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<SEC-DOCUMENT>0001047469-03-019831.txt : 20030527
<SEC-HEADER>0001047469-03-019831.hdr.sgml : 20030526
<ACCEPTANCE-DATETIME>20030527163748
ACCESSION NUMBER:		0001047469-03-019831
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20030501
ITEM INFORMATION:		Acquisition or disposition of assets
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20030527

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			I LINK INC
		CENTRAL INDEX KEY:			0000849145
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEGRAPH & OTHER MESSAGE COMMUNICATIONS [4822]
		IRS NUMBER:				592291344
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17973
		FILM NUMBER:		03720122

	BUSINESS ADDRESS:	
		STREET 1:		13751 S WADSWORTH PK DR SUITE 200
		STREET 2:		STE 200
		CITY:			DRAPER
		STATE:			UT
		ZIP:			84020
		BUSINESS PHONE:		8015765000

	MAIL ADDRESS:	
		STREET 1:		13751 S WADSWORTH PK DR
		STREET 2:		STE 200
		CITY:			DRAPER
		STATE:			UT
		ZIP:			84020

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDCROSS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a2112000z8-k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML>
<HEAD>

</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#03DEN1845_1">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<HR NOSHADE>
<HR NOSHADE>
<P ALIGN="CENTER"><FONT SIZE=5><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, D.C. 20549  </B></FONT></P>

<BR>
<P ALIGN="CENTER"><FONT SIZE=5><B>FORM 8-K  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=3><B>CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)&nbsp;OF<BR>
THE SECURITIES AND EXHANGE ACT OF 1934  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>May&nbsp;1, 2003<BR>  </B></FONT><FONT SIZE=2>Date of Report (date of Earliest Event Reported) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=5><B>I-LINK INCORPORATED<BR>  </B></FONT><FONT SIZE=2>(Exact Name of Registrant as Specified in its Charter) </FONT></P>

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<TD WIDTH="30%" ALIGN="CENTER"><FONT SIZE=2><B>FLORIDA<BR> </B></FONT><FONT SIZE=2>(State of Other Jurisdiction of<BR>
Incorporation or Organization)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="30%" ALIGN="CENTER"><FONT SIZE=2><B>0-17973<BR> </B></FONT><FONT SIZE=2>(Commission File No.)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="35%" ALIGN="CENTER"><FONT SIZE=2><B>59-2291344<BR> </B></FONT><FONT SIZE=2>(I.R.S. Employer Identification No.)</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2><B>9775 Business Park Avenue, San Diego, California 92131<BR>  </B></FONT><FONT SIZE=2>(Address of principal executive offices and zip code) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>(858)&nbsp;547-5700<BR>  </B></FONT><FONT SIZE=2>(Registrants telephone number, including area code) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>not applicable<BR>  </B></FONT><FONT SIZE=2>(Former name or former address, if changed from last report) </FONT></P>

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<P><FONT SIZE=2><A
NAME="page_de1845_1_2"> </A> </FONT></P>

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<P><FONT SIZE=2><A
NAME="de1845_item_2._acquisition_or_disposition_of_assets"> </A>
<A NAME="toc_de1845_1"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 2. Acquisition or Disposition of Assets    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;6, 2002, I-Link Incorporated ("I-Link") and I-Link Communications,&nbsp;Inc., a Utah corporation and a
wholly-owned subsidiary of I-Link ("ILC"), and Buyers United,&nbsp;Inc. ("BUI"), entered into a certain Asset Purchase Agreement (the "Agreement"). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
the terms of the Agreement, I-Link agreed to sell to BUI substantially all of the physical assets of ILC required to operate I-Link's nationwide network
using its patented VoIP technology (constituting the core business of ILC) and ILC's customer base (the "Assets"). BUI agreed to pay stock consideration consisting of 300,000 shares of Series&nbsp;B
Convertible Preferred Stock (8% dividend) of BUI (the "Series&nbsp;B Stock"), subject to certain adjustments (the "Stock Consideration"). Of the Stock Consideration, 75,000 shares constitute
contingent consideration to be earned by I-Link based upon the occurrence of certain future events caused by or involving ILC's largest customer. The occurrence of such future events will
be assessed monthly during a fourteen-month period beginning January&nbsp;1, 2003. As of May&nbsp;1, 2003, 21,430 shares of the Series&nbsp;B Stock represent the "earned" portion of 75,000
"earnout shares" of I-Link. Further, 95,000 shares out of the Stock Consideration were issued to I-Link pursuant to the terms and provisions of a certain Software License
Agreement, dated December&nbsp;6, 2002 by and between BUI and I-Link (the "License Agreement") in consideration of I-Link's granting a non-exclusive perpetual
license to BUI to make use of I-Link's certain non-patent and patent intellectual property. The Stock Consideration also includes (i)&nbsp;40,000 shares of Series&nbsp;B
Stock which shares are delivered and placed with the designated escrow agent until September&nbsp;3, 2007 as provided under the terms of a certain Escrow Agreement, dated April&nbsp;30, 2003 by
and among, </FONT><FONT SIZE=2><I>inter alia</I></FONT><FONT SIZE=2>, BUI, I-Link and ILC to reimburse BUI in the event of the occurrence of certain contingencies addressed in a certain
Reimbursement Agreement, also dated April&nbsp;30, 2003 by and among the same parties, and (ii)&nbsp;25,000 shares of Series&nbsp;B Stock issued to I-Link which shares have been
delivered and placed with the designated escrow agent until May&nbsp;1, 2005 to reimburse BUI in the event of the occurrence of certain losses by BUI arising from indemnifiable claims as defined
under the Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
closing occurred on May&nbsp;1, 2003 following receipt of regulatory approvals. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
May&nbsp;1, 2003, I-Link issued a press release ("Press Release") announcing the completion of the above-referenced asset sale. A copy of the Press Release is attached
as Exhibit&nbsp;99.1 hereto. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing is a summary description of the terms of the Agreement and of the License Agreement and by its nature is incomplete. It is qualified in the entirety by the texts of those
documents, copies of which are attached hereto as Exhibits 10.1 and 10.2. All readers of this Current Report are encouraged to read the entire text of those respective documents. </FONT></P>

