Document:

<PAGE>

                                   EXHIBIT 4.1
<TABLE>
<CAPTION>
<S>   <C>

Number                                                                   Shares

______________                                                      _____________
                            HIENERGY TECHNOLOGIES,INC

              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

PAR VALUE $0.001                                           CUSIP No. 42052V 10 1
COMMON STOCK

THIS CERTIFIES THAT

is the owner of

 FULLY PAID AND NONASSESSABLE SHARE OF THE COMMON STOCK PAR VALUE OF $0.001 EACH OF

                            HIENERGY TECHNOLOGIES,INC.

        transferable on the books of the Corporation in person or by duly
 authorized attorney upon surrender of this Certificate properly endorsed. This
    Certificate is not valid unless countersigned by the Transfer Agent and
                          registered by the Registrar.
  Witness the facsimile seal of the Corporation and the facsimile signatures of
                          its duly authorized officers.

                                                  Dated:

          /s/ Tom Poscoe
          PRESIDENT                               COUNTERSIGNED  AND REGISTERED:
          /s/ B.C. Maglich
          CHAIRMAN                                BY   SIGNATURE STOCK TRANSFER, INC.
          /s/ Michael Levy                             (Plano, Texas) Transfer Agent
          CORPORATE  SECRETARY                              Authorized Signature
</TABLE>
                                    SEAL
<PAGE>

<TABLE>
<CAPTION>

          The following abbreviations, when used in the inscription on the face of this certificate, shall be
construed as though they were written out in full according to applicable laws or regulations:

<S>                       <C>                                          <C>                   <C>
TEN COM (TIC)     - as tenants in common           UNIF GIFT MIN (TRANS) ACT - _____Custodian_____
TEN ENT           - as tenants by the entireties    (UGMA)(UTMA)              (Cust)        (Minor)
JT TEN (J/T)      - as joint tenants with right of                             under Uniform Gifts to Minors
                    survivorship and not as tenants                            Act _____________________
                    in common                                                   (State)

                Additional abbreviations may also be used though not in the above list.

     For Value Received _____________________________________hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR SOME OTHER
IDENTIFYING NUMBER OF ASSIGNEEE
--------------------------------
|                                         |
|                                         |
-------------------------------------------------------------------------------------------------------------------

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

-------------------------------------------------------------------------------------------------------------------
             PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OR ASSIGNEE

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

-------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------   Shares
of  the  Capital  Stock  represented  by  the  within Certificate, and do hereby irrevocably constitute and
appoint______________________________________________________________________Attorney
to transfer the said Stock on the books of the within-named Corporation with full power of substitution in
the premises.
</TABLE>

<TABLE>
<CAPTION>
<S>                                                                                   <C>
                                             Dated  _____________________

                                             X__________________________________

                                             ___________________________________
                                             NOTICE: THE SIGNATURE TO THIS
                                             AGREEMENT  MUST  CORRESPOND  WITH
______________________________________       THE  NAME  AS WRITTEN UPON THE FACE
         SIGNATURE GUARANTEE                 OF  THE  CERTIFICATE,  IN  EVERY
        (BY BANK, CORPORATE OFFICER)         PARTICULAR,  WITHOUT  ALTERATION OR
                                             ENLARGEMENT,  OR  ANY  CHANGE
                                             WHATEVER.
</TABLE>

<PAGE><PAGE>

                                  EXHIBIT 4.2

Number                                                                    Shares

                            HIENERGY TECHNOLOGIES,INC

              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

PAR VALUE $0.001                                         CUSIP No. 42952V 20 0
SERIES A CONVERTIBLE
PREFERRED STOCK

THIS CERTIFIES THAT

is the owner of

 FULLY PAID AND NONASSESSABLE SHARE OF THE SERIES A CONVERTIBLE PREFERRED STOCK
                          PAR VALUE OF $0.001 EACH OF

                            HIENERGY TECHNOLOGIES, INC.

        transferable on the books of the Corporation in person or by duly
 authorized attorney upon surrender of this Certificate properly endorsed. This
    Certificate is not valid unless countersigned by the Transfer Agent and
                          registered by the Registrar.
  Witness the facsimile seal of the Corporation and the facsimile signatures of
                          its duly authorized officers.

