INDIA NON JUDICIAL


                                                        RS 100

                                                              ONE HUNDRED RUPEES


DELHI                                                                     202027

                            ASSETS PURCHASE AGREEMENT

This  Assets  Purchase  Agreement  ("Agreement") is executed on this 31st day of
March,  2005  BETWEEN:

1.  SELLERS

     (i)  M/S.  SOFTWARE MOGULS INDIA PRIVATE LIMITED, a company incorporated in
          terms  of  the  Companies  Act,  1956 and having its registered office
          situated at D - 70 A, East of Kailash, New Delhi - 110 065 through its
          Director  viz.  SHRI  KESHAV  GARG  in terms of Board Resolution dated
          December  03,  2004.


     (ii) M/S.  S  M INFOEXPERT PRIVATE LIMITED, a company incorporated in terms
          of  the  Companies Act, 1956 and having its registered office situated
          at D - 70 A, East of Kailash, New Delhi - 110 065 through its Director
          viz.  SHRI KESHAV GARG in terms of Board Resolution dated December 03,
          2004.


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -1-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
The  aforesaid  parties  contained  in  paragraph  (i)  and (ii) are hereinafter
jointly  and  severally  called  as  "Sellers",  which  expression shall, unless
repugnant  to  the  meaning  or  context  thereof,  be  deemed  to include their
successors,  nominees  and  permitted  assigns.

                                       AND

2.   PURCHASERS

     (i)  M/S.  APA OPTRONICS (INDIA) PRIVATE LIMITED, a company incorporated in
          terms  of  the  provisions  of  Companies  Act,  1956  and  having its
          registered  office  situated  at  503-504,  Chiranjiv  Tower, 43 Nehru
          Place, New  Delhi  110019 through its director Mr. Kulbhushan Jain in
          terms  of  Board  Resolution  dated  September  13,  2004.

The  aforesaid  party  is  hereinafter  called  as "Purchaser", which expression
shall,  unless repugnant to the meaning or context thereof, be deemed to include
their  successors,  nominees  and  assigns.

The  Sellers  and  the  Purchaser  are  referred  to  herein  individually  as
"PARTY"  and  collectively  as  "PARTIES"


WHEREAS


A.   The Sellers are the corporate having their units set up under Foreign Trade
     Policy  of  the  Government  of  India  in  the Special Economic Zone (SEZ)
     situated  at  NOIDA  at  A-2,  SDF,  NSEZ,  NOIDA  -  201305  (U.P.) INDIA.

B.   The  Sellers  i.e.  M/s.  Software  Moguls  India  Pvt.  Ltd.  and M/s. S M
     Infoexpert Pvt. Ltd., have agreed to sell and the Purchasers have agreed to
     purchase, all the assets as specified in the annexure attached in following
     manner  with  this  agreement  and forms part and parcel of this agreement:

     (i)  List  of  Specified  Assets of M/s. Software Moguls India Pvt. Ltd. as
          ANNEXURE  -  A.

     (ii) List  of Specified Assets of M/s. S M Infoexpert Pvt. Ltd. as ANNEXURE
          -  B.

For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -2-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
The  aforesaid specified assets as contained in Annexure A and B are hereinafter
jointly  called  as  "Specified  Assets".

C.   The  Parties  now  desire  to  record  the  terms  and  conditions of their
     understanding and wish to set forth their respective rights and obligations
     in  respect  thereof.

NOW  THEREFORE,  in  consideration of the foregoing and the mutual covenants and
agreements  contained  herein,  the  Parties  agree  as  follows:

1.   That  subject to condition contained in clause 2, the sellers had agreed to
     sell  their entire assets ("Specified Assets") as described in the attached
     Annexure  A  & B on payment of the consideration of US $ 60,000 (equivalent
     to  INR.  26,04,000/-)  by  the  Purchaser.

2.   That the sale consideration as mentioned above in clause 1 shall be subject
     to  the  deductions  to the extent of Rs. 2,04,000/-, the sale value of the
     amount  collected  as  Sale  proceeds  of  Specified Assets, as detailed in
     Annexure  C.

