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E-Commerce

CEPO Systems Pty Ltd (19.9%)

CEPO Systems Pty Ltd (“CEPO”) is an Internet hosted Business to Business (“B2B”) company that was acquired in November 1999. Since its establishment, CEPO continually strived to develop and refine its unique e-commerce systems to provide cost effective, efficient and reliable e-solutions and e-invoices to its clients, while satisfying the relevant industry standards. CEPO established strategic alliances with several leading suppliers and distributors throughout the Australian liquor industry to automate the manual process of data entry. More recently, CEPO has developed a Mobile On Line ordering product with its partners, which is expected to be released to the market in the near future.

In early May 2003, Oropa reached agreement with the major shareholders of CEPO for Oropa to sell its 19.9% shareholding in CEPO for a cash consideration of $100,000. All documentation has been placed in trust with Oropa’s solicitors until the purchase price is paid in full, after which Oropa will transfer its shares to CEPO’s major shareholders. While Oropa retains its equity in CEPO, CEPO is obliged to inform Oropa of its quarterly activities. Upon CEPO making the full $100,000 settlement to Oropa, Oropa will relinquish its intellectual property rights in the five countries it originally negotiated to represent CEPO in at the time that the Company acquired its interest in CEPO. Under the terms of the current sale contract, Oropa has the right to purchase a 5% interest in CEPO within 2 years of the settlement date for cash consideration of $200,000.



			E-Commerce CEPO Systems Pty Ltd (19.9%) CEPO Systems Pty Ltd (“CEPO”) is an Internet hosted Business to Business (“B2B”) company that was acquired in November 1999. Since its establishment, CEPO continually strived to develop and refine its unique e-commerce systems to provide cost effective, efficient and reliable e-solutions and e-invoices to its clients, while satisfying the relevant industry standards. CEPO established strategic alliances with several leading suppliers and distributors throughout the Australian liquor industry to automate the manual process of data entry. More recently, CEPO has developed a Mobile On Line ordering product with its partners, which is expected to be released to the market in the near future. In early May 2003, Oropa reached agreement with the major shareholders of CEPO for Oropa to sell its 19.9% shareholding in CEPO for a cash consideration of $100,000. All documentation has been placed in trust with Oropa’s solicitors until the purchase price is paid in full, after which Oropa will transfer its shares to CEPO’s major shareholders. While Oropa retains its equity in CEPO, CEPO is obliged to inform Oropa of its quarterly activities. Upon CEPO making the full $100,000 settlement to Oropa, Oropa will relinquish its intellectual property rights in the five countries it originally negotiated to represent CEPO in at the time that the Company acquired its interest in CEPO. Under the terms of the current sale contract, Oropa has the right to purchase a 5% interest in CEPO within 2 years of the settlement date for cash consideration of $200,000.