                                            Dated:

          /s/ Tom Poscoe
          PRESIDENT                         COUNTERSIGNED  AND REGISTERED:
          /s/ B.C. Maglich
          CHAIRMAN                          BY   SIGNATURE STOCK TRANSFER, INC.
          /s/ Michael Levy                       (Plano, Texas) Transfer Agent
          CORPORATE  SECRETARY                       Authorized Signature

                                      SEAL

<PAGE>

<TABLE>
<CAPTION>

          The following abbreviations, when used in the inscription on the face of this certificate, shall be
construed as though they were written out in full according to applicable laws or regulations:

<S>                       <C>                                          <C>                   <C>
TEN COM (TIC)     - as tenants in common           UNIF GIFT MIN (TRANS) ACT - _____Custodian_____
TEN ENT           - as tenants by the entireties    (UGMA)(UTMA)              (Cust)        (Minor)
JT TEN (J/T)      - as joint tenants with right of                             under Uniform Gifts to Minors
                    survivorship and not as tenants                            Act _____________________
                    in common                                                   (State)

                Additional abbreviations may also be used though not in the above list.

     For Value Received _____________________________________hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR SOME OTHER
IDENTIFYING NUMBER OF ASSIGNEEE
--------------------------------
|                                         |
|                                         |
-------------------------------------------------------------------------------------------------------------------

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

-------------------------------------------------------------------------------------------------------------------
             PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OR ASSIGNEE

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

-------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------   Shares
of  the  Capital  Stock  represented  by  the  within Certificate, and do hereby irrevocably constitute and
appoint______________________________________________________________________Attorney
to transfer the said Stock on the books of the within-named Corporation with full power of substitution in
the premises.
</TABLE>

<TABLE>
<CAPTION>

<S>                                                                                   <C>
                                             Dated  _____________________

                                             X__________________________________

                                             ___________________________________
                                             NOTICE: THE SIGNATURE TO THIS
                                             AGREEMENT  MUST  CORRESPOND  WITH
______________________________________       THE  NAME  AS WRITTEN UPON THE FACE
         SIGNATURE GUARANTEE                 OF  THE  CERTIFICATE,  IN  EVERY
        (BY BANK, CORPORATE OFFICER)         PARTICULAR,  WITHOUT  ALTERATION OR
                                             ENLARGEMENT,  OR  ANY  CHANGE
                                             WHATEVER.
</TABLE>

<PAGE><PAGE>

                              EXHIBIT 4.4

                          REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement ("Agreement") is entered into as of this
_____ day of _________________, 2002, between SLW Enterprises Inc., a Washington
corporation  ("Issuer"),  and  the  undersigned  ("Permitted  Right  Holder").

     WHEREAS,  Issuer  has  undertaken  to  issue  shares of its common stock to
Permitted  Right  Holder;  and

     WHEREAS,  Issuer  has  agreed  to  give Permitted Right Holder registration
rights  as  set  forth  below.

     NOW,  THEREFORE,  in consideration of the mutual promises, representations,
warranties,  covenants  and  conditions set forth in this Agreement, the parties
mutually  agree  as  follows:

1.     DEFINITIONS.  As  used  in  this Agreement the following terms shall have
       -----------
the  following  respective  meanings:
1.1     "EXCHANGE  ACT"  means  the Securities Exchange Act of 1934, as amended.

1.2     "PERMITTED  RIGHT  HOLDER"  and  "PERMITTED  RIGHT  HOLDERS"  means  any
subscriber  who  purchased  the  common  stock  of  Issuer  through  the Private
Placement  Offering.

1.3     "PRIVATE  PLACEMENT  OFFERING"  means  the private placement offering by
Issuer  of  up  to  2,000,000  shares of its common stock, par value $0.0001 per
share, commencing on February 20, 2002 and closing on or before thirty (30) days
after April 25, 2002, or May 25, 2002, unless extended an additional thirty
(30)  days  by  Issuer,  or  until  June  24,  2002.

1.4  "REGISTER,"  "REGISTERED,"  and  "REGISTRATION"  refer  to  a  registration
effected by preparing and filing a registration statement in compliance with the
Securities  Act,  and  the  declaration  or  ordering  of  effectiveness of such
registration  statement  or  document.

1.5     "REGISTRABLE  SECURITIES" means any shares of its common stock issued by
Issuer  to  Permitted  Right Holders pursuant to the Private Placement Offering.

