the Executive, when otherwise due in accordance with
Section 4, the Bonus for the 2000 fiscal year and (iii) through June 30, 2001
continue Executive's benefits and other items referred to in Section 5 or, to
the extent the Company is legally unable to provide any such benefits or other
items as a result of Executive no longer being an employee, reimburse Executive
for his cost (not to exceed the actual cost to the Company if he were still an
employee) of obtaining the equivalent coverage and benefits.

               (d) TERMINATION FOR GOOD REASON.

                   (i) Executive shall have the right to terminate his
employment under this Agreement upon the occurrence of any event that
constitutes Good Reason by giving written notice to the Company. "Good Reason"
means any of the following: (A) a "Diminution in Duty" (as defined below), (B) a
"Designated Relocation" (as defined below) or (C) any "Other Good Reason Event"
(as defined below); PROVIDED, HOWEVER, that Good Reason shall not be deemed to
have occurred prior to the giving of written notice by the Executive to the
Company generally describing both the alleged Good Reason and the actions the
Executive believes are necessary to cure such alleged Good Reason, and the
Company's failure to so cure within 15 days of receipt of such notice. The
giving of such notice and the action or failure to take action by the Company
shall be irrelevant in determining whether a Good Reason has in fact occurred.
Upon a termination for Good Reason, except as provided in Section 15, this
Agreement shall terminate and the Executive shall not be entitled to receive any
compensation or other benefits other than the Company shall (i) through June 30,
2001 continue to pay to Executive the Base Salary in effect immediately prior to
the date of termination, such payments to be made in installments at the times
such amounts would have been paid if the Agreement had not been so terminated,
(ii) pay to the Executive, when otherwise due in accordance with Section 4, the
Bonus, if any, earned for the fiscal year in which such termination occurs,
without regard to whether Executive is employed on the last day of such fiscal
year and (iii) through June 30, 2001 continue Executive's benefits and other
items referred to in Section 5 or, to the extent the Company is legally unable
to provide any such benefits or other items as a result of Executive no longer
being an employee, reimburse Executive for his cost (not to exceed the actual
cost to the Company if he were still an employee) of obtaining the equivalent
coverage and benefits.

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                   (ii) A "Diminution in Duty" means that, without Executive's
express prior written consent, that Executive is required to report to anyone
other than the Chief Financial Officer and Treasurer of the Company or the
President of the Company. Effective upon the parties' execution and delivery of
this Agreement, Executive hereby waives any right, power or remedy, if any,
accruing to Executive resulting from any "Diminution in Duty" under the terms of
the Original Agreement prior to the date of this Agreement.

                   (iii) "Designated Relocation" means the Company requiring
Executive's work location to be other than within thirty (30) miles of the
Company's current corporate offices in Hialeah, Florida.

                   (iv) "Other Good Reason Event" means any of the following:
(A) a material breach of this Agreement by the Company (which shall include,
without limitation, any reduction in the amount of any compensation or benefits
provided to Executive under this Agreement), or (B) any termination or attempted
termination by the Company of Executive's employment other than as expressly
permitted in this Agreement.

               (e) OFFICER AND BOARD POSITIONS. Upon the termination of
employment with the Company for any reason, Executive shall be deemed to have
resigned any and all of his positions as an officer and a member of the Board of
Directors of the Company and any of its subsidiaries and as a member of any
committees of such Board, effective on the date of termination.

               (f) CERTAIN CONDITION. Notwithstanding anything to the contrary
contained in this Section 9, the obligations of the Company under this Section 9
shall continue only so long as the Executive does not breach his obligations
under Section 10 and 11.

               (g) CERTAIN EFFECT. As used in this Agreement, termination of
this Agreement shall also result in and mean termination of the Employment
Period hereunder.

               (h) MITIGATION OF DAMAGES. Executive shall have no duty to
mitigate any of his damages in the event of any breach of or default or failure
in performance under this Agreement by the Company.

               (i) STOCK OPTIONS. The references in Section 9(a), 9(b), 9(c) or
9(d) to Executive, other than as therein stated, not being entitled to receive
compensation or benefits upon termination of his employment under any of such
Sections shall not affect Executive's rights under any stock option or similar
award agreements between Executive and the Company.

          10. CONFIDENTIALITY, ETC. During the Employment Period and at all
times thereafter, Executive agrees and covenants that he will not divulge,
furnish or make accessible to anyone (otherwise than in the regular course of
business of the Telemundo Group) any confidential information, plans or
materials or trade secrets of the Telemundo Group or with respect to any aspect
of the business of the Telemundo Group; PROVIDED, HOWEVER, that during his
employment, Executive shall have the latitude customarily given a vice president
of finance to disclose information in good faith for the benefit of the Company
and its stockholders (taken as a whole). All memoranda, notes, lists, records
and other documents or papers (and all copies thereof), including such items
stored in computer memories, on microfiche or by any other means, made or
compiled by or on behalf of Executive, or made available to him relating to the
Telemundo Group are and shall be the Company's property and shall be delivered
to the Company promptly upon the termination of his

                                      -5-
<PAGE>

employment with the Company; PROVIDED, HOWEVER, that (i) this obligation shall
not apply to information that (A) is not confidential (other than as a result of
Executive's breach of this Section) and (B) does not contain certain trade
secrets of the Company, (ii) Executive shall have the right to retain such of
the foregoing as shall be reasonably necessary to enforce his rights under this
Agreement and to comply with and enforce his rights, including the right to
defend himself against claims, provided copies of such retained information are
provided to the Company and the retained information remain subject to the
provision of this Section, and (iii) Executive shall have no obligation to
return information that is no longer in his possession, custody or control.

          11. NO INTERFERENCE; AFFILIATE TRANSACTIONS. (a) During the Employment
Period and for one (1) year thereafter, Executive agrees and covenants that he
will not, directly or indirectly, for himself, or as agent of or on behalf of,
or in conjunction with, any person, firm, corporation, or other entity, engage
or participate in the "Company Business" (as hereinafter defined), whether as
employee, consultant, partner, principal, shareholder or representative, or
render advisory or other services to or for any person, firm, corporation or
other entity, which is engaged, directly or indirectly, in the Company Business;
PROVIDED, HOWEVER, that (i) Executive may own less than 5% of the common stock
of a publicly traded company that is engaged in the Company Business and (ii)
Executive may own Common Stock and securities convertible into Common Stock (or
securities into which Common Stock is converted in any business combination
transaction). For purposes of this Section 11(a), "Company Business" shall mean
and be limited to any of (x) the provision of Spanish language television
programming in the United States (which includes Puerto Rico), (y) the ownership
of television broadcast stations, networks or any over-the-air television
signal, and cable in the United States (which includes Puerto Rico) that
broadcast primarily Spanish language programming, and (z) the sale of television
advertising time and programs inside and outside the United States (which
includes Puerto Rico) for Spanish language television stations, cable and
networks.

               (b) During the Employment Period and for one (1) year thereafter,
Executive agrees and covenants that he will not interfere directly or indirectly
in any way with the Company. "Interfere" means to influence or attempt to
influence, directly or indirectly, present or active prospective customers,
employees, suppliers, performers, directors, representatives, agents or
independent contractors of the Company, or any of its network affiliates to
restrict, reduce, sever or otherwise alter their relationship with the Telemundo
Group or any of its network affiliates.

               (c) Executive agrees that during the Employment Period, he will
not at any time enter into, on behalf of the Telemundo Group, or cause the
Telemundo Group to enter into, directly or indirectly, any transactions (each, a
"Transaction") with any business organization in which he or, to his knowledge
after due inquiry, any member of his family may be interested as a partner,
trustee, director, officer, employee, shareholder, lender of money or guarantor,
except to the extent disclosed to the Company and agreed to by the board of
directors of the Company in writing. Executive will use his best efforts to
ensure that any Transaction is disclosed to the Board of Directors of the
Company and approved thereby prior to entering into a contract relating thereto
and/or consummation thereof, as contemplated by the preceding sentence.

               (d) During the Employment Period and at all times thereafter,
Executive agrees and covenants that he will not disparage the Company, its
officers, directors, employees or business, nor shall the Company or any of its
officers, directors, employees or agents disparage the Executive or members of
his family, and neither party shall disclose any facts relating to such
termination; PROVIDED, HOWEVER, that nothing contained in this Section 11(d)
shall restrict the parties

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<PAGE>

from making any statements or disclosure believed necessary to enforce in any
judicial or similar proceeding the provisions of this Agreement or as a party
believes may be required by applicable law.

               (e) In the event any court having jurisdiction determines that
any part of this Section 11 is unenforceable, such court shall have the power to
reduce the duration or scope of such provision and such provision, in its
reduced form, shall be enforceable. This Section 11 shall survive the expiration
or termination of this Agreement and the Employment Period; PROVIDED, HOWEVER,
that if Executive's employment is terminated pursuant to Section 9(c) or Section
9(d), then this Section 11 will terminate on June 30, 2001.

