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Bank of Butterfield Continues Share Buyback

Hamilton, Bermuda: 2 October 2002 - The Bermuda Stock Exchange (BSX) has been advised by the Bank of Butterfield that in September the Bank or its subsidiaries bought back and cancelled a total of 155,600 of its own shares at an average price of $30.98

The repurchases were made under the share repurchase programme announced January 5, 2000.