Document:

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                                                                     Exhibit 4.7

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS
WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "ACT") OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD,
TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO
(1) REGISTRATION IN COMPLIANCE WITH SUCH ACT AND SUCH STATE LAWS OR (2) AN
OPINION OF COUNSEL FOR THE COMPANY TO THE EFFECT THAT SUCH REGISTRATION IS NOT
REQUIRED.

                                 FORM OF WARRANT
         For the Purchase of Common Stock, Par Value $0.001 per Share,
                               of CellPoint Inc.

                Void After 5 P.M., New York time, on ____________

Original Date of Issuance:  ________, 2001                    Warrant No. ______

                  For value received, CellPoint Inc., a Nevada corporation (the
"CORPORATION"), hereby grants to _______ (the "HOLDER"), or registered assigns,
subject to the terms and conditions hereinafter set forth, on or after
____________, 2001 and at any time prior to 5:00 P.M., New York time, on
______________________, but not thereafter, the right to purchase from the
Corporation _____ shares (the "SHARES") of Common Stock, par value $0.001 per
share (the "COMMON STOCK") of the Corporation upon payment to the Corporation of
$____ per share (the "EXERCISE PRICE") if and to the extent this Warrant is
exercised, in whole or in part, during the period this Warrant remains in force,
subject in all cases to adjustment as provided in the following sentence and in
Article II hereof, and to deliver a certificate or certificates representing the
Shares so purchased, upon presentation and surrender to the Corporation of this
Warrant, with the form of subscription attached hereto duly executed, and
accompanied by payment of the Exercise Price of each Share purchased.

                                     ARTICLE
                                       I.
                              TERMS OF THE WARRANT

         A. Subject to the provisions of Sections I.E. and III.A. hereof, this
Warrant may be exercised at any time and from time to time after
_______________, 2001 (the "EXERCISE COMMENCEMENT DATE"), but no later than 5:00
P.M., New York time, ______________________ (the "EXPIRATION TIME"). If this
Warrant is not exercised on or before the Expiration Time it shall become void,
and all rights hereunder shall thereupon cease.

         B. 1. The Holder may exercise this Warrant, in whole or in part, upon
      surrender of this Warrant and a notice of exercise in the form attached
      hereto as Exhibit A (the "NOTICE OF Exercise") duly executed, completed
      and delivered to the Corporation at its corporate office. Promptly upon
      receipt of this Warrant and the Notice of Exercise

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      and the payment of the Exercise Price in accordance with terms set forth
      below, and in no event later than ten (10) days thereafter, the
      Corporation shall issue and deliver to the Holder or its nominee
      certificates for the total number of whole Shares for which this Warrant
      is being exercised in such denominations as are required for delivery to
      the Holder and shall execute the Notice of Exercise indicating the number
      of Shares which remain subject to future purchases if any.

         The Exercise Price may be paid at the Holder's election either (i) by
cash or check, or (ii) by surrender of this Warrant ("NET ISSUANCE") as
determined below. If the Holder elects the Net Issuance method, the Corporation
will issue Common Stock to the Holder (without any further payment) in
accordance with the following formula:

                   X    =   Y(A-B)
                            ------
                              A

         Where:    X    =   the number of shares of Common Stock to be issued
                            to the Holder

                   Y    =   the number of shares of Common  Stock then requested
                            to be issued under this Warrant.

                   A    =   the fair market value (per share) of the Common
                            Stock of the Corporation as of the date of the
                            Notice of Exercise.

                   B    =   the Exercise Price as of the date of the Notice of
                            Exercise.

         As used herein, current fair market value of Common Stock shall mean
with respect to each share of Common Stock:

         (i)      if traded on a securities exchange, the fair market value
                  shall be deemed to be the average of the closing prices over a
                  twenty-one (21) day period ending three days before the date
                  of the Notice of Exercise; or

         (ii)     if actively traded over-the-counter, the fair market value
                  shall be deemed to be the average of the closing bid and asked
                  prices quoted on the National Association of Securities
                  Dealers Automated Quotation System (the "NASDAQ SYSTEM") (or
                  similar system) over the twenty-one (21) day period ending
                  three days before the date of the Notice of Exercise;

         (ii)     if at any time the Common Stock is not listed on any
                  securities exchange or quoted on the NASDAQ System or similar
                  system, the current fair market value of Common Stock shall be
                  the highest price per share which the Corporation could obtain
                  from a willing buyer (not a current employee or director) for
                  shares of Common Stock sold by the Corporation, from
                  authorized but unissued shares, as determined in good faith by
                  its Board of Directors, or if requested by the Holder and, at
                  the Holder's expense, by an independent third-party investment
                  bank or other professional designated by the Corporation and
                  satisfactory to the

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                  Holder or, in the absence of a mutually agreeable investment
                  bank or other professional, by the average of the fair market
                  value of Common Stock shall be deemed to be the value received
                  by the holders of the Corporation's Common Stock pursuant to
                  such merger or acquisitions.

         Upon partial exercise by either cash or Net Issuance, the Corporation
         shall promptly issue to the Holder an amended warrant representing the
         remaining number of shares purchasable hereunder. All other terms and
         conditions of such amended warrant shall be identical to those
         contained herein, including, but not limited to the Effective Date
         hereof.

         2. In case the Holder shall exercise this Warrant with respect to less
than all of the shares that may be purchased under this Warrant, the Corporation
shall execute a new Warrant identical to the terms and conditions contained in
the original Warrant for the balance of the Shares that may be purchased upon
exercise of this Warrant and deliver such new Warrant to the Holder.

         3. The Corporation shall not be required to pay any income tax,
transfer tax or other governmental charge which may be payable in respect of the
issue and of this Warrant or the issue of any Shares upon the exercise of this
Warrant or in respect of any transfer involved in the issuance or delivery of
this Warrant or of the Shares in a name other than that of the Holder at the
time of surrender. Until the payment of any such transfer tax as may be
required, the Corporation shall not be required to issue such Shares.

         C. This Warrant may be split-up, combined or exchanged for another
Warrant or Warrants of like tenor to purchase a like aggregate number of Shares.
If the Holder desires to split-up, combine or exchange this Warrant, it shall
make such request in writing delivered to the Corporation at its corporate
office and shall surrender this Warrant and any other Warrants to be so
split-up, combined or exchanged at said office. Upon any such surrender for a
split-up, combination or exchange, the Corporation shall execute and deliver to
the person entitled thereto a Warrant or Warrants, as the case may be, as so
requested. The Corporation shall not be required to effect any split-up,
combination or exchange which will result in the issuance of a Warrant entitling
the Holder to purchase upon exercise a fraction of a Share. The Corporation may
require the Holder to pay a sum sufficient to cover any tax or governmental
charge that may be imposed in connection with any split-up, combination or
exchange of Warrants.

         D. This Warrant may not be transferred for a period of one year after
the issue date hereof except to partners of officers of the Holder. Prior to due
presentment for registration of transfer of this Warrant, the Corporation may
deem and treat the Holder as the absolute owner of this Warrant (notwithstanding
any notation of ownership or other writing hereon) for the purpose of any
exercise hereof and for all other purposes, and the Corporation shall not be
affected by any notice to the contrary.

         E. Any assignment permitted hereunder shall be made by surrender of
this Warrant to the Corporation at its principal office with the form of
assignment attached hereto as Exhibit B ("Assignment") duly executed and funds
sufficient to pay any transfer tax. In such event, the Corporation shall,
without charge, execute and deliver a new Warrant in the name of

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the assignee named in the Assignment and this Warrant shall promptly be
canceled. This Warrant may be divided or combined with other Warrants which
carry the same rights upon presentation thereof at the corporate office of the
Corporation together with a written notice signed by the Holder, specifying the
names and denominations in which such new Warrants are to be issued.

