ASSET PURCHASE AGREEMENT



                                     BETWEEN



                 GSI LUMONICS LIFE SCIENCE TRUST ("SELLER"), AND



                      GSI LUMONICS TRUST, INC. ("TRUSTEE")



                                       AND



                      PACKARD BIOSCIENCE COMPANY ("BUYER")











                                 August 19, 2000











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                                TABLE OF CONTENTS







SECTION 1 - DEFINITIONS.....................................................11



SECTION 2 - BASIC TRANSACTION...............................................16

    Section 2.1          Purchase and Sale of Assets........................16

    Section 2.2          Assumption of Liabilities..........................16

    Section 2.3          Purchase Price.....................................16

    Section 2.4          Purchase Price Adjustment..........................16

    Section 2.5          The Closing........................................17

    Section 2.6          Deliveries at the Closing..........................17

    Section 2.7          Allocation of Purchase Price.......................18



SECTION 3 - REPRESENTATIONS AND WARRANTIES OF TRUSTEE AND SELLER............18

    Section 3.1          Organization of Seller and Trustee.................18

    Section 3.2          Authorization of Transaction.......................18

    Section 3.3          Noncontravention...................................19

    Section 3.4          Brokers' Fees......................................19

    Section 3.5          Acquired Assets; Title to Assets...................19

    Section 3.6          Financial Statements...............................19

    Section 3.7          Events Subsequent to Most Recent Statement Date....19

    Section 3.8          Legal Compliance...................................21

    Section 3.9          Taxes..............................................21

    Section 3.10         Leased Property....................................21

    Section 3.11         Intellectual Property..............................21

    Section 3.12         Tangible Asset.....................................23

    Section 3.13         Inventor...........................................23

    Section 3.14         Contracts..........................................23

    Section 3.15         Insurance..........................................24

    Section 3.16         Litigation.........................................25

    Section 3.17         Product Warranty...................................25

    Section 3.18         Product Liability..................................25

    Section 3.19         Employees..........................................25

    Section 3.20         Employee Benefits..................................25

    Section 3.21         Environment, Health and Safety.....................27

    Section 3.22         Certain Business Relationships With Seller.........27

    Section 3.23         Accounts Receivable................................27

    Section 3.24         Licenses and Permits...............................28

    Section 3.25         Undisclosed Liabilities............................28

    Section 3.26         Books and Records..................................28

    Section 3.27         Investment.........................................28

    Section 3.28         Disclosure.........................................28



SECTION 4 - REPRESENTATIONS AND WARRANTIES OF BUYER.........................28

    Section 4.1          Organization of Buyer..............................29

    Section 4.2          Authorization of Transaction and Financial Status..29

    Section 4.3          Noncontravention.................................. 29

    Section 4.4          Brokers' Fees......................................29

    Section 4.5          Capitalization of Buyer............................29

    Section 4.6          SEC Filings; Financial Statements..................30

    Section 4.7          Events Subsequent to June 30, 2000.................30

    Section 4.8          Legal Compliance...................................30

    Section 4.9          Undisclosed Liabilities............................30

    Section 4.10         Disclosure.........................................31







<PAGE>







SECTION 5 - COVENANTS.......................................................31

    Section 5.1          Covenants Pending Closing..........................31

    Section 5.2          Post-Closing Covenants.............................32

    Section 5.3          Indemnification Provisions for Benefit of Buyer....34

    Section 5.4          Indemnification Provisions for Benefit of Trustee

                         and Seller.........................................35

    Section 5.5          Indemnification Matters Involving Third Parties....36

    Section 5.6          Other Indemnification Matters......................37



SECTION 6 - CONDITIONS TO OBLIGATION TO CLOSE...............................37

    Section 6.1          Conditions to Obligation of Buyer..................37

    Section 6.2          Conditions to Obligation of Seller.................38



SECTION 7 - CLOSING DOCUMENTS...............................................38

    Section 7.1          Seller Deliveries..................................38

    Section 7.2          Buyer Deliveries...................................39



SECTION 8 - NONCOMPETITION..................................................40

    Section 8.1          Materiality........................................40

    Section 8.2          Prohibited Activities of Seller....................40

    Section 8.3          Prohibited Activities of Buyer.....................40

    Section 8.4          Remedies...........................................40

    Section 8.5          Jurisdiction.......................................41



SECTION 9 - OTHER AGREEMENTS................................................41

    Section 9.1          Press Releases and Public Announcements............41

    Section 9.2          No Third-Party Beneficiaries.......................41

    Section 9.3          Entire Agreement...................................41

    Section 9.4          Succession and Assignment..........................41

    Section 9.5          Counterparts.......................................41

    Section 9.6          Headings...........................................41