<P><FONT SIZE=2><A
NAME="de1845_item_7._financial_statements_and_exhibits."> </A>
<A NAME="toc_de1845_2"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 7. Financial Statements and Exhibits.    <BR>    </B></FONT></P>

<P><FONT SIZE=2><B>(a)&nbsp;&nbsp;&nbsp;Financial Statements of Business Acquired.  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None. </FONT></P>


<P><FONT SIZE=2><B>(b)&nbsp;&nbsp;&nbsp;Pro Forma Financial Information.  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No pro forma financials are presented as the planned disposal was reported as a discontinued operation in our historical financial statements. As the sale closed
on May&nbsp;1, 2003, we will report a gain or loss (amount has not yet been determined) in our June&nbsp;30, 2003 quarterly report. </FONT></P>

<P><FONT SIZE=2><B>(c)&nbsp;&nbsp;&nbsp;Exhibits.  </B></FONT></P>

<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>10.1</FONT></DT><DD><FONT SIZE=2>Asset
Purchase Agreement dated December&nbsp;6, 2002 by and between Buyers United,&nbsp;Inc., I-Link Communications&nbsp;Inc., and I-Link
Incorporated(1). </FONT></DD></DL>
<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<A NAME="page_de1845_1_3"> </A>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>10.2</FONT></DT><DD><FONT SIZE=2>Software
License Agreement dated as of December&nbsp;6, 2002 by and between I-Link Incorporated and Buyers United Inc(2).
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>99.1</FONT></DT><DD><FONT SIZE=2>I-Link
Press Release dated May&nbsp;1, 2003(2). </FONT></DD></DL>
<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2><BR>1</FONT></DT><DD><FONT SIZE=2>This
 document was filed with the Securities and Exchange Commission on April&nbsp;30, 2003, as Exhibit&nbsp;10.28 to the Annual Report on Form&nbsp;10-K for the year
ended December&nbsp;31, 2002 (SEC file number 0-17973) and is incorporated herein by this reference.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>2</FONT></DT><DD><FONT SIZE=2>Filed
herewith. </FONT></DD></DL>
<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_jc1845_1_3"> </A> </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jc1845_signatures"> </A>
<A NAME="toc_jc1845_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized
undersigned. </FONT></P>

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<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2>Date: May&nbsp;27, 2003</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2>I-Link Incorporated</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="53%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>STEPHEN WEINTRAUB</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Stephen Weintraub<BR>
Senior VP and Secretary</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

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<BR>
<P><br><A NAME="03DEN1845_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2><A HREF="#toc_de1845_1">ITEM 2. Acquisition or Disposition of Assets</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_de1845_2">ITEM 7. Financial Statements and Exhibits.</A></FONT><BR>
</UL>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_jc1845_1">SIGNATURES</A></FONT><BR>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>a2112000zex-10_2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML>
<HEAD>

</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#03DEN1845_2">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="page_km1845_1_2"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit 10.2  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="km1845_software_license_agreement"> </A>
<A NAME="toc_km1845_1"> </A>
<BR></FONT><FONT SIZE=2><B>SOFTWARE LICENSE AGREEMENT    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS SOFTWARE LICENSE AGREEMENT ("</FONT><FONT SIZE=2><B>Agreement</B></FONT><FONT SIZE=2>") is made by and between </FONT><FONT SIZE=2><B>I-LINK
INCORPORATED</B></FONT><FONT SIZE=2>, a Florida corporation, having its principle place of business at 13751 South Wadsworth Park Drive, Suite 200 Draper Utah, 84020 (hereinafter referred to as
"</FONT><FONT SIZE=2><B>I-Link</B></FONT><FONT SIZE=2>"), </FONT><FONT SIZE=2><B>BUYERS UNITED,&nbsp;INC.</B></FONT><FONT SIZE=2>, a Delaware corporation (hereinafter collectively
referred to as "</FONT><FONT SIZE=2><B>BUYERS</B></FONT><FONT SIZE=2>") on the date last set forth below to be effective as of the Effective Date (as defined in the Asset Purchase Agreement). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>RECITALS  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, I-Link has developed certain technology and is in the business of providing enhanced communication services and software through a protocol
for the internet and application architecture; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
I-Link's wholly owned subsidiary I-Link Communications,&nbsp;Inc. ("</FONT><FONT SIZE=2><B>ILC</B></FONT><FONT SIZE=2>") and BUYERS have entered into
an Asset Purchase Agreement and related documents all dated as of the date hereof (collectively the "</FONT><FONT SIZE=2><B>Transaction Documents</B></FONT><FONT SIZE=2>"), pursuant to which ILC has
agreed to sell to the BUYERS and BUYERS has agreed to purchase from ILC, the assets used by the ILC in its business of providing telecommunications and enhanced services, including I-Link
One Number service, wholesale and retail distribution of real-time Internet Protocol communications network service and applications; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
BUYERS desires to license I-Link's technology for use in BUYERS' business; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW
THEREFORE, in consideration of the above Recitals and the license, payments, covenants, conditions and other terms and conditions set forth in this Agreement, the parties intending
to be legally bound, agree as follows: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Definitions.</B></FONT><FONT SIZE=2> Capitalized terms used but not defined in this Agreement shall have the definitions given them in the
Transaction Documents. As used in this Agreement, unless the context requires another meaning: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Application</B></FONT><FONT SIZE=2>" means an enhanced communication software solution that operates on an AppCenter. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>AppCenter</B></FONT><FONT SIZE=2>" means the enhanced telecommunication network consisting of a Softswitch operating on an RTIP Network. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Distributed Central Arbitration Server</B></FONT><FONT SIZE=2>" or "</FONT><FONT SIZE=2><B>DCAS</B></FONT><FONT SIZE=2>" means
I-Link's proprietary switching or routing mechanism of the Softswitch. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Documentation</B></FONT><FONT SIZE=2>" means all user documentation existing on the Effective Date of this Agreement pertaining to the use of
the Licensed Technology and the engineering journals, design specifications and change information referred to in Section&nbsp;3 below. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>I-Link Applications</B></FONT><FONT SIZE=2>" mean One Number and those Applications described on the attached Schedule&nbsp;1.5. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>I-Link API</B></FONT><FONT SIZE=2>" means the application programming interface used to develop Applications that operate on an RTIP
Network. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Intellectual Property Rights"</B></FONT><FONT SIZE=2> means all patents and patent applications whether pending or not, copyrights (whether
registered or unregistered), inventions whether patented or not, designs (whether registered or unregistered), rights in, for, and to circuit layouts, trade secrets, proprietary technology and other
intellectual property rights such as Know</FONT><FONT SIZE=2><B>-</B></FONT><FONT SIZE=2>How, Show-How, etc. and any </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<A NAME="page_km1845_1_3"> </A>
<UL>
<BR>