          12. INJUNCTIVE RELIEF. Executive acknowledges that the provisions of
Sections 10 and 11 herein are reasonable and necessary for the protection of the
Telemundo Group and that the Telemundo Group will be irrevocably damaged if such
provisions are not specifically enforced. Accordingly, Executive agrees that, in
addition to any other relief to which the Company may be entitled in the form of
damages, the Company shall be entitled to seek and obtain injunctive relief from
a court of competent jurisdiction (without the posting of a bond therefor) for
the purposes of restraining Executive from any actual or threatened breach of
such provisions.

          13. REMEDIES; SERVICE OF PROCESS.

               (a) Except when a party is seeking an injunction or specific
performance hereunder, the parties agree to submit any dispute concerning this
Agreement to binding arbitration. The parties may agree to submit the matter to
a single arbitrator or to several arbitrators, may require that arbitrators
possess special qualifications or expertise or may agree to submit a matter to a
mutually acceptable firm of experts for decision. In the event the parties shall
fail to thus agree upon terms of arbitration within twenty (20) days from the
first written demand for arbitration, then such disputed matter shall be settled
by arbitration under the Rules of Employment Arbitration of the American
Arbitration Association, by three arbitrators appointed in accordance with such
Rules. Such arbitration shall be held in Miami, Florida. Once a matter has been
submitted to arbitration pursuant to this Section, the decision of the
arbitrators shall be final and binding upon all parties. The cost of arbitration
shall be shared equally by the parties and each party shall pay the expenses of
his/its attorneys, except that the arbitrators shall be entitled to award the
costs of arbitration, attorneys and accountants' fees, as well as costs, to the
party that they determine to be the prevailing party in any such arbitration.

               (b) The Company and Executive hereby irrevocably consent to the
jurisdiction of the Courts of the State of Florida and of any Federal Court
located in such State in connection with any action or proceedings arising out
of or relating to the provisions of Sections 10 and 11 of this Agreement.
Executive further agrees that he will not commence or move to transfer any
action or proceeding arising out or relating to the provisions of Sections 10
and 11 of this Agreement to any Court other than one located in the State of
Florida. In any such litigation, Executive waives personal service of any
summons, complaint or other process and agrees that the service thereof may be
made by certified mail directed to Executive at his address for purposes of
notice under Section 17(b) hereof.

          14. SUCCESSORS. This Agreement and the rights and obligations
hereunder are personal to Executive and without the prior written consent of the
Company and Executive shall not be assignable.

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<PAGE>

          15. SURVIVAL OF PROVISIONS. Notwithstanding anything to the contrary
contained herein, the provisions of Sections 5(b), 9, 10, 11, 12, 13, 14, 15 and
17 hereof shall survive the termination or expiration of this Agreement,
irrespective of the reasons therefor.

          16. [Intentionally omitted]

          17. MISCELLANEOUS. (a) This Agreement shall be governed by and
construed in accordance with the laws of the State of Florida, without reference
to principles of conflict of laws.

               (b) All notices and other communications hereunder shall be in
writing and shall be deemed to have been duly given if delivered, telecopied or
mailed, certified or registered mail, return receipt requested:

                           If to Executive:

                                    Vincent L. Sadusky
                                    1350 S.W. 12th Terrace
                                    Boca Raton, Florida 33486

                           If to the Company:

                                    Telemundo Holdings, Inc.
                                    West 8th Avenue
                                    Hialeah, Florida 33010
                                    Attention:  Chief Financial Officer
                                    Phone:  (305) 889-7999
                                    Telecopy No.:  (305) 889-7997

                           With a copy to:

                                    Telemundo Holdings, Inc.
                                    West 8th Avenue
                                    Hialeah, Florida  33010
                                    Attention:  General Counsel
                                    Phone: (305) 889-7987
                                    Telecopy No.:  (305) 889-7980

or to such other address as either party shall have furnished to the other in
writing in accordance herewith. Notices and communications shall be effective
when actually received by the addressee or upon refusal if properly delivered.

               (c) The Company may withhold from any amounts payable under this
Agreement such Federal, state or local taxes as shall be required to be withheld
pursuant to any applicable law or regulation.

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<PAGE>

               (d) Executive represents and warrants that he is not a party to
any agreement, contract or understanding, whether employment or otherwise, which
would in any way restrict or prohibit him from undertaking or performing
employment in accordance with the terms and conditions of this Agreement.

               (e) The parties agree that the Original Agreement is superseded
by this Agreement and terminated upon the parties' execution and delivery of
this Agreement and, therefore, the Original Agreement is of no further force or
effect and that this Agreement sets forth the entire understanding of the
parties with respect to the subject matter hereof, and no statement,
representation, warranty or covenant has been made by either party except as
expressly set forth herein. This Agreement shall not be changed or terminated
orally. This Agreement supersedes and cancels all prior agreements between the
parties, whether written or oral, relating to the employment of Executive. The
headings and captions contained in this Agreement are for convenience only and
shall not be deemed to affect the meaning or construction of any provision
hereof.

               (f) If, at any time subsequent to the date hereof, any provision
of this Agreement shall be held by any court of competent jurisdiction to be
illegal, void or unenforceable, such provision shall be of no force and effect,
but the illegality or unenforceability of such provision shall have no effect
upon and shall not impair the enforceability of any provision of this Agreement.

               (g) The Company's failure to insist upon strict compliance with
any provision hereof shall not be deemed to be a waiver of such provision or any
other provision hereof. Executive's failure to insist upon strict compliance
with any provision hereof shall not be deemed to be a waiver of such provision
or any other provision hereof.

               (h) This Agreement shall inure to the benefit of and be binding
upon any successor to the Company and shall inure to the benefit of Executive's
successors, heirs and personal representatives.

          IN WITNESS WHEREOF, Executive has hereunto set his hand and, pursuant
to the authorization from its Board of Directors, the Company has caused these
presents to be executed in its name and on its behalf, all as of the day and
year first above written.

                                      /s/ Vincent L. Sadusky
                                      __________________________________________
                                      Vincent L. Sadusky

                                      TELEMUNDO HOLDINGS, INC.

                                                /s/ Peter J. Housman II
                                      By:_______________________________________
                                      Print Name: Peter J. Housman II
                                      Title: Chief Financial Officer & Treasurer

                                      -9-EXHIBIT 10.11

                           FINANCIAL WEBSITE AGREEMENT

                                     BETWEEN

                         SCANDINAVIA ONLINE AS (NORWAY)

                                       AND

                        SCANDINAVIA ONLINE A/S (DENMARK)

                                       AND

                          GLOBALNETFINANCIAL.COM, INC.

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK                1

<PAGE>

<TABLE>
<CAPTION>
<S>      <C>                                                                                                 <C>
1.       DEFINITIONS..........................................................................................4

2.       SUPPLY AND PROMOTION OF CONTENT AND FINANCIAL TRANSACTIONAL SERVICES TO THE SOL PORTALS..............9

3.       GRANT OF LICENCES...................................................................................12

4.       PAYMENT OF PRICE....................................................................................14

5.       SALE AND SPONSORSHIP OF ADVERTISING RIGHTS..........................................................16

6.       ADVERTISING REVENUE DISTRIBUTION....................................................................16

7.       OWNERSHIP...........................................................................................16

8.       EXCLUSIVITY.........................................................................................17

9.       WARRANTIES..........................................................................................18

10.      GLBN'S RESPONSIBILITY FOR THE CONTENT...............................................................19

11.      REVIEW PROCESS......................................................................................20

12.      TERM AND TERMINATION................................................................................20

13.      EXTENSION OF TERM...................................................................................21

14.      CONSEQUENCES OF TERMINATION.........................................................................21

15.      LIMITATIONS OF LIABILITY............................................................................22

16.      CONFIDENTIALITY.....................................................................................23

17.      NOTICES.............................................................................................23

18.      ASSIGNMENT AND CHANGE OF CONTROL....................................................................24

19.      FORCE MAJEURE.......................................................................................24

20.      GENERAL.............................................................................................24

21.      DISPUTE RESOLUTION..................................................................................26

22.      LAW AND JURISDICTION................................................................................26

23.      CONDITIONS TO CLOSING...............................................................................26

</TABLE>

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK                2
<PAGE>

LIST OF SCHEDULES

A:       CO-BRANDING PROFILE

B:       CONTENT

C:       EXCLUSIONS LISTS

D:       GROUP DEFINITION

E:       WORDING ACCORDING TO DATA PROTECTING ACT

F:       SOLS TRAFFIC INFORMATION

G:       TRADE MARKS, SERVICE MARKS AND LOGOS

H:       FINANCIAL TRANSACTIONAL SERVICES

I:       ROLL OUT PLAN

J        NUMERICAL EXAMPLES

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK                3

<PAGE>

THIS FINANCIAL WEBSITE AGREEMENT ("Agreement") is made the ... Day of February
2000.

