sale of its common stock following a lull during the Christmas break.

Chips is now offering up to 340,000 common shares for sale at an initial price of $6.10 per share. The minimum parcel of shares that can be purchased has been reduced and a maximum has been set to ensure wide distribution.

The minimum investment is 100 shares at a total price of $610. The maximum investment is 2,000 shares at a total price of $12,200. The shares are being offered until 3 p.m. on February 18, 1994, or until the full subscription of offered shares is filled.

Ms Carolyn Hall of new securities and brokerage firm Gulf Stream Securities, which is acting as a sales agent for the offering, said the Christmas holiday clashed with the launch of the offering late last year.

"Adverts were missed and the offering did not receive much attention,'' said Ms Hall.

"It is important to have high distribution, and at least 100 shareholders,'' she said.

Mr. William Gresham, Chip's president and CEO, currently owns 1.155 million of the firm's 1.2 million common shares.

The company's intention is to pay a bi-annual dividend, commencing March 31, 1994, yielding a minimum return of seven percent per annum.

Shareholders who purchase stock before the deadline will be paid a dividend after holding their stock for just six weeks, and make a 3.5 percent gain, said Ms Hall.

Dividends have been paid in full in each of the last seven years as per the audited financial statements, according to the prospectus.

Mr. Gresham and the vice-president and chief operating officer Mr. James E Ferguson have both entered into a five year employment contract with the company.

Shares can only be purchased by filling in a subscription form in the prospectus, which can be obtained from new securities and brokerage firm Gulf Stream Securities, and other agencies.

Chips was set up by Mr. Edwin Faries and Mr. Gresham, who bought his partner out almost two years ago when Mr. Faries retired.

The company was incorporated in August, 1980, under the name Computer Selection, before changing its name to Chips in 1983.

The company is an authorised distributor of Sharp commercial products in Bermuda. The product line includes photocopiers, fax machines, personal computers and visual projection equipment.

The Bank Butterfield, former exclusive sales agent for the offering, have relinquished control of the proceedings.

The price of Chips' stock is currently bid $6, ask $7.