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Exhibit 10.27.8 - Stock Option Grant for EB Associates, LLC dated April 29, 2002

                               STOCK OPTION GRANT

                    REGARDING 249,000 SHARES OF COMMON STOCK
                                       OF
                                 EUROTECH, LTD.,
                       A District of Columbia corporation

                         IN FAVOR OF EB ASSOCIATES, LLC,
                      A New York Limited Liability Company

                              DATED: APRIL 29, 2002

NEITHER THESE SECURITIES NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE
EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR
THE SECURITIES COMMISSION OF ANY STATE. THESE SECURITIES ARE BEING ISSUED IN
RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY MAY NOT BE OFFERED OR SOLD
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
OR PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
THEREUNDER AND IN COMPLIANCE WITH APPLICABLE STATE SECURITIES OR BLUE SKY LAWS.



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Eurotech, Ltd., a District of Columbia corporation (the "COMPANY"), hereby
certifies that, for value received, EB Associates, LLC or its registered assigns
(the "HOLDER"), is entitled, subject to the terms set forth below, to purchase
from the Company up to a total of 249,000 shares of common stock of the Company,
par value $ .00025 per share (the "SHARES") of which 117,000 shares of common
stock are presently available for issuance and of which 132,000 shares of common
stock are subject to the availability of authorized but unissued shares of
Common Stock of the Company. This Stock Option Grant (the "GRANT") is also
subject to the following terms and conditions:

1.       EXERCISE PRICE. Each of the Shares to which the Holder is entitled to
         purchase under this Grant may be purchased by the Holder at a price
         (the "EXERCISE PRICE") equal to the average closing bid price of the
         Company's shares on the American Stock Exchange on three trading days
         prior to its Vesting Date (as hereinafter defined).

2.       TERM. The right of the Holder to purchase the Shares under this Grant
         shall terminate on the tenth anniversary of their respective Vesting
         Dates (the "EXPIRATION DATE").

3.       VESTING. On the last day of each and every calendar month commencing
         May, 2002 and continuing through and including October, 2002 and
         provided that EB Associates, LLC shall remain an advisor to the
         Company, 41,500 of the Shares shall vest and the Holder shall have the
         right to purchase such vested Shares, or any part thereof, immediately
         upon the respective dates of vesting of such Shares ("VESTING DATES").
         In the event that EB Associates, LLC shall cease to be a advisor to the
         Company, the 41,500 Shares to be vested during the month of cessation
         of EB Associates, LLC's advisor status (the "CESSATION DATE") shall be
         pro-rated. Any Shares subject to the Grant hereunder which have already
         vested prior the Cessation Date shall not be affected by the cessation
         of EB Associates, LLC's advisor status. Any Shares subject to the Grant
         hereunder but which have not vested as of the Cessation Date shall
         become void and of no value.

4.       REGISTRATION OF GRANT. The Company shall register this Grant, upon
         records to be maintained by the Company for that purpose in the name of
         the record Holder hereof from time to time. The Company may deem and
         treat the registered Holder of this Grant as the absolute owner hereof
         for the purpose of any exercise hereof or any distribution to the
         Holder, and for all other purposes, and the Company shall not be
         affected by notice to the contrary.

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5.       REGISTRATION OF TRANSFERS AND EXCHANGES.

                  (a) The Holder may transfer all or a portion of his rights
         hereunder to any entity at least a majority of the voting control of
         which is owned at all times by the Holder. The Company shall register
         the transfer of any portion of this Grant in the records of the
         Company, upon surrender of this Grant, with the Form of Assignment
         attached hereto duly completed and signed, to the transfer agent of the
         Company or to the Company. Upon any such registration or transfer, a
         new grant to purchase the Shares, in substantially the form of this
         Grant (the "NEW GRANT"), evidencing the portion of this Grant so
         transferred, shall be issued to the transferee and a New Grant
         evidencing the remaining portion of this Grant not so transferred, if
         any, shall be issued to the transferring Holder. The acceptance of the
         New Grant by the transferee thereof shall be deemed the acceptance of
         such transferee of all of the rights and obligations of a holder of
         this Grant.

