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Quasi module is an axiomatisation of the hyperspace structure based on a module. We proposed this structure in our paper [2]. It can be thought of as a generalisation of the module structure in the sense that every module can be embedded into a quasi module and every quasi module contains a module. The structure of quasi module is designed on a commutative semigroup with an external ring multiplication and a compatible partial order which has a very intrinsic effect in the entire structure and plays a key role in any development of the theory of quasi module. In this paper we have introduced the concept of exact sequence on quasi modules and proved some Theorems related to exact sequences. [ABSTRACT FROM AUTHOR]