         F. Nothing contained in this Warrant shall be construed as conferring
upon the Holder the right to vote or to consent or to receive notice as a
stockholder in respect of any meetings of stockholders for the election of
directors or any other matter, or as having any rights whatsoever as a
stockholder of the Corporation. If, however, at any time prior to the expiration
of this Warrant and prior to its exercise, any of the following shall occur:

                  1. the Corporation shall take a record of the holders of its
         shares of Common Stock for the purpose of entitling them to receive a
         dividend or distribution payable otherwise than in cash, or a cash
         dividend or distribution payable otherwise than out of current or
         retained earnings, as indicated by the accounting treatment of such
         dividend or distribution on the books of the Corporation; or

                  2. the Corporation shall offer to the holders of its Common
         Stock any additional shares of capital stock of the Corporation or
         securities convertible into or exchangeable for shares of capital stock
         of the Corporation, or any option, right or warrant to subscribe
         therefore; or

                  3. there shall be proposed any capital reorganization or
         reclassification of the Common Stock, or a sale of all or substantially
         all of the assets of the Corporation, or a consolidation or merger of
         the Corporation with another entity; or

                  4. there shall be proposed a voluntary or involuntary
         dissolution, liquidation or winding up of the Corporation;

then, in any one or more of said cases, the Corporation shall cause to be mailed
to the Holders, at the earliest practicable time (and, in any event, not less
than thirty (30) days before any record date or other date set for definitive
action), written notice of the date on which the books of the Corporation shall
close or a record shall be taken to determine the stockholders entitled to such
dividend, distribution, convertible or exchangeable securities or subscription
rights, or entitled to vote on such reorganization, reclassification, sale,
consolidation, merger, dissolution, liquidation or winding up, as the case may
be. Such notice shall also set forth such facts as shall indicate the effect of
such action (to the extent such effect may be known at the date of such notice)
on the Exercise Price and the kind and amount of the Common Stock and other
securities and property deliverable upon exercise of this Warrant.

Such notice shall also specify the date as of which the holders of the Common
Stock of record shall participate in said distribution or subscription rights or
shall be entitled to exchange their Common Stock for securities or other
property deliverable upon such reorganization, reclassification, sale,
consolidation, merger, dissolution, liquidation or winding up, as the case may
be (on which date, in the event of voluntary or involuntary dissolution,
liquidation or winding up of the Corporation, the right to exercise this Warrant
shall terminate).

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         Without limiting the obligation of the Corporation to provide notice to
the holder of actions hereunder, it is agreed that failure of the Corporation to
give notice shall not invalidate such action of the Corporation.

         G. If this Warrant is lost, stolen, mutilated or destroyed, the
Corporation shall, on such reasonable terms as to indemnity or otherwise as it
may impose (which shall, in the case of a mutilated Warrant, include the
surrender thereof), issue a new Warrant of like denomination and tenor as, and
in substitution for, this Warrant, which shall thereupon become void. Any such
new Warrant shall constitute an additional contractual obligation of the
Corporation, whether or not the Warrant so lost, stolen destroyed or mutilated
shall be at any time enforceable by anyone.

         H. 1. The Corporation covenants and agrees that at all times it shall
reserve and keep available for the exercise of this Warrant such number of
authorized Shares as are sufficient to permit the exercise in full of this
Warrant.

         2. Prior to the issuance of any Shares upon exercise of this Warrant,
the Corporation shall secure the listing of such Shares upon any securities
exchange or automated quotation system upon which the shares of the
Corporation's Common Stock are listed for trading.

         3. The Corporation covenants that all Shares when issued upon the
exercise of this Warrant will be validly issued, fully paid, non-assessable and
free of preemptive rights.

                                     ARTICLE
                                       II.
                          ADJUSTMENT OF EXERCISE PRICE
                 AND NUMBER OF SHARES PURCHASABLE UPON EXERCISE

         A. In case the Corporation shall, while this Warrant remains
unexercised, in whole or in part, and in force, effect a recapitalization of
such character that the Shares purchasable hereunder shall be changed into or
become exchangeable for a larger or smaller number of shares, then, after the
date of record for effecting such recapitalization, the number of Shares of
Common Stock which the Holder hereof shall be entitled to purchase hereunder
shall be increased or decreased, as the case may be, in direct proportion to the
increase or decrease in the number of shares of Common Stock by reason such
recapitalization, and of the Exercise Price, per share, whether or not in effect
immediately prior to the time of such recapitalization, of such recapitalized
Common Stock shall in the case of an increase in the number of such Shares be
proportionately reduced, and in the case of a decrease in the number of such
Shares shall be proportionately increased. For the purposes of this Section
II.A., a stock dividend, stock split-up or reverse split shall be considered as
a recapitalization and as an exchange for a larger or smaller number of shares,
as the case may be.

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         B. In case of any consolidation of the Corporation with, or merger of
the Corporation into, any other corporation, or in case of any sale or
conveyance of all or substantially all of the assets of the Corporation other
than in connection with a plan of complete liquidation of the Corporation, then,
as a condition of such consolidation, merger or sale or conveyance, adequate
provision shall be made whereby the Holder shall thereafter have the right to
purchase and receive, upon the basis and upon the terms and conditions specified
in this Warrant and in lieu of Shares of Common Stock immediately theretofore
purchasable and receivable upon the exercise of the rights represented hereby,
such shares of stock or securities as may be issued in connection with such
consolidation, merger or sale or conveyance, with respect to the rights and
interests of the Holder of this Warrant to the end that the provisions hereof
shall be applicable as nearly as may be in relation to any shares of stock or
securities thereafter deliverable upon the exercise hereof.

         C. Subject to the provisions of D. below, in the case the Corporation
shall, while this Warrant remains unexercised, in whole or in part, and in
force, declare to make any distribution of its assets to holders of Common Stock
as a partial liquidating dividend, by way of return of capital or otherwise,
then, after the date of record for determining stockholders entitled to such
distribution, but prior to the date of distribution, the Holder shall be
entitled upon exercise of this Warrant and purchase of any or all of the Shares
of Common Stock subject hereto, to receive the amount of such assets (or, at the
option of the Corporation, a sum equal to the value thereof at the time of such
distribution to holders of Common Stock as such value is determined by the Board
of Directors of the Corporation in good faith) which would have been payable to
the Holder had it been the holder of such Shares of Common Stock on the record
date for the determination of stockholders entitled to such distribution.

         D. Except as otherwise provided in Section II.B. above, in the case of
any sale or conveyance of all or substantially all of the assets of the
Corporation in connection with a plan of complete liquidation of the
Corporation, in the case of the dissolution, liquidation of the Corporation, in
the case of the dissolution, liquidation or winding-up of the Corporation, all
rights under this Warrant shall terminate on a date fixed by the Corporation,
such date so fixed to be not earlier than the date of the commencement of the
proceedings for such dissolution, liquidation or winding-up and not later than
thirty (30) days after such commencement date. Notice of such termination of
purchase rights shall be given to the Holder at least thirty (30) prior to such
termination date.

         E. Any adjustment pursuant to the provisions of this Article II shall
be made on the basis of the number of Shares of Common Stock which the Holder
would have been entitled to acquire by exercise of this Warrant immediately
prior to the event giving rise to such adjustment and, as to the Exercise Price
per share in effect immediately prior to the rise to such adjustment. Whenever
any such adjustment is required to be made, the Corporation shall forthwith
determine the new number of Shares of Common Stock which the Holder hereof shall
be entitled to purchase hereunder and/or such new Exercise Price per share and
shall prepare, retain on file and transmit to the Holder within ten (10) days
after such preparation a statement describing in reasonable detail the method
used in calculating such adjustment.

         F. Anything contained herein to the contrary notwithstanding, the
Corporation shall not be required to issue any fraction of a Share in connection
with the exercise

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of this Warrant, and in any case where the Holder would, except for the
provisions of this Section II.F., be entitled under the terms of this Warrant to
receive a fraction of a Share upon such exercise, the Corporation shall upon the
exercise and receipt of the Exercise Price, issue the largest number of whole
Shares purchasable upon exercise of this Warrant. The Corporation shall not be
required to make any cash or other adjustment in respect of such fraction of a
Share to which the Holder would otherwise be entitled. The Holder, by the
acceptance of this Warrant, expressly waives its right to receive a certificate
for any fraction of a Share upon exercise hereof.