3.   That  some  of  the Softwares presently being used by the sellers are still
     having  a  useful  life. These Softwares valuing Rs. 2,66,211/- (Rupees two
     lac  sixty  six  thousand  two  hundred  eleven only) have been sold to the
     purchasers  by  the  software vendors directly. The purchaser has paid this
     amount  directly  to  these  vendors  and this amount is to be reduced from
     consideration  payable  under  clause  1  hereof. The purchaser can now use
     these  softwares  freely.  The  details  of  these software are included in
     ANNEXURE  C-1

4.   That  the  Purchaser  shall  pay the aforesaid consideration to the sellers
     vide  Cheque(s)  payable  at  NOIDA  /  New  Delhi.


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -3-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
5.   That  the  Sellers hereby undertake the responsibility of ensuring that all
     the  Specified Assets as detailed in ANNEXURE A and ANNEXURE B attached and
     as contained in the respective audited balance sheet as on March, 31, 2004,
     are  free  from  all charges or encumbrance or lien of any kind whatsoever.

6.   That this agreement is only for the purchase of the entire specified assets
     of the Sellers and no liabilities of the Sellers of any kind are taken over
     by  the  purchaser.

7.   That  Sellers  hereby warrants that all other, rights, claims, intellectual
     property  rights  and  other  assets of the seller, whether tangible and/or
     intangible.  shall  hereafter  fully  vest in the Purchaser and the Sellers
     will  not  have  any  interest  of  any  kind whatsoever in any of the said
     Assets.

8.   The  sellers  has  provided  a  comprehensive list of intellectual property
     rights developed and owned by the sellers as annexed with this agreement as
     ANNEXURE  D.  This  list  clearly  identify  Softwares  which  had  been
     sold/transferred  to  the  customer  of the Sellers in past in the ordinary
     course  of  business  and  the  extent  to  which  these  rights  have been
     transferred.  The seller also hereby warrants that any royalty, license fee
     or  renewal  or  maintenance  charges on IPR sold / transferred in past, if
     any,  will  belong  to  the  purchaser.  The  general  applications of such
     softwares  could  be  used by the purchaser to the extent such usage do not
     infringe  the  rights  of  the  buyers  as  identified  in  the  list.

9.   That  the  assets  transferred  to  the purchaser do not include cash, bank
     balances,  investments, loans and advances and other non business assets of
     the  sellers  and specific fixed assets of nominal value as per ANNEXURE E.
     The security deposits and other advances in the ordinary course of business
     given  by  the sellers to various persons or authorities including to state
     electricity  Boards,  Telephone  companies etc. will belong to the sellers.


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -4-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
10.  That  the  Sellers  jointly  as  well  as severally undertake that the said
     Specified  Assets  are  free from all liabilities, obligations or charge of
     any  kind  whatsoever against it. The Sellers hereby undertake to indemnify
     the  Purchasers  and  the  Company of any liability, which may arise on the
     Purchaser, of any kind whatsoever in relation to the said Specified Assets.

11.  That the Sellers will fully indemnify and co-operate with the Purchasers to
     ensure  that  the  Purchasers  are  able  to freely enjoy the free physical
     possession,  ownership  title  and  all  rights  attached  to the Specified
     Assets.  The  Sellers  hereby  agree  to  sign  all  necessary  papers,
     undertakings,  no objection certificates, letters and such other papers and
     documents as may be required by the Government, Noida Special Economic Zone
     Authority  or  any  authority  or  any  party  dealing  with the Purchaser.

12.  That the Sellers have warranted that all employees of the sellers as on 1st
     February,  2005  shall  be available to the purchaser for being employed by
     the  purchaser,  at  the  option  of  the  purchaser.

13.  That  the  Sellers  also  agrees  not  to  employ any of their employees as
     mentioned  above  in  para  12  for  a  period of 3 years, in case the said
     employee  is  opted  for  being  employed  by  the  Purchaser  even if such
     employees  leave the employment of the purchaser at any date for any reason
     whatsoever.

14.  That  this  Agreement is subject to the approval to various applications as
     filed by the Purchaser, with the NSEZ Authorities. Govt. of India etc. in a
     manner  acceptable  to  Purchaser  and  suited  to the business plan of the
     Purchaser.  No legal right will arise in favour of the Sellers in pursuance
     to  this  Agreement  till  the  Purchaser fully approve the transaction, as
     suitable  to  them in writing by way of Certificate issued by the Purchaser
     to  the  Sellers.