BETWEEN:

(1)      SCANDINAVIA ONLINE AS, Registration no.974 209 314 whose principal
         place of business is at Gjerdrums vei 11, 0486 Oslo, Norway ("SOLN");

(2)      SCANDINAVIA ONLINE A/S, Registration no. A/S 220723, whose principal
         place of business is atVermundsgate 40 A, 2100 Copenhagen, Denmark
         ("SOLDK");

         (hereinafter, SOLN, , and SOLDK together shall be referred to as "SOL")

(3)      GLOBALNETFINANCIAL.COM, INC. whose principal place of business is at
         7284 West Palmetto Park Road, Suite 210, Boca Raton, Florida. 33433
         ("GLBN").

WHEREAS:

(A)      SOLN owns and operates a portal in Norway (one of the "SOL Portals"
         defined below) and wishes to provide, inter alia, Content and Financial
         Transactional Services to end-users.

(B)      SOLDK owns and operates a portal in Denmark (one of the "SOL Portals"
         defined below) and wishes to provide, inter alia, Content and Financial
         Transactional Services to end-users.

(C)      GLBN owns, has the rights to, and/or may create certain Content and
         Financial Transactional Services which SOL wishes to make available to
         its end users via the SOL Portals in the respective countries.

(D)      GLBN has agreed to develop Finance Channels and provide Content and
         Financial Transactional Services to the SOL Portals in accordance with
         the terms set forth in this Agreement.

(E)      It is within the contemplation of GLBN and SOL that GLBN shall provide
         the Content and Financial Transactional Services to the Finance
         Channels presented on the SOL Portals consistent with the Co-Branding
         Profile, and otherwise in accordance with the terms set forth in this
         Agreement.

 NOW IT IS HEREBY AGREED as follows:

1.       DEFINITIONS

1.1      In this Agreement, including the Schedules, the following words and
         phrases shall have the following meanings:

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK                4

<PAGE>

         "ADVERTISING REVENUE"               25% of the aggregate amounts
                                             arising from the sale or licence of
                                             any Advertising Rights, net of any
                                             applicable Allowed Deductibles;

         "ADVERTISING                        RIGHTS" the advertising,
                                             promotional, sponsorship, investor
                                             relations or similar rights sold or
                                             licensed with respect to Finance
                                             Channel pages in or accessible
                                             through the SOL Portals, but not to
                                             include Financial Transactional
                                             Services;

         "AGREEMENT"                         this Agreement and all Schedules;

         "ALLOWED                            DEDUCTIBLES" Value Added Tax,
                                             advertising agency discounts or
                                             commissions, the direct costs of
                                             delivering any advertising,
                                             promotions, sponsorships or
                                             e-commerce links;

         "BANNER ADVERTISEMENT"              a graphical element positioned on a
                                             web page, purchased by an
                                             advertiser;

         "CHANNEL"                           the online means to access, via one
                                             click of the mouse, an area or
                                             sub-area of SOL Portals dedicated
                                             to a particular theme or topic,
                                             which is effected by a
                                             click-through icon located on, but
                                             not only limited to, the SOL
                                             Portals' Global Navigation Bar;

         "CLOSING                            DATE" The date when the Agreement
                                             is signed and upon which the
                                             Parties agree that this Agreement
                                             shall be binding on the Parties;

         "CO-BRANDING                        PROFILE" as further described in
                                             Schedule "A", except that the name
                                             of the Finance Channel and the URL
                                             stated in Schedule A are for
                                             illustration purposes only;

         "CONTENT"                           investment information including
                                             delayed share prices of traded
                                             shares, available from the Stock
                                             Exchanges in each country included
                                             in the Agreement (in addition to
                                             investment information from other
                                             countries), delayed portfolio
                                             monitoring, analysts commentary,
                                             research, financial news and views
                                             and share charts, and any
                                             additional information approved by
                                             SOL, to be provided on the Finance
                                             Channels on the SOL Portals by
                                             GLBN, as detailed in Schedule "B";

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK                5

<PAGE>

         "CPM"                               the advertising rate per thousand
                                             advertisements shown ;

         "EFFECTIVE DATE"                    the date hereof;

         "EXCLUSION LIST"                    the list set out in Schedule "C",
                                             prepared by GLBN and SOL each
                                             individually for the
                                             non-circumvention of proprietary
                                             relationships;

         "EXCLUSIVITY"                       as fully defined in Clause 8;

         "FINANCE CHANNEL"                   a GLBN developed and owned site
                                             provided to the SOL Portals under
                                             this Agreement, which is accessible
                                             by one click from the SOL Portal
                                             home pages through the SOL Portals'
                                             Global Navigation Bar, as detailed
                                             in Schedule "A", and one or more
                                             clicks from other SOL pages, which
                                             contain a collection of vertically
                                             inter-related web pages all
                                             recognised by having relevance to
                                             the same context of Content and
                                             Financial Transactional Services;

         "FINANCIAL TRANSACTIONAL REVENUE"   revenue generated through a range
                                             of prospective Financial
                                             Transactional Services contemplated
                                             in this Agreement, but not arising
                                             under Advertising Revenue;

         "FINANCIAL TRANSACTIONAL SERVICES"  a range of varied financial
                                             services developed by GLBN
                                             (possibly in cooperation with third
                                             parties) contemplated for
                                             development under this Agreement
                                             including, but not limited to,
                                             on-line share trading and online
                                             insurance services in order to
                                             generate Financial Transactional
                                             Revenue, as further defined in
                                             Clause 2.4, see Schedule H;

         "GLBN BRAND FEATURES"               all trademarks, service marks,
                                             logos and other distinctive brand
                                             features of GLBN, or which are
                                             licensed to GLBN for its use, that
                                             are used in connection with or
                                             relate to the Content and Financial
                                             Transactional Services and the
                                             brand names chosen by GLBN for it's
                                             Finance Channels, including
                                             (without limitation) the
                                             trademarks, service marks and logos
                                             described in Schedule G;

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK                6

<PAGE>

         "GROUP"                             shall have the meaning as in the
                                             Norwegian Company Act of 1997 ss.
                                             1-3 (Attached as Schedule "D") as
                                             applied to the Parties from time to
                                             time;

         "INTELLECTUAL PROPERTY RIGHTS"      all copyright and other
                                             intellectual property rights,
                                             howsoever arising and in whatever
                                             media, whether or not registered,
                                             including (without limitation)
                                             patents, trademarks, service marks,
                                             trade names, registered design and
                                             any applications for the protection
                                             or registration of these rights and
                                             all renewals and extensions thereof
                                             throughout the world, strategies,
                                             business plans and marketing plans;

         "INTERNET"                          the collection of computer networks
                                             commonly known as the Internet;

         "LAUNCH DATE"                       the launch of the Finance Channels
                                             on the SOL Portals, which shall
                                             take place no later than 1st July
                                             2000;

         "LAUNCH DATE AVERAGE"               For every two days that the launch
                                             of a GLBN finance channel on the
                                             SOL Portal owned and operated by
                                             Scandinavia Online AB (registered
                                             in Sweden) is delayed beyond the
                                             1st of July 2000, the Launch Date
                                             Average will extend from 1st July
                                             2000 with one day.

         "LINKS"                             online means which points directly
                                             to a web page on the internet which
                                             accesses a Channel, an area, or a
                                             sub-area of the Internet;

         "LOCK-UP PERIOD"                    shall mean the period where
                                             any transfer, sale or distribution
                                             or pledging as security of the
                                             Common Shares is prohibited;

         "PARTIES"                           the Parties to this Agreement -
                                             GLBN and SOL;

         "PIGGY-BACK AWARENESS CAMPAIGNS"    any and all SOL advertising and
                                             marketing programs in relation to
                                             Finance on the SOL Portals, in
                                             which promotion of the Finance
                                             Channels should be included;

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK                7

<PAGE>

         "PRICE"                             the sums payable by GLBN in
                                             accordance with Clause 4;

         "RECORDS"                           all books and records maintained by
                                             the Parties relating to revenue
                                             pursuant to Clause 6;

         "RENEWAL TERM"                      the period of two years following
                                             the end of the Term;

         "REVIEW DATE 1"                     the date 14 full calendar months
                                             from the Launch Date Average

         "REVIEW DATE 2"                     the date 20 full calendar months
                                             from the Launch Date Average

         "SOL BRAND FEATURES"                all trademarks, service marks,
                                             logos and other distinctive brand
                                             features of SOL that are used in
                                             connection with or relate to the
                                             SOL Portals and the Content and
                                             Financial Transactional Services,
                                             including (without limitation) the
                                             trademarks, service marks, and
                                             logos described in Schedule G;

         "SOL PORTALS"                       the website(s) owned and operated
                                             by SOL in Norway and Denmark and
                                             which are respectively located at:

                                             HTTP://WWW.SOL.NO;
                                             HTTP://WWW.SOL.DK;

                                             or any other domain addresses,
                                             URLs, or such additional websites,
                                             which may replace or co-exist with
                                             the SOL Portals, where the nature
                                             thereof is substantially similar to
                                             the SOL Portals or such site that
                                             may be substantially used by the
                                             existing SOL user base;

         "TERM"                              the period of 24 months from the
                                             Launch Date Average;

         "TERMINATED/TERMINATION"            the unanticipated end of a Term of
                                             any Finance Channel, or of this
                                             Agreement, due to default or
                                             material breach under Clause 12.2,
                                             by SOL or GLBN. Notwithstanding the
                                             foregoing, a Termination cannot be
                                             invoked before Launch Date Average;

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK                8

<PAGE>

         "TRAFFIC"                           page views, unique users, user
                                             sessions on the SOL Portals, or any
                                             page views, unique users , user
                                             sessions directed to the Finance
                                             Channels on the SOL Portals,
                                             measured by branch standards in
                                             each country;

         "URL"                               a uniform resource locator;

         "WWW"                               the World Wide Web, a system for
                                             accessing and viewing text,
                                             graphics, sound and other media via
                                             the Internet.