         G. The form of Warrant need not be changed because of any change
pursuant to this Article II in the Exercise Price or in the number of Shares of
Common Stock purchasable upon the exercise of a Warrant, and Warrants issued
after such change may state the same Exercise Price and the same number of
shares of Common Stock as are stated in the Warrants initially issued pursuant
to the Agreement.

                                     ARTICLE
                                      III.
                  REGISTRATION UNDER THE SECURITIES ACT OF 1933

         A. The corporation agrees and undertakes, during the ______ (___)-month
period commencing on the Exercise Commencement Date and ending on the Expiration
Time, that if the Corporation shall seek to register an offering of its
securities, each holder of this Warrant shall be notified and shall be entitled
to elect to have included in such proposed registration, without cost or
expense, any or all of the Shares underlying the Warrants ("UNDERLYING SHARES")
(the "PIGGY-BACK RIGHTS"). In the event of such a proposed registration, the
Corporation shall furnish the holders of the Warrants or the Underlying Shares
with no less than thirty (30) days written notice prior to the proposed filing
of a registration statement. Such notice shall continue to be given by the
Corporation to such warrant holders for each proposed registration by the
Corporation until such time as all of the Underlying Shares have been
registered. Such holders shall exercise these Piggy-Back Rights by giving
written notice within twenty (20) days of the receipt of the Corporation's
notice of intention to file a registration statement.

         B. If the managing Underwriter gives the Corporation and the holders of
Warrants, or the Underlying Shares which are being registered ("REGISTRABLE
SECURITIES") a written opinion that the number of Registrable Securities
requested to be included exceeds the number of securities that can be sold on
terms reasonably acceptable to the Corporation, the Company will include in the
registration only the number of Registrable Securities that the underwriters
believe can be sold on such terms. The Registrable Securities included in the
registration shall be allocated pro rata among the holders of Registrable
Securities on the basis of the total number of Registrable Securities requested
to be included in the registration.

         C. The Corporation agrees to defend, indemnify and hold the Holder, its
officers, directors, partners, employees, agents, legal representatives,
successors and assigns (collectively the "HOLDER GROUP") harmless from and
against any and all loss, liability, charge, claim, damage, cost and expense
whatsoever, including, without limitation, reasonable attorneys' fees
(collectively "CLAIMS"), incurred or sustained by the Holder Group, or any of
them, in

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connection with (i) any untrue statement of a material fact contained (a) in any
registration statement, preliminary prospectus or final prospectus and each
amendment and supplement thereto (including all Exhibits) relating to the
registration or sale of this Warrant or any of the Shares of Common Stock
issuable upon exercise of this Warrant, or (b) in any application, document or
other communication executed by or on behalf of the Corporation in order to
register or qualify this Warrant or any of the Shares of Common Stock issuable
upon the exercise of this Warrant under any state's blue sky laws, PROVIDED,
HOWEVER, that the foregoing indemnity shall not apply to any such statement made
by the Company in reliance upon information provided to the Company be in
writing by any member of the Holder Group, or (ii) any breach of any
representation, warranty, covenant or agreement of the Corporation contained in
this Warrant.

         D. If any indemnity is sought against the Corporation pursuant to this
Article III, the indemnified party or parties shall promptly notify the
Corporation in writing of the assertion of such Claim, and promptly furnish the
Corporation with all relevant information and copies of all pertinent documents
relating to the Claim in the indemnified party's possession or control. The
failure of the indemnified party to give notice of the claim will not affect the
indemnified party's right to indemnification hereunder, except if, and only to
the extent that, the Corporation's defense of such Claim is actually prejudiced
by reason of such failure to give such timely notice. The Corporation will
undertake and continuously defend such Claim with counsel of reputable standing,
and the indemnified party may participate in such defense by counsel of its own
choosing and its own expense. The Corporation may effect settlement of a Claim
on such terms and conditions as it shall determine, provided that, at such time
the Corporation acknowledges and reaffirms to the indemnified party its
financial responsibility for the Claim and the settlement thereof. If the
indemnified party shall be required to pay any amount with respect to said
Claim, such amount shall be paid by the Corporation to the indemnified party
upon the indemnified party giving the Corporation a written request therefor. If
the Corporation does not timely undertake or continuously defend any such Claim,
then the indemnified party will have the right to employ separate counsel in any
such action and to participate in the defense thereof, and the fees and expense
of such counsel as well as all other fees and expenses incurred by the
indemnified party in connection with such defense will be the Corporation's
obligation and responsibility. Furthermore, the indemnified party will then have
the right to defend or dispose of the Claim in such manner as it deems
advisable, and for the purposes hereof, as if such defense or disposition had
been undertaken by the Corporation.

                                     ARTICLE
                                       IV.
                                  OTHER MATTERS

         A. All the covenants and provisions of this Warrant by or for the
benefit of the Corporation shall bind and inure to the benefit of its successors
and assigns hereunder.

         B. Notices or demands pursuant to this Warrant to be given or made by
the Holder to or on the Corporation shall be sufficiently given or made if sent
by certified or registered mail, return receipt requested, postage prepaid, and
addressed, until another address is designated in writing by the Corporation, as
follows:

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                                 CELLPOINT INC.
                           ATTENTION: PETER HENRICCSON
                              3000 HILLSWOOD DRIVE
                             HILLSWOOD BUSINESS PARK
                                CHERTSEY, SURREY
                                KT16 0RS ENGLAND

         Notices to the Holder provided for in this Warrant shall be deemed
given or made by the Corporation if sent by certified or registered mail, return
receipt requested, postage prepaid, and addressed to the Holder at its last
known address as it shall appear on the books of the Corporation.

         C. The validity, interpretation and performance of this Warrant shall
be governed by the laws of the State of New York.

         D. Nothing in this Warrant expressed and nothing that may be implied
from any of the provisions hereof is intended, or shall be construed, to confer
upon, or give to, any person or corporation other than the Corporation and the
Holder any right, remedy or claim under promise or agreement hereof, and all
covenants, conditions, stipulations, promises and agreements contained in the
Warrant shall be for the sole and exclusive benefit of the Corporation and its
successors and of the Holders it successors and, if permitted, its assignees.

         E. The Article headings herein are for convenience only and are not
part of this Warrant and shall not affect the interpretation thereof.

         F. Whenever required by context, the singular shall include the plural,
and vice versa.

         G. For purposes of Article III only, the Holder of this Warrant shall
continue to be entitled to the rights and shall be bound by the obligations
contained in Article III of this Warrant after the Holder exercises this Warrant
and purchases the Underlying Shares, but such rights and obligations shall not
inure to the benefit of any transferee of the Underlying Shares.

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         IN WITNESS WHEREOF, the parties hereto have caused this Warrant to be
executed by its officers thereunto duly authorized as of the date set forth
below.

Date:  __________, 2001

                                          CELLPOINT INC.

                                          By:
                                             -----------------------------------
                                                   Peter Henricsson, President

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                                    EXHIBIT A

                                 CELLPOINT INC.

                               Notice of Exercise

         (TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THE RIGHT
          TO PURCHASE COMMON STOCK EVIDENCED BY THE FOREGOING WARRANT)

CellPoint Inc.
3000 Hillswood Drive
Hillswood Business Park
Chertsey, Surrey
KT16 0RS  England

Attn: Peter Henriccson

         The undersigned hereby irrevocably subscribes for the purchase of ____
shares of CellPoint Inc.'s $0.001 par value of common stock ("COMMON STOCK"),
pursuant to and in accordance with the terms and conditions of this Warrant, and
herewith

         (i)      makes payment of $ _______________ therefor; or

         (ii)     directs the Corporation to withhold from such __________
                  shares the number of shares necessary to satisfy the Exercise
                  Price based on the Net Issuance method described in Section
                  I.B.1 of this Warrant;

and requests that the certificates for the shares to be issued as requested in
this Notice of Exercise be issued in the name of and be delivered to the
undersigned at the address stated below, and, if said number of shares shall not
be all of the shares purchasable hereunder, that a new Warrant of like tenor for
the balance of the remaining shares purchasable hereunder be delivered to the
undersigned at the address stated below.

