July 31, an increase of eight percent over the same period last year.

Net sales to July 31 was $5.473 million compared to $5.349 million for the same period last year, an increase of two percent. Expenses were $2.225 million and increase of four percent.

BRINING RESIGNS, JUUL PROMOTES BUC APP Brining resigns, Juul promotes Dave Brining, a founding partner of Bermuda-based Scandinavian Re 11 years ago, has resigned from his position as executive vice president.

Company president and chief executive officer Jens Juul made the announcement in a brief press release late Friday and expressed his regrets.

Mr. Brining, 43, is apparently pursuing another opportunity here. A Canadian, he has been in Bermuda for about 17 years.

Mr. Juul also announced a number of promotions at Scandinavian Re. Nigel Godfrey was promoted to senior vice president and chief financial officer.

Bart Hedges, Ed Jordan, Mark Kaplen and Henry Withinshaw were made senior vice presidents. George Dragonetti was promoted to vice president and Stephen Young was promoted to assistant vice president.

BUTTERFIELD GETS `CHEQUEWISE' BUC Butterfield gets `Chequewise' The Bank of N.T. Butterfield is offering customers a choice of cheque writing plans geared to different types of users. Accounts under the Chequewise plan differ from each other in average minimum balance reqirements, free cheque allowances and fees.

The bank is reducing its cheque fee from 50 cents to 45 cents for all cheques written on regular, volume and power accounts. Customers can switch between the different fee structures when they want.

BROCKBANK IN AVIATION DEAL BUC Brockbank in aviation deal XL Capital Ltd. subsidiary Brockbank Insurance Services, Inc. has entered an agreement to produce general aviation insurance business.

The agreement was made with underwriting management company W. Brown & Associates and will become effective January 1, 2000.