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13

                          REGISTRATION RIGHTS AGREEMENT

     REGISTRATION  RIGHTS AGREEMENT (this "Agreement"), dated as of May 20, 2003
by  and  between  ASIA PROPERTIES INC., a Nevada corporation, with its principal
office  located  at  114  West  Magnolia  Street  -  Suite  400-115  Bellingham,
Washington  98225  (the "Company"), and CORNELL CAPITAL PARTNERS, LP, a Delaware
limited  partnership  (the  "Investor").

     WHEREAS:

A.     In connection with the Equity Line of Credit Agreement by and between the
parties  hereto  of  even date herewith (the "Equity Line of Credit Agreement"),
the  Company  has  agreed,  upon  the terms and subject to the conditions of the
Equity  Line  of Credit Agreement, to issue and sell to the Investor that number
of  shares  of  the  Company's  common  stock,  par value   $.001 per share (the
"Common Stock"), which can be purchased pursuant to the terms of the Equity Line
Credit  Agreement  for an aggregate purchase price of up to Five Million Dollars
($5,000,000)  .  Capitalized  terms  not  defined  herein shall have the meaning
ascribed  to  them  in  the  Equity  Line  of  Credit  Agreement.

B.     To  induce  the Investor to execute and deliver the Equity Line of Credit
Agreement,  the  Company has agreed to provide certain registration rights under
the  Securities  Act  of  1933,  as amended, and the rules and regulations there
under,  or  any  similar  successor  statute (collectively, the "1933 Act"), and
applicable  state  securities  laws.

NOW,  THEREFORE,  in  consideration  of  the  premises  and the mutual covenants
contained  herein  and  other  good  and valuable consideration, the receipt and
sufficiency  of  which  are  hereby  acknowledged,  the Company and the Investor
hereby  agree  as  follows:

1.     DEFINITIONS.

     As  used  in  this  Agreement, the following terms shall have the following
meanings:

a.     "Person"  means  a  corporation,  a  limited  liability  company,  an
association,  a  partnership,  an  organization,  a  business,  an individual, a
governmental  or  political  subdivision  thereof  or  a  governmental  agency.

b.     "Register,"  "registered,"  and  "registration"  refer  to a registration
effected by preparing and filing one or more Registration Statements (as defined
     below)  in  compliance with the 1933 Act and pursuant to Rule 415 under the
1933 Act or any successor rule providing for offering securities on a continuous
or  delayed basis ("Rule 415"), and the declaration or ordering of effectiveness
of  such  Registration Statement(s) by the United States Securities and Exchange
Commission  (the  "SEC").

c.     "Registrable  Securities"  means  the  shares of Common Stock issuable to
Investors  pursuant  to  the  Equity  Line  of  Credit  Agreement.

d.     "Registration  Statement"  means  a registration statement under the 1933
Act  which  covers  the  Registrable  Securities.

2.     REGISTRATION.

a.     Mandatory  Registration.  The Company shall prepare and file with the SEC
a  Registration  Statement  on  Form  S-1,  SB-2  or  on  such  other form as is
available.  The  Company  shall cause such Registration Statement to be declared
effective  by  the  SEC prior to the first sale to the Investor of the Company's
Common  Stock  pursuant  to  the  Equity  Line  of  Credit  Agreement.

b.     Sufficient  Number  of  Shares  Registered.  In  the  event the number of
shares  available  under a Registration Statement filed pursuant to Section 2(a)
is  insufficient  to  cover all of the Registrable Securities which the Investor
has purchased pursuant to the Equity Line of Credit Agreement, the Company shall
     amend  the Registration Statement, or file a new Registration Statement (on
the  short form available therefore, if applicable), or both, so as to cover all
of  such Registrable Securities which the Investor has purchased pursuant to the
Equity  Line  of  Credit  Agreement as soon as practicable, but in any event not
later  than fifteen (15) days after the necessity therefore arises.  The Company
shall  use  it  best  efforts  to  cause  such amendment and/or new Registration
Statement  to  become  effective  as  soon  as  practicable following the filing
thereof.  For  purposes  of  the  foregoing  provision,  the  number  of  shares
available  under a Registration Statement shall be deemed "insufficient to cover
all  of  the  Registrable  Securities"  if at any time the number of Registrable
Securities  issuable  on  an  Advance  Notice Date is greater than the number of
shares  available  for  resale  under  such  Registration  Statement.

3.     RELATED  OBLIGATIONS.

a.     The  Company  shall keep the Registration Statement effective pursuant to
Rule  415  at all times until the date on which the Investor shall have sold all
the  Registrable  Securities  covered  by  such  Registration  Statement  (the
"Registration  Period"),  which Registration Statement (including any amendments
or supplements thereto and prospectuses contained therein) shall not contain any
     untrue  statement  of  a  material  fact  or  omit to state a material fact
required  to  be stated therein, or necessary to make the statements therein, in
light  of  the  circumstances  in  which  they  were  made,  not  misleading.

b.     The  Company  shall  prepare  and  file  with  the  SEC  such  amendments
(including  post-effective  amendments)  and  supplements  to  a  Registration
Statement  and  the  prospectus  used  in  connection  with  such  Registration
Statement,  which  prospectus  is  to  be filed pursuant to Rule 424 promulgated
under  the  1933  Act,  as  may be necessary to keep such Registration Statement
effective  at all times during the Registration Period, and, during such period,
comply  with  the  provisions of the 1933 Act with respect to the disposition of
all Registrable Securities of the Company covered by such Registration Statement
     until  such  time  as  all  of  such Registrable Securities shall have been
disposed of in accordance with the intended methods of disposition by the seller
or  sellers thereof as set forth in such Registration Statement.  In the case of
amendments  and supplements to a Registration Statement which are required to be
filed  pursuant  to  this Agreement (including pursuant to this Section 3(b)) by
reason  of the Company's filing a report on Form 10-KSB, Form 10-QSB or Form 8-K
or  any  analogous  report under the Securities Exchange Act of 1934, as amended
(the  "1934  Act"), the Company shall have incorporated such report by reference
into the Registration Statement, if applicable, or shall file such amendments or
supplements  with  the SEC on the same day on which the 1934 Act report is filed
which  created  the  requirement  for  the  Company  to  amend or supplement the
Registration  Statement.

c.     The  Company  shall  furnish to the Investor without charge, (i) at least
one copy of such Registration Statement as declared effective by the SEC and any
amendment(s)  thereto,  including  financial  statements  and  schedules,  all
documents  incorporated  therein by reference, all exhibits and each preliminary
prospectus,  (ii)  ten  (10)  copies  of  the  final prospectus included in such
Registration Statement and all amendments and supplements thereto (or such other
number  of  copies as such Investor may reasonably request) and (iii) such other
documents  as such Investor may reasonably request from time to time in order to
facilitate the disposition of the Registrable Securities owned by such Investor.

d.     The  Company  shall  use its best efforts to (i) register and qualify the
Registrable  Securities  covered  by  a  Registration Statement under such other
securities  or "blue sky" laws of such jurisdictions in the United States as the
Investor reasonably requests, (ii) prepare and file in those jurisdictions, such
amendments  (including  post-effective  amendments)  and  supplements  to  such
registrations  and  qualifications  as  may  be  necessary  to  maintain  the
effectiveness  thereof  during  the  Registration  Period, (iii) take such other
actions as may be necessary to maintain such registrations and qualifications in
effect  at  all  times  during  the Registration Period, and (iv) take all other
actions  reasonably necessary or advisable to qualify the Registrable Securities
for sale in such jurisdictions; provided, however, that the Company shall not be
required  in  connection  therewith  or  as  a condition thereto to (w) make any
change  to  its  certificate  of  incorporation  or  by-laws,  (x) qualify to do
business in any jurisdiction where it would not otherwise be required to qualify
but  for  this  Section 3(d), (y) subject itself to general taxation in any such
jurisdiction,  or  (z)  file a general consent to service of process in any such
jurisdiction.  The  Company shall promptly notify the Investor of the receipt by
the  Company  of  any  notification  with  respect  to  the  suspension  of  the
registration  or  qualification  of  any  of the Registrable Securities for sale
under the securities or "blue sky" laws of any jurisdiction in the United States
or  its  receipt  of actual notice of the initiation or threat of any proceeding
for  such  purpose.

