Many primary school students can look forward to new computers, software and books after principals made a successful bid for more than $100,000 from The Madeline Joell Nest Egg Fund.

Bermuda-based insurance conglomerate Ace Limited donated up to $10,000 to twelve public primary schools after an extensive application project submitted by principals was approved.

The Madeline Joell Nest Egg Fund is a school scholarship for promotion of academic excellence in core subjects of language, arts, mathematics, science and social studies.

The fund for schools was initiated by the late Madeline Joell UBP MP and Vice-President, Marketing at ACE Bermuda.

An ACE spokesperson said: "The education of Bermuda's young children was a project close to Madeline's heart. Following her untimely death, ACE decided to name the fund in her honour.'' All 18 of the Island's public primary schools are eligible but only 12 applied -- all passing the selection process.

Eight primary school principals attended a cheque presentation on the Executive floor of the ACE building on Pitt's Bay Road -- Cathy Bassett of Elliot Primary, Mary Lodge of St. George's Primary, Evereth Richardson of Somerset Primary, Wendell Smith of Paget Primary, Eddie Wright of St. David's Primary, Gladstone Thompson of Southam pton Glebe Primary, Lavern Simons of Heron Bay Primary and Stan Smith of Northlands Primary.

Other successful applicants include East End, Gilbert, Prospect, Somerset and West Pembroke Primary schools.

To apply for the one-time $10,000 donation or a five-year plan for $50,000, primary school principals talk with the ACE selection committee and submit a business plan made up of six parts: mission, status, strategy, objective, tactic and projections.

ACE Limited President and Chief Executive Officer Gary Schmalzriedt chairs the selection committee made up of representatives from Ministry of Education, Education Board and ACE employees.

He said the committee was "most impressed'' by the quality of the applications and commitment of the school principals to their students.

During last years selection process, Mr. Schmalzriedt said that, in order for Bermudians to achieve success in international business, academic excellence is essential. Helping to improve reading skills in the very young is basic, he believes, to scholastic achievement as students progress through the education system.

Principals praised Mr. Schmalzriedt for his "vision'' and "leadership''.

Eddie Wright, principal of St. David's Primary, said: "You have spearheaded this message of corporate sponsorship. Your generosity is incredible.'' Mr. Wright said he hopes other corporations well follow ACE Limited's example.

"Don't get me wrong, $20 here, $50 there helps out but this is real money -- money we can do something with.'' Computer software was on the top of most school's shopping list -- the most popular is `Reading Counts' -- a reading assistance programme that one principal said children come to school early to use.

Principal Wendell Smith of Paget primary school said: "We have one little boy who gets to school before the teachers and gets the key to the classroom to use the computer for the Reading Counts programme.'' Others spent money on buying more computers or books. Southampton Glebe bought over 1,000 books to compliment its current library and St. George's Primary purchased a special computer programme aimed at teaching very young students language skills.

Principals spoke with each other briefly and emphasised that this sort support from education and corporate sources is good for the student.

Lavern Simons of Heron Bay primary school said: "Literacy is a Ministry goal and this sort of compliments and balances it out.'' Manager Employee Communications and project coordinator Carla Bean said that all the work is in partnership with the primary schools and Ministry of Education.

"We are looking forward to the future,'' she said.