Document:

EX-10.85

    Exhibit 10.85

     

     

    February
      13,2007

    

    

    SmarTire
      Systems Inc.

    13151
      Vanier Place, Suite 150

    Richmond,
      British Columbia

    V
      6V
      211

    

    

    Re:
      Registration rights on financial instruments held by TAIB Bank, B.S.C. ("TAIB"),
      and Certain Wealth, Ltd ("Certain Wealth").

    

    The
      following financial instruments are held by the entities identified
      below:

    

    
      	
              Date
                of Instrument

            	
              Financial
                Instrument

            	
              Amount

            	
              Held
                by

            
	
              October
                31, 2006

            	
              10%
                convertible debenture

            	
              $1.0
                million

            	
              TAIB

            
	
              October
                31, 2006

            	
              10%
                convertible debenture

            	
              $0.2
                million

            	
              Certain
                Wealth

            

    

    

    SmarTire
      Systems Inc. (the "Company") is required pursuant to the registration rights
      agreement with TAIB and Certain Wealth to use its best efforts to have a
      registration statement on Form SB-2 declared effective with the SEC on or before
      January 29, 2007. The registration statement was not declared effective on
      or
      before January 29, 2007.

    

    T
      AIB and
      Certain Wealth each hereby agree that an Event of Default as defined in the
      financial instruments above and all related agreements referenced therein (the
      "Financial Instruments") has not occurred as a result of the registration
      statement not being declared effective on or before January 29, 2007, and TAIB
      and Certain Wealth each hereby waive any and all of their rights under the
      applicable default provisions of the Financial Instruments and related
      agreements so long as the Company uses its best efforts to have such
      registration statement declared effective on or before March 31,
      2007.

    

    Very
      truly yours,

    

    TAIB
      Bank, B.S.C                                                  
      Certain Wealth Ltd

    

    /s/
      Larry
      Chaleff                                                    
/s/
      Larry Chaleff

    By:
      Larry
      Chaleff                                                  
By:
      Larry
      Chaleff

    Its:
      Authorized
      person                                         Its:
      Authorized personEX-10.86

    Exhibit 10.86

     

    

      February
        15, 2007

      

      

      

      SmarTire
        Systems Inc.

      13151
        Vanier Place, Suite 150

      Richmond,
        British Columbia

      V6V
        2J1

      

      Re:
        Convertible Preferred Stock Held by Cornell Capital Partners,
        L.P.

      

      On
        March
        22, 2005 SmarTire Systems Inc. (the “Company”) entered into an Investment
        Agreement with Cornell Capital Partners, L.P. (“Cornell”) pursuant to which the
        Company sold an aggregate of $4,000,000 of its Series A 5% convertible preferred
        stock, no par value.

      

      The
        Company was required pursuant to the terms of the Investment Agreement to
        repay
        Cornell the unconverted balance of $3,780,960 on December 22, 2006. Such
        payment
        was not made.

      

      Cornell
        hereby agrees that an event of default as defined in the Investment Agreement
        and all related agreements to which Cornell and the Company are a party has
        not
        occurred as a result of the failure by the Company to pay Cornell the amount
        due
        on December 22, 2006 and Cornell hereby agrees to extend the date for such
        payment from December 22, 2006 until March 31, 2007. 

      

      Very
        truly yours,

      

      Cornell
        Capital Partners, L.P.

       

       

      By:
        /s/ Jerry Eicke    

      Jerry
        Eicke  

      Managing
        PartnerFiled by Automated Filing Services Inc. (604) 609-0244 - Stockgroup Information Systems Inc. - Exhibit 10.1

 

 

 

PURCHASE AGREEMENT

 

 

 

 

 

TABLE OF CONTENTS

	1.
      	DEFINITIONS
      	2
      
	  	  	  
	1.2
      	Currency
      	9
      
	  	  	  
	2.
      	TCS
      SHARE TRANSACTIONS 	9
      
	  	  	  
	2.1
      	Purchase
      and Sale of Benelux Shares 	9
      
	2.2
      	Purchase
      and Sale of Iberian Shares 	9
      
	  	  	  
	3.
      	THE
      STOCKGROUP TRANSACTIONS 	9
      
	  	  	  
	3.1
      	Purchase
      and Sale 	9
      
	3.2
      	Assumption
      of Liabilities 	9
      
	3.3
      	Payment
      of Purchase Price 	9
      
	3.4
      	Additional
      Consideration 	10
      
	3.5
      	Allocation
      	10
      
	  	  	  
	4.
      	THE
      CLOSING 	11
      
	  	  	  
	  	  	  
	5.
      	DELIVERIES
      AT THE CLOSING 	11
      
	  	  	  
	5.1
      	Deliveries
      to Stockgroup Systems from TCS 	11
      
	5.2
      	Deliveries
      to Stockgroup Media from TCS 	12
      
	5.3
      	Deliveries
      to Stockgroup from TCS Holdings 	12
      
	5.4
      	Deliveries
      to TCS by Stockgroup 	12
      
	5.5
      	Deliveries
      by Stockgroup Systems to TCS 	13
      
	5.6
      	Deliveries
      by TCS to Stockgroup 	13
      
	  	  	  
	6.
      	REPRESENTATIONS
      AND WARRANTIES OF THE SELLERS 	13
      
	  	  	  
	6.1
      	Organization
      of the Sellers 	13
      
	6.2
      	Authorization
      of Transactions 	13
      
	6.3
      	Noncontravention
      	13
      
	6.4
      	Brokers'
      Fees 	14
      
	6.5
      	Title
      to Assets 	14
      
	6.6
      	Title
      to TCS Ltd. Shares, Benelux Shares and Iberian Shares 	14
      
	6.7
      	Title
      to Aether Shares 	14
      
	6.8
      	Title
      to Acquired Shares at Closing 	15
      
	6.9
      	Title
      to Benelux Shares and Iberian Shares at Closing 	15
      
	6.10
      	Title
      to Acquired Assets 	15
      
	6.11
      	Subsidiaries
      	15
      
	6.12
      	Financial
      Statements 	16
      
	6.13
      	Events
      Subsequent to Most Recent Fiscal Quarter End 	17
      
	6.14
      	Undisclosed
      Liabilities 	19
      

- ii -

	6.15
      	Legal
      Compliance 	19
      
	6.16
      	Tax
      Matters 	20
      
	6.17
      	Real
      Property 	21
      
	6.18
      	Intellectual
      Property 	23
      
	6.19
      	Sufficiency
      of Assets 	24
      
	6.20
      	Condition
      of Assets 	24
      
	6.21
      	Permits
      	24
      
	6.22
      	Contracts
      	24
      
	6.23
      	Notes
      and Accounts Receivable 	26
      
	6.24
      	Insurance
      	26
      
	6.25
      	Litigation
      	26
      
	6.26
      	Product
      Liability 	26
      
	6.27
      	Employees
      	27
      
	6.28
      	Employee
      Benefits 	27
      
	6.29
      	Guaranties
      	27
      
	6.30
      	Environmental,
      Health, and Safety Matters 	27
      
	6.31
      	Securities
      Representations 	27
      
	  	  	  
	7.
      	REPRESENTATIONS
      AND WARRANTIES OF STOCKGROUP 	28
      
	  	  	  
	7.1
      	Organization
      of Stockgroup 	28
      
	7.2
      	Authorization
      of Transaction 	29
      
	7.3
      	Noncontravention
      	29
      
	7.4
      	Brokers'
      Fees 	29
      
	7.5
      	Corporate
      	29
      
	7.6
      	Claims
      and Proceedings 	30
      
	7.7
      	Securities
      Act 	30
      
	7.8
      	Availability
      of Funds 	30
      
	7.9
      	No
      Other Representations 	30
      
	  	  	  
	8.
      	PRE-CLOSING
      COVENANTS 	30
      
	  	  	  
	8.1
      	General
      	30
      
	8.2
      	Operation
      of Business 	31
      
	8.3
      	Preservation
      of Business 	31
      
	8.4
      	Full
      Access 	31
      
	8.5
      	Notice
      of Developments 	31
      
	8.6
      	Exclusivity
      	32
      
	8.7
      	Leases
      	32
      
	8.8
      	Resale
      Restrictions 	32
      
	8.9
      	Legending
      of Purchaser Shares 	32
      
	8.10
      	Cash
      of Acquired Entities At Closing 	33
      
	  	  	  
	9.
      	CONDITIONS
      TO OBLIGATION TO CLOSE 	33
      
	  	  	  
	9.1
      	Conditions
      to Obligation of Stockgroup 	33
      
	9.2
      	Conditions
      to Obligation of the Sellers 	34
      

- iii -

	10.
      	SURVIVAL
      OF REPRESENTATIONS; INDEMNIFICATION 	35
      
	  	  	  
	10.1
      	Survival;
      Right to Indemnification 	35
      
	10.2
      	Sellers’
      Indemnity 	36
      
	10.3
      	Purchasers’
      Indemnity 	36
      
	10.4
      	Procedure
      for Indemnification – Third Party Claims. 	37
      
	10.5
      	Procedure
      for Indemnification – Other Claims 	38
      
	10.6
      	Time
      Limitations; Indemnification by Securityholders 	38
      
	10.7
      	Monetary
      Limitations 	39
      
	10.8
      	Losses
      Net of Insurance; Taxes 	39
      
	10.9
      	Purchase
      Price Adjustment 	39
      
	10.10
      	No
      Double Recovery 	39
      
	  	  	  
	11.
      	TAX
      LIABILITY 	40
      
	  	  	  
	11.1
      	Liability
      for Taxes 	40
      
	11.2
      	Post
      Closing Tax Matters 	41
      
	  	  	  
	12.
      	RECORDS/LITIGATION
      AND TAX MATTERS 	42
      
	  	  	  
	12.1
      	Records/Litigation
      	42
      
	  	  	  
	13.
      	TERMINATION
      	43
      
	  	  	  
	13.1
      	Termination
      of Agreement 	43
      
	  	  	  
	14.
      	POST-CLOSING
      MATTERS 	44
      
	  	  	  
	14.1
      	Piggy-Back
      Registration. 	44
      
	14.2
      	Payment
      for Preparation of Most Recent Financial Statements 	44
      
	14.3
      	Name
      Change 	44
      
	14.4
      	UK
      Lease 	44
      
	14.5
      	No
      Competition 	45
      
	  	  	  
	15.
      	MISCELLANEOUS
      	45
      
	  	  	  
	15.1
      	Press
      Releases and Public Announcements 	45
      
	15.2
      	No
      Third-Party Beneficiaries 	45
      
	15.3
      	Entire
      Agreement 	45
      
	15.4
      	Succession
      and Assignment 	45
      
	15.5
      	Counterparts
      	45
      
	15.6
      	Headings
      	46
      
	15.7
      	Notices
      	46
      
	15.8
      	Governing
      Law 	47
      
	15.9
      	Amendments
      and Waivers 	47
      
	15.10
      	Severability
      	47
      
	15.11
      	Expenses
      	47
      
	15.12
      	Construction
      	47
      

- iv -

	15.13
      	Disclosure
      Schedule 	48
      
	15.14
      	Incorporation
      of Schedules 	48
      
	15.15
      	Bulk
      Transfer Laws 	48
      

	Schedule A – List
      of Acquired Assets 
	Schedule B – List of Trademarks
      
	Schedule C – List
      of Fixed Assets 
	Schedule D – Notarial Deed of Transfer
      (Benelux) 
	Schedule E – Notarial
      Deed of Transfer (Iberian) 
	Schedule F – Owings Mills Sublease
      
	Schedule G – Allocation
      of the Purchase Price 
	Schedule H – Transition Services
      Agreement 
	Schedule I – Disclosure
      Schedule 
	Schedule J – Trademark Assignment
      
	Schedule K – Domain
      Name Assignment 
	Schedule L – Assignment and Assumption
      Agreement – General  
	Schedule M – General
      Assignment and Bill of Sale 
	Schedule N – Assignment and Assumption
      Agreement – Eight Black 
	Schedule O – Customer
      Lists 
	Schedule P – Accredited Investor
      Questionnaire  

PURCHASE AGREEMENT

THIS AGREEMENT entered into effective as of January 24,
2007.

AMONG:

  
    
      
        STOCKGROUP INFORMATION SYSTEMS INC., a Colorado
          corporation

        ("Stockgroup") 

      

    

  

AND:

  
    
      
        STOCKGROUP SYSTEMS LTD., a Nevada corporation

        ("Stockgroup Systems") 

      

    

  

AND:

  
    
      
        STOCKGROUP MEDIA INC., a British Columbia corporation

        ("Stockgroup Media") 

      

    

  

AND:

  
    
      
        TELECOMMUNICATION SYSTEMS, INC., a Maryland
          corporation

        ("TCS") 

      

    

  

AND:

  
    
      
        TELECOMMUNICATION SYSTEMS (HOLDINGS) LIMITED,
          a company incorporated in England and Wales, U.K.

        ("TCS Holdings")

      

    

  

WHEREAS:

                    This
Agreement contemplates a series of transactions in which Stockgroup, Stockgroup
Systems and Stockgroup Media will, in the aggregate, purchase the Business (as
hereinafter defined) from TCS and TCS Holdings through the acquisition of all of
the issued and outstanding securities of TeleCommunication Systems Limited,
TeleCommunication Systems Benelux BV, TeleCommunication Systems Iberian SA and
Aether Systems (UK) Limited, and the acquisition of specific assets of TCS.

NOW THEREFORE, in consideration of the premises and the mutual
promises herein made, and in consideration of the representations, warranties
and covenants herein contained, the parties hereto do hereby agree as
follows:

- 2 -

	1. 	
      DEFINITIONS

	 	 	 
		(a) 	
      “2007 Gross Profit” means the amount of Gross
      Profit derived by Stockgroup, Stockgroup Systems and Stockgroup Media from
      the operation of the Business for the period beginning on the Closing Date
      and ending December 31, 2007.

	 	 	 
		(b) 	
      "Accounts Receivable" means (i) all accounts
      receivable of the Acquired Entities; (ii) all accounts receivable under
      agreements or contracts for services or products provided by the Sellers
      in respect of the Acquired Assets and the Eight Black Agreement, and other
      rights to payment from customers of the Business and the full benefit of
      all security for such accounts or right to payment; (iii) all other
      accounts or notes receivable of the Acquired Entities or either of the
      Sellers in respect of the Acquired Assets and the Eight Black Agreement,
      or otherwise with respect to the Business and the full benefit of all
      security for such accounts or notes; (iv) costs and estimated earnings in
      excess of billings on uncompleted contracts with respect to the Business
      and (v) any claim, remedy or other right relating to any of the
      foregoing.

	 	 	 
		(c) 	
      "Acquired Assets" means all of the assets of TCS
      that are used in the Business and identified on the list of assets
      attached to this Agreement as Schedule “A”.

	 	 	 
		(d) 	
      “Acquired Entities” means TCS Ltd., Benelux,
      Iberian and Aether.

	 	 	 
		(e) 	
      “Acquired Shares” means all of the issued and
      outstanding common shares in the capital of TCS Ltd.

	 	 	 
		(f) 	
      “Accredited Investor” shall have the meaning set
      forth in Rule 501(a) of Regulation D promulgated under the Securities
      Act.

	 	 	 
		(g) 	
      “Additional Consideration” shall have the meaning
      set forth in Section 3.4, below.

	 	 	 
		(h) 	
      “Aether” means Aether Systems (UK) Limited, a
      company organized under the laws of the United Kingdom having Company No.
      01831719.

	 	 	 
		(i) 	
      “Aether Shares” means all of the issued and
      outstanding common shares in the capital of Aether.

	 	 	 
		(j) 	
      "Affiliate" means, with respect to any Person, any
      Person which directly or indirectly through stock ownership, other
      arrangements or otherwise either controls, or is controlled by or is under
      common control with, such Person.

	 	 	 
		(k) 	
      "Assumed Liabilities" means the liabilities listed
      on the November 30, 2006 Statement of Net Assets, which is attached at
      Section 6.12 of the Disclosure Schedule (Schedule I) to this
      Agreement.

- 3 -

	 	(l) 	
      "Basis" means any past or present fact, situation,
      circumstance, status, condition, activity, practice, plan, occurrence,
      event, incident, action, failure to act, or transaction that forms or
      could form the basis for any specified consequence.

	 	 	 
	 	(m) 	
      “Benelux” means TeleCommunication Systems Benelux
      BV, a company organized under the laws of the Netherlands (Company No.
      33297036).

	 	 	 
	 	(n) 	
      “Benelux Note” means a simple demand promissory
      note, without interest, to be made at Closing by TCS Ltd. and payable to
      the order of TCS Holdings in the amount of the Benelux Share
  Price.

	 	 	 
	 	(o) 	
      “Benelux Shares” means all of the issued and
      outstanding securities in the capital of Benelux.

	 	 	 
	 	(p) 	
      “Benelux Share Price” means the sum of One
      Thousand Dollars ($1,000).

	 	 	 
	 	(q) 	
      “Business” means the business of providing a
      portfolio of products and services that provide financial market data for
      wireless devices to consumers and enterprise that was owned and operated,
      in the aggregate, by TCS and the Acquired Entities up to the Closing Date
      and that will be owned and operated by Stockgroup Systems, Stockgroup
      Media and the Acquired Entities after the Closing Date.

	 	 	 
	 	(r) 	
      “Business Day” means any day that commercial banks
      are open for business in both Baltimore, Maryland and Vancouver, British
      Columbia.

	 	 	 
	 	(s) 	
      "Cash" means cash and cash equivalents (including
      marketable securities and short term investments) calculated in accordance
      with GAAP applied on a basis consistent with the preparation of the
      Financial Statements.

	 	 	 
	 	(t) 	
      "Claims" means any action, cause of action, suit,
      claim or counterclaim or legal, administrative or arbitral proceeding or
      investigation, whether or not the defense thereof, or any Liability in
      respect thereof, is covered by insurance and whether under consumer laws,
      equity or statute, including employment protection legislation.

	 	 	 
	 	(u) 	
      "Closing" has the meaning set forth in Section 4
      below.

	 	 	 
	 	(v) 	
      "Closing Date" has the meaning set forth in
      Section 4 below.

	 	 	 
	 	(w) 	
      "Disclosure Schedule" has the meaning set forth in
      Section 6 below.

	 	 	 
	 	(x) 	
      “Eight Black Agreement” means the MarketStream
      Distributor Agreement between the Eight Black Partnership Pty. Ltd. and
      TCS, effective as of March 4, 2006.

	 	 	 
	 	(y) 	
      "Employee Benefit Plan" means any employee benefit
      plan or similar program maintained by any of the Acquired Entities or
      maintained by TCS and made

- 4 -

	 		
      available to any employees providing, or who have in the
      past provided, services in or to the Business.

	 	 	 
	 	(z) 	
      "Environmental, Health and Safety Requirements"
      shall mean all federal, provincial, state and local statutes, regulations,
      ordinances and other provisions having the force or effect of law, all
      judicial and administrative orders and determinations, all contractual
      obligations and all common law concerning public health and safety, worker
      health and safety, and pollution or protection of the environment,
      including without limitation all those relating to the presence, use,
      production, generation, handling, transportation, treatment, storage,
      disposal, distribution, labelling, testing, processing, discharge,
      release, threatened release, control, or cleanup of any hazardous
      materials, substances or wastes, chemical substances or mixtures,
      pesticides, pollutants, contaminants, toxic chemicals, petroleum products
      or by-products, asbestos, polychlorinated biphenyls, noise or radiation,
      each as amended and as now or hereafter in effect.

	 	 	 
	 	(aa) 	
      “Excluded Liabilities” means any Liability that is
      not an Assumed Liability.

	 	 	 
	 	(bb) 	
      “Excluded Software” shall have the meaning set
      forth in Section 6.18 of the Disclosure Schedule.

	 	 	 
	 	(cc) 	
      "Financial Statement" has the meaning set forth in
      Section 6.12 below.

	 	 	 
	 	(dd) 	
      "Fiscal Year End Statements" has the meaning set
      forth in Section 6.12 below.

	 	 	 
	 	(ee) 	
      "GAAP" means U.S. generally accepted accounting
      principles as in effect from time to time.

	 	 	 
	 	(ff) 	
      “Gross Profit” means total revenue less costs for
      data feeds (Reuters), Imperial Software (IST), airtime, exchange fees,
      other direct costs of revenue and U.S. labor costs (collectively, “cost of
      revenue”), calculated in a manner substantially as calculated by TCS in
      its operation of the Business.

	 	 	 
	 	(gg) 	
      “Iberian” means TeleCommunication Systems Iberian
      SA, a company organized under the laws of Spain (CIF No.
  A81968760).

	 	 	 
	 	(hh) 	
      “Iberian Note” means a simple demand promissory
      note, without interest, to be made at Closing by TCS Ltd. and payable to
      the order of TCS Holdings in the amount of the Iberian Share
  Price.

	 	 	 
	 	(ii) 	
      “Iberian Shares” means all of the issued and
      outstanding common shares in the capital of Iberian.

	 	 	 
	 	(jj) 	
      “Iberian Share Price” means the sum of One
      Thousand Dollars ($1,000).

	 	 	 
	 	(kk) 	
      "Intellectual Property" means all of the (i)
      Know-how, (ii) Trademarks, (iii) copyrights, copyright registrations and
      applications for registration, (iv) Software Programs (other than Excluded
      Software) and (v) all other intellectual
property

- 5 -

rights whether registered or not, in
each case that are licensed to or owned by TCS and used in the Business as
currently operated or which are licensed to or owned by the Acquired Entities,
including:

	 	(i) 	
      all service marks, trade dress, logos, slogans, trade
      names, corporate names (including the name "Aether" in any form or
      combination with other words), Internet domain names and rights in
      telephone numbers, together with all translations, adaptations,
      derivations, and combinations thereof and including all goodwill
      associated therewith, and all applications, registrations, and renewals in
      connection therewith;

	 	 	 
	 	(ii) 	
      all copyrightable works, all copyrights, and all
      applications, registrations, and renewals in connection
  therewith;

	 	 	 
	 	(iii) 	
      all mask works and all applications, registrations, and
      renewals in connection therewith;

	 	 	 
	 	(iv) 	
      all trade secrets and confidential business information
      (including ideas, research and development, know-how, formulas,
      compositions, manufacturing and production processes and techniques,
      technical data, designs, drawings, specifications, customer and supplier
      lists, pricing and cost information, and business and marketing plans and
      proposals);

	 	 	 
	 	(v) 	
      all computer software (including source code, executable
      code, data, databases and related documentation);

	 	 	 
	 	(vi) 	
      all advertising and promotional materials;

	 	 	 
	 	(vii) 	
      all other proprietary rights; and

	 	 	 
	 	(viii) 	
      all copies and tangible embodiments thereof (in whatever
      form or medium),

	 		
      but excluding any patents or patent applications issued
      to or owned by TCS.

	 	 	 
	 	(ll) 	
      “Know-how” means any and all product
      specifications, processes, methods, product designs, plans, trade secrets,
      ideas, concepts, inventions, manufacturing, engineering and other manuals
      and drawings, physical and analytical, safety, quality control, technical
      information, data, research records, all promotional literature, customer
      and supplier lists and similar data and information, and any and all other
      confidential or proprietary technical and business information which are
      licensed to or owned by TCS and used in the Business as currently operated
      or which are licensed to or owned by any of the Acquired
  Entities.

	 	 	 
	 	(mm) 	
      "Knowledge" means actual knowledge after
      reasonable investigation.

- 6 -

	 	(nn) 	
      “Lease Consents” means, as to each of the Leases
      that prohibits assignment without the written consent of the landlord, a
      written consent for the assignment thereof in form and substance
      satisfactory to Stockgroup, acting reasonably.

	 	 	 
	 	(oo) 	
      "Leased Real Property" means all leasehold or
      subleasehold estates and other rights to use or occupy any land,
      buildings, structures, improvements, fixtures or other interest in real
      property held by any of the Sellers in connection with the operation of
      the Business or held by any of the Acquired Entities.

	 	 	 
	 	(pp) 	
      "Leases" means all leases, subleases, licenses,
      concessions and other agreements (written or oral), including all
      amendments, extensions, renewals, guaranties and other agreements with
      respect thereto, pursuant to which any of the Acquired Entities holds any
      Leased Real Property or pursuant to which either of the Sellers holds any
      Leased Real Property that is used, or intended to be used, in the conduct
      of the Business, including the right to all security deposits and other
      amounts and instruments deposited by or on behalf of any of the TCS
      Entities thereunder.

	 	 	 
	 	(qq) 	
      "Liability" means any liability (whether known or
      unknown, whether asserted or unasserted, whether absolute or contingent,
      whether accrued or unaccrued, whether liquidated or unliquidated, and
      whether due or to become due), including any liability for
Taxes.

	 	 	 
	 	(rr) 	
      "Losses" means any and all losses, demands,
      Claims, allegations, assertions, Liabilities, costs, damages, judgments,
      obligations (including corrective or remedial obligations), debts,
      settlements, assessments, deficiencies, Taxes, penalties, interest, fines
      or expenses, whether or not arising out of any Claims by or on behalf of a
      third party, including interest, penalties, reasonable attorney’s fees and
      expenses and all reasonable amounts paid in investigation, defense or
      settlement of any of the foregoing, but specifically excluding any
      consequential, special or punitive damages.

	 	 	 
	 	(ss) 	
      "Material" means, with respect to any matter, that
      a reasonable person would consider the matter significant under the
      circumstances.

	 	 	 
	 	(tt) 	
      "Material Adverse Effect" means a Material and
      adverse effect upon (i) the business, operations, assets, liabilities,
      conditions (financial or otherwise), operating results, prospects, or
      customer, supplier or employee relations of the Business or (ii) the
      ability of the Purchasers or Sellers to consummate the transactions
      contemplated hereby or perform their respective obligations
    hereunder.

	 	 	 
	 	(uu) 	
      "Most Recent Fiscal Year End" has the meaning set
      forth in Section 6.12(b) below.

	 	 	 
	 	(vv) 	
      "Ordinary Course of Business" means the ordinary
      course of business consistent with past custom and
  practice.

- 7 -

	 	(ww) 	 "Person" means an individual, a partnership,
        a corporation, an association, a joint stock company, a trust, a joint
        venture, an unincorporated organization, or a governmental entity (or
        any department, agency, or political subdivision thereof).

	 	 	 	 
	 	(xx) 	 “Purchase Price” means Five
        Hundred Seventy Thousand Dollars ($570,000) plus the assumption, by Stockgroup
        Systems, of the Assumed Liabities.

	 	 	 	 
	 	(yy) 	 "Purchaser Indemnitees" shall mean
        Stockgroup, Stockgroup Systems and Stockgroup Media, together with their
        respective Affiliates (including, after Closing, the Acquired Entities)
        and their respective Representatives.

	 	 	 	 
	 	(zz) 	 “Purchasers” means Stockgroup,
        Stockgroup Systems and Stockgroup Media.

	 	 	 	 
	 	(aaa) 	 “Purchaser Shares” means
        One Million Five Hundred Thousand (1,500,000) common shares in the capital
        of Stockgroup to be issued to TCS at a deemed price of $0.38 per share
        in payment of the Purchase Price.

	 	 	 	 
	 	(bbb) 	 “Pro-Rata Portion” means
        the following percentages of any Additional Consideration that may be
        earned and paid pursuant to Section 3.4 of this Agreement, below:

	 	 	 	 
	 		(i) 	 as to Stockgroup Systems, ninety-eight and two-tenths
        percent (98.20%),

	 		(ii) 	 as to Stockgroup Media, one and one-tenth percent (1.1%),
        and

	 		(iii) 	 as to Stockgroup, seven-tenths of one percent (0.7%).

	 	 	 	 
	 	(ccc) 	 "Real Property" means all land, together
        with all buildings, structures, improvements and fixtures located thereon,
        including all electrical, mechanical, plumbing and other building systems,
        fire protection, security and surveillance systems, telecommunications,
        computer, wiring and cable installations; utility installations, water
        distribution systems, and landscaping, together with all easements and
        other rights and interests appurtenant thereto (including air, oil, gas,
        mineral and water rights).

	 	 	 	 
	 	(ddd) 	 "Real Property Laws" has the meaning
        set forth in Section 6.17(e) below.

	 	 	 	 
	 	(eee) 	 “Representatives” shall mean
        a Person’s directors, officers, Affiliates, employees, attorneys,
        accountants, representatives, lenders, consultants, independent contractors,
        stockholders, members and other agents.

	 	 	 	 
	 	(fff) 	 "Securities Act" means the United States’
        Securities Act of 1933, as amended.

	 	 	 	 
	 	(ggg) 	 "Securities Exchange Act" means the
        United States’ Securities Exchange Act of 1934, as amended.

	 	 	 	 
	 	(hhh) 	 "Security Interest" means any mortgage,
        pledge, lien, encumbrance, charge, or other security interest, other than
        liens for Taxes not yet due and payable;

- 8 -

	 	(iii) 	
      "Seller Indemnitees" shall mean TCS and TCS
      Holdings, together with their respective Affiliates and their respective
      Representatives.