<P><FONT SIZE=2>applications
for, or rights to obtain or acquire such rights, whether currently existing or hereafter acquired that pertain to the Licensed Technology. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>BUYERS Application</B></FONT><FONT SIZE=2>" means those Applications developed by BUYERS using the I-Link API that do not constitute
Derivative Works. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.85&nbsp;"</FONT><FONT
SIZE=2><B>Buyer's API</B></FONT><FONT SIZE=2>" means the application programming interface used to develop Applications that operate on an RTIP Network. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Licensed Technology</B></FONT><FONT SIZE=2>" means the source code that relates to I-Link's AppCenter, the I-Link API,
the I-Link Applications and RTIP Network technology. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10&nbsp;</FONT><FONT
SIZE=2><B>"Derivative Works</B></FONT><FONT SIZE=2>" mean any change, addition, enhancement, improvement or other modification of the Licensed Technology
and Documentation made by or on behalf of BUYERS, which includes any part of the Licensed Technology or Documentation. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11&nbsp;"</FONT><FONT
SIZE=2><B>RTIP Network</B></FONT><FONT SIZE=2>" means a real time internet protocol enhanced service telecommunication network consisting of
non-proprietary circuits, routers, telecommunication lines and equipment and other proprietary software and devices connected to the public switched telephone network and the internet
protocol (IP) network. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12&nbsp;"</FONT><FONT
SIZE=2><B>Softswitch</B></FONT><FONT SIZE=2>" means the proprietary call control mechanism including a Central Arbitration Server or DCAS which
establishes connectivity between proprietary devices on the RTIP Network and Applications, including all existing monitoring and administration tools and servers. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13&nbsp;"</FONT><FONT
SIZE=2><B>One Number</B></FONT><FONT SIZE=2>" means I-Link's current enhanced telecommunication platform and application (as modified from
time to time) that includes unified voice messaging, conferencing, facsimile services, follow me, toll free service, etc. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14&nbsp;"</FONT><FONT
SIZE=2><B>WxC</B></FONT><FONT SIZE=2>" means I-Link's wholly owned subsidiary WorldxChange Corp., a Delaware corporation, and its successors
and/or assigns, if any. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15&nbsp;"</FONT><FONT
SIZE=2><B>Gateway</B></FONT><FONT SIZE=2>" means those devices located on the edge of the RTIP Network that serve as connection and signal conversion
mechanisms to other networks, including ISDN, SS7 and SIP. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16&nbsp;"</FONT><FONT
SIZE=2><B>Application Resource</B></FONT><FONT SIZE=2>" means the servers in the RTIP Network that provide services such as voice recognition,
conferencing, text to speech and call recording to Applications, the Voice 4 Less Application Platform and GateLink. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17&nbsp;"</FONT><FONT
SIZE=2><B>Voice 4 Less</B></FONT><FONT SIZE=2>" means I-Link's current enhanced telecommunication platform and Application (as modified from
time to time) that includes unified voice messaging, conferencing, facsimile services, follow me, toll free service, etc, including call processing, platform and the "out of band" broadcast server
referred to as MCP. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.18&nbsp;"</FONT><FONT
SIZE=2><B>GateLink</B></FONT><FONT SIZE=2>" means the Application programming interface used to develop Applications that operate on an RTIP Network. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19&nbsp;"</FONT><FONT
SIZE=2><B>Application Web Services</B></FONT><FONT SIZE=2>" means the web servers and code that provide user interface to Voice 4 Less Applications. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20&nbsp;"</FONT><FONT
SIZE=2><B>OSS"</B></FONT><FONT SIZE=2> means the set of servers, tables and code used to service customers, such as account provisioning and customer
resource management. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.21&nbsp;"</FONT><FONT
SIZE=2><B>Billing</B></FONT><FONT SIZE=2>" means the set of servers, tables and code used to collect raw call detail records (CDR) from the Softswitch
and segregate, rate, tax, and deliver data to OSS and financial systems. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Technology License.</B></FONT><FONT SIZE=2> In consideration of the issuance by BUYERS to I-Link of 45,000 shares of the
Series&nbsp;B Convertible Preferred Stock of BUYERS, and the other agreements, promises, </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