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -5-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
15.  That as per the approval of Noida Special Economic Zone (NSEZ) authorities,
     the  Sellers  has  surrendered  the  tenancy / lease rights in the premises
     located  at  A - 2. SDF, NSEZ, NOIDA - 201305 (U.P.) INDIA and has provided
     their  No Objection Certificate (NOC) in favour of the Purchaser for taking
     on  lease  / rent from NSEZ Authorities. The said premise has been allotted
     by  NSEZ,  NOIDA  on  lease  to  the  purchaser.  The  purchaser have taken
     possession  the premises and all the specified assets as per Annexure A and
     Annexure  B.

16.  That the Sellers have warranted that there are no litigation, cases etc. of
     any  kind whatsoever pending before any authority, court of law against the
     Sellers  related  to  Specified  Assets,  to  the  best of their knowledge,
     information  and  belief.

17.  That  Sellers  also warrants that they are duly authorized to sell the said
     Specified  Assets  and  Sellers  will  obtain necessary permissions for the
     sale.

18.  That  Sellers  hereby undertake that they have taken all permissions as was
     be  required  for the purpose to sell the Specified Assets to the Purchaser
     in  terms  of  the  provisions  as contained under Chapter 7 of the Foreign
     Trade  Policy  2004-2009  and  has  also undertaken that there shall, be no
     subsistence  or continuing obligation, warranties or guarantees relating to
     the  Specified  Assets  except as specifically undertaken by the purchaser,

19.  That  the  Sellers  have agreed that they will not commence any business or
     operations  similar  to  their  present operations or any other business or
     profession which may amounts to competition with the Purchaser for a period
     of  3  years  from  the  date  of  signing  of  this  agreement.

20.  That  the  Sellers  have  the  authorizations  to  execute  this  Agreement

21.  NOTIFICATION - Any notice or written communication provided for or required
     in  terms of this Agreement by either Party to the other, including but not
     limited  to


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -6-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
     any  and  all  offers, writings, or notices to be given hereunder, shall be
     made in English by courier service delivered letter. The date of receipt of
     a  notice  or  communication  hereunder shall be deemed to be five (5) days
     after  the  letter is given to the courier service in the case of a courier
     service  delivered  letter. All notices and communications shall be sent to
     the  appropriate  address  set  forth  above,  until the same is changed by
     notice  given  in  writing  to  the  other  Party.

22.  WAIVER OF RIGHTS - Failure or delay on the part of either Party to exercise
     any  right,  power or privilege under this Agreement shall not operate as a
     waiver  thereof; nor shall any single or partial non-exercise of any right,
     power  or  privilege  preclude  any  other  future  exercise  thereof.

23.  ENTIRE  AGREEMENT  -  This  Agreement  supersede  all  prior  agreements.
     understandings  and  representations,  written  and  oral.  In  case of any
     inconsistency  between  this  Agreement  and  any  prior understanding this
     Agreement  shall  prevail.

24.  FORCE  MAJEURE


24.1 If  an  event  of  Force Majeure occurs, the contractual obligations of the
     Party affected by Force Majeure shall be automatically suspended during the
     period  of delay caused by such Force Majeure and the period for performing
     the  obligations  shall  be extended, without incurring any liability there
     from,  for  a  period  equal  to  such  suspension.

24.2 The  Party  affected by Force Majeure shall promptly inform the other Party
     in writing and shall furnish within fifteen (15) days thereafter-sufficient
     proof  of  the  occurrence and expected duration of such Force Majeure. The
     Party affected by Force Majeure shall also use all reasonable endeavours to
     mitigate the negative effects of such Force Majeure on such Party's ability
     to  perform  its  contractual  obligations.

24.3 In  the  event of Force Majeure, the Parties shall immediately consult with
     each


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -7-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
     other  in  order to find an equitable solution and shall use all reasonable
     endeavours  to  minimize  the  consequences  of  such  Force  Majeure.

