EXHIBIT 4.18


                          DATED 13TH DAY OF MARCH 2001











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

                           THE GLOBAL SOURCES EMPLOYEE
                         EQUITY COMPENSATION PLAN NO. IV
                             (THE SHARE GRANT PLAN)
                   ------------------------------------------












                            Appleby Spurling & Kempe
                                   Cedar House
                                 41 Cedar Avenue
                                 Hamilton HM 12




<PAGE>


                                TABLE OF CONTENTS
No.          Section                                                      Page
------------ ----------------------------------------------------------- ------

1.         Name of the Plan...............................................2

2.         Purpose of the Plan............................................2

3.         Shares Subject to the Plan.....................................2

4.         Eligible Persons...............................................2

5.         Non-transferability............................................2

6.         Adjustments....................................................3

7.         Vesting of the Shares..........................................3

8.         Plan Duration..................................................4

9.         Administration.................................................4

10.        Terminating Transactions.......................................5

11.        Government Regulations.........................................5

12.        Costs and Expenses.............................................5

13.        Amendment or Termination of the Plan...........................6

14.        Effective Date of the Plan.....................................6

15.        Limitation of Liability........................................6

16.        Governing Law and Jurisdiction.................................6

SCHEDULE 1 ...............................................................8

SCHEDULE 2 ...............................................................9


<PAGE>


                           THE GLOBAL SOURCES EMPLOYEE
                         EQUITY COMPENSATION PLAN NO. IV


1.   Name of the Plan

          This Employee Equity Compensation Plan shall be known as The Global
          Sources Employee Equity Compensation Plan No. IV, otherwise the Share
          Grant Plan.

2.   Purpose of the Plan

          The purpose of the Global Sources Employee Equity Compensation Plan
          No. IV (the "Plan") is to make awards of common shares of US$0.01 each
          (the "Shares") in Global Sources Ltd., a company incorporated in
          Bermuda, through the Global Sources Employee Equity Compensation Trust
          (the "Trust") to eligible persons as set out in Section 4.

3.   Shares Subject to the Plan

          The Shares held by Harrington Trust Limited as trustee of the Trust
          dated 30 December 1999 (the "Trustee") shall be eligible for issuance
          by the Trustee pursuant to the Plan. A plan committee (the "Plan
          Committee") is constituted under the Trust and appointed by Trade
          Media Holdings Ltd. (the "Company") to determine the allocation of
          shares and other benefits to the Grantees.

4.   Eligible Persons

          The persons eligible to be awarded Shares under the Plan (a "Grantee"
          and collectively the "Grantees") are any persons employed by the
          Company, including Directors of the Company, or by its parent (if
          any), or any of its subsidiaries or its affiliates on a salaried basis
          or any consultant or advisor to, or independent contractor of the
          Company, its parent (if any), or any of its subsidiaries or its
          affiliates ("eligibly employed") on or after the date hereof. Grantees
          shall be determined by resolution of the Board of Directors of the
          Company, whose decision shall be final. Shares which may be awarded to
          a Grantee shall be determined by the Plan Committee at the time of the
          award.

5.   Non-transferability

          Any Shares awarded under the Plan shall be non-transferable except in
          accordance with Section 7 hereof and with the terms of Schedules 1 and
          2 respectively.

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<PAGE>




6.   Adjustments

          If the outstanding Shares then subject to the Plan are changed into or
          exchanged for a different number or kind of shares or securities, as a
          result of one or more reorganisations, recapitalisations, stock
          splits, reverse stock splits, stock dividends and the like,
          appropriate adjustments shall be made in the number and/or type of
          Shares or Securities as shall be directed by the Plan Committee. Any
          such adjustment in outstanding Shares will be made in order to
          preserve, but not to increase or decrease, the benefits to the
          Grantees existing immediately prior to the event giving rise to such
          adjustment.

7.   Vesting of the Shares

          Each Share awarded under the Plan shall vest in the Grantee as set in
          Schedule 2, subject to the following:

          (a)  In the case of every Share awarded hereunder:

               (i)  if a Grantee ceases to be eligibly employed because of the
                    Grantee's discharge for "cause", as hereinafter defined, any
                    Share which has not vested is forfeited with such cessation
                    of employment;

               (ii) if a Grantee ceases to be eligibly employed before all the
                    Shares are vested in accordance with Schedule 2 because of
                    the Grantee's resignation, which shall include retirement
                    other than as well as at "normal retirement", as hereinafter
                    defined, the Grantee shall receive the pro-rated portion of
                    the Shares (if any) as would be vested in accordance with
                    Schedule 2 and as are available (if at all) at the next
                    vesting date following the resignation of the Grantee,
                    subject always to the discretion of the Plan Committee to
                    direct otherwise, whose decision shall be final;

