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                                                                   Exhibit 10.11


                              EMPLOYMENT CONTRACT


THIS AGREEMENT is made the 19th day of August 1997 BETWEEN CAYMAN WATER COMPANY
LIMITED, a Cayman Islands company having its registered office at Trafalgar
Place, West Bay Road, P.O. Box 1114, George Town, Grand Cayman, B.W.I. ("the
Company")

AND

PETER D. RIBBINS of P.O. Box 1114, George Town, Grand Cayman, B.W.I. ("The
President")

IT IS AGREED as follows:-

Employment

1        The President is engaged as President and Chief Operating Officer ("the
         Capacities") of the Company for three (3) years commencing on the 19 of
         August 1997 but subject to the extension provisions set out in clause
         19 and subject to the termination provisions set out in clauses 16 and
         17.

Remuneration

2        The President's salary is fixed until 31st December, 1997 at CI$
         91,774.56 per annum payable monthly in arrears, less deductions (other
         than for Medical Insurance) and other payments which the Company is by
         law entitled or required to deduct from an employee's remuneration.

3        The President's salary will be reviewed as of each January 1st by
         the Company's Board of Directors ("the Board") who may grant an
         increase but shall not reduce the Presidents salary below the level set
         out in Clause 2 hereof.

4         Further, for each completed financial year, beginning with the
          financial year 1997, during which the President serves in the
          Capacities, not later than 28th. February following the end of each
          financial year, the President will be paid a bonus of:-

         (a)      2.5% of the net profits of the Company calculated before
                  charging this bonus and before charging dividends or crediting
                  any amount accruing from the re-valuation of the Company's
                  assets, plus

         (b)      5% of the amount by which the net profits of the Company,
                  determined as aforesaid, for that financial year exceed the
                  highest annual net profit determined in the same manner earned
                  by the Company in any prior financial year.

5        Further, subject to any approvals of Government which may be necessary
         at the time at which the option is exercised, for each of the financial
         years ending after 31st December, 1996, during which the President
         serves for the full year in the capacities, the President shall be
         granted an option to purchase at a price of US$2.50 per share payable
         in cash in full on exercise of the option the lesser of:_

         (a)      20,000 Ordinary shares of the Company, or


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         (b)      that number of Ordinary shares which, when added to the then
                  existing number of Ordinary shares which the President then
                  beneficially owns will equal 6% of all Ordinary shares then
                  issued by the Company

6        (1)      The periods for exercise of the options to purchase shares in
                  the Company which have already vested under the President's
                  previous employment contracts with the Company in respect of
                  the years ended 28th February, 1995 and 1996 and the financial
                  year ended 31 December 1996, expire at the close of the
                  Company's business on the ninetieth day after the date of the
                  Auditors Report on the Financial Statements for the year
                  ending 31st December, 1998

         (2)      the options granted pursuant to Clause 5 shall be exercisable
                  by the President as follows :-

                  (a)      Options vested in respect of the financial years
                           ending 31st December, 1997 and 1998 may be
                           exercised at any time after they vest and before the
                           close of the Company's business on the ninetieth day
                           after the date of the Auditors Report on the
                           Financial Statements for the year ending 31st
                           December, 1998.

                  (b)      Options vested in respect of the financial year ended
                           31st December, 1999 and each financial year
                           thereafter may be exercised at any time after they
                           vest and before the close of the Company's business
                           on the day before the third anniversary of the date
                           of the Auditors Report on the Financial Statements
                           for that financial year.

Area

7        The President's work will be performed mainly in West Bay, Grand
         Cayman. The Company reserves the right to transfer the President to any
         other place of business which it may establish in the Cayman Islands.

Responsibilities

8        The President must devote substantially the whole of his time to the
         Company's business and must use his best endeavours to promote the
         Company's interest and welfare. Except where such information is a
         matter of public record or when required to do so by law he must not
         either before or after this Agreement ends disclose to any person any
         information relating to the Company or its customers or any
         confidential information of which he becomes possessed while acting in
         the Capacities.

9        The President must perform the duties commonly performed by a chief
         operating officer and also the duties reasonably required of and
         assigned to him in his position as President and must discharge his
         duties in accordance with the directions of the Board. The President
         must perform his duties under this Agreement during normal business
         hours from Mondays to Fridays inclusive (save on bank holidays) but he
         accepts that his duties, which include travelling on the Company's
         business both within the Cayman Islands and abroad, may from time to
         time require work to be undertaken on Saturdays, Sundays and bank and
         public holidays. The President must report to the Chairman of the
         Board, diligently follow and implement all management policies and
         decisions which the Board communicates to him, prepare and forward in a
         timely manner all reports and accountings the Board requests and
         generally be responsible for the effective operation of the Company in
         accordance with pre-agreed financial and operating budgets. The
         President will not directly or indirectly engage in any activities or
         work which are deemed by the Board to be detrimental to the best
         interests of the Company. Provided however the Company consents to the
         President's



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continued involvement in the following activities:-

                  (a)      share holder/director - HW Holdings Ltd.

                  (b)      share holder/director - Eats Limited

                  (c)      share holder/director - Psgetti's Limited

                  (d)      share holder/director - FCM Ltd:-

10       In case of inability to work due to illness or injury, the President
         must notify the Company immediately and produce a medical certificate
         for any absence longer than ten working days. The Company may have the
         President examined by a doctor approved by it. The President agrees to
         submit to any medical examination which the Company requires.