1.6     "REGISTRATION  EXPENSES"  shall  mean all expenses incurred by Issuer in
complying with Section 2 hereof, including, without limitation, all registration
and  filing  fees,  printing  expenses,  fees  and  disbursements of counsel for
Issuer, reasonable fees and disbursements of a special counsel for the Permitted
Right  Holders  up to $10,000, blue sky fees and expenses and the expense of any
special  audits  incident to or required by any such registration (but excluding
the compensation of regular employees of Issuer which shall be paid in any event
by  Issuer).

1.7     "SEC"  means  the  Securities  and  Exchange  Commission.

1.8     "SECURITIES  ACT"  shall  mean  the  Securities Act of 1933, as amended.

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 1
<PAGE>

1.9     "SELLING  EXPENSES"  shall  mean  all underwriting discounts and selling
commissions  applicable  to  the  sale.

2.     TYPES  OF  REGISTRATION  RIGHTS
       -------------------------------

2.1     DEMAND
        ------

(a)     REQUEST  FOR  REGISTRATION.  If  Issuer  shall receive a written request
        --------------------------
from  one  or  more  Permitted  Right  Holders  that  Issuer file a registration
statement  under  the  Securities  Act  covering  the registration of at least a
majority  of the Registrable Securities then outstanding (or a lesser percent if
the  anticipated  aggregate  offering  price,  net of underwriting discounts and
commissions would exceed $10,000,000), then Issuer shall use its best efforts to
effect, as soon as practicable, the registration under the Securities Act of all
Registrable  Securities  that  the  Permitted  Right  Holders  request  to  be
registered.

(b)     REQUEST  FOR  UNDERWRITING.  If  the  Permitted  Right Holders intend to
        --------------------------
distribute  the  Registrable  Securities covered by their request by means of an
underwriting, they shall so advise Issuer as part of their request made pursuant
to  this  Section  2.1.  The  Permitted  Right  Holders  shall  enter  into  an
underwriting  agreement  in  customary form with the underwriter or underwriters
selected for such underwriting by Issuer. Notwithstanding any other provision of
this  Section  2.1,  if  the  underwriter  advises Issuer that marketing factors
require  a  limitation of the number of securities to be underwritten (including
Registrable  Securities),  then  Issuer  shall exclude or withdraw the number of
Registrable  Securities  from  the  registration  accordingly.

2.2     PIGGYBACK
        ---------

     (a)  If  Issuer  at any time proposes for any reason to register its common
stock  under  the Securities Act (other than on Form S-4 or Form S-8 promulgated
under the Securities Act or any successor forms thereto), it shall promptly give
written  notice  to  each Permitted Right Holder of its intention so to register
its  common  stock  and, upon the written request, given within 10 business days
after  delivery  of  any such notice by Issuer, of any Permitted Right Holder to
include in such registration Registrable Securities (which request shall specify
the  number  of  Registrable  Securities  proposed  to  be  included  in  such
registration),  Issuer  shall  use  its  commercially reasonable best efforts to
cause all such Registrable Securities to be included in such registration on the
same  terms  and  conditions  as  the  securities  otherwise  being sold in such
registration;  provided  that  if,  at  any  time  after  written  notice of its
intention to register any offering of securities and prior to the effective date
of the registration statement filed in connection with such registration, Issuer
will determine for any reason either not to register or to delay registration of
such  securities,  Issuer  may,  at  its  election,  give written notice of such
determination  to each Permitted Right Holder and, thereon, (i) in the case of a
determination  not  to register, will be relieved of this obligation to register
any  Registrable  Securities  in connection with such registration (but not from
the  obligation  to  pay the Registration Expenses in connection therewith), and
(ii)  in  the case of a determination to delay registering, will be permitted to
delay  registering  any Registrable Securities, for the same period as the delay
in  registering  such  other  securities. The right provided the Permitted Right

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 2

<PAGE>
Holders  of  the  Registrable  Securities  pursuant  to  this  section  will  be
exercisable  at  their  sole  discretion  upon  the execution of this Agreement.

