Bermuda's students are about to become models for the world in learning how to use computers and technology.

Bermuda-based insurer Exel Ltd. yesterday announced it had signed a multi-million dollar agreement with Government to fund the design and implemention of a new curriculum for information technology studies in the public schools.

The three-year programme, which will be started by California-based Stanford University, could eventually be used as a model for other education systems worldwide. Massachusetts Institute of Technology (MIT) and New York University will also be involved in the future.

At a press conference yesterday Education Minister Tim Smith said the programme will help prepare students for jobs which increasingly depend on computer skills and technological knowledge.

"I believe that this unprecedented collaboration between Government, educators, the private sector and community leaders is itself a model for the way education will be reinvented globally,'' he said. "Bermuda's school system is ideally suited to serve as a laboratory for the development of new learning methods which could become the model for other school systems around the world.'' Exel president and chief executive officer Brian O'Hara noted the global shortage of information technology professionals and said the company had been looking for an opportunity to make a long term contribution to Bermuda.

"Human capital is the scarcest resource in Bermuda and it has become increasingly expensive to bring in qualified people from overseas to do jobs that Bermudians, with the proper education and training, could do,'' Mr.

O'Hara said. "This education initiative will enable an even greater number of today's students to become the future employees of not only Exel, but the entire business community.'' He said the full amount of the funding had not been determined yet, but that Exel was committed to providing money for the "multi-million'' dollar programme for the three years.

Government Whip Quinton Edness and Exel chief information officer Ellen Lim will lead the project steering committee. Stanford, a leader in computer science research, will be sending graduate students to Bermuda to do research and draft a basic curriculum.

The curriculum will be revised and prepared for teacher training in selected schools by the middle of 1999. Implementation of the curriculum will begin in September next year. Full implementation of the programme is expected in September 2001 once revision is completed.

Ms Lim said it's planned that MIT will develop the basic structure of the curriculum while New York University will train teachers. The steering committee will be working to get technology companies to contribute hardware and software to the test programme. The universities plan on using Bermuda as a means to design a curriculum which can then be used by other countries.

The steering committee will also be approaching other international companies to continue funding for the programme later on.

Mr. O'Hara said Exel jumped on the idea of funding the programme when Mr.

Edness approached the company to try to get some computers for Spice Valley School. Mr. Edness is a trustee of the school.

Exel is a leading provider of insurance and reinsurance and financial products coverage. As of August 31, the company had assets of $9.9 billion and shareholders equity of $4.5 billion. The company has a market capitalisation of about $7.1 billion.