Document:

Exhibit 10.49
                          REGISTRATION RIGHTS AGREEMENT

     REGISTRATION RIGHTS AGREEMENT (this  "AGREEMENT"),  dated as of January 26,
2000, by and among EGLOBE, INC., a Delaware  corporation,  with its headquarters
located  at  1250  24th  Street,  NW,  Suite  725,  Washington,  DC  20037  (the
"COMPANY"),  and  each  of  the  undersigned  (together  with  their  respective
affiliates  and any assignee or  transferee  of all of their  respective  rights
hereunder, the "INITIAL INVESTORS").

     WHEREAS:

     A. In connection  with the Securities  Purchase  Agreement by and among the
parties hereto of even date herewith (the "SECURITIES PURCHASE AGREEMENT"),  the
Company  has  agreed,  upon the terms and  subject to the  conditions  contained
therein, to issue and sell to the Initial Investors:  (i) shares of its Series P
Convertible  Preferred Stock (the "PREFERRED  STOCK") that are convertible  into
shares of the  Company's  common  stock,  par value $.001 per share (the "Common
Stock"),  upon the terms and subject to the limitations and conditions set forth
in  the  Certificate  of  Designations,  Rights,  Preferences,   Privileges  and
Restrictions   with  respect  to  the  Preferred  Stock  (the   "CERTIFICATE  OF
DESIGNATION");  and (ii)  stock  purchase  warrants  (the  "WARRANTS")  that are
exercisable into shares of Common Stock upon the terms and conditions subject to
the terms and conditions set forth in the Warrants; and

     B. To induce the Initial  Investors  to execute and deliver the  Securities
Purchase  Agreement,  the  Company  has agreed to provide  certain  registration
rights  under  the  Securities  Act of  1933,  as  amended,  and the  rules  and
regulations  thereunder,  or any similar  successor statute  (collectively,  the
"1933 ACT"), and applicable state securities laws.

     NOW,  THEREFORE,  in consideration of the premises and the mutual covenants
contained  herein and other good and  valuable  consideration,  the  receipt and
sufficiency  of which  are  hereby  acknowledged,  the  Company  and each of the
Initial Investors hereby agree as follows:

     1. DEFINITIONS.

     a. As used in this Agreement,  the following terms shall have the following
meanings:

     (i) "INVESTORS"  means the Initial Investors and any transferee or assignee
who agrees to become bound by the  provisions  of this  Agreement in  accordance
with Section 9 hereof.

     (ii) "REGISTER,"  "REGISTERED," and "REGISTRATION"  refer to a registration
effected by  preparing  and filing a  Registration  Statement or  Statements  in
compliance with the

<PAGE>

1933 Act and  pursuant  to Rule 415  under  the 1933 Act or any  successor  rule
providing for offering  securities on a continuous  basis ("RULE 415"),  and the
declaration or ordering of effectiveness of such  Registration  Statement by the
United States Securities and Exchange Commission (the "SEC").

     (iii)  "REGISTRABLE  SECURITIES" means: (A) the Conversion Shares issued or
issuable  upon  conversion  of or  otherwise  pursuant to the  Preferred  Shares
(including,  without  limitation,  any shares  issued or  issuable  pursuant  to
Articles V, VI.D(b) and VI.E of the  Certificate of Designation and Section 2(c)
herein); (B) the Warrant Shares issued or issuable upon exercise of or otherwise
pursuant to the Warrants; and (C) any shares of capital stock issued or issuable
as a dividend  on or in exchange  for or  otherwise  with  respect to any of the
foregoing.

     (iv) "REGISTRATION  STATEMENT(S)" means a registration  statement(s) of the
Company under the 1933 Act.

     b.  Capitalized  terms used herein and not otherwise  defined  herein shall
have the respective meanings set forth in the Securities Purchase Agreement.

     2. REGISTRATION.

     a.  MANDATORY  REGISTRATION.  The Company shall prepare and, on or prior to
April 1, 2000 (the "FILING DATE"), file with the SEC a Registration Statement on
Form S-1 covering the resale of the Registrable  Securities,  which Registration
Statement,  to the  extent  allowable  under  the  1933  Act and the  rules  and
regulations  promulgated  thereunder (including Rule 416), shall state that such
Registration  Statement  also covers  such  indeterminate  number of  additional
shares of Common Stock as may become  issuable  upon  conversion of or otherwise
pursuant  to the  Preferred  Shares to  prevent  dilution  resulting  from stock
splits, stock dividends or similar transactions.  The number of shares of Common
Stock  initially  included in such  Registration  Statement  shall be  6,000,000
shares. The Company acknowledges that the number of shares initially included in
the  Registration  Statement  represents  a good faith  estimate  of the maximum
number of shares  issuable  upon  conversion  of or  otherwise  pursuant  to the
Preferred Shares and upon exercise of or otherwise pursuant to the Warrants. The
Registration  Statement  (and each  amendment or  supplement  thereto,  and each
request for  acceleration  of  effectiveness  thereof) shall be provided to (and
subject to the approval of the Initial  Investors and their counsel prior to its
filing or other submission.

     b. [INTENTIONALLY OMITTED]

     c.  PAYMENTS  BY THE  COMPANY.  The Company  shall use its best  efforts to
obtain effectiveness of the Registration  Statement as soon as practicable,  but
in any event not later  than the one  hundred  twentieth  (120th)  day after the
Closing  Date  (as  defined  in  the   Securities   Purchase   Agreement)   (the
"REGISTRATION  DEADLINE").  If  (i)  the  Registration  Statement  covering  the
Registrable  Securities  required to be filed by the Company pursuant to Section
2(a)

<PAGE>

hereof is not declared  effective by the SEC by the  Registration  Deadline,  or
(ii) after the  Registration  Statement has been declared  effective by the SEC,
sales  of all of the  Registrable  Securities  cannot  be made  pursuant  to the
Registration  Statement, or (iii) the Common Stock is not listed or included for
quotation on the Nasdaq National Market  ("NASDAQ"),  the Nasdaq SmallCap Market
("NASDAQ  SMALLCAP"),  the New York Stock  Exchange (the "NYSE") or the American
Stock  Exchange  (the "AMEX")  after being so listed or included for  quotation,
then the Company will make payments to the Investors in such amounts and at such
times as shall be determined pursuant to this Section 2(c) as partial relief for
the  damages to the  Investors  by reason of any such delay in or  reduction  of
their  ability to sell the  Registrable  Securities  (which  remedy shall not be
exclusive  of any other  remedies  available  at law or in equity).  The Company
shall pay to each holder of the Preferred  Shares or  Registrable  Securities an
amount equal to the stated  value of Preferred  Shares held by such holder (and,
in the case of holders of Registrable Securities,  the stated value of Preferred
Shares from which such Registrable  Securities were converted) ("AGGREGATE SHARE
PRICE") multiplied by the Applicable Percentage (as defined below) times the sum
of: (i) the number of months  (prorated for partial months) after the end of the
Registration  Deadline  and  prior  to the date the  Registration  Statement  is
declared effective by the SEC; provided,  however,  that there shall be excluded
from such period any delays which are solely attributable to changes required by
the Investors in the Registration Statement with respect to information relating
to  the  Investors,  including,  without  limitation,  changes  to the  plan  of
distribution,  or to the failure of the Investors to conduct their review of the
Registration  Statement  pursuant to Section 3(h) below in a  reasonably  prompt
manner;  (ii) the number of months  (prorated  for  partial  months)  during the
Registration  Period (as  defined  below)  that sales of all of the  Registrable
Securities  cannot be made  pursuant  to the  Registration  Statement  after the
Registration   Statement  has  been  declared  effective   (including,   without
limitation,  when  sales  cannot be made by reason of the  Company's  failure to
properly  supplement or amend the prospectus included therein in accordance with
the terms of this Agreement  (including  Section 3(b) hereof or otherwise),  but
excluding  any days during an Allowed  Delay (as defined in Section  3(f));  and
(iii) the number of months  (prorated for partial  months) that the Common Stock
is not listed or included for quotation on the Nasdaq, Nasdaq SmallCap,  NYSE or
AMEX or that trading thereon is halted after the Registration Statement has been
declared  effective.  The term  "APPLICABLE  PERCENTAGE"  means  .75  hundredths
(.0075)  with  respect to the first  thirty (30) days of any  calculation  under
clause (i) of the preceding  sentence,  and 1.5 hundredths  (.015) for any other
purpose.  (For example, if the Registration  Statement becomes effective one (1)
month after the  Registration  Deadline,  the Company  would pay $7,500 for each
$1,000,000  of Aggregate  Share Price.  If  thereafter,  sales could not be made
pursuant  to the  Registration  Statement  for an  additional  period of one (1)
month,  the  Company  would pay an  additional  $15,000 for each  $1,000,000  of
Aggregate  Share  Price.)  Such  amounts  shall  be  paid in  cash  or,  at each
Investor's  option,  may be added to the  Conversion  Amount (as  defined in the
Certificate of Designation) of the Preferred  Shares pursuant to Article VI.A(a)
of the  Certificate  of Designation  and  thereafter be convertible  into Common
Stock at the  "CONVERSION  PRICE" (as defined in the Certificate of Designation)
in accordance with the terms of the Preferred Shares. Any shares of Common Stock
issued upon conversion of such amounts shall be Registrable  Securities.  If the
Investor   desires  to  convert  the  amounts  due  hereunder  into  Registrable
Securities,  it shall so notify the Company in writing  within two (2)  business
days of the  date on which  such  amounts  are  first  payable  in cash and such
amounts  shall be so  convertible  (pursuant to the  mechanics  set forth in the
Certificate of Designation), beginning on the last day upon

<PAGE>

which the cash amount would  otherwise be due in  accordance  with the following
sentence.  Payments of cash  pursuant  hereto shall be made within five (5) days
after the end of each period that gives rise to such obligation,  provided that,
if any such period  extends for more than  thirty  (30) days,  interim  payments
shall be made for each such thirty (30) day period.

     d. PIGGY-BACK  REGISTRATIONS.  Subject to the last sentence of this Section
2(d),  if at any time prior to the  expiration  of the  Registration  Period (as
hereinafter  defined)  the  Company  shall  determine  to  file  with  the SEC a
Registration  Statement  relating  to an  offering  for its own  account  or the
account of others under the 1933 Act of any of its equity securities (other than
on Form S-4 or Form S-8 or their then equivalents  relating to equity securities
to be issued solely in connection with any acquisition of any entity or business
or equity securities  issuable in connection with stock option or other employee
benefit  plans),  the  Company  shall send to each  Investor  who is entitled to
registration rights under this Section 2(d) written notice of such determination
and, if within fifteen (15) days after the effective  date of such notice,  such
Investor  shall so  request  in  writing,  the  Company  shall  include  in such
Registration  Statement  all or any  part  of the  Registrable  Securities  such
Investor  requests  to be  registered,  except that if, in  connection  with any
underwritten  public  offering  for the  account  of the  Company  the  managing
underwriter(s)  thereof  shall  impose a  limitation  on the number of shares of
Common Stock which may be included in the  Registration  Statement  because,  in
such  underwriter(s)'   judgment,   marketing  or  other  factors  dictate  such
limitation  is necessary to  facilitate  public  distribution,  then the Company
shall be obligated to include in such  Registration  Statement only such limited
portion of the  Registrable  Securities  with respect to which such Investor has
requested  inclusion hereunder as the underwriter shall permit. Any exclusion of
Registrable  Securities  shall be made pro rata among the  Investors  seeking to
include  Registrable  Securities  in  proportion  to the  number of  Registrable
Securities sought to be included by such Investors;  provided, however, that the
Company  shall not exclude  any  Registrable  Securities  unless the Company has
first excluded all outstanding securities, the holders of which are not entitled
by contract to inclusion of such  securities in such  Registration  Statement or
are not entitled to pro rata  inclusion  with the  Registrable  Securities;  and
provided,  further,  however,  that,  after  giving  effect  to the  immediately
preceding  proviso,  any exclusion of Registrable  Securities  shall be made pro
rata with holders of other  securities  having the contractual  right to include
such securities in the  Registration  Statement other than holders of securities
entitled to  inclusion of their  securities  in such  Registration  Statement by
reason of demand  registration  rights.  No right to registration of Registrable
Securities  under this Section 2(d) shall be construed to limit any registration
required under Section 2(a) hereof.  If an offering in connection  with which an
Investor is entitled to registration  under this Section 2(d) is an underwritten
offering,  then each Investor whose Registrable  Securities are included in such
Registration  Statement shall, unless otherwise agreed by the Company, offer and
sell such  Registrable  Securities in an  underwritten  offering  using the same
underwriter or underwriters and, subject to the provisions of this Agreement, on
the same terms and  conditions as other shares of Common Stock  included in such
underwritten  offering.  Notwithstanding  anything  to the  contrary  set  forth
herein,  the registration  rights of the Investors pursuant to this Section 2(d)
shall only be  available in the event the Company  fails to timely file,  obtain
effectiveness  or maintain  effectiveness  of any  Registration  Statement to be
filed pursuant to Section 2(a) in accordance with the terms of this Agreement.

