EXHIBIT 1 WARRANT AGREEMENT (GUARANTEE OF SWITCH FINANCING) This WARRANT AGREEMENT, dated as of March 5, 1998, between EQUALNET HOLDING CORP., a Texas corporation (the "Company"), and MICHAEL T. WILLIS, a resident of Harris County, Texas ("Willis"...Warrant Agreement • March 12th, 1998 • Willis Mark • Telephone communications (no radiotelephone) • Texas
