AMENDED AND RESTATED

                          CERTIFICATE OF INCORPORATION

                                       OF

                               ACXIOM CORPORATION

 

 

         Acxiom Corporation (the "Corporation),  acting pursuant to Sections 245

and 242 of the General  Corporation Law of the State of Delaware,  hereby adopts

the following Amended and Restated  Certificate of Incorporation.  The following

Amended and Restated Certificate of Incorporation amends, restates,  integrates,

and  supersedes,  in its  entirety,  the Amended  and  Restated  Certificate  of

Incorporation of Acxiom Corporation originally filed with the Delaware Secretary

of State on August 21,  1995.  The original  Certificate  of  Incorporation  was

incorporated under the name of CCX NETWORK, INC. on September 28, 1983.

 

         FIRST:  NAME.  The name of the Corporation is:

 

                               ACXIOM CORPORATION

 

         SECOND:  REGISTERED AGENT AND OFFICE.  The address of the Corporation's

registered  office in the State of Delaware is Corporation  Trust  Center,  1209

Orange  Street,  Wilmington,  Delaware  19801,  in the County of Newcastle.  The

name of the Corporation's  registered agent at such  address is The  Corporation

Trust Company.

 

         THIRD:  PURPOSES.  The purpose or purposes for which the Corporation is

organized are:

 

         (a) To own,  operate,  sell,  lease  and  otherwise  deal in goods  and

services  related  to data  processing,  letter  services,  electronic  computer

operations,  business machines, forms and procedures;  to buy, rent, sell, lease

and otherwise deal in computers.

 

         (b) To borrow money in such amount,  for such times and upon such terms

and conditions as is deemed wise and expedient; from time to time to draw, make,

accept, endorse,  discount, execute and issue promissory notes, drafts, bills of

exchange,  warrants,  bonds,  debentures and other  negotiable and  transferable

instruments,  and evidences, as well as to secure the same by mortgages, pledge,

deed of trust, or otherwise.

 

         (c)  To  have  one  or  more  offices,  to  carry  on all or any of its

operations  and  business,  and  without  restriction  or limit as to  amount to

purchase or otherwise  acquire,  hold, own,  mortgage,  sell,  lease,  convey or

otherwise dispose of real and personal property of every class and description.

 

         (d) To enter  into,  make and perform  contracts  of any and every kind

with any person, firm, corporation, association, partnership or body politic.

 

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         (e) To own,  purchase,  lease,  or  otherwise  acquire  lands  and real

estate,  and to sell and develop lands and real estate, and to equip and operate

buildings and  structures  of every kind and  character  for the  manufacturing,

storing and protection of goods and properties of every character and kind.

 

         (f) To  conduct,  promote or engage in any lawful act or  activity  for

which  corporations  may be organized  under the General  Corporation Law of the

State of Delaware.

 

         FOURTH:  AUTHORIZED  SHARES.  The total number of shares of stock which

the Corporation shall have authority to issue is:

 

                  Two hundred million (200,000,000) shares of Common Stock,  ten

                  cents ($.10) Par Value per common share.

 

                  One million  (1,000,000) shares of Preferred Stock, one dollar

                  ($1.00) Par Value per preferred  share. The Board of Directors

                  of the  Corporation  is authorized to provide for the issuance

                  of shares of Preferred  Stock in series and to establish  from

                  time to time the number of shares to be  included in each such

                  series and to fix the  designation,  powers,  preferences  and

                  rights   of  the   shares  of  each   such   series   and  the

                  qualifications, limitations and restrictions thereof.

 

         FIFTH:  DURATION.  The Corporation is to have perpetual existence.

 

         SIXTH:  DIRECTORS.

