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Bank of Bermuda Appoints New Senior Manager

Hamilton, Bermuda - 9 June, 2000 - Bank of Bermuda today announces the appointment of Janice Taylor to Senior Vice President, Balance Sheet and Risk Management, effective 29th May, 2000. Ms. Taylor will also join the Executive Committee of the Bank.

Ms. Taylor joined the Bank's Finance division in 1996 responsible for asset liability management globally. This included balance sheet management, interest rate risk management and decision support activities. She has over 18 years experience in asset liability management, having worked for Wells Fargo, Security Pacific Corporation and First City Bancorporation of Texas before joining the Bank. In her new role, Ms. Taylor will oversee the Bank's global risk management function and management of the group balance sheet. She will report to the Chief Risk Management Officer, Peter McClean.

Henry Smith, President and CEO, Bank of Bermuda, says: "The expansion of Jan's role reflects the superior contribution she has made to the Bank. Her appointment underscores the critical importance of the global risk management and group balance sheet functions in today's competitive environment. I am very pleased to be able to announce this promotion today, and I am pleased to welcome Jan as a member of our Executive Committee."

Ms. Taylor obtained her Master of Business Administration degree from The University of Texas at Austin in 1982, and a Bachelor of Business Administration from Baylor University in 1980.

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Media Contact: Peter Smith

Bank of Bermuda

Telephone: 299 6006