24.4 For  the  purposes  of this clause, Force Majeure shall mean any act of god
     such  as  earthquake, floods, storms or any governmental actions that would
     render  the  obligations  under  this  Agreement  impossible  to  perform.

25.  EXPENSES  -  Each  Party  hereto  will bear the legal, accounting and other
     expenses,  duties  and  taxes incurred by such Party in connection with the
     negotiation,  preparation and execution of this Agreement and the documents
     and  transactions  contemplated  hereby.

26.  AMENDMENTS - This Agreement may be amended only by an instrument in writing
     signed  by  duly  authorized  representatives  of  each  of  the  Parties.

27.  DISPUTE  RESOLUTION  - That any dispute in relation to this agreement shall
     be  referred  to a panel of arbitrators consisting of one nominee each from
     both  sides  who  will  appoint  an  umpire  in  terms  of  Arbitration and
     Conciliation  Act,  1996.

28.  JURISDICTION  -  That  the  jurisdiction  of  this agreement will be at New
     Delhi/Delhi.


IN  WITNESS  WHEREOF THE PARTIES HERETO HAVE HEREUNTO SET THEIR RESPECTIVE HANDS
THE  DAY  AND  YEAR  ABOVE  WRITTEN:

     FOR SELLERS

     For SOFTWARE MOGULS INDIA PRIVATE LIMITED

     /s/ Keshav Garg
     KESHAV GARG
     DIRECTOR
(Signed in terms of authority given vide Board Resolution dated 3rd December,
2004.)


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -8-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
     For S M INFOEXPERT PRIVATE LIMITED

     /s/ Keshav Garg
     KESHAV GANG
     DIRECTOR
(Signed in terms of authority given vide Board Resolution dated 3rd December,
2004)


          FOR THE PURCHASERS


          FOR APA OPTRONICS (INDIA) PRIVATE LIMITED
          /S/ Kul Bhushan Jain
          KUL BHUSHAN JAIN
          DIRECTOR

(Signed in terms of authority given vide Board Resolution dated September 13,
2004.)


WITNESSES :


1.


2.



For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -9-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
                                                                    ANNEXURE - A
<TABLE>
<CAPTION>
 LIST OF SPECIFIED ASSETS OF M/S. SOFTWARE MOGULS INDIA PVT. LTD.



     PARTICULARS                                         QUANTITY
<S>  <C>                                                 <C>

1.   125 KVA Generator                                          1
     Manufacturer - Meera & Co, Delhi

2.   20 KVA Generator
     Manufacturer - Bhaskar, Pune                               1

3.   DB System Online UPS 5 KVA with 14 Batteries each          3

4.   Tata Liebert UPS System Online UPS 6 KVA each              1
     with 16 Batteries

5.   One KVA UPS of Enlova with 1 Battery                       1

6.   One KVA UPS of DB with 2 Batteries                         1

7.   Window ACs of 1.5 tons each (of Voltas Ltd.)              10
     with 4 KVA Voltage Stabilizers of Logicstat

8.   Split AC of l.5 tons each (of Voltas Ltd.)                 1
     with 4 KVA Voltage Stabilizer of Logicstat

9.   Vintron PC set complete P-III                              1

10.  Cisco Router-Computer Peripheral-Hard ware                 1

11.  Hand Dryer                                                 1

12.  Refrigerator                                               1

13.  Water Dispenser                                            1

14.  Vending Machine                                            1

15.  Hot Case                                                   1

16.  Photo Copier                                               1

17.  Fax Machine                                                1

18.  Projector                                                  1
</TABLE>


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -10-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
<TABLE>
<CAPTION>
<PAGE>
     PARTICULARS                            QUANTITY
<S>  <C>                                    <C>

19.  Wall Clocks                                  3

20.  EPBX System                                  1

21.  Vacuum Cleaner                               1

22.  Old Carpet on Floor                          LS

23.  Old Chairs                                   89

24.  Old Plastic Chairs                           26

25.  Sofa Chairs                                  4
     (Total Chairs - 119)

26.  Computer Tables                              54

27.  Plastic Tables                               5

28.  Side Table                                   1

29.  Executive Table                              2

30.  Conference Table                             1

31.  Wooden Table Big                             6

32.  Steel Table with Side                        1

33.  Fixed Table                                  20
     (Total Tables - 90)

34.  Front Desk                                   1

35.  White Writing Boards & Notice Boards         8

36.  Wooden Cabinet                               15

37.  Filing Cabinet 4 Drawers                     1
</TABLE>


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -11-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
<TABLE>
<CAPTION>
     PARTICULARS                                QUANTITY
<S>  <C>                                        <C>

