Group Title: Tribune. (Nassau, Bahamas).
Title: The Tribune
ALL ISSUES CITATION THUMBNAILS ZOOMABLE PAGE IMAGE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00084249/00109
 Material Information
Title: The Tribune
Uniform Title: Tribune (Nassau, Bahamas)
Alternate Title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Place of Publication: Nassau Bahamas
Publication Date: May 13, 2005
Copyright Date: 2005
Frequency: daily, except sunday
daily
normalized irregular
 Subjects
Genre: newspaper   ( marcgt )
Spatial Coverage: Bahamas
 Notes
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
 Record Information
Bibliographic ID: UF00084249
Volume ID: VID00109
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850

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Wind spreads flames


from Coral Harbour Road


* By TIFFANY GRANT
Tribune Staff Reporter
A MASSIVE bush fire
ripped through the communi-
ty of Coral Harbour late yes-
terday afternoon.
When The Tribune arrived
on the scene, billows of blind-
ing smoke filled the air.
According to police, they
received reports about the
bush fire at 10.50am Wednes-
day. It is reported that the fire
started burning inland in the
general area of the well fields.
At the site, Chief Fire Offi-
cer Inspector Walter Evans
said that the fire on the Coral
Harbour road was moving in a
westerly direction. He said the
fire was also heading in the
direction of the Adelaide road
and in the general vicinity of
the Coral Harbour round-
about.
Mr Evans reported that the
wind factor has played a sig-
nificant role in the rapid
spread of the fire.
"There are some businesses,
mainly Batelco, being threat-
ened. There are also resi-
dences just east of Batelco.
We have to be concerned
about the number of homes
that are on the southern side
of Adelaide road," said Mr
Evans.
He said the fire service is
making every effort to get the
fire under control and to
extinguish it.
pBecause of zero visibility,'
police closed off Adelaide
road travelling west of Coral
Harbour road.


Judy Newton, a part-time
resident of Coral Heights
Garden apartments, said she
saw flames between her resi-,
dence and the airport on Mon-"
day night. She said that on
Wednesday afternoon, on her
way into town, she saw a fire
fighter at the site watching the
fire, but on her way home she
described it as "still burning
wild."
"At about 2pm I was sitting
out in the backyard with the
cat and it was bright and sun-
ny, and all of a sudden I saw
this big cloud of smoke com-
ing over the house. It just
blocked out the sun. Also ash-
es have been raining down,"
said Ms Newton.
She told The Tribune that
for the area, bush fires are
common. However, she said,
bush fires usually occur later
in the season when it is drier.
She said that it usually burns
itself out, but yesterday's fire
is the closest it has come to
the house, where it "jumps"
the street.
Another resident, Alex
Paul, said that the neighbour
to the west had a couple of
spot fires due to the fire jump-
ing the road.
However, they had teamed
up and monitored the premis-
es to quickly out any fire that
could start.
Mr Evans said that if nec-
essary, the police will order
an evacuation of the immedi-
ate area.
He said that so far no
homes have been destroyed
by the fire.


* By KILAH ROLLE
Tribune Staff Reporter
OVER the past four years,
Bahamian police have seized
an average of 190 guns a year,
and studies show that many
of these guns come from aver-
age law-abiding citizens who
resort to illegal possession of
guns for protection.
Acting Prime Minister and
Minister of National Securi-
ty, Cynthia Pratl, said it is vir-
tually impossible to legally
own a handgun in the
Bahamas because it has some
of the most stringent regula-
tions applying to the owner-


ship of guns and ammunition.
Yet despite this, police con-
tinue to seize these weapons,
most of which she said comes
from urban areas.
Mrs Pratt voiced these secu-
rity concerns yesterday morn-
ing at the opening of a two-
day workshop, organised by
the United Nations and the
Inter-American Drug-Abuse
Control Commission
(CICAD). The workshop is
one of several regional work-
shops being held this year to
assess the import, export and
intransit movement of small
SEE page 14


PLP chairman: the FNM

should have apologised for

Symonette 'comments'

N By CARA BRENNEN
Tribune Staff Reporter
THE FNM should have exercised common decency and apolo-
gised for Brent Symonette's "insensitive" comments regarding the
recent illness of Prime Minister Perry Christie, according to the PLP.
Party chairman Raynard Rigby said yesterday that it would
have been the "honourable" thing for the FNM to do.
At a press conference Wednesday, Mr Rigby said that Mr Symon-
ette had used the FNM's "report card" rally to make sport of Mr
Christie's illness and to suggest that Mr Symonette had a death wish
for the Prime Minister.
He demanded an apology not only. from Mr Symonette, but
from the FNM saying that by his silence, FNM leader Tommy
SEE page 14


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State-of-the-art

education centre
opened at prison
* By A FELICITY
INGRAHAM
Tribune Staff Reporter
A NEW state-of-the-art
technical-vocational correc-
tional education centre was
officially opened at Her
Majesty's Prison yesterday,
with National Security Min-
ister Cynthia Pratt describ-













* REV. JOSEPH ROLLE
sang from his heart yester-
day at the opening of the new
education centre.
(Photo: Mario Duncanson/
Tribune staff)
ing the event as one that will
result in significant improve-
ments in society.
The opening is a signifi-
cant landmark, prison
authorities said, and it was
SEE page two


Average, of 190 gum

are, seized each year


I









PAGE FRIAY, MY 13 2005THE TIBUN


New unit will



be crux of Fox



Hill system


* By A FELICITY INGRAHAM
Tribune Staff Reporter
PRISON officials plan to make a
new central intake unit the crux of Fox
Hill's transition from a penal institution
to a correctional facility.
The unit, which was re-launched by
National Security Minister Cynthia
Pratt yesterday, will allow for the prop-
er reception, orientation, diagnostic
screening, sentence planning, and clas-
sification of inmates.
A classification board headed by Mr
Don Cleare, information management
officer at the prison, has been appoint-
ed and is functioning.
Mr Cleare told The Tribune: "It is
going to change the prison completely,
and for the better.
"This is the first time in history that
we will totally evaluate every aspect
of an inmate: His psychological needs,
social needs, educational needs, and
even having a sentence plan for the
inmates."
When a prisoner first enters the com-
pound, he or she will be housed at the


new facility for the first seven to 14
days. During that time, a series of tests
will be conducted to determine the
person's emotional, mental and physi-
cal health.
The officers will also be looking at a
person's educational background,
skills, and character.
Utilising the widely-heralded deten-
tion management system out of
Spokane in Washington State, inmates
at the prison will now be divided into
nine housing classifications: super max-
imum, maximum, high medium, medi-
um, minimum, mental health supervi-
sion, juveniles, remand, and female.

Categories

Super maximum supervision will
generally apply to inmates sentenced to
20 years or longer or those who are
considered serious escape risks.
Maximum security supervision
would apply to inmates sentenced for
dangerous, violent offences such as
rape, armed robbery with violence,


* NATIONAL Security Minister Cynthia Pratt at the unit launch yesterday


drug offences or multiple recidivists.
High medium supervision would
apply to inmates who are convicted
of armed robbery, persons serving.
life sentences but who have "gradu-
ated" from super maximum securi-
ty, persons convicted of assault,
child abuse, conspiracy, extortion,
incest, arson, and auto theft.


Medium supervision applies to per-,
sons convicted of armed robbery, bur-
glary, gambling, fraud, anid others. .....
As a part of the classification regime,.
inmates will now be introduced to
colour-coded arm bands that will serve
as identification badges for institutional
purposes and in the event of an escape.
Inmates under maximum supervi-


sion will wear red armbands; medium
will wear orange, minimum, blue, juve-
niles, white and females, yellow.
In addition, consideration is being
given to changing inmate uniforms
from blue to a yellow or sentenced
inmates, orange for those on remand,
and light blue for those on work pro-
grammes.


Education centre is

opened at Fox Hill


FROM page one
coupled with 'the relaunch of
the central intake facility. (See
above).
Both moves will strategically
place the prison on the road to
becoming a correctional facility,
and according to Mrs Pratt, the
prison is now in "transition".
The education centre, she
said, will be dedicated to the
training and retraining of all who
live and work at the facility. -
The two-storey building has
already accommodated three
staff development seminars, sev-
eral academic programmes for
inmates and at present, 50 new
recruits are using the facility for
10 weeks of basic training.
Courses for inmates are now
underway in life management
skills, computer literacy, elec-
tronics, BJC mathematics and
English, BGCSE mathematics,
basic literacy, adult basic edu-
cation, straw and shell craft,
welding and entrepreneurial
skills.
A special computer-aided
programme, designed in the US
specifically for prisoners, has
also been implemented.
Inmates will now learn plumb-
ing, carpentry, welding, small
engine repair, and electronic
motor controls by way of the
computer. These cyber classes,
however, are accompanied by
physical models for the students
to work with.
During a tour of the facility
yesterday, there was a demon-
stration of how the programme
works. It is a well-displayed and
efficient progratiimeethat makes
it easy for persons to learn a


particular trade. It has been
established that this method of
instruction is particularly effec-
tive in correctional settings, as it
allows inmates to learn at their
own pace.
"It is my belief and that of
the government that there is a
direct relationship between self
concept and criminal behav-
iour," said Mrs Pratt. "People
who know who they are, belieye
inr themselves, who know.where
they are going and. how they
will get there, tend to transgress
laws at a lower ratfthan those
with a dim view of themselves
and a dimmer view of others.
"There is, therefore, a
solemn responsibility to harness
the talents and potentials of
inmates and through proper
sentence planning steer them
into productive, purposive pro-
grammes aimed at reducing
offending, and hence recidivism,
upon release."
Prison Supt Dr Elliston Rah-
ming called it a "propitious
time" at the prison.
Mrs Pratt explained that by
making these opportunities
available for prisoners, life
would be better for their fami-
lies when they are released. She
said the hundreds of men
imprisoned are heads of fami-
lies, and without the right tools
to bring about change, it will be
devastating for society.
Anita Dilette, who heads the
educational training, said the
lecturers programmes will go
forth under the theme "building
bridges". Ms Dilette recently
returned from a seminar in: Vir-
ginia, and is excited to 'apply
her skills at the centre.
Former National Security
Minister Frank Watson was pre-
sent at the ceremony, and was
thanked by Mrs Pratt for his
efforts towards creating the new
correctional facility, the fruits
of which were described a a
"red letter day" for the prison.


I I D i


PAGE 2, FRIDAY, MAY 13, 2005


THE TRIBUNE







THE TRIBUNE


FRIDAY, MAY 13, 2005, PAGE 3


LOCAL'NEWS


SAN artist's impression of the Baha Mar develoment but is it a step too far?


Government 'giving




away too much land'


* By KARIN HERIG
Tribune Staff Reporter
THE government is giving
away too much land to foreign
investors, lawyer Fayne Thomp-
son claimed yesterday.
Joining the official opposition
FNM in grading the PLP
administration an "F" for their
performance since 2002, Mr
Thompson, a member of the
Coalition for Democratic
Reform (CDR), said it seems
that the current government has
engaged "in a generalised poli-
cy of selling Bahamian land to
foreign investors on extremely
good terms."
Speaking as a guest on the
radio talk show Immediate
Response yesterday, Mr
Thompson said that in the view'


of his party, the promises made
by the PLP during their 2002
election campaign have not
been met.
CDR member Gadville
McDonald said that although
the Bahamas has been promot-
ing foreign investment for years,
the PLP had always heavily crit-
icised the former FNM govern-
ment for giving away too much
land to foreign developers.
"And now they are doing the
same thing," he said.
Mr Thompson added that the
PLP's new platform seems to
include "giving away concession
upon concession" to investors.
He pointed out that Bahami-
ans are now scrutinising the
heads of agreements for devel-
opments more closely and are
openly voicing their objections.


As examples he named Par-
menter Reality's Romora Bay
development in Harbour Island
and the Baker's Bay project in
Guana Cay.

Criticism

Both developments have
recently come under attack
from locals who feel that these
projects are unsuited to the
Family Islands and will cause
irreparable damage to the envi-
ronment.
Despite public demonstra-
tions and the filing of legal
actions against the government,
Mr Thompson said that the
question remains of "how much
of a voice the Bahamian peo-
ple really have".


"We need empowerment and
real local government to be able
to make real decisions, not a
minister in Nassau," said Mr
Thompson.
The CDR member spoke
about the Heads of Agreement
for the Baha Mar Cable Beach
redevelopment, which has not
yet been tabled in the House of
Assembly. "We decry the secre-
cy of this agreement," said Mr
Thompson.
He said that the agreement
speaks to the conveyance of
Crown Lands, and that Bahami-
an people had a right to know
the details of the contract.
"It ought to be made public;
secrecy is not the way you gov-
ern this country. Their modus
operandi seems to have become
'don't tell anybody'," he said.


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Security drive



at our ports


THE Ministry of Foreign
Affairs yesterday denied that
government made a "secret"
decision to join CSME in
July.
The assertion was made
by FNM Chairman Carl
Bethel during the party's ral-
ly on Tuesday night.
Foreign Affairs Minister
Fred Mitchell announced on
April 20 in the House of
Assembly that the cabinet
had made a decision to
advance to the next stage of
discussions on the Caribbean
Single Market and Economy.
"All government positions
to do with the implementa-
tion of the Caribbean Single
Market and Economy are in
the public domain," a For-
eign Affdirs spokesman said.
Mr Bethel also suggested
that "the PLP government
of Fred Mitchell sells out the
national sovereignty".
The release said these sug-
gestions are "offensive and
demonstrably false."
"There are no implications
whatsoever in accession to
the Caribbean Single Mar-
ket and Economy for the
sovereignty of the Bahamas.
"In any case, the position
of the FNM official opposi-
tion as communicated to the
minister is that they agree
and are at one with the gov-
ernment's position on
CSME, provided reserva-
tions are obtained for the
Bahamas not to participate
in the free movement of peo-
ple, the Caribbean Court of
Justice at the appellate level,
the single currency and mon-
etary union and the common
external tariff," the
spokesman said.
"The Bahamas has
reached the point where its
political leaders must know
when to say 'no' to poten-
tialry destructive partisan
behaviour and publicly come
together for the good of the
country" he added.


* By NATARIO McKENZIE
MORE stringent security
measures are being implement-
ed to protect ports of entry to
the Bahamas, a Port Depart-
ment official said yesterday.
According to Defence Force
Lieutenant Commander Her-
bert Bain, officers from port
facilities throughout the
Bahamas will participate in a
two-day symposium next week
to determine what additional
measures need to be taken in
order to heighten the level of
port security.
"We recognise that post-Sep-
tember 11 the world has
changed dramatically and with
this in mind we are continually
looking for ways to improve
what we have in terms of secu-
rity," said Lieutenant Bain.
The Bahamas joined the


International Ship and Port
Security code in July last year
and there have been significant
improvements in security.
The code, which was devel-
oped by the London-based
International Maritime Organ-
isation, involves three levels of
basic security measures as well
as initiatives to be taken in the
event of a terrorist attack, the
Lieutenant said.
At the symposium, Bahamian
port officials, together with
security advisors from the Unit-
ed States, will assess where the
Bahamas currently ranks in
international security standards.
"Our international obliga-
tions require that we have a
basic standard of security.
."We have that, but we also
want to go beyond that level to
ensure the safety of our ports,"
Lieutenant Bain said.


Landlord charged with

shooting his tenant


A LANDLORD appeared in.
court yesterday accused of mur-
dering his tenant.
Calvin Dean, 30, of Acklins
Street, was remanded in cus-
tody until July 5.
Dean, or Knowles Subdivi-
sion, allegedly used a shotgun to'


shoot 20-year-old Tevarus Mer-
lin Johnson in the face following
an argument on April 7.
Johnson's body was discov-
ered by police in the driver's
seat of a green Ford Escort in
the area of Baillou Hill Road
South later that day.


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email: rbadderley@cablebahamas.com)
Deadline: May 20th, 2005


All applications will be held in the strictest confidence.







PAGE 4, FRIDAY, MAY 13, 2005


THE TRIBUNE


E RI OTEEITOR


IN THE early 1950s the late Sir Randol
Fawkes, a young lawyer, was a constant visi-
tor to The Tribune. He was enthusiastic about
the creation of a West Indies Federation,
which was the newest idea being floated at
the time.
Mr Fawkes, as he then was, was anxious to
convinc 'The Tribune that the federation was
a capital idea and the Bahamas could not
afford to be left out. He wanted The Tribune
to support the idea of federation.
Of course, as anyone who knew Sir Randol
would appreciate, he was most anxious for the
Bahamas to be a member as he envisioned
for himIself an important position in the
Caribbean federal system.
The late Sir Etienne Dupuch, at the time
the editor and publisher of this newspaper,
did not catch the fever. As a matter of fact he
could see no place for the Bahamas among
such a diverse group of islands. Later he
toured tlieCaribbean to form his own opin-
ion about federation.
When he returned, he was convinced that
there was no place for the Bahamas in such a
scheme Hewas even more convinced that -
because of the diverse backgrounds and
needs of the various islands Caribbean fed-
eration would fail. And fail it did.
Federation, consisting of 10 provinces, all
British possessions with a combined popu-
lation of between six and seven million, last-
ed from January 3 1958 to May 311962.
Chaguaramas, a few miles west of Port-of-
Spain, Trinidad, was the proposed site for
the capital. But this decision was not made
without jealous bickering from the other
member colonies.
TheJ arger islands particularly Jamaica
andTrinidad-gained control of the federal
government agenda, much to the chagrin of
the smaller islands. Between them they were
reluctant to establish a customs union. Even-
tually the larger islands started to resent being
members ofa utiion that had so many mem-
bers hostile to them. They started to explore
independence for themselves.
In 1961 Jamaica held a referendum and
with a 54 per cent vote left the Federation.
Jamaicans had opted for independence. The
following year Trinidad and Tobago, the sec-
ond largest province, also left with Premier
Eric Williams quipping that "one from 10
leaves nought.": ;
Federation, because the islands had few
interests in common, had collapsed.
And now we have CSME. Foreign Affairs
Minister Fred Mitchell, like Sir Randol before
him, sees a place for the Bahamas in this eco-
nomic union. We have remained silent and


WE
,1


listened to the arguments on both sides. How-
ever, we have now come to the same con-
clusion that our father did with Federation -
there are more problems than benefits in it
for the Bahamas particularly as the
Bahamas is not a trading nation.
The Bahamas is now a member of CARI-
COM. However, Mr Mitchell predicts that
once CSME comes into effect by the end of
2005 "with all the other CARICOM countries
signing on except the Bahamas, we would
be outside the CARICOM system and would
not be beneficiaries any longer of all the
CARICOM organisations that we have ben-
efited from since we became an independent
country in 1973."
Sir William Allen, in a letter published in
yesterday's Tribune, questions the accuracy of
this statement. He cannot see why social ties
should be severed just because economic
relationships cannot be justified. "The right
thing," he said, "would be to seek to expand
our social linkages, not sever them."
In an article to be published in Tuesday's
Tribune and written by Sir Ronald Sanders, a
former Caribbean diplomat, the Bahamas is
not the only nation with reservations. Sir
Ronald reports that smaller islands fear the
impact that trade with larger islands will have
on their economies. He quotes a member of
Antigua's ruling party, who fears that "small
islands like Antigua would become the dump-
ing grounds for goods from larger territo-
ries."
An echo from the days of Federation? This
time the fears are economic. Unless these
fears are taken into consideration, CSME, as
Sir Ronald says, could be "stillborn."
In Sir Ronald's opinion CSME "is simply
not a practical idea without the free move-
ment of labour."
The free movement of labour is the very
soul of the CSME. The Bahamas wants to
sign on as long as it can be exempt from this
free movement the very essence of CSME.
Mr Mitchell agrees that if there are no
benefits to the Bahamas or if the disadvan-
tages outweigh the benefits, it makes no sense
to join CSME. However, Mr Mitchell can
see the benefits. For him the Bahamas cannot
afford to be excluded.
As the argument now stands, we see little
benefits in joining. Instead like Federation
- we believe the Bahamas should go it alone,
strengthening our social rather than our eco-
nomic ties in CARICOM..
We recommend that our readers study Sir
William's letter in Thursday's Tribune and
get a copy of Sir Ronald's article on Tuesday.
They can then make up their own minds.
I,


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SThe Tribune Limited
NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmas of No Master

LEON E. H. DUPUCH, Publisher/Editor 1903-1914

SIR ETIENNE DUPUCH, Kt., O.B. E., K.M., K.C.S.G.,
(Hon.) LL.D., D.Litt.