     (b)  If  the managing underwriter of an underwritten offering under Section
2.2(a)  informs  Issuer  and  the Permitted Right Holders of its belief that the
inclusion  of  all  Registrable  Securities  proposed  to  be  included  in such
registration  would  interfere with the successful marketing (including pricing)
of  the  shares proposed to be registered by Issuer, then Issuer will include in
such  registration,  to  the extent of the number which Issuer is advised can be
sold  in  the offering:  first, securities proposed by Issuer to be sold for its
                         -----
own  account; and second, the Registrable Securities requested to be included in
                  ------
the registration, pro rata based upon the number of shares of such securities so
proposed  to  be  sold  and  so requested to be included; provided, however, the
Permitted  Right  Holders will have priority to all shares sought to be included
by  officers  and directors of Issuer as well as holders of ten percent (10%) or
more  of  Issuer's  common  stock.

3.     PROCEDURE
       ---------

3.1     OBLIGATIONS  OF ISSUER.  Whenever required to effect the registration of
        ----------------------
any  Registrable  Securities  under  Sections  2.1  or  2.2,  Issuer  shall,  as
expeditiously  as  possible:

(a)     prepare  and  file  with  the SEC a registration statement or amendments
thereto,  to  effect  such  registration  (including  such  audited  financial
statements as may be required by the Securities Act or the rules and regulations
promulgated  thereunder)  and  thereafter  use  its commercially reasonable best
efforts  to  cause  a  registration  statement  that  registers such Registrable
Securities  to  become  and remain effective for 180 days or until the Permitted
Right  Holders have completed the distribution related thereto, whichever occurs
first.  If requested by the Permitted Right Holders, Issuer shall file, cause to
become  effective  or  maintain  the effectiveness of any registration statement
that  contemplates a distribution of securities on a delayed or continuous basis
pursuant  to  Rule  415  under  the  Securities Act and subject to the same time
constraints  as  provided  in  the  preceding  sentence.

(b)     prepare  and  file  with the SEC such amendments and supplements to such
registration statement and the prospectus used in connection therewith as may be
necessary  to  comply  with the provisions of the Securities Act with respect to
the disposition of all securities covered by such registration statement for the
period  set  forth  in  paragraph  (a)  above.

(c)     notify,  in  writing,  each  Permitted  Right Holder promptly (A) of the
receipt  by  Issuer  of any notification with respect to any comments by the SEC
with  respect  to  such registration statement or prospectus or any amendment or
supplement  thereto  or any request by the SEC for the amending or supplementing
thereof  or  for additional information with respect thereto, (B) of the receipt
by  Issuer  of  any  notification with respect to the issuance by the SEC of any
stop  order  suspending  the  effectiveness  of  such  registration statement or
prospectus  or  any  amendment  or  supplement  thereto  or  the  initiation  or
threatening  of any proceeding for that purpose and (C) of the receipt by Issuer
of  any notification with respect to the suspension of the qualification of such
Registrable  Securities  for  sale  in  any  jurisdiction  or  the initiation or
threatening  of  any  proceeding  for  such  purpose;

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 3

<PAGE>
(d)     use  its best efforts to register or qualify such Registrable Securities
under  such  other  securities  or "blue sky" laws of such jurisdictions as each
Permitted  Right  Holder  reasonably  requests and do any and all other acts and
things  which  may  be reasonably necessary or advisable to enable the Permitted
Right  Holders  to  consummate  the  disposition  in  such  jurisdictions of the
Registrable Securities owned by such Permitted Right Holders; provided, however,
that  Issuer  will  not be required to qualify generally to do business, subject
itself  to  general  taxation  or  consent  to general service of process in any
jurisdiction  where  it  would  not  otherwise be required so to do but for this
paragraph;

(e)     furnish  to  each  Permitted  Right  Holder  such  number of copies of a
summary  prospectus  or other prospectus, including a preliminary prospectus, in
conformity with the requirements of the Securities Act, and such other documents
as such Permitted Right Holder may reasonably request in order to facilitate the
public  sale  or  other  disposition  of  such  Registrable  Securities;

