purchase Logic Communications Ltd. from Millennium International Ltd.

Both local companies are listed on the Bermuda Stock Exchange. BTC provides local telephone service on the Island. Logic provides data communications, computer consulting, and Internet services.

BTC plans to amalgamate its newly created subsidiary Quark Ltd. with Logic to complete the technical aspects of the deal, once Government approval has been granted.

Logic's management and 45 staff will stay on as part of the deal. Logic president Peter Durhager will keep his position, as will general manager Stephen Pozzobon. Logic will remain at its offices on Par-La-Ville Road.

Mr. Durhager will also keep his position as president of Millennium, which has now sold its major asset. Millennium chairman William Midon was not available for comment on what the company plans to do with the cash it received for Logic.

Mr. Pozzobon said the deal was a strategic move in the telecommunications market for both companies. Logic will be able to expand the services it currently provides to customers and develop new areas of growth through BTC's infrastructure, while BTC is acquiring Logic's computer and consulting experience.