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.
Publisher/Editor 1972-

Published Daily Monday to Saturday

Shirley Street, P.O. Box N-3207, Nassau, Bahamas
Insurance Management Building., P.O. F-485, Freeport, Grand Bahama

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager (242) 502-2352
Circulation Department (242) 502-2387


Bahamas and CSME discussed


longer


be an issue


EDITOR, The Tribune
MY wise old grandmother,
Vera Symonette Hanna was
awarded the first Order of Mer-
it Award for Education in 1996.
Those who knew her were
certain that Mrs Hanna's no-
nonsense approach would set
straight anyone with a foolish
thought or intention. Had she
still been alive today, Mrs Han-
na would most certainly have
reasons to rid the community
of plain stupidity, as those that
should know better all too often
behave in a most immature and
illogical manner.
The latest bout of foolishness
in the Bahamas centres around
statements made about Brent
Symonette, who revealed his
intention to contest the leader-
ship of the FNM at the party's
next convention.
Should the FNM prove suc-
cessful at the next general elec-
tion, and be declared the win-
ner, then chances are that Brent
Symonette, a white Bahamian,
could become the next Prime
Minister of the Bahamas.
Regrettably, there are indi-
viduals in the Bahamas who in
this day and age are promoting
the ridiculous idea that the
Bahamas is not ready for a
'white" Prime Minister.
Man, what a heap of rubbish!
How can anyone in this sup-
posedly progressive country
have such a backward and
immature mode of thinking?
Under the Constitution of the
Bahamas, the only qualification
to run for public office is that.
you must be a citizen of the.
Bahamas. There is no advan-
tage or disadvantage of any race
or place of origin. Whether you
are a "sheep runner" from Long
Island or a "crab catcher" from
Andros or a "conchy-Joe" from
Spanish Wells, there is no hin-
drance if you desire to run for
the nation's top post.
There has been no credible
scientific evidence that has con-
firmed any genetic superiority
in a particular racial character-
istic. Adolf Hitler in Nazi Ger-
many attempted to demonstrate
this with his purified Arian
nation. However, Jessie Owens
at the 1936 Berlin Olympics
shattered any theory of a racial
superiority by winning a num-
ber of gold medals in the Track
and Field events.
Dr Martin Luther King Jr put
it most correctly when he had a
dream of"sitting at the table of
brotherly love and not judging a
man by the colour of his skin,
but by the content of his char-
acter!" Whatever act of evil or


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injustice that has occurred in
the past must be forgiven for a
nation to heal. Isn't that the
Christian way?
The Bahamas with its history
of slavery and colonialism was a
victim of racial practices. Dur-
ing the 1950s, a small group of
white businessmen known as
the Bay Street Boys were able
to control the political and eco-
nomic life of the Bahamas.
They later formed the United
Bahamian Party (UBP).
The UBP ran a Bahamas that
excluded input from the
coloured majority at a time
when many coloured Bahami-
ans were identifying with the
Civil Rights Movement in the
United States. Despite the
social circumstances in the
Bahamas at the time, too many
people try to describe the UBP
in racial terms. PLP chairman
Raynard Rigby, a man who is
always short on his facts, was a
baby in diapers when the UBP
left office.
In his press release, he
attempted to portray Brent
Symonette as the reincarnated
UBP with their racial ways. His
ignorance of the UBP is obvious
as he particularly criticised Sir
Stafford Sands. He is clearly
unaware of any contributions
that the UBP made that impact-
ed positively the development
of the Bahamas. It was the UBP
that facilitated men to vote
without property ownership. It
was the UBP that allowed
Bahamian women to vote for
the first time in 1962. And yes, it
was the UBP under Sir Roland
Symonette that participated in
the first Constitution for self-
rule in 1963, paving the way for
independence.
Undoubtedly, Sir Lynden
Pindling is remembered as the
father of the nation. However,
Sir Stafford Sands is credited
with being the father of the eco-
nomic development of the
Bahamas. He was the visionary
behind the tourism and bank-
ing industries rapid expansion
in the Bahamas.
When Fidel Castro came to
power in Cuba, it was Sir
Stafford Sands who brought
casino gambling and other busi-
nesses from Cuba such as those
involved in rum distilleries to
the Bahamas. Can you imagine
a Bahamas without the city of
Freeport? Freeport is the hand-
iwork of Sir Stafford Sands.
For those who appreciate the
Bahamian culture of Junkanoo,
it was Sir Stafford Sands who
introduced prize money for the
Bay Street parade. Successive
governments have not intro-
duced any new developments
in the Bahamian economy, but


only expanded on the econom-
ic base left by him. Chairman
Rigby is so wrong when he
attempts to taint with racism
the character of Brent Symon-
ette, who was a mere boy at that
time. Just look at Marvin Pin-
der, a former PLP cabinet min-
ister and a white Bahamian who
indicated in his school yearbook
his ambition to be a UBP Pre-
mier.
After majority rule on Janu-
ary 10 1967, it is reasonable to
expect that a government that
came to power expounding the
injustices of racism would
ensure that it would be forever
banished from the Bahamas.
Instead, the PLP government
subtly exploited racism to main-
tain the support of the majority.
The facts of history were con-
veniently distorted for political
benefit.
All of what most of the young
people know about the UBP is
a biased view that had come out
of the mouths of PLP politi-
cians. Even the most patriotic
national symbol, the flag was
abused for selfish political inter-
est by the PLP. The black tri-
angle on the flag, they claimed
represented the people of the
Bahamas. This was an outright
lie that served the purpose of
dividing the Bahamian people.
It wasn't until the thirtieth
anniversary of Independence
that the true meaning of the
black triangle was revealed by
its designer Horace Bain. It sim-
ply was a reflection of the ener-
gy of all people of the Bahamas.
Under this current PLP gov-
ernment, racism still appears to
be a matter of public policy
despite a recent conclusion by
The Nassau Institute that racism
in the Bahamas is dead. The sil-
ly and disgracefully racially
motivated attack by Cabinet
Minister Leslie Miller on Sam
Duncombe last Sunday on the
radio must be condemned by
every decent Bahamian. The
fact that no one from the PLP
has come forward to reprimand
Leslie Miller means that they
approve of this unacceptable
form of behaviour by a govern-
ment official.
Ironically, the majority of
Bahamians are ndt black, but
are of mixed descent. Even
Prime Minister Perry Christie
doesn't have to look far to dis-
cover his mixed roots. How can
anyone suggest that because I
have a few more melanocytes
in the epidermis of my skin, I
can become Prime Minister of
the Bahamas and my distant
cousin Brent Symonette can't?
If race is the only issue with
Brent Symonette, then one
thing is certain: he will be a
great Prime Minister.
Dr Leathendore Percentie
Boston
Massachusetts
May 2 2005


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Ip P/airnt ^
LI Depot Prince Charles Drive
L.ANNA"


no













*o Former foodstore workers want




same assistance as Royal Oasis staff

r v DENISE MAYCOCK M U FORMER Grand Union employ-


* By KARIN HERIG
Tribune Staff Reporters
LEGISLATION dealing
with child molesters is still in
its infancy in the Bahamas,
Mellany Zonicle, Director of
Social Services yesterday told
The Tribune.
With the topic of how to
deal with convicted child
molesters after they are
released from prison becom-
ing one of increased interest,
countries all around the world
are seeking to put new legis-
lation in place to ensure the
safety of children.
Mrs Zonicle said that the
Bahamas is now only begin-
ning to put programmes in
place to deal with convicted
child molesters.
Whereas several states in
the US are now asking for
stricter legislation, including
laws which would put first-
time child sex offenders on
the sexual offender registry
and a law allowing judges to
sentence child molestation
convicts to wear a tracking
device with global satellite
positioning, the Bahamas has
no such legislation in place.

Determine
"At the moment we have
no such laws; first we have to
determine what to do these
people after they are convict-
ed in front of the courts, what
kind of treatment pro-
grammes we can put in place
while these people are serving
their years-long sentences,"
she said.
Mrg Zonicle said that issue
of how to deal with child
molesters has to be addressed
to ensure that our communi-
ties are safe for children.
"We have to ask ourselves
if we should release those
convicted immediately after
they've finished their sen-
tence, or if we should not
place them.under some sort
of supervision first," she said.
According to the latest data
from the Ministry of Social
Services; 520 cases of'us-,
pected child abuse were
reported in the Bahamas for
2004, 72 of those were cases of
sexual abuse, 47 were cases
of incest.
"Regretfully we are aware
that more cases never get
reported. Obviously there
continues to be a need of pub-
lic education, programmes
and various intervention
strategies to address the pro-
tection of children," said Min-
ister of Social Services and
Community Development
Melanie Griffin.













FRIDAY
MAY 13


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Mr. Ballooney B.
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4:30 Cybernet
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5:00 Inside Hollywood
5:30 Cinema, Cinema, Cinem,
6:00 One Cubed
6:30 News Night 13
7:00 Bahamas Tonight
8:00 The Battle of The Brain
9:00 3'D's Funk Studio
9:30 The Lounge
10:30 News Night 13
11:00 Bahamas Tonight
11:30 Immediate Response
1:30 Community Page

SATURDAY
MAY 14
6:30 Community Page
9:00 Bahamas @ Sunrise
10:00 Treasure Attic
10:30 CMJ Club Zone
11:00 Kids On The Move
11:30 Cybernet
12noon This Generation


a


*a .


Tribune Freeport Reporter
FREEPORT Former workers of the
Grand Union foodstore who were made
redundant by foreign operators two
years ago without severance pay want
the government to extend them the same
assistance given to Royal Oasis employ-
ees.
Lawyer Carlson Shurland said that the
26 workers are in a similar position as
employees of Royal Oasis and are enti-
tled to monies from their former employ-
ers in New York.
Mr Shurland, who was retained by sev-
eral former employees two years ago,
has filed writs in the Supreme Court
against the Monarch Investment/Red-
wood company on their behalf. Judg-
ments have been handed down in favour
of two employees.
He said there is nothing else he can do
locally since the operators are no longer
within the jurisdiction of the country.
Many of the employees, said Mr Shur-
land, have been employed between 20
and 35 years at the foodstore.
In a matter of weeks, the government
is expected to make $5 million in redun-
dancy payments to 1,600 hotel workers at
Royal Oasis who were laid off without
pay following the hurricanes last Sep-
tember when the resort was forced to
close.


The government plans to go before
parliament again for the remaining $3
million in payments to workers.
Mr Shurland said the government can-
not deny those foodstore workers the
same assistance. To do so would be dis-
crimination and favouritism, he said.
"We will not sit by and tolerate it
because these people are hurting too
and many of them have been jobless and
affected by the hurricanes.
"Both were adversely affected because


foreign companies ran away out of the
jurisdiction without paying them their
legal entitlement under the employment
act," he said.
He stressed that the law is very specific
as it relates to redundancy of employees.
Mr Shurland said the workers are
seeking compensation of at least one
year's salary, vacation entitlement and
medical or insurance benefits.
Angelina Bevans, a professional cook
employed for 17 years, feels that the gov-


ees seeking the assistance of govern-
ment in redundancy payments. Seated in
front left to right are Angelina Bevans,
a cook for 17 years, and lawyer Carlson
Shurland. Standing left to right are Cecil-
ia Robertson, a 19-year employee; Fos-
ter Miller, former produce manager of
35-years; Franklyn Pinder, former gro-
cery manager of 19 years; Kermitt
Green, assistant manager of 34 years;
Eugene Darling, accounts customs bro-
ker of 24 years.
(Photo: Denise Maycock)

ernment should put in place some fixed
deposit requirements for foreign
investors opening businesses in the coun-
try.
Mr Shurland is calling on government
to put legislation in place to protect
Bahamian workers against criminal acts
by foreign investors.
"Are we going to encourage foreign
investors to come in here and ripping
our people off? Are we going to contin-
ue to encourage and endorse foreign
companies coming to this countr y, having
Bahamians work for them 30 years, and
when they can't make a profit and things
get tough, they decided they want to
pack up and go?"
Mr Shurland noted that workers of
Gulf Union Bank are in the same
predicament.


Bahamas' best fall short of top Caribbean students


* By KILAH ROLLE
Tribune Staff Reporter
THE best students in the
Bahamas were compared to top
Caribbean students and came
up lacking in knowledge of the
physical sciences.
Minister of Education Alfred
Sears said yesterday that while
recently visiting some Bahamian
students attending the Univer-
sity of West Indies in Trinidad,
he was made aware of the defi-
ciency in the Bahamian educa-
tion system.
"I was informed that these
students, the creme-de-la-creme
of Bahamian education,
although extremely intelligent,
could not compete with other


students in physics and chem-
istry.
"This is cause for pause," said
Mr Sears.
He said this shortcoming is
further compounded by the lack
of education in the South East
and South West Bahamas,
where these subjects are not
even taught.

Opportunity
"The system is not providing
them with the opportunity to
develop and flourish in these
areas," said Mr Sears. "Science
,needs to improve."
Mr Sears said the Ministry of
.Education is committed to


Bahamasair


defends penalty

By CARA BRENNEN
Tribune Staff Reporter

BAHAMASAIR yesterday defended the decision to revise itin-
erary change penalties on the heels of criticism from FNM MP Neko
Grant.
The airline claimed that Mr Grant hit out at the decision at
Tuesday's FNM rally without first understanding the issue.
At the rally, Mr Grant critisied the flag carrier, for imposing a $20
and $60 penalty on passengers who change their travel plans.
Mr Grant, who is the opposition shadow minister for Bahamasair,
said that this extra financial burden will affect thousands of pas-
sengers.
He said every week, hundreds of Bahamians must travel back and
forth and often must change their schedules for reasons beyond
their control.
"It is unconscionable that these persons should be forced to pay
a penalty for altering their schedules especially when many of
them can barely afford the basic airfare in the first place," Mr
Grant said.

Policy
However, Bahamasair claimed that the policy is necessary
because of the large number of passengers who often do not show
up for their flights.
As a result, the airline said, flights were taking off with many
empty seats.
"This practice of 'no show' prevents the airline from being able
to optimise sale of its inventory. Unlike other products, airline
seats are perishable.
"Once a flight takes off, it is impossible to ever sell any empty
seats on board. This causes would-be Bahamasair passengers to fly
on other carriers or not fly at all.
"Every other commercial carrier charges itinerary penalties
ranging from $85 to $125 for each segment. Bahamasair has only
imposed $60 (international) and $20 (domestic) penalties so as to
optimise use of its inventory and to discourage abuse of the system,"
said the airline in a press release.
The release claimed that Mr Grant was "wearing his socio/polit-
ical cap when it doesn't seem to matter whether the airline is mak-
ing financially sound decisions or not."
Bahamasair added that is finally doing well.
The release said loses are down, government subsidiaries are
down, on time performance is up, service quality is up, and
promised even better to come.
It added that passengers who in the past were unable to travel
because no-shows had reserved seats will be pleased with the intro-
duction of the penalty.


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transforming the entire educa-
tion system, in both private and
public schools, and embracing
the opportunities of the 21st
century.
Part of that transformation,
according to Mr Sears, will place
special emphasis on technical
fields and information technol-
ogy.
"We need an overhaul of our
national curriculum," he said,
"there seems to some contro-
versy over what it should be
based on. Most people feel it
should be based on the three
R's (reading, writing and arith-
metic), a basic liberal arts foun-
dation."
Mr Sears said that recently,
technology has'increased its


presence in the system, an
extended from high schoo
the primary school classro
"The key area is inform
technology," insisted Mr S
"we must focus on this in
to compete in the global w
Mr Sears added that th
million contract to compu
all the primary schools is c
ing more enthusiasm ai
young students than teach

Ensure
"We have to move away
the days of chalk and talk
grew up in and find wa
socialise our teachers, to e
they integrate information


id has nology into the process of teach-
l into ing," said Mr Sears.
aoms. He said there is a misconcep-
Lation tion in the education system
Sears, that students must be stream-
order lined.
orld." "It is not academic versus
e $10 technical," he said, "because in
terise today's world, even the best stu-
creat- dents in the technical and voca-
tional field need to have a
among strong scientific base in litera-
Lers. cy.,
The Ministry is currently
preparing for 18th National
Education Conference being
from held July 3 to July 7, and this
that I year they hope to broaden the
ys to scope of.eonsultation.anddia-
nsure logue.about ,tto stbo ,ufiS
tech- tion inthe:aBahmast .is.


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FRIDAY, MAY 13, 2005, PAGE 5.'


A


THE TRIBUNE















Press freedom, the internet and




human rights in the blogosphere


AS the Bahamas and
Caribbean countries
begin to interlink in the future
via the internet, the blog can be
a powerful tool. Bahamians
now have a new option for com-
munication on both a regional
and international basis.
The new media landscape is
evolving at unprecedented
speed and one of its most pow-
erful weapons yet is the mighty
blog. It is arguably the year of
the Blogosphere, a phenome-
nron that has profound implica-
tions for press freedom and
human rights.
This online community is
made up of over eight million
people who regularly post mate-
rial on the web-logs (blogs). It is


built on the foundations of its
predecessors newsgroups,
websites, web forums and chat-
rooms but with some crucial
differences.
The network of blogs is more
interactive than websites, more
interconnected than news-
groups or web forums and more
permanent than chat.
Blogging opens up unprece-
dented opportunities for the
media and its ability to cover
issues around the world. This
was clearly shown in the after-
math of the Asian tsunami at
the end of last year. It took only
a few hours for text and video
from Thailand, Sri Lanka and
Indonesia to be distributed
across the web.
These provided not just


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details for the news story, but
also the individual stories that
added a powerful personal ele-
ment to the images of disaster.

Many blogs are con-
nected with specifi-
cally political news websites,
such as the US sites Znet on the
political left (featuring Noam
Chomsky's blog) and Front-
pagemag.com on the political
right (featuring David
Horowitz' blog).
However, mainstream news
outlets are gradually recognising
this potential and a number of
major websites, notably the
Guardian newspaper in the UK
and Le Monde in France, have
introduced their own blogs.
These allow greater interaction.
between the outlets and their
audience and the opportunity
for them to learn from each oth-
er.
Anyone can start a start a
blog, comment on one and, usu-
ally, say whatever they want.
Blogs effectively sideline the
normal publishing process:
there is no editorial control;
rarely even a pretence at bal-
ance or impartiality; and quite
often, no respect for the rules of
traditional media, such as fact-
checking, confidentiality or
adherence to the law.
This is not necessarily,,always.,
a bad thing. Human rights and


freedom of speech activists in
many countries use blogs in an
attempt to get around censor-
ship laws and other restrictions.
Blogs also offer a degree of
anonymity for users who are
usually afforded the opportuni-
ty to post material without iden-
tifying themselves. People in
Iran and China have used blogs
to expose violations by their
governments and provide the
outside world with information
that otherwise might not have
been available.

C hinese bloggers flexed
their online muscles in
one high-profile incident early
last year. After a woman was
given a suspended sentence for
running over a farmer's wife
with her BMW in Heilongjiang
Province, thousands of web-
users made their anger known,
calling for a retrial.
A local court ruled that she
was "not concentrating proper-
ly and made a mistake in han-
dling the car" and gave her a
two-year jail sentence with a
three-year reprieve, which
meant she never spent a day in
prison.
Rumours about her hus-
band's political connections
were rampant on the web and
many suspected corruption in
the case.
The online pressure became
so intense that the police
reopened the case; though, ulti-
mately, a special judicial panel
upheld the original ruling and
ruled out corruption.
Bloggers in Iran set out ideas
and advocate policies that are
widely regarded to be a step
ahead of current social, political
and human rights debates. Blog-
gers' sites addressing women's
rights in Iran provide a platform


- or tribune for pushing for-
ward women's social, political
and economic rights.
The persistent pressure exert-
ed by bloggers in the case of
Afsaneh Norouzi, who was con-
victed of murdering a high-
ranking security and intelligence
official who had tried to rape
her, played no small part in her
recently being spared the death
penalty and finally released
from prison after more than
seven years' detention.
They also provide a means
for other bloggers to get in
touch with this burgeoning com-
munity in Iran. Blogs by mem-
bers of Iran's ethnic minorities
and their organisations, such as
the Association for the Defence
of Children's Rights, in Sanan-
daj, Kordestan, help advance
this field of rights in a region
where awareness is hampered
by fewer outlets to internation-
al standards and meaningful
ways of transmitting the infor-
. mation to the people who live
there in their own language.

Electronic civil disobe-
dience is not without
risk. In both Iran and China,
the authorities have increasing-
ly targeted bloggers to stifle dis-
sent. Bloggers are sometimes
arrested and sites discussing
political or social issues shut
down or redirected to enter-
tainment forums.
In one recent case highlighted
by Reporters sans frontieres, an
Iranian blogger, Mohamad
Reza Abdollahi, was sentenced
on appeal to six months in
prison and a fine of one million
rials for supposedly insulting
the country's leaders and mak-
ing anti-government propagan-
da.
Police subsequently arrested


his wife, another blogger whom
they accused of "defending her
husband too openly". Najmeh
Oumidparvar, who was four
months pregnant, spent 24 days
in detention before being
released on 26 March.

