INITIAL CAPITAL AGREEMENT

99.2


Shinwa  Yosetsu  and  Amanasu  Environment  Corporation  have  entered  into  an
agreement  under  the  following  conditions;

1.   Establishment  of  facilities  to  manufacture  plants  of  water
     purification  system  and/or  sea water desalination system and opening the
     market  in  various countries in Asia, including Japan. Amanasu Environment
     Corporation  will  fund  $100,000  to  establish  a new company in order to
     conduct the project efficiently.

2.   Shinwa  Yosetsu  will  provide  equipment  and  machines  necessary  for
     producing the products for the new company.

3.   Establishment  of  the  new  company  is to be executed in March of 2005.

4.   In  regards  to  subjects  that  are  not  attended to on this Agreement or
     any  misunderstanding  of  provisions on this Agreement, Shinwa Yosetsu and
     Amanasu shall faithfully discuss and determine a solution for such matters.



March 8, 2005


Yoshiyuki Suzuki                        Shinwa Yosetsu
President                               678-1 Niisato-mura Okubo
                                        Seta-Gun, Gunma, Japan


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Atsushi  Maki                           Amanasu Environment Corporation
President                               701 5th Avenue, 42nd floor
                                        Seattle, WA 98104, USA


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