e.     As  promptly  as  practicable  after  becoming  aware  of  such  event or
development,  the  Company shall notify the Investor in writing of the happening
of  any  event  as  a  result of which the prospectus included in a Registration
Statement, as then in effect, includes an untrue statement of a material fact or
omission  to state a material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made,  not  misleading  (provided that in no event shall such notice contain any
material, nonpublic information), and promptly prepare a supplement or amendment
to such Registration Statement to correct such untrue statement or omission, and
deliver  ten  (10) copies of such supplement or amendment to each Investor.  The
Company shall also promptly notify the Investor in writing (i) when a prospectus
or  any  prospectus  supplement  or post-effective amendment has been filed, and
when  a  Registration  Statement  or  any  post-effective  amendment  has become
effective (notification of such effectiveness shall be delivered to the Investor
by  facsimile on the same day of such effectiveness), (ii) of any request by the
SEC  for  amendments  or  supplements  to  a  Registration  Statement or related
prospectus  or  related  information,  and  (iii)  of  the  Company's reasonable
determination  that a post-effective amendment to a Registration Statement would
be  appropriate.

f.     The  Company  shall  use  its best efforts to prevent the issuance of any
stop  order or other suspension of effectiveness of a Registration Statement, or
the  suspension  of  the  qualification of any of the Registrable Securities for
sale  in  any  jurisdiction  within the United States of America and, if such an
order  or  suspension  is  issued,  to  obtain  the  withdrawal of such order or
suspension  at  the  earliest  possible moment and to notify the Investor of the
issuance  of  such  order  and  the  resolution thereof or its receipt of actual
notice  of  the  initiation  or  threat  of  any  proceeding  for  such purpose.

g.     At  the  reasonable request of the Investor, the Company shall furnish to
the Investor, on the date of the effectiveness of the Registration Statement and
thereafter  from  time  to  time  on  such  dates as the Investor may reasonably
request  (i) a letter, dated such date, from the Company's independent certified
public  accountants in form and substance as is customarily given by independent
certified public accountants to underwriters in an underwritten public offering,
and  (ii) an opinion, dated as of such date, of counsel representing the Company
for  purposes of such Registration Statement, in form, scope and substance as is
customarily given in an underwritten public offering, addressed to the Investor.

h.     The  Company  shall make available for inspection by (i) the Investor and
(ii)  one  firm  of  accountants  or  other  agents  retained  by  the  Investor
(collectively,  the "Inspectors") all pertinent financial and other records, and
pertinent  corporate  documents and properties of the Company (collectively, the
"Records"), as shall be reasonably deemed necessary by each Inspector, and cause
the  Company's officers, directors and employees to supply all information which
any  Inspector  may  reasonably  request; provided, however, that each Inspector
shall  agree,  and  the Investor hereby agrees, to hold in strict confidence and
shall  not  make  any disclosure (except to an Investor) or use of any Record or
other information which the Company determines in good faith to be confidential,
and  of  which  determination  the  Inspectors  are  so notified, unless (a) the
disclosure  of  such  Records is necessary to avoid or correct a misstatement or
omission  in  any Registration Statement or is otherwise required under the 1933
Act,  (b)  the  release  of  such  Records  is  ordered  pursuant  to  a  final,
non-appealable  subpoena  or  order from a court or government body of competent
jurisdiction,  or  (c)  the  information in such Records has been made generally
available  to  the  public  other than by disclosure in violation of this or any
other  agreement  of  which  the  Inspector and the Investor has knowledge.  The
Investor  agrees that it shall, upon learning that disclosure of such Records is
sought  in  or  by  a  court  or  governmental body of competent jurisdiction or
through other means, give prompt notice to the Company and allow the Company, at
its  expense,  to  undertake  appropriate action to prevent disclosure of, or to
obtain  a  protective  order  for,  the  Records  deemed  confidential.

i.     The  Company  shall  hold  in  confidence  and not make any disclosure of
information  concerning  the  Investor  provided  to  the  Company  unless  (i)
disclosure  of  such  information  is  necessary to comply with federal or state
securities  laws,  (ii) the disclosure of such information is necessary to avoid
or  correct  a misstatement or omission in any Registration Statement, (iii) the
release  of  such  information is ordered pursuant to a subpoena or other final,
non-appealable  order  from  a  court  or  governmental  body  of  competent
jurisdiction,  or (iv) such information has been made generally available to the
public  other  than  by  disclosure  in violation of this Agreement or any other
agreement.  The  Company  agrees that it shall, upon learning that disclosure of
such  information  concerning  the  Investor  is  sought  in  or  by  a court or
governmental  body of competent jurisdiction or through other means, give prompt
written  notice  to  the  Investor  and  allow  the  Investor, at the Investor's
expense,  to undertake appropriate action to prevent disclosure of, or to obtain
a  protective  order  for,  such  information.

j.     The  Company  shall  use  its  best  efforts  either  to  cause  all  the
Registrable  Securities  covered by a Registration Statement (i) to be listed on
each  securities exchange on which securities of the same class or series issued
by  the  Company  are  then  listed,  if any, if the listing of such Registrable
Securities  is  then permitted under the rules of such exchange or to secure the
inclusion  for quotation on the National Association of Securities Dealers, Inc.
OTC  Bulletin  Board for such Registrable Securities.  The Company shall pay all
fees  and  expenses  in  connection  with  satisfying  its obligation under this
Section  3(j).

k.     The  Company  shall cooperate with the Investor to the extent applicable,
to  facilitate  the timely preparation and delivery of certificates (not bearing
any  restrictive  legend)  representing the Registrable Securities to be offered
pursuant  to a Registration Statement and enable such certificates to be in such
denominations  or  amounts,  as  the case may be, as the Investor may reasonably
request  and  registered  in  such  names  as  the  Investor  may  request.

l.     The  Company  shall  use  its  best  efforts  to  cause  the  Registrable
Securities  covered  by  the  applicable Registration Statement to be registered
with  or  approved  by such other governmental agencies or authorities as may be
necessary  to  consummate  the  disposition  of  such  Registrable  Securities.

m.     The  Company  shall  make  generally available to its security holders as
soon  as  practical,  but not later than ninety (90) days after the close of the
period  covered  thereby,  an  earnings  statement  (in  form complying with the
provisions  of  Rule  158  under  the  1933  Act) covering a twelve-month period
beginning  not  later  than  the  first day of the Company's fiscal quarter next
following  the  effective  date  of  the  Registration  Statement.

n.     The  Company  shall  otherwise  use  its  best efforts to comply with all
applicable  rules and regulations of the SEC in connection with any registration
hereunder.

o.     Within  two (2) business days after a Registration Statement which covers
Registrable  Securities  is  ordered  effective  by  the  SEC, the Company shall
deliver,  and  shall  cause  legal  counsel  for  the Company to deliver, to the
transfer  agent  for  such  Registrable Securities (with copies to the Investor)
confirmation that such Registration Statement has been declared effective by the
     SEC  in  the  form  attached  hereto  as  Exhibit  A.

p.     The Company shall take all other reasonable actions necessary to expedite
     and  facilitate  disposition  by  the  Investor  of  Registrable Securities
pursuant  to  a  Registration  Statement.

4.     OBLIGATIONS  OF  THE  INVESTOR.

     The  Investor  agrees  that, upon receipt of any notice from the Company of
the  happening  of  any event of the kind described in Section 3(f) or the first
sentence  of  3(e),  the  Investor  will  immediately discontinue disposition of
Registrable  Securities  pursuant to any Registration Statement(s) covering such
Registrable  Securities  until  the  Investor's  receipt  of  the  copies of the
supplemented  or  amended  prospectus contemplated by Section 3(e) or receipt of
notice that no supplement or amendment is required.  Notwithstanding anything to
the  contrary,  the Company shall cause its transfer agent to deliver unlegended
certificates  for  shares  of  Common  Stock  to a transferee of the Investor in
accordance  with  the terms of the Equity Line of Credit Agreement in connection
with  any  sale of Registrable Securities with respect to which the Investor has
entered  into  a  contract  for sale prior to the Investor's receipt of a notice
from  the Company of the happening of any event of the kind described in Section
3(f)  or  the  first  sentence  of  3(e)  and for which the Investor has not yet
settled.