(f)     make  available  for  inspection  by  any  Permitted  Right  Holder, any
underwriter  participating  in  any  disposition  pursuant  to such registration
statement  and  any  attorney,  accountant  or  other agent retained by any such
Permitted  Right  Holder  or  underwriter  (collectively, the "Inspectors"), all
pertinent  financial  and  other  records,  pertinent  corporate  documents  and
properties  of  Issuer  (collectively,  the  "Records"),  as shall be reasonably
necessary  to  enable  them  to exercise their due diligence responsibility, and
cause  Issuer's  officers,  directors  and  employees  to supply all information
(together  with the Records, the "Information") reasonably requested by any such
Inspector in connection with such registration statement. Any of the Information
which  Issuer  determines  in  good  faith  to  be  confidential,  and  of which
determination  the  Inspectors  are  so  notified, shall not be disclosed by the
Inspectors  unless  (A) the disclosure of such Information is necessary to avoid
or  correct  a  misstatement  or omission in the registration statement, (B) the
release  of  such  Information  is ordered pursuant to a subpoena or other order
from  a  court  of  competent jurisdiction or (C) such Information has been made
generally available to the public without breach of any duty of confidentiality.
The  Permitted Right Holders agree that they will, upon learning that disclosure
of  such Information is sought in a court of competent jurisdiction, give notice
to Issuer and allow Issuer, at Issuer's expense, to undertake appropriate action
to  prevent  disclosure  of  the  Information  deemed  confidential;

(g)     use  its  commercially  reasonable  best efforts to list all Registrable
Securities  covered  by the registration statement on any securities exchange on
which  any  of  the  Registrable  Securities  are  then  listed;  and

(h)     use  its  commercially  reasonable  best efforts to take all other steps
necessary to effect the registration of such Registrable Securities contemplated
hereby.

3.2     EXPENSES  OF  REGISTRATION.  Except as specifically provided herein, all
        --------------------------
Registration  Expenses  incurred  in  connection  with  any  registration,
qualification  or  compliance  pursuant  to  Sections 2.1 or 2.2 herein shall be
borne  by  Issuer.  All  Selling  Expenses  incurred  in  connection  with  any
registration,  qualification or compliance pursuant to Sections 2.1 or 2.2 shall
be borne by the Permitted Right Holders.  Issuer shall not, however, be required

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 4

<PAGE>

to  pay  the  Registration  Expenses  of  any registration proceeding begun
pursuant  to  Sections  2.1  or  2.2, the request of which has been subsequently
withdrawn  by  the  Permitted  Right Holders unless the withdrawal is based upon
material  adverse  information  concerning  Issuer  of which the Permitted Right
Holders  were  not  aware  at  the time of such request.  If the Permitted Right
Holders  are  required  to pay the Registration Expenses of a withdrawn offering
pursuant  to  the  preceding  sentence, until such time as all the expenses have
been  paid  to  Issuer  in full, the Permitted Right Holders shall forfeit their
right pursuant to Section 2.1 to demand registration and their right pursuant to
Section  2.2 to participate in piggyback registration.  If Issuer is required to
pay  the Registration Expenses of a withdrawn offering, then the Permitted Right
Holders  shall  not  forfeit  their  right  pursuant  to  Section  2.1 to demand
registration  or their right pursuant to Section 2.2 to participate in piggyback
registration.

3.3     COUNSEL  FEES.  In connection with any registration of an offering under
        -------------
this  Section 3, if there is more than one Permitted Right Holder, the Permitted
Right  Holders  shall  designate one counsel for the Permitted Right Holders who
shall  be  authorized  to represent the interests of the Permitted Right Holders
with  respect  to Issuer and the underwriter in connection with the offering. If
the  Permitted  Right Holders are unable to designate one counsel after a period
of  30  days, Issuer may solicit suggestions for such counsel from the Permitted
Right  Holders  (no  more  than  one suggestion per Permitted Right Holder), and
select one counsel from among those suggested, and the selection of such counsel
shall  be  binding  on  the  Permitted  Right  Holders. The fees and expenses of
counsel  for the Permitted Rights Holders up to $10,000 shall be paid by Issuer.

3.4     RIGHT  TO  DEFER REGISTRATION.  Issuer shall not be required to effect a
        -----------------------------
registration  pursuant  to  Sections  2.1  or 2.2 if Issuer shall furnish to the
Permitted  Right  Holders  a  certificate  signed  by  the Chairman of the Board
stating  that in the good faith judgment of the Board of Directors of Issuer, it
would  be  materially  detrimental  to  Issuer  and  its  shareholders  for such
registration  statement to be effected at such time, in which event Issuer shall
have  the  right  to defer such filing for a period of not more than one hundred
twenty  (120)  days after receipt of the request pursuant to Section 2.1 or 2.2;
provided  that  such  right  to delay a request shall be exercised by Issuer not
more  than  once  in  any  twelve  (12)  month  period.

