CORPORATE SEPARATION AGREEMENT AND MUTUAL GENERAL RELEASES

      THIS CORPORATE SEPARATION AGREEMENT AND MUTUAL GENERAL RELEASES (this
"Agreement") is made and entered into as of this 12th day of July, 2002 by and
among KELLY FIELDER ("Fielder"), VERA NEATE ("Neate"), CHARLES EVANS ("Evans"),
KENT COUILLARD ("Couillard"), J. HATZIKALFAS ("Hatzikalfas"), JOHN COOPER
("Cooper"), MARACAIBO, LTD. ("Maracaibo"), SPECTRUM MEDITECH INC. ("Spectrum"),
E.M. (MICK) KOLASSA ("Kolassa"), BILL LOBB ("Lobb"), DOUG PAUL ("Paul"), KEVIN
PATTERSON ("Patterson"), (collectively, the "Shareholders") and SETI CORP., a
Delaware corporation and wholly-owned subsidiary of the Company ("Sharps") on
the one hand, and SHARPS ELIMINATION TECHNOLOGIES, INC., a Delaware corporation
(formerly ASPI Europe, Inc.) (the "Company"), on the other hand.

                                    RECITALS

      A.    The Company is a reporting  company under the Securities  Exchange
Act of 1934, as amended.

      B. Pursuant to a Stock Purchase Agreement by and among the Company, Sharps
and the Shareholders dated March 26, 2002 (the "Purchase Agreement"), the
Company purchased all of the issued and outstanding shares of Sharps (the
"Sharps Shares") from the Shareholders in consideration for the issuance to the
Shareholders of 15,800,000 shares of the Company's common stock (the "Company
Shares").

      C.    The  parties  hereto  wish to  reverse  the  share  exchange  made
pursuant to the Purchase Agreement.

      D. Each of the parties hereto desires to enter into a full and final
settlement and mutual general release of each and all claims each party has
against the other parties.

      NOW, THEREFORE, in consideration of the promises hereinafter set forth and
for good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged, the parties agree as follows:

1.    SHARE CANCELLATION AND WIRE TRANSFER.
      ------------------------------------

    1.1   Effective as of the Closing Date the Shareholders assign and surrender
to the Company for immediate cancellation all right title and interest they have
to the 15,800,000 shares of the Company's common stock (the "Shares").

    1.2   Effective as of the Closing Date the Company assigns all right, title
and interest to the Sharps Shares to the Shareholders.

   1.3   As additional consideration for the return and surrender of the Shares,
the Company hereby agrees to pay to the trust account of Hart & Trinen  ("Hart")

<PAGE>


an amount equal to US$25,000,  by wire transfer of immediately  available funds,
which  funds will be applied to pay for the  outstanding  fees owing to Hart and
for the costs  associated with the completion of this Agreement.  This Agreement
will be null and void if this amount is not received by Hart by July 16, 2002.


2.    LIABILITIES OF SHARPS.

      2.1   Effective as of the Closing Date

      (i)   Sharps  will  retain  all  accounts   payables  except  for  those
payables listed in Schedule "A" attached hereto,

      (ii)  The Company will retain the obligation  for those payables  listed
in Schedule "A" attached hereto; and

      (iii) The Company assigns its rights to the agreements listed on Exhibit B
and Sharps will assume all obligations associated with such agreements and
indemnify and hold the Company harmless from any and all claims arising from or
related to such agreements.

      2.2 The Company shall in no way indemnify Sharps nor shall it accept any
obligation on behalf of Sharps with respect to its payables, except for those
payables listed in Schedule "A" attached hereto.

3.    REPRESENTATIONS  AND WARRANTIES OF THE  SHAREHOLDERS.  The  Shareholders
represent and warrant as follows:

      3.1 All Company Shares owned by the Shareholders are owned free and clear
of all liens, charges, encumbrances and security interests.

      3.2   The  Shareholders do not beneficially own any of the assets of the
Company.

      3.3 Except as set forth in this Agreement, the Company does not have any
liability or obligation, contingent or otherwise, to the Shareholders.