<PAGE>

     e. ELIGIBILITY FOR FORM S-1; CONVERSION TO FORM S-3. The Company represents
and  warrants  that it  meets  the  requirements  for  the  use of Form  S-1 for
registration of the sale by the Initial Investors and any other Investors of the
Registrable  Securities.  The Company agrees to timely file all reports required
to be filed by the Company with the SEC pursuant to Section 13 of the Securities
Exchange Act of 1934, as amended (the "1934 ACT") so as to become eligible,  and
thereafter to maintain its eligibility,  for the use of Form S-3. Not later than
ten (10) days after the Company  first meets the  registration  eligibility  and
transaction  requirements  for the use of Form S-3 (or any  successor  form) for
registration  of the  offer  and sale by the  Initial  Investors  and any  other
Investors  of  Registrable  Securities,  the Company  shall file a  Registration
Statement on Form S-3 (or such successor  form) with respect to the  Registrable
Securities  covered by the Registration  Statement on Form S-1 filed pursuant to
Section  2(a)  (and  include  in such  Registration  Statement  on Form  S-3 the
information required by Rule 429 under the 1933 Act) or convert the Registration
Statement  on Form S-1 filed  pursuant to Section 2(a) to a Form S-3 pursuant to
Rule 429 under the 1933 Act and use its best  efforts to have such  Registration
Statement  (or  such  amendment)  declared  effective  as  soon  as  practicable
thereafter;  provided,  however,  that the  Company  shall  include  a  separate
prospectus for the Registrable  Securities in any such Registration Statement on
Form S-3,  and shall not, and shall not agree to, allow the holders of any other
securities of the Company to include any of their securities in such prospectus,
or any  amendment or supplement  thereto under Section 3(b) hereof,  without the
consent of a majority-in-interest of the Registrable Securities.

     3. OBLIGATIONS OF THE COMPANY.

     In connection  with the  registration of the  Registrable  Securities,  the
Company shall have the following obligations:

     a. The Company  shall  prepare  promptly,  and file with the SEC as soon as
practicable after the Closing Date (but in no event later than the Filing Date),
a Registration  Statement  with respect to the number of Registrable  Securities
provided in Section  2(a),  and  thereafter  use its best  efforts to cause such
Registration Statement relating to Registrable Securities to become effective as
soon as possible after such filing (but in no event later than the  Registration
Deadline), and keep the Registration Statement (and, following the effectiveness
of the  Registration  Statement  on Form S-3 referred to in Section  2(e),  such
later Registration  Statement) effective pursuant to Rule 415 at all times until
such  date as is the  earlier  of (i) the date on which  all of the  Registrable
Securities have been sold and (ii) the date on which the Registrable  Securities
(in the opinion of counsel to the Initial  Investors) may be immediately sold to
the public without registration or restriction  (including without limitation as
to  volume  by each  holder  thereof)  under  the 1933  Act  (the  "REGISTRATION
PERIOD"),  which  Registration  Statement  (including the  prospectus  contained
therein,  as amended or supplemented  by any amendments or supplements  thereto)
shall not contain  any untrue  statement  of a material  fact or omit to state a
material fact required to be stated therein, or necessary to make the statements
therein not misleading.

<PAGE>

     b.  The  Company  shall  prepare  and file  with  the SEC  such  amendments
(including  post-effective  amendments)  and  supplements  to  the  Registration
Statements  and  the  prospectus  used  in  connection  with  the   Registration
Statements as may be necessary to keep the Registration  Statements effective at
all times during the Registration  Period, and, during such period,  comply with
the  provisions  of  the  1933  Act  with  respect  to  the  disposition  of all
Registrable  Securities of the Company  covered by the  Registration  Statements
until such time as all of such  Registrable  Securities have been disposed of in
accordance  with the intended  methods of  disposition  by the seller or sellers
thereof as set forth in the  Registration  Statements.  In the event that on any
Trading Day (as defined in the  Certificate of Designation)  (the  "REGISTRATION
TRIGGER DATE") the number of shares  available  under a  Registration  Statement
filed pursuant to this Agreement is insufficient to cover all of the Registrable
Securities  issued or issuable upon  conversion of or otherwise  pursuant to the
Preferred  Shares (based on the lesser of the Variable  Conversion Price and the
Fixed Conversion Price (each as defined in the Certificate of Designation)  then
in effect)  exercise  of or  otherwise  pursuant to the  Warrants,  in each case
without giving effect to any  limitations  on the Investors'  ability to convert
the  Preferred  Shares or exercise  the  Warrants,  the Company  shall amend the
Registration  Statement, or file a new Registration Statement (on the short form
available therefore, if applicable), or both, so as to cover two hundred percent
(200%) of all of the  Registrable  Securities  so issued  or  issuable  (without
giving effect to any  limitations  on  conversion  or exercise  contained in the
Certificate of Designation or the Warrants) as of the Registration Trigger Date,
in each  case,  as soon as  practicable,  but in any event  within  twenty  (20)
business days after the necessity  therefor arises (based on the market price of
the Common  Stock and other  relevant  factors on which the  Company  reasonably
elects to rely).  The Company shall use its best efforts to cause such amendment
and/or new  Registration  Statement to become  effective as soon as  practicable
following  the filing  thereof,  but in any event  within sixty (60) days of the
Registration  Trigger  Date.  The  provisions  of Section  2(c)  above  shall be
applicable with respect to the Company's obligations under this Section 3(b).

     c. The Company shall furnish to each Investor whose Registrable  Securities
are  included in a  Registration  Statement  and its legal  counsel (i) promptly
after the same is  prepared  and  publicly  distributed,  filed with the SEC, or
received  by the  Company,  one  copy of  each  Registration  Statement  and any
amendment thereto, each preliminary prospectus and prospectus and each amendment
or supplement thereto,  and, in the case of the Registration  Statement referred
to in Section  2(a),  each letter  written by or on behalf of the Company to the
SEC or the staff of the SEC, and each item of correspondence from the SEC or the
staff of the SEC, in each case relating to such  Registration  Statement  (other
than any portion of any thereof which contains information for which the Company
has  sought  confidential  treatment),  and (ii)  such  number  of  copies  of a
prospectus,   including  a  preliminary  prospectus,   and  all  amendments  and
supplements  thereto and such other  documents as such  Investor may  reasonably
request in order to facilitate  the  disposition of the  Registrable  Securities
owned by such  Investor.  The Company  will  promptly  notify  each  Investor by
facsimile  of  the   effectiveness  of  each   Registration   Statement  or  any
post-effective  amendment.  The  Company  will  promptly  respond to any and all
comments  received from the SEC, with a view towards  causing each  Registration
Statement or any amendment  thereto to be declared  effective by the SEC as soon
as  practicable  and shall file an  acceleration  request as soon as practicable
following the resolution or clearance

<PAGE>

of all SEC comments or, if applicable,  following  notification  by the SEC that
any such Registration  Statement or any amendment thereto will not be subject to
review.

     d. The Company shall use reasonable efforts to (i) register and qualify the
Registrable  Securities covered by the Registration  Statements under such other
securities or "blue sky" laws of such  jurisdictions in the United States as the
Investors who hold a majority in interest of the  Registrable  Securities  being
offered reasonably  request,  (ii) prepare and file in those  jurisdictions such
amendments  (including  post-effective   amendments)  and  supplements  to  such
registrations   and   qualifications   as  may  be  necessary  to  maintain  the
effectiveness  thereof  during the  Registration  Period,  (iii) take such other
actions as may be necessary to maintain such registrations and qualifications in
effect at all times  during  the  Registration  Period,  and (iv) take all other
actions reasonably necessary or advisable to qualify the Registrable  Securities
for sale in such jurisdictions; provided, however, that the Company shall not be
required in connection  therewith or as a condition thereto to (a) qualify to do
business in any jurisdiction where it would not otherwise be required to qualify
but for this Section 3(d),  (b) subject  itself to general  taxation in any such
jurisdiction,  (c) file a general  consent  to  service  of  process in any such
jurisdiction,  (d) provide any undertakings that cause the Company undue expense
or burden,  or (e) make any change in its charter or bylaws,  which in each case
the Board of  Directors  of the  Company  determines  to be contrary to the best
interests of the Company and its stockholders.

     5. [Intentionally Omitted]

     f. As promptly  as  practicable  after  becoming  aware of such event,  the
Company shall notify each  Investor of the happening of any event,  of which the
Company  has  knowledge,  as a result of which the  prospectus  included  in any
Registration  Statement,  as then in effect,  includes an untrue  statement of a
material fact or omission to state a material fact required to be stated therein
or  necessary  to make the  statements  therein not  misleading  (including  the
failure to timely  file a Form 8-K or  amendment  thereto in  connection  with a
business  acquisition  by the  Company),  and use its best  efforts  promptly to
prepare a supplement or amendment to any Registration  Statement to correct such
untrue  statement  or  omission,  and  deliver  such  number  of  copies of such
supplement  or  amendment  to each  Investor  as such  Investor  may  reasonably
request;  provided that, for not more than forty-five (45) consecutive  calendar
days (or a total of not more than ninety (90)  calendar  days in any twelve (12)
month  period),  the Company  may delay the  disclosure  of material  non-public
information  concerning  the  Company  (as well as  prospectus  or  Registration
Statement  updating)  the  disclosure  of which at the time is not,  in the good
faith opinion of the Company,  in the best interests of the Company (an "ALLOWED
DELAY");  provided,  further,  that the Company  shall  promptly  (i) notify the
Investors  in writing of the  existence  of (but in no event,  without the prior
written consent of an Investor,  shall the Company disclose to such Investor any
of the facts or  circumstances  regarding) any material  non-public  information
giving  rise to an Allowed  Delay and (ii)  advise the  Investors  in writing to
cease all sales under such  Registration  Statement until the end of the Allowed
Delay. Upon expiration of the Allowed Delay, the Company shall again be bound by
the first sentence of this Section 3(f) with respect to the  information  giving
rise thereto.

     g. The Company  shall use its best  efforts to prevent the  issuance of any
stop order or other suspension of  effectiveness of any Registration  Statement,
and, if such an order is

<PAGE>

issued,  to obtain the withdrawal of such order at the earliest  possible moment
and to notify each Investor who holds Registrable  Securities being sold (or, in
the  event  of an  underwritten  offering,  the  managing  underwriters)  of the
issuance of such order and the resolution thereof.

     h. The  Company  shall  permit a single firm of counsel  designated  by the
Initial Investors to review such  Registration  Statement and all amendments and
supplements  thereto (as well as all requests for  acceleration or effectiveness
thereof) a reasonable period of time prior to their filing with the SEC, and not
file any  document in a form to which such counsel  reasonably  objects and will
not request acceleration of such Registration  Statement without prior notice to
such counsel.  The sections of such Registration  Statement covering information
with respect to the Investors, the Investor's beneficial ownership of securities
of the Company or the Investors  intended  method of  disposition of Registrable
Securities  shall conform to the information  provided to the Company by each of
the Investors.

     i. The Company shall make  generally  available to its security  holders as
soon as practicable,  but not later than ninety (90) days after the close of the
period  covered  thereby,  an earnings  statement  (in form  complying  with the
provisions  of Rule 158 under  the 1933  Act)  covering  a  twelve-month  period
beginning  not later than the first day of the  Company's  fiscal  quarter  next
following the effective date of the Registration Statement.

     j. At the request of any Investor participating in an underwritten offering
pursuant  to  Section  2(d),  the  Company  shall  furnish,  on  the  date  that
Registrable  Securities are delivered to an  underwriter  for sale in connection
with any Registration  Statement pursuant to Section 2(d), (i) an opinion, dated
as of such date,  from  counsel  representing  the Company for  purposes of such
Registration  Statement, in form, scope and substance as is customarily given in
an underwritten public offering, addressed to the underwriters,  if any, and the
Investors and (ii) a letter,  dated such date,  from the  Company's  independent
certified  public  accountants in form and substance as is customarily  given by
independent  certified  public  accountants to  underwriters  in an underwritten
public offering, addressed to the underwriters, if any, and the Investors.

     k. The Company shall make  available for inspection by (i) any Investor and
(ii) one firm of attorneys and one firm of accountants retained by the Investors
(collectively,  the "INSPECTORS") all pertinent financial and other records, and
pertinent corporate documents and properties of the Company  (collectively,  the
"RECORDS"),  as shall be reasonably deemed necessary by each Inspector to enable
each  Inspector  to exercise  its due  diligence  responsibility,  and cause the
Company's officers,  directors and employees to supply all information which any
Inspector may reasonably  request for purposes of such due diligence;  provided,
however,  that each  Inspector  shall hold in confidence  and shall not make any
disclosure  (except to an Investor) of any Record or other information which the
Company determines in good faith to be confidential,  and of which determination
the  Inspectors  are so notified,  unless (a) the  disclosure of such Records is
necessary  to avoid or correct a  misstatement  or omission in any  Registration
Statement,  (b) the release of such Records is ordered pursuant to a subpoena or
other order from a court or government  body of competent  jurisdiction,  or (c)
the information in such Records has been made generally  available to the public
other  than by  disclosure  in  violation  of this or any other  agreement.  The
Company shall not be required to disclose any  confidential  information in such
Records to any Inspector until and unless such Inspector shall have entered into

<PAGE>

confidentiality  agreements (in form and substance  satisfactory to the Company)
with the Company with respect thereto, substantially in the form of this Section
3(k). Each Investor agrees that it shall,  upon learning that disclosure of such
Records  is  sought  in  or  by  a  court  or  governmental  body  of  competent
jurisdiction or through other means, give prompt notice to the Company and allow
the  Company,  at its  expense,  to  undertake  appropriate  action  to  prevent
disclosure  of,  or to  obtain  a  protective  order  for,  the  Records  deemed
confidential.  Nothing herein (or in any other confidentiality agreement between
the Company and any Investor) shall be deemed to limit the Investor's ability to
sell  Registrable  Securities  in a manner  which is otherwise  consistent  with
applicable laws and regulations.