38.  Filing Cabinet 2 Drawers                         1

39.  Server Room Rack                                 1

40.  Filing Rack                                      2

41.  Battery Racks                                    5

42.  Almirahs                                         3

43.  Old Exhaust Fans                                 6

44.  Old ceiling Fans                                 3

45.  Pedestrial Fans                                  2

46.  Tube Light Sets fitted with false ceiling        65

47.  X lanbit Modem                                   1
48.  GVC Modem                                        2
49.  16 port HUB DX Lanb                              1
50.  HPLeaser jet printer 2100                        1
51.  Sun System                                       1
52.  BayNetworks Switch                               1
53.  DlinkHub 10 Base T 16 Port                       3
54.  Enhanced CAT 5 UTP AMP CABLE                     LS
55.  Dual Port Iconable pace plate                    20
56.  Gang Box- Metallic                               20
57.  Cisco 2501 Router, 4 MB Flash, 4 mb dram         1
58.  Port jack panel                                  3
59.  Conduit Wire Managers                            6
60.  Power Strip                                      2
61.  HP LI 6P Printer                                 1
62.  14" Vintron Color monitor                        5
63.  Samtron Digital 14" Color Monitor                1
64.  Dlink  utp 16 port Hub                           3
</TABLE>


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -12-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
<TABLE>
<CAPTION>
PARTICULARS                                                                  QUANTITY
<S>                                                                        <C>
65.  Compaq proliant 800- P-II 350mhz Server                                 1
66.  Micom 3k Single Bank, Flach Pak                                         1
67.  Computer Machines - Touch make                                          7
68.  Hubs                                                                    6
69.  CD Re-Writer 8230                                                       1
70.  Epson Stylus-400 Color                                                  1
71.  HP SJ5100C-Scanner                                                      1
72.  Monitor Sharer 4:1                                                      3
73.  Ratioalrose 2000 ent edition Expired requiring Up gradation             1
74.  D 4100 - 08939 Rationalrose 2000 enterprise edition                     1
     documentation kit
75.  Roof Ceiling Fixed                                                      5500 sq. ft.
76.  Wooden partition embedded in earth having up to 9 ft height             1600 sq. ft.
77.  Cubicle of 1.5"*2.5" aluminum embedded in earth with                    1200 sq. ft.
     height of 4'6" appx.
78.  Generator room acoustics fixed on walls and ceiling
     for making it sound proof.
79.  Electric fittings for running the unit embedded in walls including
     cables and electrical MCBs, panel, bush bar and all accessories  thereof.
</TABLE>


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -13-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
                                                                     ANNEXURE- B

      LIST OF SPECIFIED ASSETS OF M/S. S M INFOEXPERT PVT. LTD.

<TABLE>
<CAPTION>
PARTICULARS                                                   QUANTITY
<S>                                                           <C>

1 . Intel P-IV 2.4 Ghz Server                                       1

2. Intel P-IV 3.6 Ghz Server                                        1

3. Intel P-IV 1.8 Ghz Computers                                     10

4. Sonicwall SOH03/25 VPN (25 user) (validity till dec. 2004)       1

5. Dlink Swith 24 ports 10/100                                      1
</TABLE>


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -14-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
                                                                      ANNEXURE-C

                       LIST OF ASSETS SOLD BY THE SELLERS

<TABLE>
<CAPTION>
PARTICULARS                                              QUANTITY
<S>                                                      <C>
1. Old Computers                                             37

2. HP Printer def                                            1

3. Chairs                                                    16

4. Table                                                     1

5. Other Defective Items:

     -  P-133 with multimedia (only sound port without
        speakers)                                            2

     -  Computer System-server :-                            2
        PII 266mhz , scsi 18 gb hdd, 1.44fdd
        128ram, lan card, keyboard, mouse

