across the European Union.

The European Economic and Monetary Union (EMU) comes into effect early in 1999, and LOM is positioning itself for the expected dramatic expansion of investment opportunities.

The company marked the opening of its second overseas office, Lines Overseas Management (Guernsey) Ltd. with a Channel Islands reception that hosted various dignitaries of the jurisdiction.

LOM, a comprehensive financial services company headquartered here under president Brian Lines, also has a subsidiary in Cayman Islands. LOM chairman Donald Lines concedes a fondness for the Channel Islands offshore centre, but said there were a number of strategic reasons for the new Guernsey operation.

He said, "We believe this is the right place to be and the right time to make this move.'' Mr. Lines has conducted business in the Channel Islands for many years, and is comfortable with its well-developed regulatory environment. He said yesterday he welcomes the arrival of the Channel Islands Stock Exchange, which he has long encouraged.

Mr. Lines led the Bermuda contingent to the reception and was joined by other top executives of the Bermuda-based LOM office, including managing director Scott Lines and chief financial officer Malcolm Moseley.

Lines Overseas Management (Cayman) Ltd. director and general manager Craig Lines, and Kevin Gunther representing St. George's Trust of Bermuda, were also present. Brian, Scott and Craig Lines are sons of the chairman.

The general manager and director of the Guernsey office is Martin Perry, a Canadian who previously worked for LOM in Bermuda as vice president of investments.

Mr. Perry commented: "The Guernsey office has actually been up and running for the past six months and we are pleased to report that business growth has met our expectations.'' He said the Guernsey office meant that "we can present our clients with an added advantage as we monitor world markets, not just European, and therefore can offer global access.'' Mr. Perry said there is currently five staff in the Guernsey office at Wolverton Place on Market Street, a staffing level which may grow over the next 18 months, as business grows.