     l. The Company  shall hold in  confidence  and not make any  disclosure  of
information concerning an Investor provided to the Company unless (i) disclosure
of such  information  is necessary  to comply with  federal or state  securities
laws, (ii) the disclosure of such information is necessary to avoid or correct a
misstatement  or omission in any  Registration  Statement,  (iii) the release of
such  information is ordered  pursuant to a subpoena or other order from a court
or governmental  body of competent  jurisdiction,  or (iv) such  information has
been  made  generally  available  to the  public  other  than by  disclosure  in
violation of this or any other agreement. The Company agrees that it shall, upon
learning that disclosure of such information concerning an Investor is sought in
or by a court or  governmental  body of competent  jurisdiction or through other
means, give prompt notice to such Investor prior to making such disclosure,  and
allow the Investor,  at its expense, to undertake  appropriate action to prevent
disclosure of, or to obtain a protective order for, such information.

     m. The Company shall (i) cause all the  Registrable  Securities  covered by
the Registration  Statement to be listed on each national securities exchange on
which  securities  of the same class or series  issued by the  Company  are then
listed, if any, if the listing of such Registrable  Securities is then permitted
under the rules of such  exchange,  or (ii) to the extent the  securities of the
same class or series  are not then  listed on a  national  securities  exchange,
secure the designation and quotation of all the Registrable  Securities  covered
by the  Registration  Statement  on Nasdaq or, if not eligible for Nasdaq on the
Nasdaq  SmallCap  and,  without  limiting the  generality of the  foregoing,  to
arrange for at least two market makers to register with the National Association
of Securities  Dealers,  Inc.  ("NASD") as such with respect to such Registrable
Securities.

     n. The Company shall provide a transfer agent and registrar, which may be a
single entity, for the Registrable  Securities not later than the effective date
of the Registration Statement.

     o. The Company shall  cooperate  with the  Investors  who hold  Registrable
Securities being offered and the managing  underwriter or underwriters,  if any,
to facilitate the timely  preparation and delivery of certificates  (not bearing
any  restrictive  legends)  representing  Registrable  Securities  to be offered
pursuant to a Registration  Statement and enable such certificates to be in such
denominations  or amounts,  as the case may be, as the managing  underwriter  or
underwriters,  if any, or the Investors may reasonably request and registered in
such names as the managing underwriter or underwriters, if any, or the Investors
may request, and, within three (3) business days after a Registration  Statement
which includes Registrable

<PAGE>

Securities is ordered effective by the SEC, the Company shall deliver, and shall
cause legal counsel  selected by the Company to deliver,  to the transfer  agent
for the Registrable  Securities (with copies to the Investors whose  Registrable
Securities  are included in such  Registration  Statement) an instruction in the
form attached  hereto as EXHIBIT 1 and an opinion of such counsel  substantially
to the effect set forth on the form attached  hereto as EXHIBIT 2 and reasonably
satisfactory to such transfer agent.

     p.  At  the  request  of  the  holders  of a  majority-in-interest  of  the
Registrable  Securities,  the Company  shall  prepare and file with the SEC such
amendments   (including   post-effective   amendments)   and  supplements  to  a
Registration   Statement  and  any  prospectus   used  in  connection  with  the
Registration  Statement  as may be  necessary  in  order to  change  the plan of
distribution set forth in such Registration Statement.

     q. Except as set forth in SCHEDULE 3(q) and except for  additional  holders
of securities  of the Company  where the  inclusion of such holder's  securities
would not materially increase the number of shares being registered, the Company
shall not,  and shall not agree to, allow the holders of any  securities  of the
Company to include any of their securities in any  Registration  Statement under
Section 2(a) hereof or any  amendment or  supplement  thereto under Section 3(b)
hereof  without  the  consent of the  holders of a  majority-in-interest  of the
Registrable Securities.  In addition, the Company shall not offer any securities
for its own account or the account of others in any Registration Statement under
Section 2(a) hereof or any  amendment or  supplement  thereto under Section 3(b)
hereof  without  the consent of the  holders of a  majority-in-  interest of the
Registrable Securities.

     r.  Subject to the  provisions  hereof,  the  Company  shall take all other
reasonable  actions  necessary to expedite  and  facilitate  disposition  by the
Investors of Registrable Securities pursuant to a Registration Statement.

     s.  The  Company  shall  comply  with  all  applicable  laws  related  to a
Registration  Statement and offering and sale of securities  and all  applicable
rules and  regulations  of  governmental  authorities  in  connection  therewith
(including  without  limitation  the 1933 Act and the 1934 Act and the rules and
regulations promulgated by the SEC).

     4. OBLIGATIONS OF THE INVESTORS.

     In connection  with the  registration of the  Registrable  Securities,  the
Investors shall have the following obligations:

     a. It shall be a condition  precedent to the  obligations of the Company to
complete  the  registration  pursuant  to this  Agreement  with  respect  to the
Registrable Securities of a particular Investor that such Investor shall furnish
to the Company such information  regarding  itself,  the Registrable  Securities
held by it and the intended method of disposition of the Registrable  Securities
held by it as shall be reasonably  required to effect the  registration  of such
Registrable  Securities and shall execute such documents in connection with such
registration as the Company may reasonably  request. At least three (3) business
days prior to the first

<PAGE>

anticipated filing date of the Registration Statement,  the Company shall notify
each Investor of the information the Company requires from each such Investor.

     b.  Each  Investor,  by  such  Investor's  acceptance  of  the  Registrable
Securities,  agrees to cooperate with the Company as reasonably requested by the
Company  in  connection  with the  preparation  and  filing of the  Registration
Statements  hereunder,  unless such Investor has notified the Company in writing
of such  Investor's  election  to  exclude  all of such  Investor's  Registrable
Securities from the Registration Statements.

     c. In the event of an underwritten  offering pursuant to Section 2(d), each
Investor agrees to enter into and perform such Investor's  obligations  under an
underwriting  agreement,  in  usual  and  customary  form,  including,   without
limitation,  customary  indemnification and contribution  obligations,  with the
managing  underwriter  of such  offering  and take  such  other  actions  as are
reasonably  required in order to expedite or facilitate  the  disposition of the
Registrable Securities, unless such Investor has notified the Company in writing
of such  Investor's  election  to  exclude  all of such  Investor's  Registrable
Securities from such Registration Statement.

     d. Each Investor  agrees that,  upon receipt of any notice from the Company
of the  happening  of any event of the kind  described  in Section 3(f) or 3(g),
such Investor will immediately discontinue disposition of Registrable Securities
pursuant to the  Registration  Statement  covering such  Registrable  Securities
until  such  Investor's  receipt of the  copies of the  supplemented  or amended
prospectus  contemplated  by Section  3(f) or 3(g) and,  if so  directed  by the
Company,  such  Investor  shall  deliver to the  Company  (at the expense of the
Company) or destroy (and deliver to the Company a  certificate  of  destruction)
all  copies in such  Investor's  possession,  of the  prospectus  covering  such
Registrable Securities current at the time of receipt of such notice.

     e. No Investor may participate in any underwritten registration pursuant to
Section 2(d) hereunder  unless such Investor (i) agrees to sell such  Investor's
Registrable Securities on the basis provided in any underwriting arrangements in
usual and  customary  form  entered  into by the  Company,  (ii)  completes  and
executes  all  questionnaires,  powers of  attorney,  indemnities,  underwriting
agreements  and  other  documents  reasonably  required  under the terms of such
underwriting  arrangements,  and (iii)  agrees to pay its pro rata  share of all
underwriting  discounts  and  commissions  and any  expenses  in excess of those
payable by the Company pursuant to Section 5 below.

     5. EXPENSES OF REGISTRATION.

     All reasonable expenses, other than underwriting discounts and commissions,
incurred in connection with registrations, filings or qualifications pursuant to
Sections 2 and 3, including,  without limitation, all registration,  listing and
qualification  fees, printers and accounting fees, the fees and disbursements of
counsel  for the  Company,  and the  reasonable  fees and  disbursements  of one
counsel  selected by the Initial  Investors  pursuant to Sections  2(b) and 3(h)
hereof  shall be borne by the  Company,  provided  that such  expenses  shall be
counted toward and subject to the

<PAGE>

same aggregate cap as the expenses to be reimbursed  pursuant to Section 4(f) of
the Securities Purchase Agreement.

     6. INDEMNIFICATION.

     In the event any  Registrable  Securities  are  included in a  Registration
Statement under this Agreement:

     a. To the  extent  permitted  by law,  the  Company  will  indemnify,  hold
harmless and defend (i) each Investor who holds such Registrable  Securities and
(ii) the directors,  officers,  partners,  employees, agents and each person who
controls  any  Investor  within the  meaning  of the 1933 Act or the  Securities
Exchange Act of 1934, as amended (the "1934 ACT"), if any (each, an "INDEMNIFIED
PERSON"),  against any joint or several losses, claims, damages,  liabilities or
expenses (collectively,  together with actions,  proceedings or inquiries by any
regulatory or self-regulatory organization,  whether commenced or threatened, in
respect  thereof,  "CLAIMS") to which any of them may become subject  insofar as
such Claims arise out of or are based upon: (i) any untrue  statement or alleged
untrue statement of a material fact in a Registration  Statement or the omission
or alleged  omission to state  therein a material  fact required to be stated or
necessary  to make the  statements  therein  not  misleading;  (ii)  any  untrue
statement  or alleged  untrue  statement  of a material  fact  contained  in any
preliminary  prospectus if used prior to the effective date of such Registration
Statement, or contained in the final prospectus (as amended or supplemented,  if
the Company files any amendment  thereof or supplement  thereto with the SEC) or
the omission or alleged omission to state therein any material fact necessary to
make the statements made therein,  in light of the circumstances under which the
statements therein were made, not misleading;  or (iii) any violation or alleged
violation  by the  Company  of the  1933  Act,  the 1934  Act,  any  other  law,
including,  without  limitation,  any  state  securities  law,  or any  rule  or
regulation  thereunder  relating  to  the  offer  or  sale  of  the  Registrable
Securities  (the  matters in the  foregoing  clauses  (i) through  (iii)  being,
collectively,  "VIOLATIONS").  Subject to the  restrictions set forth in Section
6(c) with respect to the number of legal  counsel,  the Company shall  reimburse
the Indemnified  Person,  promptly as such expenses are incurred and are due and
payable,  for any reasonable legal fees or other reasonable expenses incurred by
them  in   connection   with   investigating   or  defending   any  such  Claim.
Notwithstanding  anything to the contrary contained herein, the  indemnification
agreement contained in this Section 6(a): (i) shall not apply to a Claim arising
out of or based upon a Violation which occurs in reliance upon and in conformity
with information  furnished in writing to the Company by any Indemnified  Person
expressly  for use in  connection  with  the  preparation  of such  Registration
Statement or any such amendment  thereof or supplement  thereto;  (ii) shall not
apply to amounts paid in settlement of any Claim if such  settlement is effected
without the prior  written  consent of the Company,  which  consent shall not be
unreasonably  withheld;  and (iii) with respect to any  preliminary  prospectus,
shall not inure to the benefit of any Indemnified Person if the untrue statement
or  omission  of material  fact  contained  in the  preliminary  prospectus  was
corrected on a timely basis in the prospectus,  as then amended or supplemented,
such corrected  prospectus was timely made available by the Company  pursuant to
Section 3(c) hereof,  and the Indemnified Person was promptly advised in writing
not to use the incorrect  prospectus prior to the use giving rise to a Violation
and such Indemnified Person,

<PAGE>

notwithstanding  such advice, used it. Such indemnity shall remain in full force
and  effect  regardless  of  any  investigation  made  by or on  behalf  of  the
Indemnified Person and shall survive the transfer of the Registrable  Securities
by the Investors pursuant to Section 9.

     b. In connection  with any  Registration  Statement in which an Investor is
participating, each such Investor agrees severally and not jointly to indemnify,
hold harmless and defend, to the same extent and in the same manner set forth in
Section 6(a), the Company, each of its directors, each of its officers who signs
the Registration Statement, each person, if any, who controls the Company within
the  meaning  of the 1933 Act or the 1934  Act,  any  underwriter  and any other
stockholder selling securities pursuant to the Registration  Statement or any of
its  directors  or  officers  or any person who  controls  such  stockholder  or
underwriter within the meaning of the 1933 Act or the 1934 Act (collectively and
together with an Indemnified Person, an "INDEMNIFIED PARTY"),  against any Claim
to which any of them may  become  subject,  under the 1933 Act,  the 1934 Act or
otherwise, insofar as such Claim arises out of or is based upon any Violation by
such  Investor,  in each case to the extent (and only to the  extent)  that such
Violation  occurs in reliance  upon and in conformity  with written  information
furnished to the Company by such Investor  expressly for use in connection  with
such  Registration  Statement;  and subject to Section 6(c) such  Investor  will
reimburse  any legal or other  expenses  (promptly as such expenses are incurred
and  are due and  payable)  reasonably  incurred  by  them  in  connection  with
investigating or defending any such Claim; provided, however, that the indemnity
agreement  contained  in this  Section  6(b) shall not apply to amounts  paid in
settlement of any Claim if such settlement is effected without the prior written
consent of such  Investor,  which  consent shall not be  unreasonably  withheld;
provided,  further,  however,  that the  Investor  shall be  liable  under  this
Agreement  (including  this  Section 6(b) and Section 7) for only that amount as
does not exceed the net  proceeds  to such  Investor  as a result of the sale of
Registrable Securities pursuant to such Registration  Statement.  Such indemnity
shall remain in full force and effect regardless of any investigation made by or
on  behalf of such  Indemnified  Party and shall  survive  the  transfer  of the
Registrable  Securities by the Investors pursuant to Section 9.  Notwithstanding
anything  to  the  contrary  contained  herein,  the  indemnification  agreement
contained in this Section 6(b) with respect to any preliminary  prospectus shall
not inure to the benefit of any  Indemnified  Party if the untrue  statement  or
omission of material fact contained in the preliminary  prospectus was corrected
on a timely basis in the prospectus, as then amended or supplemented.

