VIALOG CORPORATION
           CALCULATION OF SHARES USED IN DETERMINING LOSS PER SHARE
           FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 1997 AND 1998

 
 
                                        THREE MONTHS ENDED JUNE 30,     SIX MONTHS ENDED JUNE 30,
                                        ---------------------------     -------------------------
                                            1997             1998           1997           1998    
                                        ----------       ----------     ----------     ----------
                                                                            
BASIC LOSS PER SHARE
Weighted average number of common
  shares outstanding                     2,799,300        3,628,072      2,773,300      3,585,370
                                         =========        =========      =========      =========
 
                                        THREE MONTHS ENDED JUNE 30,     SIX MONTHS ENDED JUNE 30,
                                        ---------------------------     -------------------------
                                           1997             1998           1997           1998    
                                        ----------       ----------     ----------     ----------
                                                                            
DILUTED LOSS PER SHARE
Weighted average number of common
  shares outstanding                     2,799,300        3,628,072      2,773,300      3,585,370
Common stock equivalents                         -                -              -              -
                                         ---------        ---------      ---------      ---------
Total                                    2,799,300        3,628,072      2,773,300      3,585,370
                                         =========        =========      =========      =========