Status: Incorporated Staff: Three employees Mr. Faries is the co-founder of computer and office supplier Chips Ltd. and sold his holding in 1992. Mr. Hamilton is the former owner of local company Laser Recharge Technology, and current owner of Infotel, a company that provides information about Bermuda by phone to tourist and locals.

"IBL intends to discount rates to its customers as a result of its streamlined operating methods and lower operating costs,'' according to the application. "IBL will capitalise on its small structure to create cost savings.'' The company has three other employees and is based at Bermudiana Arcade, Hamilton.

It plans to start its operations by offering telephone services in Hamilton, and will lease lines from Cable & Wireless for its use.