The price of Bermuda-registered Sea Containers shares yesterday fell after a high-speed passenger train, owned by one of its wholly-owned subsidiaries, derailed killing four people in England.

The container, ferry, train and luxury hotel company which has its headquarters in Hamilton began the day's trading at $213 on the New York Stock Exchange.

But as news of the crash emerged, a frenzy of selling saw stock plunge initially to $201 , and then recover slightly.

By mid-day it had recovered to $21 and closed at $20 1 5/16, down 2.05 percent or 7/16.

Bermuda-based Orient Express Hotels, which was floated by Sea Containers also saw stock plummet when the news broke -- going from $17.25 to $171 .

Sea Containers is the owner of GNER, which runs part of the British East Coast line from London to Edinburgh.

Yesterday morning, one of its passenger trains derailed on the London-Edinburgh main line just north of London.

About 30 people also were injured in the derailment, which caused at least three carriages to overturn. At least one of those injured was believed to be in serious condition. Police said the GNER high-speed train derailed at 12:24 p.m. (4.23pm Bermuda time) and left the track near Hatfield, 18 miles north of London.

The train was travelling at 115 mph when it left the track, officials said.

GNER trains on the line reach speeds of 120 mph.

The move could leave Sea Containers liable for damage actions if it is proved their company was in any way responsible for the crash.

At the moment it is not known what happened, but the buffet car, where food is prepared, was one of the carriages believed to be on its side.

GNER is one of the private companies that operates on Britain's rail network, after British Rail was privatised.

Sea Containers saw its share price fall at the end of 1999 from a 52-week high of $32 3/16. It dropped to $20 7/16 on 23 March, but climbed after the company floated its luxury hotel and train service Orient Express in August to $28.

The company has a market capitalisation of $388.8 million and for the six months ended 6/30/00 revenues rose 3 percent to $629.1 million.

GNER holds the Great North Eastern Railway franchise, and in August announced it was going to bid for the UK's largest rail network, South West Trains.

BUSINESS BUC