	 	(jjj) 	
      "Sellers" means TCS and TCS Holdings.

	 	 	 
	 	(kkk) 	
      “Straddle Period” means any Tax period beginning
      before and ending after the close of business on the Closing
  Date.

	 	(lll) 	
      "Tax" means any federal, state, provincial, local,
      or foreign income, gross receipts, license, payroll, employment, excise,
      severance, stamp, occupation, premium, windfall profits, environmental,
      customs duties, capital stock, franchise, profits, withholding, social
      security (or similar), unemployment, disability, real property, personal
      property, sales, use, transfer, registration, value added, alternative or
      add-on minimum, estimated, or other tax of any kind whatsoever, including
      any interest, penalty, or addition thereto, whether disputed or
  not.

		
      (mmm) 
	
      “Tax Assets” shall mean any refund, abatement or
      credit of, and all other assets comprising receivables or deferred assets
      or prepayments for, Taxes arising or resulting from the conduct of the
      Business or the ownership of the Acquired Assets, the TCS Ltd. Shares, the
      Benelux Shares, the Iberian Shares or the Aether Shares by the Sellers or
      any of their Affiliates, or the ownership of any of the Acquired Entities
      or any of their respective Affiliates for taxable periods or portions
      thereof ending on or before the Closing Date. 

	 	(nnn) 	
      “Tax Liabilities” shall mean all Liabilities for
      Taxes arising or resulting from the conduct of the Business or the
      ownership of the Acquired Assets by the Sellers (or either of them), any
      of the Acquired Entities or any of their respective Affiliates for taxable
      periods or portions thereof ending on or before the Closing
Date.

	 	 	 
	 	(ooo) 	
      "Tax Return" means any return, declaration,
      report, claim for refund, or information return or statement relating to
      Taxes, including any schedule or attachment thereto, and including any
      amendment thereof.

	 	 	 
	 	(ppp) 	
      “TCS Entities” means TCS, TCS Holdings and the
      Acquired Entities.

	 	 	 
	 	(qqq) 	
      “TCS Ltd.” means TeleCommunication Systems
      Limited, a company organized under the laws of England and Wales, U.K.
      (Company No. 03968661).

	 	 	 
	 	(rrr) 	
      “TCS Ltd. Shares” means all of the issued and
      outstanding common shares in the capital of TCS Ltd.

	 	 	 
	 	(sss) 	
      “Transition Services Agreement” means the
      agreement, substantially in the form of Schedule H to this Agreement,
      whereby TCS will provide certain services to the Purchasers.

	 	 	 
	 	(ttt) 	
      “Trademarks” means all of the Trademarks listed on
      Schedule B attached to this Agreement.

- 9 -

	 	(uuu) 	
      "TSX-V" means the TSX Venture Exchange, a Canadian
      stock exchange.

	 	 	 
	 	(vvv) 	
      “UK Lease” means the lease for Number 6 Dyers’
      Buildings in the City of London dated January 14,
1999.

	1.2 	
      Currency

	 	 
		
      In this Agreement, any reference to currency is to the
      lawful currency of the United States of America unless the context clearly
      requires otherwise.

	 	 
	2. 	
      TCS SHARE TRANSACTIONS

	 	 
	2.1 	
      Purchase and Sale of Benelux
  Shares

	 	 
		
      Prior to Closing TCS Ltd. shall purchase from TCS
      Holdings, and TCS Holdings shall sell, transfer, convey and deliver to TCS
      Ltd., all of the Benelux Shares for the Benelux Share Price. TCS Ltd.
      shall pay the Benelux Share Price by delivering the Benelux Note to TCS
      Holdings. Documentation of the transfer will conform to the requirements
      of Applicable Law and filing requirements, including the execution and
      delivery of a Notarial Deed of Transfer substantially in the form attached
      hereto as Schedule D.

	 	 
	2.2 	
      Purchase and Sale of Iberian
  Shares

	 	 
		
      Prior to Closing, TCS Ltd. shall purchase from TCS
      Holdings, and TCS Holdings shall sell, transfer, convey and deliver to TCS
      Ltd., all of the Iberian Shares for the Iberian Share Price. TCS Ltd.
      shall pay the Iberian Share Price by delivering the Iberian Note to TCS
      Holdings. Documentation of the transfer will conform to the requirements
      of Spanish law and filing requirements, including the execution and
      delivery of a Notarial Deed of Transfer substantially in the form attached
      hereto as Schedule E.

	 	 
	3. 	
      THE STOCKGROUP TRANSACTIONS

	 	 
	3.1 	
      Purchase and Sale

	 	 
		
      Subject to the terms and conditions of this Agreement,
      Stockgroup shall purchase from TCS, and TCS shall sell, assign, transfer,
      convey, and deliver to Stockgroup and its nominees Stockgroup Systems and
      Stockgroup Media as provided herein, all of the Acquired Assets, the Eight
      Black Agreement and the TCS Ltd. Shares at the Closing in exchange for the
      Purchase Price.

	 	 
	3.2 	
      Assumption of Liabilities

	 	 
		
      None of the Purchasers will assume or have any liability
      for, or responsibility with respect to, any Excluded Liability.

	 	 
	3.3 	
      Payment of Purchase Price

	 	 
		
      At the Closing,

- 10 -

	 	(i) 	
      Stockgroup shall issue to TCS the Purchase
  Shares;

	 	 	 
	 	(ii) 	
      Stockgroup Systems shall assume the Assumed
      Liabilities;

	 	 	 
	 	(iii) 	
      Stockgroup Systems shall deliver to Stockgroup a
      promissory note in the amount of Five Hundred Sixty One Thousand Dollars
      ($561,000) as consideration for the transfer to Stockgroup Systems, at the
      Closing, of the Acquired Assets; and

	 	 	 
	 	(iv) 	
      Stockgroup Media shall deliver to Stockgroup a promissory
      note in the amount of Six Thousand Dollars ($6,000) as consideration for
      the transfer to Stockgroup Media of the Eight Black
  Agreement.

	3.4 	
      Additional Consideration

	 	 	 
		(a) 	
      The Purchase Price may be increased by the Additional
      Consideration, which shall be determined by Stockgroup pursuant to Section
      3.4(b), below, within ninety (90) days after the first anniversary of the
      Closing Date.

	 	 	 
		(b) 	
      The Additional Consideration shall be equal to fifty
      percent (50%) of the amount, if any, by which 2007 Gross Profit exceeds
      $3,000,000, but excluding any portion of 2007 Gross Profit that is in
      excess of $4,000,000. For clarity, Additional Consideration cannot exceed
      $500,000. Stockgroup shall send notice to Sellers of the amount of 2007
      Gross Profit on or before April 1, 2008, which notice shall enclose
      payment of any Additional Consideration due, if any, pursuant to this
      Section 3.4. Additional Consideration shall be paid by each of Stockgroup,
      Stockgroup Systems and Stockgroup Media in respect of their respective
      Pro-Rata Portion.

	 	 	 
		(c) 	
      If TCS objects to the calculation of Additional
      Consideration by written notice to Stockgroup within ten days of receipt
      of Stockgroup’s notice of the amount of 2007 Gross Profit, TCS and
      Stockgroup shall attempt in good faith to agree upon the Additional
      Consideration amount by no later than May 1, 2008.

	 	 	 
	3.5 	
      Allocation

	 	 	 
		
      The Parties agree to allocate the Purchase Price for all
      purposes (including financial, accounting and Tax purposes) in accordance
      with the allocation schedule attached hereto as Schedule G. The
      Parties shall report and file all Tax Returns (including amended Tax
      Returns and claims for refund) consistent with the allocation shown on
      Schedule G and shall not voluntarily take a position contrary
      thereto or inconsistent therewith (including, without limitation, in any
      audits or examinations by any Governmental Authority or any other
      proceedings). The Parties shall cooperate in the filing of any forms
      (including “Form 8594” under Section 1060 of the Code) with
      respect to such allocation, including any amendments
  thereto.

- 11 -

	4. 	
      THE CLOSING

	 	 	 
		
      The closing of all of the transactions contemplated by
      this Agreement (the "Closing") shall take place beginning at 9:00
      a.m. Pacific Standard Time on the second business day following the
      satisfaction or waiver of all conditions to the obligations of the Parties
      to consummate those transactions (other than conditions with respect to
      actions the respective Parties will take at the Closing itself) or such
      other date as the Parties may mutually determine (the "Closing
      Date"); provided, however, that the Closing Date shall be no later
      than January 31, 2007. The Closing may take place by exchange of the
      appropriate solicitor's undertakings, which will involve each party's
      solicitors delivering to his or her counterpart all required consideration
      and documentation, to be held in trust and not released until all required
      closing deliveries have been made and all conditions to closing have been
      satisfied or waived by the party which has the benefit of such
      conditions.

	 	 	 
	5. 	
      DELIVERIES AT THE CLOSING

	 	 	 
	5.1 	
      Deliveries to Stockgroup Systems from
      TCS

	 	 	 
		
      At the Closing TCS will deliver the following to
      Stockgroup Systems:

	 	 	 
		(a) 	
      the various certificates, instruments, and documents
      referred to in, or that are necessary to remove the conditions specified
      in, Section 9.1 below;

	 	 	 
		(b) 	
      an executed counterpart of the Transition Services
      Agreement;

	 	 	 
		(c) 	
      an assignment of Trademarks in the form attached as
      Schedule J hereto and documents necessary to effect transfer of
      registrations in respect thereof to Stockgroup Systems;

	 	 	 
		(d) 	
      an assignment of the domain names set out in the form of
      assignment attached as Schedule K hereto and documents necessary to effect
      transfer of registrations in respect thereof to Stockgroup
  Systems;

	 	 	 
		(e) 	
      a general assignment and assumption agreement in a form
      attached as Schedule L hereto;

	 	 	 
		(f) 	
      a bill of sale in the form attached as Schedule M hereto
      in respect of the Acquired Assets;

	 	 	 
		(g) 	
      all necessary consents in respect of the sale, transfer,
      conveyance, and assignment of the Acquired Assets; and

	 	 	 
		(h) 	
      such other instruments of sale, transfer, conveyance, and
      assignment of the Acquired Assets as Stockgroup Systems and its counsel
      reasonably may request.

- 12 -

	5.2 	
      Deliveries to Stockgroup Media from
    TCS

	 	 	 
		
      At the Closing TCS will deliver the following to
      Stockgroup Media, as applicable:

	 	 	 
		(a) 	
      an assignment in respect of all of TCS's right, title and
      interest under the Eight Black Agreement in the form attached as Schedule
      N hereto; and

	 	 	 
		(b) 	
      all necessary consents in respect of the transfer of
      assignment of the Eight Black Agreement.

	 	 	 
	5.3 	
      Deliveries to Stockgroup from TCS
      Holdings

	 	 	 
		
      At the Closing TCS will deliver the following to
      Stockgroup:

	 	 	 
		(a) 	
      list of all of the employees of each of the Acquired
      Entities as at the Closing;

	 	 	 
		(b) 	
      share certificates representing all of the issued and
      outstanding shares of TCS Ltd. duly endorsed for transfer to
      Stockgroup;

	 	 	 
		(c) 	
      the share registers of each of Aether, Benelux and
      Iberian showing that TCS Ltd. is the sole registered holder of all the
      issued and outstanding shares in the capital of each of Aether, Benelux
      and Iberian;

	 	 	 
		(d) 	
      the minute books and records of all of the Acquired
      Entities;

	 	 	 
		(e) 	
      the originals (or copies where necessary) of all
      agreements, documents and deeds executed, entered into or granted by any
      of the Acquired Entities;

	 	 	 
		(f) 	
      the written resignation of each director and officer of
      each of the Acquired Entities effective immediately following the
      Closing.

	 	 	 
		(g) 	
      the Benelux Note, duly cancelled;

	 	 	 
		(h) 	
      the Iberian Note, duly cancelled; and

	 	 	 
		(i) 	
      such other instruments of sale, transfer, conveyance, and
      assignment as Stockgroup and its counsel reasonably may request.

	 	 	 
	5.4 	
      Deliveries to TCS by Stockgroup

	 	 	 
		
      At the Closing Stockgroup will deliver the following to
      TCS:

	 	 	 
		(a) 	
      an executed counterpart of the Transition Services
      Agreement;

	 	 	 
		(b) 	
      the various certificates, instruments, and documents
      referred to in, or that are necessary to remove the conditions specified
      in, Section 9.2 below;

	 	 	 
		(c) 	
      the Purchaser Shares.

- 13 -

	 	(d) 	
      Internal Revenue Service Form 8594 – Asset Acquisition
      Statement (to be provided after Closing and not later than August 15,
      2007)

	5.5 	
      Deliveries by Stockgroup Systems to
    TCS

	 	 
		
      At the Closing Stockgroup Systems will deliver to TCS an
      assumption of the Assumed Liabilities in the form attached as Schedule L
      hereto.

	 	 
	5.6 	
      Deliveries by TCS to Stockgroup

	 	 
		
      At the Closing TCS will deliver to Stockgroup a completed
      and executed Accredited Investor Questionnaire in the form attached hereto
      as Schedule P.

	 	 
	6. 	
      REPRESENTATIONS AND WARRANTIES OF THE
      SELLERS

	 	 
		
      Sellers do hereby jointly and severally represent and
      warrant to Purchasers that the statements contained in this Article 6 are
      correct and complete as of the date of this Agreement and will be correct
      and complete as of the Closing Date (as though made then and as though the
      Closing Date were substituted for the date of this Agreement throughout
      this Article 6), except as set forth in the disclosure schedule
      accompanying this Agreement and initialled by the Parties (the
      "Disclosure Schedule"). The Disclosure Schedule will be arranged in
      paragraphs corresponding to the lettered and numbered paragraphs contained
      in this Article 6.

	 	 
	6.1 	
      Organization of the Sellers

	 	 
		
      Each of the TCS Entities is a corporation duly
      incorporated, organized, validly existing and in good standing under the
      laws of the jurisdiction of its incorporation.

	 	 
	6.2 	
      Authorization of Transactions

	 	 
		
      Each of the Sellers has all necessary power and authority
      (including all necessary corporate power and authority) to execute and
      deliver this Agreement and to perform its respective obligations
      hereunder. Without limiting the generality of the foregoing, the board of
      directors of each of the Sellers, and TCS in its capacity as the sole
      shareholder of TCS Holdings, has duly authorized the execution, delivery,
      and performance of this Agreement by the Sellers. This Agreement
      constitutes the valid and legally binding obligation of each of the
      Sellers and is enforceable in accordance with its terms and conditions.
      The Board of Directors of each of Benelux and Iberian has duly consented
      to the transfer of the Benelux Shares and the Iberian Shares,
      respectively, to TCS Ltd. pursuant to the terms of this Agreement, and the
      Board of Directors of TCS Ltd. has duly authorized (a) the acquisition of
      the Benelux Shares and the Iberian Shares by TCS Ltd. and (b) the transfer
      of the TCS Ltd. Shares from TCS Holdings to Stockgroup.

	 	 
	6.3 	
      Noncontravention

	 	 
		
      Neither the execution and the delivery of this Agreement,
      nor the consummation of the transactions contemplated hereby,
  will:

- 14 -

	 	(a) 	
      violate any constitution, statute, regulation, rule,
      injunction, judgment, order, decree, ruling, charge, or other restriction
      of any government, governmental agency, or court to which any of the TCS
      Entities is subject or any provision of the charter or bylaws of any of
      them; or

	 	 	 
	 	(b) 	
      conflict with, result in a breach of, constitute a
      default under, result in the acceleration of, create in any party the
      right to accelerate, terminate, modify, or cancel, or require any notice
      under any agreement, contract, lease, license, instrument, or other
      arrangement to which any of the TCS Entities is a party or by which they
      (or any of them) are bound or to which any of their assets are subject (or
      result in the imposition of any Security Interest upon any of their assets
      except as set out in this Agreement). Except as set out in the Disclosure
      Schedule, none of the TCS Entities needs to give any notice to, make any
      filing with, or obtain any authorization, consent, or approval of any
      government or governmental agency in order for the Parties to consummate
      the transactions contemplated by this
Agreement.

	6.4 	
      Brokers' Fees

	 	 
		
      None of the TCS Entities has any Liability or obligation
      to pay any fees or commissions to any broker, finder, or agent with
      respect to the transactions contemplated by this Agreement except for
      Signal Hill Capital and/or Ridgecrest Capital Partners, whose fees and
      expenses will be paid by TCS.

	 	 
	6.5 	
      Title to Assets

	 	 
		
      Except as set forth in Section 6.5 of the Disclosure
      Schedule, each of the Acquired Entities has good and marketable title to,
      or a valid leasehold interest in, their assets, free and clear of all
      Security Interests or restriction on transfer except such restrictions on
      transfer of any common stock as may be imposed by applicable securities
      laws.

	 	 
	6.6 	
      Title to TCS Ltd. Shares, Benelux Shares and
      Iberian Shares

	 	 
		
      At the date of this Agreement, TCS Holdings has good and
      marketable title to the TCS Ltd. Shares, the Benelux Shares and the
      Iberian Shares, free and clear of all Security Interests or restrictions
      on transfer except such restrictions on transfer as may be imposed by
      applicable securities laws.

	 	 
	6.7 	
      Title to Aether Shares

	 	 
		
      At the date of this Agreement, TCS Ltd. has good and
      marketable title to the Aether Shares, free and clear of all Security
      Interests or restrictions on transfer except such restrictions on transfer
      as may be imposed by applicable securities
laws.

- 15 -

	6.8 	
      Title to Acquired Shares at
  Closing

	 	 	 
		
      At the date of Closing, TCS Holdings will have good and
      marketable title to the TCS Ltd. Shares, free and clear of all Security
      Interests or restrictions on transfer except such restrictions on transfer
      as may be imposed by applicable securities laws.

	 	 	 
	6.9 	
      Title to Benelux Shares and Iberian Shares at
      Closing

	 	 	 
		
      At the date of Closing, TCS Ltd will have good and
      marketable title to the Benelux Shares and the Iberian Shares, free and
      clear of all Security Interests or restrictions on transfer except such
      restrictions on transfer as may be imposed by applicable securities
      laws.

	 	 	 
	6.10 	
      Title to Acquired Assets

	 	 	 
		
      Except as set forth in Section 6.10 of the Disclosure
      Schedule, TCS has good and marketable title to, or a valid leasehold
      interest in, the Acquired Assets and the Eight Black Agreement, free and
      clear of all Security Interests or restriction on transfer.

	 	 	 
	6.11 	
      Subsidiaries

	 	 	 
		
      Section 6.11 of the Disclosure Schedule sets forth for
      each of TCS Holdings and the Acquired Entities:

	 	 	 
		(a) 	
      its name and jurisdiction of incorporation;

	 	 	 
		(b) 	
      the number of shares of authorized capital stock of each
      class of its capital stock;

	 	 	 
		(c) 	
      the number of issued and outstanding shares of each class
      of its capital stock, the names of the holders thereof, and the number of
      shares held by each such holder;

	 	 	 
		(d) 	
      the number of shares of its capital stock held in
      treasury; and

	 	 	 
		(e) 	
      the names and titles of its directors and
  officers.

	 	 	 
		
      Each of the TCS Entities is duly authorized to conduct
      business and is in good standing under the laws of each jurisdiction where
      such qualification is required. Each of the TCS Entities has all necessary
      corporate power and authority and all licenses, permits, and
      authorizations necessary to carry on the Business and to own and use the
      properties owned and used by it. TCS has delivered to Stockgroup correct
      and complete copies of the charter and bylaws of the Acquired Entities (as
      amended to date). All of the issued and outstanding shares of capital
      stock of each of the Acquired Entities have been duly authorized and are
      validly issued, fully paid and nonassessable. TCS holds of record and owns
      beneficially all of the issued and outstanding securities of TCS Holdings.
      TCS Holdings holds of record and owns beneficially all of the Acquired
      Shares. All of the Acquired Shares are free and clear of any restrictions
      on transfer (other than restrictions under applicable securities laws),
      Taxes, Security Interests, options, warrants, purchase rights, contracts,
      commitments, equities, claims, and demands. There are no
  outstanding

- 16 -

		
      or authorized options, warrants, purchase rights,
      subscription rights, conversion rights, exchange rights, or other
      contracts or commitments that could require TCS or any of the Acquired
      Entities to sell, transfer, or otherwise dispose of any capital stock of
      any of TCS Holdings and the Acquired Entities or that could require any of
      the Acquired Entities to issue, sell, or otherwise cause to become
      outstanding any of its own capital stock (other than as contemplated in
      this Agreement). There are no outstanding stock appreciation, phantom
      stock, profit participation, or similar rights with respect to any of the
      Acquired Entities. There are no voting trusts, proxies, or other
      agreements or understandings with respect to the voting of any capital
      stock of any of TCS Holdings and the Acquired Entities. The minute books
      (containing the records of meetings of the stockholders, the board of
      directors, and any committees of the board of directors), the stock
      certificate books, and the stock record books of the Acquired Entities are
      correct and complete. None of the Acquired Entities is in default under or
      in violation of any provision of its charter or bylaws. None of the
      Acquired Entities controls directly or indirectly or has any direct or
      indirect equity participation in any corporation, partnership, trust, or
      other business association except that TCS Ltd. owns all of the Aether
      Shares and will, at Closing, own all of the Benelux Shares and the Iberian
      Shares.

	 	 
	6.12 	
      Financial
Statements

	 	(a) 	
      Attached hereto as Section 6.12 of the Disclosure
      Schedule is the November 30, 2006 Statement of Net Assets prepared by TCS
      and relating to the Business (the "Financial Statement").

	 	 	 
	 	(b) 	
      Promptly after Closing, but in no event later than
      forty-five (45) days after the Closing, Seller will deliver to Purchaser
      audited consolidated balance sheets and consolidated statements of income,
      changes in stockholders' equity, and cash flow (the "Fiscal Year End
      Statements") as of and for the fiscal years ended December 31, 2005
      and 2006 (the "Most Recent Fiscal Year End") for the
    Business;

	 	 	 
	 	(c) 	
      Upon receipt, Seller shall use the Fiscal Year End
      Statements to prepare a statement of net assets for the Business as of the
      Most Recent Fiscal Year End (the “Closing Statement of Net
      Assets”). Stockgroup and TCS will reconcile the Closing Statement of
      Net Assets to the Fiscal Year End Statements. For the avoidance of doubt,
      the results of operations beginning January 1, 2007, shall be for the
      benefit of the Purchasers; and

	 	 	 
	 	(d) 	
      Within thirty (30) days of Closing, or such other date as
      TCS and Stockgroup mutually agree, TCS will deliver to Stockgroup a
      reconciliation of the cash arising out of operation of the Acquired Assets
      to account for receipts and disbursements occurring after December 31,
      2006. This reconciliation will be reconciled by Stockgroup and TCS to the
      Fiscal Year End Statements.

	 	 	 
	 	(e) 	
      The Fiscal Year End Statements (including the notes
      thereto) will be prepared in accordance with GAAP applied on a consistent
      basis throughout the periods covered thereby, present fairly the financial
      condition of the and the results of

- 17 -

operations of the Business for such
periods, are correct and complete, and are consistent with the books and records
of the Sellers and the Acquired Entities (which books and records are correct
and complete).

	6.13 	
      Events Subsequent to Most Recent Fiscal Quarter
      End

	 	 	 
		
      Since November 30, 2006 and except for matters described
      in or contemplated by this Agreement, there has not been any Material
      adverse change in the business, financial condition, operations, results
      of operations, or future prospects of the Business or any of the TCS
      Entities. Except as set out in Section 6.13 of the Disclosure Schedule and
      without limiting the generality of the foregoing, since the Most Recent
      Fiscal Quarter End:

	 	 	 
		(a) 	
      none of TCS Holdings or the Acquired Entities has sold,
      leased, transferred, or assigned any of its assets, tangible or
      intangible, other than in the Ordinary Course of Business;

	 	 	 
		(b) 	
      TCS has not sold, leased, transferred or assigned any of
      the assets used in the operation of the Business, tangible or intangible,
      other than in the Ordinary Course of Business;

	 	 	 
		(c) 	
      none of TCS Holdings or the Acquired Entities has entered
      into any new agreement (or series of related agreements) either involving
      more than $5,000 or that was outside the Ordinary Course of
    Business;

	 	 	 
		(d) 	
      TCS has not entered into any new agreement or series of
      related agreements with respect to the Business either involving more than
      $5,000 or that was outside the Ordinary Course of Business;

	 	 	 
		(e) 	
      no party (including any of the TCS Entities) has
      accelerated, terminated, modified, or cancelled any agreement, contract,
      lease, or license (or series of related agreements, contracts, leases, and
      licenses) involving more than $5,000 to which any of TCS Holdings and the
      Acquired Entities is a party or by which any of them is bound other than
      the modification to the agreement with Imperial Software Technology of
      which Stockgroup is already aware;

	 	 	 
		(f) 	
      no party (including any of the TCS Entities) has
      accelerated, terminated, modified, or cancelled any agreement, contract,
      lease, or license (or series of related agreements, contracts, leases, and
      licenses) pertaining to the Business, involving more than $5,000 and to
      which TCS is a party or by which it is bound;

	 	 	 
		(g) 	
      no Security Interest has been imposed upon any of the
      Acquired Assets or the Eight Black Agreement or the assets, tangible or
      intangible, of any of the Acquired Entities;

	 	 	 
		(h) 	
      none of the Acquired Entities has made any capital
      expenditure (or series of related capital expenditures) either involving
      more than $5,000 or outside the Ordinary Course of
  Business;

- 18 -

	 	(i) 	
      none of the Acquired Entities has made any capital
      investment in, any loan to, or any acquisition of the securities or assets
      of, any other Person (or series of related capital investments, loans, and
      acquisitions) either involving more than $5,000 or outside the Ordinary
      Course of Business;

	 	 	 
	 	(j) 	
      none of the Acquired Entities has issued any note, bond,
      or other debt security or created, incurred, assumed, or guaranteed any
      indebtedness for borrowed money or capitalized any lease obligation
      involving more than $5,000;

	 	 	 
	 	(k) 	
      none of the Acquired Entities has cancelled, compromised,
      waived, or released any right or claim (or series of related rights and
      claims) either involving more than $5,000 or outside the Ordinary Course
      of Business;

	 	 	 
	 	(l) 	
      none of the TCS Entities has granted any license or
      sublicense of any rights under or with respect to any Intellectual
      Property that is either used in the Business, constitutes an Acquired
      Asset or is an asset of any of the Acquired Entities;

	 	 	 
	 	(m) 	
      there has been no change made or authorized in the
      charter or bylaws of any of the Acquired Entities;

	 	 	 
	 	(n) 	
      none of the Acquired Entities has declared, set aside or
      paid any dividend or made any distribution with respect to its capital
      stock (whether in cash or in kind) or redeemed, purchased, or otherwise
      acquired any of its capital stock;

	 	 	 
	 	(o) 	
      none of the Acquired Entities has experienced any
      Material damage, destruction, or loss (whether or not covered by
      insurance) to its property;

	 	 	 
	 	(p) 	
      none of the Acquired Entities has made any loan to, or
      entered into any other transaction with, any of its directors, officers
      and employees outside the Ordinary Course of Business;

	 	 	 
	 	(q) 	
      none of the Acquired Entities has entered into any
      employment contract or collective bargaining agreement, written or oral,
      or modified the terms of any existing such contract or
agreement;

	 	 	 
	 	(r) 	
      none of the Acquired Entities has granted any increase in
      the base compensation of any of its directors, officers, and employees
      outside the Ordinary Course of Business;

	 	 	 
	 	(s) 	
      none of the Acquired Entities has adopted, amended,
      modified, or terminated any bonus, profit sharing, incentive, severance,
      or other plan, contract, or commitment for the benefit of any of its
      directors, officers, and employees (or taken any such action with respect
      to any other Employee Benefit Plan);

	 	 	 
	 	(t) 	
      none of the Acquired Entities has made any other change
      in employment terms for any of its directors, officers, and employees
      outside the Ordinary Course of Business;

- 19 -

	 	(u) 	
      none of the Acquired Entities has made or pledged to make
      any charitable or other capital contribution outside the Ordinary Course
      of Business;

	 	 	 
	 	(v) 	
      except as contemplated by the terms of this Agreement,
      there has not been any other Material occurrence, event, incident, action,
      failure to act, or transaction outside the Ordinary Course of Business
      involving any of the Acquired Entities; and

	 	 	 
	 	(w) 	
      none of the Acquired Entities has committed to any of the
      foregoing.

		
      Disclosure of any fact in respect of any subsection of
      this Section 6.13 in the Disclosure Schedule shall be deemed to constitute
      disclosure of that fact with respect to any other subsection of this
      Section 6.13, if a reasonable person would find such disclosure relevant
      to such subsection.