5.     EXPENSES  OF  REGISTRATION.

     All  expenses  incurred  in  connection  with  registrations,  filings  or
qualifications  pursuant to Sections 2 and 3, including, without limitation, all
registration,  listing  and  qualifications fees, printers, legal and accounting
fees  shall  be  paid  by  the  Company.

6.     INDEMNIFICATION.

     With respect to Registrable Securities which are included in a Registration
Statement  under  this  Agreement:

a.     To  the  fullest  extent  permitted  by law, the Company will, and hereby
does, indemnify, hold harmless and defend the Investor, the directors, officers,
     partners,  employees,  agents, representatives of, and each Person, if any,
who  controls  the  Investor  within the meaning of the 1933 Act or the 1934 Act
(each,  an  "Indemnified  Person"),  against  any  losses,  claims,  damages,
liabilities,  judgments, fines, penalties, charges, costs, reasonable attorneys'
fees,  amounts  paid  in settlement or expenses, joint or several (collectively,
"Claims")  incurred  in investigating, preparing or defending any action, claim,
suit,  inquiry,  proceeding, investigation or appeal taken from the foregoing by
or  before any court or governmental, administrative or other regulatory agency,
body  or  the  SEC, whether pending or threatened, whether or not an indemnified
party is or may be a party thereto ("Indemnified Damages"), to which any of them
may  become  subject  insofar as such Claims (or actions or proceedings, whether
commenced or threatened, in respect thereof) arise out of or are based upon: (i)
any  untrue  statement  or  alleged  untrue  statement  of  a material fact in a
Registration  Statement or any post-effective amendment thereto or in any filing
made  in  connection with the qualification of the offering under the securities
or other "blue sky" laws of any jurisdiction in which Registrable Securities are
offered  ("Blue  Sky  Filing"),  or  the omission or alleged omission to state a
material  fact required to be stated therein or necessary to make the statements
therein not misleading; (ii) any untrue statement or alleged untrue statement of
a  material  fact contained in any final prospectus (as amended or supplemented,
if  the  Company files any amendment thereof or supplement thereto with the SEC)
or the omission or alleged omission to state therein any material fact necessary
to  make  the statements made therein, in light of the circumstances under which
the  statements  therein  were  made,  not misleading; or (iii) any violation or
alleged  violation  by the Company of the 1933 Act, the 1934 Act, any other law,
including,  without  limitation,  any  state  securities  law,  or  any  rule or
regulation  there  under  relating  to  the  offer  or  sale  of the Registrable
Securities  pursuant  to  a Registration Statement (the matters in the foregoing
clauses (i) through (iii) being, collectively, "Violations").  The Company shall
reimburse  the  Investor  and  each  such  controlling  person  promptly as such
expenses  are  incurred  and  are  due  and  payable,  for  any  legal  fees  or
disbursements  or  other reasonable expenses incurred by them in connection with
investigating  or  defending  any  such  Claim.  Notwithstanding anything to the
contrary  contained  herein,  the  indemnification  agreement  contained in this
Section  6(a):  (x)  shall not apply to a Claim by an Indemnified Person arising
out of or based upon a Violation which occurs in reliance upon and in conformity
with  information furnished in writing to the Company by such Indemnified Person
expressly  for  use  in  connection  with  the  preparation  of the Registration
Statement  or any such amendment thereof or supplement thereto; (y) shall not be
available  to  the  extent  such  Claim is based on a failure of the Investor to
deliver  or  to  cause  to  be  delivered  the  prospectus made available by the
Company, if such prospectus was timely made available by the Company pursuant to
Section 3(e); and (z) shall not apply to amounts paid in settlement of any Claim
if such settlement is effected without the prior written consent of the Company,
which  consent  shall not be unreasonably withheld.  Such indemnity shall remain
in full force and effect regardless of any investigation made by or on behalf of
the  Indemnified  Person.

b.     In  connection  with  a  Registration  Statement,  the Investor agrees to
indemnify,  hold  harmless and defend, to the same extent and in the same manner
as is set forth in Section 6(a), the Company, each of its directors, each of its
     officers  who signs the Registration Statement and each Person, if any, who
controls the Company within the meaning of the 1933 Act or the 1934 Act (each an
"Indemnified  Party"),  against any Claim or Indemnified Damages to which any of
them  may become subject, under the 1933 Act, the 1934 Act or otherwise, insofar
as  such  Claim  or  Indemnified  Damages  arise  out  of  or  is based upon any
Violation,  in  each  case  to  the  extent,  and  only to the extent, that such
Violation  occurs  in  reliance  upon and in conformity with written information
furnished  to  the  Company by the Investor expressly for use in connection with
such  Registration  Statement;  and,  subject to Section 6(d), the Investor will
reimburse  any legal or other expenses reasonably incurred by them in connection
with  investigating  or  defending  any  such Claim; provided, however, that the
indemnity  agreement  contained  in  this  Section  6(b)  and the agreement with
respect  to  contribution contained in Section 7 shall not apply to amounts paid
in  settlement  of  any  Claim  if such settlement is effected without the prior
written  consent  of  the  Investor,  which  consent  shall  not be unreasonably
withheld;  provided,  further,  however, that the Investor shall be liable under
this Section 6(b) for only that amount of a Claim or Indemnified Damages as does
not  exceed  the  net  proceeds  to  the  Investor  as  a  result of the sale of
Registrable  Securities pursuant to such Registration Statement.  Such indemnity
shall remain in full force and effect regardless of any investigation made by or
on  behalf  of such Indemnified Party.  Notwithstanding anything to the contrary
contained  herein,  the indemnification agreement contained in this Section 6(b)
with respect to any prospectus shall not inure to the benefit of any Indemnified
Party  if  the  untrue  statement  or omission of material fact contained in the
prospectus  was  corrected and such new prospectus was delivered to the Investor
prior  to  the  Investor's  use  of  the  prospectus to which the Claim relates.

c.     Promptly  after  receipt  by  an  Indemnified Person or Indemnified Party
under  this  Section 6 of notice of the commencement of any action or proceeding
(including  any  governmental  action  or  proceeding)  involving  a Claim, such
Indemnified  Person or Indemnified Party shall, if a Claim in respect thereof is
to  be  made against any indemnifying party under this Section 6, deliver to the
indemnifying  party  a  written  notice  of  the  commencement  thereof, and the
indemnifying  party  shall  have the right to participate in, and, to the extent
the  indemnifying  party  so  desires, jointly with any other indemnifying party
similarly  noticed,  to  assume  control  of  the  defense  thereof with counsel
mutually  satisfactory  to  the indemnifying party and the Indemnified Person or
the  Indemnified  Party,  as  the  case  may  be;  provided,  however,  that  an
Indemnified  Person  or Indemnified Party shall have the right to retain its own
counsel  with  the  fees  and  expenses  of  not  more than one counsel for such
Indemnified  Person  or  Indemnified Party to be paid by the indemnifying party,
if, in the reasonable opinion of counsel retained by the indemnifying party, the
representation  by  such  counsel of the Indemnified Person or Indemnified Party
and  the  indemnifying  party  would be inappropriate due to actual or potential
differing  interests  between  such  Indemnified Person or Indemnified Party and
any  other party represented by such counsel in such proceeding. The Indemnified
Party or Indemnified Person shall cooperate fully with the indemnifying party in
connection  with  any  negotiation or defense of any such action or claim by the
indemnifying  party  and shall furnish to the indemnifying party all information
reasonably  available  to  the  Indemnified  Party  or  Indemnified Person which
relates  to  such  action  or  claim.  The  indemnifying  party  shall  keep the
Indemnified  Party  or  Indemnified Person fully apprised at all times as to the
status  of  the defense or any settlement negotiations with respect thereto.  No
indemnifying  party  shall  be liable for any settlement of any action, claim or
proceeding  effected  without its prior written consent, provided, however, that
the  indemnifying  party shall not unreasonably withhold, delay or condition its
consent.  No  indemnifying party shall, without the prior written consent of the
Indemnified  Party  or  Indemnified  Person, consent to entry of any judgment or
enter  into  any  settlement  or  other  compromise which does not include as an
unconditional  term  thereof  the  giving  by  the claimant or plaintiff to such
Indemnified  Party  or  Indemnified  Person  of  a release from all liability in
respect  to such claim or litigation.  Following indemnification as provided for
hereunder,  the  indemnifying  party  shall  be  subrogated to all rights of the
Indemnified Party or Indemnified Person with respect to all third parties, firms
or  corporations relating to the matter for which indemnification has been made.
The  failure  to  deliver  written  notice  to  the  indemnifying party within a
reasonable  time  of  the commencement of any such action shall not relieve such
indemnifying  party  of  any  liability to the Indemnified Person or Indemnified
Party  under this Section 6, except to the extent that the indemnifying party is
prejudiced  in  its  ability  to  defend  such  action.