     -  Computer System Server                               4
        Intel MMX 200, scsi 4.3gb hdd, 1.44
        FDD, 24x cdrom drive, 32mb ram,
        Lan card, keyboard ,mouse, modem 56

     -  Computer System Workstation
        166mmx ,4.3 hdd, 32mb ram, 1.44fdd
        24x cdrom drive, lan card, mouse                    15
        keyboard

     -  Computer System-Workstation                         6
        166 MMX, 4.3GB HDD, 32MB Ram, 1.44 FDD,
        24x Cdrom lan card
        Keyboard, Mouse

     -  Dlink hub 8 Port 10 Base T                          6

     -  14' Digital Color Monitor                           8

     -  HP-CDR 7100E CD-REWRITER                            1


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -15-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
     -  14" Vintron Color monitor                                    1

     -  Samtron Digital 14" Color Monitor                            2

     -  Vintron II 350 mhz,64 sdram,4.3gb,                           3
        color monitor,lan card ,mouse
        keyboard

     -  Vintron P-II 350 mhz 64mb 4.3 gb,                            5
        14" color monitor, mouse, speaker,
        modem, 36x cdrom drive,cvt 500va

     -  Compaq Presario 2262 300mhz, cyrix                           1
        Processor, 32mb ram, 2.1 gb hdd
        1.44 fdd,32x cdrom drive, 15"color
        monitor, modem, lan card , keyboard
        mouse, sound card, speaker

     -  Compaq Deskpro EP, celeron 300A,                             1
        64 mb ram, 1.44fdd, 4.3gb hdd,Agp
        card,lan card, compaq v45 color
        monitor, mouse, keyboard,
        microsoft windows 95 pre loaded

     -  Compaq Deskpro EP,celeron 300A,                              2
        64 mb ram, 1.44fdd, 4.3gb hdd,Agp
        card, lan card, compaq v45 color
        monitor,mouse,keyboard,
        microsoft windows 95 pre loaded

     -  P-II 350 MHZ Intel Processor
        along with 64mb dimm,pcivga 2
        mb with cabinet, smps                                        3

     -  Vintron PC                                                   1
        P-II 350/64 RAM/4.3 HDD/1.44
        FDD,PCI VGA 2 MB 14"COLOUR
        Keyboard/ Mouse
</TABLE>


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -16-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
                                                                     ANNEXURE C1