T he initial grace period
in which bloggers
enjoyed complete freedom
while the authorities caught up
with the technology has ended,
but it is still the easiest and
fastest way for activists to
spread information and many
continue to use them, despite
the personal risk involved.
This is one downside; anoth-
er is the amount of information
presented as fact. Blogs are indi-
vidual expressions of opinion.
Where "facts" are cited, they
should be treated with healthy
scepticism. f
As long as the reader niakes'
his or her own judgments'abouti
the information, the fact that
blogs do not purport to provide
a balanced view can be refresh-.'
ing, as there is little risk of a :
hidden agenda or bias.
They also offer an immedi-
ate right of reply and the oppor-
tunity for others to correct
information or to put across an
alternative viewpoint immedi-
ately.
The Blogosphere provides
anyone with access to a com-
puter the opportunity to meet
like-minded people and organ-
ise activities anywhere in the
world. For activists and jour-
nalists alike, it is a powerful
tool.

To find out more about
Amnesty International, visit our
webpage at www.amnesty.org or
contact the local office of A.L
at 327 0807.


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67 Electronics Technology
403 Internet Multimedia &
Design NEW .
62 Mechanical Engineering Technology
402 Web Programming NEW
CAREER DIPLOMA COURSES
72 Appliance Repair
32 Artist
158 Auto Body Repair Technician


04 Auto Repair Technician
02 Basic Electronics
390 Bookkeeping
104 Carpenter
59 Catering/Gourmet Cooking
03 Child Day Care Management
22 Conservation
105 Computer Graphic Artist
24 Dental Assistant
395 Dog Obedience Trainer/Instructor
85 Drafting
42 Dressmaking'& Design
06 Electrician
79 Electronics Technician
400 English: Reading & Writing
94 Fitness & Nutrition
30 Floral Design
76 Freelance Writer
384 Furniture & Cabinet Maker
145 Home Remodeling & Repair
05 Hotel/Restaurant Management
14 HVAC Technician
12 Interior Decorator
381 Medical Coding and Billing NEW
23 Medical Office Assistant
39 Medical Transcriptionist
33 Motorcycle Repair Technician


Get FREE Information MAIL OR FAX ENTIRE AD TODAY
Write the number of the one career that Interests you


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383 Occupational Therapy Aide
08 Paralegal
27 PC Repair NEW
38 PC Specialist
84 Pharmacy Technician
40 Photographer
146 Physical Therapy Aide
151 Plumber
58 Private Investigator
160 Professional Bridal
Consultant NEW
102 Professional Landscaper'
13 Professional Secretary
70 Small Business Owner
89 Small Engine Repair
26 Teacher Aide
387 Telecommunications
Technician
35 Travel Agent
87 TVNCR Repair
07 U.S. High School Diploma
88 Veterinary Assistant
83 Web Page Designer
COMPUTER PROGRAMMING
01 Programming in BASIC
37 Visual Basic' .NET
36 Visual C# .NET

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PHONE E-MAIL
ACCREDITATIONS AND APPROVALS. Education Direct is an accredited member of the Distance Education and
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A*


-II~~--~-------' ""'--


f


-- I 11 111 __ I


- I ---- I -- I II-- I


m


PAGE 6, FRIDAY, MAY 13, 2005


...IIW 44m-


THE TRIBUNE


- 09k~y~








THEAL NEWSA


College




presents




monks




with




awards


* ARCHBISHOP Patrick Pinder presents the new Beacon Award to Prior Mel Taylor of St Augustine's Monastery. Pictured from
left to right are Eizabeth Estates MP Malcolm Adderley, Fr George Wolf, 89, who was sent to the Bahamas shortly after his ordination
and spent his life here, becoming a Bahamian citizen; Prior Mel Taylor, Fr Fintan Bromenshenkel, Archbishop Pinder, Mrs Judith
Barnett-Adderley and Hubert A Chipman, chairman of the Catholic Board of Education
(Photo Franklyn G Ferguson)


THREE Benedictine monks
whose contribution to the
Bahamas has been described as
"unquantifiable" have been
honoured with a special award
from St Augustine's College.
The monks, Prior Mel Tay-
lor, Father George Wolf and
Father Fintan Bromenshenkel,
are the first recipients of the
new Beacon Award, created to
mark St Augustine's 60th
anniversary.
By the end of the year, the
Benedictine monks of St John's
Abbey, Minnesota will no
longer be part of St Augustine's
Monastery or school.
But Mr Malcolm Adderley
told Catholics at a special
anniversary ball on Saturday
May 7, that "their works for the
Bahamian people will live on
in the hearts and spirit of our
SAC family and the wider com-
munity."
Father Mel, Father George
and Father Fintan were pre-
sented with the award "as a
symbol of our eternal grati-
tude", said Mr Adderley, co-
chairman of the anniversary ball
committee.
He said the criteria for the
Beacon Award were integrity,
unselfishness, commitment,
dedicationiand service to one's
fellowmen.
Mr Adderley described the


monks as "a group of men who,
having taken the vows of
poverty, travelled to what
was then a little insignificant
group of islands and made
an indelible mark by pro-
pelling a generation of peo-
ple into the future, giving them
a life filled with hope and aspi-
ration to control their own
destiny."
The Beacon Award also went
to a group of nuns, the Sisters of
Charity, whose "rich contribu-
tion" helped the success of
Xavier's and St Augustine's.
Like the monks, the nuns
from Mount St Vincent on the
Hudson, New York, had started
an academy in 1889 and in 1956
founded Xavier's College which
up to 1967 was an all-girls
school. Then it became "an inte-
gral part of the SAC legacy",
said Mr Adderley.
A third Beacon Award went
to Mrs Floridell Adderley, the
widow of Deacon Leviticus
Adderley, who was affection-
ately known as Uncle Lou.
Deacon Adderley was
described by Mr Adderley as
"our teacher, coach, mentor,
spiritual adviser, most trusted
friend and more."
Deacon Adderley rose from
head boy of SAC's class of 1951
to college principal in 1973 and
permanent deacon in the


Roman Catholic Church in
1976.
Tracing the history of SAC,
Mr Adderley praised the col-
lege founder, the late Father
Frederick Frey, as "a man small
in stature but with a powerful
and determined mind."
Father Frederick, said Mr
Adderley, was responsible for
"one of the greatest success sto-
ries in the world" and envisaged
the embodiment of SAC men
and women.
He added: "It has been 60
years since the birth of St
Augustine's College. Over these
many years thousands have
passed through SAC's corridors
- some have left no trace, no
footprints on the proverbial
sands of time.
"But many never left...their
minds, bodies and souls are
embedded forever in what we
call the SAC dream, the SAC
spirit, the SAC tradition."
When the school and
monastery were established in
1945, Benedictines from St
John's Abbey, Minnesota, had
already been working in the
Bahamas for half a century.
Now, he said, that link with
Benedictines was coming to an
end. Before the end of the year,
they would no longer be a part
of St Augustine's Monastery or
school.


-


S r-

"Copyrighted Material
Syndicated Content
Available from Commercial News Providers"






















in the Ocean
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in the Ocean
IT is rarely a surprise to hear
of the rich and famous taking a
trip to the Bahamas but even
a venue as exclusive as the
Ocean Club has its work cut out
tonight.
Not only will the two founders
of Dell be in town for a fortieth
birthday part, but Beverley Hills
90210 actor Jason Priestley is
holding his wedding there.
According to one guest who
will be attending on the night,
entertainment is being provided
by cult band Squeeze and come-
dian Jerry Seinfeld.


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PUBLIC SERVICE

COMMISSION

VACANCY FOR CHIEF SUPERINTENDENT,
GOVERNMENT PRINTING DEPARTMENT,
CABINET OFFICE

Applications are invited from suitably qualified Bahamians
for appointment to the post of Chief Superintendent at the
Government Printing Department, Cabinet Office.

Applicants must possess:

(7) A Bachelor's degree in Management/Business
Administration or Print Management:

(8) Aminimum often (10) to fifteen (15) years experience
in a supervisory or managerial capacity (Experience
in a printing operation would be an asset);

(9) Good organizational and communication skills;

(10) The ability to prepare clear and concise reports;

(11) The ability to diagnose problems and make quick
decisions;

(12) The ability to prepare budgetary forecast for the
efficient operation of the department.

The successful applicant must be mature and energetic. His/
Her responsibilites will include ensuring the efficient operation
of the Department at all times, the proper allocation of staff
as well as monitoring the performance of the department and
staff.

The salary of the post is in Scale E13 $35,000 x 700 to
$41,300 per annum. Entry point on the scale would be
commensurate with qualifications and experience.

Serving Government Officers should apply through their
Heads of Department.

Application forms may be obtained from the Department of
Public Service, Poincianna Hill, Meeting Street or the Cabinet
Office, Churchill Building, Bay Street. Completed forms
should be returned to the Secretary, Public Service Commission,
Poincianna Hill, Meeting Street, P.O. Box N1418, Nassau,
Bahamas not later than 27th May, 2005.


THE TRIBUNE


FRIDAY, MAY 13, 2005, PAGE 7










PAGE 8, FRIDAY, MAY 13, 2005 THE TRIBUNE


"1''
.....


0ng


FINANCIAL INFORMATION

IBORROWER: any funds as from time to time are provided by Parliament,
anyfunds as from time to time accrue to The Clifton Heritage Authority from the
management of Clifton Heritage,
any funds~as from time to 'time are borrowed by The Clifton Heritage Authority or, .
raised by The Clifton*Heritage Authority, pursuant to Section 10 of The Clifton
Heritage Authority Act, 2004, a nd
:ny funds a. from time to time are advanced to The Clifton Heritage Authority
pur ttction 10 of The Clifton Heritage Authority Act 2004.
Th'e nds, which ar....thesubjc tof this prospectusare issued in accordance with Section
10 of Th Clifton Hericage AuthorityAct, 2004.

S UGARANIOR: The Gwhichacompise this issu are gua eeda by the Government ofThe
Comonwealth of The Bahmsif .
.... ::*i : z: :. : : : .. ''~
i : : : 4 : 4"


Tru 7


TRANSFER AGENT-
K OF THE BAHAMAS
JK STREET ....


NA
TEL: 1 (242):


PURPOSE OF BONDISSiUE/1

The financing hine, raised will.be used byv T


), and manage The
heritage Park. The
d interpreters who-
L list, Enslaved

t ~~ ~ s:


jNTR C O N.. ................................................................................ ................... 3

BACKGR MOUN INFORMATION..................................................................................3

FINANCIAL NFORMATION.. .............................................4


TERMS.AND CONDITIONS OF THE OFFERING

.. k SSUER: The Clifton Heritage Authority'
GUARAN1"OR:i i The Government of The Commonwealth of The Bahamas
AMOUNT: B$24,000,000.00
MATV1aRITYDATES: B$8,000,i00 due on May 20, 2025
'$8,000,0090due on May 20, 2030
S$8,000,000due on May20,2035 .
Ei I,'I 1 E: Bonds du n M20,2025 at 1/2% per annum above Prime Rate
'Bondsduc. *y 2030 at 5/8% per annum above PrimeRate
Bondsdueo ay 20, 203 at 3/4% per annum above Prime Rate
The Bonds will beartvtfr ay 20, 2k athinterest rates shown above The f.s
be madeon Novmber b20, 2(5 d sbquI interst payments ~will be made on Maty 0 v
ofeach year thereaftel until he4"4" ds auc rpaid











Bank of The Baharna.).
...... ....... M y-N IA \ e-c ', .
4 4 *4. .:.. .. < : :


CALLABILITY


Applications to ptrch


- TINTRODU)ICTION

This is a prospectus for the subscription of bonds issued by The Clifton Heritage Authority (The Authority).
S..'This offer is.made solely upon terms and conditions contained in this prospectus, and no person has been
authorized tbprovide any information or to make any representations with regard to the bonds being offered
otheirthan by way of this prospectus.


CONDIMONS OF
APPLICATION AND


The right is reserved to reject any application in whole or in part.

All applications must be fully completed. using the form provided herein and
musiiti be for a minimum purchase of B$10(00, and in increments of BS100.0O
thereafter.
In allocatinglbonds subscribed for, subscriptions from individuals up to
B$io,00Q will' be fully served before any applications will be made to
operate sbersThat portion of individual subscriptions in excess of
0,)0dcoporate subscriptions will be allocated on a pro rata bbs i

Ap 4 fori"e"u, 'Bvond s should"be made to theWR' A.i .


An early examination of the previously unknown two subsurface structu
retains showed association with materials from the second half of the
century. The architectural style of the first is associated wit ienslaved Afric
and this structure may represeniine of the earlistslav cbiiThe Ban
The second structure, a well-preserved limeton ortar'>oo led
archaeol Oistswfurther their radiocarbon d4~a sis ~ h


~R~i~ii








THE TRIBUNE


FRIDAY, MAY 13, 2005, PAGE 9


I0LOCAL NEWS I


APPLICATION FORM

THE CLIFTON HERITAGE AUTHORITY BONDS DUE 2025. 2030. AND 2035
GUARANTEED BY THE GOVERNMENT OF THE COMMONWEALTH OF THE BAHAMAS


APPLICATION NO.
ALLOTMENT NO.
DATE:


The Registrar
c/o The Central Bank of The Bahamas
P.O. Box N-4868
Nassau, Bahamas
Sir
I/We hereby apply for the following amount of The Clifton Heritage Authority Bonds:

Insert below the amount applied for
in units of B$100


1/2 % Above Prime Rate
5/8 % Above Prime Rate
3/4 % Above Prime Rate


Bonds 2025 B$
Bonds 2030 B$_
Bonds 2035 B$_


and undertake to accept any less amount which may be allotted to me/us.

I/We enclose B$ in payment for the Bonds applied for. In the event of the full
amount of Bonds applied for above is/are not allotted to me/us, I/we request that the sum refundable to me/us be
applied for the following Bonds:


1/2 % Above Prime Rate
5/8 % Above Prime Rate
i 3/4 % Above Prime Rate


Bonds 2025 B$
Bonds 2030 B$
Bonds 2035 B$_


BANK DRAFTS SHOULD BE MADE PAYABLE TO THE CENTRAL BANK OF THE BAHAMAS



BANK DRAFTS SHOULD BE MADE PAYABLE TO THE CENTRAL BANK OF THE BAHAMAS



Ordinary Signature

Name in Full (BLOCK LETTERS, state whether Mr., Mrs., or Miss and titles if any.)

Address (Corporation etc. should give Registered Addresses, Telephone Numbers, Facsmile Numbers)





(where two or more persons apply as joint subscribers, the additional names and addresses should be give
below.)
Ordinary Signature
Name in Full
Address
Telephone No.

Ordinary Signature
Name in Full
Address
Telephone No.


I/We hereby request interest to be paid by:
0 Bank Credit


Account holder Name
Rankl Marn.


Bank Branch
Type of Account.
Account Number


* ANTHONY Aliens, port controller (right), and Lt Commander Herbert Bain, international ship
and port facilities security co-ordinator, inspecting port facilities



Testing readiness




against attack


A FULL-SCALE simulated
emergency exercise will be con-
ducted this month to evaluate
the country's capability to
respond to terrorist attack.
The event, codenamed
"Exercise Iron Shield" will
include a simulated explosion -
but authorities promise that this
will be strictly controlled.
Port director Captain Antho-
ny Aliens said the simulation
was necessary in light of the
September 11 terrorist attacks
and other subsequent threats to
the national security of coun-
tries around the world.
"If something like this should


occur, we all want to know that
our response teams will be able
to respond and to react in a pos-
itive, determined, highly pro-
fessional and co-ordinated man-
ner," said Capt Allens.
The Port Department will
conduct the simulation at Prince
George Wharf next Thursday.
Testing port security annual-
ly is a requirement of the Inter-
national Ship and Port Facility
Security (ISPS) code which
came into effect last year.
Lieutenant Commander Her-
bert Bain, ISPS co-ordinator for
the Bahamas, said the exercise
would help to strengthen the


co-ordination between the local
agencies that would respond to
a threat at any port of entry.
"If something was to happen
and the response was not prop-
erly co-ordinated, chaos would
exist," he added.
Taking part will be teams from
the Royal Bahamas Police Force
and the Royal Bahamas Defence
Force, the Road Traffic Depart-
ment, Ministries of Tourism, For-
eign Affairs and Health, Depart-
ment of Immigration, Customs
Department, Public Hospitals
Authority and the National
Emergency Management
Agency (NEMA).


(B Copyrighted Material

^m Syndicated Content -

Available from Commercial News Providers"



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PAGE 10,FRIDAYMAY13,2005TLOCALNEWSHETRIBU


KINGSWAY ACADEMY
P.O. Box N-4378
NASSAU, BAHAMAS


VACANCIES FOR SEPTEMBER, 2005
SECURITY GUARD
Kingsway Academy is seeking the service of a trained Security
Guard. Only qualified persons should apply. Deadline for
applications is Thursday, May 12, 2005.
All information for the above positions should be sent to:
Ms. Kelcine Hamilton
Academy Affairs Manager
Kingsway Academy Business Office
Bernard Road




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Office Space Unfurnished
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Queens Highway, Freeport, Bahamas
Contact 351-9026 or 351-1601 For Viewing
Or Additional Information.
Global United Formerly TANJA is
moving it's operation to the
Former United Shipping Building at the Harbour


Tour operator aims



for internet attraction


THE largest tour operator in
the Bahamas has teamed up
with a website to attract a
worldwide audience to the
country.
Bahamas.gour.net has part-
nered with Majestic Holidays
to jointly promote and deliver
its specially designed "gourmet
travel experience tours" to Nas-
sau and Grand Bahama.
Majestic Holiday introduced
these tours to the European


Campaign targeting 'upscale visitors'


travel market in Germany late
last month. These tours are
designed to attract upscale visi-
tors to the Bahamas.
Bahamas.gour.net is commit-
ted to developing additional
specialty tours to the out
islands, including Abaco, Exu-


* LIEUTENANT Stephen Rolle


ma and Harbour Island.
Bahamas.gour.net offers a
wide range of services to its
clients, including online reser-
vations, direct online booking
services, cross banner ex-
changes, quarterly news, and
statistics on unique visitors


* LEADING seaman Basil Miller


to the customer's websites.
Some of the activities the
website is promoting are golf,
fishing, diving, fine dining,
gourmet travel experiences,
casino gambling, soft adven-
tures, island-hopping, histori-
cal tours and museums.


0z


* -W


"Copyrighted Material
Syndicated Content
Available from Commercial News Providers"
-


OF
* o


---. -


o - -


TWO defence force officers are the latest to
return from training courses in the US.
Lieutenant Stephen Rolle and Leading Sea-
man Basil Miller have both returned after 4-
month training courses conducted by the US
Coast Guard.
Lt Rolle, the base maintenance officer on
HMBS Coral Harbour, was in Yorktown, Vir-
ginia.
He completed a programme in incident cri-
sis command and control, as well as an
international maritime officers course and a
command and operation course at week at


the Coast Guard academy in New London,
Connecticut.
Leading Seaman Basil Miller completed a
four-month intensive US Coast Guard train-
ing course in California.
He also took part in an emergency med-
ical technician programme, in which partici-
pants were required to administer emergency
treatment to the sick and injured, and a health
service technician course.
Seaman Miller also took part in an on-the-
job training programme at the Ralph R Nix Jr
medical clinic in Tracen, Petaluma.


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PAGE 10, FRIDAY, MAY 13, 2005


. 4


o o o
"qb


THE TRIBUNE







THE ~ ~ ~ ~ ~ ~~ OA TRBNNFIAEAW3,20,SAE1


Nuns still in the habit as


they reach anniversaries


* By CARA BRENNEN
Tribune Staff Reporter
NEXT Monday four Bene-
dictine sisters will celebrate a
milestone as they commemo-
rate their silver and jubilee
anniversaries serving God.
In honour of the occasion the
nuns will hold a service of
thanksgiving at St Frances
Xavier Cathedral at 11am.
* Sister Agatha Hunt, born
Winifred Barbara Hunt,
entered Saint Mary's Convent
on September 16, 1952 and pro-
fessed her first vows on March
1955. She taught and worked in


parishes on New Providence,
Bimini and Grand Bahama
before retiring in 1999.
0 Sister Ena Albury entered
the Scholastic of Saint Martin
Convent on March 17 1953 and
received her habit on October
15 that year. On September 2
1963 she transferred her vows to
the Benedictine Sisters in Saint
Joseph, Minnesota.
Sister Ena has taught at
Catholic Schools across the
country. She has mainly taught
seven to 10-year-olds and her


anniversary as a nun. Born in
Eleuthera, Sister Marva was
educated at St Francis and then
Aquinas College. She entered
St Martin's in 1977 and took her
final vows in 1984.
She has a double degree in
theology and elementary edu-
cation from the College of St
Benedict in Minnesota in 1993.
Presently, Sister Marva is the
senior mistress and family life
teacher. She is also the religious
education co-ordinator at St
Bede's Parish. She described
her ministry educating youth
as a challenge and joy.


