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Bermuda Commercial Bank Clarifies Executive Changes

Hamilton, Bermuda: 17 October 2000 - Bermuda Commercial Bank has advised the Bermuda Stock Exchange (BSX) that following the resignation of Acting Managing Director, Mr. Barry Munholland, the business of the Bank continues to be managed under the direction of the Chairman, Chief Executive Officer & President, John Duess and the Board of Directors, as is consistent with past practices.