                  (b) This Grant is exchangeable, upon the surrender hereof by
         the Holder to the office of the Company for one or more New Grants,
         evidencing in the aggregate the right to purchase the number of Shares
         that may then be purchased hereunder. Any such New Grant will be dated
         the date of such exchange.

6.       DURATION AND EXERCISE OF GRANT.

                  (a) This Grant shall be exercisable, as to vested Shares, by
         the registered Holder on any business day before 5:00 P.M., New York
         City time, at any time and from time to time on or after the date
         hereof to and including the Expiration Date. At 5:00 P.M., New York
         City time on the Expiration Date, the portion of this Grant not
         exercised prior thereto shall be and become void and of no value. Prior
         to the Expiration Date, the Company may not call or otherwise redeem
         this Grant without the prior written consent of the Holder.

                  (b) Subject to Sections 5(b), 8 and 12, upon surrender of this
         Grant, with the Form of Election to Purchase attached hereto duly
         completed and signed, to the Company at its address for notice set
         forth in Section 14 and upon payment of the Exercise Price multiplied
         by the number of the vested Shares that the Holder intends to purchase
         hereunder, in the manner provided hereunder, all as specified by the
         Holder in the Form of Election to Purchase, the Company shall promptly
         (but in no event later than 3 business days after the Date of Exercise
         (as defined herein)) issue or cause to be issued and cause to be
         delivered to or upon the written order of the Holder and in such name
         or names as the Holder may designate, a certificate representing the
         Shares issuable upon such exercise, free of restrictive legends except

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         in the event that both a registration statement covering the resale of
         the vested Shares and naming the Holder as a selling stockholder
         thereunder (a "REGISTRATION STATEMENT") is not then effective and the
         Shares are not freely transferable without volume restrictions pursuant
         to Rule 144(k) promulgated under the Securities Act of 1933, as amended
         (the "SECURITIES ACT"). Any person so designated by the Holder to
         receive Shares shall be deemed to have become holder of record of such
         Shares as of the Date of Exercise of this Grant. A "Date of Exercise"
         means the date on which the Company shall have received (i) this Grant
         (or any New Grant, as applicable), with the Form of Election to
         Purchase attached hereto (or attached to such New Grant) appropriately
         completed and duly signed, and (ii) payment of the Exercise Price for
         the number of vested Shares so indicated by the holder hereof to be
         purchased.

7.       PIGGYBACK REGISTRATION RIGHTS.

                  During the term of this Grant, the Company may not file any
         registration statement with the Securities and Exchange Commission
         (other than registration statements of the Company filed on Form S-8 or
         Form S-4, each as promulgated under the Securities Act, pursuant to
         which the Company is registering securities pursuant to a Company
         employee benefit plan or pursuant to a merger, acquisition or similar
         transaction including supplements thereto, but not additionally filed
         registration statements in respect of such securities) at any time when
         there is not an effective Registration Statement, unless the Company
         provides the Holder with not less than 20 days notice to the Holder
         notice of its intention to file such registration statement and
         provides the Holder the option to include any or all of the applicable
         Shares therein. The piggyback registration rights granted to the Holder
         pursuant to this Section 7 shall continue until all of the Holder's
         Shares have been sold in accordance with an effective registration
         statement or upon the Expiration Date. The Company will pay all
         registration expenses in connection therewith. The grant of the
         Piggyback Registration Rights pursuant to this Section 7 is subject to,
         and conditioned upon, the execution by the Holder of a Selling
         Shareholder Agreement with regard to the registration and sale of the
         shares underlying the Grant, substantially in the form of agreement
         attached as Exhibit A.

8.       PAYMENT OF TAXES.

                  The Company will pay all documentary stamp taxes attributable
         to the issuance of Shares upon the exercise of this Grant; provided,
         however, that the Company shall not be required to pay any tax which
         may be payable in respect of any transfer involved in the registration
         of any certificates for Shares or New Grants in a name other than that
         of the Holder. The Holder shall be responsible for all other tax
         liability that may arise as a result of holding or transferring this
         Grant or receiving Shares upon exercise hereof.

