Bank of Butterfield Introduces New Telephone Banking Service

Hamilton, Bermuda: 19 March 2002 - Bank of Butterfield today introduced Butterfield Direct Telephone Banking. In addition to Internet and ATM banking, this Butterfield Direct service will give customers another option to manage their money at their convenience. Following a successful pilot project, the service can now be accessed by all Bank of Butterfield customers.

"Butterfield Direct Telephone Banking is an extension of Bank of Butterfield's investment in electronic delivery services," said Ed Benevides, Vice President, E-Commerce, Bank of Butterfield. "The facility will allow customers greater flexibility in how they choose to do their banking," he added.

Butterfield Direct's Telephone Banking service allows registered customers to perform all the transactions currently conducted at an ATM, with the exception of deposits and withdrawals. Using any touch tone phone, customers can make electronic credit card and bill payments, fund transfers, re-order cheque-books and obtain general banking information.

Access to Butterfield Direct Telephone Banking is tied to each customer's ButterfieldCard. Butterfield Direct Telephone Banking is completely free, although normal bank charges apply.

Customers who already have a ButterfieldCard may quickly register for the new service over the phone by calling 299-3999. There is no need for application forms.

Further information regarding Butterfield Direct Telephone Banking can be obtained by calling 299-3999 or on Bank of Butterfield's web site at www.bankofbutterfield.com.

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