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<A NAME="page_km1845_1_4"> </A>

<P><FONT SIZE=2>covenants
and obligations of BUYERS contained in the Transaction Documents and in this Agreement, I-Link hereby grants to BUYERS a paid-up, non-exclusive,
perpetual, non-transferable, worldwide license to make, have made, and use the Licensed Technology, any and all Derivative Works of the Licensed Technology, and the non-patent
Intellectual Property Rights for the sole purpose of providing enhanced telecommunications services to BUYERS' customers. In consideration of the issuance by BUYERS to I-Link of 50,000
shares of the Series&nbsp;B Convertible Preferred Stock of BUYERS, and the other agreements, promises, covenants and obligations of BUYERS contained in the Transaction Documents and in this
Agreement, I-Link hereby grants to BUYERS a paid-up, non-exclusive, perpetual, non-transferable, worldwide license to make, have made, and use the
patents and patent rights included in the Intellectual Property Rights for the sole purpose of providing enhanced telecommunications services to BUYERS' customers. I-Link agrees that, at
all times, I-Link will offer to BUYERS for BUYERS acceptance thereof any and all terms and conditions made to any licensee of Licensed Technology and any and all Derivative Works of the
Licensed Technology as set forth in this Agreement for the term of this Agreement. BUYERS agrees to promptly inform I-Link of any offer to acquire BUYERS which BUYERS, in its sole
discretion, believes is for the purpose of acquiring the Technology License hereunder. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Documentation License.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;I-Link hereby grants to BUYERS a paid-up,
non-exclusive, perpetual, non-transferable, worldwide license to use and copy the Documentation in support of BUYERS licensed use of the Intellectual Property Rights, Licensed
Technology, and any and all Derivative Works of the Licensed Technology. BUYERS agrees to keep and maintain, within reason and accepted common practice in the software industry, engineering journals,
design specifications and information regarding any change in connection with any of BUYERS' maintenance, operation and development of the Licensed Technology and any Applications of BUYERS. Such
engineering journals, design specifications and change information shall constitute Documentation by BUYERS regarding any such changes by BUYERS to the Licensed Technology. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Ownership and Acceptance.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The parties acknowledge and agree that other than the rights granted to BUYERS in
Sections 2 and 3 above, I-Link shall retain all right, title and interest in the Intellectual Property Rights, Licensed Technology, and any and all Derivative Works of the Licensed
Technology, and Documentation. BUYERS shall be deemed to have accepted the Intellectual Property Rights, Licensed Technology, and Documentation on the actual delivery thereof and/or transfer of
control thereof in its entirety on the Effective Date of this Agreement. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Derivative Works and Buyer Applications.</B></FONT><FONT SIZE=2> This Agreement includes a paid-up, license for BUYERS to make, have
made, and use Derivative Works. I-Link and BUYERS agree that any Derivative Works made by or on behalf of BUYERS shall be exclusively owned by I-Link. All license rights and
provisions for the Licensed Technology and Documentation also apply to Derivative Works made by or on behalf of BUYERS. I-Link and BUYERS agree that any Applications made by or on behalf
of BUYERS will be exclusively owned by BUYERS. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Technical Support and Development.</B></FONT><FONT SIZE=2> Both I-Link and BUYERS acknowledge and agree that pursuant to the
Transaction Documents, BUYERS is acquiring all of the assets whatsoever used by I-Link's current engineering, development and support team that maintains, develops and supports the
Licensed Technology and that BUYERS will make offers of employment to certain I-Link engineers for purposes of establishing and operating a development and engineering facility located at
BUYERS Bluffdale, Utah offices (the "</FONT><FONT SIZE=2><B>Engineering Facility</B></FONT><FONT SIZE=2>"). Throughout the term of this Agreement, BUYERS agrees as follows: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;BUYERS
shall maintain the Engineering Facility in a reasonable condition as is commonly known in the industry for such a facility; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;Whenever
I-Link or WxC employs engineers or developers to develop new I-Link Applications or Derivative Works, upon prior timely notice, BUYERS
agrees to provide such </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