d.     The  indemnification required by this Section 6 shall be made by periodic
payments  of  the  amount  thereof  during  the  course  of the investigation or
defense,  as  and  when  bills are received or Indemnified Damages are incurred.

e.     The indemnity agreements contained herein shall be in addition to (i) any
cause  of action or similar right of the Indemnified Party or Indemnified Person
against  the  indemnifying  party  or  others,  and  (ii)  any  liabilities  the
indemnifying  party  may  be  subject  to  pursuant  to  the  law.

7.     CONTRIBUTION.

     To the extent any indemnification by an indemnifying party is prohibited or
limited  by  law, the indemnifying party agrees to make the maximum contribution
with respect to any amounts for which it would otherwise be liable under Section
6  to  the  fullest  extent  permitted  by law; provided, however, that:  (i) no
seller  of Registrable Securities guilty of fraudulent misrepresentation (within
the  meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution
from  any  seller  of  Registrable  Securities  who was not guilty of fraudulent
misrepresentation; and (ii) contribution by any seller of Registrable Securities
shall be limited in amount to the net amount of proceeds received by such seller
from  the  sale  of  such  Registrable  Securities.

8.     REPORTS  UNDER  THE  1934  ACT.

     With  a  view  to making available to the Investor the benefits of Rule 144
promulgated under the 1933 Act or any similar rule or regulation of the SEC that
may  at  any  time permit the Investors to sell securities of the Company to the
public  without  registration  ("Rule  144")  the  Company  agrees  to:

a.     make and keep public information available, as those terms are understood
     and  defined  in  Rule  144;

b.     file  with  the  SEC  in  a timely manner all reports and other documents
required  of  the  Company  under  the  1933 Act and the 1934 Act so long as the
Company  remains  subject to such requirements (it being understood that nothing
herein  shall  limit  the  Company's obligations under Section 6.3 of the Equity
Line  of Credit Agreement) and the filing of such reports and other documents is
required  for  the  applicable  provisions  of  Rule  144;  and

c.     furnish  to  the  Investor  so  long  as  the  Investor  owns Registrable
Securities,  promptly  upon request, (i) a written statement by the Company that
it  has  complied  with the reporting requirements of Rule 144, the 1933 Act and
the  1934  Act, (ii) a copy of the most recent annual or quarterly report of the
Company  and such other reports and documents so filed by the Company, and (iii)
such  other information as may be reasonably requested to permit the Investor to
sell  such  securities  pursuant  to  Rule  144  without  registration.

9.     AMENDMENT  OF  REGISTRATION  RIGHTS.

     Provisions  of this Agreement may be amended and the observance thereof may
be waived (either generally or in a particular instance and either retroactively
or  prospectively),  only  by  a  written  agreement.  Any  amendment  or waiver
effected  in  accordance  with this Section 9 shall be binding upon the Investor
and  the  Company.  No  consideration  shall be offered or paid to any Person to
amend  or  consent  to  a waiver or modification of any provision of any of this
Agreement unless the same consideration also is offered to all of the parties to
this  Agreement.

10.     MISCELLANEOUS.

a.     A Person is deemed to be a holder of Registrable Securities whenever such
     Person  owns or is deemed to own of record such Registrable Securities.  If
the  Company receives conflicting instructions, notices or elections from two or
more  Persons with respect to the same Registrable Securities, the Company shall
act  upon  the  basis  of  instructions,  notice  or  election received from the
registered  owner  of  such  Registrable  Securities.

b.     Any  notices,  consents,  waivers  or  other  communications  required or
permitted  to  be given under the terms of this Agreement must be in writing and
will  be  deemed  to  have  been  delivered:  (i)  upon  receipt, when delivered
personally;  (ii) upon receipt, when sent by facsimile (provided confirmation of
transmission is mechanically or electronically generated and kept on file by the
     sending  party);  or (iii) one business day after deposit with a nationally
recognized  overnight  delivery  service, in each case properly addressed to the
party  to  receive  the  same.  The  addresses  and  facsimile  numbers for such
communications  shall  be:
If  to  the  Company,  to:     Asia  Properties  Inc.
                               114  West  Magnolia  Street  -  Suite  400-115
                               Bellingham,  WA  98225
                               Attention:    Daniel  McKinney
                               Telephone:  (360)  392-2841
                               Facsimile:   (694)  535-8456

With  a  copy  to:             Richard  Cutler,  P.C.
                               3206  West  Wimbleton  Drive  -  Suite  100
                               Augusta,  GA  30909
                               Attention:     Richard  Cutler,  Esq.
                               Telephone:   (706)  737-6600
                               Facsimile:    (706)  738-1966

If  to  the  Investor(s):      Cornell  Capital  Partners,  LP
                               101  Hudson  Street  -Suite  3606
                               Jersey  City,  NJ  07302
                               Attention:  Mark  Angelo
                               Portfolio  Manager
                               Telephone:  (201)  985-8300
                               Facsimile:  (201)  985-8266

With  a  Copy  to:             Butler  Gonzalez  LLP
                               1000  Stuyvesant  Avenue  -  Suite  6
                               Union,  NJ  07083
                               Attention:  David  Gonzalez,  Esq.
                               Telephone:  (908)  810-8588
                               Facsimile:  (908)  810-0973

Any  party  may  change  its  address  by  providing written notice to the other
parties  hereto  at  least  five days prior to the effectiveness of such change.
Written  confirmation  of  receipt  (A)  given  by the recipient of such notice,
consent,  waiver  or  other  communication,  (B)  mechanically or electronically
generated by the sender's facsimile machine containing the time, date, recipient
facsimile  number  and  an  image  of the first page of such transmission or (C)
provided  by a courier or overnight courier service shall be rebuttable evidence
of  personal  service,  receipt  by  facsimile  or  receipt  from  a  nationally
recognized  overnight  delivery  service  in accordance with clause (i), (ii) or
(iii)  above,  respectively.

c.     Failure of any party to exercise any right or remedy under this Agreement
     or otherwise, or delay by a party in exercising such right or remedy, shall
not  operate  as  a  waiver  thereof.