11       The President will be entitled to up to ten (10) days sick leave per
         year without a medical certificate.

Holidays

12       The President is entitled during every twelve (12) month period of
         employment to the following holidays during which his remuneration will
         continue to be payable:

         (a)      all public holidays in the Cayman Islands, and

         (b)      four (4) weeks' vacation at a time to be approved by the
                  Chairman of the Board.

Reimbursement of Expenses

13       All expenses for which the President claims reimbursement must be
         within pre-approved budgets. Subject to this, the Company must
         reimburse the President for the cost of entertaining the Company's
         customers and travelling on the Company's business on the production of
         the necessary vouchers or on the President's proving to the Company's
         satisfaction the amount that he has spent for those purposes, even
         though he is unable to produce vouchers.

Non-Solicitation

14       The President must not at any time while he is acting in the Capacities
         or afterwards either on his own account or for any other person, firm
         or company solicit, interfere with or endeavour to entice away from the
         Company any person, firm or company who at any time during or at the
         date when his employment ends were customers of or in the habit of
         dealing with the Company.

Company Documents

15       All books, records, notes, files, memoranda, reports, customer lists
         and other documents, and all copies of them relating to the Company's
         business which the President keeps, prepares or conceives or which
         become known to him or which are delivered or disclosed to or by any
         means come into his possession, and all the Company's property and
         equipment are and will remain the Company's sole and exclusive
         property. If the President's employment is terminated for any reason
         whether voluntarily or involuntarily, or if the Company at any time
         requests, he must promptly deliver to the Company the originals and all
         copies of all relevant documents that are in his possession, custody or
         control, and any other property belonging to the Company.



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Termination

16       This Agreement will end and, except to the extent previously accrued,
         all rights and obligations under it of the Company and the President
         shall cease if any of the following events occurs:-

         (a.)     The President dies.

         (b.)     The President is adjudicated bankrupt or makes any composition
                  with his creditors.

         (c.)     The President gives six (6) months written notice to the
                  Company to terminate this Agreement

17       The Company may by notice end this Agreement with immediate effect if:-

         (a.)     The President conducts himself in a manner which would justify
                  immediate dismissal in accordance with the Labour Law

         (b.)     through physical or mental illness the President is unable to
                  discharge his duties for sixty (60) successive days, as to
                  which a certificate by any doctor appointed by the Company
                  shall be conclusive.

         (c)      The Company gives written notice to the President and pays to
                  him a sum equal to twice the President's annual salary as
                  described in clause 2 or as increased in accordance with
                  clause 3, for the year in which such termination takes place.

18       In the event that the Company terminates this agreement in accordance
         with clause 17 (c) hereof:-

         (a)      any unvested options to purchase shares in the Company, as
                  described in clause 5, in respect of the financial year in
                  which the termination takes place shall automatically vest on
                  a pro rata basis proportional to the ratio which the period of
                  employment up to the date of termination bears to that
                  calendar year.

         (b)      the Company shall remain obliged to keep all benefits,
                  including but not limited to medical insurance and pension
                  contributions, to which the President was entitled as at the
                  date of his termination paid and available to the President
                  for a period of two (2) years from the date of termination.

Extension

19       In the absence of a written agreement to the contrary, on 1st. August
         of each year, the term of this Agreement shall be automatically
         extended upon the same terms by a period of one year.

Notices

20       Any notice to be served under this Agreement must be in writing and
         will be deemed duly served if in the case of one addressed to the
         Company it is sent by registered post or left at the Company's
         registered office, or in the case of one sent to the President it is
         handed to him personally or is delivered to his last known residential
         address in the Cayman Islands.



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         A notice sent by post will be deemed to be served on the third day
         following the date on which it is posted.

Previous Agreements Superseded

21.      This Agreement supersedes all prior contracts and understandings
         between the parties and may not be changed or terminated orally, and no
         change, termination or attempted waiver of any of its provisions will
         be binding unless in writing and signed by the party against whom it is
         sought to be enforced.

Clause Headings

22.      The clause headings are included for convenience only and have no legal
         effect.

Applicable Law and Jurisdiction

23.      This Agreement will be construed and the legal relations between the
         parties determined in accordance with the laws of the Cayman Islands
         and the parties agree to submit to the jurisdiction of the Cayman
         Islands Courts. Whenever possible, each provision of this Agreement
         will be interpreted in such a manner as to be effective and valid, but
         if any provision of this Agreement or the application of it is
         prohibited or held to be invalid, that prohibition or invalidity will
         not affect any other provision, or the application of any other
         provision which can be given effect without the invalid provision or
         application, and to this end the provisions of this Agreement are
         declared to be severable.


EXECUTED by and on behalf of                CAYMAN WATER COMPANY
CAYMAN WATER COMPANY LIMITED                LIMITED
by
in the presence of




/s/  [illegible]                            Per: /s/ Raymond Whittaker
-----------------------------------              -------------------------------
Witness

EXECUTED by PETER DANIEL RIBBINS
in the presence of:-



/s/ Tracy Beitz                             /s/ Peter Daniel Ribbins
-----------------------------------         ------------------------------------
Witness                                     PETER DANIEL RIBBINS