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The Bermuda Stock Exchange Index Reaches All Time Record High of 1,233.87

10 July 1997

Hamilton, Bermuda 8 July 1997. The Bermuda Stock Exchange (The BSX) is pleased to announce that The BSX Index has today closed at an all time record high of 1,233.87.

The previous high for the Index was 1221.36. The BSX Index opened the year on 2 January at 918.39 which means that the Index has risen by 315.48 points or 34.35%.

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Note to Editors - The BSX Index is a barometer of the general state of Bermuda's local economy and comprises the following 20 stocks:

Argus
Bank of Bermuda
Bank of N.T. Butterfield & Son
Bermuda Aviation Services
Bermuda Bakery
Bermuda Broadcasting Company
Bermuda Commercial Bank
Bermuda Computer Services
BELCO
BF&M Ltd
Bermuda Press Holdings
Bermuda Telephone Co
Devonshire Industries
Island Press
KFC
Long Botham Boats
Masters
SAL
Stevedoring Services
Watlington Water Works

Enquiries to Greg Wojciechowski at The BSX on Tel (1-441) 292-7212 or ceo@bsx.com