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9.       REPLACEMENT OF GRANT.

                  If this Grant is mutilated, lost, stolen or destroyed, the
         Company shall issue or cause to be issued in exchange and substitution
         for and upon cancellation hereof, or in lieu of and substitution for
         this Grant, a New Grant, but only upon receipt of evidence reasonably
         satisfactory to the Company of such loss, theft or destruction and
         indemnity, if requested, satisfactory to it. Applicants for a New Grant
         under such circumstances shall also comply with such other reasonable
         regulations and procedures and pay such other reasonable charges as the
         Company may prescribe.

10.      RESERVATION OF SHARES.

                  The Company covenants that it will at all times reserve and
         keep available out of the aggregate of its authorized but unissued
         shares of common stock of the Company 117,000 shares of Common Stock,
         solely for the purpose of enabling it to issue Shares upon exercise of
         this Grant as herein provided, the number of Shares which are then
         issuable and deliverable upon the exercise of this portion of the
         Grant, free from preemptive rights or any other actual contingent
         purchase rights of persons other than the Holder (taking into account
         the adjustments and restrictions of Section 11). If and when an
         additional 132,000 authorized but unissued share of common stock become
         available for reservation pursuant to this Grant, the Company will
         reserve and keep available out of the aggregate of its authorized but
         unissued shares of common stock of the Company these shares and solely
         for the purpose of enabling it to issue Shares upon exercise of this
         Grant as herein provided, the number of Shares which are then issuable
         and deliverable upon the exercise of this remaining portion of the
         Grant, free from preemptive rights or any other actual contingent
         purchase rights of persons other than the Holder (taking into account
         the adjustments and restrictions of Section 11). The Company covenants
         that all Shares that shall be so issuable and deliverable shall, upon
         issuance and the payment of the applicable Exercise Price in accordance
         with the terms hereof, are duly and validly authorized, issued and
         fully paid and nonassessable.

11.      CERTAIN ADJUSTMENTS.

                  The number of Shares issuable upon exercise of this Grant is
         subject to adjustment from time to time as set forth in this Section
         11.

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                  (a) If the Company, at any time while this Grant is
         outstanding, (i) shall pay a stock dividend (except scheduled dividends
         paid on outstanding preferred stock as of the date hereof which contain
         a stated dividend rate) or otherwise make a distribution or
         distributions on shares of its common stock or on any other class of
         capital stock payable in shares of common stock of the Company, (ii)
         subdivide outstanding shares of common stock into a larger number of
         shares, or (iii) combine outstanding shares of common stock into a
         smaller number of shares, then the number of Shares for which this
         Grant may be exercised will be ratably adjusted. Any adjustment made
         pursuant to this Section 11 shall become effective immediately after
         the record date for the determination of stockholders entitled to
         receive such dividend or distribution and shall become effective
         immediately after the effective date in the case of a subdivision or
         combination, and shall apply to successive subdivisions and
         combinations.

                  (b) In case of any reclassification of the shares of the
         common stock of the Company, any consolidation or merger of the Company
         with or into another person, the sale or transfer of all or
         substantially all of the assets of the Company or any compulsory share
         exchange pursuant to which the shares of common stock of the Company is
         converted into other securities, cash or property, then the Holder
         shall have the right thereafter to exercise this Grant only into the
         shares of stock and other securities and property receivable upon or
         deemed to be held by holders of shares of common stock of the Company
         following such reclassification, consolidation, merger, sale, transfer
         or share exchange, and the Holder shall be entitled upon such event to
         receive such amount of securities or property equal to the amount of
         Shares such Holder would have been entitled to had such Holder
         exercised this Grant immediately prior to such reclassification,
         consolidation, merger, sale, transfer or share exchange. The terms of
         any such consolidation, merger, sale, transfer or share exchange shall
         include such terms so as to continue to give to the Holder the right to
         receive the securities or property set forth in this Section 11(b) upon
         any exercise following any such reclassification, consolidation,
         merger, sale, transfer or share exchange.