         The undersigned agrees that: (1) the undersigned will not offer, sell,
transfer or otherwise dispose of any such shares of Common Stock unless either
(a) a registration statement, or post-effective amendment thereto, covering such
shares of Common Stock has been filed with the Securities and Exchange
Commission pursuant to the Securities Act of 1933, as amended (the "ACT"), and
such sale, transfer or other disposition is accompanied by a prospectus meeting
the requirements of Section 10 of the Act forming a part of such registration
statement, or post-effective amendment thereto, which is in effect under the Act
covering the shares of Common

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Stock to be so sold, transferred or otherwise disposed of, or (b) counsel to
CellPoint Inc. reasonably satisfactory to the undersigned has rendered an
opinion in writing and addressed to CellPoint Inc. that such proposed offer,
sale, transfer or other disposition of the shares of Common Stock is exempt from
the provisions of Section 5 of the Act in view of the circumstances of such
proposed offer, sale, transfer or other disposition; and (2) CellPoint Inc., may
notify the transfer agent for its Common Stock that the certificates for the
Common Stock acquired by the undersigned are not to be transferred unless the
transfer agent receives advice from CellPoint Inc. that one or both of the
conditions referred to in (1)(a) and (1)(b) above have been satisfied.

Dated:________________________         Signed:_____________________________

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

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

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

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                           ACKNOWLEDGEMENT OF EXERCISE

         The undersigned CellPoint Inc., (the "CORPORATION"), hereby
acknowledges receipt of the "Notice of Exercise" from
_____________________________________ to purchase ______ shares of the Common
Stock of the Corporation, pursuant to the terms of the Warrant, and further
acknowledges that _______ shares remain subject to purchase under the terms of
the Warrant.

                                            CELLPOINT INC.

                                            By:
                                               ---------------------------------

                                            Title:
                                                  ------------------------------

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

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                                    EXHIBIT B

                                 CELLPOINT INC.

                                   Assignment

(TO BE EXECUTED BY THE REGISTERED HOLDER TO EFFECT A TRANSFER OF THE FOREGOING
WARRANT)

         FOR VALUE RECEIVED, _____________________________________ hereby sells,
assigns and transfers unto ___________________________ the within Warrant and
the rights represented thereby, and does hereby irrevocably constitute and
appoint _______________________ - Attorney, to transfer said Warrant on the
books of the Corporation, with full power of substitution.

Dated:__________________________     Signed:_______________________________

Signature guaranteed:

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

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

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                                                                    EXHIBIT 10.1

                                 SHARE AND ASSET
                               TRANSFER AGREEMENT

This Share and Asset Transfer Agreement (together with all Annexes hereto, the
"Agreement") is made on 19 October 2001 by and between

(A)   Micronet AB, org. no. 556494-3016, a company incorporated under Swedish
      law, having its principal office at Soft Center, 372 25 RONNEBY, (the
      "Vendor"), and

(B)   CellPoint Systems AB, org. no.556551-6373, a company incorporated under
      Swedish law, having its principal office at Kronborgsgrand 7, 164 46
      KISTA, (the "Purchaser").

RECITALS

WHEREAS

The Micronet Mobile Location Services AB, org. no. 556601-0707, a company
incorporated under Swedish law (the "Company"), having its principal office at
Soft Center, 372 25 RONNEBY has an issued share capital of one-hundred-thousand
(100,000) SEK into one-thousand (1,000) ordinary shares, each share with a
nominal value of 100 SEK per share.

WHEREAS
The Vendor owns forty-two (42) per cent of the shares of the Company;

WHEREAS
The Purchaser owns fifty-eight (58) per cent of the shares of the Company;

WHEREAS
The Vendor owns certain equipment presently used by the Company in its daily
business operations; (the "Assets")

WHEREAS
The Vendor has agreed to sell (i) its stake of forty-two (42) per cent of the
shares in the Company, as well as (ii) the Assets, and the Purchaser has agreed
to purchase the same on the terms and conditions set out in this Agreement;

NOW IT IS THEREFORE HEREBY AGREED AS FOLLOWS

1.          DEFINITIONS AND INTERPRETATIONS

1.1         In this Agreement the following terms and expressions shall have the
            meanings set forth below:

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            "Accounts"            means the audited accounts for the fiscal year
                                  ending 2001-06-30 and the unaudited accounts
                                  for the period ending 2001-10-31which shall be
                                  provided to Vendor no later than on 5 November
                                  2001 as set out in section 5 below and which
                                  shall form ANNEX 1.1.A;

            "Agreement"           means this agreement together with all Annexes
                                  hereto;

            "Assets"              means the machinery and other equipment owned
                                  by Micronet AB and used by the Company in its
                                  business operations as further specified in
                                  ANNEX 1.1.B to be transferred to Purchaser in
                                  accordance with section 2 below;

            "Balance Sheet Date"  means 31 October 2001

            "Company"             means Micronet Mobile Location Services AB,
                                  org. no. 556601-0707

            "Completion"          means the consummation and completion of the
                                  sale and purchase of the Shares and Assets
                                  contemplated by this Agreement in accordance
                                  with the provisions of Section 4 hereof;

            "Consideration"       means the consideration referred to in Section
                                  3 hereof;

            "Intellectual
            Property"             means patents trade or business names, trade
                                  marks, service marks, domain names, rights in
                                  any designs (registered or unregistered),
                                  copyrights, trade secrets, know how, rights in
                                  computer software, lists of suppliers and
                                  customers, confidential and proprietary
                                  knowledge and information, data base rights
                                  (including any registration or application for
                                  registration of any of the foregoing) and all
                                  rights under licences and consents in relation
                                  to any of the foregoing and all rights or
                                  forms of protection of a similar nature
                                  (registered or unregistered) to any of the
                                  foregoing or having equivalent effect anywhere
                                  in the world;

            "Parent Company"      means CellPoint Inc., a corporation organized
                                  under the laws of the State of Nevada, USA,
                                  being the parent company of the Purchaser

            "Parties"             means the Vendor and the Purchaser;

            "Purchaser"           means CellPoint Systems AB, org. no.
                                  556551-6373

            "Shares"              means the Vendor's forty-two per cent stake of
                                  the shares in the Company;

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            "Tax and Taxes"       means all taxes of whatever kind, including
                                  without limitation, corporation tax, advance
                                  corporation tax, income tax, capital gains
                                  tax, value added tax, excise duties, customs
                                  and other import duties, inheritance tax,
                                  stamp duty, stamp duty reserve tax, national
                                  insurance or social security contributions,
                                  local authority council taxes and business
                                  rates, foreign taxation and duties, and any
                                  payments whatsoever which the Company may be
                                  or become bound to make to any person as a
                                  result of the operation of any enactment
                                  relating to any taxes or duties and all
                                  penalties charges and interest relating to any
                                  of the foregoing or resulting from a failure
                                  to comply with the provisions of any enactment
                                  relating to taxation;

            "Vendor"              means Micronet AB, org. no. 556494-3016;

            "Vendor' best
            knowledge"            means the actual knowledge of any of the
                                  representatives of the Vendor, including also
                                  what the named representatives should have
                                  known after due and careful enquiries with any
                                  relevant person(s) involved in the management
                                  or business of the Company.

            "Warranties"          means the warranties and representations set
                                  out in Section 6.

1.2         The headings of this Agreement are inserted for convenience only and
            shall not affect the construction or interpretation of this
            Agreement.

2.          SALE AND PURCHASE

2.1         Subject to the terms of this Agreement the Vendor shall sell and
            transfer the Shares and the Assets with full title guarantee to the
            Purchaser and the Purchaser shall purchase and acquire the Shares
            and the Assets from the Vendor.

2.2         The Shares and the Assets shall be sold free from all liens or
            encumbrances and as regards the Shares together with (a) all accrued
            benefits and rights attaching thereto including but not limited to
            accumulated but not distributed profits and (b) all dividends or
            distributions declared paid or made after the Balance Sheet Date.

