levels not seen since last June.

The Exchange Index dropped 7.6 points to close at 1093.3, meaning it has dropped 39.94 points since the start of trading on Friday.

Bermuda Press, which plunged $3 on Friday, fell a further $1 yesterday to close at $5 on volume of 979 shares. The company owns The Royal Gazette Ltd.

Bank of Butterfield shares also continued to slip, losing 50 cents after falling 75 cents over Monday and Tuesday. The bank, which staged a strong rally before Christmas, closed at $32.75 on volume of 1020.

BF&M shed its gains from Tuesday, as it slipped 25 cents to close at $6.75 on volume of 8823.

Belco, which fell $1 on Tuesday, held at $19 on volume of 235. And the Bank of Bermuda was unchanged for the third straight day at $20 on volume of 1014.

Bank of Bermuda 9% notes, which are not a component of the Index, closed up 50 cents to $107.375 on volume of 50 units.