d.     The  corporate  laws  of  the  State  of  Nevada  shall govern all issues
concerning  the  relative  rights  of  the  Company and the Investor.  All other
questions  concerning the construction, validity, enforcement and interpretation
of  this  Agreement  shall  be governed by the internal laws of the State of New
Jersey,  without giving effect to any choice of law or conflict of law provision
or  rule  (whether  of  the  State of New Jersey or any other jurisdiction) that
would cause the application of the laws of any jurisdiction other than the State
     of  New Jersey.  Each party hereby irrevocably submits to the non-exclusive
jurisdiction  of  the  Superior  Courts  of  the State of New Jersey, sitting in
Hudson County, New Jersey and the Federal District Court for the District of New
Jersey  sitting  in  Newark,  New  Jersey,  for  the adjudication of any dispute
hereunder  or in connection herewith or with any transaction contemplated hereby
or  discussed herein, and hereby irrevocably waives, and agrees not to assert in
any  suit,  action or proceeding, any claim that it is not personally subject to
the  jurisdiction  of  any  such  court, that such suit, action or proceeding is
brought  in  an  inconvenient  forum  or  that the venue of such suit, action or
proceeding  is  improper.  Each party hereby irrevocably waives personal service
of  process  and  consents  to  process being served in any such suit, action or
proceeding  by  mailing  a  copy  thereof  to such party at the address for such
notices to it under this Agreement and agrees that such service shall constitute
good  and  sufficient  service of process and notice thereof.  Nothing contained
herein  shall  be  deemed  to limit in any way any right to serve process in any
manner permitted by law.  If any provision of this Agreement shall be invalid or
unenforceable in any jurisdiction, such invalidity or unenforceability shall not
affect the validity or enforceability of the remainder of this Agreement in that
jurisdiction  or  the  validity  or  enforceability  of  any  provision  of this
Agreement  in  any other jurisdiction.  EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
RIGHT  IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION
OF  ANY  DISPUTE  HEREUNDER  OR  IN  CONNECTION  HEREWITH OR ARISING OUT OF THIS
AGREEMENT  OR  ANY  TRANSACTION  CONTEMPLATED  HEREBY.

e.     This Agreement, the Equity Line of Credit Agreement, the Escrow Agreement
     and the Placement Agent Agreement constitute the entire agreement among the
parties hereto with respect to the subject matter hereof and thereof.  There are
no  restrictions,  promises,  warranties  or  undertakings, other than those set
forth  or  referred  to  herein and therein.  This Agreement, the Equity Line of
Credit  Agreement,  the  Escrow  Agreement  and  the  Placement  Agent Agreement
supersede  all prior agreements and understandings among the parties hereto with
respect  to  the  subject  matter  hereof  and  thereof.

f.     This  Agreement  shall  inure  to  the benefit of and be binding upon the
permitted  successors  and  assigns  of  each  of  the  parties  hereto.

g.     The  headings in this Agreement are for convenience of reference only and
shall  not  limit  or  otherwise  affect  the  meaning  hereof.

h.     This  Agreement  may be executed in identical counterparts, each of which
shall  be  deemed an original but all of which shall constitute one and the same
agreement.  This  Agreement,  once  executed by a party, may be delivered to the
other party hereto by facsimile transmission of a copy of this Agreement bearing
     the  signature  of  the  party  so  delivering  this  Agreement.

i.     Each  party  shall do and perform, or cause to be done and performed, all
such  further  acts  and  things,  and  shall execute and deliver all such other
agreements,  certificates,  instruments  and  documents,  as the other party may
reasonably  request in order to carry out the intent and accomplish the purposes
of  this Agreement and the consummation of the transactions contemplated hereby.

j.     The  language  used  in  this Agreement will be deemed to be the language
chosen  by  the  parties  to  express their mutual intent and no rules of strict
construction  will  be  applied  against  any  party.

k.     This  Agreement  is  intended  for  the benefit of the parties hereto and
their  respective  permitted  successors and assigns, and is not for the benefit
of,  nor  may  any  provision  hereof  be  enforced  by,  any  other  Person.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

     IN  WITNESS  WHEREOF,  the  parties  have  caused  this Registration Rights
Agreement  to  be  duly  executed  as  of  day  and  year  first  above written.

     COMPANY:
     ASIA  PROPERTIES  INC.

     By:    /s/ Daniel McKinney
     Name:   Daniel  McKinney
     Title:  Chief  Executive  Officer

     INVESTOR:
     CORNELL  CAPITAL  PARTNERS,  LP

     By:  Yorkville  Advisors,  LLC
     Its:  General  Partner

     By:   /s/ Mark Angelo
     Name:  Mark  Angelo
     Title:  Portfolio  Manager5

                                ESCROW AGREEMENT

     THIS ESCROW AGREEMENT (this "Agreement") is made and entered into as of May
20,  2003 by ASIA PROPERTIES INC., a Nevada corporation (the "Company"); CORNELL
CAPITAL  PARTNERS,  LP,  a  Delaware  limited  partnership (the "Investor"); and
BUTLER  GONZALEZ  LLP  (the  "Investor's  Counsel"  and  or the "Escrow Agent").

                                   BACKGROUND

     WHEREAS,  the  Company and the Investor have entered into an Equity Line of
Credit  Agreement  (the  "Equity Line of Credit Agreement") dated as of the date
hereof, pursuant to which the Investor will purchase the Company's Common Stock,
par  value  $.001  per share (the "Common Stock"), at a price per share equal to
the  Purchase  Price,  as  that  term  is  defined  in the Equity Line of Credit
Agreement,  for  an  aggregate price of up to Five Million Dollars ($5,000,000).
The  Equity  Line  of  Credit  Agreement  provides that on each Advance Date the
Investor,  as that term is defined in the Equity Line of Credit Agreement, shall
deposit  the  Advance  pursuant  to  the  Advance  Notice in a segregated escrow
account  to  be held by Escrow Agent and the Company shall deposit shares of the
Company's Common Stock, which shall be purchased by the Investor as set forth in
the  Equity  Line  of  Credit  Agreement,  with  the  Escrow  Agent, in order to
effectuate  a disbursement to the Company of the Advance by the Escrow Agent and
a  disbursement  to  the Investor of the shares of the Company's Common Stock by
Escrow  Agent  at a closing to be held as set forth in the Equity Line of Credit
Agreement  (the  "Closing").

     WHEREAS,  Escrow  Agent  has agreed to accept, hold, and disburse the funds
and  the  shares  of  the Company's Common Stock deposited with it in accordance
with  the  terms  of  this  Agreement.

WHEREAS,  in  order  to  establish  the escrow of funds and shares to effect the
provisions  of  the  Equity  Line  of  Credit Agreement, the parties hereto have
entered  into  this  Agreement.

NOW  THEREFORE,  in  consideration  of  the  foregoing,  it  is hereby agreed as
follows:

1.     Definitions.  The  following terms shall have the following meanings when
used  herein:

a.     "Escrow  Funds"  shall  mean  the Advance funds deposited with the Escrow
Agent  pursuant  to  this  Agreement.

b.     "Joint  Written Direction" shall mean a written direction executed by the
Investor  and the Company directing Escrow Agent to disburse all or a portion of
the  Escrow  Funds or to take or refrain from taking any action pursuant to this
Agreement.

c.     "Common  Stock  Joint  Written  Direction" shall mean a written direction
executed  by  the  Investor  and  the  Company  directing  Investor's Counsel to
disburse  all  or  a  portion  of the shares of the Company's Common Stock or to
refrain  from  taking  any  action  pursuant  to  this  Agreement.

2.     Appointment  of  and  Acceptance  by  Escrow  Agent.

a.     The  Investor  and  the  Company  hereby appoint Escrow Agent to serve as
Escrow  Agent hereunder.  Escrow Agent hereby accepts such appointment and, upon
receipt by wire transfer of the Escrow Funds in accordance with Section 3 below,
     agrees  to  hold,  invest  and disburse the Escrow Funds in accordance with
this  Agreement.

b.     The  Investor and the Company hereby appoint the Escrow Agent to serve as
the  holder of the shares of the Company's Common Stock which shall be purchased
by  the  Investor.  The  Escrow  Agent hereby accepts such appointment and, upon
receipt  via  D.W.A.C  or  the  certificates  representing  of the shares of the
Company's  Common  Stock  in accordance with Section 3 below, agrees to hold and
disburse  the  shares  of  the  Company's  Common  Stock in accordance with this
Agreement.