3.          CONSIDERATION

3.1         Subject to Sections 7 and 8 below, the Consideration for the Shares
            and the Assets shall be
            one-hundred-seven-thousand-one-hundred-forty-two (107,142)
            restricted shares in the Parent Company as well as
            fifty-three-thousand-five-hundred-seventy-one (53,571) warrants
            calculated as follows. The parties agree that as of the date hereof,
            such shares in the Parent Company presently corresponds to a total
            value of SEK approximately one-million-five-hundred-thousand
            (1,500,000), but there is no assurance of the future value of such
            shares after the date hereof.

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            The Consideration has been calculated on the basis of a share price
            of SEK fourteen (14) per share. The number of warrants forming part
            of the Consideration has been calculated on the basis of 0.5
            (one-half) Warrant per share. The Warrants exercise price shall be
            USD 2.50 (two dollars fifty cents) per Warrant and may be exercised
            directly and up to a maximum of twenty-four (24) months after
            Completion.

            Vendor acknowledges and agrees that the shares being issued
            hereunder as part of the purchase price and upon exercise of the
            warrants have not been registered under the United States Securities
            Act of 1933 as amended, and accordingly, are "restricted
            securities", and may not be resold or transferred except upon a
            registration under such Act or an exemption therefrom. Parent
            Company will use its best efforts to file a registration statement
            for the shares included in the Consideration, including the shares
            underlying the Warrants with the Securities Exchange Commission on
            Form S-3 Registration Statement by 31 October 2001 provided that
            this Agreement is duly executed by authorized representatives of
            both parties no later than 26 October 2001. In the event that this
            Agreement is so executed at a later time, the Parent Company will
            use its best efforts to file such registration statement at the
            earliest possible time thereafter as may be determined by the Parent
            Company.

4.          COMPLETION

4.1         DATE AND PLACE OF COMPLETION

            Completion shall take place on at the offices of Advokatfirma Lindh
            Stabell Horten, Regeringsgatan 38, 103 90 STOCKHOLM, Sweden, on 1
            November 2001, at 10.30 am ("Completion").

            The delivery of the Shares to Purchaser shall occur as follows.
            Subject to and simultaneous with Purchaser's settlement of its debt
            to the Company pursuant to section 9.1 below, Vendor shall fulfill
            its obligation pursuant to sub-section 4.2 (A)(1) below. The parties
            shall jointly and in good faith agree on the date and procedure of
            delivery of the Shares to Purchaser as well as final settlement of
            Purchaser's debt as set out in section 9.1

4.2         VENDOR' OBLIGATION

            Save for Vendor's obligations as set forth under (A) (1) in this
            subsection 4.2, which obligation shall be fulfilled as set out in
            section 4.1 second paragraph, on Completion the Vendor shall:

            (A)   deliver to the Purchaser:
                  (1)   duly executed transfers of the Shares by the registered
                        holders thereof in favour of the Purchaser or its
                        nominees together with the relative share certificates;
                  (2)   such waivers or consents as the Purchaser may require to
                        enable the Purchaser or its nominees to be registered as
                        holders of the Shares; and
                  (3)   powers of attorney in an agreed form;

            (B)   deliver to the Purchaser as agent for the Company:

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                  (1)   all the statutory and other books (duly written up to
                        date) of the Company and its certificate of
                        incorporation, any certificates of incorporation on
                        change of name and common seal; and
                  (2)   the title deeds to the Properties other than in respect
                        to those Properties which are disclosed in this
                        Agreement as being charged and the title deeds as being
                        held by the chargee;

            (C)   act so as to procure a board meeting of the Company to be held
                  at which there shall be:
                  (1)   passed a resolution to register the transfer of the
                        Shares and to register, in the register of shareholders,
                        the Purchaser (or its nominees) as the holder(s) of the
                        Shares concerned;
                  (2)   appointed as directors and/or secretary such persons as
                        the Purchaser may nominate;
                  (3)   revoked all existing authorities to banks and new
                        authorities shall be given to such banks on such terms
                        as the Purchaser may direct; and
                  (4)   changed the situation of the registered office and
                        (subject to the Companies Acts) the accounting reference
                        date, each as the Purchaser may direct;

            (D)   act so as to procure the discharge of all guarantees and like
                  obligations given by the Company in respect of the obligations
                  of any of the Company's staff or other person belonging to the
                  Company's management;

            (E)   procure that the Assets are duly delivered to the Company's
                  premises, no later than on Completion and release the Company
                  from any attaching obligations on the Assets;

4.3         On Completion the Vendor shall where applicable repay all
            inter-company loans or other monies owing to the Company.

4.4         The Vendor acknowledges and agrees that:

            (1) the Consideration has not been registered under the United
            States Securities Act of 1933 as amended and including the rules and
            regulations thereunder as in effect from time to time (the
            Securities Act); and accordingly the Consideration is "restricted
            securities";

            (2) the certificates evidencing the Consideration shall bear a
            legend to the effect that such shares are "restricted securities";

            (3) the Consideration may not be resold except pursuant to a
            registration statement filed with the United States Securities and
            Exchange Commission under the Securities Act or pursuant to an
            exemption from such registration; and

            (4) the Vendor is acquiring the Consideration to be issued to it for
            its own account and not with a view to the distribution thereof.

5.          CONDITIONS PRECEDENT

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5.1         The obligation of the Purchaser to complete the transactions
            contemplated by this Agreement shall be subject to the following.

            (I) the approval of the board of directors of the Parent Company;
            and

            (II) that the agreement is in full satisfaction and compliance with
            the terms and conditions of the financing agreement entered into
            between the Parent Company and Castle Creek Technology Partners LLC.

            In the event that the conditions set out in (I) and / or (II) above
            have not been fulfilled or are not satisfied, the Purchaser shall at
            its own discretion and without any obligation to the Vendor be
            entitled to withdraw from this Agreement.

5.2         The obligation of the Purchaser to complete the transactions
            contemplated by this Agreement shall be moreover subject to the
            following.

            (A) that Annex 1.1 (A) is delivered to Purchaser no later than on 5
            November 2001;

            (B) that the Company's equity (Sw: "eget kapital") is not below an
            amount of SEK 618.838;and

            (C) that the profits and losses of the Company shown by the Accounts
            are not below the forecasted profits and losses of the Company,
            which for the period ending 31 October 2001 corresponds to SEK
            249.502.

            In the event that the equity and/or profits and losses of the
            Company shown by the Accounts are below the forecasted profits and
            loss of the Company by more than ten per cent (10%) the Purchaser
            shall at its own discretion and without any obligation to the Vendor
            be entitled to withdraw from this Agreement. In the event the
            parties cannot agree on (i) whether there exists a deviation (to the
            detriment of the Purchaser) between the Accounts and the forecasted
            profits and losses of the Company, and/or (ii) whether the equity is
            below the stipulated amount in (B) above, the parties hereby agree
            that the Purchaser's interpretation shall prevail.

5.3         The Purchaser shall be entitled to waive the fulfillment of any of
            the conditions set forth in this section 5 above without prejudice
            to any right or remedy of the Purchaser in respect of the
            representations and warranties set out in section 6 not being true
            and correct.

5.4         .

6.          WARRANTIES AND REPRESENTATIONS BY THE VENDOR

            Prior to the date hereof, the Purchaser has not conducted an
            accounting and business due diligence with respect to the Company
            and relies therefor upon the warranties and representations provided
            by the Vendor below.

            In line with the aforesaid and what is further stated in this
            Agreement, the Vendor warrants and represents to the Purchaser that
            the following is true and correct as at the

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            date of this Agreement and Completion.

6.1         EXISTENCE AND CORPORATE AUTHORITY

            The Company is duly organised and validly existing under the laws of
            Sweden and has full corporate power and all necessary licences,
            permits and authorisations to carry on its business as now conducted
            and to own, lease and operate the assets and properties used in
            connection therewith.

            The Purchaser acknowledges however that no board members for the
            Company have been registered with the Patent and Registrations
            Office (PRV) as required by law and that PRV has indicated that in
            the event that no application is submitted as regards the board, the
            Company may be subject to liquidations proceedings, ANNEX 6.1.