    Section 9.7          Notices............................................42

    Section 9.8          Governing Law......................................43

    Section 9.9          Amendments and Waivers.............................43

    Section 9.10         Severability.......................................43

    Section 9.11         Expenses...........................................43

    Section 9.12.        Construction.......................................43

    Section 9.13.        Incorporation of Exhibits and Schedules............43

    Section 9.14.        Termination........................................43







<PAGE>







                                LIST OF SCHEDULES







Schedule 1.1............................................................... .1

Schedule 1.2.................................................................1

Schedule 1.3(a)..............................................................5

Schedule 1.3(b)..............................................................5

Schedule 3.1(a).............................................................10

Schedule 3.1(b).............................................................10

Schedule 3.1(c).............................................................10

Schedule 3.3................................................................11

Schedule 3.4................................................................11

Schedule 3.6................................................................11

Schedule 3.7................................................................12

Schedule 3.10...............................................................14

Schedule 3.11(a)............................................................15

Schedule 3.11(b)............................................................15

Schedule 3.11(c)............................................................15

Schedule 3.11(d)............................................................16

Schedule 3.14...............................................................17

Schedule 3.15...............................................................18

Schedule 3.16...............................................................19

Schedule 3.19...............................................................19

Schedule 3.20...............................................................20

Schedule 3.22...............................................................20

Schedule 3.24...............................................................23

Schedule 4.5................................................................25

Schedule 4.7................................................................26







<PAGE>







                                LIST OF EXHIBITS







Exhibit A - Bill of Sale.....................................................7

Exhibit B - Assignment Documents.............................................7

Exhibit C - Assumption.......................................................7

Exhibit D - Sublease........................................................30

Exhibit E - Parent Guarantee................................................30

Exhibit F - Transition Services Agreement...................................30

Exhibit G - Registration Rights Agreement...................................30

Exhibit H - Opinion of Counsel to Seller and Trustee........................

Exhibit I - Opinion of Counsel to Buyer.....................................







<PAGE>







                            ASSET PURCHASE AGREEMENT







      This Asset Purchase  Agreement  ("Agreement") is entered into as of August

19, 2000 among Packard BioScience Company, a Delaware corporation ("Buyer"), GSI

Lumonics  Life  Science  Trust,  u/t/a  dated June 5, 2000  ("Seller"),  and GSI

Lumonics Trust, Inc., a Massachusetts corporation ("Trustee"). The Buyer, Seller

and Trustee are referred to  collectively in this Agreement as the "Parties" and

individually as a "Party."



      This  Agreement  contemplates  a  transaction  in which Buyer will, on the

terms and conditions set forth in this Agreement,  purchase substantially all of

the  assets  (and  assume  certain  of  the   liabilities)  of  Seller  for  the

consideration specified in this Agreement.



      In  consideration   of  the  mutual  promises  and  the   representations,

warranties,  and  covenants  contained in this  Agreement,  the Parties agree as

follows.





                                    SECTION 1

                                   DEFINITIONS



         For  purposes  of this  Agreement,  the terms set forth  below have the

following meaning:



         "Acquired  Assets"  means  all  of  the  Business,   goodwill,  assets,

properties and rights of every nature, kind and description, whether tangible or

intangible, real, personal or mixed, wherever located and whether or not carried

or  reflected  on the books and  records of Seller or any  Affiliate  of Seller,

which are owned by Seller or in which  Seller has any  interest  (including  the

right to use),  or which are used by Seller  or any  Affiliate  of Seller in the

Business as of the Closing Date, except those items  specifically  listed on the

Schedule 1.1 (the "Excluded Assets"). The Acquired Assets shall include, but not

be limited to, the following (except to the extent that any of the following are

Excluded Assets):



                  (a)  All  tangible   personal  property  (such  as  machinery,

equipment, inventories of raw materials and supplies, manufactured and purchased

parts, goods in process and finished goods, furniture, and tools);



                  (b)  All   leaseholds   and   subleaseholds,   and  easements,

rights-of-way, and other appurtenants thereto (such as appurtenant rights in and

to public streets), excluding any improvements,  fixtures, and fittings thereon,

subject to the terms of the Sublease.



                  (c) All Intellectual Property,  associated goodwill,  licenses

and  sublicenses   granted  and  obtained  with  respect  thereto,   and  rights

thereunder,  remedies against infringements thereof, and rights to protection of

interests therein under the laws of all  jurisdictions,  other than any right to

Seller Corporate Names.



                  (d)      All agreements, indentures, instruments, guaranties,

other similar arrangements, and rights thereunder as set forth on Schedule 1.2

(the "Assigned Contracts");

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