                       SOFTWARE PURCHASED FROM THIRD PARTY

     A.  M/s.  SOFTWARE  MOGULS  INDIA  PRIVATE  LIMITED

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------
 S.  DETAILS OF         QTY.        REMARKS ON TRANSFERABILITY /                 INVOICE ISSUED BY
No.   SOFTWARE                      INVOICE(S) ISSUED IN FAVOUR OF
                                 M/s. APA Optronics India Pvt. Ltd.
-----------------------------------------------------------------------------------------------------------
<S>  <C>                <C>   <C>                                         <C>
 01  Visual studio 97      1  Through Invoice No. FSPL / BD / 2004-05     Third party vendor against debit
     Prof. upgrade            / 524 dated 14/02/2005of M/s. Futuresoft    note  no. SMIPL/2004-05/2 dated
     on cd Rom                Solutions Pvt. Ltd. for Rs. 25,000/-        01.02.2005 of M/s. Software
                                                                          Moguls India Pvt. Ltd. for Rs.
                                                                          15,250.
-----------------------------------------------------------------------------------------------------------
 02  Windows NT            1  Through Invoice No. 59 dated 09/02/2005     Third party vendor against debt
     Server 4.0 (5            of M/s. S & S Enterprises for Rs. 25,000/-  note no. SMIPL/HO 20047-05/01
     user)                                                                dated 01.02.2005 of M/s.
                                                                          Software Moguls India Pvt. Ltd.
                                                                          for Rs. 23,000/-
-----------------------------------------------------------------------------------------------------------
 03  True DB Grid             Through Invoice No. 59 dated 09/02/2005     Third party vendor against debt
     pro 6.0 (exp.            of M/s. S & S Enterprises for Rs. 1,000/-   note no. SMIPL/HO /2004-05/01
     reg. updation)                                                       dated 01.02.2005 of M/s.
                                                                          Software Mogul India Pvt. Ltd. for
                                                                          Rs. 500/-
-----------------------------------------------------------------------------------------------------------
 04  Olectra chart            Through Invoice No. 59 dated 09/02/2005     Third party vendor against debit
     6.0 (exp. req.           of M/s. S & S Enterprises for Rs. 1,000/-   note no. SMIPL/HO /2004-05/01
     updation)                                                            dated 01.02.2005 of M/s.
                                                                          Software Moguls India Pvt. Ltd.
                                                                          for Rs. 500/-
-----------------------------------------------------------------------------------------------------------
 05  Installshield         1  Through Invoice No. 59 dated 09/02/2005     Third party vendor against debit
     Software (exp.           of M/s. S & S Enterprises for Rs. 1,000/-   note no. SMIPL/HO /2004-05/01
     req. updation)                                                       dated 01.02.2005 of M/s. Software
                                                                          Moguls India Pvt. Ltd. For Rs.
                                                                          500/-
-----------------------------------------------------------------------------------------------------------
 06  Visual studio         1  Through Invoice No. 59 dated 09/02/2005     Third party vendor against debit
     Ent full pack            of M/s. S & S Enterprises for Rs. 55,000/-  note no. SMIPL/HO /2004-05/01
----------------------------  for 5 Users.                                dated 01.02.2005 of M/s.
 07  Visual studio         4                                              Software Moguls India Pvt. Ltd.
     ver6.0 Ent                                                           for Rs. 50,000/-
     Edition OLP
     NL.
-----------------------------------------------------------------------------------------------------------
 08  Visual C++ 6.0        1  Through Invoice No. 59 dated 09/02/2005     Third party vendor against debit
     STD Full pack            of M/s. S & S Enterprises for Rs. 3,600/-   note no. SMIPL/HO /2004-05/01
                                                                          dated 01.02.2005 of M/s.
                                                                          Software Moguls India Pvt. Ltd.
                                                                          for Rs. 3,000/-
-----------------------------------------------------------------------------------------------------------
 09  Windows 2000          1  Through Invoice No. 59 dated 09/02/2005     Third party vendor against debit
     prof PUP with            of M/s. S & S Enterprises for Rs. 6,200/-   note no. SMIPL/HO /2004-05/01
     95 full pack                                                         dated 01.02.2005 of M/s.
                                                                          Software Moguls India Pvt. Ltd.
                                                                          for Rs. 6,000/-
-----------------------------------------------------------------------------------------------------------
</TABLE>


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -17-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
<TABLE>
<CAPTION>
<S>  <C>                 <C>  <C>                                        <C>
----------------------------------------------------------------------------------------------------------
 10  SBS 2000 FP           1  Through Invoice No FSPL / BD / 2004-05     Third party vendor against debit
     with 5 clients           / 524 dated 14/02/2005 of M/s. Futuresoft  note no. SMIPL/2004-05/2 dated
     CPUP from sun            Solutions Pvt. Ltd. for Rs. 36,961/-       01.02.2005 of M/s. Software
     solaris 8.X intel                                                   Moguls India Pvt. Ltd. for Rs.
     version                                                             36,961/-.
----------------------------------------------------------------------------------------------------------
 11  Windows 2000          2  Through Invoice No. FSPL / BD / 2004-05    Third party vendor against debit
     server with 5            / 524 dated 14/02/2005 of M/s. Futuresoft  note no. SMIPL/2004-05/2 dated
     CALS FP CUP              Solutions Pvt. Ltd. for Rs. 32,200/-       01.02.2005 of M/s. Software
     with Sun                                                            Moguls India Pvt. Ltd. for Rs.
     Solaris 8.X intel                                                   32,200/-
     version
----------------------------------------------------------------------------------------------------------
 12  Anti virus            1  Through Invoice No. 59 dated 09/02/2005    Third party vendor against debit
     software                 of M/s. S & S Enterprises for Rs. 500/-    note no. SMIPL/HO/2004-05/01
     (expired                                                            dated 01.02.2005 of M/s.
     requires                                                            Software Moguls India Pvt. Ltd.
     updation)                                                           for Rs. 100/-
----------------------------------------------------------------------------------------------------------
</TABLE>

