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BSX Declares Bermuda Commercial Bank Shares & Warrants & Bermuda Press (Holdings) Shares Depository

30 30 2004

Hamilton, Bermuda: 30 April 2004 - The Bermuda Stock Exchange (BSX) today announced that the Common Shares and Warrants of Bermuda Commercial Bank (BCB.BH & BCBW.BH), and the Common Shares of Bermuda Press (Holdings)(BPH.BH) are now €˜depository eligible' for the Bermuda Securities Depository (BSD).

This means that effective 3rd May 2004, anyone holding Bermuda Commercial Bank Common Shares or Warrants and/or Bermuda Press (Holdings) Shares may enter their holdings into the BSD through a BSD participant. BSD participants include, BSX Trading Members, Banks, Custodians and other providers of nominee account services.

As of Monday 3rd May 2004 only Bermuda Commercial Bank Shares and Warrants and the Bermuda Perss (Holdings) Shares that have been entered into the BSD system will be available for trading on the BSX. This means that anyone wishing to sell BCB.BH, BCBW.BH or BPH.BH on or after this date will be required to deposit those shares into the BSD before initiating a sell order.

As at the 30 April 2004, the following Issuers have not yet entered into the BSD. In weeks to come, these Issuers will be designated "Depository Eligible" at which time the appropriate announcements will be made: Argus Insurance (ARGUS.BH), Island Press Ltd. (IPRS.BH), Watlington Waterworks (WWW.BH), BCS Investments (BCS.BH), KFC Bermuda (KFCB.BH), and Masters Ltd. (MSTR.BH).