                  (c) For the purposes of this Section 11, the following clauses
         shall also be applicable:

                  (i) RECORD DATE. In case the Company shall take a record of
         the holders of its shares of common stock for the purpose of entitling
         them (a) to receive a dividend or other distribution payable in shares
         of the common stock of the Company or in securities convertible or
         exchangeable into shares of common stock of the Company, or (b) to
         subscribe for or purchase shares of common stock of the Company or
         securities convertible or exchangeable into shares of common stock of
         the Company, then such record date shall be deemed to be the date of
         the issue or sale of the shares of common stock of the Company deemed

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         to have been issued or sold upon the declaration of such dividend or
         the making of such other distribution or the date of the granting of
         such right of subscription or purchase, as the case may be.

                  (ii) TREASURY SHARES. The number of shares of common stock of
         the Company outstanding at any given time shall not include shares
         owned or held by or for the account of the Company, and the disposition
         of any such shares shall be considered an issue or sale of shares of
         the common stock of the Company.

                  (d) All calculations under this Section 11 shall be made to
         the nearest cent or the nearest 1/100th of a share, as the case may be.

                  (e) If:

                  (i) the Company shall declare a dividend (or any other
         distribution) on its shares of common stock; or

                  (ii) the Company shall declare a special non-recurring cash
         dividend on or a redemption of its Common Stock; or

                  (iii) the Company shall authorize the granting to all holders
         of shares of the common stock of the Company rights or warrants to
         subscribe for or purchase any shares of capital stock of any class or
         of any rights; or

                  (iv) the approval of any stockholders of the Company shall be
         required in connection with any reclassification of the shares of
         common stock of the Company, any consolidation or merger to which the
         Company is a party, any sale or transfer of all or substantially all of
         the assets of the Company, or any compulsory share exchange whereby the
         shares of the common stock is converted into other securities, cash or
         property; or

                  (v) the Company shall authorize the voluntary dissolution,
         liquidation or winding up of the affairs of the Company,

         then the Company shall cause to be mailed to each Holder at their last
         addresses as they shall appear upon the records of the Company, at
         least 30 calendar days prior to the applicable record or effective date
         hereinafter specified, a notice stating (x) the date on which a record
         is to be taken for the purpose of such dividend, distribution,
         redemption, rights or warrants, or if a record is not to be taken, the
         date as of which the holders of shares of the common stock of the
         Company of record to be entitled to such dividend, distributions,
         redemption, rights or warrants are to be determined or (y) the date on

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         which such reclassification, consolidation, merger, sale, transfer or
         share exchange is expected to become effective or close, and the date
         as of which it is expected that holders of shares of the common stock
         of the Company of record shall be entitled to exchange their shares of
         common stock of the Company for securities, cash or other property
         deliverable upon such reclassification, consolidation, merger, sale,
         transfer, share exchange, dissolution, liquidation or winding up;
         PROVIDED, HOWEVER, that the failure to mail such notice or any defect
         therein or in the mailing thereof shall not affect the validity of the
         corporate action required to be specified in such notice.

12.      PAYMENT OF EXERCISE PRICE. The Holder may pay the Exercise Price in one
         of the following manners:

         (a)      CASH EXERCISE.  The Holder shall deliver immediately available
                  funds; or
         (b)      CASHLESS EXERCISE. The Holder shall surrender this Grant to
                  the Company together with a notice of cashless exercise, in
                  which event the Company shall issue to the Holder the number
                  of Shares determined as follows:

                  X= Y - [(Y*A)/B], where:

                  X= the actual number of Shares to be issued to the Holder.

                  Y= the number of Shares with respect to which this Grant is
                  being exercised.

                  A= the Exercise Price.

                  B= the closing sale price of shares of the common stock of the
                  Company on the American Stock Exchange on the Date of
                  Exercise, as reported in the Wall Street Journal.

