BSX Approves Listing of Additional Portfolio of The All Points Multi-Manager plc

In December 2002 the Company was granted approval by the BSX for a secondary listing of up to 5,000,000,000,000 Participating Shares, divided initially between 13 Portfolios. The Company has a primary listing on the Irish Stock Exchange.

The Company was incorporated in Ireland on 13 April 1999 and is structured as an umbrella fund in that different Portfolios may be established with the prior approval of the Central Bank of Ireland.

Each Portfolio is linked to a separate class of assets and liabilities and has its own specific investment objectives. In addition, each Portfolio may have more than one share class allocated to it. The Company will seek to achieve the objective on behalf of each Portfolio through careful selection of investment advisers which are, in the opinion of the Investment Manager, of the highest quality with a proven track record.

The listing of the US Core Equity Portfolio of the All Points Multi-Manager plc. is sponsored by Bermuda International Securities Ltd., (a wholly owned subsidiary of the Bank of Bermuda Limited, Hamilton, Bermuda). The securities are being listed under the Listing Regulations for Collective Investment Vehicles and the provisions for General Marketing.

"The new US Core Equity Portfolio allows us to offer a core holding for new investors, and additional diversification services to our existing Multi-Manager investors," noted Brian Boyd, General Manager of Mutual Fund Services. "The addition of this new portfolio will enable investors to more effectively manage market volatility and style rotations in the US markets. The listing also reaffirms the Bank's continued support for the BSX and the role of BISL as a Listing Sponsor of choice"

"We are very pleased to have the additional Portfolio of the All Points Multi-Manager plc listed on the BSX", said Mr. James S. McKirdy, Chief Compliance Officer of the BSX.