agreement with COMSAT International to increase the company's undersea cable capacity between Argentina, Brazil and America.

COMSAT is a business unit of Lockeed Martin Global communications (LMGT) that provides network services to corporate customers.

Jim Welch, president and general manager of LMGT Network Services, said the agreement would allow the company to supplement its satellite-based operations with terrestrial facilities for customers.

The company plans to use the capacity to offer corporate customers in North and South America transport and networking services between hubs and both continents at what it said would be dramatically reduced costs.

BERMUDA TO HOST MAJOR INTERNET CONFERENCE CON Bermuda to host major Internet conference Bermuda has won out as the site to hold a major conference on how the Internet is transforming the mutual fund industry.

The Strategic Research Institute will present CyberFunds 2000 in Bermuda this October. Many of the major players in the financial world will attend and present at the conference to be held at the Fairmont Southampton Princess October 17 to 20.

Fidelity Investments, Merrill Lynch, Morgan Stanley, AIM distributors, Bramwell Capital Management, New York Life asset management and State Street Research & Management Co. are among the companies who will present.

CyberFunds 2000 will cover a variety of topics including: Retaining clients in cyberspace, Valuing e-commerce strategies, defining your brand for the Internet era, the Internet and the decline of Mutual Funds and Evolving CRM for Mutual Fund Investing.

Companies interested in registering for the conference should contact Donna Erskine at derskine ysrinstitute.com.

SEC APPROVES LASALLE RE-TRENWICK STATEMENT STK SEC approves LaSalle Re-Trenwick statement The American Securities and Exchange Commission has approved the registration statement submitted by Bermuda-based LaSalle Re Holdings and Trenwick, bringing the companies' proposed merger one step closer to closing.

The S-4 registration statement registers for public distribution the securities LaSalle and Trenwick shareholders will receive upon approval of the merger, which will create a Bermuda holding company, Trenwick Group Ltd.

Both companies have scheduled shareholder meetings to approve the transaction on September 25.