1.2      References to Clauses and Schedules in this Agreement are to Clauses of
         and Schedules to this Agreement.

1.3      The headings to the Clauses of this Agreement are for ease of reference
         only and shall not affect the interpretation or construction thereof.

1.4      Reference to any statute or statutory provision includes a reference to
         that statute or statutory provision as from time to time amended,
         extended or re-enacted.

1.5      Words importing the singular shall include the plural and vice versa,
         words importing any gender shall include all other genders, words
         importing persons shall include bodies corporate, unincorporated
         associations and partnerships and vice versa.

1.6      References to the whole shall include the part and vice versa.

2.       SUPPLY AND PROMOTION OF CONTENT AND FINANCIAL TRANSACTIONAL SERVICES TO
         THE SOL PORTALS

2.1      GLBN shall supply and be responsible for the Content, which shall be
         co-branded with SOL in accordance with the Co-Branding Profile. The
         Content described in Schedule B shall be supplied by GLBN for use in
         the Finance Channels on the SOL Portals in the respective country and
         in accordance with this Agreement, with effect from Launch Date. The
         Content shall include SOL's Global Navigation Bar and search facilities
         as further described in Schedule "A". GLBN shall keep the Content
         regularly updated (as described in Schedule "B") so that the Content at
         all times during the Term is at a competitive level with other finance
         content providers in the respective countries where the Agreement has
         effect during the Term and Renewal Term.

         2.1.1    It is contemplated in this Agreement that upon introduction of
                  any or all prospective Finance Channels, as described herein
                  or which may be developed prospectively, that the supply of
                  Content and service by GLBN to SOL shall be co-branded in
                  accordance with the then current Co-Branding Profile, as
                  described in Schedule "A", with effect from the Launch Date .
                  In relation to Financial Transactional Services the Parties
                  will aim to co-brand

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK                9

<PAGE>

                  in accordance with Co-Branding Profile subject to both
                  regulatory and third party approval.

2.2      GLBN shall be solely responsible for developing the Content, creating
         and operating the Finance Channels and for procuring all regulatory
         approvals necessary to make the Finance Channels available through the
         SOL Portals. GLBN shall advise SOL in advance of any regulatory
         approvals, licences or authorisations required by SOL to make the
         Content and the Financial Transactional Services available through the
         SOL Portals. SOL will assist GLBN to the extent that this is required
         by GLBN.

2.3      GLBN will not be entitled to supply it's Content to third parties who
         are competitors of the SOL Portals in Norway or Denmark (World Online
         Denmark excepting). GLBN will be able to supply up to 30% of it's
         Content on a syndicated basis to third parties that are not competitors
         to the SOL Portals in Norway and Denmark subject to the joint approval
         of the Parties (World Online Denmark excepting).

2.4      This Agreement does not address online share trading, or online
         brokering or any revenues generated from Financial Transactional
         Services. However, it is contemplated by GLBN that Financial
         Transactional Services shall be developed and adapted for the Finance
         Channels arising under this Agreement as soon as possible after the
         Launch Date of a Finance Channel, subject to regulatory approval. See
         Schedule H for a list of Financial Transactional Services which GLBN
         shall launch on the Finance Channel within 14 months of the Launch Date
         Average , subject to regulatory approval.

         2.4.1    In order for the Financial Transactional Services to be
                  developed and then made available on any Finance Channels on
                  the SOL Portals contemplated under this Agreement, certain
                  business relationships shall be necessary, and may take the
                  form of partnerships or joint ventures with GLBN.

         2.4.2    If and when Financial Transactional Services are made
                  available on the Finance Channels on the SOL Portals, SOL
                  shall be entitled to Financial Transactional Revenues (in an
                  amount to be determined) received by the Finance Channels on
                  the SOL Portals, and generated by Traffic on the SOL Portals ,
                  but subject to Clause 2.4.3.

         2.4.3    SOL shall be extended an opportunity to participate in an
                  equity position in business relationships in order to develop
                  Financial Transactional Services which are made available on
                  the Finance Channels on the SOL Portals, as is contemplated in
                  Clause 2.4.1, on a pari passu basis, provided that SOL accepts
                  a proposed agreement between GLBN and third party(ies) within
                  10 business days of it being presented to SOL. Such
                  participation shall supersede entitlement under Clause 2.4.2,
                  in such cases. SOL shall not be extended an opportunity to
                  participate in the equity of any prior-existing equity
                  business relationships between GLBN and any third-party
                  existing prior to the Effective Date, and in such a case, SOL
                  shall be entitled to Financial Transactional Revenues. For the
                  avoidance of doubt, GLBN cannot

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               10

<PAGE>

                  use an existing Financial Transactional Service business which
                  already exists to bring online share trading and online
                  insurance services to Norway, Denmark or Sweden.

         2.4.4    Any agreement between the Parties addressing Financial
                  Transactional Services and Financial Transactional Revenues
                  (if not otherwise specified in Clause 4.2, below), shall be
                  subject to negotiations subsequent to this Agreement, and any
                  such agreement may appear as an addendum to this Agreement.

         2.4.5    Should GLBN be unable to develop the Financial Transactional
                  Services outlined in Schedule H within the time period
                  outlined in Schedule H, and this is not due to delay on the
                  part of SOL, SOL shall be entitled to develop such Financial
                  Transactional Services, alone or with a third party, so long
                  as such Financial Transactional Service is made available to
                  SOL's customers through the Finance Channels. Web site real
                  estate adequate for and comparable to the space allocated to
                  similar Financial Transactional Services shall be available
                  for such service on the Finance Channel on terms equal to the
                  going market rate for such web site real estate. SOL will
                  collect the advertising revenue on such real estate, keep the
                  Advertising Revenue, the commission agreed upon in Clause 6.1
                  and pay the balance to GLBN as described in Clause 6.
                  Alternatively the Parties may agree that GLBN shall receive a
                  financial transactional service revenue.

2.5      During the Term and any Renewal Term, GLBN will provide such ongoing
         assistance to SOL in respect of technical, administrative and
         service-oriented issues relating to the use and transmission of the
         Content to the SOL Portals, as SOL may reasonably request.

2.6      SOL shall promote the Finance Channels on the SOL Portals by placing
         buttons to the Finance Channels on the SOL Portals Global Navigation
         Bar above the fold and will promote the Finance Channels, no less
         frequently and no less prominently than any other Channel available
         through the SOL Portals Global Navigation Bar. Access to Finance
         Channels on the SOL Portal from the SOL Portal Global Navigation Bar
         shall be navigated directly via oneclick of the mouse from any SOL
         Portals home page and via one or more clicks of the mouse from any
         other SOL Portals page. For the avoidance of doubt, SOL shall provide a
         permanent Link from any dedicated 'money', 'finance', 'investment', or
         similarly titled SOL Portals Channel (currently on the SOL Portals, or
         if and when developed) to the Finance Channels.

2.7      SOL shall use reasonable endeavours to develop Links from other
         ISP/Portals, websites, channels, URL's, other Internet Services,
         Wireless Application Protocol and television , or services in order to
         generate and direct Traffic to the Finance Channels on the SOL Portals.
         SOL shall be responsible for marketing the Finance Channels on the SOL
         Portals in order to generate maximum Traffic to the Finance Channels on
         the SOL Portals.

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               11

<PAGE>

2.8      SOL shall use reasonable endeavours to continue to build its subscriber
         base and Traffic to SOL Portals and to drive Traffic to the Finance
         Channels on the SOL Portals.

2.9      If provided by the end user, GLBN shall provide SOL on a daily basis
         with the following customer information from the Finance Channels on
         the SOL Portals (subject to the Data Protection Act):

         2.9.1    Name, address, e-mail address, age, sex, whether or not the
                  customer has a portfolio of shares registered on the Finance
                  Channels on the SOL Portals, telephone and mobile telephone
                  numbers.