"Copyrighted Material
Syndicated Content -
Available from Commercial News Providers"

.-


-.m q - --


Catholic schools around the
country and in Minnesota, Sis-
S ter Mary Cecilia is now director
of St Joseph's Day Care Centre
* SISTER Ena Albury and song leader at Sacred Heart
Parish.
religious name Sister Cecilia. 0 Sister Marva Coakley, the
During the Marian year (the youngest Benedictine sister at
year of Mary) Mary was added the convent, celebrates her 25th


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I


FRIDAY, MAY 13, 2005, PAGE 11


THE TRIBUNE


I Ir,,,







PAGE 12, FRIDAY, MAY 13, 2005 THE TRIBUNE


I 11


DEPARTMENT OF

STATISTICS

LABOUR FORCE
SURVEY IN PROGRESS



The Department of Statistics will

conduct its Annual Household Survey

during the month of May 2005.


Islands selected for the survey: New

Providence, Grand Bahama, Long Island

and Exuma.


Enumerator with official Identification

cards from the Department of Statistics

will visit residents. Please complete the

questionnaires honestly and accurately.


All information obtain


is strictly


confidential.


Pre-schools open



doors on Andros


THREE pre-schools were
opened in central Andros on
Wednesday.
The public pre-schools were
opened at the primary schools
in Behring Point, Fresh Creek
and Mastic Point. The con-
struction of a new school com-
plex for Fresh Creek will begin
this year.
"We have to give every
Bahamian child an opportunity
to have a smart start, an early
start," said Education Minister
Alfred Sears.
"It should not be only for
those families who can afford
to send their children to private
pre-schools with trained teach-
ers. All of our people deserve
that opportunity."
Education was an election
priority for the PLP, which said
it would provide "pre-school
education for every Bahamian
child in our country".
According to government fig-
ures, 28 pre-school units have
been established since it came
to office three years ago.
"Our pre-school programme
is a very special one," said
senior education officer Agatha
Archer.
"Our programme is sound
and developmentally appropri-
ate. Our government teachers
are well-trained and work
exceptionally hard in deliver-
ing a child-centered pro-
gramme."
North Andros MP Vincent
Peet said pre-schools are "criti-
cal to the future growth and
development of our country".
"It is the government's com-
mitment under this Minister to
ensure that pre-schools are
opened throughout the
Bahamas so that our youngsters
are exposed to the right stuff at
an early stage.
"The government with the
able leadership of (Mr Sears)
will take our country to the
level yet unheard of as we
educate all our children no
matter where they live in


* ELEANOR Caesar was a hit among pre-schoolers as she
introduced them to Spanish


the Bahamas," he said.
In consultation with stake
holders, he said, the govern-
ment enacted the Pre-school
Education Act to regulate all
pre-schools in the country.
Regulations will be enacted
in September requiring pre-
schools to observe a common


standard and to reflect the best,
practices, said Mr Sears.
"When we came to office we
recognised that we have to
reach our students at the most,
formative years, the most fer-
tile time in the cognitive devel-
opment of our students," said
Mr Sears. -' .


Tyiece is a four year

old in need of

!..''medical treatment


at Miami Children's

I. LHospital for surgery

to repair her bladder

and bowels.




::. . .. ..... ..



Please assist her in having a normal childhood.

Send donations to account #7021785 at The Royal Bank of Canada


THE TRIBUNE


PAGE 12, FRIDAY, MAY 13, 2005








THE TRIBUNE


FRIDAY, MAY 13, 2005, PAGE 13


SW H A T S O N I N A N D A R O U N D N.A S S A U
............................................................................................................................................................ ...........................................................................







H i .... iii ... *;:.:?...









S... EM A I L : 0 U T T H E R E @ T RI B U N E M ED I A N ET


Parties, Nightclubs \ l
mMEIN= & Restaurants

Kemistri: Black Friday Edition, will be held on Friday,
May 13. Tranquility Shores, Taino Beach. Features:
Summer and Swimsuit Fashion Show. Dress code:
Casual (No sportswear). $5 off admission at the door
.with any black clothing. For more information, email:
kemistri_7@hotmail.com

BLISS: The Extreme Matrix pt II @ Cafe Villagio,
Caves Village on Saturday, May 14. Admission: $25
includes complimentary drink, cigar, chocolates &
hors d'oeurves. Music by Nassau's hottest DJs. Dress
code: smart casual. No tennis shoes. No t-shirts. No
hats. No sportswear. For more information call 356-
4612 or email extremelvip@hotmail.com. Or log on to
www.extremevip.com

M.A.D. Thursdays, every Thursday night @ Club
Nsomnia. Hosted by Jamaican artist, Beenie Man.
Special performance by Club Nsomnia's Internation-
al Coyote Girls. Ladies free before 11pm Guys $15
before llpm. Late night happy hour from 9pm-llpm:
$1 drink specials. Music by Barry da Pusha, DJ Fines
and Mr Excitement. Doors open at 9pm. Dress Code:
smart casual. No hats. No t-shirts. No singlets. No
sportswear.

Exotic Saturdays @ Fridays Soon Come starts with 3
for $10 drink specials. Admission: $10 before mid-
night and $15 after. Ladies free before ll1pm.

Rave Saturdays @ Club Eclipse. DJ Scoobz spinning
the best in Old Skool. Admission $35, all inclusive
food and drink.

Fever @ Bahama Boom, Elizabeth St, downtown,
every Friday night. Admission $10 before midnight.
First 50 women get free champagne. First 50 men get
a free Greycliff cigar. Dress to impress. For VIP reser-
vations call 356-4612. . ...... .

Cool Runnings is back with a Conscious Party @ Hard
Rock Cafe, Charlotte St North every Friday. Classic
reggae style music. Admission $10.

Mellow Moods every Sunday @ Fluid Lounge and
Nightclub, Bay St, featuring hits from yesterday old
school reggae and rockers downstairs, and golden.
oldies upstairs. Admission: Free. Doors open 9pm.


S* he mhie e et en





they're calling it M.A.D. Thursdays, and
another week kicks off Thursday night at
Club Nsomnia. And the event will be host-
ed by the "girls dem sugar" himself,'Beenie
Man.
Beenie (which means 'little' in the Jamaican dialect)
was only five years old when he first grabbed a micro-
phone at a sound system dance by his uncle's Master
Baster set. Three years later, he recorded his single
debut, Too Fancy, for the late legendary reggae pro-
ducer Henry 'Junjo' Lawes.
By 1993, Beenie Man had some well-deserved respect
in the industry, ascending to the top ranks of Jamaica's
dancehall dominators. Beenie Man has established him-
self as the hands-down stage master "a ragamuffin
Fred Astaire with huge, velvet-lashed cow eyes, a long
lean body meant for waist whinin' and a willingness to
try anything," according to his website.
Those who come out to M.A.D. Thursdays are
expected to be well entertained by this energetic host.
There will also be a special performance by Club Nsom-
nia's International Coyote Girls. Ladies get in free
before llpm; Guys $15 before l1pm. Late night happy
hour from 9pm-11pm: $1 drink specials. Music by Bar-
ry da Pusha, DJ Fines and Mr Excitement. Doors open
at 9pm. Dress Code: smart casual. No hats, no T-shirts,
no singlets, no sportswear. ,,

the mind of artlovers. Collie s more exotic, feminine
Sweet Sunday Chill Out Soiree Lounge, every Sunday, pieces celebrate woman her curvaceous shape blend-
4pm-midnight @ Patio Grille, British Colonial Hotel. ed in pastel shades. By contrast, Wright's work uses
Wet Sundays, every Sunday, noon-midnight @ Crystal bright almost glaring primary colours. Though Wright's
WBeach.undmissionverySdanoidpaintings suggest a more masculine energy, he has
Cay Beach. Admission $10, ladies free. used the female form in black and hot tones with
Carib Scene @ Club Fluid every Sunday. A night of smouldering looks and proud stances. In some of Col-
Carib Scene @ Club Fluiand Reggae flavours for all audi- ght of lie's pieces, she uses brighter tones to highlight just the

ences. Latin Flair in the VIP Lounge;'Old School body (minus the head). The exciting show, sponsored
Reggae and Soca in the Main Lounge. Ladies in free by the Credit Suisse Supports Bahamian artists Pro-
Reggae and Soca in the Main Lounge. Ladies in free gramme, runs from Monday, May 16 till Friday, May
before 11pm. $10 after 11pm. Men, $15 cover charge. 21 at the Central Bank of the Bahamas. An opening


Karaoke Music Mondaze @ Topshotters Sports Bar. Restaurant on West Bay St and
Drink specials all night long, including karaoke warm- TooLooSe @ Indigo Restaurant on West Bay St and
up drink to get you started. Party from 8pm-until. Skyline Drive. Singer/songwriter Steven Holden per-
forms solo with special guests on Thursday from 9pm

Karaoke Nights @ Fluid Lounge and Nightclub. Begins midnight.
10pm every Tuesday. Weekly winners selected as
Vocalist of the Week $250 cash prize. Winner select- The Graham Holden Deal @ The Green
ed at end of month from finalists cash prize $1,000. Parrot....David Graham, Steve Holden, Tim Deal and
Admission $10 with one free drink. Friends perform Sunday, 7pm 10pm @ Hurricane
Hole on Paradise Island.
Reggae Tuesdays @ Bahama Boom. Cover charge
includes a free Guinness and there should be lots of Jay Mitchell and Hot KC @ Palm Court Lounge,
prizes and surprises. Admission: Ladies $10 and Men British Colonial Hilton, Wednesday-Thursday 8pm-
$15. 12am.

Hump Day Happy Hour @ Topshotters Sports Bar Sunday Night Interlude @ Briteley's Restaurant &
every Wednesday 5pm-8pm. Free appetizers and Lounge, Eneas St off Poinciana Drive. Featuring
numerous drink specials. Frankie Victory at the key board in the After Dark
Room every Sunday, 8.30pm to midnight. Fine food
Flash Nights @ Club Fluid every Thursday. The ulti- and drinks.
mate Ladies Night. Join Nassau's and Miami Beach's
finest men. Ladies only before 11.30pm with free Paul Hanna, Tabatha and Gernie, and the Caribbean
champagne. Guys allowed after 11.30pm with $20 Express perform at Traveller's Rest, West Bay St,
cover, every Sunday, 6.30pm-9.30pm.

The Pit @ Bahama Boom, every Thursday. Doors 1' The Arts J
open at 9pm, showtime 1l.30pm. Cover charge $15.
$10 with flyer. Dis How We Livin, an exhibition by Sheldon Saint
runs until May 13 @ the Central Bank, Frederick
Fantasy Fridays @ Fluid Lounge, featuring late '80s Street. This is Saint's first one-man show. The accom-
music in the VIP Lounge, Top of the Charts in the plished Bahamian artist is recognized as one who cap-
Main Lounge, neon lights and Go Go dancers. Glow tures the natural beauty and grace of everyday island
sticks for all in before midnight. Admission: Ladies life. A prodigy in a sense, Saint has no formal art
free before 11pm, $15 after; Guys $20 all night., training, yet is able to create exceptionally detailed
works in oil, watercolours, egg tempera and pencil. His
Dicky Mo's Fridays @ Cable Beach. Happy Hour 3 work was selected for the National Art Gallery's Inau-
for $10 mixed drinks and $1 shots. gural Exhibition in 2003 and the Second National


Twisted Boodah Lounge @ Cafe Segafredo, Charlotte
St kicks off early this Friday at 6pm with deep house
to hard house music, featuring CraigBOO, Unkle
Funky and Sworl'wide on the decks.

Chill Out Sundays @ Coco Loco, Sandyport, from
4pm-until, playing deep, funky chill moods with world
beats.


Exhibition in 2004. Among his commissions is a por-
trait of the former Prime Minister of the Bahamas
the late Sir Lynden 0 Pindling for the suite at the
Xanadu Beach Hotel. Since 1997, Saint has been a pri-
vate instructor, and the Vice President of the Art
Association of Grand Bahama.

Split Personality, a joint art show by Nicole Collie
and Lemero Wright hopes to challenge the eyes and


night reception will be held on Thursday, May 19
from 6pm till 9pm.

National Art Gallery of the Bahamas (NAGB) events
for May 2005:
* Saturday, May 21: Youth Workshop on Glassworks.
Facilitator: Diane Burrows. Age group: 7 and over.
Time: 10am 1pm. Cost: $5 (members)/ $8 (non-mem-
bers)
* Thursday, May 26: Life and Debt (2001), a docu-
mentary by' director and producer Stephanie Black.
Rated: PG-13. Time: 7:45pm. Length: (86 minutes)
Rather than the traditional Issues forum, NAGB in
collaboration with the College of the Bahamas' School
of English Studies experiments with a short program
of issue-oriented cinema. Discussants for the Life and
Debt viewing are Tamico Gilbert of Amnesty Inter-
national, and Bernadette Butler, lawyer for the
Bahamas, CSME.
(All events to take place at NAGB, West & West Hill
Streets. Call 328- 5800, or logon to www.nagb.org.bs for
more information)


Bahamas through the decidely British medium of
watercolour. Gallery hours, Tuesday-Saturday, 11am-
4pm. Call 328-5800 to book tours.

Health

Doctors Hospital's Distinguished Lecture Series, on
Thursday, May 26, will focus on Senior Health with Dr
Agreta Eneas-Carey as the speaker. To reserve seats,
contact Doctors Hospital's Marketing Department @
302-4707/ 302-4603. Lecture begins @ 6pm.

The Cancer Society of the Bahamas meets at 5.30pm
on the second Tuesday of each month at their Head-
quarters at East Terrace, Centreville. Call 323-4482 for
more info.

MS (Multiple Sclerosis) Bahamas meets the third
Monday every month, 6pm @ Doctors Hospital con-
ference room.

The Bahamas Diabetic Association meets every third
Saturday, 2.30pm (except August and December) @
the Nursing School, Grosvenor Close, Shirley Street.

Doctors Hospital, the official training centre of the
American Heart Association offers CPR classes cer-
tified by the AHA. The course defines the warning
signs of respiratory arrest and-gives prevention strate-
gies to avoid sudden death syndrome and the most
common serious injuries and choking that can occur in
adults, infants and children. CPR and First Aid class-
es are offered every third Saturday of the month from
9am-lpm. Contact a Doctors Hospital Community
Training Representative at 302-4732 for more infor-
mation and learn to save a life today.

REACH Resources & Education for Autism and
related Challenges meets from 7pm 9pm the second
Thursday of each month in the cafeteria of the BEC
building, Blue Hill Road.

'' Civic Clubs iI

Toastmasters Club 1905 meets Tuesday, 7.30pm @
BEC Cafe, Tucker Rd, and at Chickcharney Hotel,
Fresh Creek, Andros, at 7.30pm. Club 9477 meets
Friday, 7pm @ Bahamas Baptist Community College
Rm A19, Jean St. Club 3956 meets Thursday, 7.30pm
@ British Colonial Hilton. Club 1600 meets Thurs-
day, 8.30pm @ SuperClubs Breezes. Club 7178 meets
Tuesday, 6pm @ The J Whitney Pinder Building,
Collins Ave. Club 2437 meets every second, fourth and
fifth Wednesday at the J Whitney Pinder Building,
Collins Ave at 6pm. Club 612315 meets Monday 6pm
@ Wyndham Nassau Resort, Cable Beach. Club
753494 meets every Wednesday, 6pm-8pm in the
Solomon's Building, East-West Highway. All are wel-
come.

Alpha Kappa Alpha Sorority, Eta Psi Omega chapter
meets every second Tuesday, 6.30pm @ the Eleuthera
Room in the Wyndham Nassau Resort, Cable Beach.

Alpha Phi Alpha Fraternity meets every first Tuesday,
7pm @ Gaylord's Restaurant, Dowdeswell St. Please'
call 502-4842/377-4589 for more info.

Kappa Alpha Psi Fraternity meets every second Tues-
day, 6.30pm @ Atlantic House, IBM Office, 4th floor
meeting room.

The Nassau, Bahamas Pan-Hellenic Council (NPHC)
meets every third Monday of the month in the Board
Room of the British Colonial Hilton Hotel, Bay St.


The National Collection @ the National Art Gallery of
the Bahamas, an exhibition that takes the viewer on a Nassau Council 10415 Knights of Columbus meets
journey through the history of fine art in the Bahamas. the second and fourth Wednesday of the month, 8pm
It features signature pieces from the national collec- @ St Augustine's Monestary.
tion, including recent acquisitions by Blue Curry,
Antonius Roberts and Dionne Benjamin-Smith. Nassau Bahamas Koinonia meets every second Friday
Gallery hours, Tuesday-Saturday, llam-4pm. Call of each month, 7.30pm at Emmaus Centre at St
328-5800 to book tours. Augustine's Monestary. For more info call 325-1947
after 4pm.
Past, Present and Personal: The Dawn Davies Col-
lection @ the National Art Gallery of the Bahamas, International Association of Administrative Profes-
Villa Doyle, West and West Hill Streets. The exhibi- sionals, Bahamas Chapter meets the third Thursday of
tion is part of the NAGB's Collector's Series. Gallery every month @ Superclubs Breezes, Cable Beach,
hours, Tuesday-Saturday, llam-4pm. Call 328-5800 to 6pm.
book tours.
AMISTAD, a Spanish club meets the third Friday of
The Awakening Landscape: The Nassau Watercolours the month at COB's Tourism Training Centre at 7pm
of Gaspard Le Marchand Tupper, from the collec- in Room 144 during the academic year. The group pro-
tion of Orjan and Amanda Lindroth @ the National motes the Spanish language and culture in the com-
Art Gallery of the Bahamas. The mid-nineteenth cen- munity.
tury paintings that make up the exhibition are part of
one of the earliest suites of paintings of Nassau and its
environs.
Tupper was a British military officer stationed at Fort Send all your civic and social events to The Tribune via
Charlotte in the 1850s. The works show a pre-modern fax: 328-2398 or e-mail: outthere@tribunemedia.net


Iljty GIN


-~---1-


I r


r






THE TRIBUNE


PAGE 14, FRIDAY, MAY 13, 2005


LOANW


Rt of Agtz

funeral (Ippl

Tel: 323-3800 or 322-1431 n Fax: 328-8852



GERALD'
LIVINGSTON
McDONALD,
54

president of
Brougham
Street, Nassau,
will be held on
Saturday, May
14th, 2005 at
10am at the
Church of God
of Prophecy, Meadow Street. Officiating
will Bishop Solomon Humes, assisted by
Minister Edward Virgil. Interment will follow
in Southern Cemetery, Cowpen &
Spikenard Roads.

Left to cherish his memories are, his wife,
Delores McDonald; one son, Garfield
McDonald; three step sons, Michael,
Desmond and Earl Moore; one step,
daughter, Valerie Wilkinson; step son-in-
law, Edward Wilkinson Sr; step
grandchildren, Edward Jr, Dwayne Jr and
Desmond Jr, Steve, Shellion, Michaela
and Edisha; aunt, Mavis Thompson; uncle,
Harold Thompson and a host of other
relatives and friends including, Flore ie
Pinder and family, Judy Humes and her
children, Bernadette, Toya, AJ, Basil and
Kim and the Church Of God Of Prophecy,
Meadow Street family, the Dean William
Granger Centre, BASH and the Bain Town
Community.

Friends may pay their last respects at Rock
of Ages Funeral Chapel on Wulff Road,
Pinedale on Friday from 10am until 6pm
and on Saturday from 9am at the church
until funeral time.


LAMAR
DESHANNEN
MALIK
FRANCOIS, 2

a resident of Sir
Lynden Pindling
Estate, will be
held at the
Church of God of
.:'- :Prophec y,
Shirley Street,
Saturday, May 14, 2005 at 11am. Officiating
will be Pastor Dale Moss, assisted by other
Ministers. Interment will follow in Fox Hill
Cemetery, Fox Hill Road.

Left to cherish his memories; his mother,
Cherese; father, Wapner; sisters and
brothers, Angel and Deyanier Francois
Jehan and Antinicko Rolle, Chanton,
Ashante Butler; grandparents, W.P.C.
Fredricka Rahming, Phelia Francois,
Clayton Sullivan and Livingston Joseph;
great grandparents, Florence Rahming
and Wilfred Sullivan; aunts, Keleise,
Crystal, Lavern, Phedra, Monica, Bertha
and Tammy; uncles, Simone, Kizzy,
Rashel, Samuel, and Phillip; numerous


grandaunts', Michaelle, Shiela, Ingrid,
Bridgette, Wendy, Collette, Phillipa, Jane
and Yvonne, numerous granduncles,
Andrew, Andae, Gary, Dwight, Devaughn
and Perry; numerous cousins and other
family members and friends.

Friends may pay their last respects at the
Rock of Ages Funeral Chapel, Wulff Road
and Pinedale on Friday from 10am to 6pm
and on Saturday at the church from 10am
until funeral time.


