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Bermuda National Limited Completes Restructuring

Hamilton, Bermuda: 01 October 2012 - Bermuda National Limited (“BNL”) is pleased to announce that the restructuring of Bermuda Commercial Bank Limited (“BCB”) was completed earlier today.

BCB’s Shares were cancelled for trading on the Bermuda Stock Exchange (“BSX”) and the BNL Shares were admitted to and commenced dealings on the BSX. The BNL Shares trade on the BSX under the ticker code BNL.BH.

Defined terms in this announcement have the same meaning as in BCB’s Circular to Shareholders dated 31 August 2012.

‐ENDSMedia

Contacts:

Alasdair Younie Carrie Thatcher

Director Marketing and Communications Manager

Bermuda National Limited Bermuda Commercial Bank

Tel: 441‐299‐2897 Tel: 441‐299‐2884

Email: ay@icm.bm Email: cthatcher@bcb.bm

Bermuda National Limited is a Bermuda exempted financial services investment holding company whose major asset is its 100% owned subsidiary, Bermuda Commercial Bank Limited, one of Bermuda’s four licensed banks which is focused purely on corporate and private wealth. BNL’s shares are publicly traded and listed on the Bermuda Stock Exchange www.bsx.com

(Ticker: BNL.BH). BNL’s share price is available on the BSX and on Bloomberg and is published daily in the Royal Gazette.