2.10     GLBN shall, as a minimum, implement the wording, contained in Schedule
         "E", on the page(s) where customers are required to register for
         certain types of information on the Finance Channels on the SOL Portals
         to ensure the transfer of the customer data mentioned in Section 2.9.1
         in compliance with the data protection legislation of each country.

2.11     GLBN shall provide SOL with traffic reports related to Traffic on the
         Finance Channels on the SOL Portals in the respective countries. The
         transmission shall take place via a FTP to the SOL servers, every night
         between 2 and 5 am local time. However, Traffic from third-party
         sources (for example "Stock Point") shall be provided weekly. GLBN will
         use reasonable endeavours to get such third parties to provide such
         Traffic more frequently. GLBN shall bear the cost of establishing the
         necessary transmission protocols and equipment. SOL shall provide GLBN
         with aggregate level traffic reports related to Traffic on the SOL
         Portals weekly or quarterly as is received by SOL.

2.12     SOL shall have the right to add the Traffic figures from the Finance
         Channels on the SOL Portals to the SOL total Traffic information.

3.       GRANT OF LICENCES

3.1      Subject to the terms and conditions of this Agreement, SOL hereby
         grants to GLBN:

         3.1.1    an exclusive (as defined in clause 8), royalty-free,
                  fully-paid licence to use, display the Finance Channel on the
                  SOL Portals homepage and the global navigation bar, and to
                  promote, cross-promote, market, and advertise the Finance
                  Channel in other areas within the SOL Portals as agreed from
                  time to time;

         3.1.2    an exclusive (as defined in clause 8), royalty-free,
                  fully-paid licence to use, reproduce and display the GLBN
                  Brand Features in the Finance Channels on the SOL Portals and
                  in other areas within the SOL Portals, which are used to drive
                  Traffic to the Finance Channels on the SOL Portals, for the
                  SOL countries in which a Finance Channel for the SOL Portals
                  is developed pursuant to this Agreement in connection with (i)
                  the presentation of the

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               12

<PAGE>

                  Content and Financial Transactional Services within the SOL
                  Portals, and (ii) the marketing and promotion of the Finance
                  Channels within the SOL Portals via the WWW, in accordance
                  with the terms of this Agreement;

         3.1.3    to the extent possible, a royalty-free, fully-paid licence to
                  use, reproduce and display relevant parts of the Finance
                  Channels (as determined by GLBN) over the SOL Wireless
                  Application Protocol Portal ("SOL WAP Portal") when developed
                  and launched. GLBN shall cover its own cost for implementing
                  and managing the necessary technology for this service.

3.2      The licence contained in Clause 3.1 is subject to:

         3.2.1    the GLBN Brand Features being included in the Finance Channels
                  with proper proprietary notices appearing in the Finance
                  Channels and in all uses of GLBN Branded Features; and

         3.2.2    no changes being made to the Finance Channels design format as
                  outlined in Schedule A without the prior written approval of
                  the other Parties. However , the SOL Portals will be
                  redesigned from time to time, and in the case of such
                  redesigning a meeting will take place between SOL and GLBN to
                  agree on the new design for the Finance Channel, and the art
                  directors from both companies will have the power to approve
                  such new designs. The new design should reflect the same way
                  of co-branding as in the previous version, and the SOL Portals
                  look and feel in the respective countries from time to time.
                  Further, the brand name of SOL and the brand name which GLBN
                  chooses for it's Finance Channels shall always take up the
                  same amount of space as in Schedule A, and shall have similar
                  relative positions as in Schedule A. The new design will
                  replace Schedule A effective from the date of such approval.

3.3      GLBN shall have the Finance Channels ready for launch on the SOL
         Portals as soon as possible but no later than the three business days
         prior to the 1st July 2000. SOL shall launch the Finance Channels on
         the SOL Portals no later than three days from GLBN informing them that
         it is ready for launch on the SOL Portals. For services on the SOL WAP
         Portals, GLBN shall have the option of starting operations at the
         latest, 60-days after launch of the SOL WAP Portals, provided that SOL
         must give GLBN 60-days notice prior to the Launch of the SOL WAP
         Portals.

3.4      Subject to the terms and conditions of this Agreement, SOL hereby
         grants to GLBN, a royalty-free, fully-paid licence to use, reproduce
         and display the SOL Brand Features in connection with the presentation
         of the Finance Channels on the SOL Portals.

3.5      Subject to the terms of this Agreement, all other rights with respect
         to the Finance Channels and any reproductions or derivative works of
         it, whether now existing or which may come into existence after the
         Effective Date which are not expressly granted to SOL under this
         Agreement, including but not limited to print publication, electronic
         publication in all media and in all formats other than those addressed
         in this Agreement, and video, movie and audio rights, are reserved to
         GLBN.

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               13

<PAGE>

4.       PAYMENT OF PRICE

4.1      In consideration for the Exclusivity for the Term granted to GLBN in
         providing and operating the Finance Channels on the SOL Portals as
         contemplated under this Agreement, GLBN agrees to pay the Price to SOL
         as follows:

         4.1.1    GLBN shall pay a cash contribution of US $ 1,650,000 (one
                  million six hundred and fifty thousand dollars) to SOL which
                  shall be divided by SOL between the SOL Portals at their
                  discretion;

         4.1.2    GLBN shall pay by allocation of Common Shares in GLBN, such
                  Common Shares currently traded on the nasdaq NMS under the
                  symbol GLBN. GLBN shall issue new Common Shares to SOL in an
                  amount equal to $ 2,475,000 (two million four hundred and
                  seventy five thousand dollars). Such Common Shares shall be
                  priced at the average of closing price for the five business
                  days immediately prior to the signing of the Heads of
                  Agreement dated January 19th 2000, such average closing price
                  being US $28.225. SOL shall receive 87,688 Common Shares in
                  GLBN. Such Common Shares shall be distributed between the SOL
                  Portals at their discretion.

         4.1.3    The Price shall be paid according to the following schedule:

                  At Closing:             US $ 2,475,000 by the allocation of
                                          87,688 Common Shares.

                  At Review Date 1:       If the Agreement is continued for
                                          another 6 months (see Clause 11) US
                                          $ 990,000 will be paid as a cash
                                          contribution to an account as
                                          specified by SOL.

                  At Review Date 2:       If the Agreement is continued until
                                          the end of the Term, (see Clause 11) a
                                          cash contribution of US $ 60,000 will
                                          be paid to an account as specified by
                                          SOL.

4.2      In relation to Financial Transactional Services, which shall appear on
         the Finance Channels on the SOL Portals subject to regulatory approval,
         SOL shall be entitled to invest in Financial Transactional Services on
         the following basis:

         4.2.1    GLBN shall use reasonable endeavours to develop Financial
                  Transactional Services for Scandinavia (Norway, Sweden and
                  Denmark) for all Finance Channels, including the Finance
                  Channels on the SOL Portals. SOL shall be entitled to
                  participate pari passu with GLBN to 55% of the 88% awarded the
                  SOL Group of half of the equity shares not subscribed to by
                  third parties that are not traffic partners (such as World
                  Online), see Schedule J for examples.

         4.2.2    GLBN shall use reasonable endeavours to develop Financial
                  Transactional Services for all Finance Channels, which may or
                  may not include one or more of the Finance Channels on the SOL
                  Portals. In all these instances, SOL shall

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               14

<PAGE>

                  be entitled to participate pari passu with GLBN to a portion
                  of half of the shares not subscribed to by third parties that
                  are not traffic partners, equal to the proportionate unique
                  visitor numbers (as measured and/or audited by the same
                  independent third party) they provide in relation to the total
                  unique visitor numbers provided by the traffic partners on
                  whose portals the service is made available.

4.3      In the event that SOL decides not to invest as an equity shareholder in
         Financial Transactional Services, SOL shall be entitled to a revenue
         share to be agreed at that time. In such an event, SOL's choice is
         mutually exclusive as to clause 4.2, above (for the avoidance of doubt,
         SOL cannot be an equity investor, and, additionally, receive revenues
         from Financial Transactional Services). ?????

4.4      Subject to the joint agreement of the Parties, this Agreement may be
         renewed for the Renewal Term on similar terms and conditions as this
         Agreement.

4.5      LOCK UP AGREEMENT

         The Common Shares contributed as payment in accordance with Clause 4 of
         this Agreement shall be subject to a Lock-up period in accordance with
         the following conditions;

         a)       25% of the Common Shares distributed to each of the SOL
                  companies, shall be subject to a Lock-up period of 9-months
                  following the Closing Date of this Agreement; and

         b)       25% of the Common Shares distributed to each of the SOL
                  companies, shall be subject to a Lock-up period 1-year
                  following the Closing Date of this Agreement; and

         c)       25% of the Common Shares distributed to each of the SOL
                  companies, shall be subject to a Lock-up period of 18-months
                  following the Closing Date of this Agreement; and

         d)       25% of the Common Shares distributed to each of the SOL
                  companies, shall be subject to a Lock-up period of 24-months
                  following the Closing Date of this Agreement.

