as the Bermuda Stock Exchange Index gained 1.65 points or .17 percent to close at 996.53.

Bank of Bermuda gained 50 to close at $18 on volume of 1,000 while Bank of Butterfield gained 37.5 cents to close at $10.75 on volume of 1,000.

Bermuda Commercial Bank closed down $2 at $8 on volume 1,000.

The Bermuda Commercial Bank shares traded down as the holder sold the shares but not the rights. The bank recently announced a rights offering which includes one unit. One unit includes two shares and one warrant.

Bermuda Aviation Services closed down 50 cents at $2.50 on volume of 2,950.

Bank of Bermuda 9% US$ nts.'01 closed down 12.5 cents at 102.125 on volume of 79,000 units while 7,000 units of Belco 7% 1st mort. nts. '98 traded unchanged at 101.

Share volume was 5,950 with a value of $44,413.

Bond volume was 86,000 with a value of $87,749.