B. M/s. SM INFOEXPERT PRIVATE LIMITED

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
 S.  DETAILS OF           QTY.         REMARKS ON TRANSFERABILITY /                INVOICE ISSUED BY
NO.   SOFTWARE                        INVOICE(S) ISSUED IN FAVOUR OF
                                    M/s. APA Optronics India Pvt. Ltd.
------------------------------------------------------------------------------------------------------------
<S>  <C>                  <C>   <C>                                         <C>
 13  SQL server              1  Through Invoice No. 58 dated 01/02/2005     Third party vendor against debit
     2000 (5 users)             of M/s. S & S Enterprises for Rs. 53,500/-  note no. SMIEPL 2004-
     With paper                                                             05/DTA/01 dated 01.02.2005 of
     licence and CD                                                         M/s. Software Infoexpert Pvt.
     media (lifetime)                                                       Ltd. for Rs.50,000/-
------------------------------------------------------------------------------------------------------------
 14  Crystal report 9.0      1  Through Invoice No. 58 dated 01/02/2005     Third party vendor against debit
     (Developer)                of M/s. S & S Enterprises for Rs. 34,000/-  note no. SMIEPL 2004-
                                                                            05/DTA/01 dated 01.02.2005 of
                                                                            M/s. Software Infoexpert Pvt.
                                                                            Ltd. for Rs.30,000/-
------------------------------------------------------------------------------------------------------------
 15  Symantec                2  Through Invoice No. 59 dated 09/02/2005     Third party vendor against debit
     Norton anti                of M/s. S & S Enterprises for Rs. 500/-     note no. SMIEPL 2004-
     virus (5 users)                                                        05/DTA/01 dated 01.02.2005 of
     (expired                                                               M/s. Software Infoexpert Pvt.
     Required                                                               Ltd. for Rs.200/-
     updation)
------------------------------------------------------------------------------------------------------------
</TABLE>


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -18-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
                                                                    ANNEXURE - D

      LIST OF INTELLECTUAL PROPERTY RIGHTS (IPR) DEVELOPED BY THE SELLERS

A.   M/S.  SOFTWARE  MOGULS  INDIA  PRIVATE  LIMITED

     (a)  Software  Developed  for customers of M/s. Advanced Web Solutions Inc.
          USA  and  Owned  (non  exclusive  rights)  are  as  follows:

          -    E.  Mail  server  -  Developed  for  Lawsons,  USA
          -    Site  Builder  -  Developed  for  Lawsons  and  Fifty  below

     (b)  Software  Developed  for Customers of M/s. Advanced Web Solutions Inc.
          USA  are  as  follows:

          -    S. M. OLUM
          -    K R S  Education  Programme
          -    Maintrax
          -    1 H 1  -  Web  enabling
          -    Health  easy  -  web  enabled
          -    Marconi  Cass  -  Clients  of  C H Robinson
          -    Banta  -  Clients  of  C H Robinson
          -    Ship  LTL  -  C H Robinson

B.   M/S.  S  M  INFOEXPERT  PVT.  LTD.

     (a)  Software  Developed  for customers of M/s. Advanced Web Solutions Inc.
          USA  are  as  follows:

          -    Utility  Captain  renamed  as  SM  OLUM,  the enhanced version of
               SMENG.


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -19-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director


<PAGE>
                                                                    ANNEXURE - E

                           DETAILS OF ASSETS NOT SOLD

     A.  M/S.  S  M  INFOEXPERT  PVT.  LTD.

<TABLE>
<CAPTION>
<S>  <C>                  <C>
1.   FURNITURE & FIXTURE  RS. 22,270/-

2.   ELECTRIC FITTING     RS. 8,075/-

3.   POWER SUPPLY SYSTEM  RS. 15,570/-

     TOTAL                RS. 46,095/-
</TABLE>


For Software Moguls India Private Limited    For SM INFOEXPERT PVT. LTD.
/s/ Keshav Garg     Director                 /s/ Keshav Garg     DIRECTOR
--------------------------------------------------------------------------------
                                      -20-

                                             For APA OPTRONICS (INDIA) PVT. LTD.
                                             /s/ Kul Bhushan Jain    Director