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                                                             Exhibit 10.46

                          MASTER DISTRIBUTOR AGREEMENT

         THIS MASTER DISTRIBUTOR AGREEMENT (this "Agreement") between ATM
SERVICES, LTD., a Delaware corporation ("ATM"), and Korean Ginseng Products
Company, Ltd., a Korean Company ("Distributor").

         WHEREAS, ATM is engaged in the business of industry specific
redistribution and re-marketing of surplus inventory and assets, new product
marketing and business products and services using an e-commerce platform; and

         WHEREAS, Distributor desires to become, and ATM desires Distributor to
become, ATM's exclusive Master Distributor within Korea to sell ATM's services
in accordance with the terms and conditions of this Agreement.

NOW, THEREFORE, it is agreed as follows:

1)       EXCLUSIVE MASTER DISTRIBUTOR APPOINTMENT. ATM hereby appoints KGP, and
         KGP hereby accepts such appointment as its authorized, exclusive
         independent Master Distributor to sell and promote e-commerce and
         internet services provided by ATM in Korea (the "Territory"), including
         but not limited to services related to Korea.ATMcenter.com (the "ATM
         System"). All of Korea //WR// //KHL//

2)       MASTER DISTRIBUTOR FEE. The Master Distributor fee for Korea will be
         $1,000,000 //KHL// which can be funded in dollars, local currency or
         products (which products will be subject to acceptance by ATM).

3)       BEST EFFORTS. Distributor will use its best efforts and devote such
         time, energy and skill on a regular and consistent basis as is
         necessary to sell and promote the ATM System within the Territory and
         to sign Korean companies as members of the ATM System.

4)       REVENUE SHARING. Distributor will share in the revenues derived from
         the annual membership fees and transaction fees earned from the
         products of the members a signed ("Distributor's Members") that are
         marketed and sold by the ATM System, in accordance with Schedule A
         attached to this Agreement. Distributor will continue to receive these
         revenues with respect to the Distributor Members for as long as such
         Distributor Members pay to renew their memberships and transaction fees
         are earned from product sales of products listed by such distributor on
         the ATM System.

5)       ANCILLARY SERVICES. In addition to the foregoing, Distributor will
         assist ATM and shall perform any and all services required or requested
         in connection with ATM's business, including, but not limited to, such
         services of an advisory nature as may be requested from time to time by
         ATM. Distributor shall periodically, or at any time upon ATM's request,
         submit appropriate documentation of any and all sales and promotional
         efforts performed and to be performed for ATM pursuant to this
         Agreement.

6)       Timing of Payments. The sharing of revenues and time periods described
         in Section 3 and Schedule A will commence as of the date of the first
         Distributor member; provided, however that no payment will be due and
         payable to Distributor until 30 days from receipt of,

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//KHL// //WR//

         (a)  if due to Distributor as a result of a cash payment to ATM for
              membership fees from any Distributor Member, the total cash due
              therefore;

         (b)  if due to Distributor as a result of a payment in goods to ATM for
              membership fees from any Distributor Member, the cash from sale
              equal to the total amount due therefore; or

         (c)  if due to Distributor as a result of a sale of goods listed on the
              ATM System, the cash from sale thereof.

7)       PAYMENTS ON NET AMOUNTS. Payments due to Distributor will be paid on
         fees for services rendered by ATM and will not include freight,
         supplies, and other charges incidental to the performance of said
         services.

8)       TERMINATION. If during the first 12 (//WR// //KHL//) months after the
         date of this Agreement, Distributor has not signed at least 10 (//WR//
         //KHL//) Members that have committed dollars or products in amounts or
         quality both to be acceptable to ATM and or in accordance with the
         Schedule A attached hereto then ATM may elect to cancel this Agreement.
         Distributor will continue to share in revenues from Distributor Members
         as described in this Agreement even after this Agreement is terminated
         for three years after such termination.

9)       NON-COMPETE AND NON-DISCLOSURE. During the term of this Agreement and
         for 4 year(s) after its termination, Distributor, or any agents or
         Distributors under Distributor's control, shall not compete with ATM,
         directly or indirectly, for Distributor or on behalf of any other
         person, firm, partnership, corporation or other entity in the sale or
         promotion of services the same as or similar to ATM's services within
         the Territory. Under no circumstances and at no time shall Distributor
         disclose to any person any of the secrets, methods or systems used by
         ATM in its business. All customer lists, brochures, reports, and other
         such information of any nature made available to Distributor by virtue
         of Distributor's association with ATM shall be held in strict
         confidence during the term of this Agreement and after its termination.
         Distributor will cause its employees and agents to execute agreements
         (each an "Employee Agreement") that they will individually be bound by
         the provisions of this Section 9, and Distributor will bear the burden
         of enforcing the Employee Agreements. ATM and its affiliates will be
         express third party beneficiaries of the Employee Agreements.