4.     TERMINATION  OF  REGISTRATION  RIGHTS.  All  registration  rights granted
       -------------------------------------
under  this  Agreement,  and  all  notices  required under this Agreement, shall
terminate  and  be  of  no further force and effect on the date that is one year
after  the  first  issuance  to Permitted Right Holder of Registrable Securities
through  the  Private  Placement  Offering.

5.     REQUESTS  FOR  INFORMATION.  The  Permitted Right Holders hereby agree to
       --------------------------
promptly  furnish  Issuer  with  any  and all written information concerning the
Permitted  Right Holders that Issuer reasonably requests in order to (1) prepare
the  registration  statements and (2) conduct such other due diligence as may be
necessary  for  Issuer  to  satisfy or respond to any regulatory or governmental
requirements  or  requests.  The  Permitted Right Holders agree to provide true,
complete  and  accurate  information  based  on a diligent review of appropriate
records  as  would  be  conducted  by a prudent man in the management of his own
property.  The  Permitted  Right  Holders understand that Issuer may incorporate
some  or  all  of such information into the foregoing documents or may determine
based  on  such  information that certain disclosures are not required, and that
Issuer  will depend on the Permitted Right Holders to provide true, complete and
accurate  information.

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 5

<PAGE>
6.     DELAY  OF  REGISTRATION.  The  Permitted Right Holders shall not have the
right to obtain or seek an injunction restraining or otherwise delaying any such
registration  as  the result of any controversy that might arise with respect to
the  interpretation  or  implementation  of  this  Agreement.

7.     INDEMNIFICATION.  In the event any Registrable Securities are included in
       ---------------
a  registration  statement  under  Section  2:

7.1 Issuer agrees to indemnify and hold harmless each Permitted Right Holder and
each person, if any, who controls a Permitted Right Holder within the meaning of
the  Securities Act against any losses, claims, damages or liabilities, joint or
several  (which  shall,  for all purposes of this Agreement, include, but not be
limited to, all reasonable costs of defense and investigation and all reasonable
attorneys' fees), to which a Permitted Right Holder may become subject under the
Securities  Act  or  otherwise,  insofar  as  such  losses,  claims,  damages or
liabilities  (or  actions in respect thereof) arise out of or are based upon any
untrue  statement  or alleged untrue statement of any material fact contained in
the  registration  statement, or amendments or supplements thereto, or arise out
of  or  are  based  upon  the  omission  or  alleged omission to state therein a
material  fact required to be stated therein or necessary to make the statements
therein not misleading; provided, however, that Issuer will not be liable in any
such  case  to  the extent that any such loss, claim, damage or liability arises
out  of  or  is  based  upon  an untrue statement or alleged untrue statement or
omission or alleged omission in any of the above-mentioned documents in reliance
upon,  and  in  conformity  with,  written  information furnished to Issuer by a
Permitted  Right  Holder  specifically  for use in the preparation thereof. This
indemnity  agreement  will  be  in  addition  to  any  liability that Issuer may
otherwise  have.

7.2  Each Permitted Right Holder agrees that it will indemnify and hold harmless
Issuer,  and  each  officer,  director of Issuer or person, if any, who controls
Issuer  within  the  meaning  of the Securities Act, against any losses, claims,
damages  or  liabilities  (which  shall,  for  all  purposes  of this Agreement,
include,  but  not  be  limited  to,  all  reasonable  costs  of  defense  and
investigation  and  all  reasonable attorneys' fees) to which Issuer or any such
officer,  director or controlling person may become subject under the Securities
Act  or  otherwise,  insofar  as such losses, claims, damages or liabilities (or
actions  in respect thereof) arise out of or are based upon any untrue statement
or  alleged  untrue statement of any material fact contained in the registration
statement,  or  amendments  or supplements thereto, or arise out of or are based
upon  the  omission  or  the  alleged  omission to state therein a material fact
required  to  be  stated therein or necessary to make the statements therein not
misleading,  but  in  each case only to the extent that such untrue statement or
alleged  untrue  statement  or  omission  or  alleged  omission  was  made  the
registration statement or amendments or supplements thereto in reliance upon and
in  conformity  with, written information furnished to Issuer by Permitted Right
Holders  specifically  for  use  in  the  preparation  thereof.  This  indemnity
agreement  will be in addition to any liability that the Permitted Right Holders
may  otherwise  have.