     c. Promptly  after receipt by an Indemnified  Person or  Indemnified  Party
under this Section 6 of notice of the commencement of any action  (including any
governmental  action),  such Indemnified Person or Indemnified Party shall, if a
Claim in respect thereof is to be made against any indemnifying party under this
Section  6,  deliver  to  the  indemnifying   party  a  written  notice  of  the
commencement  thereof,  and the  indemnifying  party  shall  have  the  right to
participate in, and, to the extent the  indemnifying  party so desires,  jointly
with any other indemnifying  party similarly  noticed,  to assume control of the
defense thereof with counsel mutually satisfactory to the indemnifying party and
the Indemnified  Person or the Indemnified  Party, as the case may be; provided,
however, that an Indemnified Person or Indemnified Party shall have the right to
retain its own counsel with the fees and expenses to be paid by the indemnifying
party,  if, in the reasonable  opinion of counsel  retained by the  indemnifying
party,  the  representation  by  such  counsel  of  the  Indemnified  Person  or
Indemnified  Party and the  indemnifying  party  would be  inappropriate  due to
actual or potential differing interests between

<PAGE>

such Indemnified  Person or Indemnified Party and any other party represented by
such counsel in such proceeding.  The indemnifying  party shall pay for only one
separate legal counsel for the Indemnified  Persons or the Indemnified  Parties,
as applicable,  and such legal counsel shall be selected by Investors  holding a
majority-in-interest  of the Registrable Securities included in the Registration
Statement   to   which   the   Claim   relates   (with   the   approval   of   a
majority-in-interest of the Initial Investors), if the Investors are entitled to
indemnification  hereunder,  or the  Company,  if the  Company  is  entitled  to
indemnification  hereunder, as applicable. The failure to deliver written notice
to the  indemnifying  party within a reasonable time of the  commencement of any
such action shall not relieve such  indemnifying  party of any  liability to the
Indemnified  Person or  Indemnified  Party  under this  Section 6, except to the
extent  that the  indemnifying  party is actually  prejudiced  in its ability to
defend such action. The indemnification required by this Section 6 shall be made
by  periodic   payments  of  the  amount   thereof  during  the  course  of  the
investigation or defense, as such expense, loss, damage or liability is incurred
and is due and payable.

     7. CONTRIBUTION.

     To the extent any indemnification by an indemnifying party is prohibited or
limited by law, the indemnifying  party agrees to make the maximum  contribution
with respect to any amounts for which it would otherwise be liable under Section
6 to the  fullest  extent  permitted  by law;  provided,  however,  that  (i) no
contribution  shall be made under  circumstances  where the maker would not have
been liable for  indemnification  under the fault standards set forth in Section
6,  (ii)  no   seller   of   Registrable   Securities   guilty   of   fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be
entitled to contribution  from any seller of Registrable  Securities who was not
guilty of such fraudulent  misrepresentation,  and (iii) contribution  (together
with any  indemnification  or other  obligations  under this  Agreement)  by any
seller of Registrable Securities shall be limited in amount to the net amount of
proceeds received by such seller from the sale of such Registrable Securities.

     8. REPORTS UNDER THE 1934 ACT.

     With a view to making  available to the  Investors the benefits of Rule 144
promulgated  under the 1933 Act or any other  similar rule or  regulation of the
SEC that may at any time permit the investors to sell  securities of the Company
to the public without registration ("Rule 144"), the Company agrees to:

     a.  make  and  keep  public  information  available,  as  those  terms  are
understood and defined in Rule 144;

     b. file with the SEC in a timely  manner all  reports  and other  documents
required  of the  Company  under  the  1933  Act and the 1934 Act so long as the
Company remains subject to such  requirements  (it being understood that nothing
herein  shall  limit  the  Company's  obligations  under  Section  4(c)  of  the
Securities  Purchase  Agreement)  and the  filing  of  such  reports  and  other
documents is required for the applicable provisions of Rule 144; and

<PAGE>

     c.  furnish to each  Investor  so long as such  Investor  owns  Registrable
Securities,  promptly upon request,  (i) a written statement by the Company that
it has complied  with the reporting  requirements  of Rule 144, the 1933 Act and
the 1934 Act, (ii) a copy of the most recent  annual or quarterly  report of the
Company and such other reports and documents so filed by the Company,  and (iii)
such other information as may be reasonably requested to permit the Investors to
sell such securities pursuant to Rule 144 without registration.

     9. ASSIGNMENT OF REGISTRATION RIGHTS.

     The rights under this Agreement  shall be  automatically  assignable by the
Investors to any transferee of all or any portion of Registrable  Securities if:
(i) the  Investor  agrees in writing with the  transferee  or assignee to assign
such rights,  and a copy of such  agreement is furnished to the Company within a
reasonable time after such assignment,  (ii) the Company is, within a reasonable
time after such transfer or assignment, furnished with written notice of (a) the
name and address of such  transferee or assignee,  and (b) the  securities  with
respect to which such  registration  rights are being  transferred  or assigned,
(iii)  following  such transfer or assignment,  the further  disposition of such
securities by the  transferee  or assignee is restricted  under the 1933 Act and
applicable  state  securities  laws,  (iv) at or  before  the time  the  Company
receives the written notice  contemplated  by clause (ii) of this sentence,  the
transferee or assignee  agrees in writing with the Company to be bound by all of
the  provisions  contained  herein,  (v) such  transfer  shall have been made in
accordance  with  the  applicable   requirements  of  the  Securities   Purchase
Agreement,  and (vi) such transferee  shall be an "ACCREDITED  INVESTOR" as that
term defined in Rule 501 of Regulation D promulgated under the 1933 Act.

     10. AMENDMENT OF REGISTRATION RIGHTS.

     Provisions of this Agreement may be amended and the observance  thereof may
be waived (either generally or in a particular instance and either retroactively
or prospectively), only with written consent of the Company, each of the Initial
Investors  (to  the  extent  such  Initial   Investor  still  owns   Registrable
Securities)  and  Investors  who hold a  majority  interest  of the  Registrable
Securities.  Any amendment or waiver effected in accordance with this Section 10
shall be binding upon each Investor and the Company.

     11. MISCELLANEOUS.

     a. A person or entity  is deemed to be a holder of  Registrable  Securities
whenever such person or entity owns of record such  Registrable  Securities.  If
the Company receives conflicting instructions,  notices or elections from two or
more persons or entities with respect to the same  Registrable  Securities,  the
Company shall act upon the basis of  instructions,  notice or election  received
from the registered owner of such Registrable Securities.

<PAGE>

     b. Any notices  required or  permitted  to be given under the terms  hereof
shall be sent by certified or  registered  mail (return  receipt  requested)  or
delivered  personally or by courier  (including a recognized  overnight delivery
service) or by facsimile and shall be effective  five days after being placed in
the mail, if mailed by regular United States mail, or upon receipt, if delivered
personally or by courier (including a recognized  overnight delivery service) or
by  facsimile,  in each  case  addressed  to a  party.  The  addresses  for such
communications shall be:

                 If to the Company:

                 eGlobe, Inc.
                 1250 24th Street, NW
                 Suite 725
                 Washington, DC 20037
                 Attention: Chairman of the Board and Chief Executive Officer
                 Facsimile: (202) 822-8984

                 With copy to:

                 Hogan & Hartson L.L.P
                 Columbia Square
                 555 13th Street, NW
                 Washington, DC 20004-1109
                 Attention: Steven M. Kaufman, Esq.
                 Facsimile: (202) 637-5910

If to an Investor:  to the address set forth  immediately  below such Investor's
name on the signature pages to the Securities Purchase Agreement.

                 With copy to:

                 Ballard Spahr Andrews & Ingersoll, LLP
                 1735 Market Street
                 Philadelphia, PA 19103
                 Attention:  Gerald J. Guarcini, Esq.
                 Facsimile: 215-864-8999

     c.  Failure  of any  party to  exercise  any  right or  remedy  under  this
Agreement or otherwise,  or delay by a party in exercising such right or remedy,
shall not operate as a waiver thereof.

     d. This Agreement shall be governed by and construed in accordance with the
laws of the State of Delaware  applicable to agreements made and to be performed
in the State of Delaware (without regard to principles of conflict of laws). The
parties  irrevocably  consent to the  jurisdiction  of the United States federal
courts and the state  courts  located in  Delaware  with  respect to any suit or
proceeding based on or arising under this Agreement, the agreements entered into
in connection  herewith or the transactions  contemplated  hereby or thereby and

<PAGE>

irrevocably  agree that all claims in respect of such suit or proceeding  may be
determined  in such  courts.  The  parties  irrevocably  waive the defense of an
inconvenient  forum to the  maintenance of such suit or proceeding.  The parties
further  agree that  service of process  upon a party mailed by first class mail
shall be deemed in every respect  effective service of process upon the party in
any such suit or  proceeding.  Nothing  herein shall affect any party's right to
serve  process in any other manner  permitted  by law. The parties  agree that a
final non-appealable judgment in any such suit or proceeding shall be conclusive
and may be enforced in other  jurisdictions  by suit on such  judgment or in any
other lawful manner.

     e. This  Agreement,  the  Securities  Purchase  Agreement  and the Warrants
(including all schedules and exhibits  thereto)  constitute the entire agreement
among the parties  hereto with respect to the subject matter hereof and thereof.
There are no  restrictions,  promises,  warranties or  undertakings,  other than
those  set  forth or  referred  to  herein  and  therein.  This  Agreement,  the
Securities  Purchase  Agreement and the Warrants  supersede all prior agreements
and  understandings  among the parties hereto with respect to the subject matter
hereof and thereof.

     f. Subject to the  requirements  of Section 9 hereof,  this Agreement shall
inure to the benefit of and be binding upon the  successors  and assigns of each
of the parties hereto.

     g. The headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof.

     h. This  Agreement  may be  executed in two or more  counterparts,  each of
which shall be deemed an original but all of which shall  constitute one and the
same agreement.  This Agreement,  once executed by a party,  may be delivered to
the other parties hereto by facsimile  transmission  of a copy of this Agreement
bearing the signature of the party so delivering this Agreement.

     i. Each party shall do and perform, or cause to be done and performed,  all
such  further  acts and  things,  and shall  execute  and deliver all such other
agreements,  certificates,  instruments  and  documents,  as the other party may
reasonably  request in order to carry out the intent and accomplish the purposes
of this Agreement and the consummation of the transactions contemplated hereby.

     j.  Except  as   otherwise   provided   herein,   all  consents  and  other
determinations  to be made by the Investors  pursuant to this Agreement shall be
made by Investors holding a majority of the Registrable  Securities,  determined
as if the all of the shares of  Preferred  Stock and Warrants  then  outstanding
have been converted into or exercised for  Registrable  Securities,  as the case
may be.

     k.  The  Company  acknowledges  that  a  breach  by it of  its  obligations
hereunder will cause  irreparable  harm to each Investor by vitiating the intent
and purpose of the transactions  contemplated hereby.  Accordingly,  the Company
acknowledges that the remedy at law for breach of its obligations hereunder will
be inadequate and agrees,  in the event of a breach or threatened  breach by the
Company of any of the provisions hereunder, that each Investor shall

<PAGE>

be entitled, in addition to all other available remedies in law or in equity, to
an injunction or  injunctions  to prevent or cure breaches of the  provisions of
this  Agreement and to enforce  specifically  the terms and  provisions  hereof,
without the  necessity  of showing  economic  loss and without any bond or other
security being required.

     l. The language  used in this  Agreement  will be deemed to be the language
chosen by the parties to express  their  mutual  intent,  and no rules of strict
construction will be applied against any party.

     m. In the  event  that  any  provision  of this  Agreement  is  invalid  or
unenforceable  under any applicable  statute or rule of law, then such provision
shall be deemed  inoperative  to the extent that it may conflict  therewith  and
shall be deemed  modified  to  conform  with such  statute  or rule of law.  Any
provision  hereof which may prove invalid or  unenforceable  under any law shall
not affect the validity or enforceability of any other provision hereof.

     n.  The  initial   number  of  Registrable   Securities   included  in  any
Registration Statement and each increase to the number of Registrable Securities
included  therein shall be allocated  pro rata among the Investors  based on the
number  of  Registrable  Securities  held by each  Investor  at the time of such
establishment  or increase,  as the case may be. In the event an Investor  shall
sell or otherwise  transfer any of such holder's  Registrable  Securities,  each
transferee  shall be allocated a pro rata  portion of the number of  Registrable
Securities  included  in a  Registration  Statement  for  such  transferor.  Any
Registrable  Securities  included on a  Registration  Statement and which remain
allocated to any person or entity which does not hold any Registrable Securities
shall be allocated to the remaining  Investors,  pro rata based on the number of
shares of Registrable Securities then held by such Investors.  For the avoidance
of doubt,  the number of  Registrable  Securities  held by an Investor  shall be
determined as if all Preferred  Shares and Warrants then outstanding and held by
an Investor were converted into or exercised for Registrable Securities.

                [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

     IN WITNESS WHEREOF,  the Company and the undersigned Initial Investors have
caused this Agreement to be duly executed as of the date first above written.

EGLOBE, INC.

By:  /s/ Christopher J. Vizas
     -----------------------------
     Christopher J. Vizas
     Chairman of the Board and Chief Executive Officer

RGC INTERNATIONAL INVESTORS, LDC
By:  Rose Glen Capital Management, L.P.,
     Investment Manager
     By:   RGC General Partner Corp.,
           as General Partner

By:  /s/ Wayne D. Bloch
     -----------------------------
     Wayne D. Bloch
     Managing DirectorExhibit 10.50
                          REGISTRATION RIGHTS AGREEMENT

     REGISTRATION  RIGHTS  AGREEMENT (this  "Agreement"),  dated as of March 15,
2000, by and among EGLOBE, INC., a Delaware  corporation,  with its headquarters
located  at  1250  24th  Street,  NW,  Suite  725,  Washington,  DC  20037  (the
"Company"),  and  each  of  the  undersigned  (together  with  their  respective
affiliates  and any assignee or  transferee  of all of their  respective  rights
hereunder, the "Initial Investors").

