AGREEMENT TO CANCEL MANAGEMENT CONTRACT

 AGREEMENT TO CANCEL MANAGEMENT CONTRACT

     This Agreement is made and entered into this 18th day of June,  1999 by and
between:

POWERSOFT TECHNOLOGIES, INC.
1088-650
West Georgia Street
P.O. Box 11586
Vancouver, B.C.
Canada V6B 4N8

AND

HENG FAI MANAGEMENT, INC.
10TH  Floor,
Lippo Protective Tower
231-235
Gloucester Road
Wanchai, Hong Kong

THE PARTIES  hereby  agree to cancel the  management  contract  entered  into on
November 1, 1996 by and between the owners of Powersoft Technologies,  Inc., and
Heng Fai Management,  Inc., pursuant to which Powersoft  Technologies,  Inc. was
required to pay U.S.$500,000.00 per year to Heng Fai Management, Inc.

This agreement shall be effective as of June 18, 1999.

         POWERSOFT TECHNOLOGIES, INC.

         /s/ Robert H. Trapp
         -------------------------------------
         Robert H. Trapp, Director

         SAR TRADING LIMITED

         /s/ Fai H. Chan
         -------------------------------------
         Fai H. Chan, Director 

Basic Info X:

Name: AGREEMENT TO CANCEL MANAGEMENT CONTRACT
Type: Agreement to Cancel Management Contract
Date: Aug. 3, 1999
Company: ASIA SUPERNET CORP
State: Colorado

Other info:

Date:

  • 18th day of June , 1999
  • November 1 , 1996
  • June 18 , 1999

Organization:

  • Heng Fai Management , Inc.
  • Powersoft Technologies , Inc.

Location:

  • West Georgia
  • Vancouver
  • Canada
  • Wanchai
  • Hong Kong

Money:

  • $ 500,000.00

Person:

  • Robert H. Trapp
  • Fai H. Chan