3.     Creation  of  Escrow  Account/Common  Stock  Account.

a.     On  or  prior  to  the  date  of  this  Agreement  the Escrow Agent shall
establish  an  escrow  account  for  the deposit of the Escrow Funds entitled as
follows:  Asia  Properties  Inc/Cornell Capital Partners, LP.  The Investor will
wire  funds  to  the  account  of  the  Escrow  Agent  as  follows:
Bank:                  Wachovia,  N.A.  of  New  Jersey
Routing  #:            031201467
Account  #:            2020000659170
Name  on  Account:     Butler  Gonzalez  LLP  as  Escrow  Agent
Name on Sub-Account:   Asia Properties Inc/Cornell Capital Partners, LP Escrow
account
Reference Sub-Account  #:     2051-02
Note:     Only  wire  transfers  shall  be  accepted.

b.     On  or  prior  to  the  date  of  this  Agreement  the Escrow Agent shall
establish an account for the D.W.A.C. of the shares of Common Stock. The Company
     will  D.W.A.C.  shares  of the Company's Common Stock to the account of the
Escrow  Agent  as  follows:
Brokerage  Firm:     Fiserv
Account  #:          55943709
DTC  #:              0632
Name  on  Account:   Butler  Gonzalez  LLP  Escrow  Account

4.     Deposits  into  the  Escrow  Account.The  Investor  agrees  that it shall
promptly  deliver  all  monies for the payment of the Common Stock to the Escrow
Agent  for  deposit  in  the  Escrow  Account.

5.     Disbursements  from  the  Escrow  Account.

a.     At  such  time as Escrow Agent has collected and deposited instruments of
payment  in  the  total amount of the Advance and has received such Common Stock
via  D.W.A.C from the Company which are to be issued to the Investor pursuant to
the  Equity  Line of Credit Agreement, the Escrow Agent shall notify the Company
and  the  Investor.  The Escrow Agent will continue to hold such funds until the
Investor and Company execute and deliver a Joint Written Direction directing the
     Escrow  Agent  to  disburse  the  Escrow  Funds  pursuant  to Joint Written
Direction  at  which  time  the  Escrow Agent shall wire the Escrow Funds to the
Company.  In disbursing such funds, Escrow Agent is authorized to rely upon such
Joint  Written  Direction  from  Company  and  may accept any signatory from the
Company  listed  on  the signature page to this Agreement and any signature from
the  Investor that Escrow Agent already has on file.  Simultaneous with delivery
of  the  executed  Joint  Written Direction to the Escrow Agent the Investor and
Company  shall execute and deliver a Common Stock Joint Written Direction to the
Escrow  Agent  directing the Escrow Agent to release via D.W.A.C to the Investor
the  shares  of  the Company's Common Stock.  In releasing such shares of Common
Stock  the  Escrow  Agent  is  authorized  to  rely upon such Common Stock Joint
Written  Direction  from  Company  and may accept any signatory from the Company
listed on the signature page to this Agreement and any signature from the Escrow
Agent  has  on  file.

     In  the  event  the Escrow Agent does not receive the amount of the Advance
from  the Investor or the shares of Common Stock to be purchased by the Investor
from  the  Company,  the Escrow Agent shall notify the Company and the Investor.

     In  the event that the Escrow Agent has not received the Common Stock to be
purchased by the Investor from the Company, in no event will the Escrow Funds be
released  to the Company until such shares are received by the Escrow Agreement.
For  purposes of this Agreement, the term "Common Stock certificates" shall mean
Common  Stock  certificates  to  be purchased pursuant to the respective Advance
Notice  pursuant  to  the  Equity  Line  of  Credit  Agreement.

6.     Collection of Funds. The Escrow Agent is hereby authorized to deposit the
     wire  transfer  proceeds  in  the  Escrow  Account.

7.     Suspension  of  Performance:  Disbursement  Into  Court.

a.     Escrow  Agent.  If at any time, there shall exist any dispute between the
Company  and  the Investor with respect to holding or disposition of any portion
of the Escrow Funds or the Common Stock or any other obligations of Escrow Agent
     hereunder, or if at any time Escrow Agent is unable to determine, to Escrow
Agent's  sole  satisfaction, the proper disposition of any portion of the Escrow
Funds  or  Escrow  Agent's  proper  actions  with  respect  to  its  obligations
hereunder,  or if the parties have not within thirty (30) days of the furnishing
by  Escrow  Agent  of  a  notice  of  resignation  pursuant to Section 9 hereof,
appointed  a  successor Escrow Agent to act hereunder, then Escrow Agent may, in
its  sole  discretion,  take  either  or  both  of  the  following  actions:

i.     Suspend  the  performance  of  any  of its obligations (including without
limitation  any disbursement obligations) under this Escrow Agreement until such
dispute  or  uncertainty  shall  be  resolved to the sole satisfaction of Escrow
Agent or until a successor Escrow Agent shall be appointed (as the case may be);
     provided however, Escrow Agent shall continue to invest the Escrow Funds in
accordance  with  Section  8  hereof;  and/or

ii.     petition  (by  means  of an interpleader action or any other appropriate
method)  any  court  of competent jurisdiction in any venue convenient to Escrow
Agent,  for instructions with respect to such dispute or uncertainty, and to the
extent  required  by  law,  pay  into such court, for holding and disposition in
accordance  with  the  instructions  of  such court, all funds held by it in the
Escrow  Funds,  after  deduction  and  payment  to  Escrow Agent of all fees and
expenses (including court costs and attorneys' fees) payable to, incurred by, or
     expected  to  be incurred by Escrow Agent in connection with performance of
its  duties  and  the  exercise  of  its  rights  hereunder.

iii.     Escrow  Agent  shall have no liability to the Company, the Investor, or
any  person  with  respect to any such suspension of performance or disbursement
into  court,  specifically including any liability or claimed liability that may
arise,  or  be alleged to have arisen, out of or as a result of any delay in the
disbursement  of  funds held in the Escrow Funds or any delay in with respect to
any  other  action  required  or  requested  of  Escrow  Agent.

8.     Investment  of  Escrow  Funds.  The Escrow Agent shall deposit the Escrow
Funds  in  a  non-interest  bearing  money  market  account.

     If Escrow Agent has not received a Joint Written Direction at any time that
an investment decision must be made, Escrow Agent may retain the Escrow Fund, or
such  portion thereof, as to which no Joint Written Direction has been received,
in  a  non-interest  bearing  money  market  account.

9.     Resignation  and  Removal  of Escrow Agent.  Escrow Agent may resign from
the  performance of its duties hereunder at any time by giving thirty (30) days'
prior written notice to the parties or may be removed, with or without cause, by
     the  parties,  acting  jointly,  by furnishing a Joint Written Direction to
Escrow  Agent,  at any time by the giving of ten (10) days' prior written notice
to  Escrow  Agent as provided herein below.  Upon any such notice of resignation
or  removal,  the  representatives of the Investor and the Company identified in
Sections  13a.(iv) and 13b.(iv), below, jointly shall appoint a successor Escrow
Agent  hereunder,  which  shall  be  a  commercial  bank, trust company or other
financial  institution  with  a  combined  capital  and  surplus  in  excess  of
$10,000,000.00.  Upon  the  acceptance  in  writing of any appointment of Escrow
Agent  hereunder  by a successor Escrow Agent, such successor Escrow Agent shall
thereupon  succeed  to and become vested with all the rights, powers, privileges
and  duties of the retiring Escrow Agent, and the retiring Escrow Agent shall be
discharged  from  its  duties  and  obligations under this Escrow Agreement, but
shall  not  be  discharged  from any liability for actions taken as Escrow Agent
hereunder  prior  to  such  succession.  After  any  retiring  Escrow  Agent's
resignation  or  removal, the provisions of this Escrow Agreement shall inure to
its  benefit  as  to any actions taken or omitted to be taken by it while it was
Escrow  Agent  under  this  Escrow  Agreement.  The  retiring Escrow Agent shall
transmit all records pertaining to the Escrow Funds and shall pay all funds held
by  it in the Escrow Funds to the successor Escrow Agent, after making copies of
such  records  as  the retiring Escrow Agent deems advisable and after deduction
and  payment  to  the  retiring Escrow Agent of all fees and expenses (including
court  costs  and  attorneys'  fees)  payable to, incurred by, or expected to be
incurred  by the retiring Escrow Agent in connection with the performance of its
duties  and  the  exercise  of  its  rights  hereunder.

