.FIN

REGISTRY OPERATOR’S PROPOSAL

COVER SHEET

The application is composed of the following documents :

1/ REGISTRY OPERATOR FITNESS DISCLOSURE

2/ CONFIDENTIALITY STATEMENT

3/ REGISTRY OPERATOR’S PROPOSAL

4/ REGISTRY OPERATOR’S PROPOSAL APPENDIXES

VOLUME 1.

D 13.1. BUSINESS PLAN

D 13.2.5 MARKET/VOLUMES/PRICE

D 13.2.4 REGISTRARS

D 13.2.7a TECHNICAL

D 13.2.6 LABOR RESOURCES

D 13.2.11c OTHER COSTS

D 13.2.11b SPONSORING ORGANIZATION BUDGET

D 13.2.7b DEPRECIATION

D 13.2.8 STAFF

D 13.2.11a SALARIES COSTS

D 13.2.12 REVENUES

D 13.2.14 PROFIT AND LOSS ACCOUNTS

D 13.2.13a SOURCES AND USES OF FUNDS

D 13.2.13b PROJECTED BALANCE SHEET

STRUCTURE

D 13.2.13c PROJECTED BALANCE SHEETS

D 13.2.3 MARKET

VOLUME 2.

CONFIDENTIAL

VOL.2 D 13.2.13 NETBAY SHAREHOLDER S’ BANKER LETTER

VOL.2 D 13.4.4 FIRM COMMITMENT OF CAPITAL

NON CONFIDENTIAL

VOL.2 D 13.1.1 LEGAL ORGANIZATION CHART

VOL.2 D 13.4.3b PRO FORMA ACCOUNTS (EURAFNET, NETBAY)

VOL.2 D 15.2.2 SRS P.TXT

VOLUME 3.

CONFIDENTIAL

VOL.3 D 13.4.5 INSURANCE CONTRACTS

NON CONFIDENTIAL

VOL.3 D 13.4.1 ORGANIZATIONAL DOCUMENTS

VOL.3 D 13.4.3a ANNUAL REPORTS

_______________________________

Signature

_______________________________

Name (please print)

PATRICIA HUSSON

_______________________________

Title

CHAIRMAN

_______________________________

Name of Registry Operator

NETBAY

_______________________________

Date

30/09/2000

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Signature Signature

_______________________________ _______________________________

Name (please print) Name (please print)

PATRICIA HUSSON SIEGFRIED LANGENBACH

_______________________________ _______________________________

Title Title

CHAIRMAN CHAIRMAN

_______________________________ _______________________________

Name of Shareholder Name of Shareholder

EURAFNET SA CSL GmbH

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Date Date

30/09/2000 30/09/2000