RELEASE
INFOCAST CANADA CORPORATION and INFOCAST CORPORATION (the
"Releasors") in consideration of the sum of TWO DOLLARS ($2.00) and other good
and valuable consideration, the receipt and sufficiency of which consideration
is hereby acknowledged, do and subject to the terms of a Settlement Agreement
dated January 6, 2000, hereby remise, release and forever discharge APPLIED
COURSEWARE TECHNOLOGY INC., XXXXXX XXXXXXXX, XXXX XXXXXXXX and XXXXXX XXXXXXXX
(the "Releasees") their officers, directors, employees, agents, successors and
assigns of and from all manner of actions, causes of action, suits, debts, dues,
accounts, bonds, covenants, contracts, claims and demands whatsoever which
against the said Releasees the Releasors ever had, now has or which its
successors or assigns, or any one of them, can, shall or may have for or by
reason of any cause, matter or thing whatsoever existing up to the date of this
release, whether known or unknown, and specifically including, notwithstanding
the generality of the foregoing, all claims or defences arising out of or
related to the Releasors' claims for damages under a Share Purchase Agreement
dated May 13, 1999 and an Escrow Agreement dated May 13, 1999.
The Releasors further agree not to make any claims (including
any cross-claim, counter-claim, third party claim, action or application)
against any person or corporation who might claim contribution or indemnity
against the Releasees.
It is understood and agreed that the said payment is deemed to
be no admission whatsoever of liability on the part of said Releasees.
IN WITNESS WHEREOF, INFOCAST CANADA CORPORATION and INFOCAST
CORPORATION have hereunto affixed their corporate seals under the hands of its
proper signing officers duly authorized in that behalf this 7th January, 2000.
INFOCAST CANADA CORPORATION
Per:/s/ c./s
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INFOCAST CORPORATION
Per:/s/ c./s
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