6.2         SHARES

6.2.1       The Shares constitute forty-two (42) per cent of the entire issued
            capital of the Company and are legally and validly issued and fully
            paid.

6.2.2       There are no (i) debt instruments convertible into shares, (ii) debt
            instruments with a right or option to subscribe for new shares,
            (iii) participating debt instruments issued by the Company or (iv)
            other agreements regarding liens, pledges, encumbrances, pre-emption
            rights, purchase rights or other rights to shares or such
            instruments as referred to above in the Company or to the Shares.

6.2.3       The Vendor lawfully owns and has good and marketable title to the
            Shares. The Shares are free and clear of all encumbrances and there
            exists no agreement to create any encumbrance over any such Shares.

6.3         RECORDS

6.3.1       Those copies of the memorandum and articles of association and
            extracts from the relevant trade registers which are enclosed as
            ANNEX 6.3, are true, accurate, up to date and complete and reflect
            the present status of the Company.

6.3.2       No constitutional documentation of the Company required by
            applicable law (such as, but not limited to, shareholders'
            registers, memorandum and articles of association, minutes of the
            board of directors' meetings and general meetings, permits and
            licences) is missing, and no registrations or applications (and
            applicable fees), relating to any constitutional documentation of
            the Company are pending or outstanding.

6.4         ACCOUNTS

6.4.1       The Accounts have been prepared in accordance with law, generally
            accepted accounting principles in Sweden and the books and records
            of the Company and give a true and fair view of the financial
            position and results of the operations of the Company as at the
            Balance Sheet Date. For the avoidance of doubt the Vendor guarantees
            that there shall be no deviation between the Accounts and the
            forecasted profits and losses of the Company as set out in section 5
            above to the detriment of the Purchaser of an amount

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            corresponding to more than ten (10) per cent. In the event of such
            deviation, the Vendor shall compensate the Purchaser as set out
            hereunder.

6.4.2       Adequate provision or reserve has in accordance with law and
            generally accepted accounting principles been made in the Accounts
            for all liabilities and obligations, all bad and doubtful debts, all
            capital and burdensome commitments, including but not limited to all
            Taxation and deferred Taxation liable to be assessed on the Company
            on or before the date hereof.

6.4.3       All accounts receivable reflected in the Accounts have been included
            therein in accordance with generally accepted accounting principles
            in Sweden and are (other than receivables collected since the
            Balance Sheet Date) valid and fully collectable for the full amount
            thereof. All receivables of the Company accrued after the Balance
            Sheet Date and not collected as of Completion are valid and fully
            collectable for their full amount. Any exceptions to the foregoing
            are set out in ANNEX 6.4.

6.4.4       The Company has good and marketable title to all assets included in
            the Accounts and all assets are free and clear from mortgages,
            pledges, liens or other encumbrances, except as disclosed in the
            Accounts.

6.4.5       The profits and losses of the Company shown by the Accounts have not
            in any material respect been affected by any unusual, exceptional,
            extraordinary or non-recurring item or by any other matter, which
            has rendered such profits or losses unusually high or low.

6.5         ABSENCE OF CERTAIN CHANGES OR EVENTS

6.5.1       There has not occurred or arisen since the Balance Sheet Date and
            will not until Completion occur or arise with respect to the
            Company;

            (A)   any material adverse change in the financial condition or in
                  the assets or operations of the business or any event which
                  singly or in the aggregate could result in any such material
                  adverse change; or

            (B)   any obligations, commitments or liabilities, contingent or
                  otherwise, whether for Taxes or otherwise, except obligations,
                  commitments and liabilities arising in the ordinary course of
                  business; or

            (C)   any amendments to or termination of, or any agreement to amend
                  or terminate, any of the customer agreements listed in ANNEX
                  6.5; or

            (D)   any sale, assignment, transfer, pledge, lease or other
                  disposal of any individual asset; or

            (E)   any increase in the rates of remuneration or compensation
                  (including bonuses) payable or to become payable to any
                  officer, employee or consultant; or

            (F)   any other transaction other than in the ordinary course of
                  business;

            and the Company has not agreed or arranged to do any of the
            foregoing.

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6.5.2       Up to the Balance Sheet Date and up to Completion;

            (A)   the business of the Company has been conducted in the ordinary
                  course of business with a view to maintaining the business as
                  a going concern;

            (B)   no contract or commitment has been entered into by or on
                  behalf of the Company extending beyond the Completion, except
                  normal commitments for the purchase of material or supplies,
                  and contracts not involving materials or supplies made in the
                  ordinary course of business;

            (C)   the Company has not borrowed any additional funds from banks
                  or other external sources other than as required in the
                  ordinary course of business.

6.6         DIVIDENDS

            No dividends or other similar distributions have been declared, made
            or paid by the Company. The Company has not distributed any property
            or provided any loan, security or guarantee in conflict with the
            provisions of any applicable laws.

6.7         ASSETS AND ASSETS BELONGING TO THE COMPANY

            (A)   ASSETS

            The Vendor lawfully owns and has good and marketable title to the
            Assets. The Assets are free and clear of all encumbrances and there
            exists no agreement to create any encumbrance over any such Assets.

            The Assets are (and shall be on Completion) in good working order
            (ordinary wear and tear excepted) and fit for their intended purpose
            and use in the Company's daily operations and fully maintained and
            serviced on a timely basis;

            Any applicable taxes to be paid or arising out of the transfer of
            the Assets shall be to the account of the Vendor;

      (B)   ASSETS BELONGING TO THE COMPANY

            The Company owns, leases or is otherwise entitled to use, all assets
            necessary for it to carry on its business as presently conducted,
            and such assets are in good operating condition, ordinary wear and
            tear excepted, fully maintained and serviced on a timely basis. All
            assets referred to under this section 6.7 (B), including but not
            limited to assets that have been written-off (Sw: "avskrivna
            inventarier") are listed in ANNEX 6.7.

6.8         AGREEMENTS

6.8.1       All material contracts to which the Company is a party have been
            supplied to the Purchaser and are found in ANNEX 6.8 hereto and;

            (A)   each contract is valid and binding in accordance with its
                  written terms;

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            (B)   except as set out in ANNEX 6.8.1 hereto, no contract contains
                  any break or other termination clauses or penalties (or a
                  right to negotiate the terms thereof) in the event of a change
                  of the shareholding or control of the Company;

            (C)   the Company is not in breach of or default of any contract
                  and, to the Vendor's best knowledge, as of the date of this
                  Agreement none of the counter-parties is in breach of or
                  default of any contract;

            (D)   the Company has not terminated or amended any contract and as
                  of the date of this Agreement none of the counter-parties has
                  terminated or amended any contract;

            (E)   to the Vendor' best knowledge as of the date of this
                  Agreement, no party intends to terminate or amend any
                  contract; and

            (F)   there are no material verbal agreements entered into by the
                  Company.

6.8.2       All agreements and contracts in the Company have been entered into
            on customary terms and at arm's length.

6.8.3       The Company is not bound by any agreement that limits the freedom of
            the Company to compete in any line of business, compete with any
            person or to transact business with any person.

6.9         INTELLECTUAL PROPERTY

6.9.1       All Intellectual Property which is used in and is necessary for the
            business is owned by or licensed or otherwise made available to the
            Company (indicating ownership or license rights) and is not subject
            to any encumbrance or licensed to a third party.

6.9.2       Neither the Vendor nor the Company has given any notice of any
            infringement by any third party of any Intellectual Property owned
            by or licensed to the Company.

6.9.3       There has not been presented to the Vendor or the Company any claim,
            whether for infringement, damages or otherwise, made by any third
            party which relates to the use of Intellectual Property by the
            Company and no such claim is threatened.

