EXH10-55


                       LONG TERM PREFORM SUPPLY AGREEMENT

This First Preform Supply Agreement ("Agreement ") is made and entered into this
25th of July 1996.

                                     BETWEEN

1.   FIBER OPTIC INDUSTRIES (PVT.) LIMITED,  a company  incorporated in Pakistan
     with its principal place of business at 74-B Nazimuddin  Road, F-8/4 Sector
     Islamabad Pakistan, referred as the "Buyer" or the "Company" hereafter.

                                       AND

2.   FIBERCORE,  INC., an American  Company with its principal place of business
     at 174 Charlton Road,  Sturbridge,  Mass.  01566 hereafter  referred as the
     "Seller."

                                    RECITALS

WHEREAS

A.   The Company is being formed to  manufacture  optical  fiber and  fiberoptic
     cable (the "Products");

B.   The Seller has offered to supply raw materials  including  Optical Preforms
     specified as INFOGLAS  1G-09/125 shown in the three page Appendix  attached
     herewith and has committed to a twenty year supply of Preform  requirements
     of the Company that the Buyer has agreed to

C.   The Buyer is willing to purchase these preforms on the terms and conditions
     set forth herein;

NOW THEREFORE, the parties hereto agree as follows:

1.       OBJECT OF THE AGREEMENT

         1.1 The Buyer  agrees to purchase  from the Seller for twenty years and
the  Seller  agrees  to sell to the Buyer the  Preforms  manufactured  under the
patented of FiberCore  from its  manufacturing  facility at Jena Germany or from
another location.

         1.2 The Seller  agrees to ship  Preforms in time for testing of Buyer's
machinery and equipment for speedy implementation of optical fiber manufacturing
plant;  The Seller further agrees to supply preforms for a twenty year period on
prices and delivery terms to be negotiated on a yearly basis.


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         1.3 The Buyer agrees to purchase  First Run Preforms as the first phase
purchases  for  year 1 only  for its  current  manufacturing  needs  and not for
purposes of inventory or resale.
2.       PRICE

         2.1 The price for  "First  Run  Preforms"  needed to test the plant and
machinery and initial production is fixed at US$4,500 per single mode preform as
per attached specifications in Appendix:

         2.2 The price for  "First  Run  Preform"  shall be US$1.2  Million  (US
Dollars One Million and Two Hundred  Thousand only) FOB Frankfurt  Airport which
covers (266.67) rods at an average cost of US$4,500 per rod.

3.       PAYMENT

         3.1 The order for the "First Run Preform" valued at US$1.2 Million will
be structured as follows:

         3.1.1 10% advance payment against ($120,000) advance payment guarantee;

         3.2.2 Open a letter of Credit for  US$1,080,000  covering  90% of total
value of supplies  valid for a period of 6 months  from date of issuance  and to
allow for payment in full upon FOB Delivery of Preforms  with deposit of Bill of
Landing and Seller's Invoice;

         3.1.3.  The  irrevocable  Letter  of  Credit  will  allow  for  partial
shipments  for a  minimum  quantity  of 75 rods  per  shipment  and in form  and
substance that is acceptable to the Seller and its Bank.

         3.2 All payments will be made to ALT/FiberCore Account No. 936344170 at
Fleet Bank of Massachusetts, N.A. (ABA Routing No. 011000138), USA;

         3.3 All  payments  of any  nature  under this  Agreement  shall be made
without any deduction or withholding  whatsoever unless the Buyer is required by
the specific Law of the Government of Pakistan.

4.       SITE AND TERMS OF DELIVERY

         4.1 The timely  availability  of the "First Run Preform" is  contingent
upon the issuance of the Letter of Credit in accordance with 3.1;

         4.2 Shipments for future  requirements of the Buyer can be met from the
other  FiberCore  locations  at terms to be  agreed  upon by the  Parties  under
separate contract;

         4.3 All  unadjusted  advance  payments  made under the contract will be
refunded to the Buyer in all cases  where the  Supplier is unable to fulfill its
commitments.


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5.       TESTING OF THE PREFORMS

         Seller's  representatives  shall be  present  for all  inspections  and
testing of Preforms both at the Manufacturing site and at the Buyer's building.

6.       WARRANTY

         The Seller shall be responsible for making good by replacement,  at its
expense,  any  defective  preform  which may be  identified  during  the  period
commencing  on the date of shipment of the Preform and ending twelve (12) months
after the preforms have been  received by the buyer  provided the defect was not
due to any wrongful act or omission on the part of the Buyer.

7.       FORCE MAJEURE

         Neither pat shall be liable for the delays or  non-performance  of this
Agreement due to acts of God, war,  Government decrees,  labor disturbances,  or
an) other cause beyond the control of that party.

8.       GOVERNING LAW AND DISPUTE RESOLUTION

         This  Agreement  shall be governed by and construed in accordance  with
the laws of Pakistan.  However,  nothing in this Agreement shall be construed to
require the Seller to take or omit to take any action if such act or omission is
contrary to the laws s of the United States of America and Germany.

9.       NOTICES

Any notices given hereunder shall be deemed to be sufficiently given if they are
in writing and delivered by facsimile or by postpaid  registered mail or through
international courier sent as follows:

         If to the Seller               FiberCore
                                        174 Charlton Road
                                        Sturbridge, Mass. 01566
                                        Tel. (508) 347-7744
                                        FAX: (508) 347-2778
                                        Attention:  Mr. Charles DeLuca

         If to the Buyer                Fiber Optic Industries ( PUT.) Limited
                                        74-B Nazimuddin Road
                                        F-8/4 Sector Islamabad, Pakistan
                                        Tel. (508) 853520
                                        Fax. (508) 256047
                                        Attention: Sayed Ijaz Husain Shah


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10.      TERM AND TERMINATION OF THIS AGREEMENT

         10.1 This  Agreement  shall be effective  as of the date first  written
above.  Unless  canceled,  modified or terminated under the provisions set forth
below, this Agreement shall continue in force for an initial period of ten years
and will be  renewable  for  another  ten years with the mutual  consent of both
parties.

         10.2  Without  prejudice  to any other right or remedy  available to it
either party shall have the right to terminate this Agreement:

         10.2.1 If the Buyer  commits a  material  breach of this  Agreement  by
offering to purchase  from a  competitor  and such breach is not cured within 30
days of a written notice; or

         10.2.2 Conditions of Force Majeure prevail for more than a year; or

         10.2.3 The other party becomes bankrupt or ceases to continue business.

         IN WITNESS  WHEREOF,  the  parties  have caused  this  Agreement  to be
executed by their duly authorized representatives.

for FiberCore, Inc.                               for FiberOptic Industries

NAME:  Charles DeLuca                             NAME:  M. Mahmud Awan

TITLE:   Vice President Business Dev.             TITLE:  Chairman/CEO

___/s/_______________________________              ___/s/_______________________


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APPENDIX I

PREFORM SUPPLY AGREEMENT

TABLE


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TABLE

INFOGLAS IG-09/125 TARGET FIBER SPECIFICATION


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TABLE

INFOGLAS IG-09/125

MASS - INSERT