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Bermuda Home Directors Resign

24 24 1999

Hamilton, Bermuda, 24 March, 1999 - Bermuda Home Limited today advised the Bermuda Stock Exchange (BSX) that following the conclusion of a Finance Committee Meeting held March 23rd, Donald P. Lines and Gary A. Madeiros resigned from the Board of Directors of Bermuda Home Limited, with immediate effect.

It was noted that the resignations were made in "€˜in light of The Bank of Bermuda's offer to buy Bermuda Home" and the fact that "it is anticipated that the Bank will desire to recommend changes to the board Of Directors".

The statement went on to state, "It is presumed that the vacancies will be filled at the next regularly scheduled Board of Director's meeting."