An average of




190 guns are




seized each year


FROM page one
arms and light weapons in the
Caribbean and Latin America.
Mrs Pratt disclosed that last
year, police reported that the
number of people found in
possession of firearms on
"the streets" was on the
increase, comprising 30 per
cent of all firearms seized for
the year. However, firearms


seized from homes followed
closely behind adding up to
27 per cent of the year's total
seizures.
"It is the natural right of
people to want to defend
themselves and the right of
the state to import arms for
legitimate self-defence and
security," said Mrs Pratt. "In
the Bahamas, we know that
the threat from guns in the
hands of criminals convince


PLP chairman:


FNM should


have apologised

FROM page one
Turnquest and the rest of the party were condoning Mr Symon-
ette's behaviour.
However, both Mr Symonette and Mr Turnquest told The Tri-
burne that an apology would not be forthcoming as there was no
malice or disrespect in Mr Symonette's remarks.
Mr Rigby said in his opinion an "honourable man" would
have issued an apology. He added that he is confident howev-
er that the Bahamian people will see Mr Symonette and Mr
Turnquest for what they are.
Mr Symonette had claimed that he was not aware which of his
statements had been insensitive and said if he knew the state-
ment in question, he would better be able to respond.
However, Mr Rigby said Mr Symonette knew exactly what
the statements were and said "he crossed the line."
Mr Rigby said it is a very serious matter. He noted that in pol-
itics there are bound to be differences, but his party expects that
there always would be a level of decency that should not be
reduced.
He said Mr Symonette's characteristics of Prime Minister
Christie were completely in the gutter.



Ienteitk' JHEnral JIimw
BAHAMAS' OLDEST MORTUARY
MARKET STREET P.O. BOX GT-2097 TEL: 323-5782
FUNERA SERVE FO


ordinary law-abiding citizens
to possess guns illegally for
their protection. So the situ-
ation risks becoming one in
which possession of illegal
guns is accepted."
Mrs Pratt said that soci-
eties, especially small soci-
eties, can become used to a
phenomenon of frequency to
the point where that occur-
rence becomes culturally
accepted.
"Acceptance of the illegal
possession of guns in a soci-
ety is bound to give rise to
an unacceptably high level of
violence," she continued. "It
will negatively impact crime
and will set iii train a whole
series of behaviour that will
resonate negatively through-
out our societies and will
eventually do serious damage
to our entire region."
In order to counter the
threat of illegal guns, Mrs
Pratt said the government
must legislate laws and put
adequate administrative pro-
cedures in place to monitor
and control the legitimate
importation of weapons.
"We are by these develop-
ments challenged to fund
educational modalities that
will convey to our people
accurate appreciation of the
effect that the proliferation
of illegal firearms can have
on these small societies and
what is needed at personal
and institutional levels to
counter such negative influ-
ences," said Mrs Pratt.


She added that it is also a
priority to monitor and con-
trol the country's stockpile of
weapons, along with effec-
tively engaging with other
states to ensure that illicit
export, import, transfer and
re-transfer of guns and light
arms does not take place
from within their borders.
"Nowhere in the Caribbean
does small arms and light
weapons not play a signifi-
cant role on the architecture
of law enforcement," she
said. "So we are not deceived.
The problem of the illicit
trade in guns and light.
weapons is a problem in the
Bahamas, and throughout the
Caribbean region."
She noted that one
Caribbean state cannot pos-
sibly afford the resources to
combat problems like illegal
guns, illegal drug interdiction
and other cross-border crimes
alone, "therefore it makes
sense for such problems to be
addressed collaboratively."
"We have long ago learned
that we are stronger and
more effective in the
Caribbean when we speak
through the medium of
CARICOM, with one voice,"
she said. "Over the next two
days, we will be presented
with mechanisms for collabo-
ration and the means by
which we can individually
lend state effort to building
regional and even global
capacity against this prob-
lem."


wishes to express our heartfelt thanks to all relatives,
friends, neighbours and work colleagues for their
overwhelming kindness, prayers, love and support
during the passing of our love one. Your kind
expressions of sympathy in cards, tributes, telephone,
calls, beautiful floral arrangements and visits received
will always be remembered and appreciated. Special
thanks to those who attended the service in Eleuthera.



(lormnwnfealth J unrral IPrnte
1 Independence Drive Phone: 341-4055
D A NA


I


LENORA ELIZABETH
HIGGS, 103

of Miami Florida, and
formerly of Harbour Island,
died at her daughter's
residence in Miami Florida,
Tuesday, May 10th 2005.


Funeral Service will be held
Saturday 21st May, 2005 at St. John's Anglican
Church, Harbour Island at 11am.

She is survived by one son Percival Higgs of
Nassau and Harbour Island; four daughters, Mary
Sawyer of Nassau, Patricia Rolle, Edna Albury
and Lena Alma Canty all of Miami Florida;
numerous grandchildren including Clifford Higgs,
Anthony 'Tony' Higgs, Martin and Fanny Higgs,
Ambrose and Rosie Higgs, Gordon Higgs, Terry
Higgs, Wayde Higgs, Judy Bain, Michelle and
Ray Cumberbatch, Dwight and Florestine Sawyer,
Pandora Sawyer and Charles Sawyer, Zoe Major,
Timothy and Stella Sawyer, Brian and Fay Sawyer,
Alvin Sawyer and Delvin Higgs;
numerous great-grandchildren including, Sharelle
Sawyer, Dawn and Eddie Major, and many other
relatives and friends.


FLOYD
JOHNSON, 32


a resident of #97
Hospital Lane, will be
held at The Church of
God of Prophecy,
Meadow Street, on
Saturday at 2:00 p.m.
Officiating will be Bishop
Solomon Humes.
Interment follows in Old
Trail Cemetery, Old Trail Road.
Cherished and loving memory will forever linger in
the hearts of those he left behind is mother, Barbara
Johnson; sister, Diane Strachan; brother, Jamon
Rudon; sister-in-law, Dominique Rudon; brother-in-
law, Ricardo Strachan; aunt, Stelletha Johnson;
uncles, James, John and Barry Johnson; grand
uncle, Israel Williams; nieces, Ratahaea Rudon and
Destiny Strachan; nephews, Jamon Rudon and
Balmont Thompson; cousins, Sandra, William and
Livingston Seymour Margueritta, Merilyn and
Shamique Johnson, Iva Burns, Barbara, Alexander,
Francis and Marlene and Clyde Bain, Keyo, Ryan
and Latwon Fernander, Vincent, Kimberly, Sarah,
William Jr., Roscoe and Akeem Seymour, Racquel
Rolle, Chrishana Pratt, Cymphony Sands, Laffayette,
Jeremy and Marrissa Johnson and Bianca Braynen,
Tramaine Mckenzie, Teandro Newbold, Eleanor and
Tony Johnson; Zelma, Rose, Phillip, Perry, Patricia,
Pamela, Percy and Prescola Nicholls, Janet Sands,
Daisy Watkins, Mae Walker, Vernell Rolle, Brenda
and Gloria Russell, Dorothy Mckinney, Carolyn Bain,
Betty Mckinney, Lloyd Walker, David, Phillip, Willard,
Israel Harry and Rev. James Williams, Raymond
"Breaker" Rudon, Greg L. Bowe, other relatives and
friends including, Kevin Robinson and family, Tenell
Taylor the Hospital Lane family, King Street family,
Augusta Street family, Rupert Dean Lane family,
The Greenslade family and Janis Roberts and
Leonard Tucker.
Friends may pay their last respects at Demeritte's
Funeral Home, Market Street, from 10:00 a.m. -6:00
p.m. on Friday and on Saturday from 9:00 a.m.-
12:00 noon and at the church from 1:00 p.m. until
service time.






-TH TRBN FRDY MA 13 05 AE1


Up


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Please sign the petition to help the 170 residents of Guana Cay participate in their island development, thank you.
Please fax completed petition to 1-242-365-5163 or log on to www.saveguanacayreef.com


Name


P.O.Box


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Please send your $donations for the cause to Save Guana Cay Reef Assoc. Ltd. P.O. Box F41227, Freeport, Bahamas.


-THE TRIBUNE
0


r


FRIDAY, MAY 13, 2005, PAGE 15





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FRIDAY, MAY 13, 2005


SECTION


business@100jamz.com


Miami Herald Business, Stocks, Analysis, Wall Street


FAMILY
GUARDIAN
Insurance & Investments
to Build a Better Ufe
Telephone 242-393-1023


2005 shaping up


as


'one of most


successful years.



for tourism sector


* By YOLANDA
DELEVEAUX
Senior Business Reporter
HOTEL executives in the
Nassau/Paradise Island area are
optimistic about business
prospects for 2005, as numbers
for the April period and further
into the second quarter support
expectations that this will be the
destination's strongest year.
Stephen Kappeler, regional
director of operations for the
Holiday Inns of the Bahamas,
said that for April, the Holiday
Inn Sunspree All-Inclusive
Resort on Paradise Island had
an occupancy level of 76 per
cent, with an average daily rate
(ADR) of $170, up some 6
points over the same period last
year.
At the Nassau Palm Resort
and Conference Centre on West
Bay Street, the hotel exceeded
projected revenue levels, com-
ing in at a 76 per cent occupan-
cy level and an average daily












THE footprint left by the
Baha Mar Development
Company's $1.2 billion
Cable Beach redevelopment
could extend all the way
from Arawak Cay to close
to Nassau International Air-
port, if the developers exer-
cise options granted to them
in the project's Heads of
Agreement.
Although it will -not be
undertaking any develop-
ment between its Cable
Beach lands and Arawak
Cay, the Heads of Agree-
ment states that Baha Mar
"will consider" locating the
marina for its resort devel-
opment at Arawak Cay as
an alternative site.

Marina
The Heads of Agreement
state: "If Arawak Cay is the
selected site for a marina,
then the Government will
convey a suitable parcel of
land at Arawak Cay for such
use to Baha Mar at a
favourable price and on
terms to be mutually
agreed."
The Tribune understands
that the developers initially
wanted to cut the channel
and develop the marina
basin where the Rock &
Roll used to be on Cable
Beach, but this may not be
acceptable on environmen-
tal grounds, which is why the
Arawak Cay option is likely
to have been included.
As part of the Heads of
Agreement, the Govern-
ment has committed to
"work to improve the ambi-
ence of Arawak Cay".

Redeveloped
And the new golf course,
which will be constructed as
the second one for the rede-
veloped Cable Beach strip,
is slated for "a 400-plus acre
site at Lake Killarney" -
close to the airport, although
'the location, according to
the Heads of Agreement, is
not set in stone.
In relation to the new golf
course, which is to be a joint
venture between Baha Mar
and a yet-to-be-designated
SEE page five


rate of $75.50, both .figures
being improvements over April
2004.
Looking towards the summer,
Mr Kappeler said he anticipated
a phenomenal season, with the
Sunspree property already
expected to beat revenue pro-
jections by some $50,000 for the
May, June and July periods,
compared to last year.

Airline
Crediting the increase in air-
lift coming into the Bahamas as
one factor behind the improved
performance, Mr Kappeler
explained that with more air-
line seats at more competitive
prices, and the services provid-
ed by discount carriers, such as
Song, Spirit and Jet Blue, the
summer period is expected to
be huge.
"This market always needed
cheaper air value and more
competitive air seats. Virgin
Airlines is coming in with a
whole plane to the destination,
that never unloads its passen-
gers anywhere and is promising
committed service with 270-odd
passengers every week that
weren't there before," Mr Kap-
peler added.
"Then there's Fiit, Choice,
the UK's largest wholesale


Another bank

raises Kerzner

EPS and share

price targets

By NEIL HARTNELL
Tribune Business
Editor
ANOTHER Wall Street
investment bank has raised
its share price target for
Kerzner International,
increasing it from $56 to $66,
although it has slightly low-
ered its 2005 second quar-
ter earnings per share (EPS)
estimate from $1 to $0.97
following the company's
guidance.
CIBC World Markets
analysts, William Schmitt
and David Katz, who earlier
this week upgraded the
Atlantis and One & Only
Ocean Club owner to 'Sec-
tor Outperform' from 'Sec-
tor Underperformer', said
the second quarter EPS revi-
sion was made due to the
"large non-renewal group
booking" the company had
given warnings about.
Their downgrade was also
influenced by Kerzner Inter-
national's own estimate that
EPS would c6me in at the
lower end of the $0.93 to $1
Wall Street consensus esti-
mate.
But despite the second
quarter EPS downgrade, Mr
Schmitt and Mr Katz
increased their full-year
2005 EPS estimate for
Kerzner International to
$2.82 from $2.69. The 'duo
also raised their second
quarter and 2005 full-year
operating income predic-
tions to $59 million and
$207.1 million, up from
$56.9 million and $180.3 mil-
lion respectively.
CIBC World Markets also
raised its 2006 EPS and
operating income estimates,
putting them up to $3.13 and
$217.7 million, compared to
previous forecasts of $3.12
and $184.1 million.
Mr Schmitt and Mr Katz
said: "Similar to the past few
quarters, Paradise Island,
the company's core asset,
continues to drive overall
SEE page five


operator, bringing in flights
every two weeks for 14-day
stays. They've secured very
aggressive pricing at a number
of properties. They have a com-
mitment of 100 rooms per night
for six months with us, so there
is not a day we should not be
filled if [First Choice] fills its
share. The Radisson got some
of their business, so did the RIU
and Atlantis picked up some."
Mr Kappeler said First
Choice is expected to add a sec-
ond flight next year, with 95 per
cent of their seats already sold
through to October 2005.
Robert Sands, outgoing gen-
eral manager of the Nassau
Beach Hotel, said the property
finished strongly in April, com-
ing in 10 percentage points over
2004 levels for the same period
in terms of occupancy. For
year-to-date figures, the Cable
Beach property is reporting an
improvement of some 8 points
for the quarter, compared to
2004.

Revenue
Room revenue at the Nassau
Beach for the first quarter was 3
percentage points above what
was experienced in April 2004,
,while;,overall revenue. includ-
ing food and beverage, was up
almost 10 per cent.
Mr Sands said the hotel's per-
formance was very encourage
ing. He added that coming off a
strong first period, the second
quarter was not expected to be
as good, but was still expected
to outperform 2004, with a 7
per cent increase in room rate
and occupancy levels already
seen.
"If the trend continues, not
withstanding the problems we
had in the fourth quarter, 2005
could be one of the most suc-
SEE page four


ABACO Markets yesterday
said it was "on track" to
resume moves towards prof-
itability in the second half of
this year, although its presi-
dent acknowledged the recov-
ery "will be slow going" fol-
lowing a $3.3 million net loss
from continuing operations in
the year to January 31, 2005.
David Thurlow said the
Bahamas International Secu-
rities Exchange (BISX) listed
retailer had been making
"good progress" in executing
its turnaround plan until it was
blown off course by Hurri-
canes Frances and Jeanne,
which took out its Solomon's
Supercentre in Freeport and
will cost the company $ 15 mil-
lion in projected sales in 2005. z
Mr Thurlow said the storms
had dealt the Freeport opera-
tions "a significant blow", with
the insurance deductibles and
other hurricane irrecoverables
having a major impact on the
firm's financial results for the
past fiscal year.
Still, the $3.3 million net
operating loss from continu-
ing operations was only slight-
ly greater than the $3.2 mil-
lion incurred the previous
year.
Apart from the loss of
Solomon's Supercentre in
Freeport, which was closed for


* DAVID THURLOW


three months and had to re-
open with a much smaller sales
space in November 2004, -Mr
Thurlow said Hurricanes
Frances and Jeanne also coin-
cided with the 'back to school'
sales period, its second busiest
selling time in the year.
This further impacted Aba-
co Markets' total group sales,


which fell by 6.6 per cent or
$6.7 million in the year to Jan-
uary 31, 2005, hitting $96.2 mil-
lion. Sales in the food distrib-
ution division Abaco Mar-
kets' core businesses, which
include Solomon's Super-
Centre and Cost Right -
SEE page four


you're pretty sure

college is in his future
Reality Check.
You-never know what's in yours.
His future and yours can be protected
with the right life insurance or investment plan.
Call or log on to www.familyguardian.com
today!






















INSURANCE
COMPANY
& ELEUTHERA CORPORATE CENTRE: EAST BAY STREET, NASSAU P.O. BOX SS 6232


_ I















Bahamian economists weighing





consequences of dropping B-dollar


U By YOLANDA
DELEVEAUX
Senior Business Reporter
BAHAMIAN economists
yesterday took diverging posi-
tions on whether the Bahamas
should drop the B-dollar and
replace it with the US-dollar to
services currency needs.
In an interview with The Tri-
bune, Sir William Allen, the for-
mer FNM finance minister, said
he believed the adoption of the
US-dollar could be a real devel-
opment if the Bahamas pro-
ceeds at it ought to.
As the Government considers
a relaxation of exchange con-
trols, a move supported by the
former finance minister, he said
that in the absence of those con-
trols and based on demand,
consumers would likely look to
store US-dollars, particularly
where a cost is involved or fee
charged by the commercial
banks.


"From the level of demand
and the requirement for ease of
acquiring US dollars, if
[Bahamian consumers] become
indifferent about B-dollars, if
they can they will hold on to,
or store US dollars in their
accounts," Sir William
explained.

Scenario
He said a likely scenario was
that there will always be a cur-
rency called Bahamian dollars,
but there will be no actual B-
dollar notes floating in the econ-
omy or available for purchase,
although Bahamian coins might
still exist in the system.
A similar situation can be
found in Panama, he said,
where only US dollars circulate
in the economy, while Pana-
manian currency exists nomi-
nally.
"I'm not sure it necessarily.
follows, but it seems to me if


there is the complete removal of
exchange control, if Bahamians
are able to store their valuables,
savings, wealth, in any currency
they wish, it seems to me that in
a country where the demand is
overwhelmingly for US curren-
cy, that the Bahamian dollar
would be replaced as a note
issue, but not the nominal cur-
rency.
"You might still value things
in B-dollar terms if it is still on
par," Sir William said.
Responding to comments
made by the governor of the
Central Bank of the Bahamas,
Julian Francis, during the annu-
al general meeting (AGM) of
the Bahamas Chamber of Com-
merce, Sir William said in
regard to the Bahamas Inter-
national Securities Exchange
(BISX), a relaxation of capital
controls could result in
the exchange becoming an
agent for acquiring foreign secu-
rities.
He said that in this way the
Government would be able to
monitor what people purchase,
in the same way commercial
banks currently act as an agent
for the sale of US and foreign
currency.
With an annual cap on the
purchase of foreign securities,
BISX would be responsible for
reporting to the authorities the
amount of foreign securities
purchased by Bahamians if
restrictions were partially
removal.
If exchange control restric-
tions were removed in full,
BISX's survival would depend
on how competitive it could be,
how vibrant the domestic econ-
omy is, and what the movement
of local stocks was like.
Sir William said: "If the mar-
ket stays the same as it is now,
there will be no survival for the
stock exchange there may well
be no role for it."
.Gilbert- Morris, head of- the
Landfall Centre, suggestedthat
instead of doing away with the


B-dollar, the Government
should instead begin to use 10
per cent of the country's for-
eign reserves to purchase gold
and to float a B-dollar currency
backed by gold.
"I'm not sure that the B-dol-
lar as we know it could be
dropped, but such is the
strength of the economy that
we could sustain or maintain a
dollar of our own currency with-
out too much drama," Dr Mor-
ris said.
"Converting to US dollars is
to difficult, but by backing the
B-dollar by gold we can exploit
the 125-year relationship
between the US dollar and gold.
When the dollar goes down,
gold goes up and gold will like-
ly continue to maintain its value.
It's easier to transition to a new
B-dollar backed by gold, than
going to US currency."

Reserves
With the US-dollar inherent-
ly inflationary,'the Bahamas,
since it holds its reserves in US
currency, is put under pressure.
Dr Morris said the Govern-
ment cannot contemplate
switching to that currency if
Bahamians are going to do busi-
ness with China, Latin Ameri-
can countries or other countries
in Asia. The Bahamas would
have to have a currency that
will offset the fall of the US
dollar.
Dr Morris said this is why he
also rejects the notion of a
Caribbean-wide currency, or the
adoption of the euro.
Looking at BISX, Dr Morris
said the stock exchange was not
the right way to begin if the end
was to be the creation of a
domestic capital market. In gen-
eral, he said, it was best to enter
the market with a familiar con-
cept, such as Asue.
With Bahamians already
familiar with the concept of pay-
ig ingito a. general fund over-a
set time before getting a return


SIR WILLIAM ALLEN,
the former FNM finance minister


on a specific date, it would have payments as well.
been wiser to have begun the A bond facility in place would
capital markets with a bond have made it easier to suck
facility rather than a stock mar- money into the system, it would
ket. also have produced credit for
Dr Morris said a bond facility new Bahamian businesses and
would have been more compa- at- sam'etime- allowed for the
rable to an Asue, and would widest possible participation
have had the bonus of interest from the public.


