that will bring more security to the bank's communications links to their various overseas offices.

C&W beat out competition from some of the world's foremost telecommunications carriers to become the bank's global carrier. They now have the responsibility for the management of the international portion of the bank's communications network.

The latest part of a deal was formally signed at the bank's headquarters in Hamilton yesterday, although Cable & Wireless began building a more than $4-million custom designed system for the bank , since last December. It will be completed by the end of the year.

The bank gets access to a reliable, high quality and cost-effective global voice and data communications system that replaces its leased lines with a more comprehensive package.

The three-year contract is valued at about $2 million a year and C&W will provide its global managed private line (GMPL) service for a number of the bank's worldwide communications links, as well as facilities management in regional locations.

To provide these services, C&W had to create a global digital highway network, a platform on which the firm will provide the globally managed services vital to the bank's operation in Bermuda, New York, London, Hong Kong, Guernsey, Luxembourg, the Isle of Man, Singapore and the Cayman Islands.

Mr. Geoff Wiggin, C&W regional director, said: "The bank will gain a more resilient network, especially in terms of its ability to self heal. It allows for the managing of the lease lines effectively from both ends.

"We are now able to ensure that restoration can take place in seconds, as opposed to hours or even days on a traditional lease line where you only control one end.

"It is a private bank network, run with sufficiently enhanced infrastructure.

It makes for a more secure product.'' Mr. Peter Le Noury, senior vice president, systems and operations at the bank, said: "If we have an issue in Hong Kong and we wanted to see it, we could look into our network and see what's happening in our Hong Kong office from here.

"That's what this new technology will bring. Today, we can't do that.

Equipment in Hong Kong has to be looked at in Hong Kong. But eventually, we could run the world from here, seeing what's happening to every one of our lines, every one of our pieces of equipment on those lines, even an actual PC and a printer from here.'' Bank telecommunications manager Mr. Roland Lines said, "Cable & Wireless are taking responsibility for provisioning all of our global network circuits and services.

"And when they don't have a direct presence, as in being an international carrier for a country, they will negotiate on our behalf, and they have already as part of the contract, to get us the best prices, by using their leverage, their presence in the industry.

"They are guaranteeing us end to end service. They are contracting to, and taking the responsibility to, install local circuits as well.'' DONE DEAL -- Bank of Bermuda senior vice president, systems and operations Mr.

Peter Le Noury, shakes hands with Cable & Wireless regional director Mr. Geoff Wiggin.