5.       SALE AND SPONSORSHIP OF ADVERTISING RIGHTS

5.1      SOL shall have a right for sale and sponsorship of Advertising Rights
         for the Finance Channels on the SOL Portals under this Agreement. CPM
         for advertisements shall not be under 90 % of the average CPM of the
         SOL Portals in the respective countries, or the average CPM of the
         advertising agencies.

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               15

<PAGE>

5.2      GLBN agrees that SOL may, at no additional cost, place one button (of
         no more than 130x20 or 130x50 pixels in size) in the right hand column
         on each page of the Content for the promotion of its SOL Portals
         subject to GLBN choice of placement.

6.       ADVERTISING REVENUE DISTRIBUTION

6.1      For advertisements sold by SOL, the agency commission will be 30% or as
         agreed from time to time between the Parties. SOL shall determine the
         advertising revenue received each quarter at the end of such quarter
         and pay/account for the relevant sums in accordance with this Clause 6.
         SOL shall retain the Advertising Revenue, if received by SOL, and the
         balance shall be paid to GLBN within seven (7) days of such quarter.

6.2      In the event GLBN, or it's appointed advertising agency, shall generate
         certain advertising revenue controlled by this Agreement, then GLBN
         shall pay the Advertising Revenue to SOL within 7 days after the end of
         the quarter in which such advertising revenue is received by GLBN,
         together with a report, signed by an officer of GLBN, confirming the
         amount of advertising revenue received.

6.3      Each Party shall at its cost (except as provided below) have the right
         during normal working hours and upon 10 working days' written notice to
         the other Party to examine or audit the other Party's books or records
         relating to the revenue in order to verify the amounts due to that
         Party. Each Party shall provide reasonable assistance to the other
         Party, in relation to any such audit. If any such audit reveals an
         underpayment of the amounts due to that Party, the other Party shall
         within 14 working days pay to that Party the amount of such
         underpayment and, if the audit reveals an underpayment of more than 15%
         of the amounts due to that Party, reimburse that Party the reasonable
         costs of such audit.

6.4      All sums payable hereunder are exclusive of any taxes which is (if
         applicable) payable in addition at the rate and in the manner
         prescribed by law from time to time.

7.       OWNERSHIP

7.1      SOL acknowledges and agrees that GLBN owns all Intellectual Property
         Rights in the Finance Channels, including the URLs of the Finance
         Channels, and the GLBN Brand Features or GLBNs URLs. Nothing in this
         Agreement shall confer in SOL any right of ownership in the Content or
         the GLBN Brand Features or GLBN's URLs and SOL shall not now or in the
         future contest the validity of the GLBN Brand Features or GLBNs URLs,
         or GLBN's rights in or to the Finance Channels or GLBN's Brand Features
         or GLBNs URLs.

7.2      GLBN acknowledges and agrees that SOL own all Intellectual Property
         Rights in the SOL Brand Features or SOL URLs. Nothing in this Agreement
         shall confer in GLBN any right of ownership in the SOL Brand Features
         or SOL URLs and GLBN shall not now or in the future contest the
         validity of the SOL Brand Features or SOL URLs, or SOL rights in the
         SOL Brand Features or SOL URLs.

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               16

<PAGE>

7.3      At the discontinuation of the Agreement, or an individual Finance
         Channnel, either at Review Date 1 or 2, or at Termination or at the end
         of the Term or the end of Renewal Term, GLBN will change the colours
         and the design on the GLBN finance channel, so as not to keep the look
         and feel of the SOL Portal at that time. GLBN acknowledges that SOL may
         wish to copy the layout of the Finance Channel in any new arrangement
         that is made.

8.       EXCLUSIVITY

8.1      SOL shall not, during the Term or any Renewal Term, except as provided
         for in Clause 2.4.5 above and/or Clause 8.2 or 8.3 below, provide or
         enter into an agreement with any third-party, or otherwise develop
         content and/or financial transactional services similar to the Content
         and Financial Transactional Services provided by, and intended to be
         provided by, GLBN on the Finance Channels on the SOL Portals. The
         Exclusivity of GLBN shall be limited to the Finance Channel on the SOL
         Portals, and in addition GLBN shall be the only provider of such
         Content and or Financial Transactional Services on the SOL Portals, so
         long as GLBN complies with Schedule H. For the avoidance of doubt, GLBN
         shall be the sole provider of finance channels, or sub finance
         channels, and of content similar to Content or financial services
         transactions similar to Financial Transactional Services on the SOL
         Portals during the Term and any Renewal Term of this Agreement.

8.2      For the avoidance of doubt, the Exclusivity granted to GLBN does not
         restrict SOL's right to publish content, news, tools, and features of a
         financial nature, so long as the publishing of such information is
         presented as a sub-service and/or add-on feature on other Channels
         within the SOL Portals, and, so long as the publishing of applications
         are presented in a context of substantially non-financial nature. Such
         Channels or applications may be: "Breaking News", "Computers and
         Science", "Health", "Travel", "Gaming", "My SOL", "My Bank"
         (personalised content), the search engines "Kvasir" and "Evreka"
         (containing financial directories and URL's). SOL is not restricted
         from providing SOL credit card, SOL loyalty card or program, everyday
         consumer banking such as day to day payment and looking at account
         balances, SOL debit card, SOL current account, or other SOL payment
         mechanism on the SOL Portals.

8.3      SOL shall have the right to maintain all existing agreements with all,
         pre-Agreement, financial content providers, provided that such
         financial content is published and integrated into Financial Channel
         under GLBN's guidance. Upon expiration of such agreements, GLBN shall
         have sole discretion regarding renewal of such agreements, or may
         choose to provide such additional content.

8.4      The SOL Group may at any time develop new digital products, services or
         platforms, new web sites, SOL Group Portals or services ("New SOL Group
         IT") during the Term of the Agreement. GLBN shall be entitled to a
         Penalty to the extent that such New SOL Group IT diverts Traffic from
         the SOL Portals based on http protocol, as measured by the reduction
         from the unique user Traffic information provided in

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               17

<PAGE>

         Schedule F, in as much as this is caused by such New SOL Group IT
         according to a separate study performed by an independent source. The
         Penalty shall equal a portion of the consideration equal to the
         reminder of the prepaid period, in proportion to the traffic lost, plus
         10%

8.5      When SOL, or another company in the SOL Group should initiate a
         majority owned portal operation in Finland, GLBN shall have the same
         rights of Exclusivity to provide a Finance Channel to the SOL Finland
         Portal as governed by this Agreement. No additional consideration shall
         be due from GLBN, or GLBN Group company, for such rights.

9.       WARRANTIES

9.1      Each Party to this Agreement represents and warrants to the other Party
         that:

         9.1.1    it has the full corporate right, power and authority to enter
                  into this Agreement and to perform its obligations hereunder;

         9.1.2    the execution of this Agreement by such Party, and the
                  performance by such Party of its obligations and duties
                  hereunder, do not and will not violate any agreement to which
                  such Party is a Party or by which it is otherwise bound; and

         9.1.3    when executed and delivered by such Party, this Agreement will
                  constitute the legal, valid and binding obligation of such
                  Party, enforceable against such Party in accordance with its
                  terms.

9.2      GLBN represents and warrants to SOL that:

         9.2.1    it has sufficient rights in the Content to be published on the
                  Finance Channels in accordance with the terms of this
                  Agreement; and

         9.2.2    it has, and will continue to maintain, all regulatory
                  licences, registrations and authorities required to deliver
                  the Content and operate Finance Channels through the SOL
                  Portals;

         9.2.3    to the extent that the information is on the GLBN webserver(s)
                  under GLBN's control, that the Financial Channels on the SOL
                  Portals shall be up and accessible 99.5% of the time from the
                  Launch Date, measured by GLBN over 45 days rolling and
                  reported to SOL.

9.3      SOL represents and warrants to GLBN that:

         9.3.1    they have sufficient rights in the SOL digital service,
                  products or other platforms and websites or SOL Portals to
                  grant to GLBN the right to use the same in accordance with the
                  terms of this Agreement; and

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               18

<PAGE>

         9.3.2    they have, and will continue to maintain, all regulatory
                  licences, registrations and authorities for the SOL digital
                  service, products or other platforms and websites or SOL
                  Portals; and

         9.3.3    to the extent that the information is on the SOL webserver(s)
                  under SOL's control, that the SOL Portals, and all Links to
                  the Finance Channels from the SOL Portals, shall be up and
                  accessible 99.5% of the time from Launch Date measured by SOL
                  over 45 days rolling and reported to GLBN; and

         9.3.4    SOL shall use its reasonable endeavours to direct an
                  increasing amount of Traffic to the Finance Channels on the
                  SOL Portals; and

         9.3.5    that the Traffic figures contained in Schedule "F" are current
                  and accurate; and

         9.3.6    that the URLs mentioned in the definition of SOL Portals are
                  the URLs used by the SOL customer base that generates the
                  Traffic described in Schedule F.