NOTICE
International Busines Companies Act
No. 45 of 2000
GENETIC RESOURCES (LATIN AMERICA) CORPORATION

Notice is hereby given in accordance with Section 137(8) of the
International Business Companies Act, No. 45 of 2000, the
* Dissolution of GENETIC RESOURCES (LATIN AMERICAN)
CORPORATION has been completed, a Certificate of Dissolution
has been issued and the Company has therefore been struck off
the Register. The date of completion of the dissolution was May-
5th, 2005.


am / r


PAGE 2B, FRIDAY, MAY 13, 2005


THE TRIBUNE














Bank invests $3m in latest branch


COMMONWEALTH
Bank is investing $3 million
in the construction of its new
branch in the Golden Gates
Shopping Centre, with the
property scheduled to open
in autumn 2006 and house
about 40 staff.
The bank said the branch is
the first new purpose-built
retail bank to be built in Nas-
sau in the last five years, and
will cover more than 9,000
square feet on some 1.5 acres
of land at the shopping cen-
tre.
Commonwealth Bank said
it was seeking a new branch
location in southern New
Providence in its 2004 annu-
al report, and the Golden
Gates Shopping Centre
branch is likely to fulfil that
requirement.

Traffic
The bank already operates
an Automatic Banking
Machine (ABM) at the Super
Value store in the Golden
Gates Shopping Centre, and
a traffic study had shown
the triangular intersection
that faces the centre has the
highest volume traffic in the
area. Commonwealth Bank
said this factor contributed
to the bank's decision to
build in this location.
"This is a significant day
and a major milestone for
Commonwealth Bank," said
TB Donaldson, its Chairman
as he, William B. Sands Jr,
president and chief executive,
and Franklyn Butler, direc-
tor and chairman of the
Building Committee, turned
the first shovel of dirt.


NO T


COMMONWEALTH Bank has broken ground on a 9,000 square foot state-of-the-art branch with drive-through banking to be built on 1.5 acres in the Golden
Gates Shopping Centre. The new branch is expected to open in late 2006.
Pictured at the groundbreaking are, from L to R: Craig Symonette, director; lan Jennings, vice-president and chief financial officer; and with shovels turning the first:
soil, Franklyn Butler, director and head of the Premises Committee; TBDonaldson, chairman; and William B. Sands Jr, president and chief executive. Directors Trevor!
Thompson and Rupert Roberts Jr. are to the right.
(Photo by Gus Roberts)

"It represents the first new in New Providence in five services for Bahamians. tomer convenience, includ- ping Centre will take Com-1
purpose-built bank building years. Even more important- "The Golden Gates area ing drive through ABMs monwealth Bank's branch!
ly, our groundbreaking today has grown .into a major pop- (automated ban k ing network on New Providence!
symbolises Commonwealth ulation centre. We want to machines)." to 10. The last branch opened,
SBank's confidence in the take banking to the people. The Golden Gates Shop- was on Wulff Road in 2000.
I -_f economy and our commit- This branch will feature


NOTICE is hereby given that TEOGEN JOSEPH, COCONUT
GROVE, NASSAU, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 6TH day of MAY, 2005 to the Minister responsible
for Nationality and Citizenship,. RP.O.Box N- 7147, Nassau,
Bahamas.




NURSING CAREER OPPORTUNITY

Plastic Surgery office is seeking a full time

REGISTERED NURSE

with Operating Room experience.

Great benefits including assistance in funding for specialized training.
Interested persons please fax resume to 328-6479


















Bally Total Fitness


Previous management experience needed with
minimum 2 years experience as sales manager &
minimum 1 year experience as assistant manager
in fitness facility.

Experience opening new fitness facility.

Extensive computer knowledge, inc, database and
network management

Motivational training experience.,

Minimum 2 years as a training instructor.

Training in customer service, people management
& management skills mandatory in the past 2 years.

Extensive knowledge in fitness training is mandatory.

The ability to motivate and manage a sales staff.

Excellent organizational skills.

College or University degree in business, marketing,
communications, or related field.

SCPR certification preferred.


ment to our customers and
shareholders to be the first
name in personal banking


state-of-the-art technology,
spacious and modern interior
and every amenity for cus-


TEACHING VACANCIES

Temple Christian Elementary School invites applications
from qualified teachers for the 2005-2006 school year for:

Spanish Teacher (Grades 1-6)
Upper Elementary Teachers (Grades 4-6)
Art Teacher

Applicant must: .

A. Be a bom-again practicing Christian who is willing
to subscribe to the Statement of Faith of Temple
Christian Schools.

B. Have an Associates and or Bachelor's Degree
in Education from a recognized College or
University in the area of specialization.

C. Have a valid Teacher's Certificate or Diploma.

D. Be willing to contribute to the school's extra
curricular program.

Application must be made in writing with a full Curriculum
Vitae, a recent coloured photograph and three references
should be sent to:

The Principal
Temple Christian Schools
Collins Avenue
P.O. Box N-1566
Nassau, Bahamas


BIN E -Co ina.
Financial Advisors Ltd.
Prioing Informatlon A* Of: "
12 May 2005

wk-H 52-LowSymbol Previous Close Todays Close Change Daily Vol. EPS $ Div $ P Yield
1.20 0.95 Abaco Markets 0.95 0.95 0.00 -0.219 0.000 N/M 0.00%
8.50 8.00 Bahamas Property Fund 8.50 8.50 0.00 1.328 0.320 6.4 3.76%
6.36 5.55 Bank of Bahamas 6.36 ;. 6.36 0.00 0.152 0.330 11.6 5.23%
0.85 0.82 Benchmark 0.85 0.85 0.00 -0.057 0.000 N/M 0.00%
1.80 1.40 Bahamas Waste 1.50 1.50 0.00 0.122 0.000 12.3 0.00%
1.05 0.87 Fidelity Bank 1.05 1.05 0.00 0.007 0.040 14.2 3.81%
8.32 6.76 Cable Bahamas 8.32 8.32 0.00 0.589 0.240 .14.1 2.88%
2.20 1.52 Colina Holdings 2.20 2.20 0.00 0.259 0.060 8.5 2.73%
8.49 6.75 Commonwealth Bank 8.49 8.49 0.00 480 0.673 0.410 12.6 4.83%
1.79 0.36 Doctor's Hospital 1.79 1.79 0.00 0.452 0.000 4.0 0.00%
4.02 3.13 Famguard 4.02 4.02 0.00 0.406 0.240 9.9 5.97%
10.46 8.39 Fnco 10.46 10.46 0.00 0.662 0.490 15.8 4.68%
8.46 6.60 FirstCaribbean 8.46 8.46 0.00 0.591 0.330 14.3 3.90%
8.60 8.31 Focol 8.35 8.35 0.00 0.710 0.500 11.7 5.99%
1.99 1.27 Freeport Concrete 1.27 1.27 0.00 0.082 0.000 15.5 0.00%
10.38 9.50 ICD Utilities 9.60 9.60 0.00 0.818 0.405 11.7 4.20%
8.25 8.10 J. S. Johnson 8.22 8.22 0.00 0.561 0.550 14.7 6.81%
6.69 4.36 Kerzner International BDRs 5.83 ' 5.86 0.03 0.184 0.000 31.7 0.00%
10.00 10.00 Premier Real Estate 10.00 1' 0 0.00 1.979 0.350 51 3,50%
52wk-Hi 52wk-Low SybOl" Bid S ".` ..A. LtPrice Weekl Vo l.,, S id
13.00 12.50 Bahamas Supermarkets ,12.25 25 1.00 1.488 .0.960 .9.1 7.25%
10.14 10.00 Caribbean Crossings (Pref) 10.00 35 10.00 0.000 0.800. N'M. 7.80%
0.0 0.40RND'Holdlngs 0.29 .6.6 4 0.00 -0.103 0.000 NM 0.00%
43.00 28.00 ABDAB 4 1.00 '41.00 2.220 0.000 19.4' 0.00
16.00 "13.00 Bahamas Supermarkets 130:01.:0': 1 1.105 0.810 14.6 6.93%
0.60 035 RND Holdings ... 0.95 -0.103 0 .Ob N/0M 0.
52wk-HI 52wk-Low Fund Name NAV Last 12 Months Div $ Yeld
1.2164, 1.1609 Colina Money Market Fund 1.216402*
2.2420 1.9423 Fidelity Bahamas G & I Fund 2.2420*** '
10.3539 10.0000 Fidelity Prime Income Fund 10.3539**** i
2.2214 2.0941 Colina MSI Preferred Fund 2.221401**
1.0931 1.0320 Colina Bond Fund 1.093141****

BISX ALL SHARE INDEX 19 Dec 02 = 1.000.00 YIELD last 12 month dividends divided by closing price
52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and FIdelilt
52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Collna and fidelity
Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price
Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week
Change Change in closing price from day to da EPS $ A company's reported eamings per share for the last 12 mthe
Dally Vol. Number of total shares traded today NAV Net Asset Value
DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful
P/E Closing price divided by the last 12 month eamings FINDEX The Fidelity Bahamas Stock Index. January 1. 1994 100
** AS AT MAR. 31, 2005/ **** AS AT FEB. 28, 2005
* AS AT MAR. 24, 20051*** AS AT APR. 30, 2005/ **** AS AT APR. 30, 2005
!met


NOTICE
NOTICE is hereby given that JACQUELINE JOSEPH,
WILLIAMS COURT, APT #2, NASSAU, BAHAMAS, is
applying to the Minister responsible f6r Nationality aid
Citizenship, for registration/naturalization as a citizen of The,
Bahamas, and that any person who knows any reason Why
registration/naturalizatiorn should nrotbe granted, should send
a written and signed statement of the facts'Within twenty-
eight days from the 6TH day of MAY, 2005 to the Minister
responsible for Nationality and Citizenship, PO.Box N-7147,
Nassau, Bahamas.


FRIDAY, MAY 13, 2005, PAGE 3B


THE TRIBUNE













Abaco Markets 'on track' for profits



return despite $3.3m operating loss


FROM page one
dropped by $7 million to $87
million, indicating that sales at
the Caribbean Franchise divi-
sion Domino's Pizza and Dairy
Queen rose by $300,000 year-
on-year.
Mr Thurlow added that
Freeport-based Thompson
Wholesale, which was closed
for a month last year in the
aftermath of the hurricanes,
had seen its wholesale busi-
ness substantially reduced
because many small business-
es and restaurants that it
served had been forced to
close.
"The group was not only
impacted by the loss of sales at
those locations but also from
r lost 'back to school' sales
riod, our second largest in
Se year, due to the busy hur-
cane season," explained Mr.
hurlow. "Our results will
continuee to be impacted by
Se storms as sales will be
tduced by an estimated $15
illion in 2005."
Abaco Markets had more
ositive news to report on its
et margins, which increased
y $0.6 million despite the
les decline. As a percentage


of sales, net margins grew
from 27.1 per cent to 29.7 per
cent.
The margin improvement
was attributed to improved
centralised buying and the
addition of organic and pri-
vate label products, giving cus-
tomers at its retail formats
more choice.
But operating expenses also
increased by $482,000,
growing as a proportion of
sales
Profit
The retailer said net ope -
ating profitwas $0.2 million
compared to break-eveni for
the year before, while its debt
reduction target agreed with
its bankers, Royal Bank of
Canada, remained ahead of
schedule.
Abaco Markets said ,its
bank debt was reduced by $3.8
million in the year to January
31, with some $13.9 million in
debt outstanding at year-
end.
Meanwhile, Mr Thurlow
said the figures for the past
financial year were also
impacted by the one-time
charge of $968,000 relating to


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, MALIK RAHMING, of
Golden Gates #1, P.O. Box SB-52702, Nassau, Bahamas,
intend to change my name to MALIK THOMPSON. If there
are any objections to this change of name by Deed Poll, you.
may write such objections to the Chief Passport Officer,
P.O.Box N-742, Nassau, Bahamas no later than thirty (30)
days after the date of publication of this notice..














Legal Notice

NOTICE

JEAN MERMOZ LIMITED

NOTICE IS HEREBY GIVEN as follows:
(a) JEAN MERMOZ LIMITED is in voluntary dissolution under the
provisions of Section 137 (4) of the International Business Companies
Act 2000.
(b). The dissolution of the said company commenced on May 11, 2005
when the Articles of Dissolution were submitted to and registered by
the Registrar General.
(c) The Liquidator of the said company is Verduro Associated Ltd., Pasea
Estate, Road Town, Tortola, BVI.
Dated this 13th day of May, A.D., 2005.

Verduro Associated Ltd.
Liquidator



J.S. JOHNSON & CO. LTD.

It comes with every policy.


J.S. JOHNSON &
COMPANY LIMITED


NOTICE TO

SHAREHOLDERS'


J.S. Johnson and Company Limited hereby,
notifies all its shareholders that based on
unaudited results for the quarter ended 31st
March, 2005 the Board of Directors has
declared an interim dividend of fourteen cents
(140) per ordinary share to be paid on 25th
May, 2005 to all shareholders of record as of
19th May, 2005.
*B '' ... .! I


the Dunkin' Donuts invest-
ment, plus operating losses
incurred in closing down,
remodelling and re-launching
its Turks & Caicos business as
a Cost Right store.
Abaco Markets acknowl-
edged that its projections for
the Turks & Caicos operation
had been "overly optimistic",
forcing it to right-size an oper-
ation that had excess staff and
inventory.
Mr Thurlow said: "Cost
Right Turks, after these ini-
tial missteps, is now record-
ing positive sales trends and
we are pleased with the
progress we are making
there." "
The retailer has also entered
an April 2005 agreement to
sell the Dunkin' Donuts fran-
chise, and is working to com-
plete the deal, which is sub-
ject to approval from the fran-
chisor, within 60 days.
Mr Thurlow said the hurri-
canes had struck at a critical
point in Abaco Markets' turn-
around, forcing the company
to change strategy and redi-
rect resources.
He added: ""Our road to
recovery will be slow going as
we rebuild from a smaller rev-
enue base and pay down a
heavy debt load.
"In 2005, we plan to com-
plete the store redevelopment
programme in the first half of
the year and thereafter focus
on building same store sales,


regain lost market share and
generate operational cash
flow. We will then rebuild
'Solomon's on the Mall' in
Freeport in the second half of
the year with a target re-open-
ing date of June 2006.
"Although 2004 has been


largely defined by the impact
of the storms on our turn-
around, it is about much more.
It is about Abaco Markets'
resilience in the face of
tremendous challenge and our
ability to adapt reflects how
far the company has matured


FROM plage one
cessfulyears in tourism this country has every
witnessed," Mr Sands said.
Like Other industry executives, Mr Sands
credited increased airlift as a major factor
behind the strong showing.
Other reasons were that Europe remained
expensive compared to the US and the
Caribbean, the quality of the Bahamas' product
and its proximity to the US, the growing
level of co-operation between the private and
public sector in terms of marketing, and
the presence of strong brands in the
destination.
Michael Sansbury, operations manager and
executive vice-president of Baha Mar Devel-
opment Company, said April was a very positive
month for both the Wyndham Nassau Resort
and the Radisson Cable Beach Resort, with
both properties expected to have a good May as
well. He added that June and July were also
looking very strong, with initial indications


NOTICE
NOTICE is hereby given that ANTHONY NELSON OF #18
MONTEL HEIGHTS, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/ naturalization
should not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 11TH day of MAY,
2006 to the Minister responsible for Nationality and Citizenship,
P.O.Box N-7147, Nassau, Bahamas.



NOTICE
NOTICE is hereby given that UNDA MARGUERITE, P.O.BOX-
4929, NASSAU, BAHAMAS, is applying to the Minister
responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and
that any person who knows any reason why registration/
naturalization should not be granted, should send a written
and signed statement of the facts within twenty-eight days
from the 6TH day of MAY, 2005 to the Minister responsible
for Nationality and Citizenship, P.O.Box N- 7147; Nassau,
Bahamas. .




COMMODITIES / DERI NATIVES

Do you have any experience in trading or sales
in commodities and / or derivatives ?

Our company is seeking a suitable candidate
for immediate employment.

Please send or fax resume to:

P O Box N-3927

394-6841

REGULATED BY THE SECURITIES COMMISSION OF
THE BAHAMAS

LEGAL NOTICE



NOTICE

PUNCHBAY HOLDINGS LTD.
VOLUNTARY LIQUIDATED
Notice is hereby given that in accordance with Section
137 of the International Business Companies Act 2000 the Dissolution
of PUNCHBAY HOLDINGS LTD., has.been completed, a
Certificate of Dissolution has been issued and the Company has
therefore been struck off the Register of Companies.

The Date of Completion of dissolution was 14th April


to meet the challenges ahead.
While our turnaround has
been delayed by these set-
backs, we are meeting these
challenges and are on track to
resume the course to prof-
itability in the second half of
2005."


projecting considerable growth over 2004 num-
bers.
At the British Colonial Hilton, general man-
ager Michael Hooper said for May, the hotel
was expected to come in around the low 80s in
terms of occupancy levels, compared to 79 per
cent for 2004. He added that June looked to be
slightly stronger than last year, adding that the
average room rate grew at. least 10 to 15 per cent
year-on-year.

Strong
The month of April was strong for the British
Colonial Hilton, which started the second quar-
ter at a 92 per cent occupancy rate, with an
average room rate that was up about 20 per
cent on last year.
Overall revenue for the Bay Street property
increased by 30 per cent in April, with year-
to- date figures showing a 15 per cent improve-
ment when compared to the same period last
year.


PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, KATHYANN LOUIS,
of Baillou Hill Road, PO.Box N-7101, Nassau, Bahamas,
intend to change my name to KATHYANN LUCIEN. If
there are any objections to this change of name by Deed
Poll, you may writesuch objections to the Chief Passport
Officer, PO.Box N-742, Nassau, Bahamas no later than
thirty (30) days after the date of publication of this notice.


LEGAL NOTICE

NOTICE

PENINSULA PAPAGAYO

VENTURES LTD.

Notice is hereby given that in accordance with Section
137 (4) of the International Business Companies Act
(No. 45 of 2000), PENINSULA PAPAGAYO
VENTURES LTD., has been dissolved and struck off
the Register accordaing to the Certificate of Dissolution
issued by the Registrar General on the 4th day of May,
2005.

Alexander Ruiz Cubillo,
domiciled at Terraforte Building,
Escazu, San Jose, Costa Rica.
Liquidator


mVt m





Ful and Part Time Positions
Requirements.
High School Graduate
Clean Police Record
Good Oral and Written Skills
Prior experience in Criminal/security Field or Study
Courses in related Criminal/Security Field.
Good Fit Physical Condition an asset.
Candidate must be able to work any shift. This position may
be open for permanent placement.
Salary to be discussed during interview.
Interested persons should fill out applications in person and
bring copy of a valid police record, National Insurance Card
and passport to the Mall at Marathon Management Offices.


No phone calls please.


2005,hapaingup


-- -;


PAGE 4B, FRIDAY, MAY 13, 2005


THE TRIBUNE








THE TRIBUNE


FRIDAY, MAY 13, 2005, PAGE 5B-


FROM page one

performance. Despite what
appears to be the loss of a one-
time group booking for second
quarter 2005, demand remains
relatively healthy as evidenced


Kerzner

by a 4 per cent increase in aver-
age daily room rate (ADR) and
occupancy levels just below 90
per cent.