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<UL>
<BR>

<P><FONT SIZE=2>engineers
and developers with access and use of the Engineering Facility and Documentation solely during normal business hours from Monday through Friday of each week, free of charge from BUYERS; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;From
time to time as WxC or I-Link may request upon prior written notice in writing for a reasonable time period not extending beyond one calendar month,
BUYERS agrees to provide reasonable engineering, development, maintenance and support services in connection with the Licensed Technology at rates no less favorable than prevailing market rates at
that time in the industry as determined by BUYERS; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4&nbsp;&nbsp;&nbsp;Upon
prior written notice in writing for a reasonable time period not extending beyond one calendar month, BUYERS shall provide I-Link and WxC with any
reasonable, necessary, and required instruction and training as commonly provided in the industry with respect to the Derivative Works made by or on behalf of BUYERS, the BUYERS Applications, and
related Documentation free of charge; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5&nbsp;&nbsp;&nbsp;BUYERS
agrees to be responsible for all of its own development, maintenance, support and engineering regarding the Licensed Technology and the Applications made by or on
behalf of BUYERS. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Audit:</B></FONT><FONT SIZE=2> Upon prior written request and timely notice by I-Link, BUYERS agrees to provide to I-Link
a signed certification (i)&nbsp;verifying the Licensed Technology is being used in accordance with the terms of this Agreement; (ii)&nbsp;listing the locations on which the software of the
Licensed Technology is used, and (iii)&nbsp;identifying and describing any Derivative Works and Applications made by or on behalf of BUYERS. I-Link may, solely at its expense and upon
reasonable and timely prior written notice to BUYERS during normal business hours occurring Monday through Friday of any week, not including any holiday, (a)&nbsp;audit the use of the Licensed
Technology by a Customer of BUYERS and compliance with the terms of this Agreement or (b)&nbsp;obtain from BUYERS a copy of the current Documentation and a machine readable copy of the current
source code of the Licensed Technology, the Derivative Works and Applications made by or on behalf of BUYERS. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Export Law Compliance.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;All software acquired under this Agreement shall be subject to all applicable laws,
rules and regulations of the United States of America (hereinafter referred to as "United States") as well as laws of the countries in which BUYERS transacts business, specifically including United
States export control laws. BUYERS agrees not to export, directly or indirectly, any software or equipment acquired under this Agreement to any country for which the Government of the United States or
any agency thereof, at the time of export, requires an export license or other government approval, without first obtaining such license or approval. BUYERS agrees to be at solely at BUYERS cost and
expense, responsible for obtaining the appropriate licenses or permits necessary to export the Licensed Technology from the Government of the United States. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Term and Termination</B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;The term of this Agreement shall commence on the Effective Date and continue unless
terminated as follows: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;I-Link
may terminate this Agreement immediately upon notice to BUYERS if (i)&nbsp;either party is unable to obtain or maintain any license, waiver,
consent, registration or approval required by or in the United States or any license, waiver, consent, registration or approval required by the government of a foreign country needed to fulfill their
respective obligations under this Agreement; or (ii)&nbsp;the continued use of the Licensed Technology under this Agreement by BUYERS would contravene any order from such government regarding an
applicable regulation or law of a city, state, province, or nation; or </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;Either
party may terminate this Agreement if the other party breaches one or more of its obligations under this Agreement or the Transaction Documents and the defaulting
party fails to cure such default within thirty (30)&nbsp;days after written notice by the other party of such default; or </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

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<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3&nbsp;&nbsp;&nbsp;BUYERS
may terminate this Agreement immediately upon written notice to I-Link if I-Link dissolves, discontinues, or terminates its business
operations to which this Agreement pertains or makes any assignment of any rights, licenses, and/or technology set forth herein for any benefit of creditors, or grants any license to any entity under
any terms not offered to BUYERS which BUYERS considers are more favorable than in this Agreement. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Effect of Termination.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon termination of this Agreement, BUYERS agrees to (i)&nbsp;immediately cease
using the Licensed Technology, and (ii)&nbsp;certify to I-Link within thirty (30)&nbsp;days of termination that Buyer has returned to I-Link all software pertaining to the
Licensed Technology and the Documentation and all copies thereof remaining in BUYERS' possession. This requirement applies to copies in all forms, partial and complete, in all types of media and
computer memory, and whether or not modified or merged with or into other materials. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Representations and Warranties.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each party to this Agreement represents and warrants to the other parities
that: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1&nbsp;Such
party is a corporation duly organized, validly existing, and in good standing under the laws of its jurisdiction of incorporation, with full corporate power and
authority to conduct its business as it is now being conducted, to own or use the properties and assets that it purports to own or use, and to perform all its obligations under this Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2&nbsp;Such
party has full power and authority to execute and deliver this Agreement, and to perform its obligations hereunder and to consummate the transactions contemplated
hereby. The execution, delivery and performance by such party has been duly and validly authorized and no additional corporate authorization or consent is required in connection with the execution,
delivery and performance of this Agreement. This Agreement constitutes the valid and legally binding obligation of such party, enforceable against it in accordance with its terms, subject, as to
enforcement, to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting creditors' rights and to general equity principles whether or not considered in
a court of law or equity. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Indemnity</B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;Each party agrees to indemnify the other party, its subsidiaries and affiliates, and their
officers, directors, employees and agents ("</FONT><FONT SIZE=2><B>Those Indemnified</B></FONT><FONT SIZE=2>") against all expenses, losses, damages and costs (including legal fees) incurred by Those
Indemnified in the performance of this Agreement as a result of: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1&nbsp;any
injury to or death of any person caused by an act or omission of the indemnifying party or its officers, employees, agents or subcontractors; or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2&nbsp;any
damage to real or tangible property caused by any act or omission of the indemnifying party or its officers, employees, agents or subcontractors; or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3&nbsp;the
gross negligence or willful misconduct of the indemnifying party or its officers, employees, agents or subcontractors; or </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4&nbsp;a
breach of any of the terms of this Agreement by the indemnifying party or its officers, employees, agents or subcontractors. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Disclaimer of Implied Warranties.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;EXCEPT AS MAY BE SPECIFICALLY SET FORTH IN THIS AGREEMENT,
I-LINK MAKES NO WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY I-LINK TECHNOLOGY, INTELLECTUAL PROPERTY, SERVICES, SOFTWARE, EQUIPMENT, PRODUCT OR DOCUMENTATION. I-LINK
SPECIFICALLY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OR MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT
OF THIRD PARTY RIGHTS. I-LINK MAKES NO WARRANTIES OR REPRESENTATIONS WHATSOEVER WITH RESPECT TO THE INTELLECTUAL PROPERTY </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>6</FONT></P>