         For purposes of Rule 144 promulgated under the Securities Act, it is
         intended, understood and acknowledged that the Shares issued in a
         cashless exercise transaction shall be deemed to have been acquired by
         the Holder, and the holding period for the Shares shall be deemed to
         have been commenced, on the issue date.

13.      FRACTIONAL SHARES. The Company shall not be required to issue or cause
         to be issued fractional Shares on the exercise of this Grant. The
         number of full Shares that shall be issuable upon the exercise of this
         Grant shall be computed on the basis of the aggregate number of vested
         Shares purchasable on exercise of this Grant so presented. If any
         fraction of a Share would, except for the provisions of this Section

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         11, be issuable on the exercise of this Grant, the Company shall pay an
         amount in cash equal to the Exercise Price multiplied by such fraction.

14.      REPLACEMENT OPTION GRANT. At any time prior to the Expiration Date,
         upon the written request of the Employee, the Company shall deliver to
         the Employee a replacement Stock Option Grant containing the identical
         terms hereof, except that such replacement Stock Option Grant shall set
         forth the portion of the Grant that then remains unexercised.

15.      NOTICES. Any and all notices or other communications or deliveries
         hereunder shall be in writing and shall be deemed given and effective
         on the earliest of (i) the date of transmission, if such notice or
         communication is delivered via facsimile at the facsimile telephone
         number specified in this Section 15 prior to 7:00 p.m. (New York City
         time) on a business day, (ii) the business day after the date of
         transmission, if such notice or communication is delivered via
         facsimile at the facsimile telephone number specified in this Section
         later than 7:00 p.m (New York City time) on any date and earlier than
         11:59 p.m. (New York City time) on such date, (iii) the business day
         following the date of mailing, if sent by nationally recognized
         overnight courier service, or (iv) upon actual receipt by the party to
         whom such notice is required to be given. The addresses for such
         communications shall be: (i) if to the Company, to 10306 Eaton Place,
         Suite 220, Fairfax, Virginia 22030, Attention: Chief Financial Officer
         or (ii) if to the Holder, to the Holder at the address or facsimile
         number appearing on the records of the Company or such other address or
         facsimile number as the Holder may provide to the Company in accordance
         with this Section 15.

16.      TRANSFER AGENT. The Company shall serve as transfer agent under this
         Grant. Upon 30 days' notice to the Holder, the Company may appoint a
         new transfer agent. Any corporation into which the Company or any new
         transfer agent may be merged or any corporation resulting from any
         consolidation to which the Company or any new transfer agent shall be a
         party or any corporation to which the Company or any new transfer agent
         transfers substantially all of its corporate trust or shareholders
         services business shall be a successor transfer agent under this Grant
         without any further act. Any such new transfer agent shall promptly
         cause notice of its succession as transfer agent to be mailed (by first
         class mail, postage prepaid) to the Holder at the Holder's last address
         as shown on the records of the Company.

17.      MISCELLANEOUS.

                 (a) This Grant shall be binding on and inure to the benefit of
         the parties hereto and their respective successors and assigns. This
         Grant may be amended only in writing signed by the Company and the
         Holder and their successors and assigns,

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                 (b) Subject to Section 17(a), above, nothing in this Grant
         shall be construed to give to any person or corporation other than the
         Company and the Holder any legal or equitable right, remedy or cause
         under this Grant. This Grant shall inure to the sole and exclusive
         benefit of the Company and the Holder.

                 (c) This Grant shall be governed by and construed and enforced
         in accordance with the internal laws of the State of New York without
         regard to the principles of conflicts of law thereof.

