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Executive Appointments Announced By Bank of Bermuda

Hamilton, Bermuda: 6 November 2001- Bank of Bermuda is very pleased to announce a number of executive appointments.

Patricia Bean is joining the Bank to take up the position of Head of Human Resources, effective Wednesday 7 November. She will be an Executive Officer and have responsibility for the development and implementation of global Human Resources strategy, policies, procedures and programmes.

Mrs Bean's previous post was as Senior Vice President, Human Resources, at Bank of Butterfield where she was employed from 1993. She worked in Bank of Bermuda's Human Resources Division between 1987 and 1993 and prior to that for the Bermuda Employers' Council.

Philip Butterfield, Chief Operating Officer commented: €˜I'm delighted Patricia is joining us at Bank of Bermuda. She brings with her a strong background in strategic Human Resources management. We are looking forward to welcoming her back.'

The previous Head of Human Resources, Mark Perreault, has moved into the Private Client Services division to head up the development of personal financial solutions for clients in Bermuda, which will form part of an expanded offering of our wealth management services.

Mr. Perreault joined the Bank in 1984. Following experience in the Corporate Trust division and Investment Services, in 1989 he was appointed Deputy Manager, Investments and assumed responsibility for retail brokerage and high net worth Private Banking clients. In 1992 he transferred to Human Resources, and was appointed to his present position in March 1997.

Danny Fox, previously Bank of Bermuda's General Manager, Retail Client Services, is being promoted to Head of Retail Client Services, effective immediately.

After joining the Bank in 1972, Mr Fox had several appointments within the Retail Clients Services division, before he was made General Manager, Retail Client Services in 1999, and became a member of the Bank's Executive Management Team.

Alan Richardson is leaving the post of Head of Retail Client Services to head up a new global division - Banking and Credit Products. In this new role, Mr Richardson will have responsibility for developing and managing all banking and credit products for the organisation.

Mr. Richardson joined Bank of Bermuda in April 1988 working within the Accounts department and transferred to the Retail Banking division in May 1991. Following a number of promotions, and a secondment to the Bank's overseas offices in Asia and Europe, Mr. Richardson was promoted to the post of Head of Retail Client Services in July 1999.