SUPPLEMENTARY EMPLOYMENT CONTRACT



This Contract is made on the 31st day of March 1996



Parties to the Contract:

A.   Hang  Fung  Jewellery  Co.  Ltd.,  of  302-303A,  3/F,  Fu Hang  Industrial
     Building, Hok Yuen Street East, Hunghom, Hong Kong ("Company"),

B.   Mr. Lam Sai Wing H.K.I.D. No. D526157(1) ("Mr. Lam"),

C.   Mrs. Lam Chan Yam Fai, H.K.I.D. No. G293329(1) ("Ms. Chan").


Whereas  pursuant  to the  Employment  Contract  between the Company and Mr. Lam
("Contract  A") and the  Employment  Contract  between  the Company and Ms. Chan
("Contract B") both dated the 1st day of January 1994.

1.   Salary of Mr. Lam for the twelve  months  period  ended 31 March 1996 being
     HK$586,950.00  subject to an increment  rate of 30% per annum  effective on
     the 1st day of January of each calendar year.

2.   Salary of Ms. Chan for the twelve  months  period ended 31 March 1996 being
     HK$391,300.00  subject to an increment  rate of 30% per annum  effective on
     the 1st day of January of each calendar year.

Whereas the Company  agrees to continue to pay a total annual  salary to Mr. Lam
and Ms. Chan which shall not exceed the total amount the Company have to pay per
Contract A and Contract B.

Whereas Mr. Lam and Ms. Chan agree to continue to receive a total annual  salary
from the Company which shall not be less than the total amount they are entitled
per Contract A and Contract B.

Now that in consideration of the respective  responsibilities  and duties of Mr.
Lam and Ms.  Chan has been  varying  from time to time,  it is  hereby  mutually
agreed amongst the Company, Mr. Lam and Ms. Chan that:

1.   Commencing  on 1st of April 1996,  Mr. Lam and Ms. Chan shall be allowed to
     share the total  amount of the annual  alary  which shall be payable by the
     Company  and  receivable  by Mr.  Lam and Ms.  Chan per the  Contract A and
     Contract B on the  portion  which is subject to review and revise from time
     to time to be mutually agreed between Mr. Lam and Ms. Chan.


     The amount of salary as agreed between and entitled by Mr. Lam and Ms. Chan
     is to be  HK$1,121,725.00  and  HK$150,000.00  respectively  for the twelve
     months period ended 31 March, 1997.

2.   Mr. Lam and Ms. Chan agree that they shall perform  duties for the Company,
     its associated  companies,  related  companies or its assigns in Hong Kong,
     and at such other place as is required.

This contract is  supplementary  to the Contract A and Contract B and signed and
agreed by:




- -----------------------------------
Hang Fung Jewellery Co. Ltd.




- -----------------------------------
Mr. Lam Sai Wing




- -----------------------------------
Mrs. Lam Chan Yam Fai





keane/lam10-K




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