 

         (a) Number,  Election and Terms of  Directors.  The number of directors

shall be not less than three (3) nor more than fifteen (15)  persons.  The exact

number of directors of the  Corporation  shall be fixed from time to time by the

Board of Directors.  The directors  shall be classified with respect to the time

for which they  severally  hold office into three  classes,  as nearly  equal in

number as possible,  one class to hold office  initially  for a term expiring at

the annual  meeting of  stockholders  to be held in 1991,  another class to hold

office initially for a term expiring at the annual meeting of stockholders to be

held in 1992, and another class to hold office  initially for a term expiring at

the annual meeting of  stockholders to be held in 1993, with the members of each

class to hold office until their  successors are elected and qualified.  At each

annual meeting of the  stockholders  of the  Corporation,  the successors to the

class of directors  whose term expires at that meeting  shall be elected to hold

office for a term  expiring at the annual  meeting of  stockholders  held in the

third year following the year of their  election.  If the number of directors is

changed,  any increase or decrease shall be apportioned  among the classes so as

to maintain  the number of  directors in each class as nearly equal as possible,

but in no case shall a decrease in the number of  directors  shorten the term of

any incumbent director.

 

         (b)      Manner of Election.  Elections  of  directors  need  not be by

written ballot unless the Bylaws of the Corporation shall so provide.

 

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         (c) Stockholder Nomination of Director Candidates and Advance Notice of

Matters to Be Brought Before an Annual Meeting. Advance notice of nominations by

stockholders  of persons  for  election  to the Board of  Directors  and advance

notice of matters to be brought before an annual meeting by  shareholders  shall

be given in the manner provided in the Bylaws.

 

         (d)  Newly  Created   Directorships   and   Vacancies.   Newly  created

directorships  resulting  from any increase in the number of  directors  and any

vacancies  in  the  Board  of  Directors  resulting  from  death,   resignation,

disqualification,  removal  or  other  cause  shall  be  filled  solely  by  the

affirmative vote of a majority of the remaining  directors then in office,  even

though less than a quorum of the Board of  Directors.  Any  director  elected in

accordance  with the proceeding  sentence shall hold office for the remainder of

the full  term of the  class of  directors  in which  the new  directorship  was

created or the vacancy  occurred and until such director's  successor shall have

been elected and qualified.  No decrease in the number of directors constituting

the Board of Directors shall shorten the term of any incumbent director.

 

         (e) Removal of Directors.  No director  shall be removed from the Board

of  Directors  by action  of the  stockholders  of the  Corporation  during  his

appointed term other than for cause. For purposes hereof, cause shall mean final

conviction of a felony, unsound mind, adjudication of bankruptcy,  nonacceptance

of office, or conduct prejudicial to the interest of the Corporation.

 

         (f) Scope.  The  provisions  of this  Article  shall  apply only to the

holders of Common  Stock.  Accordingly,  this  Article  shall in no way limit or

restrict the authority of the Board of Directors to fix the designation,  power,

preferences  and  rights of shares of  Preferred  Stock and the  qualifications,

limitations and restrictions thereof.

 

         SEVENTH:  MEETINGS OF HOLDERS OF COMMON STOCK AND ACTION BY HOLDERS  OF

COMMON STOCK WITHOUT A MEETING.

 

         (a)      Place of Meetings.  Meetings of holders of Common Stock may be

held within or without the State of Delaware, as the Bylaws may provide.

 

         (b)      Special  Meetings.  Special  meetings of the holders of Common

Stock  may  be called  by such  person or  persons as  may be authorized  by the

Bylaws.

 

         (c) Stockholder Action. Any action required or permitted by the General

Corporation  Law of the State of Delaware to be taken at a meeting of holders of

Common  Stock may be taken  without a meeting if one or more  written  consents,

setting  forth the  action so taken,  shall be signed by all of the  holders  of

Common Stock  entitled to vote with respect to the subject matter  thereof.  The

consents signed under this provision,  taken together, shall have the same force

and effect as a unanimous vote of the holders of Common Stock.

 

         EIGHTH:  LOCATION OF BOOKS AND  RECORDS.  The books and  records of the

Corporation may be kept (subject to any  provision  contained  in the  statutes)

outside  the State of Delaware at such place or places as may be designated from

time to time by the Board of Directors in the Bylaws of the Corporation.