      3.4 The Shareholders do not have any options, warrants or other rights to
acquire any of the Company's shares.

      3.5 No person has any option, warrant or other right to acquire any of the
Company's Shares from the Shareholders.

      3.6 There are no actions, suits or proceedings pending or threatened
against or affecting the Shareholders with respect to the Company Shares.

4.    REPRESENTATIONS  AND  WARRANTIES  OF THE  COMPANY.  The  Company  hereby
  represents and warrants as follows:


<PAGE>

      4.1 The Company is a corporation duly organized, validly existing and in
good standing under the laws of the State of Delaware.

      4.2 The Company hereby acknowledges that it is a holding company and that
Sharps is its sole operating subsidiary. The Company also hereby acknowledges
that Sharps owns all rights, title and interest in and to the operating assets
of Sharps.

      4.3 The Company hereby undertakes to obtain all required corporate and
shareholder consents to the transactions contemplated in this Agreement.

5.    CLOSING DATE.
      ------------

      5.1 The Closing Date shall be the 20th day after the Information Statement
required by Rule 14 c-2 of the Securities and Exchange Commission has been
mailed to the Company's shareholders.

      5.2   On the Closing Date,  and without any further  action by any party
to this Agreement

      (i)   The  assignment  and  surrender  of  the  Shares  contemplated  by
Section 1.1 will be effective.

      (ii) The assignment of the Sharps Shares contemplated by Section 1.2 will
be effective.

      (iii) The assumption of the payables, the assignment of the agreements,
the assumption of the obligations relating to the agreements and the related
indemnification contemplated by Section 2.1 will be effective,

      (iv) Kelly Fielder will appoint Jess Parker to be a director of the
Company and following such appointment Kelly Fielder will resign as an officer
and director of the Company.

6.    RELEASE OF CLAIMS.
      -----------------

   (a)  Mutual Release.  In consideration of and conditioned upon receipt of the
full and complete  consideration  and  performance  of all  conditions set forth
herein,  the Company,  Sharps and the  Shareholders  shall mutually release each
other,  their  past,  present  or  future  parent  corporations,   subsidiaries,
predecessors,  affiliates, partners, successors, assigns, associates, employees,
independent  contractors,   officers,   directors,   shareholders,   agents  and
attorneys,  whether de facto or de jure, and any of their successors and assigns
and legal representatives, and any of their heirs, executors, administrators, or
any  person  claiming  by,  through,  or on behalf of any of them,  in  whatever
capacity, either personal or representative,  and each of them, from any and all
manner  of  action  or  actions,  cause  or  causes  of  action,  suits,  debts,
liabilities,  demands,  agreements,  sums  of  money  in  controversy,  damages,
accounts,  reckonings  and  liens of every  kind or nature  whatsoever,  whether
known, suspected or unsuspected,  which they shall have, own or hold, which they
at any time heretofore had, owned or held, or could, shall or may hereafter own,
or hold, by reason of, arising out of, or in connection  with such matters which
relate to or in any way arise  out,  or could  relate to or arise out of,  their


<PAGE>

business relationship to the date of this Agreement  (collectively,  the "Claim"
or "Claims").  From and after the date hereof, neither the Company,  Sharps, nor
the Shareholders,  nor their successors or assigns,  shall have any Claim of any
kind or nature on or against  each other,  their legal  successors  and assigns,
their heirs, executors, administrators, and personal representatives, employees,
or agents directly or indirectly on any such matter or cause,  fact,  thing, act
or omission existing,  done or admitted to be done at any time whatsoever to and
including the date hereof, on matters related to or in any way arising out of or
which could relate to or arise out of their business relationship to the date of
this Agreement, but excluding their obligations hereunder.

