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Bermuda Bakery Limited Announces Acting General Manager

15 15 2004

Hamilton, Bermuda: January 14, 2004 - Bermuda Bakery Limited Board Chairman, Mr. James A. Pearman announced today that due to ongoing medical issues which rendered him unable to carry out his duties as General Manager, Mr. John Massa no longer holds the position of General Manager, effective as of 31 December 2003. Due to these unfortunate circumstances, effective immediately, company Financial Controller, Mr. Eric Vauhkonen has been appointed Acting General Manager.

"Mr. Vauhkonen has contributed to both the strategic direction and day-to-day operations of the company. His industry knowledge, financial acumen, and administrative ability will assist the company as it continues its restructuring," says Mr. Pearman.

Mr. Vauhkonen brings over 15 years of bakery and manufacturing experience to the company. He holds a Bachelor of Business Science, a Master of Business Science (Finance), and is a Certified Management Accountant.

Signed By:

Mr. James A. Pearman

Chairman of the Board

Bermuda Bakery Limited