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<P><FONT SIZE=2>RIGHTS,
INCLUDING ANY PATENT, COPYRIGHT AND TRADEMARK RIGHTS, OF ANY THIRD PARTY WITH RESPECT TO THE LICENSED TECHNOLOGY, DOCUMENTATION OR DERIVATIVE WORKS, WHETHER RELATING TO INFRINGEMENT OR
OTHERWISE. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Limitation of Damages.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY INDIRECT, CONSEQUENTIAL,
EXEMPLARY, SPECIAL, INCIDENTAL OR PUNITIVE DAMAGES, INCLUDING WITHOUT LIMITATION LOSS OF USE OR LOST BUSINESS, REVENUE, PROFITS, OR GOODWILL, ARISING IN CONNECTION WITH THIS AGREEMENT UNDER ANY THEORY
OF TORT, CONTRACT, WARRANTY, STRICT LIABILITY OR NEGLIGENCE, EVEN IF THE PARTY HAS BEEN ADVISED, KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES. THE TOTAL LIABILITY OF I-LINK
TO BUYER FOR CLAIMS MADE IN CONNECTION WITH THIS AGREEMENT SHALL BE LIMITED TO THE LESSER OF (A)&nbsp;DIRECT DAMAGES PROVEN BY BUYER OR (B)&nbsp;THE PURCHASE PRICE AS DEFINED IN THE ASSET PURCHASE
AGREEMENT. THE FOREGOING LIMITATION APPLIES TO ALL CAUSES OF ACTION AND CLAIMS, INCLUDING, WITHOUT LIMITATION, BREACH OF CONTRACT, BREACH OF WARRANTY, NEGLIGENCE, STRICT LIABILITY, MISREPRESENTATION
AND OTHER TORTS. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Confidentiality.</B></FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1&nbsp;Each
party agrees that all information furnished to it by the other party, or to which it has access under this Agreement shall be deemed the confidential and
proprietary information or trade secrets (collectively referred to as "</FONT><FONT SIZE=2><B>Proprietary Information</B></FONT><FONT SIZE=2>") of the Disclosing Party and shall remain the sole and
exclusive property of the Disclosing Party (the Party furnishing the Proprietary Information referred to as the "</FONT><FONT SIZE=2><B>Disclosing Party</B></FONT><FONT SIZE=2>" and the other Party
referred to as the "</FONT><FONT SIZE=2><B>Receiving Party</B></FONT><FONT SIZE=2>"). Each Party shall treat the Proprietary Information and the contents of this Agreement in a confidential manner
and, except to the extent necessary in connection with the performance of its obligations under this Agreement, neither party may directly or indirectly disclose the same to anyone other than its
employees on a need to know basis and who agree to be bound by the terms of this Section, without the written consent of the Disclosing Party. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2&nbsp;BUYERS
acknowledges that from time to time I-Link may be required to disclose the terms and conditions of this Agreement in connection with its public
reporting obligations, company financing, merger, acquisition, partnering or related activities and Buyer hereby consents to the disclosure of this Agreement under such circumstances. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3&nbsp;The
confidentiality of obligations of this Section do not apply to any portion of the Proprietary Information which is (i)&nbsp;or becomes public knowledge through no
fault of the Receiving Party; (ii)&nbsp;in the lawful possession of Receiving Party prior to disclosure to it by the Disclosing Party (as confirmed by the Receiving Party's records);
(iii)&nbsp;disclosed to the Receiving Party without restriction on disclosure by a person who has the lawful right to disclose the information; or (iv)&nbsp;disclosed pursuant to the lawful
requirements or formal request of a governmental agency. If the Receiving Party is requested or legally compelled by a governmental agency to disclose any of the Proprietary Information of the
Disclosing Party, the Receiving Party agrees that it will provide the Disclosing Party with prompt written notice of such requests so that the Disclosing Party has the opportunity to pursue its legal
and equitable remedies regarding potential disclosure. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.4&nbsp;Each
party acknowledges that its breach or threatened breach of this Section may cause the Disclosing Party irreparable harm which would not be adequately compensated
by monetary damages. Accordingly, in the event of any such breach or threatened breach, the Receiving Party agrees that equitable relief, including temporary or permanent injunctions, is an available
remedy in addition to any legal remedies to which the Disclosing Party may be entitled. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>7</FONT></P>

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<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.5&nbsp;I-Link
agrees not to solicit any employee of BUYERS for any reason during the term of this Agreement and agrees not to grant any licenses for Licensed
Technology and any and all Derivative Works of the Licensed Technology to any person or entity without the agreement of such licensee to not solicit any employee of BUYERS, without BUYERS' permission,
for employment for the term of such license. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Logos and Marks.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Neither party may use the name, logo, trade name, service marks, trade marks, or printed
materials of the other party, in any promotional or advertising material, statement, document, press release or broadcast without the prior written consent of the other party. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>General Provisions.</B></FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Publicity.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Neither party shall issue any press release pertaining to the subject matter of
this Agreement without obtaining the prior written approval of the other party, which approval shall not be unreasonably withheld; provided, however, that either party, in its sole discretion, may
withhold its consent with respect to any forward looking statement as to its business or operation. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Representation.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The parties acknowledge and agree that the relationship between them is
solely that of independent contractors. Neither party, nor their respective employees, agents or representatives, has any right, power or authority to act or create any obligation, express or implied,
on behalf of the other party. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Force Majeure.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Other than with respect to Buyer's failure to make payments due hereunder,
neither party shall be liable under this Agreement for delays, failures to perform, damages, losses or destruction, or malfunction of any service, equipment or any consequence thereof, caused by, or
due to fire, earthquake, flood, water, the elements, third party labor disputes, utility curtailments, power failures, explosions, civil disturbances, governmental actions, acts of terrorism,
shortages of equipment, services or supplies, unavailability of transportation, acts or omissions of third parties, or any other cause beyond its reasonable control. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Waivers.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No waiver of any term or condition of this Agreement shall be enforceable unless it
is in writing and signed by the party against whom it is sought to be charged. No failure or delay by either party in exercising any right, power or remedy will operate as a waiver of any such right,
power or remedy, unless otherwise provided herein. The waiver by either party of any of the covenants, conditions or agreements to be performed by the other or any breach thereof shall not operate or
be construed as a waiver of any subsequent breach of any such covenant, condition or agreement. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Assignment.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and the license granted hereunder is personal to the parties and
may not be assigned by any act of either party or by operation of law without the other party's written consent, which consent shall not be unreasonably delayed or withheld; provided, however, that
either party may assign this Agreement to a subsidiary or in connection with any acquisition or merger without the other party's consent; provided further, however, that in no event shall any such
assignment by BUYERS have the effect of conferring protection against suit or liability on any successor in interest who was infringing the patent rights of I-Link prior to the
acquisition. Any assignment or transfer not in conformance with this Section&nbsp;17.5 shall be null, void and of no legal effect </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Integration.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Agreement represents the entire agreement between the Parties with respect
to the subject matter hereof and supersedes and merges all prior agreements, promises, understandings, statements, representations, warranties, indemnities and inducements relied upon by either Party,
whether written or oral. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Construction.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The language used in this Agreement is deemed the language chosen by the
parties to express their mutual intent. No rule of strict construction shall be applied against either party. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>8</FONT></P>

