FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
/ / CHECK THIS BOX STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
IF NO LONGER
SUBJECT TO OMB APPROVAL
SECTION 16. OMB NUMBER 3235-0287
FORM 4 OR FORM 5 Expires: September 30, 1998
OBLIGATIONS Estimated average burden
MAY CONTINUE. hours per response 0.5
SEE INSTRUCTION
1(b).
Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act of
1935 or Section 30(f) of the Investment Company Act of 1940
(PRINT OR TYPE RESPONSES)
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<S> <C> <C>
1. Name and Address of Reporting 2. Issuer Name AND Ticker or 6. Relationship of Reporting Person (s) to Issuer
Person* Trading Symbol (Check all applicable)
ASA International Ltd. (ASAA)
____ Director _____ 10% Owner
__X_ Officer _____ Other
(give title below) (specify below)
Vice President and Treasurer
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(Last) (First) (Middle) 3. IRS Identification Number 4. Statement for Month/Year
of Reporting Person, if
McCarthy Terrence C. an entity (Voluntary) September, 1999
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(Street) 5. If Amendment, 7. Individual or Joint/Group Filing
Date of Original (Check Applicable Line)
10 Speen Street _X_ Form filed by One Reporting Person
___ Form filed by More than One
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(City) (State) (Zip)
TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
Framingham Massachusetts 01701
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1. Title of Security 2. Transaction Date 3.(Transaction 4.(Securities Acquired (A) 5. Amount of 6. Ownership 7.Nature
(Instr.3) (Month/Day/Year) Code (Instr 8.) or Disposed of (D) Securities Form: of
Instr. 3, 4 and 5) Beneficially Direct (D) Indirect
Owned at or Indirect Beneficial
Code V Amount (A) or Price End of (I) Ownership
(D) Month Instr. 4) (Instr. 4)
(Instr. 3 and 4)
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No change
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* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v).
Reminder: Report on a separte line for each class of securities beneficially owned
directly or indirectly.
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FORM 4 (continued) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR
BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title 2.Conversion 3.Transaction 4.Transaction 5.Number 6.Date 7.Title 8.Price 9.Number 10.Owner- 11.Nature
of or Date Code of Exercisable and Amount of of ship of
Derv- Exercise (Month/ (Instr 8) Derivative and of Derivative Derv- Form Indirect
ative Price of Day/ Securities Expiration Underlying Security ative of Bene-
Security Derivative Year) Acquired Date Securities 5) (Instr.5) Securties Derv- ficial
(Instr.3) Security (A) or (Month/ (Instr 3 Bene- ative Owner-
Disposed Day/ and 4) ficially Security ship
of (D) Year) Owned Direct (Instr.
(Instr.3, at End (D) or 4)
4 and 5) Month Indirect
(Instr.4) (I)
(Instr.4)
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Code V (A) (D) Date Expir- Title Amount
Exer- ation or
cisable Date Number
of
Shares
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Option to Purchase $2.31 9/8/99 A* 5,000 9/8/00* 9/7/09* Common 5,000 5,000 D
Stock
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Explanation of Responses:
* Grant to reporting person of option to buy 5,000 shares of Common Stock, exercisable as follows:
9/8/00 - 9/7/01, 2,500 shares; 9/8/01 - 9/7/09, 5,000 shares
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). /s/ Terrence C. McCarthy September 28, 1999
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** Signature of Reporting Person Date
Terrence C. McCarthy
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Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
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