BSX Approves Listing of University Holding Ltd.

Hamilton, BERMUDA (April 15, 1998) -- The Listing Committee of The Bermuda Stock Exchange (The BSX) today announced the approval of the listing of up to 1,200,000 shares of University Holding Ltd. on the Mezzanine Market of the Exchange, subject to closing of its US$12 million Initial Public Offering.

University Holding Ltd. was incorporated in Bermuda on January 26, 1998. The company was formed as a holding company in order to acquire the Greenwich School of Management Ltd. and finance the commercialisation and implementation of the College's internet based learning program. Since its foundation in 1973 and subsequent incorporation, the College has become one of London's foremost independent colleges for business and managerial studies specializing in degree and non-degree programmes leading to academic qualifications at the professional, undergraduate and post-graduate levels.

The issue is being introduced for listing on to the Mezzanine Market of the Exchange which is targeted at qualified investors (individuals or institutions) with a minimum investment of $100,000.

William Hunt, Chairman of University Holding Ltd. commented, "We are enthusiastic about the prospects for University Holding and the continued growth of the Greenwich School of Management. Listing of the company on The BSX will enable us to rapidly pursue our internet-based learning programmes, building global access to the School's management courses upon the foundation established over the previous two decades of taught programmes in Greenwich."

"We are delighted that University Holding Ltd. chose to list its shares on The BSX. It is illustrative of the type of company for which our new Mezzanine Market product was developed," said CEO of The BSX Mr. William Woods. "The Mezzanine Market has been designed to provide new high tech and development stage companies with a listing venue that offers proper regulatory oversight and potential access to a sophisticated investor base."

The listing of University Holding Ltd. is sponsored by Voyager Financial Services Ltd. and BCB Securities Ltd. (a subsidiary of Bermuda Commercial Bank Ltd.) both of Hamilton, Bermuda.

For further information on University Holding Ltd. Shares, please contact Mr. Paul Lemmon, at Voyager Financial Services Ltd., Tel: 441 296-4545 or Fax: 441 296-4548.

For additional information on The BSX, please contactl Robin H. McPhee, Tel: 441-292-7212 or e-mail info@bsx.com, or visit The BSX Website at http//www.bsx.com.