     WHEREAS:

     A. In connection  with the Securities  Purchase  Agreement by and among the
parties hereto of even date herewith (the " Securities Purchase Agreement"), the
Company  has  agreed,  upon the terms and  subject to the  conditions  contained
therein, to issue and sell to the Initial Investors:  (i) shares of its Series Q
Convertible  Preferred Stock (the "Preferred  Stock") that are convertible  into
shares of the  Company's  common  stock,  par value $.001 per share (the "Common
Stock"),  upon the terms and subject to the limitations and conditions set forth
in  the  Certificate  of  Designations,  Rights,  Preferences,   Privileges  and
Restrictions   with  respect  to  the  Preferred  Stock  (the   "Certificate  of
Designation");  and (ii)  stock  purchase  warrants  (the  "Warrants")  that are
exercisable into shares of Common Stock upon the terms and conditions subject to
the terms and conditions set forth in the Warrants; and

     B. To induce the Initial  Investors  to execute and deliver the  Securities
Purchase  Agreement,  the  Company  has agreed to provide  certain  registration
rights  under  the  Securities  Act of  1933,  as  amended,  and the  rules  and
regulations  thereunder,  or any similar  successor statute  (collectively,  the
"1933 Act"), and applicable state securities laws.

     NOW,  THEREFORE,  in consideration of the premises and the mutual covenants
contained  herein and other good and  valuable  consideration,  the  receipt and
sufficiency  of which  are  hereby  acknowledged,  the  Company  and each of the
Initial Investors hereby agree as follows:

     1. DEFINITIONS.

     a. As used in this Agreement,  the following terms shall have the following
meanings:

     (i) "Investors"  means the Initial Investors and any transferee or assignee
who agrees to become bound by the  provisions  of this  Agreement in  accordance
with Section 9 hereof.

<PAGE>

     (ii) "register,"  "registered," and "registration"  refer to a registration
effected by  preparing  and filing a  Registration  Statement or  Statements  in
compliance  with the 1933 Act and pursuant to Rule 415 under the 1933 Act or any
successor  rule providing for offering  securities on a continuous  basis ("Rule
415"),  and the declaration or ordering of  effectiveness  of such  Registration
Statement by the United States Securities and Exchange Commission (the "SEC").

     (iii)  "Registrable  Securities" means: (A) the Conversion Shares issued or
issuable  upon  conversion  of or  otherwise  pursuant to the  Preferred  Shares
(including  Preferred Shares issuable at the Second Closing under the Securities
Purchase  Agreement)  (including,  without  limitation,  any  shares  issued  or
issuable  pursuant  to  Articles  V,  VI.D(b)  and  VI.E of the  Certificate  of
Designation and Section 2(c) herein);  (B) the Warrant Shares issued or issuable
upon exercise of or otherwise  pursuant to the Warrants  (including the Warrants
issuable at the Second Closing under the Securities Purchase Agreement); and (C)
any shares of capital  stock  issued or issuable as a dividend on or in exchange
for or otherwise with respect to any of the foregoing.

     (iv) "Registration  Statement(s)" means a registration  statement(s) of the
Company under the 1933 Act.

     b.  Capitalized  terms used herein and not otherwise  defined  herein shall
have the respective meanings set forth in the Securities Purchase Agreement.

     2. REGISTRATION.

     a.  MANDATORY  REGISTRATION.  The Company shall prepare and, on or prior to
April 1, 2000 (the "Filing Date"), file with the SEC a Registration Statement on
Form S-1 covering the resale of the Registrable  Securities,  which Registration
Statement,  to the  extent  allowable  under  the  1933  Act and the  rules  and
regulations  promulgated  thereunder (including Rule 416), shall state that such
Registration  Statement  also covers  such  indeterminate  number of  additional
shares of Common Stock as may become  issuable  upon  conversion of or otherwise
pursuant  to the  Preferred  Shares to  prevent  dilution  resulting  from stock
splits, stock dividends or similar transactions.  The number of shares of Common
Stock  initially  included in such  Registration  Statement  shall be  4,000,000
shares. The Company acknowledges that the number of shares initially included in
the  Registration  Statement  represents  a good faith  estimate  of the maximum
number of shares  issuable  upon  conversion  of or  otherwise  pursuant  to the
Preferred Shares and upon exercise of or otherwise pursuant to the Warrants. The
Registration  Statement  (and each  amendment or  supplement  thereto,  and each
request for  acceleration  of  effectiveness  thereof) shall be provided to (and
subject to the approval of the Initial  Investors and their counsel prior to its
filing or other submission.

     b. [Intentionally Omitted]

     c.  PAYMENTS  BY THE  COMPANY.  The Company  shall use its best  efforts to
obtain effectiveness of the Registration  Statement as soon as practicable,  but
in any event not later than May 25, 2000 (the "Registration  Deadline").  If (i)
the Registration  Statement covering the Registrable  Securities  required to be
filed by the Company pursuant to Section 2(a) hereof is not declared

                                       2
<PAGE>

effective  by  the  SEC  by  the  Registration   Deadline,  or  (ii)  after  the
Registration  Statement has been declared  effective by the SEC, sales of all of
the  Registrable   Securities  cannot  be  made  pursuant  to  the  Registration
Statement,  or (iii) the Common Stock is not listed or included for quotation on
the Nasdaq  National  Market  ("Nasdaq"),  the Nasdaq  SmallCap  Market ("Nasdaq
SmallCap"),  the New York Stock  Exchange  (the  "NYSE") or the  American  Stock
Exchange (the "AMEX") after being so listed or included for quotation,  then the
Company will make payments to the Investors in such amounts and at such times as
shall be  determined  pursuant to this  Section  2(c) as partial  relief for the
damages to the  Investors  by reason of any such delay in or  reduction of their
ability to sell the Registrable  Securities (which remedy shall not be exclusive
of any other remedies  available at law or in equity).  The Company shall pay to
each holder of the Preferred Shares or Registrable Securities an amount equal to
the stated  value of Preferred  Shares held by such holder (and,  in the case of
holders of  Registrable  Securities,  the stated value of Preferred  Shares from
which such  Registrable  Securities  were converted)  ("Aggregate  Share Price")
multiplied by the Applicable Percentage (as defined below) times the sum of: (i)
the  number  of  months  (prorated  for  partial  months)  after  the end of the
Registration  Deadline  and  prior  to the date the  Registration  Statement  is
declared effective by the SEC; provided,  however,  that there shall be excluded
from such period any delays which are solely attributable to changes required by
the Investors in the Registration Statement with respect to information relating
to  the  Investors,  including,  without  limitation,  changes  to the  plan  of
distribution,  or to the failure of the Investors to conduct their review of the
Registration  Statement  pursuant to Section 3(h) below in a  reasonably  prompt
manner;  (ii) the number of months  (prorated  for  partial  months)  during the
Registration  Period (as  defined  below)  that sales of all of the  Registrable
Securities  cannot be made  pursuant  to the  Registration  Statement  after the
Registration   Statement  has  been  declared  effective   (including,   without
limitation,  when  sales  cannot be made by reason of the  Company's  failure to
properly  supplement or amend the prospectus included therein in accordance with
the terms of this Agreement  (including  Section 3(b) hereof or otherwise),  but
excluding  any days during an Allowed  Delay (as defined in Section  3(f));  and
(iii) the number of months  (prorated for partial  months) that the Common Stock
is not listed or included for quotation on the Nasdaq, Nasdaq SmallCap,  NYSE or
AMEX or that trading thereon is halted after the Registration Statement has been
declared  effective.  The term  "Applicable  Percentage"  means  .75  hundredths
(.0075)  with  respect to the first  thirty (30) days of any  calculation  under
clause (i) of the preceding  sentence,  and 1.5 hundredths  (.015) for any other
purpose.  (For example, if the Registration  Statement becomes effective one (1)
month after the  Registration  Deadline,  the Company  would pay $7,500 for each
$1,000,000  of Aggregate  Share Price.  If  thereafter,  sales could not be made
pursuant  to the  Registration  Statement  for an  additional  period of one (1)
month,  the  Company  would pay an  additional  $15,000 for each  $1,000,000  of
Aggregate  Share  Price.)  Such  amounts  shall  be  paid in  cash  or,  at each
Investor's  option,  may be added to the  Conversion  Amount (as  defined in the
Certificate of Designation) of the Preferred  Shares pursuant to Article VI.A(a)
of the  Certificate  of Designation  and  thereafter be convertible  into Common
Stock at the  "Conversion  Price" (as defined in the Certificate of Designation)
in accordance with the terms of the Preferred Shares. Any shares of Common Stock
issued upon conversion of such amounts shall be Registrable  Securities.  If the
Investor   desires  to  convert  the  amounts  due  hereunder  into  Registrable
Securities,  it shall so notify the Company in writing  within two (2)  business
days of the  date on which  such  amounts  are  first  payable  in cash and such
amounts  shall be so  convertible  (pursuant to the  mechanics  set forth in the
Certificate  of  Designation),  beginning  on the last day upon  which  the cash

                                       3
<PAGE>

amount  would  otherwise  be due in  accordance  with  the  following  sentence.
Payments of cash  pursuant  hereto  shall be made within five (5) days after the
end of each period that gives rise to such  obligation,  provided  that,  if any
such period  extends for more than thirty (30) days,  interim  payments shall be
made for each such thirty (30) day period.

     d. PIGGY-BACK  REGISTRATIONS.  Subject to the last sentence of this Section
2(d),  if at any time prior to the  expiration  of the  Registration  Period (as
hereinafter  defined)  the  Company  shall  determine  to  file  with  the SEC a
Registration  Statement  relating  to an  offering  for its own  account  or the
account of others under the 1933 Act of any of its equity securities (other than
on Form S-4 or Form S-8 or their then equivalents  relating to equity securities
to be issued solely in connection with any acquisition of any entity or business
or equity securities  issuable in connection with stock option or other employee
benefit  plans),  the  Company  shall send to each  Investor  who is entitled to
registration rights under this Section 2(d) written notice of such determination
and, if within fifteen (15) days after the effective  date of such notice,  such
Investor  shall so  request  in  writing,  the  Company  shall  include  in such
Registration  Statement  all or any  part  of the  Registrable  Securities  such
Investor  requests  to be  registered,  except that if, in  connection  with any
underwritten  public  offering  for the  account  of the  Company  the  managing
underwriter(s)  thereof  shall  impose a  limitation  on the number of shares of
Common Stock which may be included in the  Registration  Statement  because,  in
such  underwriter(s)'   judgment,   marketing  or  other  factors  dictate  such
limitation  is necessary to  facilitate  public  distribution,  then the Company
shall be obligated to include in such  Registration  Statement only such limited
portion of the  Registrable  Securities  with respect to which such Investor has
requested  inclusion hereunder as the underwriter shall permit. Any exclusion of
Registrable  Securities  shall be made pro rata among the  Investors  seeking to
include  Registrable  Securities  in  proportion  to the  number of  Registrable
Securities sought to be included by such Investors;  provided, however, that the
Company  shall not exclude  any  Registrable  Securities  unless the Company has
first excluded all outstanding securities, the holders of which are not entitled
by contract to inclusion of such  securities in such  Registration  Statement or
are not entitled to pro rata  inclusion  with the  Registrable  Securities;  and
provided,  further,  however,  that,  after  giving  effect  to the  immediately
preceding  proviso,  any exclusion of Registrable  Securities  shall be made pro
rata with holders of other  securities  having the contractual  right to include
such securities in the  Registration  Statement other than holders of securities
entitled to  inclusion of their  securities  in such  Registration  Statement by
reason of demand  registration  rights.  No right to registration of Registrable
Securities  under this Section 2(d) shall be construed to limit any registration
required under Section 2(a) hereof.  If an offering in connection  with which an
Investor is entitled to registration  under this Section 2(d) is an underwritten
offering,  then each Investor whose Registrable  Securities are included in such
Registration  Statement shall, unless otherwise agreed by the Company, offer and
sell such  Registrable  Securities in an  underwritten  offering  using the same
underwriter or underwriters and, subject to the provisions of this Agreement, on
the same terms and  conditions as other shares of Common Stock  included in such
underwritten  offering.  Notwithstanding  anything  to the  contrary  set  forth
herein,  the registration  rights of the Investors pursuant to this Section 2(d)
shall only be  available in the event the Company  fails to timely file,  obtain
effectiveness  or maintain  effectiveness  of any  Registration  Statement to be
filed pursuant to Section 2(a) in accordance with the terms of this Agreement.