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<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Performance and Governing Law.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be governed by and construed in
accordance with the laws of the State of Utah without regard to the State of Utah's choice of law provisions. The parties hereby consent to personal jurisdiction and venue in and before the state and
federal courts of the State of Utah. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement the prevailing party shall be entitled to reasonable attorney's
fees and costs in addition to any other relief to which such party may be entitled. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Notices.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;All notices, including but not limited to, demands, requests and other
communications required or permitted hereunder shall be in writing and shall be deemed given: (i)&nbsp;when delivered in person, (ii)&nbsp;24&nbsp;hours after deposit with an overnight delivery
service for next day delivery, (iii)&nbsp;the same day when sent by e-mail or facsimile transmission during normal business hours, receipt confirmed by sender's equipment, or
(iv)&nbsp;three (3)&nbsp;business days after deposit in the United States mail,
postage prepaid, registered or certified mail, return receipt requested, and addressed to the recipient party at the address set forth below: </FONT></P>
</UL>
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<DIV ALIGN="CENTER"><TABLE WIDTH="63%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="32%"><FONT SIZE=2>If to Buyers, to:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="64%"><FONT SIZE=2>Buyers United,&nbsp;Inc.<BR>
14870 Pony Express Road<BR>
Bluffdale, Utah 84065<BR>
Telecopy: (801)&nbsp;320-3312<BR>
Attention: Paul Jarman, Executive Vice President</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%"><FONT SIZE=2><BR>
If to I-Link, to:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="64%"><FONT SIZE=2><BR>
I-Link Incorporated<BR>
13751 S. Wadsworth Park Drive, Suite 200<BR>
Draper, Utah 84020<BR>
Telecopy: (801)&nbsp;576-5000<BR>
Attention: Helen Seltzer, President</FONT></TD>
</TR>
</TABLE></DIV>
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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Counterparts.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be executed in several counterparts, each of which shall
constitute an original, but all of which shall constitute one and the same instrument. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Third Parties.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Agreement and the rights and obligations created
hereunder are intended for the sole benefit of BUYERS and I-Link, and do not create any right, claim or benefit on the part of any person not a party to this Agreement, including
end-users. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Survival Of Provisions.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Any obligations of the parties relating to monies owed, as well as
those provisions relating to confidentiality, limitations on liability and indemnification, shall survive termination of this Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Unenforceability Of Provisions.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The illegality or unenforceability of any provision of this
Agreement does not affect the legality or enforceability of any other provision or portion. If any provision or portion of this Agreement is deemed illegal or unenforceable for any reason, there shall
be deemed to be made such minimum change in such provision or portion as is necessary to make it valid and enforceable as so modified. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Amendments.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Agreement is voidable by I-Link if the text is modified by
BUYERS without the written or initialed consent of an authorized I-Link officer. Any amendments or modifications to this Agreement must be in writing and signed by an authorized officer of
each party. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Authority.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each individual executing below on behalf of a party hereby represents and
warrants that such individual is duly authorized to so execute, and to deliver this Agreement. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>9</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the parties have executed this Agreement on the dates set forth below to be effective on the Effective Date. </FONT></P>

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<TD COLSPAN=3><FONT SIZE=2><B>BUYERS UNITED,&nbsp;INC.</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="39%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="5%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>THEODORE STERN</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Theodore Stern, Chief Executive Officer</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="39%"><FONT SIZE=2><BR>
December&nbsp;6, 2002</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3><BR><FONT SIZE=2><B>I-LINK INCORPORATED</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="39%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="5%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>GARY J. WASSERSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Gary J. Wasserson, Director</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="39%"><FONT SIZE=2><BR>
December&nbsp;6, 2002</FONT></TD>
</TR>
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<P ALIGN="CENTER"><FONT SIZE=2>10</FONT></P>

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<BR>
<P><br><A NAME="03DEN1845_2">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_km1845_1">SOFTWARE LICENSE AGREEMENT</A></FONT><BR>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>a2112000zex-99_1.htm
<DESCRIPTION>EX-99.1
<TEXT>
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</HEAD>
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<BR>
<FONT SIZE=3 ><A HREF="#03DEN1845_3">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<!-- TOC_END -->
<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit&nbsp;99.1  </B></FONT></P>

