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Bermuda Commercial Bank Declares Share Transfer

Hamilton, Bermuda: 15 June, 2001- Bermuda Commercial Bank (BCB), in accordance with section 6.14 of the BSX Listing Regulations, has advised the Bermuda Stock Exchange (BSX) that earlier today, Delta Holdings Ltd. sold and transferred 613,213 shares of BCB common stock and 150,772 BCB warrants to First Curacao International Bank N.V.

Prior to the transfer Delta Holdings Ltd. owned 14.34% of BCB's common shares and 9.30% of BCB's warrants. Subsequent to the transfer First Curacao International Bank N.V. directly owns 48.08% of BCB's common shares and 49.66% of BBC's warrants.

As disclosed in Bermuda Commercial Bank's 2000 Annual Report, Delta Holdings Ltd. and First Curacao International Bank N.V. are considered related parties.