	 	 
	6.14 	
      Undisclosed Liabilities

	 	 
		
      None of the Acquired Entities has any Liability (and to
      Sellers’ Knowledge there is no Basis for any present or future action,
      suit, proceeding, hearing, investigation, charge, complaint, claim, or
      demand against any of them giving rise to any Liability), except
    for:

	 	(a) 	
      Liabilities set forth on the face of the November 30,
      2006 Statement of Net Assets (rather than in any notes thereto);

	 	 	 
	 	(b) 	
      Liabilities which have arisen after November 30, 2006 in
      the Ordinary Course of Business (none of which results from, arises out
      of, relates to, is in the nature of, or was caused by any breach of
      contract, breach of warranty, tort, infringement, or violation of law);
      and

	 	 	 
	 	(c) 	
      Liabilities set forth in Section 6.14 of the Disclosure
      Schedule.

	6.15 	
      Legal Compliance

	 	 	 
		(a) 	
      Since January 13, 2004, each of the Acquired Entities has
      complied in all Material respects with all applicable laws (including
      rules, regulations, codes, plans, injunctions, judgments, orders, decrees,
      rulings, and charges thereunder) of federal, provincial, state, local, and
      foreign governments (and all agencies thereof), and no action, suit,
      proceeding, hearing, investigation, charge, complaint, claim, demand, or
      notice has been filed or commenced against any of them alleging any
      failure so to comply.

	 	 	 
		(b) 	
      To Sellers’ Knowledge, prior to January 13, 2004, each of
      the Acquired Entities and their respective predecessors complied in all
      Material respects with all applicable laws (including rules, regulations,
      codes, plans, injunctions, judgments, orders, decrees, rulings, and
      charges thereunder) of federal, provincial, state, local, and foreign
      governments (and all agencies thereof), and no action, suit, proceeding,
      hearing, investigation, charge, complaint, claim, demand, or
  notice

- 20 -

	 		
      has been filed or commenced against any of them alleging
      any failure so to comply.

	 	 	 
	 	(c) 	
      Each of the Sellers, to the extent that they have engaged
      in the conduct of the Business or as a result of ownership of the Acquired
      Assets, has complied in all Material respects with all applicable laws
      (including rules, regulations, codes, plans, injunctions, judgments,
      orders, decrees, rulings, and charges thereunder) of federal, provincial,
      state, local, and foreign governments (and all agencies thereof), and no
      action, suit, proceeding, hearing, investigation, charge, complaint,
      claim, demand, or notice has been filed or commenced against any of them
      alleging any failure so to comply.

	6.16 	
      Tax Matters

	 	 	 	 
		
      Except as set out in Section 6.16 of the Disclosure
      Schedule:

	 	 	 	 
		(a) 	
      Each of the Acquired Entities has filed all Tax Returns
      that it was required to file. All such Tax Returns were correct and
      complete in all Material respects. All Taxes owed by any of the Acquired
      Entities (whether or not shown on any Tax Return) have been paid. None of
      the Acquired Entities currently is the beneficiary of any extension of
      time within which to file any Tax Return. Since January 13, 2004 (and, to
      any of the TCS Entities Knowledge, prior to January 13, 2004), no claim
      has ever been made by an authority in a jurisdiction where any of the
      Acquired Entities does not file Tax Returns that it is or may be subject
      to taxation by that jurisdiction. There are no Security Interests on any
      of the Acquired Assets that arose in connection with any failure (or
      alleged failure) to pay any Tax.

	 	 	 	 
		(b) 	
      Each of the Acquired Entities has withheld and paid all
      Taxes required to have been withheld and paid in connection with amounts
      paid or owing to any employee, independent contractor, creditor,
      stockholder, or other third party.

	 	 	 	 
		(c) 	
      Each of TCS and TCS Holdings has withheld and paid all
      Taxes required to have been withheld and paid in connection with amounts
      paid or owing to any employee, independent contractor, creditor,
      stockholder, or other third party pertaining to the Acquired Assets or
      otherwise pertaining to the Business.

	 	 	 	 
		(d) 	
      No officer (or employee responsible for Tax matters) of
      any of the Sellers expects any authority to assess any additional Taxes in
      respect of the Business or any of the Acquired Entities for any period for
      which Tax Returns have been filed. There is no dispute or claim concerning
      any Tax Liability of any of the Sellers in respect of the Acquired Assets
      or the Business or of any of the Acquired Entities either:

	 	 	 	 
			(i) 	
      claimed or raised by any authority in writing;
  or

	 	 	 	 
			(ii) 	
      as to which any of the officers (and employees
      responsible for Tax matters) of the Sellers has Knowledge based upon
      personal contact with

- 21 -

any agent of such authority. Section
6.16 of the Disclosure Schedule lists all federal, state, provincial, local, and
foreign income Tax Returns filed with respect to any of the Acquired Entities
for taxable periods ended on or after December 31, 2004, indicates those Tax
Returns that have been audited, and indicates those Tax Returns that currently
are the subject of audit. The Sellers have delivered to Stockgroup correct and
complete copies of all Tax Returns, examination reports, and statements of
deficiencies assessed against or agreed to by any of the Sellers since December
31, 2004.

	 	(e) 	
      None of the TCS Entities has waived any statute of
      limitations in respect of Taxes or agreed to any extension of time with
      respect to a Tax assessment or deficiency.

	 	 	 	 
	 	(f) 	
      At the Closing, TCS will provide to Stockgroup the
      following information with respect to each of the Acquired Entities, as
      applicable, as of the most recent practicable date:

	 	 	 	 
	 		(i) 	
      the net assets of each of the Acquired
Entities;

	 	 	 	 
	 		(ii) 	
      the investment of TCS Holdings in the TCS Ltd. Shares,
      the Benelux Shares and the Iberian Shares;

	 	 	 	 
	 			
      the amount of

	 	 	 	 
	 		(iii) 	
      the non capital loss carry forward, investment tax
      credit, the undepreciated capital cost and the pool of deductible research
      and development expenditures as at December 31,
2005.

	6.17 	
      Real Property

	 	 	 	 
		(a) 	
      Except for its interest in the Leased Real Property, none
      of the Acquired Entities owns any interest in any Real Property.

	 	 	 	 
		(b) 	
      Section 6.17 of the Disclosure Schedule sets forth the
      address of each parcel of Leased Real Property, and a true and complete
      list of all Leases for each such parcel of Leased Real Property (including
      the date and name of the parties to such Lease). Sellers have delivered to
      Stockgroup a true and complete copy of each such Lease document, and in
      the case of any oral Lease, a written summary of the material terms of
      such Lease. Except as set forth in Section 6.17 of the Disclosure
      Schedule, with respect to each of the Leases:

	 	 	 	 
			(i) 	
      such Lease is legal, valid, binding, enforceable and in
      full force and effect;

	 	 	 	 
			(ii) 	
      the transactions contemplated by this Agreement do not
      require the consent of any other party to such Lease, will not result in a
      breach of or default under such Lease, and will not otherwise cause such
      Lease to cease to be legal, valid, binding, enforceable and in full force
      and effect on identical terms following the
Closing;

- 22 -

	 	(iii) 	
      possession and quiet enjoyment of the Leased Real
      Property under such Lease has not been disturbed and there are no disputes
      with respect to such Lease;

	 	 	 
	 	(iv) 	
      none of the TCS Entities or, to the Sellers’ Knowledge,
      any other party to the Lease is in Material breach or default under such
      Lease and to the Sellers’ Knowledge no event has occurred or circumstance
      exists which, with the delivery of notice, the passage of time or both,
      would constitute such a breach or default, or permit the termination,
      modification or acceleration of rent under such Lease;

	 	 	 
	 	(v) 	
      no security deposit or portion thereof deposited with
      respect to such Lease has been applied in respect of a breach or default
      under such Lease which has not been redeposited in full;

	 	 	 
	 	(vi) 	
      none of the TCS Entities owe, or will based on the facts
      as they are at Closing owe in the future, any brokerage commissions or
      finder's fees with respect to such Lease;

	 	 	 
	 	(vii) 	
      the other party to such Lease is not an affiliate of, and
      otherwise does not have any economic interest in, any of the TCS
      Entities;

	 	 	 
	 	(viii) 	
      none of the TCS Entities has subleased, licensed or
      otherwise granted any Person the right to use or occupy such Leased Real
      Property or any portion thereof;

	 	 	 
	 	(ix) 	
      none of the TCS Entities has collaterally assigned or
      granted any other security interest in such Lease or any interest therein;
      and

	 	 	 
	 	(x) 	
      there are no liens or encumbrances on the estate or
      interest created by such Lease.

	 	(c) 	
      The Leased Real Property identified in the Disclosure
      Schedule comprises all of the Real Property used in the
Business.

	 	 	 
	 	(d) 	
      There is no condemnation, expropriation or other
      proceeding in eminent domain, pending or to Sellers’ Knowledge threatened,
      affecting any parcel of Leased Real Property or any portion thereof or
      interest therein. To the Sellers’ Knowledge, there is no injunction,
      decree, order, writ or judgment outstanding, nor any claims, litigation,
      administrative actions or similar proceedings, pending or threatened,
      relating to the lease, use or occupancy of the Leased Real Property or any
      portion thereof, or the operation of the Sellers' businesses as currently
      conducted thereon.

	 	 	 
	 	(e) 	
      To the Knowledge of the TCS Entities, the Leased Real
      Property is in compliance in all Material respects with all applicable
      building, zoning, subdivision, health and safety and other land use laws
      and all insurance requirements affecting the Leased Real Property
      (collectively, the "Real Property Laws"), and the current use and
      occupancy of the Leased Real Property and the operation of the
    Business

- 23 -

thereon does not violate any Real
Property Laws in any Material respect. None of the TCS Entities has received any
notice of violation of any Real Property Law and, to the Knowledge of the TCS
Entities, there is no basis for the issuance of any such notice or the taking of
any action for such violation. The TCS Entities have no Knowledge of any pending
or anticipated change in any Real Property Law that will have a Material Adverse
Effect on the lease, use or occupancy of any of the Leased Real Property or any
portion thereof in the continued operation of the Business as currently
conducted thereon.

	6.18 	
      Intellectual Property

	 	 	 
		(a) 	
      Section 6.18(a) of the Disclosure Schedule contains a
      true and complete list of any registrations (or applications for
      registration) for any trademarks, servicemarks, copyrights or domain names
      included in the Intellectual Property and the current status of the same.
      Except as set forth in Section 6.18(a) of the Disclosure Schedule, all of
      the foregoing are and remain valid and subsisting, with all fees, payments
      and filings due as of the Closing Date duly made. All of the foregoing
      are, to Seller’s Knowledge, enforceable.

	 	 	 
		(b) 	
      Section 6.18(b) of the Disclosure Schedule includes a
      true and complete list of all of Sellers’ and the Acquired Entities’
      computer software programs, products and services which are material to
      the uninterrupted or unimpeded operation of the Business, included in the
      Intellectual Property, other than so called “off-the-shelf” shrink-wrap
      computer software programs and Excluded Software.

	 	 	 
		(c) 	
      The Intellectual Property consists solely of items and
      rights which are: (i) owned by TCS or the Acquired Entities; or (ii) used
      by Seller or the Acquired Entities pursuant to a valid license,
      sublicense, consent or other similar written Contract.

	 	 	 
		(d) 	
      Except as set forth in Section 6.18(d) of the Disclosure
      Schedule, Sellers or the Acquired Entities own and possess the
      Intellectual Property free and clear of any and all
encumbrances.

	 	 	 
		(e) 	
      Except pursuant to Contracts set forth in Section 6.18(e)
      of the Disclosure Schedule, neither Sellers nor the Acquired Entities owe
      any royalties or other payments to third parties in respect of the
      Intellectual Property, and any royalties or other payments that have
      accrued prior to the Closing have been paid.

	 	 	 
		(f) 	
      Although Section 6.18 of the Disclosure Schedule is
      intended to be complete, to the extent any intellectual property rights or
      assets of the Sellers related to the Business are otherwise necessary for
      the ownership and operation of the Business as currently conducted, but
      are not properly itemized or do not appear on Section 6.18 of the
      Disclosure Schedule, then, unless this Agreement otherwise provides
      directly for Purchasers to provide for or obtain such rights or assets in
      a different way, the Sellers will deliver such further intellectual
      property rights or assets that it owns as may be necessary for the
      continued operation of the Business as operated by Sellers immediately
      prior to the Closing.

- 24 -

	6.19 	
      Sufficiency of Assets

	 	 	 
		
      Except as listed in Section 6.18(a) of the Disclosure
      Schedule, after the Closing, the Purchasers will collectively own or
      lease, either directly through the acquisition of the Acquired Assets and
      the Eight Black Agreement or indirectly through the acquisition of the
      Acquired Entities, all tangible and intangible assets necessary for the
      conduct of the Business as currently conducted by the TCS
  Entities.

	 	 	 
	6.20 	
      Condition of Assets

	 	 	 
		
      To Sellers’ Knowledge, each tangible asset comprising the
      Acquired Assets or owned by any of the Acquired Entities is free from
      Material defects (patent and latent), has been maintained in accordance
      with normal industry practice, is in good operating condition and repair
      (subject to normal wear and tear), and is suitable for the purposes for
      which it presently is used.

	 	 	 
	6.21 	
      PermitsEach of the Acquired Entities
      possesses all governmental approvals and permits necessary to conduct the
      Business as currently operated by the TCS Entities. No such government
      approval or permit has been suspended or cancelled nor is any such
      suspension or cancellation pending or, to Seller’s Knowledge, threatened.
      Except for permits the loss of which is not reasonably expected to have a
      Material Adverse Effect, none of these governmental authorizations or
      permits will terminate by reason of this transaction. None of the Sellers
      and the Acquired Entities is in conflict in any material respect with or
      in material default or violation of any of these governmental
      authorization or permits.

	 	 	 
	6.22 	
      Contracts

	 	 	 
		
      Section 6.22 of the Disclosure Schedule lists the
      following contracts and other agreements to which any of the Sellers and
      the Acquired Entities is a party (or otherwise to which any of the
      Purchasers must be a party after Closing in order to operate the Business
      as it is presently conducted):

	 	 	 
		(a) 	
      any agreement (or group of related agreements) for the
      lease of personal property to or from any Person providing for lease
      payments in excess of $10,000 per annum;

	 	 	 
		(b) 	
      any agreement (or group of related agreements) for the
      purchase or sale of raw materials, commodities, supplies, products, or
      other personal property, or for the furnishing or receipt of services, the
      performance of which will extend over a period of more than one year,
      result in a material loss to any of the Acquired Entities, or involve
      consideration in excess of $10,000;

	 	 	 
		(c) 	
      any agreement concerning a partnership or joint
      venture;

	 	 	 
		(d) 	
      any agreement (or group of related agreements) under
      which any of the Acquired Entities has created, incurred, assumed, or
      guaranteed any indebtedness for borrowed money, or any capitalized lease
      obligation, in excess of $10,000 or

- 25 -

	 		
      under which any of the TCS Entities has imposed a
      Security Interest on any of the Acquired Assets or the assets of any of
      the Acquired Entities, tangible or intangible;

	 	 	 
	 	(e) 	
      any profit sharing, stock option, stock purchase, stock
      appreciation, deferred compensation, severance, or other material plan or
      arrangement for the benefit of any employees engaged in the conduct of the
      Business and any current or former directors, officers, and employees of
      any of the Acquired Entities or to which any of them is otherwise a
      party;

	 	 	 
	 	(f) 	
      any collective bargaining agreement;

	 	 	 
	 	(g) 	
      any agreement for the employment by any of the Acquired
      Entities of any individual on a full-time, part-time, consulting, or other
      basis providing annual compensation in excess of $10,000 or providing
      severance benefits;

	 	 	 
	 	(h) 	
      any agreement under which any of the Acquired Entities
      has advanced or loaned any amount to any of its directors, officers, and
      employees outside the Ordinary Course of Business; and

	 	 	 
	 	(i) 	
      any agreement under which the consequences of a default
      or termination could, in the opinion of the officers and directors of the
      TCS Entities, have a Material Adverse Effect on the Business or on the
      financial condition, operations, results of operations, or future
      prospects of any of the Acquired Entities.

As of the Closing, the Sellers will
have delivered to Stockgroup a correct and complete copy of each written
agreement listed in Section 6.22 of the Disclosure Schedule (as amended to date)
and a written summary setting forth the terms and conditions of each Material
oral agreement referred to in Section 6.22 of the Disclosure Schedule. With
respect to each agreement to which any of the Acquired Entities is a party or
that will be assumed by any of the Purchasers at the Closing:

	 	(j) 	
      the agreement is legal, valid, binding, enforceable, and
      in full force and effect;

	 	 	 
	 	(k) 	
      to the Knowledge of the TCS Entities and subject to
      receipt of the required consents to assignment of the agreements listed in
      Section 6.22of the Disclosure Schedule, the agreement will continue to be
      legal, valid, binding, enforceable and in full force and effect on
      identical terms following the consummation of the transactions
      contemplated hereby;

	 	 	 
	 	(l) 	
      the TCS Entities are not and, to the Sellers’ Knowledge,
      no other party is in breach or default, and no event has occurred which
      with notice or lapse of time would constitute a breach or default, or
      permit termination, modification, or acceleration, under the
    agreement;

	 	 	 
	 	(m) 	
      To Sellers’ Knowledge, none of the parties to any
      agreement intends to terminate or alter the provisions thereof by reason
      of the transactions contemplated hereby; and

- 26 -

	 	(n) 	
      the TCS Entities have not and, to the Sellers’ Knowledge,
      no other party has repudiated any provision of the
  agreement.

	6.23 	
      Notes and Accounts Receivable

	 	 	 
		(a) 	
      All notes and accounts receivable of the Acquired
      Entities, and all notes and accounts receivable of the Sellers pertaining
      to the Business, the Acquired Assets or the Eight Black Agreement are
      reflected properly on their respective books and records, are valid
      receivables subject to no setoffs or counterclaims, are current and
      collectible subject only to the reserve for doubtful accounts set forth in
      the November 30, 2006 Statement of Net Assets (including any notes
      thereto) as adjusted for the passage of time through the Closing
    Date.

	 	 	 
		(b) 	
      All Accounts Receivable are valid obligations arising
      from transactions actually made or services actually performed in the
      Ordinary Course of Business. Unless paid prior to the Closing Date, the
      Accounts Receivable are or will as of the Closing Date be good and
      collectible. Neither the Sellers nor any of the Acquired Entities has
      received written notice of, nor to Sellers' Knowledge is there any
      contest, claim, defence or right of set-off related to any Accounts
      Receivable other than returns in the Ordinary Course of Business. Except
      for the Accounts Receivable, none of the Acquired Entities have extended
      any credit to any Person.

	 	 	 
	6.24 	
      Insurance

	 	 	 
		
      During the period of time that Sellers and their
      Affiliates have owned and operated the Business, the Business has been
      insured by way of adding the Acquired Entities as additional named
      insureds on one or more insurance policies maintained by TCS. There are no
      current claims with respect to the Business under any of these insurance
      policies.

	 	 	 
	6.25 	
      Litigation

	 	 	 
		
      None of the TCS Entities:

	 	 	 
		(a) 	
      is subject to any outstanding injunction, judgment,
      order, decree, ruling, or charge that affects the Business, the Acquired
      Assets, the Acquired Entities or the Eight Black Agreement; or

	 	 	 
		(b) 	
      is a party or, to the Sellers’ Knowledge, is threatened
      to be made a party to any action, suit, proceeding, hearing, or
      investigation of, in, or before any court or quasi-judicial or
      administrative agency of any federal, provincial, local, or foreign
      jurisdiction or before any arbitrator.

	 	 	 
	6.26 	
      Product Liability

	 	 	 
		
      None of the Sellers has any Liability (and to the
      Sellers' Knowledge there is no Basis for any present or future action,
      suit, proceeding, hearing, investigation, charge, complaint, claim, or
      demand against any of them giving rise to any Liability) arising out of
      any

- 27 -

		
      injury to individuals or property since January 13, 2004
      as a result of the ownership, possession, or use of any product
      manufactured, sold, leased, or delivered by any of the Acquired Entities
      or in respect of the Acquired Assets.

	 	 	 
	6.27 	
      Employees

	 	 	 
		
      To the Sellers’ Knowledge, no current employee of any of
      the Acquired Entities, and no person that was employed by any of the
      Acquired Entities within the 120 day period ending on the Closing Date,
      has filed any grievance, claim of unfair labour practices or otherwise
      made any Claim arising out of employment against any of the TCS
      Entities.

	 	 	 
	6.28 	
      Employee Benefits

	 	 	 
		(a) 	
      Since November 30, 2006, none of the Acquired Entities
      has agreed to pay any bonus or increase the income of any of its
      employees.

	 	 	 
		(b) 	
      Except as listed in Section 6.28 of the Disclosure
      Schedule, none of the TCS Entities maintains, contributes to or has an
      obligation to contribute to, or has any material Liability or potential
      Liability with respect to, any Employee Welfare Benefit Plan providing
      medical, health, or life insurance or other welfare-type benefits for
      current or future retired or terminated directors, officers or employees
      of any of the Acquired Entities (or any spouse or other dependent
      thereof).

	 	 	 
	6.29 	
      Guaranties

	 	 	 
		
      None of the Acquired Entities is a guarantor or otherwise
      is liable for any Liability or obligation (including indebtedness) of any
      other Person except for the obligations of TCS Ltd. pursuant to the
      Iberian Note and the Benelux Note.

	 	 	 
	6.30 	
      Environmental, Health, and Safety
      Matters

	 	 	 
		
      To Seller’s Knowledge, the Business is in compliance with
      the applicable Environmental Health and Safety Requirements, except for
      such non-compliance is reasonably expected not have a Material Adverse
      Effect. Neither Seller nor the Acquired Entities have received any written
      notice, report or other information regarding any actual or alleged
      violation of the Environmental Health and Safety Requirements, and any
      Liabilities or potential Liabilities, including any investigatory,
      remedial or corrective obligations, relating to the Business or its
      facilities arising under the Environmental Health and Safety Requirements,
      the subject of which is reasonably expected to have a Material Adverse
      Effect.

	 	 	 
	6.31 	
      Securities Representations

	 	 	 
		(a) 	
      TCS is an “Accredited Investor” in both Canada (as that
      term is defined in National Instrument 45-106, as adopted by the British
      Columbia Securities Commission) and the United States (as defined in Rule
      501 of Regulation D, promulgated under the Securities
  Act);

- 28 -

	 	(b) 	
      TCS is acquiring the Securities as principal for its own
      account, for investment purposes only, and not with a view to, or for,
      resale, distribution or fractionalisation thereof, in whole or in part,
      and no other person has a direct or indirect beneficial interest in such
      Securities;

	 	 	 
	 	(c) 	
      TCS is aware that an investment in Stockgroup is
      speculative and involves certain risks, including the possible loss of the
      entire investment and it has carefully read and considered the matters set
      forth under the heading “Risk Factors” appearing in the Company’s Form
      10-KSB and any other filings filed with the Securities and Exchange
      Commission;

	 	 	 
	 	(d) 	
      TCS is not an underwriter of, or dealer in, the common
      shares of Stockgroup, nor is TCS participating, pursuant to a contractual
      agreement or otherwise, in the distribution of the Purchaser
  Shares;

	 	 	 
	 	(e) 	
      TCS understands and agrees that none of the Purchaser
      Shares have been or will be registered under the Securities Act, or under
      any state securities or “blue sky” laws of any state of the United States,
      and, unless so registered, may not be offered or sold in the United States
      or, directly or indirectly, to U.S. Persons, as that term is defined in
      Regulation S promulgated under the Securities Act, except pursuant to an
      effective registration statement under the Securities Act or pursuant to
      an exemption from, or in a transaction not subject to, the registration
      requirements of the Securities Act and in each case only in accordance
      with applicable state securities laws; and

	 	 	 
	 	(f) 	
      TCS is not acquiring the Purchaser Shares as a result of
      any form of general solicitation or general advertising including
      advertisements, articles, notices or other communications published in any
      newspaper, magazine or similar media or broadcast over radio, or
      television, or any seminar or meeting whose attendees have been invited by
      general solicitation or general advertising.

	7. 	
      REPRESENTATIONS AND WARRANTIES OF
      STOCKGROUP

	 	 
		
      The Purchasers jointly and severally represent and
      warrant to each of the Sellers that the statements contained in this
      Article 7 are correct and complete as of the date of this Agreement and
      will be correct and complete as of the Closing Date (as though made then
      and as though the Closing Date were substituted for the date of this
      Agreement throughout this Article 7), except as set forth in the
      Disclosure Schedule. The Disclosure Schedule will be arranged in
      paragraphs corresponding to the lettered and numbered paragraphs contained
      in this Article 7.

	 	 
	7.1 	
      Organization of Stockgroup

	 	 
		
      Each of the Purchasers is a corporation duly
      incorporated, organized, validly existing, and in good standing under the
      laws of the jurisdiction of its incorporation.

- 29 -

	7.2 	
      Authorization of Transaction

	 	 	 
		
      Each of the Purchasers has all necessary power and
      authority (including all necessary corporate power and authority) to
      execute and deliver this Agreement and to perform its respective
      obligations hereunder. This Agreement constitutes the valid and legally
      binding obligation of each of the Purchasers, enforceable in accordance
      with its terms and conditions. Without limiting the generality of the
      foregoing, the Board of Directors of each of the Purchasers has duly
      authorized the execution, delivery and performance of this Agreement by
      the respective Purchasers.

	 	 	 
	7.3 	
      Noncontravention

	 	 	 
		
      Neither the execution and the delivery of this Agreement,
      nor the consummation of the transactions contemplated hereby
  will:

	 	 	 
		(a) 	
      violate any constitution, statute, regulation, rule,
      injunction, judgment, order, decree, ruling, charge, or other restriction
      of any government, governmental agency, or court to which any of the
      Purchasers is subject or any provision of its charter or bylaws;
  or

	 	 	 
		(b) 	
      conflict with, result in a breach of, constitute a
      default under, result in the acceleration of, create in any party the
      right to accelerate, terminate, modify, or cancel, or require any notice
      under any agreement, contract, lease, license, instrument, or other
      arrangement to which that Purchaser is a party or by which it is bound or
      to which any of its assets is subject (or result in the imposition of any
      Security Interest upon any of its assets). Except as contemplated in this
      Agreement or as otherwise required pursuant to Applicable Law or the
      policies of the TSX-V, none of the Purchasers need to give any notice to,
      make any filing with, or obtain any authorization, consent, or approval of
      any government or governmental agency in order for the Parties to
      consummate the transactions contemplated by this Agreement.

	 	 	 
	7.4 	
      Brokers' Fees

	 	 	 
		
      None of the Purchasers has any Liability or obligation to
      pay any fees or commissions to any broker, finder, or agent with respect
      to the transactions contemplated by this Agreement.

	 	 	 
	7.5 	
      Corporate

	 	 	 
		
      Stockgroup is a corporation duly incorporated, validly
      existing, and in good standing under the laws of the State of Colorado.
      Stockgroup Systems is a corporation duly incorporated, validly existing,
      and in good standing under the laws of the State of Nevada. Stockgroup
      Media is a corporation duly incorporated, validly existing, and in good
      standing under the laws of the Province of British Columbia. Each of the
      Purchasers is duly authorized to conduct business and is in good standing
      under the laws of each jurisdiction where such qualification is
      required.

- 30 -

	7.6 	
      Claims and Proceedings

	 	 
		
      There is no outstanding order of any governmental
      authority against or involving any of the Purchasers that could defeat,
      defer or negatively impact the consummation of the transactions
      contemplated by this Agreement, and (ii) there is no Claim pending, or, to
      the knowledge of Purchasers, threatened against Purchasers, involving this
      Agreement or the transactions contemplated hereby.

	 	 
	7.7 	
      Securities Act

	 	 
		
      The TCS Ltd. Shares are being acquired by Stockgroup for
      investment only and not with a view to any public distribution thereof,
      and Stockgroup shall not offer to sell or otherwise dispose of the TCS
      Ltd. Shares so acquired by it in violation of Applicable Law.

	 	 
	7.8 	
      Availability of Funds

	 	 
		
      Purchasers have sufficient cash available to enable them
      to consummate the transactions contemplated by this Agreement and
      consistent with the provisions of this Agreement and to satisfy the
      Assumed Liabilities as they become due in the ordinary course of the
      Business.

	 	 
	7.9 	
      No Other Representations

	 	 
		
      Purchasers acknowledge that Sellers makes no
      representation or warranty with respect to any projections, estimates or
      budgets delivered to or made available to Purchasers of future revenues,
      future results of operations (or any component thereof), future cash flows
      or future financial condition (or any component thereof) of the Business,
      the Acquired Entities or the Acquired Assets or the future business and
      future operations thereof or any other information or documents made
      available to Purchaser or its counsel, accountants or advisors with
      respect to the Business, the Acquired Entities or the Acquired Assets or
      the businesses or operations thereof.

	 	 
	8. 	
      PRE-CLOSING
COVENANTS

The Parties agree as follows with respect to the period between
the execution of this Agreement and the Closing.