10)      DISTRIBUTOR INDEPENDENT. This Agreement shall be create a partnership,
         joint venture, agency, employer/employee or similar relationship
         between ATM and Distributor. Distributor shall be an independent
         contractor. ATM shall not be required to withhold any amounts for any
         taxes from sums becoming due to Distributor under this Agreement.

11)      COSTS AND EXPENSES. Distributor shall bear any and all costs or
         expenses incurred by Distributor to perform its obligation under this
         Agreement, including, but not limited to, sub-contracting, insurance,
         and promotional expenses.

12)      LIMITATION. Distributor is not authorized to extend any warranty or
         guarantee or to make representations or claims with respect to ATM's
         services without express written authorization from ATM. //WR// //KHL//

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13)      INDEMNIFICATION. Distributor shall indemnify and hold ATM harmless of
         and from any and all claims or liability arising as a result of
         negligent, intentional or other acts of Distributor or its agents or
         Distributors.

14)      GOVERNING LAW. THIS AGREEMENT, AND ALL TRANSACTIONS CONTEMPLATED
         HEREBY, SHALL BE GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH
         THE LAWS OF THE STATE OF NEW YORK, UNITED STATES OF AMERICA. THE
         PARTIES HEREIN WAIVE TRIAL BY JURY AND AGREE TO SUBMIT TO THE PERSONAL
         JURISDICTION AND VENUE OF A U.S. COURT OF SUBJECT MATTER JURISDICTION
         LOCATED IN NEW YORK COUNTY, STATE OF NEW YORK, UNITED STATES OF
         AMERICA.

15)      NOTICES. Any notice under this Agreement shall be deemed given on the
         third business day following the mailing of any such notice, postage
         paid, to the address set forth below.

16)      ENTIRE AGREEMENT. This Agreement contains the entire agreement between
         the parties and any representation, promise or condition not
         incorporated herein shall not be binding upon either party.

IN WITNESS WHEREOF, the parties have executed this Agreement on the date first
written above.

ATM SERVICES, LTD.                                   [Address]

By: //s// Warren Rothstein  9/30/99 See Below        //WR//
    -----------------------------------------        10/8/99
     Warren Rothstein
     Chairman

MASTER DISTRIBUTOR                                   [Address]

By: //s// Kyou Hong Lee                              //KHL//
    --------------------
Name:  Kyou Hong Lee
Title: CEO

                                     //WR//

         //WR// Signed subject to the mutual acceptance and approval by both
parties under separate agreement to items #1 the Territory, #2 the Master
Distributor Fee and #8 Termination. //WR// //KHL//<PAGE>

                                                                   Exhibit 10.48

                   ISRAEL IN-COUNTRY REPRESENTATIVE AGREEMENT

This agreement ("Agreement") is entered into this 2nd day of March 2000, by and
between ATM Service, Ltd., a New York corporation ("ATM"), having its usual
place of business at 220 White Plains Road, Tarrytown, NY 10591, and MG Capital
(MG) having its usual place of business at 11 Amal St., Park Afeq, Israel 48091
Israel.

WHEREAS, ATM is in the business of creating and operating internet based
business to business portals that provide a platform for clients who wish to
optimize their return on existing products, services, items of value,
advertising, merchandise, real estate and assets of all types, surplus,
closeouts, discontinued product lines or excess in available capacity and/or
production time.

WHEREAS, ATM and MG desire to enter into a representation agreement for an ATM
office in Israel.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the
parties hereto agree as follows:

I.       FORMATION AND OPERATION:

         A.    MG and ATM hereby agree to create an in-country representation in
               Israel of ATM Service Ltd. B. All business of ATM Israel shall be
               conducted under the name and style of ATM Service, Ltd.

         C.    The parties hereto recognize that the words ATM Service Ltd.,
               ATM, ATMCenter.Com or any of its uses or variations, are the
               trade names, trademarks and sole property of ATM Service Ltd.

         D.    In the event of the termination of the representation, or the
               disassociation of ATM from the representation for any reason, all
               rights to use the name or any form of ATM by MG shall cease the
               day that the representation agreement is terminated.