                                       4
<PAGE>

     e. ELIGIBILITY FOR FORM S-1; CONVERSION TO FORM S-3. The Company represents
and  warrants  that it  meets  the  requirements  for  the  use of Form  S-1 for
registration of the sale by the Initial Investors and any other Investors of the
Registrable  Securities.  The Company agrees to timely file all reports required
to be filed by the Company with the SEC pursuant to Section 13 of the Securities
Exchange Act of 1934, as amended (the "1934 Act") so as to become eligible,  and
thereafter to maintain its eligibility,  for the use of Form S-3. Not later than
ten (10) days after the Company  first meets the  registration  eligibility  and
transaction  requirements  for the use of Form S-3 (or any  successor  form) for
registration  of the  offer  and sale by the  Initial  Investors  and any  other
Investors  of  Registrable  Securities,  the Company  shall file a  Registration
Statement on Form S-3 (or such successor  form) with respect to the  Registrable
Securities  covered by the Registration  Statement on Form S-1 filed pursuant to
Section  2(a)  (and  include  in such  Registration  Statement  on Form  S-3 the
information required by Rule 429 under the 1933 Act) or convert the Registration
Statement  on Form S-1 filed  pursuant to Section 2(a) to a Form S-3 pursuant to
Rule 429 under the 1933 Act and use its best  efforts to have such  Registration
Statement  (or  such  amendment)  declared  effective  as  soon  as  practicable
thereafter;  provided,  however,  that the  Company  shall  include  a  separate
prospectus for the Registrable  Securities in any such Registration Statement on
Form S-3,  and shall not, and shall not agree to, allow the holders of any other
securities of the Company to include any of their securities in such prospectus,
or any  amendment or supplement  thereto under Section 3(b) hereof,  without the
consent of a majority-in-interest of the Registrable Securities.

     3. OBLIGATIONS OF THE COMPANY.

     In connection  with the  registration of the  Registrable  Securities,  the
Company shall have the following obligations:

     a. The Company  shall  prepare  promptly,  and file with the SEC as soon as
practicable after the Closing Date with respect to the First Closing (as defined
in the  Securities  Purchase  Agreement)  (but in no event later than the Filing
Date),  a  Registration  Statement  with  respect to the  number of  Registrable
Securities  provided in Section  2(a),  and  thereafter  use its best efforts to
cause such Registration  Statement relating to Registrable  Securities to become
effective as soon as possible  after such filing (but in no event later than the
Registration Deadline),  and keep the Registration Statement (and, following the
effectiveness of the  Registration  Statement on Form S-3 referred to in Section
2(e), such later Registration  Statement)  effective pursuant to Rule 415 at all
times  until  such  date as is the  earlier  of (i) the date on which all of the
Registrable Securities have been sold and (ii) the date on which the Registrable
Securities  (in  the  opinion  of  counsel  to  the  Initial  Investors)  may be
immediately  sold to the public without  registration or restriction  (including
without  limitation as to volume by each holder thereof) under the 1933 Act (the
"Registration  Period"),  which Registration Statement (including the prospectus
contained  therein,  as amended or supplemented by any amendments or supplements
thereto)  shall not contain any untrue  statement of a material  fact or omit to
state a material  fact required to be stated  therein,  or necessary to make the
statements therein not misleading.

     b.  The  Company  shall  prepare  and file  with  the SEC  such  amendments
(including  post-effective  amendments)  and  supplements  to  the  Registration
Statements and the

                                       5
<PAGE>

prospectus  used  in  connection  with  the  Registration  Statements  as may be
necessary to keep the Registration  Statements effective at all times during the
Registration Period, and, during such period,  comply with the provisions of the
1933 Act with respect to the  disposition of all  Registrable  Securities of the
Company covered by the  Registration  Statements  until such time as all of such
Registrable  Securities  have been disposed of in  accordance  with the intended
methods of  disposition  by the  seller or  sellers  thereof as set forth in the
Registration Statements. In the event that on any Trading Day (as defined in the
Certificate of  Designation)  (the  "Registration  Trigger Date ") the number of
shares available under a Registration Statement filed pursuant to this Agreement
is insufficient to cover all of the  Registrable  Securities  issued or issuable
upon conversion of or otherwise  pursuant to the Preferred  Shares (based on the
lesser of the Variable  Conversion Price and the Fixed Conversion Price (each as
defined  in the  Certificate  of  Designation)  then in effect)  exercise  of or
otherwise  pursuant to the Warrants,  in each case without  giving effect to any
limitations  on the  Investors'  ability  to  convert  the  Preferred  Shares or
exercise the Warrants,  the Company shall amend the Registration  Statement,  or
file a new  Registration  Statement (on the short form available  therefore,  if
applicable),  or both, so as to cover two hundred  percent  (200%) of all of the
Registrable  Securities  so issued or  issuable  (without  giving  effect to any
limitations  on  conversion  or  exercise   contained  in  the   Certificate  of
Designation or the Warrants) as of the Registration  Trigger Date, in each case,
as soon as practicable,  but in any event within twenty (20) business days after
the necessity therefor arises (based on the market price of the Common Stock and
other  relevant  factors on which the Company  reasonably  elects to rely).  The
Company  shall  use  its  best  efforts  to  cause  such  amendment  and/or  new
Registration  Statement to become effective as soon as practicable following the
filing  thereof,  but in any event  within  sixty (60) days of the  Registration
Trigger Date.  The  provisions  of Section 2(c) above shall be  applicable  with
respect to the Company's obligations under this Section 3(b).

     c. The Company shall furnish to each Investor whose Registrable  Securities
are  included in a  Registration  Statement  and its legal  counsel (i) promptly
after the same is  prepared  and  publicly  distributed,  filed with the SEC, or
received  by the  Company,  one  copy of  each  Registration  Statement  and any
amendment thereto, each preliminary prospectus and prospectus and each amendment
or supplement thereto,  and, in the case of the Registration  Statement referred
to in Section  2(a),  each letter  written by or on behalf of the Company to the
SEC or the staff of the SEC, and each item of correspondence from the SEC or the
staff of the SEC, in each case relating to such  Registration  Statement  (other
than any portion of any thereof which contains information for which the Company
has  sought  confidential  treatment),  and (ii)  such  number  of  copies  of a
prospectus,   including  a  preliminary  prospectus,   and  all  amendments  and
supplements  thereto and such other  documents as such  Investor may  reasonably
request in order to facilitate  the  disposition of the  Registrable  Securities
owned by such  Investor.  The Company  will  promptly  notify  each  Investor by
facsimile  of  the   effectiveness  of  each   Registration   Statement  or  any
post-effective  amendment.  The  Company  will  promptly  respond to any and all
comments  received from the SEC, with a view towards  causing each  Registration
Statement or any amendment  thereto to be declared  effective by the SEC as soon
as  practicable  and shall file an  acceleration  request as soon as practicable
following  the  resolution  or clearance of all SEC comments or, if  applicable,
following  notification by the SEC that any such  Registration  Statement or any
amendment thereto will not be subject to review.

                                       6
<PAGE>

     d. The Company shall use reasonable efforts to (i) register and qualify the
Registrable  Securities covered by the Registration  Statements under such other
securities or "blue sky" laws of such  jurisdictions in the United States as the
Investors who hold a majority in interest of the  Registrable  Securities  being
offered reasonably  request,  (ii) prepare and file in those  jurisdictions such
amendments  (including  post-effective   amendments)  and  supplements  to  such
registrations   and   qualifications   as  may  be  necessary  to  maintain  the
effectiveness  thereof  during the  Registration  Period,  (iii) take such other
actions as may be necessary to maintain such registrations and qualifications in
effect at all times  during  the  Registration  Period,  and (iv) take all other
actions reasonably necessary or advisable to qualify the Registrable  Securities
for sale in such jurisdictions; provided, however, that the Company shall not be
required in connection  therewith or as a condition thereto to (a) qualify to do
business in any jurisdiction where it would not otherwise be required to qualify
but for this Section 3(d),  (b) subject  itself to general  taxation in any such
jurisdiction,  (c) file a general  consent  to  service  of  process in any such
jurisdiction,  (d) provide any undertakings that cause the Company undue expense
or burden, or (e) make any change in its charter or by-laws,  which in each case
the Board of  Directors  of the  Company  determines  to be contrary to the best
interests of the Company and its stockholders.

     e. [Intentionally Omitted]

     f. As promptly  as  practicable  after  becoming  aware of such event,  the
Company shall notify each  Investor of the happening of any event,  of which the
Company  has  knowledge,  as a result of which the  prospectus  included  in any
Registration  Statement,  as then in effect,  includes an untrue  statement of a
material fact or omission to state a material fact required to be stated therein
or  necessary  to make the  statements  therein not  misleading  (including  the
failure to timely  file a Form 8-K or  amendment  thereto in  connection  with a
business  acquisition  by the  Company),  and use its best  efforts  promptly to
prepare a supplement or amendment to any Registration  Statement to correct such
untrue  statement  or  omission,  and  deliver  such  number  of  copies of such
supplement  or  amendment  to each  Investor  as such  Investor  may  reasonably
request;  provided that, for not more than forty-five (45) consecutive  calendar
days (or a total of not more than ninety (90)  calendar  days in any twelve (12)
month  period),  the Company  may delay the  disclosure  of material  non-public
information  concerning  the  Company  (as well as  prospectus  or  Registration
Statement  updating)  the  disclosure  of which at the time is not,  in the good
faith opinion of the Company,  in the best interests of the Company (an "ALLOWED
DELAY");  provided,  further,  that the Company  shall  promptly  (i) notify the
Investors  in writing of the  existence  of (but in no event,  without the prior
written consent of an Investor,  shall the Company disclose to such Investor any
of the facts or  circumstances  regarding) any material  non-public  information
giving  rise to an Allowed  Delay and (ii)  advise the  Investors  in writing to
cease all sales under such  Registration  Statement until the end of the Allowed
Delay. Upon expiration of the Allowed Delay, the Company shall again be bound by
the first sentence of this Section 3(f) with respect to the  information  giving
rise thereto.

     g. The Company  shall use its best  efforts to prevent the  issuance of any
stop order or other suspension of  effectiveness of any Registration  Statement,
and, if such an order is issued,  to obtain the  withdrawal of such order at the
earliest possible moment and to notify each

                                       7
<PAGE>

Investor  who holds  Registrable  Securities  being sold (or, in the event of an
underwritten  offering, the managing underwriters) of the issuance of such order
and the resolution thereof.

     h. The  Company  shall  permit a single firm of counsel  designated  by the
Initial Investors to review such  Registration  Statement and all amendments and
supplements  thereto (as well as all requests for  acceleration or effectiveness
thereof) a reasonable period of time prior to their filing with the SEC, and not
file any  document in a form to which such counsel  reasonably  objects and will
not request acceleration of such Registration  Statement without prior notice to
such counsel.  The sections of such Registration  Statement covering information
with respect to the Investors, the Investor's beneficial ownership of securities
of the Company or the Investors  intended  method of  disposition of Registrable
Securities  shall conform to the information  provided to the Company by each of
the Investors.

     i. The Company shall make  generally  available to its security  holders as
soon as practicable,  but not later than ninety (90) days after the close of the
period  covered  thereby,  an earnings  statement  (in form  complying  with the
provisions  of Rule 158 under  the 1933  Act)  covering  a  twelve-month  period
beginning  not later than the first day of the  Company's  fiscal  quarter  next
following the effective date of the Registration Statement.

     j. At the request of any Investor participating in an underwritten offering
pursuant  to  Section  2(d),  the  Company  shall  furnish,  on  the  date  that
Registrable  Securities are delivered to an  underwriter  for sale in connection
with any Registration  Statement pursuant to Section 2(d), (i) an opinion, dated
as of such date,  from  counsel  representing  the Company for  purposes of such
Registration  Statement, in form, scope and substance as is customarily given in
an underwritten public offering, addressed to the underwriters,  if any, and the
Investors and (ii) a letter,  dated such date,  from the  Company's  independent
certified  public  accountants in form and substance as is customarily  given by
independent  certified  public  accountants to  underwriters  in an underwritten
public offering, addressed to the underwriters, if any, and the Investors.

     k. The Company shall make  available for inspection by (i) any Investor and
(ii) one firm of attorneys and one firm of accountants retained by the Investors
(collectively,  the "INSPECTORS") all pertinent financial and other records, and
pertinent corporate documents and properties of the Company  (collectively,  the
"RECORDS"),  as shall be reasonably deemed necessary by each Inspector to enable
each  Inspector  to exercise  its due  diligence  responsibility,  and cause the
Company's officers,  directors and employees to supply all information which any
Inspector may reasonably  request for purposes of such due diligence;  provided,
however,  that each  Inspector  shall hold in confidence  and shall not make any
disclosure  (except to an Investor) of any Record or other information which the
Company determines in good faith to be confidential,  and of which determination
the  Inspectors  are so notified,  unless (a) the  disclosure of such Records is
necessary  to avoid or correct a  misstatement  or omission in any  Registration
Statement,  (b) the release of such Records is ordered pursuant to a subpoena or
other order from a court or government  body of competent  jurisdiction,  or (c)
the information in such Records has been made generally  available to the public
other  than by  disclosure  in  violation  of this or any other  agreement.  The
Company shall

                                       8
<PAGE>

not be required to disclose any confidential  information in such Records to any
Inspector   until  and  unless   such   Inspector   shall  have   entered   into
confidentiality  agreements (in form and substance  satisfactory to the Company)
with the Company with respect thereto, substantially in the form of this Section
3(k). Each Investor agrees that it shall,  upon learning that disclosure of such
Records  is  sought  in  or  by  a  court  or  governmental  body  of  competent
jurisdiction or through other means, give prompt notice to the Company and allow
the  Company,  at its  expense,  to  undertake  appropriate  action  to  prevent
disclosure  of,  or to  obtain  a  protective  order  for,  the  Records  deemed
confidential.  Nothing herein (or in any other confidentiality agreement between
the Company and any Investor) shall be deemed to limit the Investor's ability to
sell  Registrable  Securities  in a manner  which is otherwise  consistent  with
applicable laws and regulations.

     l. The Company  shall hold in  confidence  and not make any  disclosure  of
information concerning an Investor provided to the Company unless (i) disclosure
of such  information  is necessary  to comply with  federal or state  securities
laws, (ii) the disclosure of such information is necessary to avoid or correct a
misstatement  or omission in any  Registration  Statement,  (iii) the release of
such  information is ordered  pursuant to a subpoena or other order from a court
or governmental  body of competent  jurisdiction,  or (iv) such  information has
been  made  generally  available  to the  public  other  than by  disclosure  in
violation of this or any other agreement. The Company agrees that it shall, upon
learning that disclosure of such information concerning an Investor is sought in
or by a court or  governmental  body of competent  jurisdiction or through other
means, give prompt notice to such Investor prior to making such disclosure,  and
allow the Investor,  at its expense, to undertake  appropriate action to prevent
disclosure of, or to obtain a protective order for, such information.

