Island's asbestos problem.

And Michael Stowe of International Strategic Management said he could set up a deal to have the Island's asbestos buried in a high-tech landfill site in Mississippi -- without the risk of future lawsuits for illness caused by an escape of the deadly dust.

Mr. Stowe said: "We are working with one of the largest waste management companies in the world.

"It can put the asbestos in its landfill -- properly handled and containing only asbestos, Government will be absolved of liability. We have obtained an indemnity clause which would absolve them of any liability.'' Government -- although a final decision is yet to be made -- favours dumping containers of asbestos at sea because of fears of massive insurance policies and long-term liability if Island asbestos ever escaped from a dump site.

It is the second offer in two days which would avoid the controversy of dumping at sea -- a method international environmental watchdogs Greenpeace has already pledged to disrupt.

But Environment Minister Pam Gordon said Bermudian businessman Michael Marshall's plan to get rid of the problem at a US landfill site did not include an indemnity.

Mr. Stowe, however, said: "We are in a position where we can absolve the Bermuda Government of all liability in respect of putting the asbestos in a landfill site.'' And he said the only thing holding his partnership back was Government's failure to issue a tender for the contract to get rid of the asbestos overseas.

He admitted his firm -- which represents Bermudian businesses abroad and foreign firms seeking a presence on the Island -- had no experience in waste disposal.

But he said his firm would work together with the waste disposal firm -- which he declined to name at this stage, but which he said operated worldwide from a US base -- and with a firm of environmental technicians who specialise in asbestos and other hazardous waste.

He added: "The three parties would be able to take care of this problem -- we are confident we can handle it.'' Mr. Stowe added that the hundreds of containers of asbestos currently awaiting a dump site was a fraction of the total which Bermuda could yield in the future.

But he said his solution offered not only a short-term solution, but a long-term one covering the next five to ten years.

He declined to discuss exact figures -- but said his solution would cost less than $5 million -- a figure considerably below the cost of shipping the waste to the UK.'' Mr. Stowe added that the asbestos could be shipped direct to Mississippi safely.

But he added there were technical stipulations, involving certification that only asbestos was contained in shipments, packaging and delivery to the site, which had to be met to guarantee immunity for Government -- but that these could be met.

He said: "Moving asbestos would be the same as moving any other kind of cargo. If properly packaged there would be no risk factor.'' And he added: "This matter needs to be addressed and a long-term comprehensive management solution needs to be found.

"Government has not only not decided what to do, whether the asbestos is going to the UK or landfill elsewhere or the sea, but they haven't made a request for submissions of tenders.

"Our position is that, in as much as we can handle it and absolve them of responsibility, we can only move to address it more directly when a request for tenders is made.'' Mr. Stowe said, however, his group would not be interested in tendering for any sea-dumping of the waste.

He added: "Even if, for scientific purposes, they could prove it wasn't environmentally dangerous, it would create a precedent and upset environmental sensitivities -- it's not worth the effort.'' Ms Gordon could not be contacted for comment last night.