   (b)  Future Claims.  Except as to the executory provisions of this Agreement,
the  parties  each  acknowledge  that  they are aware of the fact that it is the
intention of the parties  hereto,  in which intention each of the parties agree,
that, upon execution by the parties, this Agreement shall be effective as a full
and final accord and  satisfaction in settlement of and as a bar to, any and all
Claims heretofore  referred to and released which any party hereto has, may have
in the future,  or has had against the other party hereto.  In  connection  with
such waiver and  relinquishment,  the parties  hereto  acknowledge  that each is
aware that they or their  attorneys may hereafter  discover facts different from
or in addition  to,  facts known and  believed  true with respect to the subject
matter of this Agreement, but that it is each party's intention hereby to fully,
finally,  absolutely and forever settle any and all Claims,  heretofore referred
to,  disputes  and  differences  which do exist,  may exist or  heretofore  have
existed between any of the parties to this Agreement and that, in furtherance of
such intention,  the releases herein given shall be and remain in effect as full
and complete  releases,  notwithstanding  the discovery of any such different or
additional facts.  Therefore,  each of the parties hereto  acknowledge that each
has been informed by their  respective  attorneys and advisors of, the effect of
the releases

      Each of the parties does hereby waive and relinquish all rights and
benefits each has or may have under any laws of the State of Delaware which may
provide in general terms the following:

            "A general release does not extend to claims which the creditor does
            not know or suspect to exist in his favor at the time of executing a
            release, which if known by him must have materially affected his
            settlement with the debtor."

      to the fullest extent that each may lawfully waive such rights and
benefits pertaining to the subject matter of this Agreement, and acknowledges
that this waiver is a material inducement to the other party's execution of the
Agreement.

7. NO PENDING OR FUTURE LAWSUITS. Each of the parties hereto represents that he
or it has no lawsuits, claims or actions pending in his or its name, or on
behalf of any other person or entity, against the other parties or any other
person or entity referred to herein. Each of the parties hereto also represents
that he or it does not intend to bring any claims on his or its own behalf or on
behalf of any other person or entity against the other parties hereto or any
other person or entity referred to herein.


<PAGE>

8. NO ADMISSION OF LIABILITY. No action by the parties hereto, either previously
or in connection with this Agreement, shall be deemed or construed to be an
admission of the truth or falsity of any matter pertaining to any Claim referred
to herein or relating to the subject matter of this Agreement, or an
acknowledgment by any of the parties of any liability to the other parties
hereto, or to any other person.

9. CONFIDENTIALITY. The parties and their attorneys expressly agree that they
shall keep the terms and conditions of this Agreement confidential, and that
neither the parties, nor their attorneys, agents or employees, shall disclose
those terms and conditions to any other person unless compelled by law to do so;
provided, however, that they may disclose the terms and conditions of this
Agreement to tax or financial advisors and to legal counsel, on condition that
each of those individuals expressly agrees not to disclose the terms and
conditions of this Agreement to anyone else.

10. SUCCESSORS AND ASSIGNS. The provisions of this Agreement shall be binding
and extend to and inure to the benefit of the partners, employees, legal
successors, assigns, heirs, executors, and administrators of each of the
parties, including, without limitation, any partnerships, corporations or other
entities in which any of them have a controlling interest or position, and shall
also be binding upon their agents, servants, representatives, attorneys and
persons acting for them or on their behalf.

11. COMPLETE DEFENSE. This Agreement may be used by any one or more of the
parties hereto as a full and complete defense to, and the parties hereby consent
that it may be used as the basis for an injunction against, any action, suit or
other proceeding based on any Claim released by this Agreement as to any one or
more of the parties.

12. ENTIRE AGREEMENT. This Agreement is the entire agreement between the parties
hereto relating to the subject matter hereof and supersedes and replaces all
prior negotiations or proposed agreements, written or oral, relating thereto.
Each of the parties hereto acknowledges that no other party, nor any agent or
attorney of any other party, has made any promise, representation or warranty
whatsoever, express or implied, not contained herein concerning the subject
matter hereof, to induce them to execute this Agreement in reliance upon any
such promise, representation or warranty not contained herein. No provision of
this Agreement may be amended or added hereto except by an agreement in writing
signed by all parties hereto or their respective successors-in-interest.