     m. The Company shall (i) cause all the  Registrable  Securities  covered by
the Registration  Statement to be listed on each national securities exchange on
which  securities  of the same class or series  issued by the  Company  are then
listed, if any, if the listing of such Registrable  Securities is then permitted
under the rules of such  exchange,  or (ii) to the extent the  securities of the
same class or series  are not then  listed on a  national  securities  exchange,
secure the designation and quotation of all the Registrable  Securities  covered
by the  Registration  Statement  on Nasdaq or, if not eligible for Nasdaq on the
Nasdaq  SmallCap  and,  without  limiting the  generality of the  foregoing,  to
arrange for at least two market makers to register with the National Association
of Securities  Dealers,  Inc.  ("NASD") as such with respect to such Registrable
Securities.

     n. The Company shall provide a transfer agent and registrar, which may be a
single entity, for the Registrable  Securities not later than the effective date
of the Registration Statement.

     o. The Company shall  cooperate  with the  Investors  who hold  Registrable
Securities being offered and the managing  underwriter or underwriters,  if any,
to facilitate the timely  preparation and delivery of certificates  (not bearing
any  restrictive  legends)  representing  Registrable  Securities  to be offered
pursuant to a Registration  Statement and enable such certificates to be in such
denominations or amounts, as the case may be, as the managing

                                       9
<PAGE>

underwriter or underwriters, if any, or the Investors may reasonably request and
registered in such names as the managing underwriter or underwriters, if any, or
the  Investors  may  request,  and,  within  three  (3)  business  days  after a
Registration   Statement  which  includes  Registrable   Securities  is  ordered
effective by the SEC, the Company shall  deliver,  and shall cause legal counsel
selected by the Company to deliver,  to the transfer  agent for the  Registrable
Securities  (with  copies to the  Investors  whose  Registrable  Securities  are
included in such  Registration  Statement) an  instruction  in the form attached
hereto as EXHIBIT 1 and an opinion of such counsel  substantially  to the effect
set forth on the form attached  hereto as EXHIBIT 2 and reasonably  satisfactory
to such transfer agent.

     p.  At  the  request  of  the  holders  of a  majority-in-interest  of  the
Registrable  Securities,  the Company  shall  prepare and file with the SEC such
amendments   (including   post-effective   amendments)   and  supplements  to  a
Registration   Statement  and  any  prospectus   used  in  connection  with  the
Registration  Statement  as may be  necessary  in  order to  change  the plan of
distribution set forth in such Registration Statement.

     q. Except as set forth in SCHEDULE 3(q) and except for  additional  holders
of securities  of the Company  where the  inclusion of such holder's  securities
would not materially increase the number of shares being registered, the Company
shall not,  and shall not agree to, allow the holders of any  securities  of the
Company to include any of their securities in any  Registration  Statement under
Section 2(a) hereof or any  amendment or  supplement  thereto under Section 3(b)
hereof  without  the  consent of the  holders of a  majority-in-interest  of the
Registrable Securities.  In addition, the Company shall not offer any securities
for its own account or the account of others in any Registration Statement under
Section 2(a) hereof or any  amendment or  supplement  thereto under Section 3(b)
hereof  without  the consent of the  holders of a  majority-in-  interest of the
Registrable Securities.

     r.  Subject to the  provisions  hereof,  the  Company  shall take all other
reasonable  actions  necessary to expedite  and  facilitate  disposition  by the
Investors of Registrable Securities pursuant to a Registration Statement.

     s.  The  Company  shall  comply  with  all  applicable  laws  related  to a
Registration  Statement and offering and sale of securities  and all  applicable
rules and  regulations  of  governmental  authorities  in  connection  therewith
(including  without  limitation  the 1933 Act and the 1934 Act and the rules and
regulations promulgated by the SEC).

     4. OBLIGATIONS OF THE INVESTORS.

     In connection  with the  registration of the  Registrable  Securities,  the
Investors shall have the following obligations:

     a. It shall be a condition  precedent to the  obligations of the Company to
complete  the  registration  pursuant  to this  Agreement  with  respect  to the
Registrable Securities of a particular Investor that such Investor shall furnish
to the Company such information  regarding  itself,

                                       10
<PAGE>

the Registrable  Securities held by it and the intended method of disposition of
the Registrable  Securities held by it as shall be reasonably required to effect
the registration of such Registrable Securities and shall execute such documents
in connection with such registration as the Company may reasonably  request.  At
least three (3) business days prior to the first anticipated  filing date of the
Registration   Statement,   the  Company  shall  notify  each  Investor  of  the
information the Company requires from each such Investor.

     b.  Each  Investor,  by  such  Investor's  acceptance  of  the  Registrable
Securities,  agrees to cooperate with the Company as reasonably requested by the
Company  in  connection  with the  preparation  and  filing of the  Registration
Statements  hereunder,  unless such Investor has notified the Company in writing
of such  Investor's  election  to  exclude  all of such  Investor's  Registrable
Securities from the Registration Statements.

     c. In the event of an underwritten  offering pursuant to Section 2(d), each
Investor agrees to enter into and perform such Investor's  obligations  under an
underwriting  agreement,  in  usual  and  customary  form,  including,   without
limitation,  customary  indemnification and contribution  obligations,  with the
managing  underwriter  of such  offering  and take  such  other  actions  as are
reasonably  required in order to expedite or facilitate  the  disposition of the
Registrable Securities, unless such Investor has notified the Company in writing
of such  Investor's  election  to  exclude  all of such  Investor's  Registrable
Securities from such Registration Statement.

     d. Each Investor  agrees that,  upon receipt of any notice from the Company
of the  happening  of any event of the kind  described  in Section 3(f) or 3(g),
such Investor will immediately discontinue disposition of Registrable Securities
pursuant to the  Registration  Statement  covering such  Registrable  Securities
until  such  Investor's  receipt of the  copies of the  supplemented  or amended
prospectus  contemplated  by Section  3(f) or 3(g) and,  if so  directed  by the
Company,  such  Investor  shall  deliver to the  Company  (at the expense of the
Company) or destroy (and deliver to the Company a  certificate  of  destruction)
all  copies in such  Investor's  possession,  of the  prospectus  covering  such
Registrable Securities current at the time of receipt of such notice.

     e. No Investor may participate in any underwritten registration pursuant to
Section 2(d) hereunder  unless such Investor (i) agrees to sell such  Investor's
Registrable Securities on the basis provided in any underwriting arrangements in
usual and  customary  form  entered  into by the  Company,  (ii)  completes  and
executes  all  questionnaires,  powers of  attorney,  indemnities,  underwriting
agreements  and  other  documents  reasonably  required  under the terms of such
underwriting  arrangements,  and (iii)  agrees to pay its pro rata  share of all
underwriting  discounts  and  commissions  and any  expenses  in excess of those
payable by the Company pursuant to Section 5 below.

                                       11
<PAGE>

     5. EXPENSES OF REGISTRATION.

     All reasonable expenses, other than underwriting discounts and commissions,
incurred in connection with registrations, filings or qualifications pursuant to
Sections 2 and 3, including,  without limitation, all registration,  listing and
qualification  fees, printers and accounting fees, the fees and disbursements of
counsel  for the  Company,  and the  reasonable  fees and  disbursements  of one
counsel  selected by the Initial  Investors  pursuant to Sections  2(b) and 3(h)
hereof  shall be borne by the  Company,  provided  that such  expenses  shall be
counted  toward and  subject to the same  aggregate  cap as the  expenses  to be
reimbursed pursuant to Section 4(f) of the Securities Purchase Agreement.

     6. INDEMNIFICATION.

     In the event any  Registrable  Securities  are  included in a  Registration
Statement under this Agreement:

     a. To the  extent  permitted  by law,  the  Company  will  indemnify,  hold
harmless and defend (i) each Investor who holds such Registrable  Securities and
(ii) the directors,  officers,  partners,  employees, agents and each person who
controls  any  Investor  within the  meaning  of the 1933 Act or the  Securities
Exchange Act of 1934, as amended (the "1934 ACT"), if any (each, an "INDEMNIFIED
PERSON"),  against any joint or several losses, claims, damages,  liabilities or
expenses (collectively,  together with actions,  proceedings or inquiries by any
regulatory or self-regulatory organization,  whether commenced or threatened, in
respect  thereof,  "CLAIMS") to which any of them may become subject  insofar as
such Claims arise out of or are based upon: (i) any untrue  statement or alleged
untrue statement of a material fact in a Registration  Statement or the omission
or alleged  omission to state  therein a material  fact required to be stated or
necessary  to make the  statements  therein  not  misleading;  (ii)  any  untrue
statement  or alleged  untrue  statement  of a material  fact  contained  in any
preliminary  prospectus if used prior to the effective date of such Registration
Statement, or contained in the final prospectus (as amended or supplemented,  if
the Company files any amendment  thereof or supplement  thereto with the SEC) or
the omission or alleged omission to state therein any material fact necessary to
make the statements made therein,  in light of the circumstances under which the
statements therein were made, not misleading;  or (iii) any violation or alleged
violation  by the  Company  of the  1933  Act,  the 1934  Act,  any  other  law,
including,  without  limitation,  any  state  securities  law,  or any  rule  or
regulation  thereunder  relating  to  the  offer  or  sale  of  the  Registrable
Securities  (the  matters in the  foregoing  clauses  (i) through  (iii)  being,
collectively,  "VIOLATIONS").  Subject to the  restrictions set forth in Section
6(c) with respect to the number of legal  counsel,  the Company shall  reimburse
the Indemnified  Person,  promptly as such expenses are incurred and are due and
payable,  for any reasonable legal fees or other reasonable expenses incurred by
them  in   connection   with   investigating   or  defending   any  such  Claim.
Notwithstanding  anything to the contrary contained herein, the  indemnification
agreement contained in this Section 6(a): (i) shall not apply to a Claim arising
out of or based upon a Violation which occurs in reliance upon and in

                                       12
<PAGE>

conformity  with  information  furnished  in  writing  to  the  Company  by  any
Indemnified  Person expressly for use in connection with the preparation of such
Registration Statement or any such amendment thereof or supplement thereto; (ii)
shall not apply to amounts paid in settlement of any Claim if such settlement is
effected  without the prior written consent of the Company,  which consent shall
not be  unreasonably  withheld;  and  (iii)  with  respect  to  any  preliminary
prospectus,  shall not inure to the  benefit  of any  Indemnified  Person if the
untrue  statement  or omission of material  fact  contained  in the  preliminary
prospectus was corrected on a timely basis in the prospectus, as then amended or
supplemented, such corrected prospectus was timely made available by the Company
pursuant to Section 3(c) hereof, and the Indemnified Person was promptly advised
in writing not to use the incorrect prospectus prior to the use giving rise to a
Violation and such Indemnified  Person,  notwithstanding  such advice,  used it.
Such  indemnity  shall  remain  in  full  force  and  effect  regardless  of any
investigation  made by or on behalf of the Indemnified  Person and shall survive
the transfer of the Registrable  Securities by the Investors pursuant to Section
9.

     b. In connection  with any  Registration  Statement in which an Investor is
participating, each such Investor agrees severally and not jointly to indemnify,
hold harmless and defend, to the same extent and in the same manner set forth in
Section 6(a), the Company, each of its directors, each of its officers who signs
the Registration Statement, each person, if any, who controls the Company within
the  meaning  of the 1933 Act or the 1934  Act,  any  underwriter  and any other
stockholder selling securities pursuant to the Registration  Statement or any of
its  directors  or  officers  or any person who  controls  such  stockholder  or
underwriter within the meaning of the 1933 Act or the 1934 Act (collectively and
together with an Indemnified Person, an "INDEMNIFIED PARTY"),  against any Claim
to which any of them may  become  subject,  under the 1933 Act,  the 1934 Act or
otherwise, insofar as such Claim arises out of or is based upon any Violation by
such  Investor,  in each case to the extent (and only to the  extent)  that such
Violation  occurs in reliance  upon and in conformity  with written  information
furnished to the Company by such Investor  expressly for use in connection  with
such  Registration  Statement;  and subject to Section 6(c) such  Investor  will
reimburse  any legal or other  expenses  (promptly as such expenses are incurred
and  are due and  payable)  reasonably  incurred  by  them  in  connection  with
investigating or defending any such Claim; provided, however, that the indemnity
agreement  contained  in this  Section  6(b) shall not apply to amounts  paid in
settlement of any Claim if such settlement is effected without the prior written
consent of such  Investor,  which  consent shall not be  unreasonably  withheld;
provided,  further,  however,  that the  Investor  shall be  liable  under  this
Agreement  (including  this  Section 6(b) and Section 7) for only that amount as
does not exceed the net  proceeds  to such  Investor  as a result of the sale of
Registrable Securities pursuant to such Registration  Statement.  Such indemnity
shall remain in full force and effect regardless of any investigation made by or
on  behalf of such  Indemnified  Party and shall  survive  the  transfer  of the
Registrable  Securities by the Investors pursuant to Section 9.  Notwithstanding
anything  to  the  contrary  contained  herein,  the  indemnification  agreement
contained in this Section 6(b) with respect to any preliminary  prospectus shall
not inure to the benefit of any  Indemnified  Party if the untrue  statement  or
omission of material fact contained in the preliminary  prospectus was corrected
on a timely basis in the prospectus, as then amended or supplemented.