 

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         NINTH:  BYLAWS. The Board of Directors shall have power to make, alter,

amend and repeal the Bylaws,  except so far as Bylaws  adopted by the holders of

Common Stock shall  otherwise  provide.  Notwithstanding  the  foregoing,  Bylaw

provisions  relating to  informal  action by holders of Common  Stock  without a

meeting, nomination of director candidates by holders of Common Stock, notice of

matters to be brought before an annual  meeting by holders of Common Stock,  the

number,  election and terms of directors elected by holders of Common Stock, the

removal  of  directors  elected  by  holders  of Common  Stock,  the  filling of

vacancies  on the Board of  Directors  created by an  increase  in the number of

directors or by the death, resignation, removal or disqualification of directors

elected by the  holders of Common  Stock,  and the manner of calling and persons

authorized  to call  special  meetings  of holders of Common  Stock shall not be

altered,  amended or repealed, and no provisions inconsistent therewith shall be

adopted,  without (i) the approval of a majority of the Disinterested Directors,

as defined in  Article  ELEVENTH  hereof,  or (ii) the  affirmative  vote of the

holders of at least eighty percent (80%) of the votes entitled to be cast by the

holders of Common Stock.

 

         TENTH:  FAIR PRICE PROVISION.

 

         (a)      Vote Required for Certain Business Combinations.

 

                  1.       Higher Vote  for Certain  Business  Combinations.  In

         addition to any affirmative vote required  by law or  this Amended  and

         Restated   Certificate  of   Incorporation,  and  except  as  otherwise

         expressly provided in Section (b) of this Article,

 

                           (A) any merger or consolidation of the Corporation or

                  any   Subsidiary  (as   hereinafter   defined)  with  (i)  any

                  Interested  Stockholder (as  hereinafter  defined) or (ii) any

                  other person (whether or not itself an Interested Stockholder)

                  which is, or after such merger or  consolidation  would be, an

                  Affiliate   (as   hereinafter   defined)   of  an   Interested

                  Stockholder; or

 

                           (B) any  sale,  lease,  exchange,  mortgage,  pledge,

                  transfer or other  disposition (in one transaction or a series

                  of transactions) to or with any Interested  Stockholder or any

                  Affiliate of any  Interested  Stockholder of any assets of the

                  Corporation or any Subsidiary  having an aggregate Fair Market

                  Value of $10,000,000 or more; or

 

                           (C) the  issuance or transfer by the  Corporation  or

                  any   Subsidiary   (in  one   transaction   or  a  series   of

                  transactions)  of any  securities  of the  Corporation  or any

                  Subsidiary to any  Interested  Stockholder or any Affiliate of

                  any Interested Stockholder in exchange for cash, securities or

                  other property (or a combination  thereof) having an aggregate

                  Fair Market Value of $10,000,000 or more; or

 

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                           (D)  the adoption  of any plan  or  proposal  for the

                  liquidation  or dissolution of the Corporation  proposed by or

                  on behalf  of any  Interested  Stockholder or any Affiliate of

                  any Interested Stockholder; or

 

                           (E)  the  adoption  of any  plan  of  share  exchange

                  between the  Corporation or any Subsidiary with any Interested

                  Stockholder  or any other person which is, or after such share

                  exchange would be, an Affiliate of any Interested Stockholder;

                  or

 

                           (F) any reclassification of securities (including any

                  reverse stock split), or  recapitalization of the Corporation,

                  or any merger or  consolidation of the Corporation with any of

                  its Subsidiaries or any other transaction (whether or not with

                  or into or  otherwise  involving  an  Interested  Stockholder)

                  which has the effect,  directly or  indirectly,  of increasing

                  the proportionate share of the outstanding shares of any class

                  of Equity Security (as hereinafter defined) of the Corporation

                  or any Subsidiary (as hereinafter  defined) or the Corporation

                  or any Subsidiary which is directly or indirectly owned by any

                  Interested  Stockholder  or any  Affiliate  of any  Interested

                  Stockholder;

 

shall  require the  affirmative  vote of the holders of at least eighty  percent

(80%) of the votes  entitled  to be cast by the  holders of Common  Stock.  Such

affirmative vote shall be required  notwithstanding the fact that no vote may be

required,  or  that  a  lesser  percentage  may be  specified,  by law or in any

agreement with any national securities exchange or otherwise.

 

                  2.  Definition of "Business  Combination".  The term "Business

         Combination"  used in this Article shall mean any transaction  which is

         referred to in any one or more of clauses (A) through (F) of  Paragraph

         1 of this Section (a).