6.10        EMPLOYMENT AND PENSION AGREEMENTS

6.10.1      The names, titles, age, length of service and current annual
            remuneration of all employees of the Company, including without
            limitation bonuses, benefits in kind, compensation programs, stock
            option and similar rights and pension benefits are listed in ANNEX
            6.10 hereto. Except as set forth therein, the Company has not as of
            the date of this Agreement received notice of termination from any
            employee. The Company is not liable to make any payment to any
            present or former director, officer or employee by way of damages or
            compensation for loss of office or employment or for redundancy or
            unfair or wrongful dismissal or any sum in respect of any breach of
            any employment contract or any breach of any statutory duty.

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6.10.2      The Company is not under any present of future liability to pay to
            or in respect of any employee or former employee or the spouse or
            dependants of any employee of former employee or any other person
            who is or has been in any manner connected with the Company any
            pension, superannuation allowance, death benefit, retirement
            gratuity, or like benefit or to contribute to any pension or life
            assurance scheme, medical insurance scheme, permanent health scheme,
            and the Company has not made any such payments or contributions on a
            voluntary basis nor is it proposing to do so.

6.10.3      The Company has, with respect to employment, complied with all
            applicable laws, regulations, practices, terms and conditions of
            employment, pension, wages and hours. There is as of the date of
            this Agreement no pending or, to Vendor' best knowledge, threatened
            litigation, proceeding or dispute relating to employment or pension
            matters in respect to the Company and there have been no employee
            disputes or proceedings with respect to non-compliance with
            employment regulations during the past five years.

6.11        COMPLIANCE WITH LAW

6.11.1      To the Vendor's best knowledge the Company and its Directors,
            officers and employees have in relation to the business and assets
            of the Company complied at all times with all applicable laws
            (including data protection laws), regulations, permissions, consents
            and codes of practice, whether of Sweden or elsewhere.

6.11.2      All necessary licenses, consents, permits and authorizations have
            been obtained by the Company to enable it to carry on its business
            in the places and in the manner in which such business is conducted
            and all such licenses, consents, permits and authorizations are
            valid and have been complied with in all respects.

6.12        LITIGATION AND DISPUTES

6.12.1      There is no claim, suit, administrative, arbitration or other legal
            proceeding (including but not limited to tax proceedings) pending or
            threatened against the Company, its business, properties or assets,
            and there is no such claim, suit or proceeding pending or threatened
            by the Company against any other person.

6.12.2      There is as of the date of this Agreement no material dispute with
            any government or any agency or body on behalf of such government or
            any other authority in relation to the Company, which has not
            already been rectified.

6.13        TAXES

6.13.1      The Company has submitted to the appropriate Tax authority all Tax
            returns, reports and information with respect to which such
            obligations arose prior to Completion. The Company has thereby
            provided, in a truthful and correct manner, all information that is
            required in order for the appropriate Tax authority to be able to
            calculate Taxes in a correct manner. No such filings contain any
            material misstatements or omit any statement of any material fact.
            The Company has timely paid to the appropriate authority Taxes due
            and payable. The Company is not in default in respect of Taxes for
            any taxable year or part thereof and prior to the contract date, the
            Company has not executed any transaction which resulted, or may
            result, in deferred Taxation. Any exceptions to the foregoing are
            set out in ANNEX 6.13.

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6.13.2      The Company has not requested, has not been given or has not been
            granted by any Tax authority a waiver or comparable consent or
            extension of any statue of limitations governing the time of the
            assessment or collection with respect to any Taxes or Tax returns.

6.13.3      The Company has complied in all respects with all applicable laws
            relating to the withholding of Taxes (including withholding of
            employment Taxes) and has within the time and manner prescribed by
            law, withheld and paid over to the proper authority all amounts
            required to be withheld and paid over under all applicable laws. Any
            exceptions to the foregoing are set out in ANNEX 6.13.

6.13.4      The Company is not a party to, is not bound of, or has no obligation
            under any tax sharing agreement, tax indemnification agreement or
            similar contract or arrangement, and the Company has no potential
            liability or obligation to any person as a result of, or pursuant
            to, any such agreement, contract or arrangement. The Company has no
            liability for the Taxes of another person by contract or otherwise.

6.13.5      The Company has made no private expense payments on behalf of the
            directors and their associates and there are no loans between the
            company and its directors. No power of attorney which is currently
            in force has been granted the directors and their associates with
            respect to any matter relating to Taxes.

6.13.6      All losses carried forward of the Company are correctly calculated
            and capable of utilisation.

6.13.7      The Company has not participated in any transaction that may be
            regarded as a Tax evasion (or Tax fraud) and there is currently no
            pending audit within the Company regarding Taxes, or any legal
            proceedings concerning Taxes which involve the Company. Nor are
            there any concluded audits or legal proceedings against the Company
            that might result in any Taxes.

6.14        INSURANCE

            The insurance coverage of the Company is adequate, covering its
            assets against such losses and risks as are generally maintained for
            comparable businesses and properties and valid policies for such
            insurance are now and will until Completion be outstanding and duly
            in force. The Company has not done or omitted to do or suffered
            anything which might render any policies of insurance taken out void
            or, to the Vendor's best knowledge, the premium payable liable to
            increase.

6.15        OTHER MATTERS

            The Vendor and/or the Company has not withheld any information,
            which at the date hereof could be considered to be of material
            importance to the Purchaser in its evaluation of the Company. Unless
            otherwise provided herein, all of the information set forth in this
            Agreement or otherwise provided by the Vendor and/or the Company
            and/or any written information provided by any of their advisors to
            the Purchaser or its advisors is to the best of the Vendor' best
            knowledge true and accurate.

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7.          COVENANTS OF THE VENDOR

7.1         ESCROW

            The Vendor agrees that of the Consideration, a total number of
            sixteen-thousand-seventy-one (16,071) shares shall be placed in
            escrow with Advokatfirma Lindh Stabell Horten (the "escrow agent")
            for a period of three months after Completion pending determination
            of any indemnification obligations of the Vendor as set out in this
            Agreement. The shares in escrow may be released as set out in
            section 8.3 below.

7.2         NON-COMPETITION

            The Vendor agrees that, for a period of two (2) years following
            Completion, it shall not directly commence any business or acquire
            an interest in any business which is competitive with the business
            of the Company and / or the business of the Purchaser as conducted
            for the two (2) years preceding the Completion date, including but
            not limited to the direct or indirect recruitment of any of the
            Company's or the Purchaser's staff, notwithstanding that such
            person(s) terminates its employment with the Company or the
            Purchaser after Completion and enters into new employment with a
            third party. The Vendor further agrees that it shall procure that
            the persons listed in ANNEX 7.2, representing the owners of the
            Vendor and for the period that the Vendor is bound by this section,
            shall not directly commence any business or acquire an interest in
            any business which is competitive with the business of the Company
            and / or the business of the Purchaser as conducted for the two (2)
            years preceding the Completion date, including but not limited to
            the direct or indirect recruitment of any of the Company's or
            Purchaser's staff, notwithstanding that such person(s) terminates
            its employment with the Company or the Purchaser after Completion
            and enters into new employment with a third party.

            The foregoing restriction however shall not prohibit the Vendor or
            any of the persons listed in Annex 7.2 above from (i) investing in
            securities of any entity solely for investment purposes and without
            participating in the business thereof provided such securities are
            traded on a stock exchange approved by relevant governmental
            authorities in Sweden or in the USA; (ii) investing in venture
            capital funds that have interests in a business that is competitive
            with the Company, solely for investment purposes AND so long as the
            Vendor or person is not a controlling person or manager of such
            entity and Vendor does not directly or indirectly own 5 % or more of
            any class of securities or similar of such competitive entity /
            business.

7.3         If the Vendor fails to comply with the provisions of section 7.2
            then the Vendor shall in respect of every breach thereof pay to the
            Purchaser an agreed compensation in the amount of SEK fifty thousand
            (50,000) per breach. In case the damage caused by any such breach is
            greater than the aforesaid compensation, then the Purchaser shall be
            entitled to claim damages from the Vendor in respect of any such
            excess amount. The payment by the Vendor of agreed compensation
            and/or damages does not make any breach of this Agreement
            permissible.