                                       13
<PAGE>

     c. Promptly  after receipt by an Indemnified  Person or  Indemnified  Party
under this Section 6 of notice of the commencement of any action  (including any
governmental  action),  such Indemnified Person or Indemnified Party shall, if a
Claim in respect thereof is to be made against any indemnifying party under this
Section  6,  deliver  to  the  indemnifying   party  a  written  notice  of  the
commencement  thereof,  and the  indemnifying  party  shall  have  the  right to
participate in, and, to the extent the  indemnifying  party so desires,  jointly
with any other indemnifying  party similarly  noticed,  to assume control of the
defense thereof with counsel mutually satisfactory to the indemnifying party and
the Indemnified  Person or the Indemnified  Party, as the case may be; provided,
however, that an Indemnified Person or Indemnified Party shall have the right to
retain its own counsel with the fees and expenses to be paid by the indemnifying
party,  if, in the reasonable  opinion of counsel  retained by the  indemnifying
party,  the  representation  by  such  counsel  of  the  Indemnified  Person  or
Indemnified  Party and the  indemnifying  party  would be  inappropriate  due to
actual or  potential  differing  interests  between such  Indemnified  Person or
Indemnified  Party and any  other  party  represented  by such  counsel  in such
proceeding. The indemnifying party shall pay for only one separate legal counsel
for the Indemnified Persons or the Indemnified Parties, as applicable,  and such
legal counsel shall be selected by Investors holding a  majority-in-interest  of
the Registrable  Securities included in the Registration  Statement to which the
Claim  relates  (with the  approval  of a  majority-in-interest  of the  Initial
Investors),  if the Investors are entitled to indemnification  hereunder, or the
Company, if the Company is entitled to indemnification hereunder, as applicable.
The  failure  to  deliver  written  notice to the  indemnifying  party  within a
reasonable  time of the  commencement  of any such action shall not relieve such
indemnifying  party of any liability to the  Indemnified  Person or  Indemnified
Party under this Section 6, except to the extent that the indemnifying  party is
actually  prejudiced in its ability to defend such action.  The  indemnification
required  by this  Section 6 shall be made by  periodic  payments  of the amount
thereof  during the course of the  investigation  or defense,  as such  expense,
loss, damage or liability is incurred and is due and payable.

     7. CONTRIBUTION.

     To the extent any indemnification by an indemnifying party is prohibited or
limited by law, the indemnifying  party agrees to make the maximum  contribution
with respect to any amounts for which it would otherwise be liable under Section
6 to the  fullest  extent  permitted  by law;  provided,  however,  that  (i) no
contribution  shall be made under  circumstances  where the maker would not have
been liable for  indemnification  under the fault standards set forth in Section
6,  (ii)  no   seller   of   Registrable   Securities   guilty   of   fraudulent
misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be
entitled to contribution  from any seller of Registrable  Securities who was not
guilty of such fraudulent  misrepresentation,  and (iii) contribution  (together
with any  indemnification  or other  obligations  under this  Agreement)  by any
seller of Registrable Securities shall be limited in amount to the net amount of
proceeds received by such seller from the sale of such Registrable Securities.

                                       14
<PAGE>

     8. REPORTS UNDER THE 1934 ACT.

     With a view to making  available to the  Investors the benefits of Rule 144
promulgated  under the 1933 Act or any other  similar rule or  regulation of the
SEC that may at any time permit the investors to sell  securities of the Company
to the public without registration ("RULE 144"), the Company agrees to:

     a.  make  and  keep  public  information  available,  as  those  terms  are
understood and defined in Rule 144;

     b. file with the SEC in a timely  manner all  reports  and other  documents
required  of the  Company  under  the  1933  Act and the 1934 Act so long as the
Company remains subject to such  requirements  (it being understood that nothing
herein  shall  limit  the  Company's  obligations  under  Section  4(c)  of  the
Securities  Purchase  Agreement)  and the  filing  of  such  reports  and  other
documents is required for the applicable provisions of Rule 144; and

     c.  furnish to each  Investor  so long as such  Investor  owns  Registrable
Securities,  promptly upon request,  (i) a written statement by the Company that
it has complied  with the reporting  requirements  of Rule 144, the 1933 Act and
the 1934 Act, (ii) a copy of the most recent  annual or quarterly  report of the
Company and such other reports and documents so filed by the Company,  and (iii)
such other information as may be reasonably requested to permit the Investors to
sell such securities pursuant to Rule 144 without registration.

     9. ASSIGNMENT OF REGISTRATION RIGHTS.

     The rights under this Agreement  shall be  automatically  assignable by the
Investors to any transferee of all or any portion of Registrable  Securities if:
(i) the  Investor  agrees in writing with the  transferee  or assignee to assign
such rights,  and a copy of such  agreement is furnished to the Company within a
reasonable time after such assignment,  (ii) the Company is, within a reasonable
time after such transfer or assignment, furnished with written notice of (a) the
name and address of such  transferee or assignee,  and (b) the  securities  with
respect to which such  registration  rights are being  transferred  or assigned,
(iii)  following  such transfer or assignment,  the further  disposition of such
securities by the  transferee  or assignee is restricted  under the 1933 Act and
applicable  state  securities  laws,  (iv) at or  before  the time  the  Company
receives the written notice  contemplated  by clause (ii) of this sentence,  the
transferee or assignee  agrees in writing with the Company to be bound by all of
the  provisions  contained  herein,  (v) such  transfer  shall have been made in
accordance  with  the  applicable   requirements  of  the  Securities   Purchase
Agreement,  and (vi) such transferee  shall be an "ACCREDITED  INVESTOR" as that
term defined in Rule 501 of Regulation D promulgated under the 1933 Act.

                                       15
<PAGE>

     10. AMENDMENT OF REGISTRATION RIGHTS.

     Provisions of this Agreement may be amended and the observance  thereof may
be waived (either generally or in a particular instance and either retroactively
or prospectively), only with written consent of the Company, each of the Initial
Investors  (to  the  extent  such  Initial   Investor  still  owns   Registrable
Securities)  and  Investors  who hold a  majority  interest  of the  Registrable
Securities.  Any amendment or waiver effected in accordance with this Section 10
shall be binding upon each Investor and the Company.

     11. MISCELLANEOUS.

     a. A person or entity  is deemed to be a holder of  Registrable  Securities
whenever such person or entity owns of record such  Registrable  Securities.  If
the Company receives conflicting instructions,  notices or elections from two or
more persons or entities with respect to the same  Registrable  Securities,  the
Company shall act upon the basis of  instructions,  notice or election  received
from the registered owner of such Registrable Securities.

     b. Any notices  required or  permitted  to be given under the terms  hereof
shall be sent by certified or  registered  mail (return  receipt  requested)  or
delivered  personally or by courier  (including a recognized  overnight delivery
service) or by facsimile and shall be effective  five days after being placed in
the mail, if mailed by regular United States mail, or upon receipt, if delivered
personally or by courier (including a recognized  overnight delivery service) or
by  facsimile,  in each  case  addressed  to a  party.  The  addresses  for such
communications shall be:

               If to the Company:

               eGlobe, Inc.
               1250 24th Street, NW
               Suite 725
               Washington, DC 20037
               Attention: Chairman of the Board and Chief Executive Officer
               Facsimile: (202) 822-8984

               With copy to:

               Hogan & Hartson L.L.P
               Columbia Square
               555 13th Street, NW
               Washington, DC 20004-1109
               Attention: Steven M. Kaufman, Esq.
               Facsimile: (202) 637-5910

                                       16
<PAGE>

If to an Investor:  to the address set forth  immediately  below such Investor's
name on the signature pages to the Securities Purchase Agreement.

               With copy to:

               Ballard Spahr Andrews & Ingersoll, LLP
               1735 Market Street
               Philadelphia, PA 19103
               Attention:  Gerald J. Guarcini, Esq.
               Facsimile: 215-864-8999

     c.  Failure  of any  party to  exercise  any  right or  remedy  under  this
Agreement or otherwise,  or delay by a party in exercising such right or remedy,
shall not operate as a waiver thereof.

     d. This Agreement shall be governed by and construed in accordance with the
laws of the State of Delaware  applicable to agreements made and to be performed
in the State of Delaware (without regard to principles of conflict of laws). The
parties  irrevocably  consent to the  jurisdiction  of the United States federal
courts and the state  courts  located in  Delaware  with  respect to any suit or
proceeding based on or arising under this Agreement, the agreements entered into
in connection  herewith or the transactions  contemplated  hereby or thereby and
irrevocably  agree that all claims in respect of such suit or proceeding  may be
determined  in such  courts.  The  parties  irrevocably  waive the defense of an
inconvenient  forum to the  maintenance of such suit or proceeding.  The parties
further  agree that  service of process  upon a party mailed by first class mail
shall be deemed in every respect  effective service of process upon the party in
any such suit or  proceeding.  Nothing  herein shall affect any party's right to
serve  process in any other manner  permitted  by law. The parties  agree that a
final non-appealable judgment in any such suit or proceeding shall be conclusive
and may be enforced in other  jurisdictions  by suit on such  judgment or in any
other lawful manner.

     e. This  Agreement,  the  Securities  Purchase  Agreement  and the Warrants
(including all schedules and exhibits  thereto)  constitute the entire agreement
among the parties  hereto with respect to the subject matter hereof and thereof.
There are no  restrictions,  promises,  warranties or  undertakings,  other than
those  set  forth or  referred  to  herein  and  therein.  This  Agreement,  the
Securities  Purchase  Agreement and the Warrants  supersede all prior agreements
and  understandings  among the parties hereto with respect to the subject matter
hereof and thereof.

     f. Subject to the  requirements  of Section 9 hereof,  this Agreement shall
inure to the benefit of and be binding upon the  successors  and assigns of each
of the parties hereto.

     g. The headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof.

                                       17
<PAGE>

     h. This  Agreement  may be  executed in two or more  counterparts,  each of
which shall be deemed an original but all of which shall  constitute one and the
same agreement.  This Agreement,  once executed by a party,  may be delivered to
the other parties hereto by facsimile  transmission  of a copy of this Agreement
bearing the signature of the party so delivering this Agreement.

     i. Each party shall do and perform, or cause to be done and performed,  all
such  further  acts and  things,  and shall  execute  and deliver all such other
agreements,  certificates,  instruments  and  documents,  as the other party may
reasonably  request in order to carry out the intent and accomplish the purposes
of this Agreement and the consummation of the transactions contemplated hereby.

     j.  Except  as   otherwise   provided   herein,   all  consents  and  other
determinations  to be made by the Investors  pursuant to this Agreement shall be
made by Investors holding a majority of the Registrable  Securities,  determined
as if the all of the shares of  Preferred  Stock and Warrants  then  outstanding
have been converted into or exercised for  Registrable  Securities,  as the case
may be.

     k.  The  Company  acknowledges  that  a  breach  by it of  its  obligations
hereunder will cause  irreparable  harm to each Investor by vitiating the intent
and purpose of the transactions  contemplated hereby.  Accordingly,  the Company
acknowledges that the remedy at law for breach of its obligations hereunder will
be inadequate and agrees,  in the event of a breach or threatened  breach by the
Company  of any  of the  provisions  hereunder,  that  each  Investor  shall  be
entitled, in addition to all other available remedies in law or in equity, to an
injunction or  injunctions to prevent or cure breaches of the provisions of this
Agreement and to enforce  specifically the terms and provisions hereof,  without
the necessity of showing  economic  loss and without any bond or other  security
being required.

     l. The language  used in this  Agreement  will be deemed to be the language
chosen by the parties to express  their  mutual  intent,  and no rules of strict
construction will be applied against any party.

     m. In the  event  that  any  provision  of this  Agreement  is  invalid  or
unenforceable  under any applicable  statute or rule of law, then such provision
shall be deemed  inoperative  to the extent that it may conflict  therewith  and
shall be deemed  modified  to  conform  with such  statute  or rule of law.  Any
provision  hereof which may prove invalid or  unenforceable  under any law shall
not affect the validity or enforceability of any other provision hereof.

     n.  The  initial   number  of  Registrable   Securities   included  in  any
Registration Statement and each increase to the number of Registrable Securities
included  therein shall be allocated  pro rata among the Investors  based on the
number  of  Registrable  Securities  held by each  Investor  at the time of such
establishment  or increase,  as the case may be. In the event an Investor  shall
sell or otherwise  transfer any of such holder's  Registrable  Securities,  each
transferee  shall be allocated a pro rata  portion of the number of  Registrable
Securities included in a Registration

                                       18
<PAGE>

Statement  for  such  transferor.  Any  Registrable  Securities  included  on  a
Registration  Statement and which remain allocated to any person or entity which
does not hold any  Registrable  Securities  shall be allocated to the  remaining
Investors, pro rata based on the number of shares of Registrable Securities then
held by such  Investors.  For the avoidance of doubt,  the number of Registrable
Securities  held by an Investor  shall be determined as if all Preferred  Shares
and Warrants then  outstanding  and held by an Investor were  converted  into or
exercised for Registrable Securities.

                [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

                                       19
<PAGE>

     IN WITNESS WHEREOF,  the Company and the undersigned Initial Investors have
caused this Agreement to be duly executed as of the date first above written.

EGLOBE, INC.

By:    /s/ Christopher J. Vizas
      ------------------------------
      Christopher J. Vizas
      Chairman of the Board and Chief Executive Officer

RGC INTERNATIONAL INVESTORS, LDC
By:   Rose Glen Capital Management, L.P.,
      Investment Manager
      By:   RGC General Partner Corp.,
            as General Partner

By:    /s/ Wayne D. Bloch
      ----------------------
      Wayne D. Bloch
      Managing Director

                                       20

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}]]