10.      GLBN'S RESPONSIBILITY FOR THE CONTENT

10.1     GLBN will ensure that the Finance Channels and the Financial
         Transactional Services comply with all applicable laws and regulations.

10.2     GLBN will use reasonable endeavours to ensure that the Content and/or
         Financial Transactional Services on the SOL Portals do not infringe any
         Intellectual Property Rights of a third party and that it does not
         libel, defame, cause injury to, invade the privacy of or otherwise
         violate any other rights of any person.

10.3     If at any time during the Term of this Agreement any part of the
         Content and/or the Finance Channels and/or the Financial Transactional
         Services on the SOL Portals are in breach of any applicable law or
         regulation or infringes the Intellectual Property Rights of any third
         party then GLBN shall:

         10.3.1   use reasonable endeavours to provide alternative content which
                  will not be in breach of any applicable law or regulation or
                  infringe the Intellectual Property Rights of any third party;
                  or

         10.3.2   remove the offending part of the Content and replace it so far
                  as is reasonably practicable with equivalent content.

11.      REVIEW PROCESS

11.1     Within the Review Date 1 and Review Date 2, the Parties will assess
         each others fulfilment of the obligations and benefits derived under
         this Agreement. To the extent that the performance and the benefits
         derived from this Agreement is considered satisfactory, the Agreement
         will be continued automatically. A notice of non-

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               19

<PAGE>

         continuance must be given to the other Party in writing no later than
         thirty days before Review Date 1 or Review Date 2.

12.      TERM AND TERMINATION

12.1     This Agreement shall take effect from the Effective Date and shall
         continue thereafter for the Term after the Launch Date Average, unless
         it is discontinued on Review Date 1 or Review Date 2 as described in
         Clause 11 above. This Agreement shall extend through the Renewal Term
         as further described in Clause 4.4.

12.2     Either Party shall be entitled to Terminate this Agreement, or to
         Terminate an individual Finance Channel under this Agreement, with
         written notice in the event that the other:

         12.2.1   commits a material breach of the terms of this Agreement and
                  having received from the Party(ies) not in breach written
                  notice of such breach stating the intention to Terminate this
                  Agreement, or to Terminate an individual Finance Channels on
                  the SOL Portals under this Agreement if not remedied, and the
                  noticed Party fails to remedy the breach within 30-days; or

         12.2.2   shall cease to carry on its business or shall have a
                  liquidator, receiver or administrative receiver appointed to
                  it or over any part of its undertaking or assets or shall pass
                  a resolution for its winding up (otherwise than for the
                  purpose of a bona fide scheme of solvent amalgamation or
                  reconstruction where the resulting entity shall assume all of
                  the liabilities of it) or a court of competent jurisdiction
                  shall make an order, or shall enter into any voluntary
                  arrangement with its creditors, or shall be unable to pay its
                  debts as they fall due, or similar in any other jurisdiction.

         12.2.3   Repeated breaches of the warrants given under Clauses 9.2.3
                  and 9.3.3 shall be considered material to both Parties.

13.      EXTENSION OF TERM

13.1     Upon conclusion of the Term under this Agreement, this Agreement shall
         be renewed for the Renewal Term if agreed to by the Parties.

14.      CONSEQUENCES OF TERMINATION

14.1     In the event of the Terminatio this Agreement and/or a Finance Channel,
         the Parties agree to:

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               20

<PAGE>

         14.1.1   cease using the other's "Brand Features";

         14.1.2   with respect to any payments of Advertising Revenue and/or
                  Financial Transactional Revenues outstanding, SOL and GLBN
                  agree to pay to the other Party its percentage of such
                  revenues in accordance with the provisions of Clause 6 as well
                  as Financial Transactional Revenue.

14.2     If this Agreement or any individual Finance Channel on the SOL Portal
         is Terminated according to clause 12.2 by reason of breach on the side
         of SOL, SOL shall reimburse GLBN, notwithstanding Clause 4.5 (for the
         avoidance of doubt, the Lock- up agreement does not apply for
         reimbursements under this Clause), in accordance with the following
         schedule:

         14.2.1   US $ 2,475,000 or 87,688 Common Shares, at SOLS discretion as
                  to cash or shares, plus $ 275,000 (two hundred and seventyfive
                  thousand dollars) if Termination is before 1 month of the
                  Launch Date Average;

         14.2.2   If Terminated 1 month after Launch Date Average or later, a
                  pro rata share of the consideration prepaid, either in cash or
                  the number of shares (at SOLs discretion), corresponding to
                  the remaining prepaid number of months.

14.3     If this Agreement or any individual Finance Channel on the SOL Portal
         is Terminated according to clause 12.2 by reason of breach on the side
         of GLBN, SOL shall reimburse GLBN, notwithstanding Clause 4.5 (for the
         avoidance of doubt, the Lock- up agreement does not apply for
         reimbursements under this Clause), in accordance with the following
         schedule:

         14.3.1   US $ 2,200,000 or 77,945 Common Shares, at SOLs discretion as
                  to cash or shares if Terminated between Effective Date and
                  before 1 month of Launch Date Average;

         14.3.2   If Terminated 1 month after Launch Date Average or later, a
                  pro rata share of the consideration prepaid, either in cash or
                  the number of shares (at SOLs discretion), corresponding to
                  the remaining prepaid number of months, less 10%.

14.4     In the event of only one Finance Channel being Terminated, the
         reimbursements due under Clause 14.2 and 14.3 shall be reduced
         accordingly. 40/55 parts of such reimbursement shall be due for
         Termination of SOLN and 15/55 parts of such reimbursement shall be due
         for the termination of SOLDK.

14.5     Any Termination or discontinuance of the Agreement or of a Finance
         Channel on the SOL Portals arising under this Agreement (howsoever
         occasioned), shall not affect any accrued rights or liabilities of
         either Party nor shall it affect the coming into force or the
         continuance in force of any provision hereof which is expressly or by
         implication intended to come into or continue in force on or after such
         Termination or discontinuance.

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               21

<PAGE>

14.6     Clauses 14, 15, 16, 17, 21 and 22 shall survive Termination or
         discontinuation of any Finance Channel that shall mature to Launch Date
         as contemplated under this Agreement, or Termination or discontinuation
         of this Agreement.

14.7     On any Termination or discontinuation of a Finance Channel arising
         under this Agreement (other than a termination by GLBN in accordance
         with Clause 12.2) or on Termination or discontinuation of this
         Agreement, all on expiration of the Agreement, both GLBN and SOL shall
         have the right to use all customer information generated from the
         Finance Channels.

15.      LIMITATIONS OF LIABILITY

15.1     Subject to Clause 14.2, the liability of either Party in contract,
         tort, negligence, pre-contract or other representations or otherwise
         arising out of or in connection with this Agreement or the performance
         or observance of its obligations under this Agreement, and every
         applicable part of it shall be limited in aggregate to US $ 2,475,000,
         reduced on a pro rata basis in accordance with the remainder of the
         Term.

         15.1.1   Not withstanding the foregoing, GLBN shall indemnify SOL for
                  liability arising out of, or in connection with, the Finance
                  Channels, subject to a limited aggregate of US $550,000.

         15.1.2   Not withstanding the foregoing, SOL shall indemnify GLBN for
                  liability arising out of, or in connection with, the SOL
                  Portals, subject to a limited aggregate of US $550,000.

15.2     In any event, neither Party shall be liable to the other under, or in
         connection with, this Agreement in contract, tort, negligence,
         pre-contract or other representations (other than fraudulent or
         negligent misrepresentations) or otherwise for any loss of business,
         contracts, profits or anticipated savings or for any indirect or
         consequential or economic loss whatsoever, except for in cases of gross
         negligence or wilful misconduct.

15.3     Each provision of this Clause 15 excluding or limiting liability shall
         be construed separately, applying and surviving even if for any reason
         one or other of these provisions is held inapplicable or unenforceable
         in any circumstances and shall remain in force notwithstanding the
         expiration, Termination of a Finance Channel on the SOL Portal, or
         Termination of this Agreement.

16.      CONFIDENTIALITY

16.1     During the Term and thereafter, each Party agrees with the other,
         except for as otherwise agreed herein, to keep all information that
         they obtain about the other concerning the business, finances,
         technology, affairs and Intellectual Property Rights of the other, and
         in particular but not limited to the Content and Financial
         Transactional Services and the SOL Portals and regardless of its nature
         ("Confidential

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               22

<PAGE>

         Information"), strictly confidential, except as needed in connection
         with the establishment and operation of Financial Transactional
         Services.

