Bermuda-based management company, closes today at 3 p.m.

Arranged, managed and underwritten by the Bank of Bermuda Ltd.'s investment division, the underwriting is effectively done by the bank's subsidiary, Bermuda International Securities Ltd.

Mr. Robert Jones, assistant manager of the bank's investment division, said yesterday, "the bank, along with its sales agents, is continuing to receive applications from the public in respect to the Hemisphere offering, which closes Friday, November 25.

"Public announcement confirming the level of applications received will be made as soon as possible, following the closing.'' The offering lists GulfStream Securities Ltd. as firm commitment sales agent.

Other sales agents include Bermuda Commercial Bank Ltd. and First Bermuda Securities Ltd.

The offering included 846,000 convertible redeemable voting 9.75 percent preferred shares of $0.10 par value at a price of $5.00 each, representing 47 percent of the 1.8 million shares of the expected to be in issue in the close of the offering.

The company is offering 70,000 new shares for subscription. Mr. Christopher Wetherhill, Ms Christine Wetherhill, together with Joseph and Elaine Kelly and Margaret Every, as the existing shareholders, are offering for sale 570,000 shares, 130,000 shares and 76,000 shares, respectively.

The offer opened October 31.