 

         (b) When Higher Vote is Not Required.  The provisions of Section (a) of

this Article shall not be applicable to any particular Business Combination, and

such  Business  Combination  shall  require  only  such  affirmative  vote as is

required by law and any other provision of this Amended and Restated Certificate

of Incorporation,  if all of the conditions specified in either of the following

paragraphs 1 and 2 are met:

 

                  1.       Approval  by  Disinterested  Directors.  The Business

         Combination shall have been approved by a majority of the Disinterested

         Directors (as hereinafter defined).

 

                  2.       Price  and  Procedure   Requirements.   All  of   the

         following conditions shall have been met:

 

                           (A) The  aggregate  amount  of the  cash and the Fair

                  Market  Value (as  hereinafter  defined) as of the date of the

                  consummation  of the  Business  Combination  of  consideration

                  other than cash to be received  per

 

 

<PAGE>

 

                  share by holders of Common Stock in such Business  Combination

                  shall be at least equal to the higher of the following:

 

                                    (i) (if  applicable)  the  highest per share

                           price (including any brokerage commissions,  transfer

                           taxes  and  soliciting  dealers'  fees)  paid  by the

                           Interested Stockholder for any shares of Common Stock

                           acquired  by  it  (a)  within  the  two-year   period

                           immediately prior to the first public announcement of

                           the terms of the proposed  Business  Combination (the

                           "Announcement  Date")  or (b) in the  transaction  in

                           which it became an Interested Stockholder,  whichever

                           is higher; and

 

                               (ii) the Fair  Market  Value  per share of Common

                           Stock  on the  Announcement  Date  or on the  date on

                           which the Interested Stockholder became an Interested

                           Stockholder  (such latter date is referred to in this

                           Article as the  "Determination  Date"),  whichever is

                           higher.

 

                           (B) The  aggregate  amount  of the  cash and the Fair

                  Market  Value  as of  the  date  of  the  consummation  of the

                  Business  Combination of  consideration  other than cash to be

                  received  per share by holders of shares of any other class of

                  outstanding  stock  shall be at least  equal to the highest of

                  the following (it being intended that the requirements of this

                  paragraph  2(B) shall be  required  to be met with  respect to

                  every  class  of  outstanding   stock,   whether  or  not  the

                  Interested Stockholder has previously acquired any shares of a

                  particular class of stock):

 

                                    (i) (if  applicable)  the  highest per share

                           price (including any brokerage commissions,  transfer

                           taxes  and  soliciting  dealers'  fees)  paid  by the

                           Interested  Stockholder  for any shares of such class

                           of  stock  acquired  by it (a)  within  the  two-year

                           period  immediately prior to the Announcement Date or

                           (b)  in  the   transaction  in  which  it  became  an

                           Interested Stockholder, whichever is higher;

 

                                    (ii)    (if    applicable)    the    highest

                           preferential amount per share to which the holders of

                           shares  of such  class of stock are  entitled  in the

                           event of any voluntary  liquidation,  dissolution  or

                           winding up of the Corporation; and

 

                                    (iii)  the Fair  Market  Value  per share of

                           such  class of stock on the  Announcement  Date or on

                           the Determination Date, whichever is higher.

 

<PAGE>

 

                           (C) The  consideration to be received by holders of a

                  particular class of outstanding stock (including Common Stock)

                  shall  be in  cash  or in the  same  form  as  the  Interested

                  Stockholder  has  previously  paid for shares of such class of

                  stock.  If the Interested  Stockholder  has paid for shares of

                  any class of stock with varying  forms of  consideration,  the

                  form of consideration  for such class of stock shall be either

                  cash or the form used to acquire the largest  number of shares

                  of such class of stock  previously  acquired  by it. The price

                  determined in accordance  with paragraph 2(A) and 2(B) of this

                  Section (b) shall be subject to appropriate  adjustment in the

                  event of any  stock  dividend,  stock  split,  combination  of

                  shares or similar event.

