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Bermuda Commercial Bank Announces Roberts' Resignation

14 14 1999

Hamilton, Bermuda - 13 October 1999: Bermuda Commercial Bank ("BCB") announced today that Mr. Peter Roberts, who has been Managing Director of BCB for three years, will be returning to the U.K. at the end of 1999. Mr. John Deuss, in thanking Mr. Roberts for his contribution, made specific reference to a number of new systems which have been put into place and which have positioned BCB well to take advantage of the challenges and opportunities that are opening up for financial services providers as a result of Information Technology and Communications advancements.

Peter Roberts expressed gratitude to the BCB Board and Staff for their support during his service to BCB. "This has been an exciting, professionally rewarding, and extremely happy assignment for me," said Mr. Roberts. "On a personal note, my family and myself have loved Bermuda, we look forward to keeping in touch with all our friends here; but Bermuda Commercial Bank will be a hard act to follow."

Mr. Barry Munholland who joined BCB to head up Corporate Treasury last year, will act as Managing Director after Mr. Peter Roberts departure.