	8.1 	
      General

	 	 
		
      Each of the Parties will use commercially reasonable
      efforts to take all action and to do all things necessary in order to
      consummate and make effective the transactions contemplated by this
      Agreement (including satisfaction, but not waiver, of the closing
      conditions set forth in Article 9 below). Promptly following execution of
      this Agreement, each Party shall, assisted by the other Parties as
      necessary, commence the process of applying for and obtaining all
      regulatory approvals to the transactions contemplated by this Agreement,
      and shall diligently prosecute the same to completion. Notices and
      Consents

- 31 -

		
      The Sellers will give any notices to third parties, and
      they will use commercially reasonable efforts to obtain any third party
      consents that the Purchasers reasonably may request in connection with the
      transactions contemplated in this Agreement or that are otherwise
      necessary to the consummation thereof.

	 	 	 
	8.2 	
      Operation of Business

	 	 	 
		
      The Sellers will not, and they will act to ensure that
      the Acquired Entities will not, engage in any practice, take any action,
      or enter into any transaction outside the Ordinary Course of Business
      between the date of this Agreement and the Closing. Without limiting the
      generality of the foregoing and except as expressly required by the terms
      of this Agreement, none of the Acquired Entities will, without
      Stockgroup’s prior written consent which Stockgroup will not unreasonably
      withhold:

	 	 	 
		(a) 	
      issue any capital stock;

	 	 	 
		(b) 	
      declare, set aside, or pay any dividend or make any
      distribution with respect to its capital stock or redeem, purchase, or
      otherwise acquire any of its capital stock;

	 	 	 
		(c) 	
      make or accept any loans, or accept any advances on any
      existing loans, nor will they or any of them grant any Security Interest
      in any of their assets without Stockgroup's prior written consent in each
      instance, which consent Stockgroup may grant or withhold at its sole
      discretion; or

	 	 	 
		(d) 	
      otherwise engage in any practice, take any action, or
      enter into any transaction of the sort described in Section 6.13
    above.

	 	 	 
	8.3 	
      Preservation of Business

	 	 	 
		
      The Sellers will keep the Business, the Acquired Assets
      and the Acquired Entities substantially intact, including the present
      operations, physical facilities, working conditions, and relationships
      with lessors, licensors, suppliers, customers, and employees.

	 	 	 
	8.4 	
      Full Access

	 	 	 
		
      The TCS Entities will permit representatives of
      Stockgroup to have full access during normal business hours to all
      premises, properties, personnel, books, records (including Tax records),
      contracts, and documents of or pertaining to each of the Acquired
      Entities, the Acquired Assets, the Eight Black Agreement or the
      Business.

	 	 	 
	8.5 	
      Notice of Developments

	 	 	 
		
      Each Party will give prompt written notice to the other
      Party of any material adverse development causing a breach of any of its
      own representations and warranties made in this Agreement. No disclosure
      by any Party pursuant to this Section 8.5, however, shall be deemed to
      amend or supplement the Disclosure Schedule or to prevent or cure any
      misrepresentation, breach of warranty, or breach of
  covenant.

- 32 -

	8.6 	
      Exclusivity

	 	 	 
		
      The Sellers will not:

	 	 	 
		(a) 	
      solicit, initiate, or encourage the submission of any
      proposal or offer from any Person relating to the acquisition of the
      Business, the capital stock or other voting securities of the Acquired
      Entities, the Acquired Assets or any substantial portion of the assets of
      the Acquired Entities (including any acquisition structured as a merger,
      consolidation, or share exchange); or

	 	 	 
		(b) 	
      participate in any discussions or negotiations regarding,
      furnish any information with respect to, assist or participate in, or
      facilitate in any other manner any effort or attempt by any Person to do
      or seek any of the foregoing. The Sellers will notify Stockgroup
      immediately if any Person makes any proposal, offer, inquiry, or contact
      with respect to any of the foregoing.

	 	 	 
	8.7 	
      Leases

	 	 	 
		
      None of the TCS Entities shall amend, modify, extend,
      renew or terminate any lease pertaining to the Business, nor shall any of
      the Acquired Entities enter into any new lease, sublease, license or other
      agreement for the use or occupancy of any real property, without the prior
      written consent of Stockgroup.

	 	 	 
	8.8 	
      Resale Restrictions

	 	 	 
		
      TCS acknowledges that any resale of the Purchaser Shares
      will be subject to resale restrictions contained in the securities
      legislation applicable to it or any proposed transferee. TCS acknowledges
      that the Purchaser Shares have not been registered under the Securities
      Act or the securities laws of any state of the United States or any
      Province of Canada. The Securities may not be offered or sold in the
      United States or any Province of Canada unless registered in accordance
      with Applicable Law, including the federal, state and provincial
      securities laws of the United States and Canada.

	 	 	 
	8.9 	
      Legending of Purchaser
  Shares

TCS hereby acknowledges that that upon
the issuance thereof, and until such time as the same is no longer required
under the applicable securities laws and regulations, the certificates
representing any of the Purchaser Shares will bear a U.S. securities law legend
in substantially the following form:

“THESE SECURITIES WERE ISSUED
PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”). ACCORDINGLY, NONE OF THE
SECURITIES TO WHICH THIS CERTIFICATE RELATES HAVE BEEN REGISTERED UNDER THE 1933
ACT, OR ANY U.S. STATE SECURITIES LAWS AND, UNLESS SO REGISTERED, NONE MAY BE
OFFERED OR SOLD IN THE UNITED STATES (AS DEFINED HEREIN) OR, DIRECTLY OR
INDIRECTLY, TO U.S. PERSONS (AS DEFINED HEREIN) EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT
SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 

- 33 -

1933 ACT AND IN EACH CASE ONLY IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

and a Canadian securities law legend in
substantially the following form:

“UNLESS PERMITTED UNDER SECURITIES
LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE
[INSERT THE DATE THAT IS 4 MONTHS AND A DAY AFTER THE DISTRIBUTION
DATE].”

TCS hereby acknowledges and agrees that
Stockgroup may make a notation on its records or give instructions to its
registrar and transfer agent in order to implement the restrictions on transfer
set forth and described in this Agreement.

	8.10 	
      Cash of Acquired Entities At
  Closing

	 	 	 
		
      TCS shall, immediately prior to Closing, cause each of
      the Acquired Entities to pay to it cash in an amount equal to the cash
      balance shown for each of them at December 31, 2006, on the Closing
      Statement of Net Assets. At Stockgroup's election, Stockgroup may elect to
      purchase all or any portion of this cash by written notice to TCS not less
      than 48 hours prior to Closing, in which event each of the Acquired
      Entities will retain the purchased cash in their respective bank accounts
      and at the Closing Stockgroup shall pay to TCS an amount equal to the
      purchased cash and TCS will cause the Acquired Entities to remit to it
      only an amount equal to the cash that was not purchased.

	 	 	 
	9. 	
      CONDITIONS TO OBLIGATION TO CLOSE

	 	 	 
	9.1 	
      Conditions to Obligation of
    Stockgroup

	 	 	 
		
      The obligation of Stockgroup to consummate the
      transactions contemplated in this Agreement, and to perform the
      obligations to be performed by it at or in connection with the Closing, is
      subject to satisfaction of the following conditions:

	 	 	 
		(a) 	
      the representations and warranties set forth in Article 6
      above shall be true and correct in all material respects at and as of the
      Closing Date and Stockgroup shall have received a certificate confirming
      the foregoing, signed for and on behalf of each of the Sellers and the
      Acquired Entities by senior officers or directors of the Sellers, in form
      and substance satisfactory to Stockgroup and its counsel;

	 	 	 
		(b) 	
      the Sellers shall have performed and complied with all of
      their covenants hereunder in all material respects through the Closing and
      Stockgroup shall have received a certificate confirming the foregoing,
      signed for and on behalf of each of the Sellers by senior officers or
      directors of the Sellers, in form and substance satisfactory to Stockgroup
      and its counsel acting reasonably;

	 	 	 
		(c) 	
      the Parties shall have received all necessary
      authorizations, consents and approvals Material to the completion of the
      transactions contemplated by this Agreement including, by way of example
      and not in limitation, the approval, if required, of the
  TSX-V;

- 34 -

	 	(d) 	
      no action, suit, or proceeding shall be pending or
      threatened before any court or quasi-judicial or administrative agency of
      any federal, provincial, local, or foreign jurisdiction or before any
      arbitrator wherein an unfavourable injunction, judgment, order, decree,
      ruling, or charge would:

	 	 	 	 
	 		(i) 	
      prevent consummation of any of the transactions
      contemplated by this Agreement;

	 	 	 	 
	 		(ii) 	
      cause any of the transactions contemplated by this
      Agreement to be rescinded following consummation;

	 	 	 	 
	 		(iii) 	
      affect adversely the right of Stockgroup to own the
      Acquired Entities, the right of Stockgroup Systems to own the Acquired
      Assets, the right of Stockgroup Media to own the Eight Black Agreement and
      the right of the Purchasers in general to operate the Business;
  or

	 	 	 	 
	 		(iv) 	
      affect adversely the right of any of the Acquired
      Entities to own its assets and to operate its businesses (and no such
      injunction, judgment, order, decree, ruling, or charge shall be in
      effect);

	 	 	 	 
	 	(e) 	
      the Acquired Entities shall have received the
      resignations, effective at the Closing, of each director and officer of
      any of them, free of any claim for severance, notice, wrongful dismissal
      and similar matters;

	 	 	 	 
	 	(f) 	
      the Sellers shall have obtained and delivered the Lease
      Consents to Stockgroup Systems;

	 	 	 	 
	 	(g) 	
      no damage or destruction or other change has occurred
      with respect to any of the Acquired Entities, the Acquired Assets or the
      Eight Black Agreement that, individually or in the aggregate, would have a
      Material Adverse Effect on the value thereof or the operation of the
      Business as currently conducted.

Stockgroup may waive any condition specified in this Section
9.1 if it executes a writing so stating at or prior to the Closing.

	9.2 	
      Conditions to Obligation of the
    Sellers

	 	 	 
		
      The obligation of the Sellers to consummate the
      transactions to be performed by them in connection with the Closing is
      subject to satisfaction of the following conditions:

	 	 	 
		(a) 	
      the representations and warranties set forth in Article 7
      above shall be true and correct in all material respects at and as of the
      Closing Date and the Sellers shall have received a certificate confirming
      the foregoing, signed for and on behalf of Stockgroup by its President, in
      form and substance satisfactory to TCS and its counsel acting
      reasonably;

	 	 	 
		(b) 	
      the Purchasers shall have performed and complied with all
      of their covenants hereunder in all material respects through the Closing
      and TCS shall have

- 35 -

	 		
      received a certificate confirming the foregoing, signed
      for and on behalf of the Purchasers by the President of Stockgroup, in
      form and substance satisfactory to the Sellers and their counsel acting
      reasonably;

	 	 	 	 
	 	(c) 	
      no action, suit, or proceeding shall be pending or
      threatened before any court or quasi-judicial or administrative agency of
      any federal, state, local, or foreign jurisdiction or before any
      arbitrator wherein an unfavourable injunction, judgment, order, decree,
      ruling, or charge would:

	 	 	 	 
	 		(i) 	
      prevent consummation of any of the transactions
      contemplated by this Agreement; or

	 	 	 	 
	 		(ii) 	
      cause any of the transactions contemplated by this
      Agreement to be rescinded following consummation (and no such injunction,
      judgment, order, decree, ruling, or charge shall be in effect);

	 	 	 	 
	 	(d) 	
      the Parties shall have received all necessary
      authorizations, consents, and approvals to the transactions contemplated
      in this Agreement including, by way of example and not in limitation, the
      approval, if required, of the TSX-V; and

		
      TCS may waive any condition specified in this Section 9.2
      if it executes a writing so stating at or prior to the Closing.

	 	 
	10. 	
      SURVIVAL OF REPRESENTATIONS;
      INDEMNIFICATION

	 	 
	10.1 	
      Survival; Right to
Indemnification

	 	 
		
      All of the representations, warranties, covenants,
      agreements and Closing certifications made by each of Sellers and
      Purchasers shall survive the execution and delivery of this Agreement and
      the Closing hereunder for a period of twelve (12) months following the
      Closing Date, except that (a) the representations and warranties contained
      in Sections 6.1, Section 6.2, Section 6.3, Section 6.4, Sections 6.5
      through Section 6.10, Section 6.11 and Sections 7.1 through 7.4, shall
      survive the Closing without time limit, (b) the representations and
      warranties contained in Section 6.16, Section 6.30, and Section 6.15 and
      Claims arising under Section 11 shall expire on the date that is sixty
      (60) days after the last day of the shortest applicable federal or state
      statute of limitations or if there is no applicable statue of limitations,
      without time limit, (c) Claims related to fraud shall survive without time
      limit, (d) Claims related to Section 10.2(c), (d) or (e) or Section
      10.3(c) or (d) shall survive without time limit, and (e) Claims with
      respect to covenants to be performed post-Closing shall survive for a
      period of twelve (12) months following the last date such applicable
      covenant required performance. Following the Closing, the exclusive remedy
      pursuant to this Agreement and the transactions contemplated hereby based
      upon the survival of such representations, warranties, covenants,
      agreements and Closing certifications will be the rights to
      indemnification, payment of Losses and other remedies provided by this
      Section 9 and Section 10, except for Claims related to fraud. There shall
      be no termination of any representations, warranties, covenants,
      agreements and Closing certifications as to which a Claim has been
      asserted prior to the termination of such survival
  period.

- 36 -

	10.2 	
      Sellers’ Indemnity

	 	 	 
		
      Sellers shall jointly and severally indemnify, defend and
      hold the Purchaser Indemnitees harmless from and against any Losses,
      subject to the limitations and provisions of this Section 10, asserted
      against, imposed upon, resulting to, required to be paid by, or incurred
      by any Purchaser Indemnities, directly or indirectly, in connection with,
      arising out of, or which would not have occurred but for:

	 	 	 
		(a) 	
      the breach of any representation or warranty made by
      Sellers in Section 6 of this Agreement (other than Section 6.16, which
      shall be covered by Section 11 of this Agreement), or in any certificate,
      document or agreement furnished pursuant hereto by Sellers or either of
      them;

	 	 	 
		(b) 	
      any breach or nonfulfillment of any covenant or agreement
      of Sellers or either of them under this Agreement (other than Section
      11.2, which shall be covered by Section 11.1) or under any certificate,
      document or agreement furnished pursuant hereto by Sellers or either of
      them;

	 	 	 
		(c) 	
      any Liability, including any Sellers’ failure to satisfy
      any of its obligations relating thereto, other than an Assumed
      Liability;

	 	 	 
		(d) 	
      Sellers’, an Acquired Entity’s or their respective
      Affiliates’ ownership, operation or use of the Acquired Assets, the TCS
      Ltd. Shares, the Benelux Shares, the Iberian Shares, the Aether Shares,
      the Business except to the extent such Losses are an Assumed Liability or
      relate to or result from, directly or indirectly, a breach of any
      representation or warranty of any of the Sellers made in this
      Agreement;

	 	 	 
		(e) 	
      Seller’s failure to comply with any bulk sales, bulk
      transfer or fraudulent transfer laws that may be applicable to this
      Agreement or the transactions contemplated hereby.

	 	 	 
	10.3 	
      Purchasers’ Indemnity

	 	 	 
		
      Purchaser shall indemnify, defend and hold Seller
      Indemnitees harmless from and against any Losses, subject to the
      limitations and provisions of this Section 10 asserted against, imposed
      upon, resulting to, required to be paid by, or incurred by any Seller
      Indemnitees, directly or indirectly, in connection with, arising out of,
      or which would not have occurred but for:

	 	 	 
		(a) 	
      the breach of any representation or warranty made by any
      of the Purchasers in this Agreement or in any certificate, document or
      agreement furnished pursuant hereto by a Purchaser;

	 	 	 
		(b) 	
      any breach or nonfulfillment by any of the Purchasers of
      any of their covenants or agreements under this Agreement (other than
      Section 11.2, which shall be covered by Section 11.1) or under any
      certificate, document or agreement furnished pursuant hereto by any of the
      Purchasers;

- 37 -

	 	(c) 	
      the Assumed Liabilities, including Purchasers’ (and,
      after the Closing, an Acquired Entity’s) failure to satisfy any of its
      obligations relating thereto, except to the extent such Losses relate to
      or result from, directly or indirectly, a breach of any representation or
      warranty of either of the Sellers in this Agreement; and

	 	 	 
	 	(d) 	
      the ownership, operation or use of the Acquired Assets,
      the Acquired Entities, the TCS Ltd. Shares, the Iberian Shares, the
      Benelux Shares, the Aether Shares and the Business after the Closing by
      any of the Purchasers (and after the Closing, an Acquired Entity) except
      for any of such matters for which any of the Sellers are otherwise liable
      under this Agreement.

	10.4 	
      Procedure for Indemnification – Third Party
      Claims.

	 	 	 
		(a) 	
      Promptly after receipt by any Party entitled to indemnity
      hereunder of the commencement of any Claim against such Party (the
      “Indemnified Party”), such Indemnified Party will, if a
      Claim is to be made against an indemnifying party under this Section 10,
      give notice to the party obligated to provide indemnification pursuant to
      this Section 10 (the “Indemnifying Party”) of the
      commencement of such Claim, specifying the factual basis of the Claim and
      the amount thereof in reasonable detail to the extent then known by such
      Indemnified Party, but the failure to notify the Indemnifying Party will
      not relieve the Indemnifying Party of any Liability that it may have to
      any Indemnified Party, except to the extent that the Indemnifying Party is
      actually prejudiced by the Indemnified Party’s failure to give such
      notice.

	 	 	 
		(b) 	
      If any third party Claim referred to in Section 10.4(a)
      is brought against an Indemnified Party, the Indemnified Party shall give
      notice to the Indemnifying Party of the commencement of such third party
      Claim within ten (10) Business Days after receipt by such Indemnified
      Party of notice of the third party Claim. The Indemnified Party shall
      deliver to the Indemnifying Party, within five (5) Business Days’ after
      receipt thereof, copies of all notices and documents (including court
      papers) received by the Indemnified Party relating to the Third Party
      Claim. Thereafter, the Indemnifying Party will be entitled, if it so
      elects by written notice to the Indemnified Party within ten (10) days of
      receiving the Indemnified Party’s notice of the Claim, to assume the
      defense thereof with counsel reasonably acceptable to the Indemnified
      Party. Notwithstanding the foregoing, (i) the Indemnified Party shall also
      have the right to employ its own counsel in any such case, but the fees
      and expenses of such counsel shall be at the expense of the Indemnified
      Party unless the Indemnified Party shall reasonably determine that there
      is a conflict of interest between the Indemnifying Party and the
      Indemnified Party with respect to such third party Claim or there are or
      may be legal defenses available to the Indemnified Party which are
      different from or in addition to those available to the Indemnifying Party
      or a difference of position or potential difference of position exists
      between the Indemnifying Party and the Indemnified Party that would make
      such separate representation advisable in the reasonable opinion of
      counsel to the Indemnified Party, in which case the reasonable fees and
      expenses of such counsel will be borne by the
  Indemnifying

- 38 -

	 		
      Party unless such representation is advisable solely as
      the result of activities of the Indemnified Party since the Closing for
      which no indemnity has been given by the Indemnifying Party, and (ii) the
      Indemnified Party shall not have any obligation to give any notice of any
      assertion of liability by a third party unless such assertion is in
      writing. With respect to any assertion of liability by a third party that
      results in a third party Claim, the parties hereto shall make available to
      each other all relevant information in their possession that is material
      to any such assertion.

	 	 	 
	 	(c) 	
      If the Indemnifying Party assumes the defense of a third
      party Claim, (i) no compromise or settlement of such third party Claim may
      be effected by the Indemnifying Party without the Indemnified Party’s
      consent unless (A) there is no finding or admission of any violation by
      any Indemnified Party of any Applicable Law or any violation by any
      Indemnified Person of the rights of any Person, and (B) the sole relief
      provided is monetary damages that are paid in full by the Indemnifying
      Party; (ii) the Indemnifying Party will have no Liability with respect to
      any compromise or settlement of such third party Claim effected without
      the Indemnifying Party’s consent (which shall not be unreasonably withheld
      or delayed); and (iii) the Indemnified Party will cooperate, at the
      expense of the Indemnifying Party, as the Indemnifying Party may
      reasonably request in investigating, defending and subject to clause (i)
      settling such third party Claim. If the Indemnifying Party elects not to
      defend a third party Claim, is not permitted to defend such third party
      Claim for a reason addressed in this Section 10.4 or fails to notify the
      Indemnified Party of its election as herein provided, the Indemnified
      Party may pay, compromise, settle or defend such third party Claim at the
      sole cost and expense of the Indemnifying Party if the Indemnifying Party
      is determined to be liable to the Indemnified Party hereunder. In any
      event, the Indemnified Party and the Indemnifying Party may participate,
      at their own expense, in the defense of any third party
  Claim.

	10.5 	
      Procedure for Indemnification – Other
      Claims

	 	 
		
      A Claim for indemnification for any matter not involving
      a third party Claim may be asserted by notice from the Indemnified Party
      to the Indemnifying Party. Such notice shall specify the factual basis of
      such Claim and the amount thereof in reasonable detail to the extent then
      known by the Indemnified Party.

	 	 
	10.6 	
      Time Limitations; Indemnification by
      Securityholders

	 	 
		
      If the Closing occurs, the Indemnifying Party shall have
      no Liability pursuant to Section 10.2 or Section 10.3 or of this Agreement
      unless an Indemnified Party gives notice to the Indemnifying Party of an
      actual Claim under Section 10.2 or Section 10.3 within the applicable
      timeframe, if any, specified in Section 10.1, which notice shall specify
      the factual basis of that Claim in reasonable detail to the extent then
      known by such Indemnified Party.

- 39 -

	10.7 	
      Monetary Limitations

	 	 
		
      Subject to the following sentence, the aggregate amount
      of each of Seller’s liability for Losses under Section 9.2(a) and
      Purchaser’s and TCS’s aggregate liability for Losses under Section 9.2(b)
      shall be limited in each case to one million five hundred thousand dollars
      ($1,500,000). The limitations set forth in this Section 10.7 will not
      apply to any Claims for indemnification in connection with, arising out
      of, or which would not have occurred but for fraud or covenants to be
      performed in whole or in part, post-Closing.

	 	 
	10.8 	
      Losses Net of Insurance; Taxes

	 	 
		
      The amount of any Losses for which indemnification is
      provided under this Section 10 or Section 11.1 shall be net of (i) any
      amounts recovered by the Indemnified Party or any of its Affiliates
      pursuant to any indemnification by or indemnification agreement with any
      third party, (ii) any insurance proceeds or other cash receipts or sources
      of reimbursement received from the Indemnified Party or any of its
      Affiliates as an offset against such Losses (each source named in clauses
      (i) and (ii), a “Collateral Source”), and (iii) an amount equal to
      the present value of the net Tax benefit or net Tax cost, if any,
      available to or taken by the Indemnified Party or any of its Affiliates
      attributable to such Loss. The parties acknowledge and agree that no right
      of subrogation shall accrue or inure to the benefit of any Collateral
      Source hereunder. The Indemnifying Party may require an Indemnified Party
      to assign the rights to seek recovery pursuant to the preceding sentence;
      provided, that the Indemnifying Party will then be responsible for
      pursuing such recovery at its own expense. If the amount to be netted
      under this Section 10.8 from any payment required under Section 10 is
      determined after payment by the Indemnifying Party of any amount otherwise
      required to be paid to an Indemnified Party pursuant to this Section 10,
      the Indemnified Party shall repay to the Indemnifying Party, promptly
      after such determination, any amount that the Indemnifying Party would not
      have had to pay pursuant to this Section 10 had such determination been
      made at the time of such payment.

	 	 
	10.9 	
      Purchase Price Adjustment

	 	 
		
      All indemnification payments under this Section 10 shall
      be deemed adjustments to the Purchase Price for federal Tax purposes
      unless otherwise required by a determination made by a Governmental
      Authority.

	 	 
	10.10 	
      No Double Recovery

	 	 
		
      Notwithstanding the fact that any Party may have the
      right to assert Claims for indemnification under or in respect of more
      than one provision of this Agreement or another agreement entered into in
      connection herewith in respect of any fact, event, condition or
      circumstance, no Party shall be entitled to recover the amount of any
      Losses suffered by such Party more than once under all such agreements in
      respect of such fact, event, condition or circumstance, and an
      Indemnifying Party shall not be liable for indemnification to the extent
      the Indemnified Party has otherwise been fully compensated on a dollar for
      dollar basis for such Losses.

- 40 -

	11. 	
      TAX LIABILITY

	 	 	 
	11.1 	
      Liability for Taxes.

	 	 	 
		(a) 	
      Purchasers shall be jointly and severally liable for, and
      shall indemnify Seller Indemnitees against, all Taxes arising or resulting
      from (i) the conduct of the Business by any of Purchasers or the Acquired
      Entities or the ownership of the Acquired Assets for taxable periods or
      portions thereof beginning after the Closing Date or (ii) any transaction
      relating to the Business or the Acquired Assets that Purchasers or any of
      its Affiliates causes to occur on or after the Closing Date and the
      assumption of the Assumed Liabilities by Purchaser pursuant to this
      Agreement.

	 	 	 
		(b) 	
      Sellers shall be jointly and severally liable for and
      they agree to indemnify, defend and hold Purchaser Indemnities harmless
      from (i) any Tax imposed on an Acquired Entity if and to the extent that
      such Tax arises in respect of a taxable period ended on or before the
      Closing (a “Tax Indemnity Period”), (ii) any Tax that constitutes a
      lien or Encumbrance on the Acquired Assets if and to the extent that such
      Tax arises in respect of a Tax Indemnity Period, (iii) any Tax or other
      Losses resulting from the inaccuracy or breach of any representation or
      warranty set forth in Section 6.16 or the breach of any covenants set
      forth in Section 11.2, and (iv) any costs and expenses (including, without
      limitation, reasonable expenses of investigation and attorneys’ fees and
      expenses) arising out of the imposition or assessment of any Tax, Losses
      or other costs described in clause (i), (ii) or (iii) (“Other
      Costs”), and the filing of any Returns for a taxable period ending on
      or before the Closing Date, including those incurred in the contest of
      good faith of any such imposition, assessment or assertion. Any Tax
      imposed as a result of the sale of the Business and the Purchased Assets
      to Purchaser and the assumption of the Assumed Liabilities by Purchaser
      pursuant to this Agreement shall be deemed to arise in respect of a Tax
      Indemnity Period.

	 	 	 
		(c) 	
      For purposes of subsections (a) and (b) of this Section
      11.1, whenever it is necessary to determine the Liability for Taxes for a
      Straddle Period, such Taxes shall be apportioned between Sellers and
      Purchasers (A) in the case of Taxes other than income, sales and use and
      withholding taxes, on a per diem basis and (B) in the case of income,
      sales and use and withholding taxes, as determined as though the Straddle
      Period consisted of two taxable years or periods, one which ended on the
      Closing Date and the other which began at the beginning of the day
      following the Closing Date.

	 	 	 
		(d) 	
      Purchasers shall pay to Sellers the amounts received by
      Purchasers or any of Purchasers’ Affiliates of any refund, abatement or
      credit of (A) Taxes which are attributable to the conduct of the Business
      or the ownership of the Acquired Assets on or prior to the Closing Date
      and (B) any other Tax Assets. In the case of any Straddle Period,
      Purchasers shall pay to Sellers the amount received by any of the
      Purchasers or any of their Affiliates of any refund, abatement or credit
      of

- 41 -

	 		
      Taxes that would have been made had the Taxable Period
      ended on the Closing Date.

	 	 	 
	 	(e) 	
      Any assessment or other Claim by a governmental authority
      seeking to enforce or collect a Tax, Losses or Other Costs described in
      Section 11.1 shall be subject to the provisions of Section 10.4, 10.5,
      10.6, 10.8 and 10.9 of this Agreement to the extent that Section 11.2 does
      not apply to such assessment or Claim.

	 	 	 
	 	(f) 	
      For the avoidance of doubt, notwithstanding any other
      contrary provisions of this Agreement, Sellers shall not be liable for any
      Taxes or related Losses to the extent such Taxes or related Losses are
      included in Assumed Liabilities.

	11.2 	
      Post Closing Tax Matters

	 	 	 
		(a) 	
      TCS will be responsible for the preparation and filing of
      all Tax Returns for all periods ending on or prior to the Closing Date as
      to which Tax Returns are due after the Closing Date (including the
      consolidated, unitary, and combined Tax Returns for TCS which include the
      operations of the Business for any period ending on or before the Closing
      Date). TCS shall permit Purchasers to review and comment on each such Tax
      Return described in the preceding sentence prior to filing. Seller will
      make all payments required with respect to any such Tax Return;
      provided, however, that Purchasers will indemnify Seller
      pursuant to Section 11.1(a), above, for any such Taxes that are Assumed
      Liabilities.