 

                           (D) After such  Interested  Stockholder has become an

                  Interested  Stockholder and prior to the  consummation of such

                  Business Combination:  (i) except as approved by a majority of

                  the Disinterested Directors,  there shall have been no failure

                  to  declare  and pay at the  regular  date  therefor  any full

                  quarterly   dividends  (whether  or  not  cumulative)  on  any

                  outstanding  stock having  preference over the Common Stock as

                  to dividends or upon  liquidation;  (ii) there shall have been

                  (a) no reduction  in the annual rate of dividends  paid on the

                  Common Stock  (except as necessary to reflect any  subdivision

                  of the Common Stock),  except as approved by a majority of the

                  Disinterested  Directors,  and (b) an  increase in such annual

                  rate of dividends as necessary to reflect any reclassification

                  (including   any  reverse  stock   split),   recapitalization,

                  reorganization or any similar transaction which has the effect

                  of  reducing  the number of  outstanding  shares of the Common

                  Stock,  unless the failure so to increase  such annual rate is

                  approved by a majority  of the  Disinterested  Directors;  and

                  (iii) such  Interested  Stockholder  shall have not become the

                  beneficial  owner of any  additional  shares of  Common  Stock

                  except  as  part  of the  transaction  which  results  in such

                  Interested Stockholder becoming an Interested Stockholder.

 

                           (E) After such  Interested  Stockholder has become an

                  Interested Stockholder,  such Interested Stockholder shall not

                  have  received the  benefit,  directly or  indirectly  (except

                  proportionately  as a  stockholder),  of any loans,  advances,

                  guarantees,  pledges or other financial  assistance or any tax

                  credits or other tax advantages provided by the Corporation or

                  any  Subsidiary  whether in  anticipation  of or in connection

                  with such Business Combination or otherwise.

 

                           (F) A proxy or information  statement  describing the

                  proposed   Business   Combination   and  complying   with  the

                  requirements  of  the  Securities  Exchange  Act of  1934,  as

                  amended,  and the rules  and  regulations  thereunder  (or any

                  subsequent   provisions   replacing   such   Act,   rules   or

                  regulations)  shall be mailed to  public  stockholders  of the

 

<PAGE>

 

                  Corporation at least 30 days prior to the consummation of such

                  Business Combination (whether or not such proxy or information

                  statement  is  required  to be mailed  pursuant to such Act or

                  subsequent provisions).

 

         (c)      Certain Definitions.  For the purpose of this Article:

 

                  1.       A  "person"  shall   mean   any   individual,   firm,

         corporation or other entity.

 

                  2.       "Interested Stockholder" shall mean any person (other

         than the Corporation or any Subsidiary) who or which:

 

                           (A)  is the beneficial owner, directly or indirectly,

                  of 5%  or  more of  the voting power of the outstanding Common

                  Stock; or

 

                           (B) is an  Affiliate  of the  Corporation  and at any

                  time within the two-year period  immediately prior to the date

                  in question was the beneficial owner,  directly or indirectly,

                  of 5% or more of the  voting  power  of the  then  outstanding

                  Common Stock; or

 

                           (C) is an assignee of or has  otherwise  succeeded to

                  any shares of Common  Stock  which were at any time within the

                  two-year  period  immediately  prior to the  date in  question

                  beneficially  owned  by any  Interested  Stockholder,  if such

                  assignment or succession  shall have occurred in the course of

                  a transaction or series of transactions not involving a public

                  offering  within the meaning of the Securities Act of 1933, as

                  amended.

 

                  3.       A person shall be a  "beneficial owner" of any Common

                  Stock:

 

                           (A) which  such  person  or  any  of  its  Affiliates

                  or  Associates  (as  hereinafter  defined)  beneficially  owns

                  directly or indirectly; or

 

                           (B) which  such  person or any of its  Affiliates  or

                  Associates has (i) the right to acquire (whether such right is

                  exercisable  immediately  or only after the  passage of time),

                  pursuant to any  agreement,  arrangement or  understanding  or

                  upon the  exercise  of  conversion  rights,  exchange  rights,

                  warrants or options,  or otherwise,  or (ii) the right to vote

                  pursuant to any agreement, arrangement or understanding; or

 

                           (C)  which  are  beneficially   owned,   directly  or

                  indirectly,  by any other person with which such person or any

                  of its Affiliates or Associates has any agreement, arrangement

                  or understanding for the purpose of acquiring, holding, voting

                  or disposing of any shares of Common Stock.