7.3     Promptly after receipt by an indemnified party under this Section 7.3 of
notice  of  the  commencement  of  any action, such indemnified party will, if a
claim in respect thereof is to be made against the indemnifying party under this
Section  7,  notify  the indemnifying party of the commencement thereof; but the

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 6

<PAGE>
omission  so  to notify the indemnifying party will not relieve the indemnifying
party from any liability that it may have to any indemnified party except to the
extent  of actual prejudice demonstrated by the indemnifying party.  In case any
such  action is brought against any indemnified party, and the indemnified party
notifies  the  indemnifying  party of the commencement thereof, the indemnifying
party  will  be entitled to participate in, and, to the extent that it may wish,
jointly with any other indemnifying party similarly notified, assume the defense
thereof,  subject  to  the  provisions  herein  stated and after notice from the
indemnifying  party  to  such indemnified party of its election so to assume the
defense  thereof,  the indemnifying party will not be liable to such indemnified
party under this Section 7 for any legal or other expenses subsequently incurred
by  such  indemnified  party  in  connection with the defense thereof other than
reasonable  costs  of  investigation,  unless  the  indemnifying party shall not
pursue the action to its final conclusion.  The indemnified party shall have the
right  to  employ  separate counsel in any such action and to participate in the
defense  thereof,  but the fees and expenses of such counsel shall not be at the
expense  of  the  indemnifying  party  if the indemnifying party has assumed the
defense  of  the  action with counsel reasonably satisfactory to the indemnified
party.  No  settlement  of any action against an indemnified party shall be made
without  the prior written consent of the indemnified party, which consent shall
not  be  unreasonably  withheld.

7.4     All  fees  and  expenses  of the indemnified party (including reasonable
costs  of  defense  and  investigation  in  a  manner not inconsistent with this
Section  and  all reasonable attorneys' fees and expenses), shall be paid to the
indemnified  party,  as incurred, within ten (10) days of written notice thereof
to  the  indemnifying  party;  provided, that the indemnifying party may require
such  indemnified  party to undertake to reimburse all such fees and expenses to
the  extent  it  is finally judicially determined that such indemnified party is
not  entitled  to  indemnification  hereunder.

8.     CONTRIBUTION.  In  order  to  provide for just and equitable contribution
       ------------
under  the  Securities  Act or otherwise arising out of or based upon any untrue
statement  or  alleged  untrue  statement  of  any  material fact contained in a
registration statement under Section 2, or amendments or supplements thereto, or
arising  out  of  or  based  upon  the omission or the alleged omission to state
therein  a  material fact required to be stated therein or necessary to make the
statements therein not misleading in any case in which (i) the indemnified party
makes  a  claim  for  indemnification  pursuant  to  Section  7 hereof but it is
judicially  determined (by the entry of a final judgment or decree by a court of
competent jurisdiction and the expiration of time to appeal or the denial of the
last right of appeal) that such indemnification may not be enforced in such case
notwithstanding the fact that the express provisions of Section 7 hereof provide
for  indemnification in such case, or (ii) contribution under the Securities Act
or  otherwise  may  be  required on the part of any indemnified party, in either
such  case  Issuer and Permitted Right Holders shall contribute to the aggregate
losses,  claims,  damages  or  liabilities  to  which they may be subject (which
shall,  for all purposes of this Agreement, include, but are not limited to, all
reasonable  costs  of  defense  and  investigation and all reasonable attorneys'
fees),  in  either  such  case  (after contribution from others) on the bases of
relative  fault  as  well  as  any  other relevant equitable considerations. The
relative  fault shall be determined by reference to, among other things, whether
the  untrue  or  alleged  untrue statement of a material fact or the omission or
alleged  omission  to  state  a material fact relates to information supplied by

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 7

<PAGE>
Issuer on the one hand or the Permitted Right Holders on the other hand, and the
parties'  relative  intent,  knowledge, access to information and opportunity to
correct  or  prevent such statement or omission.  Issuer and the Permitted Right
Holders agree that it would not be just or equitable if contribution pursuant to
this  Section 8 were determined by pro rata allocation or by any other method of
allocation  that  does not take account of the equitable considerations referred
to  in  this Section 8.  The amount paid or payable by an indemnified party as a
result  of  the  losses,  claims,  damages or liabilities (or actions in respect
thereof)  referred  to  above  in  this Section 8 shall be deemed to include any
legal  or  other  expenses  reasonably  incurred  by  such  indemnified party in
connection  with investigating or defending any such action or claim.  No person
guilty  of  fraudulent misrepresentation (within the meaning of Section 11(f) of
the  Securities  Act)  shall be entitled to contribution from any person who was
not  guilty  of  such  fraudulent  misrepresentation.