	 	 	 
		(b) 	
      Purchasers will be responsible for the preparation and
      filing of all Tax Returns for the Business for all periods ending after
      the Closing Date as to which Tax Returns are due after the Closing Date.
      Purchasers will also be responsible for the preparation and filing of all
      Tax Returns for the Business for the Straddle Period and Purchasers shall
      permit TCS to review and comment on each such Tax Return described in this
      sentence, prior to filing. Purchasers will make all payments required with
      respect to any such Tax Return; provided, however, that TCS
      will indemnify the Purchasers to the extent any payment the Purchasers are
      making is a Tax attributable to a taxable period ending on or before the
      Closing Date based on the principles in Section 11.1(c), except to the
      extent that such Taxes are Assumed Liabilities.

	 	 	 
		(c) 	
      With respect to the Acquired
Entities:

	 	(i) 	
      TCS will be responsible for the preparation and filing of
      all Tax Returns for all periods ending on or prior to the Closing Date as
      to which Tax Returns are due after the Closing Date. TCS shall permit
      Purchasers to review and approve the content of each such Tax Return
      described in the preceding sentence prior to filing. TCS will make all
      payments required with respect to any such Tax Return.

	 	 	 
	 	(ii) 	
      Purchasers will be responsible for the preparation and
      filing of all Tax Returns for all periods ending after the Closing Date as
      to which Tax Returns are due after the Closing Date including Tax Returns
      for the

- 42 -

	 		
      Straddle Period. Purchasers are not required to permit
      TCS to review and approve the content of each such Tax Return described in
      the preceding sentence prior to filing and Purchasers will only permit TCS
      to review and comment on such Tax Returns to the extent that they (a)
      affect Tax Returns of the Acquired Entities previously filed by the TCS,
      and (b) have an effect on TCS. Purchasers will make all payments required
      with respect to any such Tax Return and TCS shall not be liable for any
      Taxes with respect to such Tax Returns, except as otherwise provided in
      Section 11.1, above.

	 	 	 
	 	(iii) 	
      Except to the extent required by Applicable Laws,
      Purchasers shall not, without prior written consent of TCS, such consent
      not to be unreasonably withheld, amend any Tax Return filed by, or with
      respect to, the Acquired Entities for any taxable period, or portion
      thereof, ending before the Closing Date.

	 	 	 
	 	(iv) 	
      Except to the extent required by Applicable Laws, TCS
      shall not, without prior written consent of the Purchasers, such consent
      not to be unreasonably withheld, amend any Tax Return filed by, or with
      respect to, the Acquired Entities for any taxable period, or portion
      thereof, ending before the Closing Date.

	12. 	
      RECORDS/LITIGATION AND TAX
MATTERS

	 	 	 
	12.1 	
      Records/Litigation.

	 	 	 
		(a) 	
      For a period of five (5) years after the Closing Date, in
      the event and for so long as any Party or an Acquired Entity or any of
      their respective Affiliates is contesting or defending against any Claim
      in connection with (i) any transaction contemplated under this Agreement
      or (ii) any fact, situation, circumstance, status, condition, activity,
      practice, plan, occurrence, event, incident, action, failure to act, or
      transaction on or prior to the Closing Date involving any Party or an
      Acquired Entity or any of their respective Affiliates, the other Party or
      Acquired Entity, as the case may be, will cooperate with the contesting or
      defending party and its counsel in the contest or defense, make available
      its personnel, and provide such testimony and access to its books and
      records as shall be reasonably necessary in connection with the contest or
      defense, all at the sole cost and expense of the contesting or defending
      party (unless the contesting or defending party claims to be entitled to
      indemnification therefor under this Agreement.

	 	 	 
		(b) 	
      For a period of three (3) years after the Closing Date,
      each Party shall provide such assistance as any of the other Parties may
      from time to time reasonably request in connection with the preparation of
      Tax Returns required to be filed, any audit or other examination by any
      taxing authority, any judicial or administrative proceeding relating to
      Liability for Taxes, or any claim for refund in respect of such Taxes or
      in connection with any litigation and proceedings related to
  the

- 43 -

Business, including making available
documents, witnesses, employees for interviews, litigation preparation and
testimony. The requesting party shall reimburse the assisting party for the
out-of-pocket costs incurred by the assisting party.

	13. 	
      TERMINATION

	 	 	 	 
	13.1 	
      Termination of Agreement

	 	 	 	 
		
      Certain of the Parties may terminate this Agreement as
      provided below:

	 	 	 	 
		(a) 	
      Stockgroup and TCS may terminate this Agreement by mutual
      written consent at any time prior to the Closing;

	 	 	 	 
		(b) 	
      Stockgroup may terminate this Agreement by giving written
      notice to TCS at any time prior to the Closing:

	 	 	 	 
			(i) 	
      in the event that any of the Sellers or the Acquired
      Entities have breached any material representation, warranty, or covenant
      contained in this Agreement in any material respect, Stockgroup has
      notified TCS of the breach, and the breach has continued without cure for
      a period of 10 days after the notice of breach; or

	 	 	 	 
			(ii) 	
      if the Closing shall not have occurred on or before
      January 31, 2007, by reason of the failure of any condition precedent
      under Section 9.1 hereof (unless the failure results primarily from
      Stockgroup itself breaching any material representation, warranty, or
      covenant contained in this Agreement); and

	 	 	 	 
		(c) 	
      TCS may terminate this Agreement by giving written notice
      to Stockgroup at any time prior to the Closing:

	 	 	 	 
			(i) 	
      in the event Stockgroup has breached any material
      representation, warranty, or covenant contained in this Agreement in any
      material respect, TCS has notified Stockgroup of the breach, and the
      breach has continued without cure for a period of 10 days after the notice
      of breach; or

	 	 	 	 
			(ii) 	
      if the Closing shall not have occurred on or before
      January 31, 2007, by reason of the failure of any condition precedent
      under Section 9.2 hereof (unless the failure results primarily from the
      Sellers themselves breaching any material representation, warranty, or
      covenant contained in this Agreement).

- 44 -

	14. 	
      POST-CLOSING MATTERS

	 	 	 
	14.1 	
      Piggy-Back Registration.

	 	 	 
		(a) 	
      If at any time after Closing Stockgroup decides to file a
      registration statement under the Securities Act covering the distribution
      or sale of any of the common shares of Stockgroup other than the Purchaser
      Shares (other than a registration on Form S-8 or any similar form used for
      the purpose of registering equity securities to be issued solely in
      connection with stock option or other employee benefit plans), it shall
      forthwith give a written registration notice to TCS of such decision. TCS
      shall have the right to elect, by written notice to be given to Stockgroup
      not more than five (5) business days following receipt of the registration
      notice, to have the registration statement cover the sale of the Purchaser
      Shares by TCS.

	 	 	 
		(b) 	
      The piggyback registration rights granted pursuant to
      Section 14.1(a), above, shall be subject to the right of Stockgroup to
      include none or a lesser number of the Purchaser Shares for qualification
      under any registration statement at the direction (made reasonably) of any
      underwriter or agent engaged by Stockgroup in connection with the
      offering.

	 	 	 
		(c) 	
      The obligations of Stockgroup under Section 14.1(a),
      above, shall terminate and be of no further effect when the Purchaser
      Shares are otherwise eligible for resale pursuant to Rule 144 (or any
      successor provision) under the Securities Act;

	 	 	 
	14.2 	
      Payment for Preparation of Most Recent Financial
      Statements

	 	 	 
		
      The preparation and delivery of the Fiscal Year End
      Statements shall be at the sole cost and expense of TCS except to the
      extent of the incremental cost incurred to obtain an independent auditor’s
      report from the James Cowper firm covering information with respect to the
      Acquired Assets for inclusion in the Fiscal Year End Statements, which
      incremental cost shall be paid by Stockgroup.

	 	 	 
	14.3 	
      Name Change

	 	 	 
		
      At or within a reasonable period of time after the
      Closing, each of TCS Ltd., Benelux and Iberian will change its name to a
      name that does not include "TeleCommunication Systems".

	 	 	 
	14.4 	
      UK Lease

	 	 	 
		
      From and after Closing, TCS will pay monthly to TCS Ltd.
      a sum equal to fifty percent (50%) of all charges payable by TCS Ltd. to
      the landlord under the UK Lease, including monthly or annual rent,
      operating expenses or pass-throughs, Tax pass-throughs and other charges
      for which TCS Ltd is liable under the UK Lease. At the end of the current
      term of the UK Lease, TCS shall pay to TCS Ltd. a sum equal to fifty
      percent (50%) of any charges assessed by the UK landlord or otherwise
      incurred by TCS Ltd. with respect to the surrender of the premises,
      including any charges incurred to modify the
premises

- 45 -

		
      as required under the UK Lease to the extent that such
      charges are not otherwise covered by the amount of leasehold deposit held
      by the landlord.

	 	 
	14.5 	
      No Competition

	 	 
		
      Each of the Sellers shall not for a period of three (3)
      years from the Closing Date at any time, directly or indirectly, either
      individually or in partnership or jointly or in conjunction with any
      Person or Persons as investor, advisor, consultant, lender of funds,
      developer, agent, principal, shareholder, director, officer, employee,
      associate or in any other manner or capacity whatsoever carry on or be
      engaged in or be concerned with or interested in any business similar to
      or in competition with the Business anywhere in the World.

	 	 
	15. 	
      MISCELLANEOUS

	 	 
	15.1 	
      Press Releases and Public
    Announcements

	 	 
		
      No Party shall issue any press release or make any public
      announcement relating to the subject matter of this Agreement prior to the
      Closing without the prior written approval of the other Party; provided,
      however, that any Party may make any public disclosure it believes in good
      faith is required by applicable law or any listing or trading agreement
      concerning its publicly-traded securities (in which case the disclosing
      Party will use commercially reasonable efforts to advise the other Party
      prior to making the disclosure).

	 	 
	15.2 	
      No Third-Party Beneficiaries

	 	 
		
      This Agreement shall not confer any rights or remedies
      upon any Person other than the Parties. None of the Parties may assign
      this Agreement to any Person.

	 	 
	15.3 	
      Entire Agreement

	 	 
		
      This Agreement (including the Schedules and the documents
      referred to herein) constitutes the entire agreement between the Parties
      and supersedes any prior understandings, agreements, or representations by
      or between the Parties, written or oral, to the extent they relate in any
      way to the subject matter hereof.

	 	 
	15.4 	
      Succession and Assignment

	 	 
		
      This Agreement shall be binding upon and inure to the
      benefit of the Parties named herein and their respective successors and
      permitted assigns. No Party may assign either this Agreement or any of its
      rights, interests, or obligations hereunder without the prior written
      approval of the other Party.

	 	 
	15.5 	
      Counterparts

	 	 
		
      This Agreement may be executed and delivered in one or
      more counterparts, including counterparts delivered by facsimile, portable
      document format (known by the acronym ‘.pdf’) or otherwise, each of which
      shall be deemed an original document and each
of

- 46 -

		
      which, taken together, shall constitute one and the same
      instrument. A party providing its signature by facsimile, portable
      document format or otherwise shall promptly forward to the other party the
      original of the executed copy of this Agreement that was so
    delivered.

	 	 
	15.6 	
      Headings

	 	 
		
      The section headings contained in this Agreement are
      inserted for convenience only and shall not affect in any way the meaning
      or interpretation of this Agreement.

	 	 
	15.7 	
      Notices

	 	 
		
      All notices, requests, demands, claims, and other
      communications hereunder will be in writing. Any notice, request, demand,
      claim, or other communication hereunder shall be deemed duly given if it
      is hand delivered and addressed to the intended recipient as set forth
      below:

	 	 
		
      If to the Sellers:

TeleCommunication Systems, Inc.

275 West Street 
Annapolis, Maryland 21401

Attention:          
Mr. Thomas Brandt, Chief Financial Officer 
Fax: (410) 280-1048

Copy to:

Bruce White, Esq.

TeleCommunication Systems, Inc. 
275 West Street 
Annapolis, Maryland
21401

If to Stockgroup:

Stockgroup Information Systems Inc.

Suite 500, 750 West Pender Street 
Vancouver, BC V6C 2T7

Attention:          
Mr. Marcus New, President 
Fax: (604) 331 1194

Copy to:

Clark Wilson LLP 
800-885 West
Georgia Street 
Vancouver, British Columbia V6C 3H1

Attention:          
Ethan Minsky

- 47 -

		
      Any Party may send any notice, request, demand, claim, or
      other communication hereunder to the intended recipient at the address set
      forth above using any other means (including personal delivery, expedited
      courier, messenger service, telecopy, telex, ordinary mail, or electronic
      mail), but no such notice, request, demand, claim, or other communication
      shall be deemed to have been duly given unless and until it actually is
      received by the intended recipient. Any Party may change the address to
      which notices, requests, demands, claims, and other communications
      hereunder are to be delivered by giving the other Party notice in the
      manner herein set forth.

	 	 
	15.8 	
      Governing Law

	 	 
		
      This Agreement shall be governed by and construed in
      accordance with the domestic laws of the State of New York without giving
      effect to any choice or conflict of law provision or rule (whether of the
      State of New York or any other jurisdiction) that would cause the
      application of the laws of any jurisdiction other than the State of New
      York.

	 	 
	15.9 	
      Amendments and Waivers

	 	 
		
      No amendment of any provision of this Agreement shall be
      valid unless the same shall be in writing and signed by the Purchasers and
      the Sellers. No waiver by any Party of any default, misrepresentation, or
      breach of warranty or covenant hereunder, whether intentional or not,
      shall be deemed to extend to any prior or subsequent default,
      misrepresentation, or breach of warranty or covenant hereunder or affect
      in any way any rights arising by virtue of any prior or subsequent such
      occurrence.

	 	 
	15.10 	
      Severability

	 	 
		
      Any term or provision of this Agreement that is invalid
      or unenforceable in any situation in any jurisdiction shall not affect the
      validity or enforceability of the remaining terms and provisions hereof or
      the validity or enforceability of the offending term or provision in any
      other situation or in any other jurisdiction.

	 	 
	15.11 	
      Expenses

	 	 
		
      Each of the Purchasers and the Sellers will bear its own
      costs and expenses (including legal fees and expenses) incurred in
      connection with this Agreement and the transactions contemplated
      hereby.

	 	 
	15.12 	
      Construction

	 	 
		
      The Parties have participated jointly in the negotiation
      and drafting of this Agreement. In the event an ambiguity or question of
      intent or interpretation arises, this Agreement shall be construed as if
      drafted jointly by the Parties and no presumption or burden of proof shall
      arise favouring or disfavouring any Party by virtue of the authorship of
      any of the provisions of this Agreement. Any reference to any federal,
      state, provincial, local, or foreign statute or law shall be deemed also
      to refer to all rules and regulations promulgated thereunder, unless the
      context requires otherwise. The word "including" shall mean including
      without limitation. Nothing in the Disclosure Schedule shall
  be

- 48 -

		
      deemed adequate to disclose an exception to a
      representation or warranty made herein unless the Disclosure Schedule
      identifies the exception with particularity and describes, where required,
      the relevant facts in detail. Without limiting the generality of the
      foregoing, the mere listing (or inclusion of a copy) of a document or
      other item shall not be deemed adequate to disclose an exception to a
      representation or warranty made herein (unless the representation or
      warranty has to do with the existence of the document or other item itself
      and requires such listing). The Parties intend that each representation,
      warranty, and covenant contained herein shall have independent
      significance. If any Party has breached any representation, warranty, or
      covenant contained herein in any respect, the fact that there exists
      another representation, warranty, or covenant relating to the same subject
      matter (regardless of the relative levels of specificity) which the Party
      has not breached shall not detract from or mitigate the fact that the
      Party is in breach of the first representation, warranty, or
    covenant.

	 	 
	15.13 	
      Disclosure Schedule

	 	 
		
      The headings contained in the Disclosure Schedule are for
      convenience of reference only and shall not be deemed to modify or
      influence the interpretation of the information contained in the
      Disclosure Schedule or the Agreement. Disclosure of any fact or item in
      any Section of the Disclosure Schedule hereto referenced by a particular
      Section in this Agreement shall be deemed to have been disclosed with
      respect to every other Section of this Agreement if such disclosure would
      permit a reasonable person to find such disclosure relevant to such other
      Sections.

	 	 
	15.14 	
      Incorporation of Schedules

	 	 
		
      The Schedules identified in this Agreement are
      incorporated herein by reference and made a part hereof.

	 	 
	15.15 	
      Bulk Transfer Laws

	 	 
		
      TCS will comply with any applicable bulk transfer
      laws.

[SIGNATURES APPEAR ON THE FOLLOWING PAGE]

- 49 -

IN WITNESS WHEREOF, the Parties hereto have executed this
Agreement as of the date first above written.

STOCKGROUP INFORMATION SYSTEMS INC.

Per: 
_______________________________________
        
Authorized Signatory

STOCKGROUP SYSTEMS LTD.

Per: 
_______________________________________
        
Authorized Signatory

STOCKGROUP MEDIA INC.

Per: 
_______________________________________
        
Authorized Signatory

TELECOMMUNICATION SYSTEMS, INC.

Per: 
_______________________________________
        
Authorized Signatory

TELECOMMUNICATION SYSTEMS (HOLDINGS) LIMITED

Per:  _______________________________________

           Authorized Signatory

SCHEDULE A 

  List of Acquired Assets 

US Assets

  	US Customer Lists 	See Schedule O (Parts A, B, C, D) 
	Eight Black MarketStream Distribution Agreement 
	Section 6.22 (Contracts) of Schedule I 

        (Disclosure Schedule) 
	Reuters Development License & Support Agreement 
	Section 6.22 (Contracts) of Schedule I 

        (Disclosure Schedule) 
	USA Mobility Resell Agreement 
	Section 6.22 (Contracts) of Schedule I 

        (Disclosure Schedule) 
	Vendor agreements as identified 
	Section 6.22 (Contracts) of Schedule I 

        (Disclosure Schedule) 
	Fixed Assets 	Schedule C (List of Fixed Assets). 
	Deposits on exchange fees and US building lease 
	Section 6.12 (Statement of Net Assets) of 

        Schedule I (Disclosure Schedule) 
	Intellectual Property 
	Section 6.18 (Intellectual Property) of 

        Schedule I (Disclosure Schedule) 
	Domain names 	Attachment A to Schedule K 
	Accounts receivable 
	Section 6.12 (Statement of Net Assets) of 

        Schedule I (Disclosure Schedule) 
	Deposit on US Building 
	Section 6.12 (Statement of Net Assets) of 

        Schedule I (Disclosure Schedule) 

European Assets 

  	Accounts receivable 
	Section 6.12 (Statement of Net Assets) of 

        Schedule I (Disclosure Schedule) 
	Fixed Assets 	Schedule C (List of Fixed Assets) 
	Shares outstanding in Entities 
	Section 6.11 (Subsidiaries) of Schedule I 

        (Disclosure Schedule) 
	UK Lease Agreement 
	Collin Estates Limited to Synamic Limited 

        dated January 14, 1999 
	Spanish Lease Agreement 	Modesto Saiz Gabaldon dated October 23, 1996
      
	List of Trademarks 	Schedule B (List of Trademarks) 
	Customer Lists 	See Schedule O (Parts E, F, G) 
	Vendor agreements as identified 
	Section 6.22 (Contracts) of Schedule I 

        (Disclosure Schedule) 
	Intellectual Property rights 
	Section 6.18 (Intellectual Property) of 

        Schedule I (Disclosure Schedule) 
	Deposits and prepaids on UK and Spanish Lease,VAT tax 	Section 6.12 (Statement of Net Assets) of 
	receivable and other prepaid expense. 	Schedule I (Disclosure Schedule) 
	Employees 
	Section 6.22(g) (Employment Contracts) of 

        Schedule I (Disclosure Schedule) 
	Advances to Imperial Software Technology 
	Section 6.12 (Statement of Net Assets) of 

        Schedule I (Disclosure Schedule) 
	Inventory 
	Section 6.12 (Statement of Net Assets) of 

        Schedule I (Disclosure Schedule) 
	Datafeed and exchange deposits 
	Section 6.12 (Statement of Net Assets) of 

        Schedule I (Disclosure Schedule) 

January 24, 2007 

SCHEDULE B – LIST OF TRADEMARKS

  	Mark 	Country 	Filing Date/Status 	Reg. No. 	Int’l Class 	Designation 
	FUTURES PAGER & Design 

        
	UK 

        
	4/19/96; registered 

        11/29/96; renewal due 

        4/19/16. __	2,069,214 

        
	36 

        
	® 

        

	FUTURES PAGER & Design 

        
	UK 

        
	1/23/91; registered 

        10/9/92; renewal due 

        1/23/08. 	1,453,354 

        
	36 

        
	® 

        

	MOBIBROKER 

        
	EC 

        
	4/17/00; registered 

        8/21/01; renewal due 

        4/17/10. 	001614130 

        
	9,35,36 & 38 

        
	® 

        

	MOBITRADE 

        
	EC 

        
	4/17/00; registered 

        7/24/01; renewal due 

        4/17/10. 	001613520 

        
	9,35, 36 & 38 

        
	® 

        

	MOBITRADER 

        

        
	EC 

        

        
	4/17/00; registered 

        8/13/01; renewal due 

        4/17/10. 
	001614262 

        

        
	9,35,36 & 38 

        

        
	® 

        

        

	POCKETFUTURES 

        

        
	US 

        

        
	6/6/97; registered 

        12/21/99. Renewal due 

        12/21/08-09. 
	2,302,505 

        

        
	36 

        

        
	® 

        

        

	SCRAPPY 

        

        
	US 

        

        
	5/27/97; registered 

        6/16/98; renewal due 

        between 6/16/07 and 

        6/16/08. 	2,165,800 

        

        
	9 

        

        
	® 

        

        

	SCRAPPY PAGER 

        

        
	US 

        

        
	5/27/97; registered 

        5/26/98; renewal due 

        between 5/26/07 and 

        5/26/08. 	2,160,599 

        

        
	35 

        

        
	® 

        

        

	WIRELESS DATASCREEN 

        MARKETSTREAM 

        FX ALERT 

        ENERGY PAGER 

        ENERGY ALERT 

        MARKETCLIP 

        MARKETCLIP PLUS 

        MOBIQUOTE 	

        

        

        

        

        

        
	

        

        

        

        

        

        
	

        

        

        

        

        

        
	

        

        

        

        

        

        
	TM 

        

        

        

        

        

        

..

	Purchase Agreement TCS Stockgroup Schedule B – List of
      Trademarks 	January 24, 2007 	Page 1 of 1 

SCHEDULE D 

Notarial Deed of Transfer (Benelux)

   

    

 

 

SCHEDULE E 

Notarial Deed of Transfer (Iberian)

   

    

    

    

    

    

    

    

    

    

    

    

    

    

    

   

 

SCHEDULE F

SUBLEASE

          THIS
  SUBLEASE is made and entered into this 31st day of January, 2007, by and
  between TeleCommunication Systems, Inc. ("Landlord"), and Stockgroup Information
  Systems Inc., a Colorado corporation ("Tenant").

1. BASIC LEASE PROVISIONS AND DEFINITIONS. As used herein,
  the following terms shall have the meanings hereafter ascribed to them: 

	 	A. Sub-leased Premises: 	The 678 square feet shown
        in Exhibit A attached hereto as the Mobile Finance space, being a portion
        of the property commonly known as 

	 	  	11460 Cronridge Road, 
	 	  	Owings Mills, MD 
	 	  	  
	 	B. Tenant's Address 	500-750 West Pender St. 
	 	  	Vancouver, British Columbia 
	 	  	V6C 2T7 
	 	  	  
	 	C. Landlord's Address (for notices): 	275 West Street, 
	 	  	Annapolis, MD 21401 
	 	  	Attn: Thomas Brandt, CFO 
	 	  	  
	 	D. Prime Landlord: 	Owings Mills, LLC , a Maryland
        limited liability company 

	 	  	  
	 	E. Prime Landlord's Address: 	c/o Berwind Property Group, Inc. 
	 	  	770 Township Line Road 
	 	  	Suite 150 
	 	  	Yardley, PA 19067 
	 	  	  
	 	F. Identification of Prime Lease 	Industrial/Flex Lease Agreement
        between Prime Landlord and Landlord with a Commencement Date of February
        1, 2005. 

	 	  	  
	 	G. Sublease Term: 	From the date hereof, 
	 	  	Expiring March 31, 2008 
	 	  	  
	 	H. Commencement Date: 	The date hereof 

	 	I. Expiration Date: 	March 31, 2008 
	 	 	 
	 	J. Initial Base Rent: 	$24,000 per annum 
	 	  	$2,000 per month 
	 	 	 
	 	K. Base Annual Rent Adjustment: 	No scheduled increases; See
        Section 7 for other potential adjustments. 

	 	 	 
	 	L. Payee of Rent: 	The Landlord 
	 	 	 
	 	M. Address for Payment of Rent: 	The Landlord’s Address 
	 	 	 
	 	N. Sublease Share: 	3% 
	 	 	 
	 	O. Security Deposit: 	N/A 
	 	 	 
	 	P. Tenant's Use: 	General office use and warehouse
        space data center, and for no other purpose. 

2. PRIME LEASE. Landlord is the tenant under the Prime
  Lease identified in Section 1(F) (the "Prime Lease") with the Prime Landlord
  identified in Section 1(D). Landlord represents and warrants to Tenant that
  (a) Landlord has delivered to Tenant a full and complete copy of the Prime Lease
  and all other agreements between Prime Landlord and Landlord relating to the
  leasing, use or occupancy of the Premises, (b) the Prime Lease is, as of the
  date hereof, in full force and effect, and (c) no event of default has occurred
  under the Prime Lease and, to Landlord's knowledge, no event has occurred and
  is continuing which would constitute an event of default but for the requirement
  of the giving of notice and/or the expiration of the period of time to cure.

3. SUBLEASE. Landlord, for and in consideration of the
  rents herein reserved and of the covenants and agreements herein contained on
  the part of the Tenant to be performed, hereby subleases to the Tenant, and
  the Tenant accepts from the Landlord, the Sub-leased Premises described in Section
  1(A) situated on and a part of the property leased under and described in the
  Prime Lease (the "Leased Property"). Landlord further agrees to provide to Tenant
  the Basic Services set forth in Exhibit B attached hereto and made a part hereof.

4. TERM. Subject to Section 5, the Sublease Term shall
  commence on the Commencement Date and expire on the date Expiration Date, unless
  sooner terminated as otherwise provided elsewhere in this Sublease. Notwithstanding
  the foregoing, Tenant shall be entitled to terminate the Sublease prior to the
  Expiration Date upon ninety (90) days advance written notice to Landlord. 

5. POSSESSION. Landlord agrees to deliver possession of
  the Sub-leased Premises on or before the Commencement Date in its condition
  as of the execution and delivery hereof; that is to say, AS IS. 

- 2 -

6. TENANT'S USE. The Sub-leased Premises shall be used
  and occupied only for the Tenant's Use set forth in Section I(P). Tenant shall
  have the right to the reasonable use of, on a non exclusive basis with other
  tenants, the conference room(s) and other common areas shown on Exhibit A. The
  reasonable use of the common areas is subject to all pertinent provisions of
  this Sublease regarding use of the Sub-leased Premises and Tenant shall not
  be permitted to use the same in a manner that would hinder reasonable use by
  other tenants. In the event Landlord in its discretion determines that Tenant
  is using any of the common areas to an extent greater than the Sublease Share,
  Landlord reserves the right to charge Tenant additional rent for its additional
  use of said common areas.

7. RENT. Beginning on the Commencement Date, Tenant agrees
  to pay the Base Rent set forth in Section 1(J) to the Payee specified in Section
  1(L), at the address specified in Section 1(M), or to such other payee or at
  such other address as may be designated by notice in writing from Landlord to
  Tenant, without prior demand therefor and without any deduction whatsoever.
  Base Rent shall be paid in equal monthly installments in advance on the first
  day of each month of the Term, except that the first installment of Base Rent
  shall be paid by Tenant to Landlord upon execution of this Sublease by Tenant.
  Base Rent shall be pro-rated for partial months at the beginning and end of
  the Term. The Base Rent is not scheduled to be adjusted under the Prime Lease;
  in the event the Landlord subleases unused portions of the premises during the
  Term such that shared expenses and any other costs can be re-allocated among
  all sub-lessees, then the Base Rent shall be adjusted to reflect such savings
  or cost avoidance. All charges, costs and sums required to be paid by Tenant
  to Landlord under this Sublease in addition to Base Rent shall be deemed "Additional
  Rent", and Base Rent and Additional Rent shall hereinafter collectively be referred
  to as "Rent". Tenant's covenant to pay Rent shall be independent of every other
  covenant in this Lease. If Rent is not paid when due, Tenant shall pay, relative
  to the delinquent payment, an amount equal to the sum which would be payable
  by Landlord to Prime Landlord for an equivalent default under the Prime Lease.

