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Butterfield Bank Statement Concerning Bermuda Commercial Bank.
Hamilton, Bermuda, October 17, 2006 - In an announcement made to the Bermuda Stock Exchange (BSX), Butterfield Bank (NTB.BH) announced today that it is exploring the possible purchase of Bermuda Commercial Bank. The Bank's discussions with Bermuda Commercial Bank are at a preliminary stage and no agreement has been reached. There can be no assurance that an agreement ultimately will occur, and the Bank does not intend to comment further until our talks have concluded.