the Bermuda Exchange yesterday, with a 50 cent leap to close at $22.25, with a volume of 7,248.

The shares have now risen by 120 percent since the beginning of the year, when they were worth just $10.125.

It was generally an excellent day for firms listed on the Exchange, with shares in five companies increasing in value. The Exchange Index climbed 10.58 to close at 846.60. The total number of shares and bonds traded came to $339,851.

The one notable exception, however, was the Bank of Bermuda's stock, which fell by 75 cents to $35, with a volume of 2,093.

Problems at Island Press, whose managing director Mr. Horst Augostinovic recently announced he was resigning without giving a reason, were not reflected in the market.

The company's shares jumped by 50 cents to $5, with a volume of 1,400, but this value is still well short of the 1992 high of $7.

Bermuda Telephone Company stock also increased by 50 cents, to $28.50, with a volume of 447, while shares in the Island's other utilities company, Bermuda Electric Light Company, had a bigger volume, at 1,964, but did not change in value.

BF&M nine percent preference shares went up by 50 cents to $12, with a volume of 1,271, while BF&M common stock jumped by 25 cents to $7.50, with a volume of 2,390.

There was light trading in the stock of Bermuda Commercial Bank and Argus Insurance, with no fluctuation in their last traded prices.