EXHIBIT 10-1

REVOLVING DEMAND NOTE

$1,500,000.000              October 20, 1999              Boston, Massachusetts

     ON DEMAND, for value received, the undersigned,  ASA International Ltd. and
ASA International  Ventures, Inc. (hereinafter,  collectively,  the "Borrower"),
jointly and severally,  promise to pay to Eastern Bank ("Bank"),  or order,  the
principal sum of One Million Five Hundred Thousand  ($1,500,000.00)  Dollars, or
if less,  such amount as may be the  aggregate  unpaid  principal  amount of all
loans or advances made by the Bank to the Borrower,  together with interest from
the date of the Bank's  first  advance to the Borrower on the  aggregate  unpaid
principal balance from time to time outstanding.

     The aggregate  principal balance  outstanding shall bear interest (computed
on the  basis of the  actual  number  of days  elapsed  over a year of 360 days)
thereon at a per annum rate equal to  one-half  of one (.50%)  percent per annum
below the rate from time to time announced and made effective by the Bank as its
Base Rate,  payable  monthly in arrears on the first business day of each month,
commencing  on the first of such dates next  succeeding  the date  hereof.  Each
change in the rate of interest  payable hereon shall be effective on the date of
any change in such Base Rate.

     The term "Base Rate" as used  herein and in any  supplement  and  amendment
hereto shall mean the rate of interest  announced  from time to time by Bank, at
its head  office,  as its Base  Rate,  it being  understood  that such rate is a
reference rate and not  necessarily  the lowest rate of interest  charged by the
Bank.

     This Note is a revolving note and,  subject to the foregoing,  the Borrower
may, at its option, at any time prior to demand borrow, pay, prepay and reborrow
hereunder, all in accordance with the provisions hereof; provided, however, that
the principal balance outstanding shall at no time exceed the face amount of the
Note.

     This Note represents indebtedness for one or more loans made by the Bank to
the Borrower  pursuant to a Demand Loan and Security  Agreement  (All Assets) of
even date herewith (the  "Agreement") and the holder of this Note is entitled to
all of the benefits and rights of the Bank under the Agreement.

     In addition to the payment of  interest  as provided  above,  the  Borrower
shall,  from and after the date of demand for  payment of this Note,  pay to the
holder of this Note  interest,  payable on demand,  at a rate per annum of three
(3%)  percent  in excess  of the rate of  interest  then  being  charged  to the
Borrower.



                                                                              66
<PAGE>
     Any deposits or other sums at any time  credited by or due from the Bank to
the Borrower or any guarantor  hereof,  and any  securities or other property of
the Borrower or any such  guarantor,  in the  possession of the Bank, may at any
and all times be held and treated as security for the payment of the liabilities
hereunder; and the Bank may apply or set off such deposits or other sums, at any
time, and without notice to the Borrower or to any such  guarantor,  against any
of such  liabilities,  whether or not the same have matured,  and whether or not
other collateral is available to the Bank.

     No delay or  omission  on the part of the  holder in  exercising  any right
hereunder  shall operate as a waiver of such right or of any other right of such
holder, nor shall any delay,  omission or waiver on any one occasion be deemed a
bar to or waiver  of the same or any other  right on any  future  occasion.  The
Borrower  and every other maker and every  endorser or  guarantor  of this Note,
regardless of the time, order or place of signing,  waives presentment,  demand,
protest and notices of every kind and assents to any  extension or  postponement
of the time of payment or any other indulgence, to any substitution, exchange or
release of  collateral,  and to the  addition  or release of any other  party or
person primarily or secondarily liable.

     The Borrower  agrees to pay all costs of collection of the principal of and
interest on this Note;  including,  without  limitation,  reasonable  attorneys'
fees.

     This Note is secured pursuant to the terms of the Agreement.

     BORROWER  AND BANK EACH HEREBY  KNOWINGLY,  VOLUNTARILY  AND  INTENTIONALLY
WAIVES ANY RIGHT IT MAY HAVE OR HEREAFTER  HAVE TO A TRIAL BY JURY IN RESPECT OF
ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE. Borrower
hereby  certifies  that neither Bank nor any of its  representatives,  agents or
counsel has  represented,  expressly or  otherwise,  that Bank would not, in the
event of any such suit,  action or  proceeding,  seek to enforce  this waiver of
right to trial by jury. Borrower acknowledges that Bank has been induced to make
revolving  loans to Borrower  by,  among other  things,  this  waiver.  Borrower
acknowledges  that it has read the  provisions  of this Note and in  particular,
this section; has consulted legal counsel;  understands the right it is granting
in this  section  and is waiving in this  section in  particular;  and makes the
above waiver knowingly, voluntarily and intentionally.

     Borrower and Bank agree that any action or proceeding to enforce or arising
out of  this  Note  may  be  commenced  in any  court  of  the  Commonwealth  of
Massachusetts  sitting in the counties of Suffolk,  Norfolk or Middlesex,  or in
the District Court of the United States for the District of  Massachusetts,  and
Borrower  waives  personal  service of process  and  agrees  that a summons  and
complaint commencing an action or proceeding in any such court shall be properly
served and confer  personal  jurisdiction  if served by  registered or certified
mail to Borrower,  or as otherwise  provided by the laws of the  Commonwealth of
Massachusetts or the United States of America.

     All rights and  obligations  hereunder shall be governed by the laws of the
Commonwealth of Massachusetts, and this Note shall be deemed to be under seal.

WITNESS:                      ASA INTERNATIONAL LTD.


/s/ Michael J. Ruberto        By:/s/ Terrence C. McCarthy
----------------------        ---------------------------
                              Vice President and Treasurer


                              ASA INTERNATIONAL VENTURES, INC.


/s/ Michael J. Ruberto        By:/s/ Terrence C. McCarthy
----------------------        ---------------------------
                              Vice President and Treasurer





                                                                              67