running in the "months to come'' -- after it was initially due to be launched in January, 2000.

In a press release issued yesterday to announce that the bank had received its 60/40 exemption from Bermuda's ownership rules, the bank said that a few weeks ago the e-banking platform went live for selected customers as part of a test.

If this test proves successful, the bank said that it will then go ahead with the system.

In a statement the bank said: "A few weeks ago BCB's e-banking platform went live to select customers over the months to come following satisfactory performance testing.'' BCB has repeatedly set launch dates for the service and failed to meet them.

The bank announced in December, 1999, that the e-banking site would be up and running on January 1, 2000, in an elaborate presentation to the Press.

But by mid-January it said it had delayed the implementation to deal with "security issues and integrity both for customers and the bank''.

Downplaying the problem, BCB's manager of information technology, Garry Barret, said in January, 2000: "There is always an element of the unknown that could cause a delay but the problem wasn't unusual.'' The problem still has not been revealed. During the long silence from the bank reporters were told that the bank would contact the media as and when it had any news.

At one point the then-director, Barry Munholland, said a new software package had to be approved.

"Right now we are just finalising the software package,'' he said in May, 2000. "Then beta testing should start in the next few weeks.'' When asked for a possible date he said: "I'm very hopeful it would be before the end of the summer.'' The on-line Bermuda Commercial Bank services are set to include account transfers, balances and investment information.

Customers have been told that they will be able to view their account balances and transactions in any currency through a special currency converter and that on-line trading will be available.

The e-banking is to operate as a joint venture between Bermuda Commercial Bank and its major shareholder First Curacao International Bank.