10.     Liability  of  Escrow  Agent.

a.     Escrow  Agent  shall  have no liability or obligation with respect to the
Escrow  Funds  except for Escrow Agent's willful misconduct or gross negligence.
Escrow Agent's sole responsibility shall be for the safekeeping, investment, and
     disbursement  of  the  Escrow  Funds  in  accordance with the terms of this
Agreement.  Escrow  Agent  shall have no implied duties or obligations and shall
not  be  charged  with  knowledge  or  notice  or  any  fact or circumstance not
specifically  set  forth herein.  Escrow Agent may rely upon any instrument, not
only  as  to  its  due execution, validity and effectiveness, but also as to the
truth  and  accuracy  of  any  information contained therein, which Escrow Agent
shall  in  good faith believe to be genuine, to have been signed or presented by
the  person or parties purporting to sign the same and conform to the provisions
of  this  Agreement.  In  no  event shall Escrow Agent be liable for incidental,
indirect,  special,  and  consequential or punitive damages.  Escrow Agent shall
not  be  obligated  to  take  any  legal  action  or  commence any proceeding in
connection  with  the  Escrow  Funds,  any  account  in  which  Escrow Funds are
deposited,  this  Agreement or the Equity Line of Credit Agreement, or to appear
in,  prosecute  or defend any such legal action or proceeding.  Escrow Agent may
consult  legal counsel selected by it in any event of any dispute or question as
to construction of any of the provisions hereof or of any other agreement or its
duties  hereunder,  or  relating  to any dispute involving any party hereto, and
shall  incur  no  liability  and  shall  be fully indemnified from any liability
whatsoever  in  acting  in  accordance  with the opinion or instructions of such
counsel.  The Company and the Investor jointly and severally shall promptly pay,
upon  demand,  the  reasonable  fees  and  expenses  of  any  such  counsel.

b.     The  Escrow Agent is hereby authorized, in its sole discretion, to comply
with  orders  issued  or process entered by any court with respect to the Escrow
Funds, without determination by the Escrow Agent of such court's jurisdiction in
     the  matter.  If  any  portion of the Escrow Funds is at any time attached,
garnished  or  levied  upon  under  any  court  order,  or  in case the payment,
assignment,  transfer,  conveyance  or  delivery  of  any such property shall be
stayed  or  enjoined  by  any  court order, or in any case any order judgment or
decree shall be made or entered by any court affecting such property or any part
thereof, then and in any such event, the Escrow Agent is authorized, in its sole
discretion, to rely upon and comply with any such order, writ judgment or decree
which  it  is advised by legal counsel selected by it,  binding upon it, without
the  need  for appeal or other action; and if the Escrow Agent complies with any
such  order,  writ,  judgment  or  decree,  it shall not be liable to any of the
parties  hereto  or  to  any other person or entity by reason of such compliance
even  though  such  order, writ judgment or decree may be subsequently reversed,
modified,  annulled,  set  aside  or  vacated.

11.     Indemnification  of  Escrow Agent.  From and at all times after the date
of  this  Agreement,  the  parties  jointly and severally, shall, to the fullest
extent  permitted  by  law and to the extent provided herein, indemnify and hold
harmless  Escrow Agent and each director, officer, employee, attorney, agent and
affiliate  of Escrow Agent (collectively, the "Indemnified Parties") against any
and  all  actions,  claims (whether or not valid), losses, damages, liabilities,
costs  and  expenses  of  any  kind  or  nature  whatsoever  (including  without
limitation  reasonable  attorney's  fees,  costs  and  expenses)  incurred by or
asserted  against any of the Indemnified Parties from and after the date hereof,
whether  direct, indirect or consequential, as a result of or arising from or in
any  way  relating  to any claim, demand, suit, action, or proceeding (including
any  inquiry  or  investigation) by any person, including without limitation the
parties  to  this  Agreement, whether threatened or initiated, asserting a claim
for  any  legal  or  equitable  remedy  against  any person under any statute or
regulation, including, but not limited to, any federal or state securities laws,
     or under any common law or equitable cause or otherwise, arising from or in
connection  with the negotiation, preparation, execution, performance or failure
of performance of this Agreement or any transaction contemplated herein, whether
or  not  any such Indemnified Party is a party to any such action or proceeding,
suit or the target of any such inquiry or investigation; provided, however, that
no  Indemnified  Party  shall  have  the  right  to be indemnified hereunder for
liability finally determined by a court of competent jurisdiction, subject to no
further  appeal,  to  have  resulted solely from the gross negligence or willful
misconduct  of  such  Indemnified  Party.  If  any such action or claim shall be
brought  or asserted against any Indemnified Party, such Indemnified Party shall
promptly  notify  the Company and the Investor hereunder in writing, and the and
the  Company  shall  assume  the  defense  thereof,  including the employment of
counsel  and  the payment of all expenses.  Such Indemnified Party shall, in its
sole  discretion, have the right to employ separate counsel (who may be selected
by  such  Indemnified  Party  in  its sole discretion) in any such action and to
participate and to participate in the defense thereof, and the fees and expenses
of  such  counsel  shall  be  paid  by  such  Indemnified Party, except that the
Investor  and/or  the  Company shall be required to pay such fees and expense if
(a)  the Investor or the Company agree to pay such fees and expenses, or (b) the
Investor  and/or  the Company shall fail to assume the defense of such action or
proceeding  or  shall fail, in the sole discretion of such Indemnified Party, to
employ  counsel  reasonably  satisfactory  to  the Indemnified Party in any such
action  or proceeding, (c) the Investor and the Company are the plaintiff in any
such  action  or  proceeding  or  (d) the named or potential parties to any such
action  or proceeding (including any potentially impleaded parties) include both
Indemnified  Party  the  Company and/or the Investor and Indemnified Party shall
have  been  advised  by  counsel  that  there  may be one or more legal defenses
available to it which are different from or additional to those available to the
Company  or  the  Investor.  The  Investor  and the Company shall be jointly and
severally  liable  to pay fees and expenses of counsel pursuant to the preceding
sentence, except that any obligation to pay under clause (a) shall apply only to
the party so agreeing.  All such fees and expenses payable by the Company and/or
the  Investor pursuant to the foregoing sentence shall be paid from time to time
as  incurred,  both in advance of and after the final disposition of such action
or  claim.  The  obligations of the parties under this section shall survive any
termination  of  this  Agreement, and resignation or removal of the Escrow Agent
shall  be  independent  of  any  obligation  of  Escrow  Agent.

12.     Expenses of Escrow Agent.  Except as set forth in Section 11 the Company
     shall  reimburse  Escrow  Agent  for  all  of  its reasonable out-of-pocket
expenses,  including  attorneys'  fees, travel expenses, telephone and facsimile
transmission  costs,  postage  (including  express  mail  and overnight delivery
charges), copying charges and the like as outlined in Section 12.4 of the Equity
Line  of  Credit  Agreement  dated the date hereof.  All of the compensation and
reimbursement  obligations  set  forth  in  this Section shall be payable by the
Company, upon demand by Escrow Agent.  The obligations of the Company under this
Section  shall  survive any termination of this Agreement and the resignation or
removal  of  Escrow  Agent.