               (iii) if a Grantee shall die before all the Shares are vested in
                    accordance with Schedule 2 the person or persons to whom the
                    Grantee's rights to the Shares shall have lawfully passed
                    whether by will, by the applicable laws of succession or
                    otherwise shall receive the pro-rated portion of the Shares
                    (if any) as would be vested in accordance with Schedule 2
                    and as are available (if at all) at the next vesting date;

               (iv) if a Grantee shall become disabled while eligibly employed
                    but before all the Shares are vested the Grantee's rights to
                    the Shares which have not vested are subject to the
                    discretion of the Plan Committee whose decision shall be
                    final;


                                      -3-
<PAGE>

               (v)  "cause" shall mean conduct, as determined by the Board,
                    involving one or more of the following: the commission of an
                    act of theft, embezzlement, fraud, dishonesty, or moral
                    turpitude, the deliberate disregard of the rules of the
                    Company which resulted in or on the Board's determination
                    may result in loss, damage or injury to the Company, the
                    unauthorised disclosure of any trade secret or confidential
                    information of the Company, the commission of an act which
                    constitutes unfair competition with the Company, the failure
                    to perform a duty as assigned or within the time period
                    assigned or the negligent performance of duties. In the
                    event that the Grantee does not accept the determination of
                    the Company, the matter will be decided in accordance with
                    Bermuda law and the vesting of the Shares will be suspended
                    pending resolution by the Bermuda Courts;

               (vi) "normal retirement" shall mean retirement from active
                    employment by the person eligibly employed on or after the
                    normal retirement date specified in the applicable pension
                    plan relating to the person eligibly employed or if there is
                    no such pension plan, age 65.

          (b)  Until Shares are vested the Grantee shall not receive dividends
               thereon or have any voting rights.

8.   Plan Duration

          Shares may not be awarded more than ten years after the effective date
          of the Plan.

9.   Administration

          The Plan shall be managed and administered by the Trustee subject to
          the directions of the Plan Committee as provided under the Trust.

          The interpretation and construction by the Trustee of any provisions
          of the Plan or of any benefit granted hereunder shall be final and
          binding upon Grantees and their respective successors, unless
          otherwise determined by the Company, in which case such determination
          of the Company shall be final and binding. Neither the Trustee nor the
          Company shall be liable for any action taken, or determination made,
          in good faith.

          The Trustee or the Company may, from time to time, adopt rules and
          regulations for carrying out the Plan and, subject to the provisions
          of the Plan, may issue a certificate in the form annexed to the Plan
          or prescribe the form or forms of the instruments evidencing Shares
          awarded under the Plan.

          Subject to the provisions of the Plan and to the directions of the
          Plan Committee, the Trustee shall have full and final authority in its
          discretion to select the persons


                                      -4-
<PAGE>

          to be awarded Shares, to determine the number of Shares to be awarded,
          the terms of award, including any vesting provisions, and such other
          terms and provisions thereof as it may authorise at the time when each
          Share is awarded, each of which terms and provisions may be different
          for each award. The Trustee, with the consent of the Plan Committee,
          may amend the terms of any existing award to accelerate the time or
          times at which Shares awarded under the Plan, or any part thereof,
          shall become vested, or in any other respect which shall not adversely
          affect the rights of the holder of such award of Shares.

          The Company may delegate any of its powers, rights, duties and
          responsibilities under the Plan to the Plan Committee who may
          discharge same with the authority and in the place and stead of the
          Company.

10.  Terminating Transactions

          Upon the occurrence of a "Terminating Transaction", as hereinafter
          defined, the Plan shall terminate. Upon the happening of a Terminating
          Transaction, the Shares which have not vested shall ipso facto become
          vested and the Trustee shall, on the twentieth business day after the
          Terminating Transaction shall first have come to the notice of the
          Company, or on such earlier date as the Trustee may in its discretion
          determine, make payment in consideration therefor of an amount equal
          to the market value of such Shares on the date of such Terminating
          Transaction (such amount not to be less than zero), such payment to be
          made by bank draft.

          "Terminating Transaction" shall mean such transaction resulting in the
          termination or substantial termination of the Company or the takeover
          or change of control of the Company as the Plan Committee shall in its
          absolute discretion determine.

11.  Government Regulations

          The Trustee shall not issue any Shares unless and until all licences,
          permissions and authorisations required to be granted by the
          Government of Bermuda, or by any authority or agency thereof, shall
          have been duly received.