         E.    MG as representative shall solely be in the business of engaging
               in programs of selling the then current Internet based services
               provided by ATM Service Ltd. ATM recognizes that MG is a
               pre-existing company, with existing lines of businesses. For the
               purposes of this agreement, ATM acknowledges that MG will
               continue to engage in its pre-existent businesses since they do
               not carry a conflict of interest. MG agrees not to enter into any
               e-business that may create a conflict of interest in its
               relationship with ATM.

         F.    MG shall receive twenty (25%)[sic] of ATM's gross profits in the
               different Revenue Share Agreements (to be introduced by you and
               entered into by ATM with other parties in Israel) and or for any
               merchandise acquired under such

                                                                   //MG// //WR//

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               agreements or independently of any such agreements. This
               percentage may be amended by mutual agreement from time to time.
               Should ATM elect to enter into a JV or Master Distributor
               agreement in Israel with a third party not introduced to ATM by
               you, you shall not be entitled to a share of gross profits, or
               otherwise, as stated above. Payments to you for "in kind"
               transactions are to be 10% of the gross profit dollars realized
               by ATM, if sold, and no fee if the products and services are not
               sold and are used to operate the business or to offset technology
               "cost" transfers. Fee Structure attached.

         G.    For the purpose of defining "gross profits" it shall be the
               difference between (x) the sale proceeds realized, less direct
               costs such as, among others, shipping, warehousing, cost of
               financing, cost of technology implementation and commissions to
               third parties, if any and (y) the amounts remitted to suppliers
               (i.e. the cost of goods), on a transaction basis, initiated and
               completed during the term of the representation. By calculating
               gross profits on all transactions were [sic] there is a gross
               profit, and the amount of your rights to gross profit will not be
               reduced by transactions were [sic] there is not a gross profit.

         H.    When the revenue is paid in product, ATM will pay MG its share as
               stated above, when the products are sold by ATM 10 days net after
               collection of any funds due to ATM whether for inventory or
               non-inventory related transactions.

         I.    MG daily operations in Israel shall be under MG's direction and
               control.

         J.    MG business development strategy, all major business decisions
               and all decisions concerning employment of employees or use of
               finders or agents shall be made jointly by MG and ATM, which
               consent may be withheld by ATM for any reasons.

         K.    MG shall assign office space, staff, secretarial and other
               services, office equipment and communications to conduct the
               representation in an effective way.

         L.    The term of the representation shall be at least one (1) year,
               commencing as of the date hereof, and shall automatically renew
               itself every year, unless otherwise terminated by either party
               upon sixty (60 days prior written notice, subject only to MG not
               achieving the goals set forth in the business plan attached as
               Annex A).

II.      MG AGREEMENT WITH ATM

         A.    ATM shall upon the request of MG promptly provide the
               representative with: (1) office sales assistance and sales
               support; (2) fulfillment and assistance with trades by making its
               inventory and supply channels fully available; and (3) such other
               cooperation and assistance as may reasonably be requested.
                                                                    //MG////WR//

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         B. ATM and MG shall each assume obligation for their own expenses
including but not limited to the following:

                  (1) Rental payments of the office space
                  (2) All pre-business expenses attributable to the
                      representation
                  (3) Cost and expenses of a secretary and/or
                      office/administrative staff
                  (4) Furniture, fixtures, and other office equipment such as
                      computers, copy machine and other office equipment
                  (5) Telephone system inclusive of installation and monthly
                      billing charges
                  (6) Office supplies
                  (7) All travel and entertainment expenses
                  (8) Generally all other operating expenses normally incurred
                      in running a business

         C.    ATM may make use of the MG offices, for the conduct of ATM
               business while visiting Israel at no charge, if needed or
               desired, and MG may make use of ATM offices in New York at no
               charge, while visiting the US.

         D)    Within your in country Rep Agreement should ATM enter into a JV
               partnership or Master Distributor with someone in your country
               ATM may require a marketing and or operating budget to be
               provided. If we do and it is to be provided it will be the desire
               of ATM to use your status and organization as our entity in your
               country to assist in the JV or Master Distributorship
               development. If accepted and agreed to by the JV or Master
               Distributor we will advise you of such and it will be your option
               at that time to take the appointment and to operate with a budget
               to be prepared and provided be either ATM or the JV / Master
               Distributor or both. All other terms and conditions would remain
               the same except that your percentage would be diluted by the
               structure of the Master Distributor or JV agreements and
               percentages thereof.

III.     ACCOUNTING AND FINANCIAL RECORDS

         A.    (1) Separate books of account for the representative office and
               all matters pertaining to it shall be kept and maintained at the
               principal office of MG and ATM. All records shall be open for
               audit by ATM and MG at all reasonable times. (2) A separate
               accounting with financial records and other relevant
               documentation inclusive of all applicable discounts and rebates
               shall be given by ATM to MG, upon request, for all transactions
               between ATM and MG introduced transactions.

