EXHIBIT 10.3

               AMENDMENT NO. 1 TO LOAN AND NOTE PURCHASE AGREEMENT

         Amendment No. 1 to Loan and Note Purchase  Agreement (the  "Amendment")
is entered  into as of this 30th day of June,  1999 by and among  eGlobe,  Inc.,
formerly  known  as  Executive  TeleCard,  Ltd.,  ("Parent"),  eGlobe  Financing
Corporation  ("eGlobe  Financing"),   IDX  Financing  Corporation,   a  Delaware
corporation  ("IDX  Financing"),   Telekey  Financing  Corporation,  a  Delaware
corporation ("Telekey Financing") and EXTL Investors, LLC ("Investor").

                  WHEREAS,  Parent, eGlobe Financing and Investor entered into a
Loan and Note Purchase Agreement dated April 9, 1999 (the "Purchase Agreement");
and

                  WHEREAS,  the parties desire to make certain amendments to the
Purchase Agreement.

                  NOW THEREFORE, the parties hereto do hereby agree as follows:

                  1. IDX Financing and Telekey  Financing shall each be added as
co-makers of the 5% Secured Notes (the "Secured  Notes") and the revolving  note
based on the balance of  accounts  receivable  (the "A/R Note" and  collectively
with the Secured Notes,  the "Notes"),  and together with eGlobe  Financing will
have joint and several  liability  for any  obligations  under the Notes and the
Security Agreement (as such term is defined under the Purchase Agreement.

                  2. Section 1.2(f) of the Purchase  Agreement  shall be amended
by deleting all of said section and  replacing  the deleted  language with a new
Section 1.2(f) that reads as follows:

                           (f) Security  Agreement;  Asset  Transfer.  The Notes
                  shall be secured by and shall be entitled to the benefits of a
                  Security Agreement (the "Security Agreement") substantially in
                  the form  attached  hereto as Exhibit F to be entered  into by
                  the  Companies and the Investor at the Second  Closing.  At or
                  prior to the Second  Closing,  the Parent  shall (i) convey or
                  cause its  subsidiaries  (except for IDX  International,  Inc.
                  ("IDX")  and  Telekey,  Inc.  ("Telekey")  to convey to eGlobe
                  Financing,  on the  terms  and  conditions  set  forth  in the
                  transfer documents reasonably  acceptable to the Investor (the
                  "eGlobe Financing Transfer  Documents"),  the assets described
                  in Exhibit G-1 presently owned by such transferors; (ii) cause
                  IDX to convey to IDX  Financing,  on the terms and  conditions
                  set forth in the transfer documents  reasonably  acceptable to
                  the Investor (the "IDX  Financing  Transfer  Documents"),  the
                  assets  described in Exhibit G-1  presently  owned by IDX; and
                  (iii)  cause  Telekey to convey to Telekey  Financing,

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                  on  the  terms  and  conditions  set  forth  in  the  transfer
                  documents reasonably  acceptable to the Investor (the "Telekey
                  Financing  Transfer  Documents"),   the  assets  described  in
                  Exhibit G-1 presently owned by Telekey. The Parent shall cause
                  its subsidiaries to convey to the relevant Company, during the
                  period in which the Notes are outstanding, all assets acquired
                  after the date hereof which are  described in Exhibit G-2. (If
                  such assets cannot be conveyed without  violating the terms of
                  Material  Contracts,  the Parent or relevant  subsidiary shall
                  enter into a comparable security agreement granting a security
                  interest,  to the  extent  permitted  by  applicable  Material
                  Contracts.)  In the event that any of the  transferred  assets
                  are  already   encumbered  by  an  Encumbrance   that  is  not
                  prohibited  hereunder,  it is intended that the Investor would
                  receive a second  priority  security  interest  to the  extent
                  permitted  by the  documents  evidencing  the  first  security
                  interest,  and the  Company  and the  Parent  agree to use all
                  reasonable efforts to obtain such consents as may be necessary
                  from the holders of such first  security  interests to allow a
                  second  security  interest to be placed on such assets for the
                  benefit of the Investor.

                  3. Section 2.3(a) of the Purchase  Agreement  shall be amended
by replacing all references to the "Company" with "eGlobe Financing."

