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BSX Announces Appointment of Listing Manager

Hamilton, BERMUDA (March 26, 1998) -- The Bermuda Stock Exchange ("The BSX") today announced the appointment of Mr. James McKirdy as Listing Manager.

Mr. McKirdy has over 10 years experience in investments and mutual fund administration. He joins The BSX from The Bank of Butterfield, where he served as Assistant Manager, Butterfield Asset Management since 1994. Prior to that he was Mutual Fund Project Manager/Trader with the Bank of Bermuda.

As Listing Manager, Mr. McKirdy will be responsible for vetting all applications for the listing of new issues on The BSX, as well as on-going compliance by listed issuers and the implementation of The BSX Listing Regulations.

This new appointment brings the total number of full time staff at The BSX to eleven, reflecting the significant growth of The BSX in recent months.

For further information, please contact Robin H. McPhee at 441-292-7212 or at info@bsx.com.