                                                                   //WR// //MG//

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IV.      TERMINATION FOR CAUSE

         If ATM or MG fails to honor any of its material obligations hereunder
         after thirty (30) days prior written notice during which any such
         condition may be cured; and/or if ATM or MG is the subject of a
         voluntary or involuntary bankruptcy petition, reorganization, creditors
         composition or similar proceeding, then such an occurrence shall
         constitute an Event of Default. Upon the occurrence of an Event of
         Default, the non-defaulting party may declare in writing that the
         relationship and agreement is Terminated for cause. Upon such a
         declaration of termination for cause, the agreement is thereby
         immediately terminated. Termination of the agreement shall not
         otherwise effect any rights and obligations which have accrued in
         transactions closed prior to termination which shall entitle M.G. to be
         paid for as long as ATM does business with the account introduced to
         ATM by M.G. and that ATM concluded a successful transaction with. Not
         achieving the goals set forth in the business plan attached, unless
         waived by ATM, will provide cause for termination.

V.       GENERAL PROVISIONS

      A.   Nothing herein shall be construed to create a general partnership or
           joint venture between the parties or to authorize or to permit either
           party to bid for of to undertake any other contracts for the other
           party.

      B.   Neither this agreement nor any interest of the parties herein
           (including any interest in monies belonging to or which may accrue to
           the office in connection with its business) may be assigned, pledged,
           transferred or hypothecated, without the prior written consent of the
           parties thereto.

      C.   Each party hereto agrees to deal fairly and in good faith with the
           other in carrying out the terms and provisions hereof.

      D.   Neither party shall have the right to borrow money on behalf of the
           other party, or to use the credit of the other party for any purpose.

      E. ATM warrants and represents that:

           (1) It has full power and authority to enter into and perform this
               agreement in accordance with its terms.
           (2) MG is a corporation duly organized, validly existing and in good
               standing under the laws of Israel.
           (3) The execution, delivery and performance of this agreement have
               been duly authorized by all requisite corporate actions of said
               corporation.

      G.   MG and all employees agree that during the existence of

                                                                   //WR// //MG//

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           this Agreement neither MG nor any entity, with which any of them is
           affiliated, shall compete with the business of the ATM office in
           Israel.

      H.   Any and all notices, requests, demands or other relevant
           communications hereunder shall be in writing and shall be deemed
           given if sent by Certified Mail, postage prepaid, return receipt
           requested, to each of the parties at the following addresses, or to
           such addresses as may from time to time be designated by any of them
           in writing by notice similarly given to all parties in accordance
           with this paragraph.

      ATM Service Ltd.                              MG Capital Ltd.
      Attention:  Warren Rothstein                  11 Amal Street
      220 White Plains Road                         Park Afeq
      Tarrytown, NY  10591                          Israel 48091

      I.   This Agreement constitutes the complete agreement and understanding
           between the parties hereto with respect to the matters set forth
           herein, and supersedes and terminates any and all prior and existing
           agreement or understandings between and of the parties hereto. No
           alteration, assignment, amendment or modification of any of the terms
           and provisions of this Agreement shall be valid unless made pursuant
           to an instrument in writing hereto signed by each of the parties
           hereto. The failure of any party hereto at any time or times to
           require performance of any provision hereof shall in no manner affect
           the right of such party at a later date to enforce same. No waiver by
           any party of any conditions, or of the breach of any provision,
           terms, covenant, representation or warranty contained in this
           Agreement, whether by conduct or otherwise, shall be deemed to be
           construed as a further or continuing waiver of any such condition or
           of the breach of any other provisions, terms, covenant,
           representation or warranty of the Agreement.

      J.   This agreement and all matters thereto shall be governed exclusively
           by the laws of the State of New York and the parties agree to
           jurisdiction in the courts of New York. Any dispute arising out of or
           relating to the making or performance of this Agreement shall be
           resolved by arbitration before the American Arbitration Association
           under its Commercial Arbitration Rules, and the arbitrators shall
           render their decision strictly in accordance with all the provisions
           of this Agreement.

                                                                  //WR//  //MG//

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                  IN WITNESS, WHEREOF, the parties have signed this Agreement
the day and year first written above written.

                  ATM SERVICE LTD.              MG

           By //s// WARREN ROTHSTEIN            By //s// MOSHE GOLAN
              ------------------------             -------------------------
           Warren Rothstein                          Mr. Moshe Golan
           Chairman                                  President & CEO

      WR/rc

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