16.2     The provisions of this Clause 16 shall cease to apply to:

         16.2.1   information that has come into the public domain other than by
                  breach of this Clause or any other duty of confidence; and

         16.2.2   information that is obtained from a third party without breach
                  of this Clause or any other duty of confidence; and

         16.2.3   information that is known by either Party, in connection with
                  the other Party, and which has been disclosed to either Party
                  by a third party, other than GLBN or SOL or a contractor of
                  either of them and not in breach of any duty of confidence;
                  and

         16.2.4   information that is trivial or obvious; and

         16.2.5   information that is required to be disclosed by a government
                  body or court of competent jurisdiction.

17.      NOTICES

17.1     Any notices required to be given under this Agreement shall be in
         writing and shall be deemed to have been duly served if hand delivered
         or sent by facsimile with the original to be forwarded by first class
         post or by first class registered post or recorded delivery post within
         the United Kingdom and outside the United Kingdom by registered airmail
         post correctly addressed in the case of GLBN to the Managing Director
         and in the case of SOL to the General Manager at the addresses
         specified in this Agreement or at such other address as either Party
         may designate from time to time in accordance with this Clause 17.

17.2     Any notice pursuant to Clause 17.1 shall be deemed to have been served:

         17.2.1   if hand delivered at the time of delivery by posting through
                  the letter box of the correct addressee in accordance with
                  Clause 17.1 above;

         17.2.2   if sent by facsimile within one hour of transmission during
                  business hours at its destination or within 24 hours if not
                  within business hours but subject to proof by the sender that
                  it holds an acknowledgement confirming receipt of the
                  transmitted notice in readable form; and

         17.2.3   if sent by post within 48 hours of posting (exclusive of the
                  hours of Sunday) if posted to an address within the country of
                  posting and seven days of posting if posted to an address
                  outside the country of posting.

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               23

<PAGE>

18.      ASSIGNMENT AND CHANGE OF CONTROL

18.1     GLBN shall be entitled to assign the benefit and/or the burden of this
         Agreement in whole or in part to a company within the Group upon notice
         to SOL , save in the event that all the shares in GLBN are acquired by
         a direct competitor of SOL in Sweden, Norway and/or Denmark in the
         Internet general consumer content business (for example AOL) and not an
         Internet specialist consumer content business (such as Schwabb or
         CNN).In the event of such an assignment GLBN will not be entitled to
         Exclusivity defined in Clause 8.

18.2     SOLS shall be entitled to assign the benefit and/or the burden of this
         Agreement in whole or in part to a company within the Group upon notice
         to GLBN, save in the event that all the shares in SOL are acquired by a
         direct competitor of GLBN in Sweden, Norway and/or Denmark in the
         Internet specialist consumer content business (such as Schwabb) and not
         a general consumer content business (for example AOL). In the event of
         such an assignment GLBN will be entitled to distribute its Content,
         notwithstanding Clause 2.3.

19.      FORCE MAJEURE

19.1     Neither Party shall be liable for failure to perform or delay in
         performing any obligation under this Agreement if the failure or delay
         is caused by any circumstances beyond its reasonable control, including
         but not limited to acts of god, war, civil commotion or industrial
         dispute. If such delay or failure continues for at least ninety (90)
         days, the Party not subject to the force majeure shall be entitled to
         terminate this Agreement by notice in writing to the other. In such an
         event a pro rata share of the consideration pre paid, corresponding to
         the remaining prepaid number of months, is reimbursed. To the extent
         the prepayment was made in shares, the reimbursement shall be made in
         the proportionate numbers of shares. To the extent the prepayment was
         made in cash, the reimbursement shall be made in cash.

20.      GENERAL

20.1     This Agreement (as amended from time to time) together with any
         document expressly referred to in any of its terms, contains the entire
         agreement between the Parties relating to the subject matter covered
         and supersedes any previous Agreements, arrangements, undertakings or
         proposals, written or oral, between the Parties in relation to such
         matters. No oral explanation or oral information given by any Party
         shall alter the interpretation of this Agreement. All Parties confirm
         that, in agreeing to enter into this Agreement, they have not relied on
         any representation save insofar as the same has expressly been made a
         representation in this Agreement and agrees that they shall have no
         remedy in respect of any misrepresentation which has not become a term
         of this Agreement save that the Agreement of all Parties contained

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               24

<PAGE>

         in this Clause shall not apply in respect of any fraudulent or
         negligent misrepresentation whether or not such has become a term of
         this Agreement.

20.2     No addition to, or modification of, any provision of this Agreement
         shall be binding on the Parties unless made by a written instrument and
         signed by a duly authorised representative of each of the Parties.

20.3     The failure to exercise or delay in exercising a right or remedy under
         this Agreement shall not constitute a waiver of the right or remedy or
         a waiver of any other rights or remedies and no single or partial
         exercise of any right or remedy under this Agreement shall prevent any
         further exercise of the right or remedy or the exercise of any other
         right or remedy. The rights and remedies contained in this Agreement
         are cumulative and not exclusive of any rights or remedies provided by
         law.

20.4     The invalidity, illegality or un-enforceability of any provision of
         this Agreement shall not affect or impact the continuation in force of
         the remainder of this Agreement.

20.5     Nothing in this Agreement shall be construed as creating a partnership
         or joint venture of any kind between the Parties or as constituting
         either Party as the agent of the other Party(ies) for any purpose
         whatsoever and neither Party(ies) shall have the authority or power to
         bind the other Party(ies) or to contract in the name of or create a
         liability against the other Party(ies) in any way or for any purpose.

20.6     This Agreement may be executed in any number of counterparts each of
         which when executed and delivered shall be an original but all the
         counterparts together shall constitute one and the same instrument.

20.7     All Parties undertake with the other to do all things reasonably within
         its power, which are necessary or desirable to give effect to the
         spirit and intent of this Agreement.

20.8     The Parties hereto shall and, shall use their respective reasonable
         endeavours to procure, so far as they are able, that any necessary
         third parties shall execute and perform all such further deeds,
         documents, assurances, acts and things as any of the Parties hereto may
         reasonably require, by notice in writing to the other to carry the
         provisions of this Agreement into effect.

20.9     GLBN shall not approach or enter into business arrangements with any
         entity that appears on the SOL Exclusion List.

20.10    SOL shall not approach or enter into business arrangements with any
         entity that appears on the GLBN Exclusion List.

21.      DISPUTE RESOLUTION

21.1     Disputes between the Parties arising out of or in connection with this
         Agreement shall primarily be resolved by negotiations. Each Party may
         however decide to refer the

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               25

<PAGE>

         dispute to arbitration in accordance with the then-current rules of
         Chapter 32 of the Norwegian Civil Procedures Act of 13 August 1915, if
         a settlement has not been reached within 3 weeks of negotiations.

21.2     However, neither negotiations nor the arbitration clause shall limit
         either Party to seek interim, interlocutory or permanent injunctive
         relief from any court of competent jurisdiction.

21.3     The arbitration proceedings will be conducted in Oslo or any other city
         acceptable to all Parties. The language of the arbitration proceedings
         will be in English. All arbitration will be conducted before a three
         person panel, consisting of one arbitrator selected by the GLBN, one
         arbitrator selected by SOL, and one arbitrator selected by the
         foregoing two arbitrators. If any of the Parties should fail to appoint
         an arbitrator within 3 weeks after the negotiations period as mentioned
         above has ended, the other Party will be given the right to appoint the
         arbitrators. Each arbitrator will be experienced in conducting
         international arbitration in the communications industry. The decision
         resulting from the arbitration will be final and binding on the
         Parties. The Parties each agree that, except as required by applicable
         law or regulation, it will keep confidential the existence and outcome
         of any arbitration proceeding, as well as the contents thereof, and
         will require the arbitrators to adhere to the same obligation of
         confidentiality.

22.      LAW AND JURISDICTION

         This Agreement shall be governed by, and construed in accordance with,
         the laws of Norway.

23.      CONDITIONS TO CLOSING

23.1     This Agreement does not become binding upon the Parties unless a
         Financial Website Agreement is entered into between GLBN and
         Scandinavia Online AB and also that a Share Purchase Agreement is
         entered into between the shareholders of SOL B0rs AS and GLBN.

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               26

<PAGE>

IN WITNESS the duly authorised representatives of the Parties have executed this
Agreement the day and year first above written.

SCANDINAVIA ONLINE AS:                      GLOBALNETFINANCIAL.COM INC

By:                                         By:
   ---------------------------------           ---------------------------------
   Sverre Munch                                Dr. Katrina Tarizzo

By:
   ---------------------------------
   Birger Steen

SCANDINAVIA ONLINE A/S:

By:
   ---------------------------------
   Sverre Munch

By:
   ---------------------------------
   Birger Steen

                  FINANCIAL WEBSITE AGREEMENT NORWAY - DENMARK               27

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