<PAGE> 1
---------------------------
OMB APPROVAL
---------------------------
-------- OMB Number: 3235-0104
FORM 3 Expires: September 30, 1998
-------- Estimated average burden
hours per response..... 0.5
---------------------------
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
<TABLE>
<S> <C> <C> <C>
(Print or Type Responses)
-----------------------------------------------------------------------------------------------------------------------------------
1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or 6. If Amendment, Date
Statement Trading Symbol of Original
Zilkha Selim K. (Month/Day/Year) Asia Web Holdings, Inc. (AWHI) (Month/Day/Year)
---------------------------------------- -----------------------------------
(Last) (First) (Middle) 06/26/00 5. Relationship of Reporting -----------------------
---------------------------- Person to Issuer 7. Individual or Joint/
1001 McKinney, Suite 1900 3. IRS or Social Security (Check all applicable) Group Filing (Check
---------------------------------------- Number of Reporting Director X 10% Owner Applicable Line)
(Street) Person (Voluntary) ----- ----- X Form filed by
Officer Other (specify --- One Reporting
Houston TX 77002 ---------------------------- ----- ----- below) Person
-------------------------------------- (give title below) Form filed by
(City) (State) (Zip) --- More than One
------------------------------ Reporting Person
-----------------------------------------------------------------------------------------------------------------------------------
TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
-----------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 5)
(Instr. 5)
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
*If the form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (7-96)
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) Exercisable and Securities Underlying sion or ship Beneficial Ownership
Expiration Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/ (Instr. 4) Price of Deriv-
Year) Deri- ative
vative Security:
Security Direct
------------------------------------------------- (D) or
Date Expira- Amount or Indirect (I)
Exercis- tion Title Number (Instr. 5)
able Date of Shares
------------------------------------------------------------------------------------------------------------------------------------
Series B Convertible 06/26/00 (1) Common Stock, 5,000,000 $2.00 I By Trust(2)
Preferred Stock(1) par value $.001
per share
------------------------------------------------------------------------------------------------------------------------------------
Warrant (right to buy) 06/19/00 06/19/05 Common Stock, 5,000,000 $2.00(3) I By Trust(2)
par value $.001
per share
------------------------------------------------------------------------------------------------------------------------------------
Warrant (right to buy) 06/19/00 06/19/05 Common Stock, 2,000,000 $5.00 I By Trust(2)
par value $.001
per share
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses:
(1) Each share of Series B Convertible Preferred Stock is convertible into five shares of the Company's stock at any time.
(2) Securities are held by a trust of which the Reporting Person is the trustee, settlor and beneficiary.
(3) Exercise price is $2.00 per share until June 19, 2003; thereafter, exercise price is $4.00 per share.
/s/ Selim K. Zilkha 07/06/00
**Intentional misstatements or omissions of facts constitute Federal Criminal ------------------------------- -------------
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). **Signature of Reporting Person Date
Note. File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 2
SEC 1473 (7-96)
</TABLE>
