Bank of Bermuda Added to Nasdaq Financial-100 Index®

Hamilton, Bermuda: 28 October 2002 - Bank of Bermuda (Nasdaq:BBDA; BSX:BOB) today announced that it has been added to the Nasdaq Financial-100 Index® (FIN-100). The Index includes 100 of the largest domestic and international financial companies listed on The Nasdaq Stock Market based on market capitalisation. Bank of Bermuda will be part of the Index effective at the beginning of trading on 4 November 2002.

Henry B. Smith, Chief Executive Officer, commented: "Bank of Bermuda's inclusion in this index recognises our standing as a leading global financial services institution. A central goal in listing on Nasdaq was to achieve a heightened profile with the international investment community. Our inclusion in this Index is a significant step forward, immediately providing us with greater visibility with numerous index funds and money managers that benchmark against the Index. This is an exciting development for the Bank of Bermuda that demonstrates our success at moving our name firmly onto the global stage."

To be eligible for inclusion in the FIN-100 Index, a company generally must meet certain criteria. As at 30 September 2002, 452 companies were eligible to be added to the Nasdaq Financial-100, Bank of Bermuda was at the top of the list. A total of 632 financial institutions are listed on Nasdaq.

- ends -

Notes to Editors: