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Bank of Bermuda Appoints New Executive Officer

Hamilton, Bermuda - 2 October, 2000 - Bank of Bermuda today announces the appointment of Mr. Richard L. Denton to the position of Senior Vice President, Private Clients, Europe effective 30th September, 2000.

As a member of the Bank's Executive Committee, Mr. Denton will assume full responsibility for all the Bank's Private Client business in Europe. Mr. Denton joined the Bank approximately eighteen months ago and during that time has brought considerable strength and experience to the Bank's Management team.