magazine aimed at developers.

The Island's old military and naval installations feature in a five-page cover story on the attractions of old bases in the US and elswhere as the American military machine scales down post-Cold War.

The article -- written by ex-Bermuda Land Development Company executive Jeffrey Simon, who still acts as a consultant to the BLDC -- praises the Island's climate and stability.

Mr. Simon describes the old US Navy Annex at the West End of the Island, now known as Morgan's Point and earmarked for a massive golf, leisure and housing development, as "260 acres of property in a large peninsula with rolling hills and spectacular views of the Great Sound.'' He pointed out that US developers are often put off by having to deal with foreign governments and alien regulations. And he said the 60/40 rule on foreign ownership could present problems with capital investment from abroad.

Mr. Simon added that the planning process in Bermuda has fewer "matters of right'' in development than the US and more discretion.

And he said: "While zoning for the Island generally is specific about what is prohibited, it is less specific about what is allowed.

"Because Bermuda is greatly concerned with its image as a tourist destination, controls understandably dictate that new construction conform to the Bermuda image as defined in the island-wide development plan.'' Mr. Simon added: "Even in a sophisticated, well-developed country like Bermuda, it is essential to develop realistic expectations based on knowledge of national attitudes towards development, the history of the country's regulatory process and the issues that are important to its government and people.'' Urban Land is the magazine of the Urban Land Institute, which gathers its members from the ranks of top-flight developers.

A spokesman for the BLDC said yesterday: "It's influential because it's directed specifically at developers in the US and it's good publicity for Bermuda.''