8. ADDITIONAL RENT. 

     A. If and to the extent that Landlord
  is obligated to pay additional rent under the Prime Lease, whether such additional
  rent is to reimburse Prime Landlord for taxes, operating expenses, common area
  maintenance charges or other expenses incurred by the Prime Landlord in connection
  with the Leased Property, Tenant shall pay to Landlord, the percentage of such
  additional rent (to the extent such additional rent is attributable to events
  occurring during the term of this Sublease) which is set forth in Section 1(N)
  as the Sublease Share. Such payment shall be due from Tenant to Landlord no
  fewer than five (5) days prior to the date upon which Landlord's payment of
  such additional rent is due to the Prime Landlord, provided that Tenant shall
  have been billed therefor at least ten (10) days prior to such due date (which
  bill shall be accompanied by a copy of Prime Landlord's bill and other material
  furnished to Landlord in connection therewith). 

     B. The Sublease Share provided
  for in Section 1(N) is calculated by dividing the rentable area of the Sub-leased
  Premises by the rentable area of the Leased Property leased by Prime Landlord
  to Landlord pursuant to the Prime Lease. In the event the rentable area of the
  Sub-leased Premises or the area of the premises leased pursuant to the Prime
  Lease shall be changed during the Term, then the Sublease Share shall be recalculated.

- 3 -

     C. The Basic Services shall be
  billed by Landlord and paid monthly as additional rent, along with regular monthly
  installments of Base Rent as provided in section 7 above. Landlord shall not
  be liable to Tenant due to any failure to provide, or the inadequacy of , utilities
  or any other Basic Services if beyond the reasonable control of Landlord.

9. TENANT'S OBLIGATIONS. Tenant shall be responsible for,
  and shall pay the following: 

     A. Tenant shall pay the Electric
  Share provided for in Section 1(N) of all utility consumption costs, including
  without limitation, electric and other charges incurred in connection with lighting,
  and providing electrical power to the Sub-leased Premises. Tenant shall hold
  Landlord harmless from all costs or expenses Landlord may incur from Tenant's
  failure to pay utility bills or to perform any of its obligations with respect
  to the purchase of utilities. 

     B. All maintenance, repairs and
  replacements as to the Sub-leased Premises and its equipment, to the extent
  Landlord is obligated to perform the same under the Prime Lease. 

10. QUIET ENJOYMENT. Landlord represents that it has full
  power and authority to enter into this Sublease, subject to the Prime Lease.
  So long as Tenant is not in default in the performance of its covenants and
  agreements in this Sublease, Tenant's quiet and peaceable enjoyment of the Sub
  leased Premises shall not be disturbed or interfered with by Landlord, or by
  any person claiming by, through, or under Landlord. 

11. TENANT'S INSURANCE. Tenant shall procure and maintain,
  at its own cost and expense, insurance insuring its personal property located
  within the Sub-leased Premises. Tenant shall furnish to Landlord a certificate
  of Tenant's insurance required hereunder not later than ten (10) days prior
  to Tenant's taking possession of the Sub-leased Premises. Each party hereby
  waives claims against the other for property damage provided such waiver shall
  not invalidate the waiving party's property insurance; each party shall attempt
  to obtain from its insurance carrier a waiver of its right of subrogation. Tenant
  hereby waives claims against Prime Landlord and Landlord for property damage
  to the Sub-leased Premises or its contents if and to the extent that Landlord
  waives such claims against Prime Landlord under the Prime Lease. Tenant agrees
  to obtain, for the benefit of Prime Landlord and Landlord, such waivers of subrogation
  rights from its insurer as are required of Landlord under the Prime Lease. Landlord
  agrees to use reasonable efforts in good faith to obtain from Prime Landlord
  a waiver of claims for insurable property damage losses and an agreement from
  Prime Landlord to obtain a waiver of subrogation rights in Prime Landlord's
  property insurance, if and to the extent that Prime Landlord waives such claims
  against Landlord under the Prime Lease or is required under the Prime Lease
  to obtain such waiver of subrogation rights. 

12. ASSIGNMENT OR SUBLETTING. 

     A. Tenant shall not (i) assign,
  convey or mortgage this Sublease or any interest under it; (ii) allow any transfer
  thereof or any lien upon Tenant's interest by operation of law; (iii) further
  sublet the Sub-leased Premises or any part thereof; or (iv) permit the occupancy
  of the Sub-leased Premises or any part thereof by anyone other than Tenant.
  Landlord's consent to an assignment of this Sublease or a further sublease of
  the Sub-leased Premises shall not be unreasonably withheld, and if Landlord
  consents thereto, Landlord shall use reasonable efforts to obtain the consent
  of 

- 4 -

Prime Landlord if such consent is required to be obtained under
  the Prime Lease. Any cost of obtaining Prime Landlord's consent shall be borne
  by Tenant. 

     B. No permitted assignment shall
  be effective and no permitted sublease shall commence unless and until any default
  by Tenant hereunder shall have been cured. No permitted assignment or subletting
  shall relieve Tenant from Tenant's obligations and agreements hereunder and
  Tenant shall continue to be liable as a principal and not as a guarantor or
  surety to the same extent as though no assignment or subletting had been made.

13. RULES. Tenant agrees to comply with all rules and
  regulations that Prime Landlord has made or may hereafter from time to time
  make for the Leased Property. Landlord shall not be liable in any way for damage
  caused by the non-observance by any of the other tenants of such similar covenants
  in their leases or of such rules and regulations. 

14. REPAIRS AND COMPLIANCE. Tenant shall promptly pay
  for the repairs set forth in Section 9(B) hereof and Tenant shall, at Tenant's
  own expense, comply with all laws and ordinances, and all orders, rules and
  regulations of all governmental authorities and of all insurance bodies and
  their fire prevention engineers at any time in force, applicable to the Sub-leased
  Premises or to Tenant's particular use or manner of use thereof. As used herein,
  "structure" or "structural" shall mean that portion of any building which is
  integral to the integrity of the building as an existing enclosed unit and shall,
  in any event, include footings, foundation, outside walls, skeleton, bearing
  columns and interior bearing walls, floor slabs, roof and roofing system. 

15. FIRE OR CASUALTY OR EMINENT DOMAIN. In the event of
  a fire or other casualty affecting the Sub-lease Premises, or the Leased Properties,
  or of a taking of all or a part of the Sub leased Premises or the Leased Properties
  under the power of eminent domain, Landlord shall not exercise any right which
  may have the effect of terminating the Prime Lease without first obtaining the
  prior written consent of Tenant. In the event Landlord is entitled, under the
  Prime Lease, to a rent abatement as a result of a fire or other casualty or
  as a result of a taking under the power of eminent domain, then Tenant shall
  be entitled to the Sublease Share of such rent abatement unless the effect on
  the Sub-leased Premises of such fire or other casualty or such taking shall
  be substantially disproportionate to the amount of the abatement, in which event
  the parties shall equitably adjust the abatement as between themselves, based
  on the relative impact of the fire or other casualty, or the taking, as the
  case may be. If the Prime Lease imposes on Landlord the obligation to repair
  or restore leasehold improvements or alterations, Tenant shall be responsible
  for repair or restoration of leasehold improvements or alterations it shall
  have installed in the Sub leased Premises, and Landlord shall be responsible
  for the repair or restoration of the balance of the leasehold improvements or
  alterations; Tenant shall make any insurance proceeds resulting from the loss
  which Landlord is obligated to repair or restore available to Landlord and shall
  permit Landlord to enter the Sub-leased Premises to perform the same, subject
  to such conditions as Tenant may reasonably impose. 

16. ALTERATIONS. Tenant shall, at Tenant’s sole cost
  and expense, make any additions, changes, improvement or alterations to the
  Sub-leased Premises, including structural alterations, which may be required
  by any governmental authorities, including those required to continue to satisfy
  any licensure requirements related to the operation of Tenant’s business,
  whether such changes are required by Tenant’s use, changes in the law,
  ordinances, or governmental regulations, 

- 5 -

defects existing as of the date of the Sublease, or any cause
  whatsoever. Tenant shall provide Landlord with forty-five (45) days prior written
  notice to Landlord of any changes to the Sub leased Premises pursuant to this
  section which involves changes to the structural integrity thereof or materially
  affect the operational capabilities thereof. All such additions, changes, improvements
  or alterations shall be deemed to be an Alteration under the Prime Lease and
  shall comply with all law relating to such alterations and with the provisions
  of Section 8 of the Prime Lease. Tenant shall be responsible for compliance
  with the requirements of Section 8 (d) of the Prime Lease relating to Removal
  Alterations (as defined therein), and any cost or expense associated therewith.

17. SURRENDER. Upon the expiration of this Sublease, or
  upon the termination of the Sublease or of the Tenant's right to possession
  of the Sub-leased Premises, Tenant will at once surrender and deliver up the
  Sub-leased Premises, together with all improvements thereon, to Landlord in
  good condition and repair, reasonable wear and tear excepted; conditions existing
  because of Tenant's failure to perform maintenance, repairs or replacements
  as required of Tenant under this Sublease shall not be deemed "reasonable wear
  and tear". Said improvements shall include all plumbing, lighting, electrical,
  heating, cooling and ventilating fixtures and equipment used in the operation
  of the Premises (as distinguished from operations incident to the business of
  Tenant). Tenant shall surrender to Landlord all keys to the Sub-leased Premises
  and make known to Landlord the explanation of all combination locks which Tenant
  is permitted to leave on the Sub-leased Premises. All Alterations in or upon
  the Sub-leased Premises made by Tenant shall become a part of and shall remain
  upon the Premises upon such termination without compensation, allowance or credit
  to Tenant; provided, however, Tenant shall have the right to remove those items
  deemed Tenant’s goods and effects, as referenced in Section 24 of the Prime
  Lease, in accordance with the requirements set forth in Sections 8 (d) and 24
  of the Prime Lease. If Landlord or Prime Landlord requires removal of any personal
  property of Tenant and Tenant does not make such removal in accordance with
  these Sections, Landlord may remove the same (and repair any damage occasion
  thereby), and dispose thereof, or at its election, deliver the same to any other
  place of business of Tenant, or warehouse the same. Tenant shall pay the costs
  of such removal, repair, delivery and warehousing on demand.

18. HOLDING OVER. Tenant shall have no right to occupy
  the Sub-leased Premises or any portion thereof after the expiration of this
  Sublease or after termination of this Sublease or of Tenant's right to possession
  in consequence of an Event of Default hereunder. Should Tenant, without the
  express written consent of Landlord, continued to hold and occupy the Sub-leased
  Premises after the expiration or earlier termination the Term or any Extension
  Term, as the case may be, such holding over beyond the Term and acceptance or
  collection of Rent by Landlord shall be construed as creating a tenancy from
  month-to-month and not for any other term whatsoever. During any such holdover
  period Tenant shall pay to landlord for each month (or portion thereof) Tenant
  remains in such Sub-leased Premises, in lieu of Base Annual Rent for the Sub-leased
  Premises, an amount equal to one hundred fifty (150%) percent of the Base Annual
  Rent (the “Holdover Rate”), and (ii) as applicable, one hundred percent
  (100%) of the Additional Rent for the Sub-leased Premises, each as in effect
  on the expiration date. Said month-to-month tenancy may be terminated by Landlord
  by giving Tenant twenty (20) days written notice, and at any time thereafter
  Landlord may re-enter and take possession of the Sub-leased Premises.

19. ENCUMBERING TITLE. Tenant shall not do any act which
  shall in any way encumber the title of Prime Landlord in and to the Sub-leased
  Premise or the Leased Properties, nor shall the 

- 6 -

interest or estate of Prime Landlord or Landlord be in any way
  subject to any claim by way of lien or encumbrance, whether by operation of
  law by virtue of any express or implied contract by Tenant, or by reason of
  any other act or omission of Tenant. Any claim to, or lien upon, the Sub leased
  Premises, the Leased Properties arising from any act or omission of Tenant shall
  accrue only against the subleasehold estate of Tenant and shall be subject and
  subordinate to the paramount title and rights of Prime Landlord in and to the
  Leased Properties and the interest of Landlord in the Sub-leased Premises. Without
  limiting the generality of the foregoing, Tenant shall not permit the Sub-leased
  Premises, or the Leased Properties to become subject to any mechanics', laborers'
  or materialmen's lien on account of labor or material furnished to Tenant or
  claimed to have been furnished to Tenant in connection with work of any character
  performed or claimed to have been performed on the Sub-leased Premises by, or
  at the direction or sufferance of, Tenant, provided, however, that if so permitted
  under the Prime Lease, Tenant shall have the right to contest in good faith
  and with reasonable diligence, the validity of any such lien or claimed lien
  if Tenant shall give to Prime Landlord and Landlord such security as may be
  deemed satisfactory to them to assure payment thereof and to prevent any sale,
  foreclosure, or forfeiture of the Sub-leased Premises or the Leased Properties
  by reason of non-payment thereof, provided further, however, that on final determination
  of the lien or claim of lien, Tenant shall immediately pay any judgment rendered,
  with all proper costs and charges, and shall have the lien released and any
  judgment satisfied. 

20. INDEMNITY. Tenant agrees to indemnify Landlord and
  hold Landlord harmless from all losses, damages, liabilities and expenses which
  Landlord may incur, or for which Landlord may be liable to Prime Landlord, arising
  from the acts or omissions of Tenant which are the subject matter of any indemnity
  or hold harmless of Landlord to Prime Landlord under the Prime Lease.

21. LANDLORD'S RESERVED RIGHTS. Landlord reserves the
  right, on 48 hours prior notice, to inspect the Sub-leased Premises at any time
  during the Sublease Term. 

22. DEFAULTS. Tenant further agrees that any one or more
  of the following events shall be considered Events of Default as said term is
  used herein, that is to say, if: 

     A. Tenant shall be adjudged an
  involuntary bankrupt, or a decree or order approving, as properly filed, a petition
  or answer filed against Tenant asking reorganization of Tenant under the Federal
  bankruptcy laws as now or hereafter amended, or under the laws of any State,
  shall be entered, and any such decree or judgment or order shall not have been
  vacated or stayed or set aside within sixty (60) days from the date of the entry
  or granting thereof; or 

     B. Tenant shall file, or admit
  the jurisdiction of the court and the material allegations contained in, any
  petition in bankruptcy, or any petition pursuant or purporting to be pursuant
  to the Federal bankruptcy laws now or hereafter amended, or Tenant shall institute
  any proceedings for relief of Tenant under any bankruptcy or insolvency laws
  or any laws relating to the relief of debtors, readjustment of indebtedness,
  reorganization, arrangements, composition or extension; or 

     C. Tenant shall make any assignment
  for the benefit of creditors or shall apply for or consent to the appointment
  of a receiver for Tenant or any of the property of Tenant; or 

     D. Tenant shall admit in writing
  its inability to pay its debts as they become due; or 

- 7 -

     E. The Sub-leased Premises are
  levied on by any revenue officer or similar officer; or 

     F. A decree or order appointing
  a receiver of the property of Tenant shall be made and such decree or order
  shall not have been vacated, stayed or set aside within sixty (60) days from
  the date of entry or granting thereof; or 

     G. Tenant shall abandon the Sub-leaed
  Premises during the Term hereof; or 

     H. Tenant shall default in any
  payment of Rent required to be made by Tenant hereunder when due as herein provided
  and such default shall continue for five (5) days after notice thereof in writing
  to Tenant; or 

     I. Tenant shall default in securing
  insurance or in providing evidence of insurance as set forth in Section 11 of
  this Sublease or shall default with respect to lien claims as set forth in Section
  19 of this Sublease and either such default shall continue for five (5) days
  after notice thereof in writing to Tenant; or 

     J. Tenant shall, by its act or
  omission to act, cause a default under the Prime Lease and such default shall
  not be cured within the time, if any permitted for such cure under the Prime
  Lease; or

     K. Tenant shall default in any
  of the other covenants and agreements herein contained to be kept, observed
  and performed by Tenant, and such default shall continue for thirty (30) days
  after notice thereof in writing to Tenant.

     L. Default under any franchise
  or license pursuant to which Tenant conducts business at the Sub-leased Premises,
  if in the Landlord’s judgment such default in light of commercially reasonable
  standards and industry practice would have a material adverse affect on the
  Sub-leased Premises, which default is not cured within thirty (30) days after
  notice thereof in writing to Tenant. 

23. REMEDIES. Upon the occurrence of any one or more Events
  of Default, Landlord may exercise any remedy against Tenant which Prime Landlord
  may exercise for default by Landlord under the Prime Lease.

24. SECURITY DEPOSIT. INTENTIONALLY OMITTED. 

25. NOTICES AND CONSENTS. All notices, demands, requests,
  consents or approvals which may or are required to be given by either party
  to the other shall be in writing and shall be deemed given when received or
  refused if sent by United States registered or certified mail, postage prepaid,
  return receipt requested or if sent by overnight commercial courier service
  (a) if to Tenant, addressed to Tenant at the address specified in Section 1(B)
  or at such other place as Tenant may from time to time designate by notice in
  writing to Landlord or (b) if for Landlord, addressed to Landlord at the address
  specified in Section 1(C) or at such other place as Landlord may from time to
  time designate by notice in writing to Tenant. Each party agrees promptly to
  deliver a copy of each notice, demand, request, consent or approval from such
  party to Prime Landlord and promptly to deliver to the other party a copy of
  any notice, demand, request, consent or approval received from Prime Landlord.
  Such copies shall be delivered by overnight commercial courier. 

- 8 -

26. PROVISIONS REGARDING SUBLEASE. This Sublease and all
  the rights of parties hereunder are subject and subordinate to the Prime Lease.
  Each party agrees that it will not, by its act or omission to act, cause a default
  under the Prime Lease. In furtherance of the foregoing, the parties hereby confirm,
  each to the other, that it is not practical in this Sublease agreement to enumerate
  all of the rights and obligations of the various parties under the Prime Lease
  and specifically to allocate those rights and obligations in this Sublease agreement.
  Accordingly, in order to afford to Tenant the benefits of this Sublease and
  of those provisions of the Prime Lease which by their nature are intended to
  benefit the party in possession of the Sub-leased Premises, and in order to
  protect Landlord against a default by Tenant which might cause a default or
  event of default by Landlord under the Prime Lease: 

     A. Provided Tenant shall timely
  pay all Rent when and as due under this Sublease, Landlord shall pay, when and
  as due, all base rent, additional rent and other charges payable by Landlord
  to Prime Landlord under the Prime Lease;

     B. Except as otherwise expressly
  provided herein, Landlord shall perform its covenants and obligations under
  the Prime Lease which do not require for their performance possession of the
  Sub-leased Premises and which are not otherwise to be performed hereunder by
  Tenant on behalf of Landlord. For example, Landlord shall at all times keep
  in full force and effect all insurance required of Landlord as tenant under
  the Prime Lease. 

     C. Except as otherwise expressly
  provided herein, Tenant shall perform all affirmative covenants and shall refrain
  from performing any act which is prohibited by the negative covenants of the
  Prime Lease, where the obligation to perform or refrain from performing is by
  its nature imposed upon the party in possession of the Sub-leased Premises.
  If practicable, Tenant shall perform affirmative covenants which are also covenants
  of Landlord under the Prime Lease at least five (5) days prior to the date when
  Landlord's performance is required under the Prime Lease. Landlord shall have
  the right to enter the Sub-leased Premises to cure any default by Tenant under
  this Section. 

     D. Landlord shall not agree to
  an amendment to the Prime Lease which might have an adverse effect on Tenant's
  occupancy of the Sub-leased Premises or its use of the Sub-leased Premises for
  their intended purpose, unless Landlord shall first obtain Tenant's prior written
  approval thereof. 

     E. Landlord hereby grants to Tenant
  the right to receive all of the services and benefits with respect to the Sub-leased
  Premises which are to be provided by Prime Landlord under the Prime Lease. Landlord
  shall have no duty to perform any obligations of Prime Landlord which are, by
  their nature, the obligation of an owner or manager of real property. For example,
  Landlord shall not be required to provide the services or repairs which the
  Prime Landlord is required to provide under the Prime Lease. Landlord shall
  have no responsibility for or be liable to Tenant for any default, failure or
  delay on the part of Prime Landlord in the performance or observance by Prime
  Landlord of any of its obligations under the Prime Lease, nor shall such default
  by Prime Landlord affect this Sublease or waive or defer the performance of
  any of Tenant's obligations hereunder except to the extent that such default
  by Prime Landlord excuses performance by Landlord, under the Prime Lease. Notwithstanding
  the foregoing, the parties contemplate that Prime Landlord shall, 

- 9 -

in fact, perform its obligations under the Prime Lease and in
  the event of any default or failure of such performance by Prime Landlord, Landlord
  agrees that it will, upon notice from Tenant, make demand upon Prime Landlord
  to perform its obligations under the Prime Lease and, provided that Tenant specifically
  agrees to pay all costs and expenses of Landlord and provides Landlord with
  security reasonably satisfactory to Landlord to pay such costs and expenses,
  Landlord will take appropriate legal action to enforce the Prime Lease.

27. PRIME LANDLORD'S CONSENT. This Sublease and the obligations
  of the parties hereunder are expressly conditioned upon Landlord's obtaining
  prior written consent hereto by Prime Landlord, if such written consent is required
  under the Prime Lease. Tenant shall promptly deliver to Landlord any information
  reasonably requested by Prime Landlord (in connection with Prime Landlord's
  approval of this Sublease) with respect to the nature and operation of Tenant's
  business and/or the financial condition of Tenant. Landlord and Tenant hereby
  agree, for the benefit of Prime Landlord, that this Sublease and Prime Landlord's
  consent hereto shall not (a) create privity of contract between Prime Landlord
  and Tenant; (b) be deemed to have amended the Prime Lease in any regard (unless
  Prime Landlord shall have expressly agreed in writing to such amendment); or
  (c) be construed as a waiver of Prime Landlord's right to consent to any assignment
  of the Prime Lease by Landlord or any further subletting of premises leased
  pursuant to the Prime Lease, or as a waiver of Prime Landlord's right to consent
  to any assignment by Tenant of this Sublease or any sub-subletting of the Sub-leased
  Premises or any part thereof. Prime Landlord's consent shall, however, be deemed
  to evidence Prime Landlord's agreement that Tenant may use the Sub-leased Premises
  for the purpose set forth in Section 1(P) and that Tenant shall be entitled
  to any waiver of claims and of the right of subrogation for damage to Prime
  Landlord's property if and to the extent that the Prime Lease provides such
  waivers for the benefit of Landlord.

28. FORCE MAJEURE. Landlord shall not be deemed in default
  with respect to any of the terms, covenants and conditions of this Sublease
  on Landlord's part to be performed, if Landlord's failure to timely perform
  same is due in whole or in part to any strike, lockout, labor trouble (whether
  legal or illegal), civil disorder, failure of power, restrictive governmental
  laws and regulations, riots, insurrections, war, shortages, accidents, casualties,
  acts of God, acts caused directly by Tenant or Tenant's agents, employees and
  invitees or any other cause beyond the reasonable control of Landlord. This
  Section shall not be applicable, however, if Landlord's failure timely to perform
  creates a default by Landlord under the Prime Lease. 

- 10 -

29. WAIVER OF TRIAL BY JURY. Landlord and Tenant hereby
  waive trial by jury in any action or proceeding or counterclaim brought by either
  party hereto against the other party on any and every matter, directly or indirectly,
  arising out of or with respect to this Sublease. 

THE PARTIES have executed this Sublease the day and year first
  above written. 

	WITNESS/ATTEST: 	 	LANDLORD: 
	 	 	 
	  	 	TELECOMMUNICATION SYSTEMS, INC. 
	 	 	 
	 	 	 
	  	 	________________________________________ (SEAL)
    
	 	 	 
	  	 	TENANT: 
	 	 	 
	  	 	STOCKGROUP INFORMATION SYSTEMS INC. 
	 	 	 
	 	 	 
	  	 	________________________________________ (SEAL)
    

- 11 -

EXHIBIT A

  FLOOR PLAN 

 

 

- 12 -

EXHIBIT B 

BASIC SERVICES 

  	Service
      	Vendor 	Per month 	 

	  	  	 	  	 	 	Per sq. ft./ 	 
	  	  	 	  	 	 	yr. 	 
	  	  	 		 	 	$	 
	Monthly rent 	c/o Trammell Crow 	 	40,881 	 	 	14.68 	 
	Avg. override 	  	 	4,300
    	 	 	  	 
	  	Subtotal landlord charges 	 	45,181 	 	 	  	 
	  	  	 	  	 	 	  	 
	Utilities 	BGE 	 	16,000 	 	 	  	 
	Office Supplies 	Corporate Express 	 	3,331 	 	 	  	 
	Janitorial Services 	BWC 	 	3,300 	 	 	  	 
	HVAC service 	SSS 	 	1,564 	 	 	  	 
	Coffee/Soda 	Black Tie 	 	1,392 	 	 	  	 
	Postage 	Purchase Power 	 	1,317 	 	 	  	 
	Electrical Contractor 	Sunset Electrical 	 	1,000 	 	 	  	 
	Power Services 	JT Packard 	 	801 	 	 	  	 
	Waste Removal 	Allied 	 	450 	 	 	  	 
	Fire supression service 	BFPE 	 	241 	 	 	  	 
	Postage Meter 	Pitney Bowes 	 	230 	 	 	  	 
	Plumbing Contractor 	Spence Mechanical 	 	200 	 	 	  	 
	First Aid supplies 	Cintas 	 	167 	 	 	  	 
	Shredding 	Mid-Atlantic Shredding 	 	160 	 	 	  	 
	Data Center Cleaning 	Value Facility Service 	 	100 	 	 	  	 
	Cable TV 	Direct TV 	 	89 	 	 	  	 
	Generator Services 	Alban 	 	84 	 	 	  	 
	Exterminator 	Western Pest Control 	 	64 	 	 	  	 
	  	Subtotal shared services facilities
    	 	  	 	 	  	 
	  	expenses 	 	30,490 	 	 	  	 
	  	Total for facility 	$	75,671 	 	 	  	 

- 13 -

Allocation among Owings Mills Tenants:

	 	Square feet    	 	 
	Mobile Asset Mgt. 	14,807 	58% 	$43,669 
	mobeo 	10,173 	40% 	$30,002 
	Mobile Finance 	678 	3% 	$2,000 
	                 
                           
       Subtotal 	25,658 	100% 	$75,671 
	Shared space 	7,760 	  	  
	  	  	  	  
	Total per lease 	33,418 	  	  

- 14 -

SCHEDULE G 

Allocation of Purchase Price

  	  	Net 	  	  
	  	Purchase 	  	  
	Allocation of Purchase price 	Price 	Earn Out 	  
	US 	561 	492 	98.4% 
	Australia 	6 	5 	1.1% 
	  	  	  	  
	UK 	1 	1 	0.2% 
	Spain 	1 	1 	0.2% 
	Benelux 	1 	1 	0.2%
      
	International 	3 	3 	0.5% 
	  	570
      	500
      	100.0% 

Schedule H 

TRANSITION SERVICES AGREEMENT

          This
  TRANSITION SERVICES AGREEMENT (this “Agreement”) is made as
  of January 31, 2007, by and between TeleCommunication Systems, Inc., a Maryland
  corporation (“TCS”), and Stockgroup Information Systems Inc.,
  a Colorado corporation (“Stockgroup”). Terms used but not otherwise
  defined herein, shall have the meaning ascribed such terms in the Purchase Agreement,
  as defined below.

WITNESSETH: 

          WHEREAS,
  pursuant to that certain Purchase Agreement, dated as of January 24, 2007, by
  and among Stockgroup and TCS relating to the purchase and sale of certain assets
  of TCS comprising its Mobile Finance division (the “Purchase Agreement”),
  TCS has agreed to sell, convey, transfer, assign and deliver to Stockgroup,
  and Stockgroup has agreed to acquire certain assets and to assume the Assumed
  Liabilities from TCS, in each case relating exclusively to the Business, which
  the parties agree will be achieved pursuant to (i) the purchase and sale of
  the Assets, and (ii) the assumption of the Assumed Liabilities, all on the terms
  and subject to the conditions set forth in the Purchase Agreement; and WHEREAS,
  in connection therewith, Stockgroup and TCS desire that TCS provide Stockgroup
  with certain transition services upon the terms and provisions and subject to
  the conditions of this Agreement. 

          NOW,
  THEREFORE, in consideration of the foregoing premises and the covenants and
  agreements set forth herein, Stockgroup and TCS agrees as follows: 

          1.
  Transition Services. During the Transition Period (as defined in Section
  5), upon the request of Stockgroup, TCS agrees to provide, or cause its Affiliates
  to provide, to Stockgroup from the date of this Agreement for the period of
  time described on Annex A attached hereto with respect to each of the
  services, the services set forth on Annex A. Such services shall be provided
  under the terms and at the prices set forth on Annex A. TCS’s obligation
  to deliver any service is conditioned upon TCS’s obtaining the consent,
  where necessary, of any relevant third party provider. TCS shall use its commercially
  reasonable efforts, and Stockgroup and TCS shall cooperate fully with TCS in
  all respects, to obtain any consents that may be required from such licensors
  in order to provide any of the services hereunder. 