9.     MISCELLANEOUS
       -------------

9.1     APPLICABLE  LAW.  This  Agreement  and  all  rights  hereunder  shall be
        ---------------
governed  by,  and  interpreted  in  accordance  with,  the laws of the State of
California,  without  regard  to  the  conflicts of laws provisions thereof. The
parties  hereby  submit  to  the  nonexclusive jurisdiction of the courts of the
State  of  California  and  of  the  federal  district courts in California with
respect  to  any  action  or  legal proceeding commenced by any person or entity
relating to or arising out of this Agreement. The parties consent to the service
of  process  in  any  such  action or legal proceeding by means of registered or
certified mail, return receipt requested, in care of the address set forth below
on  the signature page or such other address as a party shall furnish in writing
to  the  other.

9.2     COUNTERPARTS  AND  FACSIMILE SIGNATURE.  This Agreement may be signed in
        --------------------------------------
counterparts,  all  of  which  when  taken  together  shall  constitute a single
executed  document.  Signatures  transmitted  by facsimile shall be deemed valid
execution  of  this  Agreement  binding  on  the  parties.

9.3     ENTIRE  AGREEMENT;  AMENDMENT.  This  Agreement  constitutes  the entire
        -----------------------------
agreement among the parties concerning the subject matter of this Agreement, and
it  supersedes  any  prior  oral  or  written agreements between the parties.  A
separate writing may inform the construction of the provisions of this Agreement
if  expressly called for by the terms of this Agreement.  This Agreement may not
be  amended  except  by  a  written  agreement signed by the party against which
enforcement  is  sought.

9.4     WAIVER.  The  failure  of a party to insist upon strict adherence to any
        ------
term  of this Agreement on any occasion shall not be considered a waiver thereof
or deprive that party of the right thereafter to insist upon strict adherence to
that  term  or  any  other  term  of  this  Agreement.

9.5     ASSIGNMENT.  Subject  to  the  limitations  below,  this Agreement shall
        ----------
inure  to  the  benefit  of  and  be  binding  upon the parties hereto and their
respective  successors  and  assigns.  The  rights  to  cause Issuer to register
Registrable  Securities  pursuant  to  this  Agreement may be not be assigned by
Permitted  Right  Holders.

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 8

<PAGE>
9.6     HEADINGS.  The  section  headings  contained  in  this Agreement are for
        --------
reference  purposes  only  and  shall  not  affect  in  any  way  the meaning or
interpretation  of  this  Agreement.

9.7     NOTICES.  All  notices  shall  be in writing and shall be deemed to have
        -------
been  sufficiently  given  or served (i) immediately, when personally delivered,
(ii)  within  three (3) days after being deposited in the United States mail, by
registered  or certified mail, or (iii) within one (1) day after being deposited
with  a reputable overnight mail carrier which provides delivery of such mail to
be  traced,  addressed  as  indicated on the signature pages below. No change of
address  shall  be valid unless it is communicated in writing to the other party
in  accordance  with  this  Section  9.7.

                     [remainder of page intentionally blank]

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 9

<PAGE>

     IN  WITNESS  WHEREOF,  the  undersigned  have  executed  and delivered this
Agreement  as  of  the  date  first  written  above.

HIENERGY  TECHNOLOGIES,  INC.,  a  Washington  corporation

By: ______________________
Name:  Barry  Alter
Its:  President

PERMITTED  RIGHT  HOLDER:
Name  of  Entity  (if  applicable): ____________

Signature: _____________________________________

Print  Name: ___________________________________

Its  (title  if  applicable): __________________

Address: _______________________________________
 _______________________________________________

          HiEnergy Technologies, Inc. - Registration Rights Agreement
                                     Page 10
<PAGE>

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