<P><FONT SIZE=2><B>FOR IMMEDIATE RELEASE  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="lm1845_i-link_completes_sale_of_opera__i-l02479"> </A>
<A NAME="toc_lm1845_1"> </A></FONT> <FONT SIZE=2><B>I-Link Completes Sale of Operations of I-Link Communications&nbsp;Inc.    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Retains VoIP Technology and Patents  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Will Focus on Acceris Communications Partners, Solutions and Technologies Strategic Business Units  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SAN DIEGO, CA, May&nbsp;1, 2003&#151;I-Link Incorporated ("I-Link", OTC-Electronic Bulletin Board: ILNK) today
announced that it has completed the previously announced sale of substantially all of the assets of I-Link Communications&nbsp;Inc. ("ILC"), a wholly-owned subsidiary of
I-Link, to Buyers United,&nbsp;Inc. ("BUI", OTC Bulletin Board: BYRS). I-Link has retained the ownership of its core voice-over-IP ("VoIP") technology
and patents. The sale does not include I-Link's wholly-owned subsidiary, WorldxChange Corp. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BUI
is acquiring the physical assets, and certain related liabilities, required to operate I-Link's nationwide network using its patented VoIP technology (constituting the
core business of ILC) and ILC's customer base. As part of the transaction, a significant portion of the purchase price was allocated to BUI's acquisition of a perpetual license to use
I-Link's
proprietary software platform and to use I-Link's VoIP patent. The sale price consists of $3&nbsp;million of convertible preferred shares of BUI, which, subject to adjustment in certain
circumstances, are convertible into 1.5mm common shares, or approximately a 12% ownership position in BUI (diluted, after conversion). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
sale of the ILC network and assets has significantly reduced I-Link's operational, personnel and overhead costs, transforming I-Link into an organization with
a focused strategy that is cash-flow positive. In addition, I-Link, by retaining ownership of its proprietary technology and patents, will be in a position to realize on their
intrinsic value. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to BUI, I-Link is exploring opportunities to license its proprietary technology through a new subsidiary, Acceris Communications Technologies&nbsp;Inc. Through
this new subsidiary, I-Link is offering its unique and proven network convergence solution to interexchange carriers, CLECs and system integrators. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I-Link's
principal operations today are conducted through WorldxChange Corp. whose Acceris Communications Partners division provides discounted long distance services to both
residential and small business customers, primarily through multi-level marketing and commercial agent programs. In addition, WorldxChange's Acceris Communications Solutions division offers voice
services and fully-integrated, fully- managed data services to enterprise customers. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allan
Silber, Chairman, President and CEO of I-Link and Counsel Corporation, I-Link's parent, said, "The completion of this sale represents a turning point for
the Company. I-Link is now positioned to be an operating company with positive earnings and cash flow. As well, our shareholders will benefit from the Company's existing technology and
patents and the licensing opportunities that they provide." </FONT></P>

<P><FONT SIZE=2><B>About I-Link Incorporated  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I-Link Incorporated (OTC-Electronic Bulletin Board: ILNK) has developed a proprietary, software-defined communications platform that
unites traditional telecommunications capabilities with data Internet Protocol (IP) systems to converge telecommunications, wireless, paging, voice-over-IP (VoIP) and Internet
technologies. I-Link conducts its principal operations through three strategic business units: Acceris Communications Partners
(</FONT><FONT SIZE=2><I>www.accerispartners.com</I></FONT><FONT SIZE=2>) and Acceris Communications Solutions (</FONT><FONT SIZE=2><I>www.accerissolutions.com</I></FONT><FONT SIZE=2>) and Acceris
Communications Technologies (</FONT><FONT SIZE=2><I>www.acceristechnologies.com</I></FONT><FONT SIZE=2>). For further information, visit I-Link's website at </FONT> <FONT SIZE=2><I>www.i-link.com</I></FONT><FONT SIZE=2>. </FONT></P>

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<P><FONT SIZE=2><B>About Counsel Corporation  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Headquartered in Toronto, Ontario, Counsel Corporation (TSX: CXS / NASDAQ: CXSN) is a diversified company focused on acquiring and building businesses using its
financial and operational expertise in two specific sectors: communications and real estate. Counsel's communications platform is focused on building upon its existing communications businesses
through organic growth and by acquiring substantial additional customer revenues. Counsel's real estate platform has a focused strategy of investing in and developing income producing commercial
properties, primarily retail shopping centers. For further information, visit Counsel's website at </FONT><FONT SIZE=2><I>www.counselcorp.com</I></FONT><FONT SIZE=2>. </FONT></P>

<P><FONT SIZE=2><B><I>Forward-Looking Statements  </I></B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>The statements made in this release that are not historical facts contain forward-looking information that involves risks and
uncertainties. All statements, other than statements of historical facts, which address I-Link's, and Counsel Corporation's expectations, should be considered as forward-looking
statements. Such statements are based on knowledge of the environment in which they currently operate, but because of the factors herein listed, as well as other factors beyond their control, actual
results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not
limited to, obtaining necessary approvals and other risks detailed from time to time in the Companies' securities and other regulatory filings.</I></FONT></P>

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<TD WIDTH="9%"><FONT SIZE=2>Contact:</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2>Stephen Weintraub, Senior VP&nbsp;&amp; Secretary</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="9%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%"><FONT SIZE=2>416-866-3058</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="65%"><FONT SIZE=2>saw@counselcorp.com</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<P><br><A NAME="03DEN1845_3">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_lm1845_1">I-Link Completes Sale of Operations of I-Link Communications Inc.</A></FONT><BR>

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