EXH10-27

                        SHARE PURCHASE AMENDING AGREEMENT


         THIS  AGREEMENT  made this 15th day of  September  between  MIDDLE EAST
SPECIALIZED  CABLES CO.  ("the  Purchaser")  and  FIBERCORE  INCORPORATED  ("the
Company") a Nevada Corporation.

         WHEREAS the Purchaser  entered into a Share  Purchase  Agreement of the
13th day of April  1995 for the  purchase  200,000  shares of the  Company  upon
certain  terms  and  conditions  as more  particularly  set  forth  in the  said
agreement;

         AND WHEREAS the Company  amalgamated with Venturecap,  Inc. pursuant to
the terms of an agreement and plan of reorganization  dated the 18th day of July
1995;

         WHEREAS  pursuant to terms of the  amalgamation  agreement  and plan of
reorganization  the authorized  share capital of Venturecap  Inc. at the time of
the merger would be increased to 100,000,000 Common shares and 10,000,000 shares
of  preferred  stock  with a par value of $.001 per share and the  shares of the
shareholders  of  FiberCore   Incorporated  would  be  converted  to  shares  of
Venturecap  Inc. on an exchange  ratio of 3.6713070 of Venturecap  Inc. for each
share of FiberCore Incorporated held;

         AND  WHEREAS the shares of the Company  which the  Purchaser  agreed to
purchase pursuant to the April 13th Agreement have not yet been issued and it is
desirable to clarify and define the number or shares and warrants which will now
be  issued  to the  Purchaser  as a  result  of the  merger  and  alteration  in
authorized share capital of the merged company.

         NOW THEREFORE in consideration of the premises and the mutual covenants
and agreements herein contained the parties agree as follows:

1.  SECTION 1 of the  Agreement of April 13th 1995 between the parties is hereby
amended by deleting  Sections 1 "Offer",  Section 2  "Acceptance"  and Section 3
"Delivery of Shares and Warrants" and substituting the following new Sections 1,
2 and 3 therefor:

                  Offer

         1.1      The  Purchaser  hereby  agrees to  subscribe  for and purchase
                  734,262  shares  of the  Company  at  the  purchase  price  of
                  $1.36191  in two blocks of 367,131  and shares  subject to the
                  conditions hereinafter set forth.

         1.2      Upon  execution and delivery of this agreement by both parties
                  the  Purchaser  will pay to the  Company  the sum of  $500,000
                  against  delivery of the first block of 367,131  shares of the
                  Company subject to the terms and conditions of this offer (the
                  "first closing").


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         1.3      Upon  acceptance  of the offer and in addition to the delivery
                  of the  367,131  shares of  FiberCore  to the  Purchaser,  the
                  Company shall:

                  a)       deliver into escrow  312,061  shares of the FiberCore
                           in  consideration  of the  Purchaser and its partners
                           agreeing  to enter into a contact  for the  exclusive
                           supply  of  FiberCore  products  to  the  MEFC  Joint
                           Venture.  The  escrowed  shares are to be released to
                           the Purchaser  upon the  completion  and execution of
                           the product supply  contract  between the Company and
                           MEFC;

                  b)       deliver into the escrow  550,696  warrants,  granting
                           the  Purchaser the right to purchase  550,696  common
                           shares of FiberCore Incorporated for a purchase price
                           of $1.63429 per share exercisable in whole or in part
                           at any time  within  a 2 year  period.  The  escrowed
                           warrants are to be delivered as further consideration
                           for the Purchaser and its partners  agreeing to enter
                           into  the  contract  for  the  exclusive   supply  of
                           FiberCore  products  to the MEFC Joint  Venture.  The
                           warrants  are  to  be  delivered  to  the   Purchaser
                           immediately following execution of the product supply
                           agreement by the MEFC Joint Venture;

                  c)       deliver into escrow 238,635 shares of FiberCore to be
                           released  to  the  Purchaser   immediately  upon  the
                           Purchaser  exercising  its rights to purchase  shares
                           pursuant to the terms of the warrants  referred to in
                           clause 1.3 (b).

