insurance companies' plans to redevelop the Bermudian Hotel site.

The decision yesterday by the Opposition virtually assures passage of a Private Members Bill which allows exempted companies ACE Ltd. and Exel Ltd. to build office complexes on the derelict hotel site.

"Bermuda as a leading tourist destination can ill afford to have this blight on the site of one of our former top city hotel properties,'' the party said in a statement.

But Shadow Minister of Finance and PLP Deputy Leader Mr. Eugene Cox last night remained tightlipped over how deep support ran in the party and whether a Whip would be applied when the Bermudiana Site Rehabilitation Bill came to a vote.

The party would be making further comment next week, he told The Royal Gazette , refusing to verify reports a three-line Whip was going to be applied. The Private Members Bill was brought to the House of Assembly last November by the PLP's Reginald Burrows.

Shadow Home Affairs Minister Alex Scott said he was personally behind the ACE/Exel bid and believed a majority of the party shared his view: "We're looking at a project that's been going on now, how long? And we've had several rescue attempts that have failed.

"There comes a time in our economic life when exceptions have to be made, and this is one of them.'' And seconding the PLP press release, Mr. Scott noted ACE and Exel have been exemplary corporate citizens who had proved their commitment to Bermuda.

"Look, we've got some real players on board who are willing to invest real money on the Island,'' he said.

Mr. Scott also predicted a "full-blooded'' discussion of the 60:40 rule was yet to come, but was confident the party's position would carry the day.

"The 60:40 requirement is no panacea of protection,'' he said. "Exceptions have to be made and have been made before.'' And he also took a parting shot at the United Bermuda Party, which he said appeared to be "caught-up in self-interest'' over the issue.

Reports of dissension in UBP ranks have long been circulating, although it is thought that a majority support the bill.

Bermuda Financial Centre Ltd., former owners of the site, have been lobbying MPs to vote against the bill.

The United Bermuda Party caucus is due to continue a meeting on the issue on Tuesday.

"The irony here is the PLP may prove to be a better partner to big business,'' said Mr. Scott.