should be a great benefit to the community and prove very attractive to tourists -- is fully under way and due to open its doors in March, 1997.

Bermuda Underwater Exploration Institute vice-chairman Mr. Jack Lightbourn told Hamilton Rotarians yesterday that after a two year delay it was "gratifying'' to see construction work under way at Crow Lane.

And the project had received enough donations through the generosity of individuals, exempted companies, local banks and businesses to put it only $200,000 away from its initial fundraising mark of $10 million, continued Mr.

Lightbourn.

He said he did not wish to discuss the delays except to stress they had been costly.

He told the audience that what inspired the project was the approach of an offshore foundation which wanted to see a cultural and educational exhibit established on the Island. It offered $5 million if that figure could be matched by local donations.

The Mid Ocean News reported that this donation came from Fidelity International chairman Mr. Ned Johnson.

Mr. Lightbourn said the only condition from the donor was that the business had to meet its operating expenses which would be feasible because the Institute will charge admissions and have a restaurant, gift shop, auditorium and VIP lounge on site.

Mr. Lightbourn said the Institute did not want to house any exhibits which duplicated existing attractions but supplemented them. The main presentation would be a simulated dive to 12,000 feet below the ocean's surface.

An elevator would seat 20 people who would then take an eight-minute ride down to the sea floor while observing the sea creatures they would expect to encounter at the different levels of the ocean.

There would also be other displays throughout the Institute showing local dive sites, artifacts which have been recovered from the depths and portions of Mr.

Lightbourn's personal shell collection.

Mr. Lightbourn said the facility would take Bermuda into the 21st Century and added that other organisations were also upgrading their exhibits.

He cited the Bermuda Aquarium, Museum and Zoo's new North Rock exhibit and the Bermuda Biological Station's continual improvements as examples of attempts to increase the Island's flagging tourist industry.

Mr. Lightbourn also commended the Corporation of St. George's plans to improve the town and said although the price tag of $19 million seemed high, it was essential.

"Visitors are not interested in run- down buildings,'' he said.