                  4. The  Purchase  Agreement  shall be  amended by adding a new
Section 2.3(c) and (d) which shall read as follows:

                                    (c)  The  authorized  capital  stock  of IDX
                  Financing  consists of 4,000  shares of common  stock of which
                  100 shares are validly issued and outstanding,  fully paid and
                  non-assessable, all of which are held (directly or indirectly)
                  by Parent free and clear of all Encumbrances, and 1,000 shares
                  of preferred  stock,  none of which are issued or outstanding.
                  There are no options,  warrants or other  rights,  agreements,
                  arrangements  or commitments of any character  relating to the
                  issued  or  unissued   capital   stock  of  IDX  Financing  or
                  obligating  IDX  Financing  to  issue or sell  any  shares  of
                  capital stock of, or other equity  interests in IDX Financing,
                  including any  securities  directly or indirectly  convertible
                  into or exercisable or  exchangeable  for any capital stock or
                  other equity  securities of IDX Financing,  expect for options
                  or rights  held by the Parent.  All shares of common  stock of
                  IDX  Financing  are duly and  validly  issued,  fully paid and
                  nonassessable.

                                    (d) The authorized  capital stock of Telekey
                  Financing  consists of 2,000  shares of common  stock of which
                  100 shares are validly issued and outstanding,  fully paid and
                  non-assessable, all of which are held (directly or indirectly)
                  by Parent free and clear of all

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                  Encumbrances,  and 1,000  shares of preferred  stock,  none of
                  which  are  issued  or  outstanding.  There  are  no  options,
                  warrants  or  other  rights,   agreements,   arrangements   or
                  commitments  of  any  character  relating  to  the  issued  or
                  unissued  capital  stock of Telekey  Financing  or  obligating
                  Telekey Financing to issue or sell any shares of capital stock
                  of, or other equity interests in Telekey Financing,  including
                  any  securities  directly or  indirectly  convertible  into or
                  exercisable  or  exchangeable  for any capital  stock or other
                  equity securities of Telekey Financing,  expect for options or
                  rights  held by the  Parent.  All  shares of  common  stock of
                  Telekey Financing are duly and validly issued,  fully paid and
                  nonassessable.

                  5. The "Company" shall refer to each of eGlobe Financing,  IDX
Financing  and  Telekey  Financing  for all other  purposes  under the  Purchase
Agreement,  except with respect to Section 2.6 (Financial  Statements) and where
the context requires otherwise.

                  6.  Copies  of  all  notices  to  IDX  Financing  and  Telekey
Financing  shall be sent c/o eGlobe,  Inc. to its  principal  place of business,
attention "Chairman."

                  7. Capitalized  terms used herein and not defined herein shall
have the  meaning  ascribed  to them in the  Purchase  Agreement.  All terms and
provisions of the Purchase Agreement and amendments  thereto, as amended hereby,
shall  continue  in full  force and  effect,  and are  hereby  confirmed  in all
respects.

                  8. This  Amendment No. 1 to Loan and Note  Purchase  Agreement
may be executed in several counterparts,  each of which is an original,  but all
of which together constitute one and the same agreement.

                  9. All corporate law matters  arising under this Amendment No.
1 to Loan and Note  Purchase  Agreement  shall be governed by and  construed  in
accordance with the laws of the State of Delaware, and all other matters arising
under this Agreement  shall be governed by and construed in accordance  with the
laws of the  State of  Texas,  in each case  regardless  of the laws that  might
otherwise  govern under  applicable  principles of conflicts of law. Each of the
parties  consents to the  jurisdiction  of the federal  courts  whose  districts
encompass  any part of the  State of Texas or the  state  courts of the State of
Texas in connection  with any dispute arising under this Amendment No. 1 to Loan
and Note Purchase  Agreement and hereby waives,  to the maximum extent permitted
by law, any objection, including any objection based on forum non conveniens, to
the bringing of any such proceeding in such jurisdictions.

                  [Remainder of Page Intentionally Left Blank]

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         IN WITNESS WHEREOF,  the parties have executed this Amendment as of the
date first set forth above.

                                   EGLOBE, INC.

                                   By:__________________________________
                                   Name/Title:__________________________


                                   EGLOBE FINANCING CORPORATION

                                   By:__________________________________
                                   Name/Title:__________________________


                                   IDX FINANCING CORPORATION

                                   By:__________________________________
                                   Name/Title:__________________________


                                   TELEKEY FINANCING CORPORATION

                                   By:__________________________________
                                   Name/Title:__________________________


                                   EXTL INVESTORS, LLC

                                   By:__________________________________
                                   Name/Title:__________________________


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