                 (d) Any and all disputes arising out of this Grant will be
         determined by submission to binding arbitration before a three-member
         arbitral panel, which arbitration shall be conducted in New York, New
         York, pursuant to the Rules of Arbitration of the American Arbitration
         Association, the jurisdiction to which all parties hereto, as well as
         their successors, assigns and transferees, hereby consent. The Company
         shall pay all costs and fees relating to such arbitration, including
         the reasonable attorneys fees and costs of the Employee, including the
         deposit of a reasonable retainer to the Employee's legal counsel, which
         attorney fees shall be paid by the Company when they are incurred,
         unless an award is made in favor of the Company, in which case the
         Employee shall immediately reimburse the Company for all costs and fees
         paid by the Company on the Employee's behalf, including, without
         limitation, the attorneys fees and costs of the Employee, one-half of
         the cost of commencing the arbitration, and one-half of the costs and
         fees of the three-member arbitral panel.

                 (e) The headings herein are for convenience only, do not
         constitute a part of this Grant and shall not be deemed to limit or
         affect any of the provisions hereof.

                 (f) In case any one or more of the provisions of this Grant
         shall be invalid or unenforceable in any respect, the validity and
         enforceability of the remaining terms and provisions of this Grant
         shall not in anyway be affected or impaired thereby and the parties
         will attempt in good faith to agree upon a valid and enforceable
         provision which shall be a commercially reasonable substitute
         therefore, and upon so agreeing, shall incorporate such substitute
         provision in this Grant.

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              IN WITNESS WHEREOF, the Company has caused this Grant to be duly
executed by its authorized officer as of the date first indicated above.

                                   EUROTECH, LTD.

                                   By: /s/ Todd J. Broms
                                       -----------------------------------------
                                   Name:  Todd J. Broms
                                   Title: President and Chief Executive Officer

                                   AND

                                        /s/ Randolph A. Graves, Jr.
                                   ---------------------------------------------
                                   Name: Randolph A. Graves, Jr.
                                   Title:  Corporate Secretary

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                          FORM OF ELECTION TO PURCHASE

(To be executed by the Holder to exercise the right to purchase shares of common
stock of the Company under the foregoing Grant)

To Eurotech, Ltd.:

         In accordance with the Grant enclosed with this Form of Election to
Purchase, the undersigned hereby irrevocably elects to
purchase__________________ shares of common stock, par value $.00025 per share,
of Eurotech, Ltd. (the "COMMON STOCK") and, if such Holder is not utilizing the
cashless exercise provisions set forth in this Grant, encloses herewith
$_______________ in cash, certified or official bank check or checks, which sum
represents the aggregate Exercise Price (as defined in the Grant) for the number
of shares of Common Stock to which this Form of Election to Purchase relates,
together with any applicable taxes payable by the undersigned pursuant to the
Grant. The undersigned requests that certificates for the shares of Common Stock
issuable upon this exercise be issued in the name of

                         (Please print name and address)

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

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

PLEASE INSERT SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER

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

         If the number of shares of Common Stock issuable upon this exercise
shall not be all of the shares of Common Stock which the undersigned is entitled
to purchase in accordance with the enclosed Grant, the undersigned requests that
a New Grant (as defined in (the Grant) evidencing the right to purchase the
shares of Common Stock not issuable pursuant to the exercise evidenced hereby be
issued in the name of and delivered to:

                         (Please print name and address)

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

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

Dated: ___________                          Name of Holder:

                                            (Print)_________________________

                                            (By:) __________________________
                                            (Name:)
                                            (Title:)

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(Signature must conform in all respects to name of holder as specified on the
face of the Grant)

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                               FORM OF ASSIGNMENT

            [To be completed and signed only upon transfer of Grant]

         FOR VALUE RECEIVED, the undersigned hereby sells, assigns and
transfers unto __________________________________ the right represented by the
within Grant to purchase __________________ shares of Common Stock of Eurotech,
Ltd. to which the within Grant relates and appoints ___________________ attorney
to transfer said right on the books of Eurotech, Ltd. with full power of
substitution in the premises.

Dated:

-------------------, -------

                    ------------------------------------------------------------
                    (Signature must conform in all respects to name of holder as
                                             specified on the face of the Grant)

                                            --------------------------
                                            Address of Transferee

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

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

In the Presence of:

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

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                                    EXHIBIT A

                      Form of Selling Shareholder Agreement

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