          2.
  Billing and Payment. In accordance with the provisions of this Agreement,
  Stockgroup shall promptly pay for the actual costs including overhead and profit
  of all services provided under or pursuant to this Agreement as set forth in
  the invoices that it receives from TCS or its Affiliates. Such charges shall
  be billed at the end of each calendar month during the Transition Period. All
  invoices shall be paid by check in accordance with the instructions provided
  by TCS in writing to Stockgroup not later than thirty (30) days following receipt
  by Stockgroup of TCS’s invoice. Upon Stockgroup’s request, TCS shall
  provide Stockgroup with supporting information for such bills and invoices.

	Transition Services Agreement between TCS and Stockgroup 	January 24, 2007 	Page 1 of 7 

          3.
  General Intent. TCS shall use its commercially reasonable efforts to
  provide the transition services which are set forth on Annex A and such
  other transition assistance as the parties may otherwise agree during the Transition
  Period. Stockgroup and its Affiliates agree to use their respective commercially
  reasonable efforts to terminate their need to use such assistance as soon as
  reasonably possible and (unless the parties otherwise agree) in all events to
  terminate such need with respect to each service specified in Annex A
  not later than the end of the period specified in Annex A for the provision
  of each such service. 

          4.
  Validity of Documents. The parties hereto shall be entitled to rely upon
  the genuineness, validity or truthfulness of any document, instrument or other
  writing presented in connection with the Agreement unless such document, instrument
  or other writing appears on its face to be fraudulent, false or forged. 

          5.
  Term of Agreement. The term of this Agreement shall commence on the date
  hereof and shall continue (unless sooner terminated pursuant to the terms hereof)
  for a period of six (6) months (such period the “Transition Period,”
  or such other period as may be specified in Annex A with respect
  to particular services described in Annex A.) Stockgroup has the option
  to renew the agreement for a period extending up to March 31, 2008 for the MIS
  support identified in Annex A. Upon termination of this Agreement, all
  rights and obligation of each party, other than those set forth in Sections
  8 and 11 of this Agreement and other than any payments by Stockgroup for services
  provided through the date of termination shall cease as of the effective date
  of such termination, and any such unpaid amounts owed by Stockgroup shall be
  paid in accordance with the payment provisions of Section 2. 

          6.
  Partial Termination. Any and all of the services provided by TCS and
  its Affiliates hereunder are terminable earlier than the period specified in
  Annex A by Stockgroup only upon thirty (30) days prior written notice
  to TCS. Any such termination shall be final. 

          7.
  Assignment. This Agreement shall not be assignable in whole or in part
  by Stockgroup without the prior written consent of TCS. TCS may assign, sell,
  delegate or otherwise transfer this Agreement or any of its rights and obligations
  hereunder as part of a merger, consolidation, corporate reorganization, joint
  venture, lease, sale of all or a portion of its assets, sale of stock or similar
  event; provided that in connection with any such transaction (a) the
  resulting, surviving or transferee Person (any such Person, a “Successor
  Company”) by operation of law, becomes, without more, bound by the
  terms and provisions of this Agreement or, if not so bound, the Successor Company
  expressly assumes the rights and obligations of TCS under this Agreement which
  are being transferred to such Successor Company, and (b) TCS shall notify Stockgroup
  in writing promptly (and in no event more than ten (10) days) after any such
  assignment, sale, delegation or transfer. 

          8.
  Confidentiality. Each party hereto agrees to hold, and use its best efforts
  to cause its officers, directors, employees, accountants, counsel, consultants,
  advisors and agents to hold, in confidence, unless compelled to disclose by
  judicial or administrative process or by other requirements of law, all confidential
  documents and information concerning this Agreement and any services provided
  hereunder, provided, however, that to the extent that any of them
  may become so legally compelled, they may only disclose such information if
  they shall first have used best efforts to, and, if practicable, shall have
  afforded the other party the opportunity to, 

2

obtain an appropriate protective order or other satisfactory
  assurance of confidential treatment for the information required to be disclosed.
  If this Agreement is terminated, Stockgroup will, and will use their best efforts
  to cause their respective officers, directors, employees, accountants, counsel,
  consultants, advisors and agents to, destroy or deliver to TCS, upon request,
  all documents and other materials, and all copies thereof, obtained by Stockgroup
  and its respective Affiliates or on their behalf from TCS or any of its Affiliates
  in connection with this Agreement that are subject to such confidence. Notwithstanding
  anything herein to the contrary, the parties agree (and each affiliate and person
  acting on behalf of such party) agree that each party (and each employee, representative,
  and other agent of such party) may disclose to any and all persons without limitation
  of any kind, the tax treatment and tax structure of the transaction and all
  materials of any kind (including opinions and other tax analyses) that are provided
  to such party or such persons relating solely to such tax treatment and tax
  structure, except to the extent necessary to comply with any applicable federal
  or state securities laws.

          9.
  Governing Law; Submission To Jurisdiction. This Agreement shall be deemed
  to be made in and in all respects shall be interpreted, construed and governed
  by and in accordance with the law of the State of Maryland without regard to
  the conflict of law principles thereof.

          10.
  Limitation of Liability. TCS shall not be liable to Stockgroup, its Affiliates
  or any third party for any special, consequential or exemplary damages (including
  lost or anticipated revenues or profits relating to the same) arising from any
  claim relating to this Agreement or any of the services provided hereunder,
  whether such claim is based on warranty, contract, tort (including negligence
  or strict liability) or otherwise, even if an authorized representative of TCS
  is advised of the possibility or likelihood of the same. In addition, TCS shall
  not be liable to Stockgroup, any of its Affiliates or any third party for any
  direct damages arising from any claim relating to this Agreement or any of the
  services provided hereunder or required to be provided hereunder, except to
  the extent that such direct damages are caused by the gross negligence or willful
  misconduct of TCS or its Affiliates. 

          11.
  Default. In the event that (a) Stockgroup fails to pay any amount when
  due under this Agreement within fifteen (15) days after written notice that
  such payment is due; or (b) Stockgroup fails to perform, or breaches or defaults
  under any other material term, condition or obligation of this Agreement, and
  such failure, breach or default is not cured within thirty (30) days after written
  notice thereof, TCS shall have the right to terminate this Agreement without
  penalty to TCS and without prejudice to any other rights and remedies of TCS
  and its Affiliates. 

          12.
  Counterparts. This Agreement may be executed in one or more counterparts
  (including by means of telecopied signature pages), all of which shall be considered
  one and the same agreement, and shall become effective when one or more such
  counterparts have been signed by each of the parties and delivered to the other
  parties. 

          13.
  Notices. All notices or other communications required or permitted to
  be delivered hereunder shall be in writing and shall be delivered by hand or
  sent by prepaid telex or telecopy, or sent, postage prepaid, by registered,
  certified or express mail, or reputable overnight courier service and shall
  be deemed delivered when so delivered by hand, telexed or telecopied with acknowledged
  receipt, or if mailed, five (5) calendar days after mailing (one (1) Business
  Day in the case of express mail or overnight courier service), as follows: 

	Transition Services Agreement between TCS and Stockgroup 	January 24, 2007 	Page 3 of 7 

If to TCS: 

TeleCommunication Systems, Inc. 

  275 West Street 

  Annapolis, Maryland 21401 

  Attn: Thomas Brandt 

  Telephone: (410) 280-1001 

  Facsimile: (410) 280-1048 

If to Stockgroup: 

Stockgroup 

  500 – 750 West Pender Street 

  Vancouver, British Columbia 

  V6C 2T7 

  Attention: Susan Lovell 

  Telephone: (604) 331-0995 x 123 

  Facsimile: (604) 331-1194 

or such other address or facsimile number as such party may hereafter
  specify in writing for the purpose by notice to the other parties hereto. 

          14.
  Amendment And Waiver. This Agreement may be amended, modified, superseded
  or canceled, and any of the terms, covenants, representations, warranties or
  conditions hereof may be waived, only by a written instrument executed by the
  parties hereto, or, in the case of a waiver, by or on behalf of the party waiving
  compliance. The failure of any party at any time or times to require performance
  of any provision hereof shall in no manner affect the right at a later time
  to enforce the same. No waiver by any party of any condition, or of any breach
  of any term, covenant, representation or warranty contained in this Agreement,
  in any one or more instances, shall be deemed to be or construed as a further
  or continuing waiver of any such condition or breach or a waiver of any other
  condition or of any breach of any other term, covenant, representation or warranty.

          15.
  Interpretation. The headings and captions contained in this Agreement
  and in Annex A attached hereto are for reference purposes only
  and shall not affect in any way the meaning or interpretation of this Agreement.
  The use of the word “including” and all variants thereof herein shall
  mean “including without limitation.” 16. No Strict Construction.
  The language used in this Agreement shall be deemed to be the language chosen
  by the parties hereto to express their mutual intent, and no rule of strict
  construction shall be applied against any person. 

          17.
  Entire Agreement. This Agreement, the Purchase Agreement and the other
  agreements contemplated therein contain the entire agreement and understanding
  between the 

	Transition Services Agreement between TCS and Stockgroup 	January 24, 2007 	Page 4 of 7 

parties hereto with respect to the subject matter hereof and
  supersede all prior agreements and understandings, whether written or oral,
  relating to such subject matter. 

          18.
  Relationship of Parties. Except as specifically provided herein, none
  of the parties shall act or represent or hold itself out as having authority
  to act as an agent or partner of the other parties, or in any way bind or commit
  the other party to any obligations. Nothing contained in this Agreement shall
  be construed as creating a partnership, joint venture, agency, trust or other
  association of any kind, each party being individually responsible only for
  its obligations as set forth in this Agreement. 

          19.
  Force Majeure. If TCS or any of its Affiliates is prevented from complying,
  either totally or in part, with any of the terms or provisions of this Agreement
  by reason of fire, flood, hurricane, storm, strike, lockout or other labor trouble,
  any law, order, proclamation, regulation, ordinance, demand or requirement of
  any governmental authority, riot, war, rebellion or other causes beyond the
  reasonable control of TCS or its Affiliates or other acts of God, then upon
  written notice to Stockgroup, the affected provisions and/or other requirements
  of this Agreement shall be suspended during the period of such disability and
  TCS and its Affiliates shall have no liability to Stockgroup any of their respective
  Affiliates or any other party in connection herewith. TCS shall use all commercially
  reasonable efforts to remove such disability within thirty (30) days of giving
  notice of such disability. 

[END OF PAGE] 

  [SIGNATURE PAGES FOLLOW] 

	Transition Services Agreement between TCS and Stockgroup 	January 24, 2007 	Page 5 of 7 

          IN
  WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
  duly authorized representatives as of the date and year first set forth above.

	 	TELECOMMUNICATION SYSTEMS, 
	 	INC. 
	 	  
	 	  
	 	  
	 	By: ________________________________________
	 	       Name:
    
	 	       Title: 
	 	  
	 	STOCKGROUP INFORMATION 
	 	SYSTEMS INC,. 
	 	  
	 	  
	 	  
	 	By: ________________________________________
	 	       Mr. Marcus
      New 
	 	       CEO &
      President 

[Signature Page For Transition Services Agreement] 

ANNEX A 

  TO 

  TRANSITION SERVICES AGREEMENT

          This
  Annex A sets forth the transition services to be provided by TCS to Stockgroup
  relating to the operation of the Business. To the extent that transition services
  set forth on this Annex A may be provided to Stockgroup, such services will
  be provided in a commercially reasonable manner. In the event TCS reasonably
  determines that the performance of any of the transition services is commercially
  unreasonable and TCS informs Stockgroup it intends to cease the performance
  of such services, Stockgroup, on one hand, and TCS, on the other hand, shall
  enter into prompt and good faith negotiations to resolve TCS’s inability
  to provide the services in question. 

TRANSITION SERVICES AGREEMENT ANNEX A 

TCS to StockGroup 

          This
  Annex A sets forth the transition services to be provided by TCS to Stockgroup
  relating to the operation of the Business. To the extent that transition services
  set forth on this Annex A may be provided to Stockgroup, such services will
  be provided in a commercially reasonable manner. In the event TCS reasonably
  determines that the performance of any of the transition services is commercially
  unreasonable and TCS informs Stockgroup it intends to cease the performance
  of such services, Stockgroup, on one hand, and TCS, on the other hand, shall
  enter into prompt and good faith negotiations to resolve the inability of TCS
  to provide the services in question. 

          In
  all cases, TCS will migrate to hardware supplied by Stockgroup.

  	Item 

        
	Service 

        
	Price 

        
	Transition 

        Period 

	  	Human Resources 	  	  
	1) 	Since all Transferred Employees will be terminated
        effective with the Closing Date, there will be no need for a payroll transition.
        Terminating employees will receive a final pay check from TCS including
        a payout of all accrued and unused paid time off in accordance with company
        policy. 	No charge 	     
	2) 	Administration of Transferred Employees’
        401(k) Plan: All Transferred Employees will be terminated from TCS’s
        401(k) plan as a normal termination. Any Transferred Employee who wishes
        to roll over a balance into Stockgroup’s plan will do so as new hires
        of Stockgroup. Transferred Employees will also have the option to keep
        their balances in TCS’s 401(k) Plan in accordance with ERISA. 	No charge 	     
	3) 	Stock Option and Employee Stock Purchase Plans
        – TCS will terminate each Transferred Employee’s participation
        in said plans in accordance with both TCS’s customary policies and
        procedures, as well as the terms and conditions of the respective plans.
      	No charge 	     
	4) 	Transition of TCS employees to Stockgroup Benefit
        Programs - Transferred Employees will be terminated from all TCS Employee
        Benefits Plans effective as of the date of Closing. Health, dental and
        vision coverage shall continue in force through the end of the month in
        which the termination occurs. Transferred Employees will be eligible to
        purchase COBRA through TCS if they so choose. 	No charge 	     
	5) 	TCS will transfer copies of all employee HR
        files to Stockgroup. 	No charge 	1 Week of Closing 

Page 1 of 3 

Schedule H Annex A Transition Services Agmt tasks TCS to Stock
  Group 012207.doc 

  	  	Legal Services 	  	  
	1) 	TCS shall make available employees in its legal
        department, during normal business hours and on reasonable notice, to
        answer questions regarding the Assigned Contracts, as is deemed reasonable
        by TCS 	No charge 	1 Month 
	2) 	TCS shall use reasonable means to notify vendors
        and customers of the Business which exists as of the date of Closing of
        the sale of the Business to Stockgroup. 	No charge 	     
		Accounting Services 	$4,000/ Month, after one month
        of normal transition at no charge 	     
	1) 	TCS shall provide audited financial statements
        of the consolidated US, UK, Benelux and Spain Mobile Finance business
        for years 2005 and 2006. 	Estimated charge of £15,000 	Target within 45 days of closing 
	2) 	TCS shall provide Stockgroup with the databases
        directly related to the business provided that TCS shall have rights to
        request information based on those databases in the event of a future
        tax audit. 	Not separately Priced 	Within 2 Weeks of Closing 
	3) 	TCS will provide copies of invoices and other
        pertinent records that support the ending December 31, 2006 balance sheet
      	Not separately Priced 	Within 2 Weeks of Closing 
	4) 	 For up to two (2) months after closing,
          TCS will perform the following services for Stockgroup: 

        	TCS will support the closings for two (2) months and provide an
            EBITDA statement and balance sheet information. 
	Preparation of all required information for reporting of sales tax
            and communication taxes for two (2) months after closing. 
	Reports necessary for the day-to-day operation of the division as
            they currently exist in TCS systems. 
	Purchasing services required to operate the business 

	Not separately Priced 	As Requested 

Page 2 of 3 

Schedule H Annex A Transition Services Agmt tasks TCS to Stock
  Group 012207.doc 

  	  	MIS 	  	  
	1) 	TCS shall work with Stockgroup to ensure that
        all network access and cutover to Stockgroup network systems, e-mail,
        etc. will be addressed to maintain the proper security between Stockgroup
        and TCS networks. 	$3,000/ Month, after
        

        one month of 

        normal 

        transition at 

        no charge 	1 Month 
	2) 	TCS will provide Stockgroup transition services
        to support the network and access to necessary applications: 

                •   Telephony
        and related support 
        
        •   Desktop applications 
        
        •   E-mail Services. 
        
        •   Remote access: VPN (Network) and Outlook Web Access
        (OWA). 
         •  
        Data storage desk top support and print services for employees and departments. 

                •   Internet
        access. 
         •  
        Wireless LAN. 	1 Month 
	3) 	TCS shall provide Website hosting as it exists
        at the time of this executed TSA for the following sites, and will provide
        the site 

        content in an agreed upon format prior to the end of the TSA term. Some
        of these sites may not be active, but the content will be 

        transitioned if required: 

                       
        a.    http://rcs.reuters.com 

                       
        b.    http://ota.marketstreamlive.com 

                       
        c.    http://mobeoweb.com/mcpweb 
	$9,167.00/ 

        Month 

        $65/Hr. T&M	3 Months
	4) 	

        TCS shall provide hosting services and database support for the following
        services as they exist at the time of this executed TSA. 

        Assistance with significant upgrades/changes to the system will be performed
        on a Time and Materials basis, or through a separate 

        agreement. 

                       
        a.    RMDS Based MarketStream 

                       
        b.    BridgeFeed Based MarketStream 

                       
        c.    Hosted BES/Exchange for UK MarketStream 

                       
        d.    MarketClip 

                       
        e.    MarketClip Plus 

                       
        f.    1-Way Pager Products 

                       
        g.    2-Way Pager Products 

                       
        h.    Mobile Finance specific business systems 	3 Months 

	5) 	TCS shall provide building badge access services
        as they exist at the time of this executed TSA. 	No Charge 	3 Months 
	6) 	TCS shall provide Stockgroup access to the Aether
        Instant Messaging (AIM) client through March 31, 2007. 	No Charge 	Through March 31, 2007 

Page 3 of 3 

Schedule H Annex A Transition Services Agmt tasks TCS to Stock
  Group 012207.doc 

Schedule I 

Disclosure Schedule 

	6.3(b)    Noncontravention 	NONE 
	 	 
	6.5          Title
      to Assets 	NONE 
	 	 
	6.10        Title to Acquired
      Assets 	NONE 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 1 of 12 

6.11 Subsidiaries 

  	

        Company Name 	

        Previous Name(s) 	Registration 

        Number 	Date of 

        Incorporation 	

        Registered Office Address 	Authorized Share 

        Capital 	Issued Share 

        Capital 	

        Directors 	

        Shareholder 
	  	  	  	  	  	  	  	  	  
	

        

        TeleCommunication Systems Ltd. 	Aether Management Services Ltd. 

        Sila Management Services Ltd. 

        Higherlinks Ltd. 	

        

        03968661 	

        

        10-Apr-00 	6 Dyers Buildings 

        Holburn 

        London EC1N 2JT 	1,000,000 

        Ordinary Shares 

        £1.00 each 	800,001 

        Ordinary Shares 

        £1.00 each 	

        Thomas Brandt 

        Maurice Tosé 	

        TeleCommunication 

        Systems (Holdings) Ltd. 
	

        

        

        Aether Systems (UK) Ltd. 	

        

        Sila Communications (UK) Ltd. 

        Futures Pager Ltd. 	

        

        

        01831719 	

        

        

        11-Jul-84 	

        6 Dyers Buildings 

        Holburn 

        London EC1N 2JT 	1,000 A 

        9,000 B 

        Ordinary Shares 

        £1.00 each 	100 A 

        970 B 

        Ordinary Shares 

        £1.00 each 	

        

        Thomas Brandt 

        Maurice Tosé 	

        

        TeleCommunication 

        Systems Ltd. 
	

        

        TeleCommunication Systems 

        Iberian, SA 	Aether Systems SA 

        Sila Communications SA 

        Sila Communications Spain SA 

        IFX Finanzas Espana SA 	

        

        

        A81968760 	

        

        

        6-Mar-98 	

        

        Paseo Castellana 161 

        28046 Madrid, Spain 	

        

        25,000 

        Ordinary Shares 	

        

        25,000 

        Ordinary Shares 	

        

        Thomas Brandt 

        Maurice Tosé 	

        

        TeleCommunication 

        Systems (Holdings) Ltd. 
	

        

        TeleCommunication Systems 

        Benelux BV 	Aether Systems Benelux BV 

        IFX (The Netherlands) BV 

        Sila Communication Systems 

        Benelux BV 	

        

        33297036 

        (BV #: 606796) 	

        

        

        14-Oct-97 	

        

        Joop Geesingkweg 901-999 

        1096AZ Amsterdam 	

        €91,000 of 901 

        Ordinary Shares 

        €100 each 	

        €18,200 of 182 

        Ordinary Shares 

        €100 each 	

        Charles Ancher 

        Thomas Brandt 

        Maurice Tosé 	

        

        TeleCommunication 

        Systems (Holdings) Ltd. 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 2 of 12 

6.12 Statement of Net Assets

Schedule 6.12 

  Mobile Finance November 30 Statement of Net Assets 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 3 of 12 

	6.13 	Events Subsequent to Most Recent Fiscal Quarter
        End
	 
	 	 (a) through (j) 	NONE
	  	 	  	  
		(k) 	TCS and FT Interactice Data (Europe) Ltd (“Comstock”)
      have verbally agreed to settle a dispute over the termination of a data
      feed agreement. The verbally agreed upon settlement terms require TCS to
      pay Comstock’s invoices for service through October 2006 and Comstock
      agrees to terminate the data feed agreement at the end of October 2006.
    	
	  	 	  	  
	  	(l) 	through (w) 	NONE 
	  	 	  	  
	  	 	  	  
	  	 	  	  
	6.14 	 	Undisclosed Liabilities 	NONE 

	6.16 	 Tax Matters

	 	  	Company 	Jurisdiction 
	 	(d) 	TCS Limited 	England 
	 	  	Benelux 	Netherlands 
	 	  	Spain 	Spain 

		 All of the financial statements used to prepare tax
        returns were audited by TCS’s independent auditors. None of the tax
        returns has been audited by the respective taxing authorities and TCS
        is not aware of any impending audit of tax returns.

	 	 
	6.17 	 Real Property

	 	(b) 	1) 	Paseo de la Castellana, 161-12A 
	 	  	  	28046 Madrid, Spain 
	 	  	  	Lease Agreement dated 23 October 1996 (in Spanish)
      (the “Madrid 
	 	  	  	Lease”) 
	 	  	2) 	6 Dyers Building 
	 	  	  	Holburn, London, EC1N2JT, England 
	 	  	  	Collin Estates Limited to Synamic Limited Lease
      of Number 6 Dyers 
	 	  	  	Buildings dated 14 January 1999 (the “UK
      Lease”) 
	 	  	3) 	11460 Cronridge Drive 
	 	  	  	Owings Mills, Maryland, 21117 USA 
	 	  	  	Sublease Agreement set forth in Schedule F to
      the Purchase Agreement 
	 	  	  	  
		(b)(ii) 		per Article 9 of the Madrid Lease, the landlord
      must consent to the assignment of the lease. 
	 	  	  	
		(b)(viii) 		The Iberian entity has an informal arrangement
      with a third party who shares space and pays rent to Iberian for the leased
      space set forth in Section 6.17(b) of this Disclosure Schedule. 
	 	  	  	  
	 	(c) 	  	NONE 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 4 of 12 

	6.18 	 Intellectual Property

	 	(a) 	 (i) Trademarks: Include by reference here only the registered
        marks set forth on Schedule B (List of Trademarks) to Purchase Agreement.

	 		 (ii) Domain Names:

	 	1. 	 docupro.com

	 	2. 	 marketclip.com

	 	3. 	 pocketfutures.com

	 	4. 	 Marketstreamlive.com

	 	5. 	 Wirelessdatascreen.com

	 	6. 	 Portabledatascreen.com

	 	7. 	 Mobiquote.com

	 	8. 	 Gotxt.com

	 	(b) 	 Proprietary software (including source code) for which
        TCS owns the intellectual property rights to includes:

	 	1. 	 ASTRO/DINO/SCOOBY (customized Access 97 apps)

	 	2. 	 TCS intranet site for marketStream support (maintained
        by Dave Clarke)

	 	3. 	 FX Alert

	 	4. 	 Energy Pager/Energy Alert

	 	5. 	 Scrappy Pager/Scrappy

	 	6. 	 PocketFutures

	 	7. 	 MarketClip

	 	8. 	 MarketClip Plus

	 	9. 	 Wireless Datascreen (including Generic Real-time Information
        Manager)

	 	10. 	 MiniTerminal (including IFX)

Licensed software programs, products
  and services which are material to the uninterrupted or unimpeded operation
  of the Business that TCS licenses from third parties includes: 

	 	1. 	 Server and Client Software licenses underlying the marketStream
        service all as more specifically set forth in the Fourth Amendment and
        Restatement of the Software License Agreement between Imperial Software
        Technology Limited (IST) and TeleCommunication Systems Limited dated May
        31, 2006 (the “IST License Agreement”)

	 	2. 	 Solomon 4 v2.06 (customized)

	 	3. 	 Citrix

	 	4. 	 Reuters 3000Xtra HTA software v5

	 	5. 	 Reuters 3000Xtra Deployed (feed software) v5

	 	6. 	 Reuters Terminal software v3.91

	 	7. 	 Reuters Messenger software

	 	8. 	 Reuters eDAD datafeed access declaration software

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 5 of 12 

	 	9. 	 Cognos ReportNet (for reporting from mStream production);
        parts include: Configuration Manager, Framework Manager and Report Studio

	 	10. 	 Motorola CP-1250 pager programming software

	 	11. 	 Access ARIBA site

	 	12. 	 Bridgefeed BFClient App

Excluded software (“Excluded
  Software”) includes: 

	 	1. 	 Except to the extent set forth in Schedule H (Transition
        Services Agreement), access to the TSDA intranet site (used for provisioning
        AIM-based applications including marketClip Plus) (uses AIM database)

	 	2. 	 POS Partner (credit card processing software for Solomon)
        by Merchant e Solutions

	 	3. 	 Remedy software product and the Customer Support Software
        product that is developed in Remedy and owned by TCS to provide customer
        support and trouble ticket tracking and resolution (“CSS Support”)

	 	4. 	 UNICORN billing system

	 	5. 	 StarTeam change and configuration management software

	 	6. 	 Visual C++ 6.0 Enterprise Edition

	 	7. 	 Installshield 5.5 Professional Edition

	 	(d) 	Encumbrances 	NONE 

	 	(e) 	 Royalty Payment

	 		1. 	 Payments to Imperial Software Technology Limited
        (IST) for the license to use and redistribute components of marketStream
        service all as more specifically set forth in Exhibit C (Fees and Costs)
        to the Fourth Amendment and Restatement of the Software License Agreement
        between Imperial Software Technology Limited (IST) and TeleCommunication
        Systems Limited dated May 31, 2006 as amended by the Fifth Amendment dated
        January 15, 2007 (the “IST License Agreement”).

	 		2. 	 Commission payable to sales agents as set
        forth in their respective agreements:

	 			a. 	 Agency agreement executed by and between Chris Parker
        and mobeo, Inc. dated 8 Oct. 1999 (currently assigned to TeleCommunication
        Systems, Inc.)

	 			b. 	 Consultancy Agreement executed by and between Gavin
        Brown and Aether Systems (UK) Ltd dated 1 July 2003 (currently assigned
        to TeleCommunication Systems Ltd.)

	 			c. 	 There are currently four agency agreements that are
        being negotiated but as yet unsigned. Each of these agency agreements
        would pay commissions on marketStream customers. These agreements are
        being negotiated with Gavin Brown, Peter Colleoni, Peter Sandstrom, and
        Patrick Heisch.

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 6 of 12 

	 	3. 	 TCS makes an annual royalty payment of approximately
        USD$3,000.00 to Dealing Object Technology for a software license (run-time
        version only) for components that are used by TCS’ legacy pager products
        in the United States.

6.19   Sufficiency of Assets 

          The
  Excluded Software set forth in Section 6.18(b) of the Disclosure Schedule is
  included here by reference. 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 7 of 12 

6.22 Contracts 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 8 of 12 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 9 of 12 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 10 of 12 

	6.22(b) 	Schedule O (Customer Lists) is hereby incorporated
      by reference. 
	 	 
	6.22(g) 	Employment Agreements for: 

Julius Beltrame 

  Wan-Tak Wong 

  Rebecca Henry 

  Christopher Lobb 

  Alexander Stephenson 

  Charles Ancher 

  Thomas Jaehnigen 

  Rebecca Sargent 

  Jennifer Gray 

  Charles Ikard 

  Maryanne Murphy 

  Gonzalo Esteban Cruz 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 11 of 12 

6.28   Employee Benefits Plans 

	Benelux 	  
	  	  
	Income Protection 	Amersfoort 
	Pension 	Gererali 

	Great Britain 	  	  
	  	  	  
	Group Critical Illness 	Canada Life 	C94021 
	Group Income Protection 	UNUM 	914772 
	Group Life Assurance 	Canada Life 	G721472/1/L 
	Group Personal Pension 	Scottish Equitable 	76384 
	Group Permanent Health Insurance 	BUPA 	20/23679600007 

	Purchase Agreement TCS Stockgroup Schedule I – Disclosure
      Schedule 	January 24, 2007 	Page 12 of 12 

SCHEDULE J 

Trademark Assignment 

WHEREAS, TeleCommunication Systems, Inc., a Maryland corporation,
  with offices at 275 West Main Street, Annapolis, Maryland (“ASSIGNOR”)
  owns certain trademarks and/or service marks, and applications and/or registrations
  for such marks, as listed in Attachment A attached hereto and incorporated herein
  by this reference (“MARKS”); 

WHEREAS, Stockgroup Systems Ltd., a Nevada corporation
  (“ASSIGNEE”), desires to acquire all of the right, title and
  interest of ASSIGNOR in, to and under the MARKS, together with the goodwill
  of the business symbolized by the MARKS; 

WHEREAS, ASSIGNOR and ASSIGNEE have entered into a certain
  Asset Purchase Agreement, dated as of January 24, 2007 (the “PURCHASE
  AGREEMENT”), assigning, among other things, all right, title and interest
  in and to the MARKS from ASSIGNOR to ASSIGNEE; 

WHEREAS, ASSIGNEE is a successor to the business of the
  ASSIGNOR to which the MARKS pertain.