         1.4      The offer for the second block of shares is  conditional  upon
                  the parties hereto  reaching an agreement as to the terms of a
                  joint venture  company,  Middle East Fiber Cables Co. ("MEFC")
                  to be formed in the  Kingdom of Saudi  Arabia to engage in the
                  manufacture  and sale of fiber optic  products and to sell and
                  distribute  such products  throughout the Middle East,  Africa
                  and Turkey.

         1.5      Upon  execution  by all of the  partners of MEFC of all of the
                  documents  required  to  complete  the  formation  MEFC and to
                  define the respective interest, obligation and restrictions on
                  each of the joint  venture  partners  including  the exclusive
                  product supply agreement with the Company,  the Purchaser will
                  pay  to the  Company  the  further  sum  of  $500,000  against
                  delivery of the second block of 367,131  Shares subject to the
                  terms and conditions of this offer (the "second  closing") and
                  the Vendor shall cause to be delivered to the Purchaser:

                  a)       the  312,061  shares of the  Company  referred  to in
                           clause 1.3 (a);

                  b)       the 550,696 warrants referred to in clause 1.3 (b);

                  c)       confirmation  by the escrow  agent  that the  238,635
                           shares of the  Company  are being held for release to
                           the  purchaser   pending  exercise  of  the  warrants
                           referred to in clause 1.3 (b).


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                  Acceptance

         2.1      The Company agrees to sell to the Purchaser  734,264 Shares at
                  the subscription  price of $1.36191 per Share in two blocks of
                  367,132  Shares each  subject to the terms and  conditions  of
                  this offer and to deliver  the  312,061  shares of the Company
                  referred to in clause 1.3(a), the 550,696 warrants referred to
                  in clause 1.3(b) and the 238,635 shares  referred to in clause
                  1.3(c) to the Escrow  Agent  approved  by the  Purchaser.  The
                  company further agrees that upon receipt of the purchase price
                  for the second block of 367,131  Shares,  the entire amount of
                  the said purchase  price  ($500,000.00)  for the said block of
                  shares shall be invested in MEFC as a capital  contribution to
                  the joint  venture by Company of its wholly  owned  subsidiary
                  and the Company or its subsidiary shall acquire a 15% interest
                  in MEFC upon payment of the said funds.

                  Delivery of Shares and Warrants

         3.1      At the first  closing upon  payment of the purchase  price for
                  the first block of 357,131  shares,  the Company shall deliver
                  to the Purchaser one or more stock certificates  registered in
                  the name of the Purchaser,  an executed escrow agreement and a
                  confirmation  from the  Escrow  Agent  that the shares and the
                  warrants  referred to in clause 1.3 have been delivered to the
                  escrow  agent  for  release  pursuant  to the  terms  of  this
                  Agreement.  Within  two  business  days  prior  to  the  first
                  closing,  the Purchaser shall notify the Company in writing of
                  the  names  in  which  all  shares  and  warrants  are  to  be
                  registered.

         3.2      At the second  closing  and upon the  payment of the  purchase
                  price for the  second  block for  Shares,  the  Company  shall
                  deliver  to the  Purchaser  one  or  more  stock  certificates
                  registered  in the name of the  Purchaser  or in such  name or
                  names as may be  designated  by the  Purchaser and delivery of
                  the  shares  referred  to in clause  1.3(a)  and the  warrants
                  referred  to in clause  1.3(b)  registered  in the name of the
                  Purchaser or in such name or names as may be designated by the
                  Purchaser.

2. All other terms, warranties and representations contained in the agreement of
April 13th,  1995 between the parties (other than the  representation  as to the
authorized  capital of the company which has been increase to 100,000,000 Common
shares and  10,000,000  shares of preferred  stock with a par value of $.001 per
share) are hereby confirmed and remain in full force and effect.


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         IN WITNESS WHEREOF that parties hereto have caused this Agreement to be
executed by their duly authorized  representatives  the day and year first above
written.

                                   MIDDLE EAST SPECIALIZED CABLES CO.

                                   per:___/s/______________________________

                                   FIBERCORE, INC.

                                   per:___/s/______________________________