13. REPRESENTATIONS OR WARRANTIES. Each of the parties represents and warrants
that (1) he or it is the sole and absolute owner of the Claim or Claims and that
he or it has not heretofore nor will in the future, assign or transfer or
purport to assign or transfer to any person or entity, either voluntarily or
involuntarily, the Claim or Claims, or portion thereof; (2) that each party has
full authority to release and forever discharge the Claim or Claims and to
execute this Agreement and bind himself or itself to this Agreement by execution
hereof; and (3) that to the best of his or its knowledge, the execution and
delivery of this Agreement will not violate any agreement, court order,
administrative order of any governmental entity, or any law or governmental
regulation.



<PAGE>

14.   TIME IS OF THE  ESSENCE.  Time is of the  essence as to the  performance
 of all obligations herein.

15. COUNTERPARTS; SEVERANCE. This Agreement may be executed in any number of
counterparts, including electronically transmitted counterparts, and if so
executed, each such counterpart shall have the same force and full effect of an
original. If any term or provision of this Agreement is determined to be invalid
or unenforceable, the remaining terms and provisions shall not be affected
thereby and shall remain in full force and effect to the maximum extent
permitted by law.

16.   SURVIVAL.   All  the   agreements,   representations,   warranties   and
obligations  of the  parties  set forth in this  Agreement  shall  survive the
execution of this Agreement.

17.   CHOICE OF LAW. This Agreement  shall be governed by and construed  under
the laws of the  State of  Delaware,  without  regard to its  conflict  of law
rules.

18. ATTORNEYS' FEES; ARBITRATION. In the event that a dispute arises between the
parties regarding or relating to this Agreement, the prevailing party shall be
entitled to recover the full amount of their attorneys' fees, expert fees and
costs incurred in connection with such dispute. Any dispute between the parties
hereof shall be submitted to arbitration under the rules of the American
Arbitration Association in the office of such association handling matters
arising in the City and County of Denver, State of Colorado.

19.   GOOD  FAITH.  The  parties  shall act  reasonably  and in good  faith in
carrying out all terms and conditions contained in this Agreement.

20. REPRESENTATION BY COUNSEL. Each party hereto acknowledges and represents to
the other that he or it has had the advice of attorneys of its own choosing in
connection with the evaluation of the dispute and the negotiation and execution
of this Agreement, and has had an adequate opportunity to consider this
Agreement, understand it and voluntarily accept its terms.



<PAGE>


      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first set forth above.

                                                "Company"

                                           Sharps EliminationTechnologies Inc.,
                                                a Delaware corporation

                                                By: /s/
                                                   ---------------------------
                                                Name: Kelly Fielder
                                                Its: President


                                                "Sharps"

                                                SETI Corp.
                                                a Delaware corporation


                                                By: /s/
                                                   ----------------------------
                                                Name: Kelly Fielder
                                                Its: President

                                                "Shareholders"


                                                /s/
                                                ------------------------------
                                                Kelly Fielder


                                                /s/
                                                ------------------------------
                                                Vera Neate


                                                /s/
                                                ------------------------------
                                                Charles Evans


                                                /s/
                                                ------------------------------
                                                Kent Couillard





<PAGE>


                                                /s/
                                                ------------------------------
                                                J. Hatzikalfas


                                                /s/
                                                ------------------------------
                                                John Cooper


                                                /s/
                                                ------------------------------
                                                Maracaibo, Ltd.


                                                /s/
                                                ------------------------------
                                                Spectrum Meditech Inc.


                                                /s/
                                                ------------------------------
                                                E.M. (Mick) Kolassa


                                                /s/
                                                ------------------------------
                                                Bill Lobb


                                                /s/
                                                ------------------------------
                                                Doug Paul


                                                /s/
                                                ------------------------------
                                                Kevin Patterson




<PAGE>



                                  SCHEDULE "A"
                   List of Payables Obliged by The Company


DTC Invoice           $ 1,880.00
CDS Invoice             2,868.69 (CDN)
Interwest Transfer        166.60
Newswire                  690.00
BDO                     5,000.00
Bce emerges             1,500.00
Company Corporation       150.00

Total:                $13,755.29 (USD)











<PAGE>


                                    EXHIBIT B



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