 

<PAGE>

 

                  4. For the  purpose  of  determining  whether  a person  is an

         Interested Stockholder pursuant to paragraph 2 of this Section (c), the

         number of shares of Common Stock deemed to be outstanding shall include

         shares deemed owned through  application of paragraph 3 of this Section

         (c) but shall not include any other shares of Common Stock which may be

         issuable pursuant to any agreement,  arrangement or  understanding,  or

         upon exercise of conversion rights, warrants or options, or otherwise.

 

                  5.  "Affiliate"  or  "Associate"  shall  have  the  respective

         meanings  ascribed to such terms in Rule 12b-2 of the General Rules and

         Regulations under the Securities  Exchange Act of 1934, as in effect on

         January 1, 1990.

 

                  6.  "Disinterested  Director" means any member of the Board of

         Directors who is unaffiliated with the Interested Stockholder and was a

         member of the Board of Directors  prior to the time that the Interested

         Stockholder  became an Interested  Stockholder,  and any successor of a

         Disinterested   Director  who  is  unaffiliated   with  the  Interested

         Stockholder and is recommended to succeed a Disinterested Director by a

         majority of Disinterested Directors then on the Board of Directors.

 

                  7.       "Equity  Security"  shall have the  meaning  ascribed

         to  such term  in  Section 3(A)(11)  of the  Securities Exchange Act of

         1934, as in effect on January 1, 1990.

 

                  8. "Fair Market  Value" means:  (A) in the case of stock,  the

         highest  closing  sale  price  during  the  30-day  period  immediately

         preceding  the  date in  question  of a  share  of  such  stock  on the

         Composite Tape for New York Stock  Exchange-Listed  Stocks, or, if such

         stock is not  quoted  on the  Composite  Tape,  on the New  York  Stock

         Exchange,  or, if such  stock is not  listed on such  Exchange,  on the

         principal  United  States  securities  exchange  registered  under  the

         Securities  Exchange  Act of 1934,  as amended,  on which such stock is

         listed,  or,  if such  stock is not  listed on any such  exchange,  the

         highest  closing bid  quotation  with  respect to a share of such stock

         during the 30-day period preceding the date in question on the National

         Association of Securities Dealers,  Inc. Automated Quotations System or

         any system then in use, or if no such  quotations  are  available,  the

         fair  market  value on the date in question of a share of such stock as

         determined by a majority of the Disinterested  Directors in good faith;

         and (B) in the case of  property  other  than cash or  stock,  the fair

         market value of such  property on the date in question as determined by

         a majority of the Disinterested Directors in good faith.

 

                  9.  "Subsidiary"  means any corporation of which a majority of

         any class of Equity Security is owned,  directly or indirectly,  by the

         Corporation; provided, however, that for the purposes of the definition

         of Interested Stockholder set forth in paragraph 2 of this Section (c),

         the term "Subsidiary"

 

 

<PAGE>

 

         shall mean  only a  corporation of  which a  majority of each  class of

         Equity Security is owned,  directly or indirectly,  by the Corporation.

 

                  10.  In the  event of any  Business  Combination  in which the

         Corporation  survives,  the phrase "consideration other than cash to be

         received"  as used in  paragraphs  2(A) and (B) of section  (b) of this

         Article  EIGHTH  shall  include the shares of Common  Stock  and/or the

         shares of any other class of outstanding  stock retained by the holders

         of such shares.

 

         (d) Powers of the Board of Directors. A majority of the Directors shall

have the power and duty to determine  for the purposes of this  Article,  on the

basis of  information  known to them after  reasonable  inquiry,  (1)  whether a

person is an  Interested  Stockholder,  (2) the number of shares of Common Stock

beneficially  owned by any  person,  (3)  whether  a person is an  Affiliate  or

Associate  of  another,  (4)  whether  the assets  which are the  subject of any

Business  Combination have, or the consideration to be received for the issuance

or transfer of securities by the  Corporation  or any Subsidiary in any Business

Combination  has, an  aggregate  Fair Market  Value of  $10,000,000  or more.  A

majority of the  Directors  shall have the further power to interpret all of the

terms and provisions of this Article.

 

         (e) No Effect on  Fiduciary  Obligations  of  Interested  Shareholders.

Nothing  contained  in this Article shall be construed to relieve any Interested

Stockholder from any fiduciary obligation imposed by law.

