Dated the 14th day of July 2000




                                 POMPON LIMITED




                                       TO




                            BONSO INVESTMENT LIMITED





                               A S S I G N M E N T





REGISTERED in the Land Registry by

Memorial No. __________________

on ______________________


                                p. Land Registrar


                                   WONG & FOK
                                   Solicitors,
                             Room 1801, 18th Floor,
                            Tuen Mun Parklane Square,
                               No. 2 Tuen Hi Road,
                                    Tuen Mun,
                                New Territories,
                                   Hong Kong.

                               Ref : WPF/801134/00



<PAGE>



THIS ASSIGNMENT is made the 14th day of July 2000

BETWEEN

(1)  POMPON LIMITED whose registered office is situate at Flat 10B, Block 3,
     Bauhinia Court, World Wide Gardens, Sha Tin, New Territories, Hong Kong
     ("the Vendor") and

(2)  BONSO INVESTMENT LIMITED, whose registered office is situate at Unit A-D,
     8th Floor, Universal Industrial Centre, 23-25 Shan Mei Street, Fo Tan,
     Shatin, New Territories, Hong Kong ("the Purchaser").

1.   In consideration of the sum of HONG KONG DOLLARS FOURTEEN MILLION ONE
     HUNDRED AND THIRTY EIGHT THOUSAND ONLY (HK$14,138,000.00) paid by the
     Purchaser to the Vendor (receipt whereof is acknowledged) the Vendor as
     Beneficial Owner ASSIGNS to the Purchaser the land described in the
     Schedule hereto ("the Property") TO HOLD the same unto the Purchaser for
     the residue of the term of years created by the Government Lease referred
     to in the Schedule Subject to the payment of a due proportion of the yearly
     Government rent reserved by and the covenants, conditions and provisos
     contained in the Government Lease and Subject to and with the benefit of a
     Licence, an Assignment, a Deed of Mutual Covenant and a Management
     Agreement respectively registered in the Land Registry by Memorial Nos.
     380930, 570997, 2190469 and 2488325 (hereinafter collectively referred to
     as "the said Deed of Mutual Covenant").

2.   The Vendor hereby covenants with the Purchaser that the Vendor has duly
     observed and performed all the covenants and conditions in the said Deed of
     Mutual Covenant contained and on the part of the Vendor to be performed and
     observed.

3.   The Purchaser hereby covenants with the Vendor that the Purchaser will
     henceforth observe and perform the covenants, terms and conditions in the
     said Deed of Mutual Covenant reserved and contained and will indemnify the
     Vendor against all actions suits expenses claims and demands on account of
     or in respect of the non-observance or non-performance of the said
     covenants terms and conditions or any of them.

<PAGE>


4.   The Purchaser hereby further covenants with the Vendor that the Purchaser
     will not carry on or suffer or permit to be carried on on the Property or
     any part thereof all or any of the trades or business of wharfingers,
     lighterman, godown keepers, warehouseman, stevedores, dockers, or owners or
     operators of wharves, docks, godown, warehouses, piers, lighters, barges,
     or similar vessels provided however that the above covenants shall not
     prohibit the use of any one or more offices in the said Building referred
     to in the Schedule hereto as the business or administrative office of any
     person or company carrying on any of the business aforesaid.

5.   The Purchaser hereby further covenants with The Hongkong Land Company
     Limited, Grayhill Estates Limited, Capsey Company Limited, Aimrite Company
     Limited that there is no right of light and air to any of the windows on
     the side of the said Building overlooking the praya now forming the
     entrance to the Ocean Terminal and that if any future development takes
     place on the Praya, the Purchaser and his or its successors and assigns
     will have no right to the continuation of light and air to these windows
     (notwithstanding the Purchaser may at the date hereof have the enjoyment of
     such right of light and air, if any) or to object to or to claim
     compensation in respect thereof.

6.   It is hereby agreed and declared by the parties hereto that the respective
     covenants by the Vendor and the Purchaser implied by the Conveyancing and
     Property Ordinance Cap. 219 of the Laws of Hong Kong and herein contained
     shall be construed and shall take effect so far as they affect or relate to
     the Property but not further or otherwise.

7.   It is hereby certified that the Property subject to this assignment is
     non-residential property within the meaning of Section 29A(1) of the Stamp
     Duty Ordinance.

     IN WITNESS whereof the parties hereto have executed this Assignment the day
and year first above written.




<PAGE>



                                 S C H E D U L E
                                 ---------------
1.       The Property:

     (a)  Lot number, sections, undivided shares, descriptions, address, etc.:
          ALL THOSE 70 equal undivided 19,328th parts or shares of and in ALL
          THAT piece or parcel of ground registered in the Land Registry as
          SECTION A OF KOWLOON MARINE LOT NO. 10 And of and in the building
          thereon known as the date hereof as "STAR HOUSE" (formerly known as
          "Kowloon Commercial Centre") ("the said Building") TOGETHER with the
          sole and exclusive right and privilege to hold use occupy and enjoy
          ALL THOSE UNITS NOS. 1106, 1107, 1108, 1109 and 1110 on the ELEVENTH
          FLOOR of the said Building (which said Units are more particularly
          shown on the Plan annexed to an Assignment registered in the Land
          Registry by Memorial No. 2214931 ("the said Assignment") and thereon
          coloured Pink and marked "1106, 1107, 1108, 1109 and 1110")

     (b)  Exceptions and reservations, etc.:

          (i)  Except and reserved as in the Government Lease is excepted and
               reserved; and

          (ii) Except and reserved as in the said Assignment is excepted and
               reserved.

     (c)  Easements and other appurtenant rights, if any: Subject to and with
          the benefit of such covenants rights of way easements and other
          appurtenant rights (if any) as are more particularly described in the
          said Assignment.

2.       The Government Lease:

(a)      Date              :    the 12th day of March 1910

(b)      Parties           :    His late Majesty King Edward VII of the
                                one part and The Hong Kong and Kowloon Wharf
                                and Godown Company Limited of the other part

<PAGE>


(c)      Term              :    for the term of 999 years commencing from the
                                25th day of July 1864

(d)      Lot Number        :    Kowloon Marine Lot No. 10



<PAGE>


SEALED with the Common Seal             )
of the Vendor and SIGNED                )
by Poon Yuen Pui, one                   )
of its directors ---------------------  )
                                        )
                                        )
director(s) duly authorised by          )
resolution of Board of                  )
Director in the presence of:            )


/s/ Terence K.W. Chan
Solicitor, Hong Kong SAR.


SEALED with the Common Seal             )
of the Purchaser and SIGNED             )
by So Hung Gun Anthony -------          )
--------------------------------------- )
                                        )
                                        )
director(s) duly authorised by          )
resolution of Board of                  )
Director in the presence of:            )


/s/ FOK WOO PING
Solicitor, Hong Kong SAR
Wong & Fok