8.          INDEMNIFICATION

8.1         INDEMNIFICATION

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8.1.1       The Vendor hereby agrees to indemnify the Purchaser against, and to
            hold the Purchaser harmless from, any and all damage, loss,
            liability and expense (including, without limitation, reasonable
            expenses of investigation and reasonable attorney's fees and
            expenses in connection with any action, suit or proceeding) incurred
            or suffered by the Purchaser (collectively referred to as "Loss")
            arising out of any breach of any of the Warranties, covenants or
            agreements made or to be performed by the Vendor pursuant to this
            Agreement.

8.1.2       For the avoidance of doubt and without restricting the right of the
            Purchaser or the ability of the Purchaser to claim damages on any
            basis in the event that any of the Warranties is broken or proves to
            by untrue or misleading, the Vendor covenants to pay on demand to
            the Purchaser:

            (A)   forty-two per cent (42%) of the amount which would be needed
                  to put the Company into the position which would have existed
                  if the Warranty had not been broken and had been true and not
                  misleading (provided that the breach is not due to gross
                  negligence of willful misconduct from the Vendor, in which
                  case the Vendor shall indemnify the Purchaser against one
                  hundred per cent (100%) of the whole Loss); and

            (B)   all costs and expenses incurred by the Purchase or the Company
                  directly or indirectly as a result of such breach.

            For the avoidance of doubt, the Vendor hereby confirms that damages
            due to any breach of sections 4, 6.2, and / or 7.2 shall be fully
            paid by the Vendor, i.e. without the restriction in this sub-section
            8.1.2 (A) above being applicable.

8.2         CLAIM

            No claims shall be brought by the Purchaser against the Vendor
            (unless it is a claim for breach of Sections 6.1 and 6.2 above) in
            respect of any Loss, unless notice in writing of any such claim,
            accompanied by reasonable particulars thereof specifying the nature
            of the breach and, so far as practicable, the amount claimed in
            respect thereof, has been given to the Vendor within one year from
            Completion. Notwithstanding the above, a claim relating to Tax
            Warranties may be made until the expiration of a three month period
            after a final judgement with respect to such liability has been
            rendered by a court or other tax authority of competent
            jurisdiction.

8.3         SHARES IN ESCROW

            Where no claim has been made by Purchaser pursuant to the terms and
            conditions of this Agreement and provided that a period of three
            months shall have elapsed since Completion, shares placed in escrow
            pursuant to section 7.1 above shall be released to the Vendor.

            Where Purchaser has made a claim however against the Vendor pursuant
            to the terms and conditions of this Agreement, and even where a
            period of three months shall have elapsed since Completion, the
            shares placed in escrow shall remain, without prejudice to any other
            rights of Purchaser, in escrow and shall continue to constitute
            security for any

<Page>

            amount that Vendor is obligated to pay to the Purchaser as
            indemnification of the Vendor's breach of its obligations in
            accordance with this Agreement. The Vendor accepts that the escrow
            agent may only release the shares to the Vendor subject to written
            notice from Purchaser stating that the escrow agent is permitted to
            release such shares to the Vendor or where the escrow agent is
            otherwise directed to do so pursuant to a court order. The Vendor
            agrees that it shall make no claims against the escrow agent.

9.          OTHER COVENANTS MADE BY EACH PARTY

9.1         OUTSTANDING DEBT TO VENDOR

            Subsequent to Completion, the Purchaser undertakes to procure that
            it shall settle its outstanding debt to the Company of an amount of
            SEK 2.657.533 no later than by 30 November 2001 and shall procure
            that the Company shall repay its debt to Vendor of the same amount.
            Purchaser's payment of shall be made to the Company's account with
            Svenska Handelsbanken, account no.: 6743 398 215 588 and Company's
            payment shall be made Vendor's account with Svenska Handelsbanken,
            account no.: 6743 135 127 092.

            The Purchaser may at its own discretion, without obligation to the
            Company and/or Vendor, settle amount set out in the preceding
            paragraph or portions thereof (as may be decided by Purchaser) above
            before 30 November 2001, in the event the Purchaser may at its own
            discretion determine that such measure may prevent the Company
            and/or the Vendor from becoming insolvent or from entering into a
            similar situation.

9.2         SUB-LEASE AGREEMENT

            The Vendor hereby confirms that as per 31 January 2002, the
            sub-lease agreement presently in force between the Vendor and
            Company concerning office premises located at Soft Center, 372 25
            Ronneby shall be terminated and the Vendor confirms that after that
            date the Company shall have no further obligations in relation to
            the Vendor as regards such sub-lease agreement save for rentals
            concerning the months of October, November, December 2001 and
            January 2002. The Vendor confirms that the rent as set out in the
            sub-lease agreement between the Vendor and the Company for said
            premises has been amended as follows:

            (i) for the month of October 2001, the rent shall correspond to 100
            % (one-hundred per cent) of the rent paid by Vendor to its landlord;
            and (ii) for the months of November 2001 - January 2002, the rent
            shall correspond to 75 % (seventy-five per cent) of the rent paid by
            Vendor to its landlord.

            The Vendor confirms that its landlord has approved that the Vendor
            may sub-lease the said premises to the Company and that the landlord
            has approved that such sub-lease may be transferred to Purchaser
            where required by the Purchaser.

            Unless otherwise agreed in writing, the Purchaser shall procure that
            the Company shall quit the premises no later than on 31 January
            2002.

            The Purchaser undertakes to support the Vendor in renegotiating its
            lease agreement regarding said premises with the Vendor's landlord
            in a manner as the Purchaser in its sole discretion deems
            appropriate. For the avoidance of doubt, this undertaking does not

<Page>

            create any obligation whatsoever for the Purchaser for which the
            Purchaser may be held liable.

9.3         RECRUITMENT

            The Vendor undertakes to make its best effort to support the
            Purchaser in its endeavours to recruit key personnel from the
            Vendor. The persons that may be recruited for employment with the
            Purchaser or with Purchaser's affiliated company are specified in
            ANNEX 9.3. In the event that personnel is recruited by Purchaser
            from the Vendor, the Purchaser undertakes to assume relevant
            vacation debts of the Vendor in relation to such person where
            applicable and in a manner as may be appropriate.

10.         CONFIDENTIALITY

            The Parties undertake not to disclose any information, whether
            written or oral, including, without limitation, financial
            information, trade secrets, client lists and other proprietary
            business information, relating to the business or the Company which
            information is not known to the general public, unless (i) required
            to do so by law or stock exchange regulations, or (ii) such
            disclosure has been consented to by the Purchaser.

11.         PUBLICATION

            The Parties shall mutually determine the date and the method of any
            publication of the Purchaser's acquisition hereunder, except as may
            be required by law or stock exchange regulations. If one of the
            Parties is obliged under law or such regulations to publish
            information about this Agreement or any part thereof, the other
            Party shall be informed thereof in connection with any such
            publication.

12.         AMENDMENTS

            This Agreement may only be amended by an instrument in writing duly
            executed by the Parties. No change, termination or modification of
            any of the provisions of this Agreement shall be binding on the
            Parties unless made in writing.

13.         NOTICES

            All notices, requests and other communications to the Parties
            hereunder shall be in the English language and deemed to be valid
            and effective if sent in writing to the addresses of the Parties
            stated in the preamble to this Agreement or to other addresses
            supplied at a later date.

<Page>

14.         GOVERNING LAW AND ARBITRATION

14.1        This Agreement shall in all respects be governed by and construed in
            accordance with the laws of Sweden.

14.2        Any dispute, controversy or claim arising out of or in connection
            with this Agreement or from agreements resulting therefrom, or the
            breach, termination or invalidity hereof or thereof, shall be
            exclusively settled by arbitration in accordance with the Rules of
            the Arbitration Institute of the Stockholm Chamber of Commerce. The
            arbitral tribunal shall be composed of three (3) arbitrators and the
            place of arbitration shall be Stockholm, Sweden. The arbitration
            proceedings shall be conducted in the English language.

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

IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be signed in
two (2) original copies by their respective duly authorised officers as of the
date first above written.

/s/ MIKAEL ROOS                  /s/ LARS WADELL
-------------------------       -------------------------

MICRONET AB                     CELLPOINT SYSTEMS AB

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