"We believe management's
pursuit of additional lower-fare
flight options into the
Bahamas should directly lead
to additional demand for the
property.
"We continue to believe that


the current set-up for Phase
III, which will now include a
600-room all suite hotel, 500-
room condo-hotel and an addi-
tional 88 Ocean Club units ,
should position Atlantis to
capture expected growth at the
property over the next few
years."
The CIBC World Markets
duo added: "We maintain a
positive outlook on the funda-
mentals of Atlantis, and are
encouraged by the company's
prospective international
growth opportunities in the
Middle East, North Africa and
potentially in Singapore.
"These projects will help
diversify the company's prop-
erty portfolio, which is pre-
dominantly comprised of
Atlantis, Paradise Island, in
the Bahamas.
"We remain positive on the
future for Kerzner Interna-
tional, as the company contin-
ues to strategically grow Par-
adise Island while selectively
pursuing international growth
opportunities."
Mr Schmitt and Mr Katz
forecast that the Phase III
expansion on Paradise Island
would add $4 in value to
Kerzner International's share


price.
Reviewing Kerzner Interna-
tiYnal's first quarter results,
, the;CIBC World Markets pair
said average daily room rate
improvements of 4 per cent
and 12.9 per cent at Atlantis
Vad the One & Only Ocean
Iub, respectively, had gener-


Baha Mar plan

FROM page one Immigration and the developers with regard to
procedures and timetables for issuing work
government entity, the Heads of Agreement The Heads of Agreement also provides
grant the Cable Beach developers the option to Baha Mar with the option of allowing Philip
buy out the Government's interest within 20 Ruffin's Ruffin Leisure Industries to continue
years after the course is completed, "at a price to operate the Crystal Palace Casino, under a
equal to the then fair market value of such new licence crystal Palace Casino, under a
interests of the Government". The Government also has discretion to
Apart from Government's ownership stake allow a.Baha Mar affiliate to "develop its own
in the joint venture, Baha Mar has also been casino brand" if it decides not to find anoper-
granted the option to purchase all land for acting partner, provided that wordi' class"
the golf course some 103 acres leased to management and programmes rtha the casi-
it for 99 years by government agencies. The no. The Government also has the option to
agencies involved include the Water & Sew- grant Baha Mar an extension to the deadlines
erage Corporation and the Bahamas Elec- for finding casino and hotel operating partners.
tricity Corporation (BEC). The attractions and amenities contemplated
The Heads of Agreement also provide for by the Cable Beach Heads of Agreement,
Baha Mar to receive further investment mincen- such as a water park, eco-zone, pier, shows
tives if it adds future expansion phases to and spectacles, will be available to both
Cable Beach, while a "specific protocol" will Bahamians and cruise ship passengers.
be established between the Department of


ated 7.5 per cent and 19.9 per
cent rises in revenue per avail-
able room (RevPAR).
Kerzner International's
operating income margin grew
by 380 basis points from 34.4
per cent to 38.2 per cent, beat-
ing CIBC World Markets' own
forecast of 36.3 per cent.


largely accounted for the
declines against Benchmark
(Bahamas) 2004 comparative.
Benchmark (Bahamas) said
revenues for the first quarter
were up 48 per cent against
2004, while expenses rose by 8
per cent.
Its Alliance Investment
Management subsidiary gen-
erated 52 per cent or $127,049
of net income, with Bench-
mark adding 47 per cent or
$116,392 and Benchmark
Advisors $1,583.
The net unrealised appre-
ciation of Benchmark
(Bahamas) investment port-
folio was $218,716.


ITEM 8 FINANCIAL STATEMENTS AND
SUPPLEMENTARY DATA

REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM

To the Board ofDirectors and Shareholders of
The PNC Financial Services Group, Inc.
Pittsburgh, Pennsylvania

We have audited the accompanying consolidated balance sheet
of The PNC Financial Services Group, Inc. and subsidiaries
("the Company") as of December 31, 2004 and 2003, and the
related consolidated statements of income, shareholders'
equity, and cash flows for each of the three years in the period
ended December 31, 2004. These financial statements are the
responsibility of the Company's management. Our
responsibility is to express an opinion on these financial
statements based on our audits.

We conducted our audits in accordance with the standards of
the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit
Salsoincludes assessing the espntng principles usedand ., ,
significant estimates made by management, as well as ""'": "',
evaluating the overall financial statement presentation. We
believe that our audits pro.ide'a reasonable basis for oi.. .. .......... ......... ..
opinion.

In our opinion, such consolidated financial statements present
fairly, in all material respects, the financial position of The .
PNC Financial Services Group, Inc. and subsidiaries as of
December 31, 2004 and 2003, and the results of their
operations and their cash flows for each of the three years in
the period ended December 31, 2004, in conformity with .
accounting principles generally accepted in the United States
of America.

We have also audited, in accordance with the standards of the
Public Company Accounting Oversight Board (United States),
the effectiveness of the Comipany's internal control over
financial reporting as of December 31, 2004, based on the
criteria established in "Internal Control-Integrated Framework"
issued by the Committee of Sponsoring Organizations of the
Treadway Commission and our report dated February 28, 2005
expressed an unqualified opinion on management's assessment
of the effectiveness of the Company's internal control over
financial reporting and an unqualified opinion on the
effectiveness of the Company's internal control over financial
reporting.


/s/Deloitte and Touche LLP
February 28, 2005

CONSOLIDATED BALANCE SHEET
THE PNC FINANCIAL SERVICES GROUP, INC.

December 31
2004 2003

$3,230 $2,968
elements 1,635 1,876
eluding trading securities 1,848 720
1,670 1,400
held to maturity 16,761 15,690
f$902 and $1,009 43,495 36,303
osses (607) (632)
42,888 35,671
3,001 2,390
354 317
8,336 7,136
$79,723 $68,168


Deposits
Noninterest-bearing $12,915
Interest-bearing 40,354
Total deposits 53,269
Borrowed funds
Federal funds purchased 219
Repurchase agreements 1,376
Bank notes and senior debt 2,383
Subordinated debt 4,050
Commercial paper 2,251
Other borrowed funds 1,685
Total borrowed funds 11,964
Allowance for unfunded loan commitments and letters of credit 75
Accrued expenses 2,406
Other 4,032
Total liabilities 71,746
Minority and noncontrolling interests in consolidated entities 504
SHAREHOLDERS' EQUITY
Preferred stock (.)
Common stock $5 par value
Authorized 800 shares
Issued 353 shares 1,764
Capital surplus 1,265
Retained earnings 8,273
Deferred compensation expense (51)
Accumulated other'comprehensive (loss) income (54)
Common stock held in treasury at cost: 70 and 76 shares (3,724)
Total shareholders' equity 7,473
Total liabilities, minority and noncontrolling interests, and shareholders' equity 579,723
(s) Lest than 5.5 million at each date.
See accompanying Notes To Coasolidlled Finucial Statements.


$11,505
33,736
45,241
169
1,081
2,823
3,729
2,226
.1,425
11,453
91
2,275
2,001
61,061
462



1,764
1,108
7,642
(29)
60
(3,900)
6,645
$68,168


NOTE 3 ACQUISITIONS

SSRM HOLDINGS INC.
Effective January 31, 2005, BlackRock acquired SSRM
Holdings, Inc. ("SSRM"), the .holding company of State
Street Research & Management Company and SSR Realty
Advisors Inc., from MetLife, Inc. SSRM, through its
subsidiaries, actively manages stock, bond, balanced and real
estate portfolios for both institutional and individual investors
with approximately $55 billion in assets under management .
at December 31, 2004. At closing, MetLife, Inc. received
approximately $285 million in cash and approximately
550,000 shares of BlackRock restricted class A common
stock. Additional cash consideration, which could increase
the purchase price by up to 25%, may be paid over five years
contingent oh. certain measures.

In January 2005, BlackRock issued a bridge promissory note
for $150 million, using the proceeds to facilitate the SSRM
acquisition. Interest on this note was payable at maturity at an
annual rate of 2.875%. In February 2005, BlackRock issued
$250 million aggregate principal amount of convertible
debentures. BlackRock used a portion of the net proceeds
from this issuance to retire the bridge promissory note.

See Note, 3 r S'quent Even Evets for furtheriinformation
regarding h' ebiruaary 2r005 convertible debenture issuance
, ; a fe < rv 2l05trn afr a k froinJPNC Bank,
'-'r'-. ,p. to s n ra imacftont our first



RIGGS NA,1ONAL. CbRPOKA.TIO '
On Febri'ary'10; 2005, we entered into an amended and
restated agreement to acquire Riggs National Corporation
("Riggs"), a Washington, D.C. based banking company,
replacing the original:ancqi itfion agreement entered into July
16, 2004. Riggs has assets of approximately $5.9 billion and
provides oinmmercial and retail banking services through 51
branches in the metropolitan Washington, D.C. area. The
transaction will give us a substantial presence on which to
build a market leading franchise in the affluent Washington
metropolitan area. The total consideration under the amended
and restated agreement is comprised of a fixed number of
approximately 6.4 million shares of PNC common stock and
$286 million in cash, subject to adjustment. The merger is
subject to closing conditions including, among others, receipt
Sof egulatory approvals and waivers and approval of the Rigg
shareholders. Our Current Reports on Form 8-K dated July 1(
2004, July 22, 2004 and February 10, 2005 provide additiona
information on this pending acquisition. The Amended and
Restated Agreement and Plan of Merger for this transaction
included as Exhibit 10.31 to this Report.

AVIATION FINANCE GROUP
On September 1, 2004, we acquired the business of the
Aviation Finance Group, LLC ("AFG"), an Idaho-based
company that specializes in loans to finance private aircraft.
The purchase agreement calls for a contingent payment at th
end of the fifth anniversary date that may be due if certain Ic
balances and profitability targets are exceeded on a cumulati
five-year basis.

UNITED NATIONAL BANCORP
We completed our acquisition of United National Bancorp,
Inc. ("United National") on January 1, 2004 by merging
United National with and into our subsidiary, PNC Bancorp
Inc. United National shareholders received an aggregate of
approximately $321 million in cash and 6.6 million shares c
our common stock valued at $360 million. As a result of tht
acquisition, we added $3.7 billion of assets, including $.6
billion of goodwill, $2.3 billion of deposits, $1.0 billion of
borrowed funds and $.4 billion of shareholders' equity to o01
Average Consolidated Balance Sheet for the quarter ended
March 31, 2004.


BENCHMARK
(Bahamas) generated net
profits of just over $245,000
or $0.05 per share, compared
to $317,462 or $0.06 per share
last year, in the 2005 first
quarter.
The BISX-listed company
sajd it achieved this despite a
$75,397 loss on its investment
in John S George Holdings,
something that Benchmark
attributed to "challenges"
integrating management
processes and inventory.
However, it added that the
retailer's 2005 performance
was expected to be positive.
The loss on John S George


ANSBACHER


Ansbacher (Bahamas) Limited
Ansbacher House
PO Box N-7768
Bank Lane
Nassau BAHAMAS
Telephone +1 242 322 1161
Facsimile +1 242 326 5020
502 136801
SWIFT BITCBSNS
nlchelle.bethel]ansbacher.bs


In million, except parvalue
ASSETS
Cash and due from banks
Federal funds sold and resale agr
Othershort -term investments, in
Loans held for sale
Securities available for sale and h
Loans, net of unearned income of
Allowance for loan and lease l
Net loans
Goodwill
Other intangible assets
Other
Total assets


BUSINESS


I I


John SGeorg dent


I -








PAGE 6B, FRIDAY, MAY 13, 2005


FRIDAY EVENING MAY 13, 2005
S7:30 8:00 8:30 9:00 9:30 10:00 110:30
Issues Round- Washington Wall Street Week McLaughlin Journal Editorial NOW (N) New Florida
B WPBT table discussion. Week (N) f With Fortune (N) Group (N) .Rert (N) (CC)
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The Insider (N) Elvis by the Presleys Priscilla Beaulieu Presley and Lisa Marie Presley NUMB3RS "Man Hunt" Don tracks
* WFOR A (CC) talk about their lives with the king of rock 'n' roll and share home movies two violent felons who have es-
and photographs from the Presley estate archives. (N) caped from a prison bus.
Access Holly- Dateline NBC A (CC) Law & Order: Trial by Jury "The
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Jeopardy! (N) America's Funniest Home Videos (Season Finale) The three $100,000 20120 (CC)
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B ET BACK IN THE DAY (2004, Drama) Ja Rule, Ving Rhames, Pam Grier. An old friend lures a Club Comic View
BET I young man back to a life of crime.
Coronation *** PRIVATE BENJAMIN (1980) Goldie Hawn, Eileen Brennan. A brat The National (CC)
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COM Presents "Rene Comic. (CC) Josh Sneed; Car- Presents Rudy Presents Todd Presents God-
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That's So Raven * THE CHEETAH GIRLS (2003, Comedy-Drama) Raven, Lynn Whit- American Drag- The Suite Life of
DISN (N) (CC) field, Adrienne Bailon. Four teens aim to take the world by storm with their on: Jake Long Zack & Cody
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ESPN NBA Basketball Conference Semifinal Game 3 -- Teams TBA. (Live) 11 (CC) NBA Basketball Conference Semifi-
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Daily Mass: Our The World Over Eucharistic Procession and Rosary From the Cotton EWTN Book-
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LIFE Sela Ward, Stephanie Faracy. Four women return to tery, Jane Curtin. A spoiled actress tries a life without fame's trappings.
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S (:00 Hardball Countdown With Keith Olber- MSNBC Inv.: Lock Up: Inside Scarborough Country
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TBS Loves Raymond One With Joey's startling revela- Loves Raymond ter's married to "Emission Impos- Braves at
'Pet Cemetery" New Brain" A tion. (CC) Ray's plan fails. the mob. (CC) sible",(CC) Dodgers
S :00) In a Fix Clean Sweep "Portrait of a Clutter What Not to Wear 'Laura" New Sheer Dallas "Best Friends' Billy
TLC Plantinum Ham- Bug" A house is forgotten. (N) (CC) clothes. (CC) encounters trouble. (N)
mer'
(:00) Law & Or- Law & Order Stone and Kincaid in- Law & Order Briscoe and Logan in- Law & Order Stone has a court bat-
TNT der "Conduct Un- vestigate further when a man is ac- vestigate when the son of Schiff's tie when a judge becomes obsessed
becoming" quitted of murder. (CC) '(DVS) friend is kidnapped. A with a former lover. AC
Tr ON i Hi Hi Puffy Ami Aloha, Scooby-Doo The gang travels to Hawaii for a Atomic Betty Codename: Kids Home for Imagi-
II N Yumi surfing contest. (N) Next
TV5 Thalassa"Couleursde mer: la mer Rouge" Histoire de la mer Rouge. Pol Pot et les Khmers rouges TV5 Le Journal
(:00) PM Edi- Storm Stories Storm Stories Evening Edition (CC)
TWC tion (CC) (CC) (CC)_____________________
(:00) Inocente de Apuesta por un Amor La Madrastra Hospital El Par de Ases
UNIV n Paisa
(:00) Monk "Mr. Law & Order: Special Victims Unit Law & Order: Special Victims Unit Kojak Bombings in Kojak's precinct
USA Monk and the An actress is suspected of having A suspect rapes and murders two might be linked to a jazz singer's
Kid" (CC) an affair with a teen. (CC) women in Central Park. stalker. (CC)
VH1 Shocking Mo- *** METALLICA: SOME KIND OF MONSTER (2004, Documentary) Turmoil surrounds the band while
VH1 ments in Rock recording "St. Anger." ,l
Home Improve- * THE MAN IN THE IRON MASK (1998, Adventure) Leonardo Di- WGN News at Nine A (CC)
WGN ment Talk to Me" Caprio, Jeremy Irons, John Malkovich. Ex-musketeers attempt a blood-
C, (CC) less coup against their king. n (CC)
S Everybody What I Like Reba Reba ques- Reba Reba hires Living With Fran WB11 News at Ten With Kaity
WPIX Loves Raymond About You (N) tions her decl- Van as her assis- "Carnage Ride" Tong, Jim Watkins, Sal Marchlano
C9 (CC) C (CC) sion. (CC) tant. (N) (CC) & Mr. G (CC)
Red Sox Star Trek: Enterprise Archer must Star Trek: Enterprise 'These Are MLB Baseball Boston Red Sox at
WSBK Pregame stop a radical human isolationist the Voyages..." (Series Finale) (N) Seattle Mariners. From SAFECO
who threatens violence. (N) C (CC) Field in Seattle. (Live)
(6:45) ***X2: X-MEN UNITED (2003, Science Fic- Costas NOW (Series Premiere) Deadwood "Advances, None Mirac-
HBO-E on) Patrick Stewart, lan McKellen. A right-wing mili- Baseball player Tony Conigliaro. (N) ulous" Cochran delivers a dire prog-
tarist pursues the mutants. C 'PG-13' (CC) C (CC) nosis. C (CC)
S(6:15)*** ***'x LETHAL WEAPON 2 (1989, Action) Mel Gibson, DannyGlover, Boxing 2004 Mayorga vs.
HBO-P OWNING MA- Joe Pesci. Riggs and Murtaugh battle drug-smuggling diplomats. C 'R' Trinidad/Mosley vs. Wright I. (N) C
HOWNY (2003) (CC) (CC)


(6:00) *** ** THE PALLBEARER (1996, Comedy) David (:45) *** X2: X-MEN UNITED (2003, Science Fic-
HBO-W THAT THING Schwimmer. A man's life is complicated by a forgotten tion) Patrick Stewart, Hugh Jackman. A right-wing mili-
YOU DOI (1996) friend's death. A 'PG-13' (CC) Itarist pursues the mutants. Cl 'PG-13' (CC)
(:00) * EMMA (1996, Comedy) Gwyneth Paltrow, Six Feet Under Agroup of familiar * *s MYSTIC RIVER (2003,
HBO-S Jeremy Northam. A young woman's romantic med- relatives and friends are united in Crime Drama) Sean Penn, Tim Rob-
dlings prove disastrous. A 'PG' (CC) mourning. n (CC) bins. l 'R' (CC)
(6:20) **x ** GOTHIKA (2003, Horror) Halle Berry, Robert (:45) MAX on ** x SECRET WINDOW (2004)
MAX-E GOOD ADVICE Downey Jr., Charles S. Dutton. Strange events plague Set: 50 First Johnny Depp. A stranger accuses a
(2001) 'R' (CC) a confined psychologist 'R' (CC) Dates Cl (CC) troubled author of plagiarism.
(:00) * THE DEVIL'S OWN (1997, Drama) Harri- GARFIELD: THE MOVIE (2004, Comedy) (:20) NIGHTCAP:
MOMAX son Ford, Brad Pitt. A New York cop unknowingly shel- Breckin Meyer. A cat tries to save a kidnapped dog. ILLICIT AFFAIRS
ters an Irish terrorist. C 'R' (CC) Live actiohnanimated. A 'PG' (CC) (2000)
:(630) *** THE ITALIAN JOB ** GOOD BOYI (2003, Comedy) Molly Shannon, Penn & Teller: Penn & Teller:
SHOW 2003, Suspense) Mark Wahlberg. Liam Aiken. iTV Premiere. A 12-year-old s dog has an Bulls...! C (CC) Bulls...! C (CC)
i V.C 'PG-13' (CC) interplanetary mission. C 'PG' (CC)
(6:00M) A sAS- ISLAND OF THE DEAD (2000, Horror) Talisa Soto, (:35) *' LOVE OBJECT (2003, Horror) Desmond
TMC SASSINATION Bruce Ramsay. Killer flies plague a billionaire and his- Haington, Udo Kier; A sex doll becomes jealous of.its
_____ TANGO guests. l 'NR' (CC) owner's real romance. A 'R' (CC)


The

Show
and ^Sli^


f Thursdays

Eta 1


AN I
Time: Second Floor of 1
Door Open 11pm


Admission:
$- w/ Movie Tickets
$15 without
Movie Pass Giveaways!


THE TRIBUNE BUSINESS











THE TRIBUNE BUSINESS


FRIDAY, MAY 13, 2005, PAGE 7B


Dear Stockholders,

We present you the Financial Statements of Banco Boavista Interatlantico S.A., elaborated in compliance with the Brazilian Corporate Law, referring to the year ended December 31, 2004.
Boavista, company belonging to Bradesco Group, has 2 Branches Overseas (Grand Cayman and Nassau), in addition to 1 subsidiary, Boavista Banking Limited, also in Nassau.
In the ydar, it recorded Net Income of R$ 23 million and Stockholders' Equity of R$ 143 million.
Assets totaled R$ 1.2 billion, on December 31, of which 47.91% allocated in Securities.
Pursuant to the provision in the Article 8 of the Circular 3,068, as of 11.08.2001, of the Central Bank of Brazil, the Bank declares to have financial capacity and the intention to hold to maturity the securities classified in the category "securities held to
maturity".
As part of the corporate restructuring implemented in the Group, in January 2004 an Instrument of Protocol and Justification of Partial Spin-off of the Stockholders' Equity of Banco Boavista InterAtlantico S.A was entered into, with version of the installments
split to Banco BCN S.A. and Banco Finasa S.A. (companies directly and indirectly controlled by Banco Bradesco S.A.), appreciated and resolved by the companies' stockholders, at Extraordinary Stockholders' Meetings on January 30, 2004.
The installments split were evaluated as per the accounting criterion, taking as basis the balance as of December 31, 2003, at the amounts of R$ 505.3 million, conveyed to Banco BCN S.A. and R$ 2.6 million, to Banco Finasa S.A. Due to this operation,
there was a decrease in the capital stock of Banco Boavista InteratlAntico S.A. at the amount of R$ 507.9 million, and the respective cancellation of 1,356,818,369 non-par registered, book-entry common stocks.
Osasco, SP, January 28, 2005

Board of Directors


BaaneShe.o ecmer3,. 0466 n husns f -.
M I


ASSETS


RuREn I T OA ET .....................................................................
FUNDS AVAILABLE................................................ ................
INTERBANK INVESTMENTS.................................... ...........
Open Market Investments............................................................
SECURITIES AND DERIVATIVE FINANCIAL INSTRUMENTS..
Own portfolio................................................
INTERBANK ACCOUNTS......................................................
Internal transfer of Funds.........................................................
CREDIT OPERATIONS.........................................................
Credit Operations Private Sector...............................................
Allowance for Loan Losses............................... ................
OTHER RECEIVABLES..........................................................
Income Receivable........................................ ............
S undry..........................................................................................
Allowance for Other Losses.....................................................