13.     Warranties.

a.     The  Investor  makes  the following representations and warranties to the
Escrow  Agent  and  Investor's  Counsel:

i.     The  Investor  has  full  power and authority to execute and deliver this
Agreement  and  to  perform  its  obligations  hereunder.

ii.     This  Agreement  has  been  duly approved by all necessary action of the
Investor,  including  any  necessary  approval  of  the  limited  partner of the
Investor,  has  been  executed  by  duly  authorized  officers of the Investor's
general  partner,  enforceable  in  accordance  with  its  terms.

iii.     The  execution,  delivery,  and  performance  of  the  Investor of this
Agreement  will  not  violate,  conflict  with,  or  cause  a  default under the
agreement  of  limited  partnership  of  the  Investor,  any  applicable  law or
regulation,  any  court  order  or  administrative ruling or degree to which the
Investor  is  a  party  or  any  of  its  property is subject, or any agreement,
contract,  indenture,  or  other  binding  arrangement.

iv.     Mark  A.  Angelo has been duly appointed to act as the representative of
Investor  hereunder  and  has  full power and authority to execute, deliver, and
perform  this  Agreement, to execute and deliver any Joint Written Direction, to
amend, modify, or waive any provision of this Agreement, and to take any and all
other actions as the Investor's representative under this Agreement, all without
further  consent  or  direction  form,  or  notice to, the Investor or any other
party.

v.     No  party  other  than  the parties hereto have, or shall have, any lien,
claim  or  security  interest  in  the  Escrow  Funds  or  any part thereof.  No
financing  statement  under  the  Uniform  Commercial  Code  is  on  file in any
jurisdiction claiming a security interest in or describing (whether specifically
or  generally)  the  Escrow  Funds  or  any  part  thereof.

vi.     All  of  the  representations  and  warranties of the Investor contained
herein are true and complete as of the date hereof and will be true and complete
at  the  time  of  any  disbursement  from  the  Escrow  Funds.

b.     The  Company makes the following representations and warranties to Escrow
Agent,  the  Investor  and  Investor's  Counsel:

i.     The  Company  is  a  corporation duly organized, validly existing, and in
good  standing  under  the  laws  of the State of Nevada, and has full power and
authority  to  execute and deliver this Agreement and to perform its obligations
hereunder.

ii.     This  Agreement has been duly approved by all necessary corporate action
of  the Company, including any necessary shareholder approval, has been executed
by  duly  authorized officers of the Company, enforceable in accordance with its
terms.

iii.     The  execution, delivery, and performance by the Company of this Escrow
Agreement is in accordance with the Equity Line of Credit Agreement and will not
violate,  conflict  with,  or  cause  a  default  under  the  certificate  of
incorporation  or  bylaws  of the Company, any applicable law or regulation, any
court  order  or administrative ruling or decree to which the Company is a party
or  any  of  its  property is subject, or any agreement, contract, indenture, or
other  binding  arrangement.

iv.     Daniel  McKinney has been duly appointed to act as the representative of
the  Company hereunder and has full power and authority to execute, deliver, and
perform  this  Agreement, to execute and deliver any Joint Written Direction, to
amend,  modify  or  waive  any provision of this Agreement and to take all other
actions  as  the  Company's  Representative  under  this  Agreement, all without
further consent or direction from, or notice to, the Company or any other party.

v.     No  party  other  than  the parties hereto shall have, any lien, claim or
security  interest  in  the  Escrow  Funds  or  any  part thereof.  No financing
statement  under  the  Uniform  Commercial  Code  is on file in any jurisdiction
claiming  a  security  interest  in  or  describing  (whether  specifically  or
generally)  the  Escrow  Funds  or  any  part  thereof.

vi.     All  of  the  representations  and  warranties  of the Company contained
herein are true and complete as of the date hereof and will be true and complete
at  the  time  of  any  disbursement  from  the  Escrow  Funds.

14.     Consent  to  Jurisdiction and Venue.  In the event that any party hereto
commences  a  lawsuit  or  other  proceeding  relating  to  or arising from this
Agreement,  the  parties  hereto agree that the United States District Court for
the  District  of New Jersey shall have the sole and exclusive jurisdiction over
any  such  proceeding.  If  all  such  courts  lack  federal  subject  matter
jurisdiction,  the parties agree that the Superior Court Division of New Jersey,
Chancery  Division  of Hudson County shall have sole and exclusive jurisdiction.
Any  of  these  courts  shall  be  proper venue for any such lawsuit or judicial
proceeding  and  the  parties  hereto  waive  any  objection to such venue.  The
parties  hereto consent to and agree to submit to the jurisdiction of any of the
courts  specified  herein  and  agree  to  accept the service of process to vest
personal  jurisdiction  over  them  in  any  of  these  courts.

15.     Notice.  All  notices  and  other  communications  hereunder shall be in
writing and shall be deemed to have been validly served, given or delivered five
     (5)  days  after deposit in the United States mails, by certified mail with
return receipt requested and postage prepaid, when delivered personally, one (1)
day  delivered  to  any  overnight  courier,  or  when  transmitted by facsimile
transmission  and  addressed  to  the  party  to  be  notified  as  follows:
If  to  Investor,  to:          Cornell  Capital  Partners,  LP
                                101  Hudson  Street  -  Suite  3606
                                Jersey  City,  New  Jersey  07302
                                Attention:  Mark  Angelo
                                Facsimile:  (201)  985-8266

If  to  Escrow  Agent,  to:     Butler  Gonzalez  LLP
                                1000  Stuyvesant  Avenue  -  Suite  6
                                Union,  New  Jersey  07083
                                Attention:  David  Gonzalez,  Esq.
                                Facsimile:  (908)  810-0973

If  to  Company,  to:           Asia  Properties  Inc.
                                114  West  Magnolia  Street  -  Suite  400-115
                                Bellingham,  WA  98225
                                Attention:    Daniel  McKinney
                                Telephone:  (360)  392-2841
                                Facsimile:   (694)  535-8456

With  a  copy  to:              Richard  Cutler,  P.C.
                                3206  West  Wimbleton  Drive  -  Suite  100
                                Augusta,  GA  30909
                                Attention:     Richard  Cutler,  Esq.
                                Telephone:   (706)  737-6600
                                Facsimile:    (706)  738-1966

     Or  to  such  other  address as each party may designate for itself by like
notice.

16.     Amendments  or Waiver. This Agreement may be changed, waived, discharged
or  terminated  only by a writing signed by the parties of the Escrow Agent.  No
delay or omission by any party in exercising any right with respect hereto shall
     operate  as waiver.  A waiver on any one occasion shall not be construed as
a  bar  to,  or  waiver  of,  any  right  or  remedy  on  any  future  occasion.

17.     Severability.  To  the  extent  any  provision  of  this  Agreement  is
prohibited  by  or  invalid  under  applicable  law,  such  provision  shall  be
ineffective  to  the  extent  of  such  prohibition,  or  invalidity,  without
invalidating the remainder of such provision or the remaining provisions of this
     Agreement.

18.     Governing  Law.  This  Agreement  shall  be construed and interpreted in
accordance  with  the internal laws of the State of Nevada without giving effect
to  the  conflict  of  laws  principles  thereof.

19.     Entire  Agreement.  This  Agreement  constitutes  the  entire  Agreement
between the parties relating to the holding, investment, and disbursement of the
Escrow  Funds and sets forth in their entirety the obligations and duties of the
Escrow  Agent  with  respect  to  the  Escrow  Funds.

20.     Binding  Effect.  All  of  the  terms of this Agreement, as amended from
time  to time, shall be binding upon, inure to the benefit of and be enforceable
by the respective heirs, successors and assigns of the Investor, the Company, or
the  Escrow  Agent.

21.     Execution  of  Counterparts.  This  Agreement  and  any  Joint  Written
Direction  may  be  executed  in  counter  parts,  which  when so executed shall
constitute  one  and  same  agreement  or  direction.

22.     Termination.  Upon  the  first to occur of the termination of the Equity
Line  of  Credit  Agreement  dated  the  date  hereof or the disbursement of all
amounts  in  the  Escrow Funds and Common Stock into court pursuant to Section 7
hereof,  this  Agreement  shall terminate and Escrow Agent shall have no further
obligation  or liability whatsoever with respect to this Agreement or the Escrow
Funds  or  Common  Stock.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

     IN  WITNESS WHEREOF the parties have hereunto set their hands and seals the
day  and  year  above  set  forth.
     ASIA  PROPERTIES  INC.

     By:   /s/ Daniel McKinney
     Name:  Daniel  McKinney
     Title:  Chief  Executive  Officer

     CORNELL  CAPITAL  PARTNERS,  LP

     By:  Yorkville  Advisors,  LLC
     Its:  General  Partner

     By:   /s/ Mark A. Angelo
     Name:  Mark  A.  Angelo
     Title:  Portfolio  Manager

     BUTLER  GONZALEZ  LLP

     By:  /s/ David Gonzalez
     Name:  David  Gonzalez,  Esq.
     Title:  Partner

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