 

         ELEVENTH:  STOCKHOLDER  VOTE ON  EXTRAORDINARY  MATTERS.  Any merger or

consolidation  of the  Corporation  with any  other  person,  any  sale,  lease,

exchange,  mortgage, pledge, transfer or other disposition by the Corporation of

its property or assets, and any dissolution or liquidation of the Corporation or

revocation  thereof  that the General  Corporation  Law of the State of Delaware

requires  be  approved  by the  holders of Common  Stock must be approved by the

affirmative vote of the holders of at least sixty-six and two-thirds percent (66

2/3%) of the votes entitled to be cast by the holders of Common Stock.

 

         TWELFTH:  LIMITATION OF DIRECTOR LIABILITY.

 

         (a) To the fullest extent  permitted by the General  Corporation Law of

the  State of  Delaware,  as the same  exists or may  hereafter  be  amended,  a

director  of the  Corporation  shall  not be liable  to the  Corporation  or its

stockholders for monetary damages for breach of fiduciary duty as a director.

 

         (b) Any  repeal  or  modification  of the  foregoing  paragraph  by the

stockholders  of the  Corporation  shall  not  adversely  affect  any  right  or

protection of a director of the Corporation  existing at the time of such repeal

or modification.

 

         THIRTEENTH:  INDEMNIFICATION OF DIRECTORS,  OFFICERS AND EMPLOYEES. Any

person who was or is a party or is threatened  to be a party to any  threatened,

pending or  completed  action,  suit or  proceeding,  whether  civil,  criminal,

 

<PAGE>

 

administrative or investigative (including any action or suit by or in the right

of the  Corporation  to procure a  judgment  in its favor) by reason of the fact

that he is or was a director,  officer, employee or agent of the Corporation, or

is or was serving at the  request of the  Corporation  as a  director,  officer,

employee or agent of another Corporation,  partnership,  joint venture, trust or

other  enterprise,  shall be indemnified by the  corporation,  if, as and to the

extent  authorized  by the  laws of the  State  of  Delaware,  against  expenses

(including  the  attorneys'  fees),   judgments,   fines  and  amounts  paid  in

settlement,  actually and  reasonably  incurred by him, in  connection  with the

defense or settlement of such action,  suit,  investigation  or proceeding.  The

indemnification  expressly  provided by statute in a specific  case shall not be

deemed  exclusive  of any other  rights to which any person  indemnified  may be

entitled  under any lawful  agreement,  vote of  stockholders  or  disinterested

directors or  otherwise,  both as to action in his  official  capacity and as to

action in another capacity while holding such office, and shall continue as to a

person who has ceased to be a  director,  officer,  employee  or agent and shall

inure to the  benefit  of the  heirs,  executors  and  administrators  of such a

person.

 

         FOURTEENTH:  AMENDMENTS.  From  time  to  time  any  of the  provisions

of  this  Amended  and  Restated  Certificate  of Incorporation  may be amended,

altered or repealed, and other provisions authorized by the laws of the State of

Delaware at the time in force may be added or  inserted by the  affirmative vote

of the holders of at least a majority  of the votes  entitled  to be cast by the

holders of the  outstanding  stock of the  Corporation entitled to vote thereon;

provided,  however,  the  affirmative  vote of  the holders  of at  least eighty

percent (80%) of the votes  entitled  to be cast by the holders of Common  Stock

shall be  required to alter, amend,  repeal, or adopt any provision inconsistent

with Articles SIXTH, SEVENTH, NINTH, TENTH and FOURTEENTH hereof.

 

<PAGE>

 

         The above Amended and Restated Certificate of Incorporation was adopted

and  approved by the Board of Directors  of the  Corporation  on the 29th day of

May, 1996 and by the stockholders of the  Corporation,  in the manner and by the

vote  prescribed by Section 242 of the General  Corporation  Law of the State of

Delaware, this 24th day of July, 1996.

 

 

                                         /s/ Charles D. Morgan, Jr.

                                       ------------------------------------

                                       Charles D. Morgan, Jr.,

                                       Chairman of the Board, CEO and President

ATTEST:

 

 /s/ Catherine L. Hughes

- ---------------------------------

Catherine L. Hughes, Secretary

 

[As Filed: 08-13-1996]