May 18 (Reuters) - Authorised Investment Fund Ltd (AIY) :
- Company has reached an agreement in principle with peter j. sterling
- Says serial funds required for the project are expected to amount to around
$2 million
- Says new Australian company will be formed with aiy as a 20% owner of the
project
- Says agreement will result in aiy having a 20% interest in the hi-tech
research and development project