12.  Costs and Expenses

          All costs and expenses with respect to the adoption of the Plan and in
          connection with the awarding of Shares shall be borne by the Company;
          provided, however, that except as otherwise specifically provided in
          the Plan or in any agreement between the Company and a Grantee, the
          Company shall not be obliged to pay any costs or expenses (including
          legal fees) incurred by any Grantee in connection with any Shares held
          or transferred by any Grantee.

                                      -5-
<PAGE>

13.  Amendment or Termination of the Plan

          The Company by resolution of the Board of Directors may alter, amend,
          suspend or terminate the Plan; however, no such action shall deprive
          the Grantee, without his or her consent, of any benefit or any of the
          rights thereunder awarded to the Grantee pursuant to the Plan.

          No amendment of this Plan shall increase the duties and
          responsibilities of the Trustee without its consent.

14.  Effective Date of the Plan

          The effective date of the Plan shall be that set out at the end of the
          Plan.

15.  Limitation of Liability

          No member of the Board or the Plan Committee, or any officer or
          employee of the Company acting on behalf of the Board or the Plan
          Committee, shall be personally liable for any action, determination or
          interpretation taken or made in good faith with respect to the Plan,
          and all members of the Board or the Committee and each and any officer
          or employee of the Company acting on their behalf shall, to the extent
          permitted by law, be fully indemnified and protected by the Company in
          respect of any such action, determination or interpretation.

16.  Governing Law and Jurisdiction

          This Plan shall be governed by and interpreted and construed in
          accordance with the laws of Bermuda and the Company and each Grantee
          hereby irrevocably submits to the exclusive jurisdiction of the courts
          of Bermuda.


                                      -6-
<PAGE>


          THIS DOCUMENT IS IMPORTANT AND SHOULD BE KEPT IN A SAFE PLACE


                               GLOBAL SOURCES LTD.


                             SHARE AWARD CERTIFICATE


           THE GLOBAL SOURCES EMPLOYEE EQUITY COMPENSATION PLAN NO. IV


THIS IS TO CERTIFY that, on the date shown below, a grant of Shares was awarded
to the Grantee named below, subject to the provisions of the above-mentioned
Plan, as amended from time to time and to the Rules made pursuant thereto for
the time being in force, to receive the number of common shares of US$0.01 each
in the capital of Global Sources Ltd. specified below.


Grantee: Name:
                                    -------------------------------------------
         Address:
                                    -------------------------------------------

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

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

Date of Award:
                                    -------------------------------------------

Vesting Dates and amounts:
                                    -------------------------------------------

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

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

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

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


Number of Shares:                   _____________


                                    For and on behalf of the Trustee


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



                                      -7-
<PAGE>

                                   SCHEDULE 1


Upon the awarding of Shares to the Grantee, such Shares shall not vest in the
Grantee but shall be held by the Trustee for the Grantee subject to the
following provisions and in accordance with the provisions of Schedule 2:

1.   The Grantee can direct the Trustee to transfer the Shares to the Grantee or
     to such person as the Grantee directs.

2.   The maximum number of Shares that may be issued to any individual any
     calendar year shall not exceed 25% of the aggregate number of Shares to be
     issued under the Plan.




                                      -8-
<PAGE>



                                   SCHEDULE 2

<TABLE>
<CAPTION>
Shares will vest over five years in accordance with the Schedule set out below.

----------------------------------------------------------------------------------------------------------------------
                      11 year after       2 years after         3 years after        4 years after      5 years after
                        Award Date          Award Date            Award Date          Award Date         Award Date
----------------------------------------------------------------------------------------------------------------------
<S>                        <C>            <C>                    <C>                  <C>                <C>
 Percentage of the         10%            1 An additional         An additional        An additional%    An additional
 Award which vests                             15%                   15%                 220%               40%
----------------------------------------------------------------------------------------------------------------------
</TABLE>


Where the percentage of the award which vests will give rise to the vesting of
part shares, the portion shall be rounded up to the nearest whole share.

The rights to Shares acquired by a Grantee under the Plan are not transferable
until the Shares are vested, except in accordance with 7(a)(iii).


                                      -9-
<PAGE>


IN WITNESS WHEREOF the Company has caused its common seal to be hereunto affixed
in the presence of its duly authorised officers as of the 13th day of March
2001.


The COMMON SEAL of                                   )
TRADE MEDIA HOLDINGS LTD.                            )
was hereunto affixed in the presence of:             )




-------------------------------
DIRECTOR




-------------------------------
DIRECTOR/SECRETARY




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