NOW, THEREFORE, in consideration of the Asset Purchase
  Price (as defined in the Purchase Agreement) and other good and valuable consideration
  paid by ASSIGNEE to ASSIGNOR, the receipt and sufficiency of which hereby is
  acknowledged, ASSIGNOR does hereby assign to ASSIGNEE its entire right, title
  and interest in and to the MARKS, and to the applications and/or registrations
  for the MARKS, together with the goodwill of the business symbolized by the
  MARKS and the portion of the business of the ASSIGNOR to which the MARKS pertain,
  including the right to sue for and collect damages incurred as a result of any
  past, present or future infringement, misappropriation or violation of rights
  related to the MARKS.

IN WITNESS WHEREOF, ASSIGNOR has caused this Assignment
  to be duly executed by an authorized officer on this 31st day of January, 2007.

TELECOMMUNICATION SYSTEMS, INC. 

 

By:      _____________________________________

Name: _____________________________________

Title:   _____________________________________

ATTACHMENT A 

Registered Trademarks

  	Mark 
	Country 
	Filing 

        Date/Status 	Reg. No. 
	Int’l Class 
	Designation 

	POCKETFUTURES 

        

        
	US 

        

        
	6/6/97; registered 

        12/21/99. 

        Renewal due 

        12/21/08-09 	2,302,505 

        

        
	36 

        

        
	® 

        

        

	SCRAPPY 

        

        

        

        
	US 

        

        

        

        
	5/27/97; 

        registered 

        6/16/98; renewal 

        due between 

        6/16/07 and 

        6/16/08. 	2,165,800 

        

        

        

        
	9 

        

        

        

        
	® 

        

        

        

        

	SCRAPPY PAGER 

        

        

        

        
	US 

        

        

        

        
	5/27/97; 

        registered 

        5/26/98; renewal 

        due between 

        5/26/07 and 

        5/26/08. 	2,160,599 

        

        

        

        
	35 

        

        

        

        
	® 

        

        

        

        

SCHEDULE K 

Domain Name Assignment 

This Domain Names Assignment is delivered pursuant to the Closing
  under that certain Purchase Agreement (the “Agreement”)
  dated as of January 24, 2007, between TeleCommunication Systems, Inc., as the
  “Seller”, and Stockgroup Systems Ltd., as the “Purchaser”.
  Capitalized terms used in this Domain Names Assignment have the same meanings
  given to them in the Agreement. 

The Seller has delivered this instrument signed by the Seller
  to enable the Purchaser to file it with any appropriate agency to indicate ownership
  of the intellectual property described below and for the other purposes set
  forth in this instrument. This instrument supplements and is in addition to
  all other rights of the Purchaser under the Agreement and other instruments
  of transfer delivered in connection with the Agreement. 

The Seller has adopted and registered the Internet Domain Names
  listed on the attached Attachment A (the “Domain Names”)
  with Network Solutions, Inc., Register.com or other registrars throughout the
  world (each a “Registrar”) on various dates. 

For good and valuable consideration, receipt of which the Seller
  acknowledges, and by signing and delivering this instrument, the Seller sells,
  assigns, transfers, conveys, and delivers to the Purchaser all of the Seller’s
  right, title and interest in and to the Domain Names and agrees as follows:

          1.     
  Successful Transfer. At the Closing Date or a commercially reasonable
  timeframe thereafter, the Seller shall complete, or cause to be completed, the
  formal transfer of the Domain Names to the Purchaser in accordance with the
  applicable Domain Names transfer procedure of each Registrar (the “Transfer
  Procedure”). 

                    (a)      The
  Seller agrees that, for no additional compensation, the Seller will execute
  any and all documents that may be necessary or appropriate to perfect the Purchaser’s
  rights in and to the Domain Names, including but not limited to all documents
  that may be necessary or appropriate to effect the formal transfer of the Domain
  Names to the Purchaser in accordance with the Transfer Procedure. In connection
  with the Transfer Procedure, the Seller will provide any information required
  or requested by the Registrar or the Purchaser, including but not limited to,
  the name or names identified by the Purchaser for billing, administrative and
  technical contacts. 

                    (b)      At
  any time, and from time to time after the Closing, the Seller agrees, promptly
  upon the Purchaser’s written request, to take any and all steps reasonably
  necessary to execute, acknowledge and deliver to the Purchaser any and all further
  instruments and assurances necessary to complete a Successful Transfer. “Successful
  Transfer” means for this purpose that Purchaser owns and is accurately
  recognized as the registrant of the Domain Names in the Network Solution, Inc.’s
  WHOIS database; that the Purchaser has all rights, title and interest in and
  to the Domain Names; and the Purchaser is able to use or allow others to use
  the Domain Names. 

- 2 -

          2.      Cease
  Use of Names. As of the Closing Date, the Seller will stop all use of the
  Domain Names for any purpose, including, but not limited to, use for an Internet
  site or for electronic mail. The Seller shall not adopt any new uses of the
  Domain Names. 

          3.      Non-Interference.
  Except as permitted under that certain Trademark Assignment Agreement executed
  between Seller and Purchaser on January 31, 2007, Seller agrees not to challenge
  or object to the Purchaser’s (a) right to register, use, own or transfer
  the Domain Names anywhere in the world, or (b) right to register, use, own or
  transfer any trademarks, service marks, Domain Names or trade names that include
  or consist of the Domain Names anywhere in the world. The Seller also agrees
  not to take any action that would interfere with any rights the Purchaser may
  have or acquire in the Domain Names and marks. 

          4.      Representations
  and Warranties. Seller represents and warrants to Purchaser as follows and
  acknowledges that Purchaser is relying on these representations and warranties
  in entering into this Agreement: 

	 	(a) 	 Seller is the sole registrant of the Domain Names and
        has sufficient authority and right to enter into this Domain Names Assignment
        and perform its obligations hereunder, and in particular, to transfer
        all title and ownership of the Domain Names and the Domain Names registration
        to Purchaser as provided in this Agreement, free and clear of all encumbrances;

	 	 	 
	 	(b) 	 As at the Closing Date, there is not outstanding or
        pending any proceeding under the Uniform Dispute Resolution Policy and
        there have been no third party claims or demands against Seller in connection
        with Seller’s registration and/or use of the Domain Names, including
        claims for infringement of third party trade-mark or other intellectual
        property rights;

	 	 	 
	 	(c) 	 There is no contract, option or any other right of any
        person binding upon Seller, or which at any time may become binding upon
        Seller, to sell, transfer, assign, license or in any other way dispose
        of or encumber the Domain Names or the Domain Names registration other
        than pursuant to the provisions of this Domain Names Assignment; and

	 	 	 
	 	(d) 	 Neither Seller nor any entity controlled by or under
        common control with Seller is the registrant or owner of any other Domain
        Names that is confusingly similar to the Domain Names.

          The
  undersigned has signed this Domain Names Assignment on January 31, 2007. 

[Remainder of page intentionally left blank; signature page
  to follow] 

- 3 -

TELECOMMUNICATION SYSTEMS, INC. 

 

By:      _____________________________________

Name: _____________________________________

Title:   _____________________________________

STATE OF MARYLAND COUNTY OF ANNE ARUNDEL 

On ____________________ before me, ______________________ (the
  undersigned notary), personally appeared _______________________ personally
  known to me (or proved to me on the basis of satisfactory evidence) to be the
  person whose name is subscribed to the within instrument and acknowledged to
  me that he executed the same in his authorized capacity, and that by his signature
  on the instrument the person, or the entity upon behalf of which the person
  acted, executed the instrument. 

WITNESS my hand and official seal. 

	 	 
	Notary Public 	(seal) 

ATTACHMENT A 

  	

        Domain Names 	Registration 

        Date 	Renewal 

        Date 	

        Registrant 
	docupro.com 	9/13/2002 	1/5/2011 	TeleCommunication Systems, Inc. 
	marketclip.com 	9/16/2002 	2/17/2007 	TeleCommunication Systems, Inc. 
	pocketfutures.com 	6/10/1997 	6/11/2007 	TeleCommunication Systems, Inc. 

SCHEDULE L 

Assignment and Assumption Agreement - General 

          This
  Assignment and Assumption Agreement (this “Assignment and Assumption
  Agreement”) is made and entered into as of January 31, 2007, TeleCommunication
  Systems, Inc., a Maryland corporation, with offices at 275 West Street, Annapolis,
  Maryland (“Assignor”), and Stockgroup Systems Ltd.,
  a Nevada corporation (“Assignee”). 

          WHEREAS,
  Assignor and Assignee are parties to that certain Asset Purchase Agreement,
  dated as of January 24, 2007 (the “Purchase Agreement”);
  WHEREAS, pursuant to the Purchase Agreement, Assignor has agreed to assign
  unconditionally and absolutely certain rights to Assignee in respect of certain
  agreements, and Assignee has agreed to assume certain obligations of Assignor
  in respect thereof.

          NOW,
  THEREFORE, for and in consideration of the premises and the mutual covenants
  contained herein, and for other good and valuable consideration, the receipt,
  adequacy and legal sufficiency of which are hereby acknowledged, the parties
  do hereby agree as follows:

          1.      Capitalized
  Terms. Capitalized terms used but not defined herein shall have the
  meanings for such terms that are set forth in the Purchase Agreement.

          2.      Assignment
  and Assumption. Assignor hereby assigns, sells, transfers and sets
  over (collectively, the “Assignment”) to Assignee all
  of Assignor’s right, title, benefit, privileges and interest in, to and
  under the agreements and contracts set out in Attachment A hereto (the “Assumed
  Benefits”), and all of Assignor’s burdens, obligations and
  liabilities in connection therewith (the “Assumed Liabilities”)
  which shall become due for payment, performance or discharge, from and after
  the Closing Date. Assignee hereby accepts the Assignment and assumes and agrees
  to observe and perform all of the duties, obligations, terms, provisions and
  covenants, and to pay and discharge all of the liabilities of Assignor to be
  observed, performed, paid or discharged in connection with such Assumed Liabilities
  from and after the Closing Date.

          3.      Excluded
  Liabilities. Nothing contained herein shall be construed to effect
  an assignment by Assignor or the assumption by Assignee of any of the Excluded
  Liabilities. 

          4.      Terms
  of the Purchase Agreement. The terms of the Purchase Agreement are
  incorporated herein by this reference. In the event of any conflict or inconsistency
  between the terms of the Purchase Agreement and the terms hereof, the terms
  of the Purchase Agreement shall govern. 

          5.      Further
  Actions. Each of the parties hereto covenants and agrees, at its own
  expense, to execute and deliver, at the request of the other party hereto, such
  further instruments of transfer and assignment and to take such other action
  as such other party may reasonably request to more effectively consummate the
  assignments and assumptions contemplated by this Assignment and Assumption Agreement.

2 

          6.     
  Successor and Assigns. All of the terms and provisions of this Assignment
  and Assumption Agreement shall be binding upon each party hereto and their respective
  successors and assigns, and shall inure to the benefit of each other party and
  its successors and assigns.

          7.      Governing
  Law. This Assignment and Assumption Agreement shall be governed by
  and construed in accordance with the laws of the State of New York.

          8.      Counterparts.
  This Assignment and Assumption Agreement may be signed in two or more counterparts,
  all of which, taken together, shall be deemed to constitute one original Assignment
  and Assumption Agreement.

          IN
  WITNESS WHEREOF, the parties have executed this Assignment and Assumption
  Agreement as of the date first above written.

	ASSIGNOR: 	ASSIGNEE: 
	 	 
	TELECOMMUNICATION SYSTEMS, 	STOCKGROUP SYSTEMS LTD., 
	INC., a Maryland corporation 	a Nevada corporation 
	 	 
	  	  
	By:      _____________________________________	By:      _____________________________________
	 	 
	Name: _____________________________________	Name: _____________________________________
	 	 
	Title:   _____________________________________	Title:   _____________________________________

ATTACHMENT A 

Assumed contracts and agreements include: 

Exchange and Data Feed Agreements 

	1. 	 Internet Redistribution Addendum Order Form dated June
        1, 2005 with Reuters.

	 	 
	2. 	 Internet Redistribution Addendum Order Form dated August
        31, 2005 with Reuters.

	 	 
	3. 	 Master Services Agreement dated August 3, 2003 with
        Reuters America LLC, as amended.

	 	 
	4. 	 Market Data Agreement dated January 29, 1999 with New
        York Mercantile Exchange.

	 	 
	5. 	 Market Databases Distribution Agreement dated November
        30, 2001 with Euronext, as amended.

	 	 
	6. 	 Market Data Dissemination Agreement dated April 1, 2004
        with Deutsch Borse AG.

	 	 
	7. 	 Information Distribution Agreement dated January, 2004
        with Chicago Mercantile Exchange.

	 	 
	8. 	 Market Data Vendor/Subvendor Agreement dated January
        1, 2000 with Chicago Board of Trade.

	 	 
	9. 	 Distribution Agreement dated April 10, 1995 with GovPx.

	 	 
	10. 	 Vendor Agreement for Level 1, Last Sale and NQDS Service
        dated August 5, 1998 with NASDAQ.

	 	 
	11. 	 Standard Market Data Vendor Agreement dated July 17,
        2000 with NYBOT.

	 	 
	12. 	 Agreement for Receipt and Use of Market Data dated March
        9, 2004 with New York Stock Exchange.

	 	 
	13. 	 Options Price Reporting Authority Vendor Agreement (Last
        Sale and Quotation Information) dated December 4, 1998 with Options Price
        Reporting Authority (including Dial-up Market Data Service Rider).

	 	 
	14. 	 Price Vendor Agreement dated March 7, 2000 with Singapore
        Stock Exchange Derivatives Trading Limited.

	 	 
	15. 	 Agreement dated June 4, 1998 with London Metal Exchange.

A-2 

Airtime Resale Agreements 

	16. 	 Resale Agreement dated March 30, 1999 with U.S. Mobility.

Distribution Agreements. 

	17. 	 Development License and Support Agreement dated June
        13, 2006 with Reuters.

SCHEDULE M 

General Assignment and Bill of Sale 

          1.      Sale
  and Transfer of Fixed Assets. For good and valuable consideration,
  the receipt, adequacy and legal sufficiency of which are hereby acknowledged,
  and as contemplated by Section 2.1 of that certain Asset Purchase Agreement
  dated as of January 24, 2007 (the “Purchase Agreement”),
  to which TeleCommunication Systems, Inc., a Maryland corporation, with offices
  at 275 West Street, Annapolis, Maryland (“Seller”),
  and Stockgroup Systems Ltd., a Nevada corporation (“Buyer”),
  are parties, Seller hereby sells, transfers, assigns, conveys, grants and delivers
  to Buyer and its successors and assigns, all of Seller’s right, title and
  interest in, under and to all of the fixed assets (the "Fixed Assets")
  set out in Attachment A hereto which form part of the Acquired Assets. 

          2.      Capitalized
  Terms. Capitalized terms used but not defined herein shall have the
  meanings ascribed to such terms in the Purchase Agreement.

          3.      Further
  Actions. Seller covenants and agrees to execute and deliver, at the
  reasonable request of Buyer, and to take such other action as Buyer may reasonably
  request to more effectively consummate the assignments contemplated by this
  General Assignment and Bill of Sale. 

          4.      Limited
  Power of Attorney. Subject to Section 9.4 (Procedure for Indemnification
  - Third Party Claims) of the Purchase Agreement, Seller hereby constitutes and
  appoints Buyer as its true and lawful agent and attorney in fact, with full
  power of substitution and resubstitution, in whole or in part, in the name and
  stead of Seller but on behalf and for the benefit of Buyer and its successors
  and assigns, and limited solely to the following from time to time: 

                    (a)      to
  demand, receive and collect any and all of the Fixed Assets being delivered
  hereby and to give receipts and releases for and with respect to the same, or
  any part thereof; 

                    (b)     
  to institute and prosecute, in the name of the Seller or otherwise,
  any and all proceedings at law, in equity or otherwise, that Buyer or its successors
  and assigns may deem proper in order to collect or reduce to possession any
  of the Fixed Assets being delivered hereby and in order to collect or enforce
  any claim or right of any kind hereby assigned or transferred, or intended so
  to be; and 

                    (c)      to
  do all things legally permissible, required or reasonably deemed by Buyer to
  be required to recover and collect the Fixed Assets being delivered hereby and
  to use Seller’s name in such manner as Buyer may reasonably deem necessary
  for the collection and recovery of same, Seller hereby declaring that the foregoing
  powers are coupled with an interest and are and shall be irrevocable by Seller.

          5.      Terms
  of the Purchase Agreement. The terms of the Purchase Agreement are
  incorporated herein by this reference. In the event of any conflict or inconsistency
  between the 

terms of the Purchase Agreement and the terms hereof, the terms
  of the Purchase Agreement shall govern. 

          IN
  WITNESS WHEREOF, Seller has executed this General Assignment and Bill of
  Sale as of January 31, 2007. 

TELECOMMUNICATION SYSTEMS, INC.,
  a Maryland Corporation 

 

By:      _____________________________________

Name: _____________________________________

Title:   _____________________________________

AGREED AND ACKNOWLEDGED BY: 

STOCKGROUP SYSTEMS LTD., a Nevada Corporation 

 

By:      _____________________________________

Name: _____________________________________

Title:   _____________________________________

2 

ATTACHMENT A 

Fixed Assets include: 

	1. 	 deposits on exchange fees;

	 	 
	2. 	 the Accounts Receivable in respect of the Acquired Assets;

	 	 
	3. 	 the Intellectual Property (including but not limited
        to pager technology), except as otherwise set out in the Trademark Assignment
        and Domain Name Assignment;

	 	 
	4. 	 the inventory, maintenance and operating supplies used
        exclusively in the Business as currently operated;

	 	 
	5. 	 the books and records of the Business;

	 	 
	6. 	 all data, records, files, manuals, blueprints and other
        documentation related exclusively to the Acquired Assets and the operation
        of the Business including service and warranty records, sales promotion
        materials, creative materials, art work, photographs, public relations
        and advertising material, studies, reports, correspondence and other similar
        documents and records used exclusively in the Business, whether in electronic
        form or otherwise;

	 	 
	7. 	 all client, customer and supplier lists, telephone numbers
        and electronic mail addresses with respect to past, present or prospective
        clients, customers and suppliers relating to the Business;

	 	 
	8. 	 all catalogues and brochures relating exclusively to
        the Business, purchasing records and records relating to suppliers;

	 	 
	9. 	 all goodwill incident to the Business;

	 	 
	10. 	 all permits, licenses, approvals, registrations, qualifications,
        rights, variances, certificates, consents and other approvals of every
        nature whatsoever required by, or issued to the Seller by any governmental
        authority; and

	 	 
	11. 	 Mobile Finance Assets (US), as follows:

  	Mobile Finance Assets – US 	Page 
	Technology Equipment – NOC Servers 	A-3 

  	Equipment on lease by TCS included in Servers and PCs 	A-4 
	Desk and laptop PCs 	A-5 
	PC Software Licenses 	A-6 
	Wireless Equipment 	A-7 
	Office Furnishings 	A-12 

A-2 

SCHEDULE N 

ASSIGNMENT AND ASSUMPTION AGREEMENT – EIGHT BLACK 

          This
  Assignment and Assumption Agreement (this “Assignment and Assumption
  Agreement”) is made and entered into as of January 31, 2007, TeleCommunication
  Systems, Inc., a Maryland corporation, with offices at 275 West Street, Annapolis,
  Maryland (“Assignor”), and Stockgroup Media Inc., a
  British Columbia corporation (“Assignee”). 

          WHEREAS,
  Assignor and Assignee are parties to that certain Asset Purchase Agreement,
  dated as of January 24, 2007 (the “Purchase Agreement”);
  WHEREAS, pursuant to the Purchase Agreement, Assignor has agreed to assign
  unconditionally and absolutely certain rights to Assignee in respect of certain
  agreements, and Assignee has agreed to assume certain obligations of Assignor
  in respect thereof.

          NOW,
  THEREFORE, for and in consideration of the premises and the mutual covenants
  contained herein, and for other good and valuable consideration, the receipt,
  adequacy and legal sufficiency of which are hereby acknowledged, the parties
  do hereby agree as follows:

          1.      Capitalized
  Terms. Capitalized terms used but not defined herein shall have the
  meanings for such terms that are set forth in the Purchase Agreement.

          2.      Assignment
  and Assumption. Assignor hereby assigns, sells, transfers and sets
  over (collectively, the “Assignment”) to Assignee all
  of Assignor’s right, title, benefit, privileges and interest in, to and
  under the agreements and contracts set out in Attachment A hereto (the “Assumed
  Benefits”), and all of Assignor’s burdens, obligations and
  liabilities in connection therewith (the “Assumed Liabilities”)
  which shall become due for payment, performance or discharge, from and after
  the Closing Date. Assignee hereby accepts the Assignment and assumes and agrees
  to observe and perform all of the duties, obligations, terms, provisions and
  covenants, and to pay and discharge all of the liabilities of Assignor to be
  observed, performed, paid or discharged in connection with such Assumed Liabilities
  from and after the Closing Date.

          3.      Terms
  of the Purchase Agreement. The terms of the Purchase Agreement are
  incorporated herein by this reference. In the event of any conflict or inconsistency
  between the terms of the Purchase Agreement and the terms hereof, the terms
  of the Purchase Agreement shall govern. 

          4.      Further
  Actions. Each of the parties hereto covenants and agrees, at its own
  expense, to execute and deliver, at the request of the other party hereto, such
  further instruments of transfer and assignment and to take such other action
  as such other party may reasonably request to more effectively consummate the
  assignments and assumptions contemplated by this Assignment and Assumption Agreement.

          5.      Successor
  and Assigns. All of the terms and provisions of this Assignment and
  Assumption Agreement shall be binding upon each party hereto and their respective
  successors and assigns, and shall inure to the benefit of each other party and
  its successors and assigns.

2 

          6.      Governing
  Law. This Assignment and Assumption Agreement shall be governed by
  and construed in accordance with the laws of the State of New York.

          7.     
  Counterparts. This Assignment and Assumption Agreement may be signed
  in two or more counterparts, all of which, taken together, shall be deemed to
  constitute one original Assignment and Assumption Agreement.

          IN
  WITNESS WHEREOF, the parties have executed this Assignment and Assumption
  Agreement as of the date first above written.

	ASSIGNOR: 	ASSIGNEE: 
	 	 
	TELECOMMUNICATION SYSTEMS, 	STOCKGROUP MEDIA INC., 
	INC., a Maryland corporation 	a British Columbia corporation 
	  	  
	 	 
	By:      _____________________________________	By:      _____________________________________
	 	 
	Name: _____________________________________	Name: _____________________________________
	 	 
	Title:   _____________________________________	Title:   _____________________________________

ATTACHMENT A 

Assumed contracts and agreements include: 

Distribution Agreements. 

	1. 	 MarketStream Distribution Agreement between Eight Black
        Partnership Pty. Ltd. and TeleCommunication Systems, Inc. effective as
        of March 4, 2006.

Schedule P 

U.S. SECURITIES LAW QUESTIONNAIRE

The following questionnaire is to be completed by TeleCommunication
  Systems, Inc. (the “Subscriber”) in furtherance of a share purchase
  transaction set out in a purchase agreement dated January 24, 2007, (the “Agreement”)
  between Stockgroup Information Systems Inc. (the “Company”),
  the Subscriber and others. This questionnaire will be relied upon by the Company
  to complete the transactions contemplated in the Agreement. All capitalized
  terms herein, unless otherwise defined, have the meanings ascribed thereto in
  the Agreement. 

	1. 	 The Subscriber covenants, represents and warrants
        to the Company that:

	 	 	 
		(a) 	 the Subscriber is a U.S. Person;

	 	 	 
		(b) 	 the Subscriber has such knowledge and experience in
        financial and business matters as to be capable of evaluating the merits
        and risks of the transactions detailed in the Subscription Agreement and
        it is able to bear the economic risk of loss arising from such transactions;

	 	 	 
		(c) 	 the Subscriber is acquiring the Securities for investment
        only and not with a view to resale or distribution and, in particular,
        it has no intention to distribute either directly or indirectly any of
        the Securities in the United States or to U.S. Persons; provided, however,
        that the Subscriber may sell or otherwise dispose of any of the Securities
        pursuant to registration thereof pursuant to the Securities Act of
        1933 (the “1933 Act”) and any applicable State securities
        laws unless an exemption from such registration requirements is available
        or registration is not required pursuant to Regulation S under the 1933
        Act or registration is otherwise not required under this 1933 Act;

	 	 	 
		(d) 	 the Subscriber satisfies one or more of the categories
        indicated below (please check the appropriate box):

	[X]	Category 1 	 An organization described in
        Section 501(c)(3) of the United States Internal Revenue Code, a corporation,
        a Massachusetts or similar business trust or partnership, not formed for
        the specific purpose of acquiring the Securities, with total assets in
        excess of US $5,000,000; 

	 	  	  

	[   ]	Category 2 	 A natural person whose individual
        net worth, or joint net worth with that person’s spouse, on the date
        of purchase exceeds US $1,000,000; 

	 	  	  

	[   ]	Category 3 	 A natural person who had an
        individual income in excess of US $200,000 in each of the two most recent
        years or joint income with that person’s spouse in excess of US $300,000
        in each of those years and has a reasonable expectation of reaching the
        same income level in the current year; 

	 	  	  

	[   ]	Category 4 	 A “bank” as defined
        under Section (3)(a)(2) of the 1933 Act or savings and loan association
        or other institution as defined in Section 3(a)(5)(A) of the 1933 Act
        acting in its individual or fiduciary capacity; a broker dealer registered
        pursuant to Section 15 of the Securities Exchange Act of 1934 (United
        States); an insurance company as defined in Section 2(13) of the 1933
        Act; an investment company registered under the Investment Company
        Act of 1940 (United States) or a business development company as defined
        in Section 2(a)(48) of such Act; a Small Business Investment Company licensed
        by the U.S. Small Business Administration under Section 301(c) or (d)
        of the Small 

- 2 -

			 Business Investment Act of
        1958 (United States); a plan with total assets in excess of $5,000,000
        established and maintained by a state, a political subdivision thereof,
        or an agency or instrumentality of a state or a political subdivision
        thereof, for the benefit of its employees; an employee benefit plan within
        the meaning of the Employee Retirement Income Security Act of
        1974 (United States) whose investment decisions are made by a plan
        fiduciary, as defined in Section 3(21) of such Act, which is either a
        bank, savings and loan association, insurance company or registered investment
        adviser, or if the employee benefit plan has total assets in excess of
        $5,000,000, or, if a self- directed plan, whose investment decisions are
        made solely by persons that are accredited investors; 

	 	  	 

	[   ]	Category 5 	 A private business development
        company as defined in Section 202(a)(22) of the Investment Advisers
        Act of 1940 (United States); 

	 	  	 

	 [   ]	Category 6 	 A director or executive officer
        of the Company; 

	 	  	 

	[   ]	Category 7 	 A trust with total assets in
        excess of $5,000,000, not formed for the specific purpose of acquiring
        the Securities, whose purchase is directed by a sophisticated person as
        described in Rule 506(b)(2)(ii) under the 1933 Act; or 

	 	  	 

	[   ]	Category 8 	 An entity in which all of the equity owners
        satisfy the requirements of one or more of the foregoing categories; and
      

	 	(e) 	 the Subscriber is not acquiring the Securities as a
        result of any form of general solicitation or general advertising including
        advertisements, articles, notices or other communications published in
        any newspaper, magazine or similar media or broadcast over radio, or television,
        or any seminar or meeting whose attendees have been invited by general
        solicitation or general advertising.

	                         
      IN WITNESS WHEREOF, the undersigned has executed this Questionnaire as of
      the 31st day of January, 2007. 

	If a Corporation, Partnership or Other Entity:
    	 	If an Individual: 
	 	 	 
	TeleCommunication Systems, Inc. ______________________	 	  
	Print or Type Name of Entity 	 	Signature 
	 	 	 
	________________________________________________	 	 
	Signature of Authorized Signatory 	 	Print or Type Name 
	 	 	 
	Corporation ______________________________________	 	  
	Type of Entity 	 	Social Security/Tax I.D. No.

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