LONG-TERM RECEIVABLES...................................................
SECURITIES AND DERIVATIVE FINANCIAL INSTRUMENTS..
Own Portfolio...........................................................................
CREDIT OPERATIONS.............................................................
Credit Operations Private Sector.............................................
Allowance for Loan Losses......................................................
OTHER RECEIVABLES..........................................................
Income Receivable................................
Sundry.......... ..............................................................................
Allowance for Other Losses.....................................................
OTHER ASSETS...................................................................
Otiher Assets.................................................................................
Allowance for Losses....................................................................


PERMANENT ASSETS
INVESTMENTS.........................................................................
- Local........................................................................... ......... .
- Foreign........................................................................................
Other Investments..........................................
Allowance for losses................................. ..................
PROPERTY AND EQUIPMENT IN USE.....................................
Other Fixed Assets......................................................................
SAcumulated Depreciation... ......... ........ .. .......


T T A L............................................................... ............


456,727
1,449
3,320
3,320
372,593
372,593
287
287
25,581
27,654
(2,073)
53,497
192
54,474
(1,169)


474,765
223,261
223,261
17,047
28,856
(11,809)
234,457
1,381
233,097
(21)

2,465
(2,465)


312,190
311,314
27
305,744
27,341
(21,798)
876
31,072
(30,196)


1,243,682


LIABILITIES


CURRENT LIABILITIES..........................................................
DEPOSITS.................................................................................
Interbank Deposits............................................... .................
Time Deposits...........................................................................
OTHER LIABILITIES..................... ................... ...................
Social and Statutory Payables....... ...................
Taxes and Social Security Contributions...................................
Sundry ....................................................................... ............


LONG-TERM LIABILITIES.....................................................
DEPOSITS........................................................... .................
Interbank Deposits ......................................................
Time Deposits............................................................................
OTHER LIABILITIES................. .. .......................................
Taxes and Social Security Contributions................................
Sundry............................................................. .....................


STOCKHOLDERS' EQUITY....................................................
Capital:
- Local Residents..................................... ...................
Capital Reserves.......................... .... ....................
Revenue reserves............................................... ..................


TOTAL......


753,557
729,213
728,800
413
'24,344
6,461
17,535
348


346,343
83,746
83,613
133
262,597
249,494
13,103


143,782

115,100
7,207
21,475


.................. 1,243,82


MARK-TO-
REVENUE RESERVES MARKET
CAPITAL ADJUSTMENTS RETAINED
EVENTS CAPITAL TOTAL
RESERVES SECURITIES EARNINGS TOTAL

LEGAL STATUTORY AND
DERIVATIVES


BALANCES ON 6.30.2004......................................................................... 115,100 7,207 7,271 28,325 333 158,236
MARK-TO-MARKET ADJUSTMENT SECURITIES AND DERIVATIVES (333) (333)
LOSS........................................................................................................... - - (19,750) (19,750)
APPROPRIATION OF NET INCOME- Reserves........................................ - (988) (13,133) 14,121
-Declared Dividends.....................................- 5,629 5,629


BALANCES ON 12.31.2004......................................................................... 115,100 7,207 6,283 15,192 143,782


BALANCES ON 12.31.2003....................................................................... 164,074 5,637 49,558 408,966 628,235
CAPITAL INCREASE WITH RESERVES................................................. 26 (26) -
CAPITAL DECREASE.............................................................................. (49,000) (5,637) (44,408) (408,823) - (507,868)
FISCAL INCENTIVES.................................................................................- 7,183 - 7,183
ADJUSTMENT OF EXCHANGE MEMBERSHIP CERTIFICATES................. 24 24
NET INCOME....................................................................................... - - 22,669 22,669
APPROPRIATION OF NET INCOME: Reserves.......................................- 1,133 15,075 (16,208)
Declared Dividends.............................- (6,461) (6.461)


BALANCES ON 12.31.2004....................................................................... 115,100 7,207 6,283 15,192 143,782


S t e oI.o. C a i 6n= fI -;, --t'4l .


INCOME FROM LENDING AND TRADING ACTIVITIES...........................
Credit Operations.......................................................................
Securities Transactions............................................................
EXPENSES INTEREST AND CHARGES ON:...........................................
D eposits.........................................................................................
Provision for Loan Losses..............................
INCOME FROM FINANCIAL INTERMEDIATION.......................................
OTHER OPERATING INCOME (EXPENSES)...........................................
Commissions and Fees.....................................................
Other Administrative Expenses....................... ..... ....................
Tax Expenses............................................................ ............
Equity in the Earnings of Subsidiary and Associated Company.....
Other Operating Income........ .......... ... .............. .............
Other Operating Expenses............................................................
OPERATING INCOME...................................................................................


NUN-U RA I IN MU e.......................................................................
INCOME BEFORE TAXES........................................................................
PROVISIOIN FOR INCOME TAX AND SOCIAL CONTRIBUTION.............
NET LOSS/INCOME ...................................................................................


Year ended
2nd Half December 31
2004 2004
41,033 103,015
21,367 26,666
19,666 76,349
13,690 42,222
20,981 59,264
(7.291) (17,042)
27,343 60,793
(40,152) (10,126)
246
(7,399) (15,396)
(158) (5,057)
(34,950) (17,469)
9,875 38,280
(7,520) (10,730)
(12,809) 50,667
1,065 (1,490)
(11,744) 49,177
(8,006) (26,508)
(19,750) 22,669


Number of shares ...................................... .......... 321,571,204 321,571,204
Loss/Income per thousand shares in R$...................................... (61.42) 70.49




Yearended
2nd half December31
2004 2004

FINANCIAL RESOURCES WERE PROVIDED BY......................................... 612,210 2,392,036
NET INCOME/LOSS.......................................................... (19,750) 22,669
ADJUSTMENTS TO NET INCOME................................................................. 50,547 30,416


Depreciations and Amortizations........................
Equity in the Earnings of Associated and Subsidiary Company.......
Change in Provision for Investments...................................
Other:,.;......;; .. .. ...... ...... ..>
MARK-TO-MARKET ADJUSTMENT SECURITIES AVAILABLE FOR SALE.
DONATIONS AND FISCAL INCENTIVE INVEVSTMENTS............................
THIRD PARTIES:
-Decrease in Assets.................................
Interbank Investments..............................
Securities and Derivative Financial Insturments...........................
Interdepartmental Accounts..... ....................................
Credit Operations...................................................................
Other Receivables............................ ........................................
Other Assets.............. ..............................................................
-Sale of Assets and Investments.........................................
Non-operating Assets...............................
Property and Equipment in Use................. ...............................
Investm ents................................. .............................................
FINANCIAL RESOURCES WERE USED FOR .......................................
CHANGE IN DEFERRED INCOME.............................
DECLARED DIVIDENDS..................................................
CAPITAL DECREASE.................................
INVESTMETNS IN..................................... ......... ........................
Non-operating Assets...................................................... ............
Property and Equipment in Use............................ ..........
Investments................................................................. .......
-Increase in Assets.................................... .............
Interbank and linterdepartmental accounts........................
-Decre ase in liabilities.....................................................................
Deposits............. ................... ......... ................... ........
Funding in the Open Market................................
Other Liabilities...................................
DECREASE IN FUNDS AVAILABLE..............................................................


CHANGES IN
FINANCIAL
POSITION


3,404
34,950
(3,503)
: ;15,696,.
(333)


581,078
7,970
442,253
49
103,603
27,052
151
668
668


612,440

(5,629)

115
115




617,954
607,605

10,349
(230)


At the Beginning of the Period.... 1,679
At the End of the Period............. 1,449
Decrease In Funds Available...... (230)


N otes oTh.eFnanialStaeme. nts


1) OPERATIONS

Banco Boavista Interatlantico S.A. is a multiple service financial institution with a view to making general bank
operations, including foreign exchange. Banco Boavista Interatlantico S.A. is an integral.part of Bradesco Group,
and its activities are conducted integrally with a set of companies which perform in the financial and capital
markets, using its management and technological resources, and its financial statements should be understood in
this context.
As part of the corporate restructuring implanted in the Group, in January 2004, an Instrument of Protocol and
Justification of Partial Spin-off amongst Banco Boavista Interatlantico S.A., Banco BCN S.A. and Banco Finasa
S.A. was entered into, with the purpose of partial spin-off of the stockholders' equity of Banco Boavista
Interatlantico S.A. and incorporation of the installments split by Banco BCN S.A. and Banco Finasa S.A., resolved
by the companies' stockholders, at Extraordinary General Meetings held on January 30, 2004.
The installment split was evaluated pursuant to the accounting criterion, taking as basis the accounting balance as
of December 31,2003. Due to this operation, there was a decrease in the Stockholders' Equity and Capital Stock
of Banco Boavista InteratlAntico S.A. at the amount of R$ 507,868 thousand and R$ 49,000 thousand, respectively,
and cancellation of 1,356,818,369 non-par registered, book-entry common stocks.

2) PRESENTATION OF THE FINANCIAL STATEMENTS

The financial statements of Banco Boavista Interatlantico S.A. include the foreign branches of Grand Cayman and
Nassau and were elaborated from the accounting policies based on the Joint Stock Companies Law for the record
of the operations, associated with the rules and instructions of the Brazilian Monetary Council (CMN) and the
Central Bank of Brazil (BACEN), which include accounting practices and estimates referring to constitution of
provisions. The effective results may be different from those estimates and assumptions. The exchange variation of
the foreign branches operations was distributed, in the statements of income section, pursuant to the respective
assets and liabilities which originate it.
The financial statements are not being presented comparatively in view of the partial spin-offs which took place in
2004 (Note 1), as granted in the Article 9 of the BACEN Circular 3017.

3) MAIN ACCOUNTING POLICIES

a) Determination of net income
Income and expenses are determined on the accrual basis of accounting. Transactions with prefixed rates
are recorded at their redemption amounts and income and expenses for the future period are recorded as a
discount to the corresponding asset and liability accounts. Income and expenses of a financial nature are
prorated daily and calculated based on the exponential method, except when relating to discounted notes or
to cross-border transactions which are calculated on the straight-line method. Post-fixed or foreign-currency-
indexed transactions are adjusted to the balance sheet date.

b) Interbank investments
They are recorded at purchase cost, including accrued income up to the balance sheet date, net of loss
accrual, where applicable.

c) Securities
Trading securities securities which are acquired for the purpose of being actively and frequently traded are
adjusted to market value as a counter-entry to results for the period.


Securities available for sale securities which are not specifically intended for trading purposes or as held to
maturity, are adjusted to market value as a counter-entry to a specific account in stockholders' equity, at
amounts net of tax effects.
Securities held to maturity securities for which there exists intention and financial capacity for maintenance
through to maturity are recorded at cost, plus accrued eamings, as a counter-entry to results for the period.

d) Credit operations, other receivables and allowance for loan and leasing losses.
Credit and other receivables are classified at their corresponding risk levels in compliance with: (i) the
parameters established by CMN Resolution 2682, at nine levels from "AA" (minimum risk) to "H" (maximum
risk); and (ii) management's risk level assessment. This assessment, which is carried out on a periodic
basis, considers current economic conditions, and past loan loss experience, as well as specific and general
risks relating to operations, borrowers and guarantors. Moreover, the length of the delay in payment defined
in CMN Resolution 2682 is also taken into account for customer risk classification purposes as follows:


Len th of dela


Customer classic n


Sfrom 5to3days .........................................
from 15 to 30 days ................................................... B
from 31 to 60 days ................................................... C
from 61 to 90 days .......... ....... ............................. D
from 91 to 120 days ............................................... E
from 121 to 150 days ............................................... F
ftom 151 to 180 days .......................... ............. ...... G
more than 180 days ................................................ H

The accrual of credit operations past due up to 60 days is recorded in income on credit operations and
subsequent to the 61" day, in unearned income.
Past-due operations classified at "H" level remain at this level for six months, subsequent to which time they
are written off against the existing allowance and controlled over a five-year period in memorandum
accounts and no longer presented in the balance sheet.
Renegotiated operations are maintained with a classification equal to their prior rating. Renegotiated
operations, already written off against the allowance and which are recorded in memorandum accounts are
classified at "H" level and any gains derived from their renegotiation are recognized as revenue only when
they are effectively received.
The allowance for loan losses is recorded at an amount considered sufficient to cover estimated losses and
considers BACEN requirements and instructions, as well as Management's appraisal of the related credit
risks.


e) Income tax and social contribution (asset and liability)
The provision for federal income tax is calculated at the standard rate of 15% of taxable income, plus an
additional rate of 10% for income over established limits. The provision for social contribution is recorded at
the rate of 9% of pre-tax income. Provisions were recorded for other taxes and social contributions in
accordance with specific applicable legislation.
Deferred tax assets on temporary additions are realized upon use and/or reversal of the corresponding
provisions on which they were recorded.


I


7,206
17,469
(2,393)
,;.;: 8,134;

7,183

2,331,061
658,752
1,450,250

96,398
125,661

707
490
44
173
2,392,059
418
6,461
507,868
7,389
115
2
7,272
275
275
1,869,648
679,776
603,078
586,794
(23)


1,472
1,449
(23)


.......................................................


I


9i' l:


Banco Boavista Interatlantico S.A.

Member Company of Bradesco Group
Federal Register of Legal Entities No. 33.485.541/0001-06
Headquarters: Cidade de Deus Vila Yara Osasco Sao Paulo Brazil

(A translation of the original report in Portuguese, as published in Brazil, containing financial statements prepared in accordance with
accounting practices adopted in Brazil).


,.o
o..











THE TRIBUNE BUSINESS


Banco Boavista Interatlintico S.A.

Member Company of Bradesco Group
Federal Register of Legal Entities No. 33.485.541/0001-06
Headquarters: Cidade de Deus Vila Yara Osasco Sao Paulo Brazil

(A translation of the original report in Portuguese, as published in Brazil, containing financial statements prepared in accordance with
accounting practices adopted in Brazil).




( t tN s T F i t


f) Investments
Significant investments in subsidiary and associated company are recorded on the equity method. The
financial statements of the foreign branches and subsidiaries are adjusted to comply with the accounting
practices adopted in Brazil, translated into reais and their related effects recognized in income for the period.
The exchange membership certificates of the Center for the Financial Clearance and Custody of Private
Securities (CETIP) were recorded at their unaudited net book values, informed by the CETIP, and fiscal
incentives and other Investments were recorded at cost, less the provision for loss, where applicable.

g) Property and equipment in use
This is stated at cost, net of the corresponding accumulated depreciation, calculated on the straight-line
method at annual rates which take into consideration the economic useful lives of the assets as follows:
furniture and fixtures and machinery and equipment 10% and data processing systems 20% to 50%.

h) Deposits
These are stated at the amount of the liabilities and include related charges up to the balance sheet date, on
a daily pro rata basis.

i) Other assets and liabilities
The assets were stated at their realizable amounts, including, where applicable, related income and
monetary and exchange variations (on a daily pro rata basis), lIss a provision for loss, when deemed
appropriate. The liabilities include known or estimated amounts, plus related charges and monetary and
exchange variations (on a daily pro rata basis).

4) SECURITIES AND DERIVATIVE FINANCIAL INSTRUMENTS

a) Composition by category and maturity
On December 31, 2004 in thousands of reals


Securities (1)


Negotiation securities....................
* Investments in foreign securities(2)
* Financial treasury notes;..;...........
*Bank Deposit Certificate.................
* Debentures ................................
*National treasury bonds...................
*Central Bank Notes........................
* Other ................................................
Securities held to maturity.............
* Investments In foreign securities(2)
*Foreign debt securities....................


1 to 30 31 to 180 181 to


days days
5,479 113
5,029
40
450 -



73
4,671 199,080
328 199,080
4,343


Total......................................... ....... 10,150
% .............................................. 1.70


360 days
160,356
160,355


\


Market/
Over book
value
360 days (3) (4
2,894 168,842
165,384
1,496 1,536
478 928
731 731
189 189

73
223,261 427,012
145,992 345,400
77,269 81,612


199,193 160,356 226,155
33.44 26.91 37.95


595,854
100.0


Restated
cost
value

166,855
163,397
1,536
928
731
189
1
73
427,012
345,400
81,612


Mark-
to-
Market

1,987
1,987


593,867 1,987


(1) Investments in quotas of investment funds were distributed according to the securities which
compose their portfolios, and in the event of operations committed by the respective securities which
are guaranteeing the operations, preserving the category classification of the funds. In the
distributions of the terms, the maturities of the securities were considered, regardless of their
accounting classification;
(2) It refers to investments in "Fixed Rate Euro Notes" and "Brazilian Govern Debt"
(3) The market value of the securities is determined according to the quoted market price on the date of
the balance sheet. Should there not be quoted market price, the amounts are estimated based on
quotations of distributors, price definition models, quotation models or price quotations for
instruments with similar features. In the event of investments in investments funds, the restated cost
reflects the amount of the respective quotas which already are at market value; and .
(4) This column reflects the book value subsequent to mark-to-market, except for "Securities held to
maturity", market value of which is higher than book value by an amount of R$ 24,238 thousand.

b) In compliance with the provision in the Article 8 of the BACEN Circular 3068, Banco Boavista Interatlantico
S.A., as an integral part of Bradesco Group, declares to have financial capacity and intention to hold to
maturity the securities classified in the category'"securities held to maturity".
c) Banco Boavista Interatlantico S.A. did not hold a position of derivative financial instruments on December 31,
2004.

5) CREDIT OPERATIONS .
a) Total composition of the portfolios and maturity

On December 31, 2004 in thousands of reais
Normal Course


Loans.......................................
Other receivables (1) ..............
Total credit operations.......
Sureties and guarantees (2)..
Total ..............................


1 to 31 to 61 to 91 to 181 to Over
30 60 90 180 360 360
days days days days days days
1,009 387 21,623 1,696 2,657 28,856
461 893 447 893 2,203 2,077
1,470 1,280 22,070 2,589 4,P60 30,933
27,815
1,470 1,280 22,070 2,589 4,860 58,748


Total


56,228
6,974
63,202
27,815
91,017


%
61.8
7.6
69.4
30.6
100.0


On December 31, 2004 in thousands of reals
Normal course
Past due Installments


Ito 30
days
Loans................................ 17
Other receivables (1) ............ 1,108
Total credit operations..... 1,125
Sureties and guarantees (2) -
Total ................................... 1125


31 to 60 61 to 90 91 to 180 181 to 360
days days days Days
8 8 33 216

8 8 33 216

8 8 33 216


Total

282
1,108
1,390

1,390


Total

% (A+B) %
20.3 56,510 61.2
79.7 8,082 8.7
100.0 64,592 69.9
27,815 30.1
92,407 100.00


(1) Other receivables comprise receivables on purchase of assets and credit instruments receivable; and
(2) Amount recorded in memorandum account.


b) By type and risk level

On December 31, 2004 in thousands of reals
Risk Levels


Credit operations AA
Loans........................ 21,302
Other receivables...... -
Total.......................... 21,302
% ................................. 33.0


A
20,081
107
20,188
31.3


B

6,649
6,649
10.3


C
547
65
612
0.9


D
905
153
1,058
1.6


c) Concentration of credit operations and other receivables Or
In thousand,
Largest borrow er............................ ............. ...................
Ten largest borrowers ........................... I ........... ...................
Twenty largest borrowers.......................... ............
Other borrowers.........................................

d) Economic activity sector

Private sector .
Financial Interm ediaries .................................................................... .................
M anufacturing ........................................... ........... ..... ............................
Agriculture, livestock raising, fishing, forest development and management .....
Services ................................................................
Ind ividuals ............................................... .......................................... . .......
Commerce ...... ... ........ ................................................
Total ...............................................................................................................


E3

3
3


H Total %
13,675 56,510 87.5
1,105 8,082 12.5
14,780 64,592 100.0
22.9 100.00


o December 31, 2004


s of reals
21,302
63,368
64,541
27,866


%
23.1
68.6
69.8
30.2


On December 31, 2004
In thousands %
of reals _
21,302 33.0
20,894 32.3
13,386 20.7
7,034 11.0
1,183 1.8
793 1.2
64,592 100.0


e) Composition of credit operations andallowance for loan losses
On December 31, 2004 in thousands of reais


Portfolio balance


Risk Abnormal Normal
course
Level Past due course
AA 21,302
A 20,188
B 6,649
C 612
ubtotal 48,751
D 1,058


13,393
14,451
63,202
97.8


Total %
21,302 33.0
20,188 31.3
6,649 10.3
612 0.9
48,751 75.5
1,058 1.6
.3
14,780 22.9
15,841 24.5
64,592 100.0
100.0


Provision

Specific Generic Existing

101 101
66 66
18 18
185 185
106 106
1 1


1,387
1,388
1,388
9.2


f) Movement of allowance for loan losses

Initial balance on December 31,2003................................................................
Reversal .................................. ................... .. ............... ......... ............ ........
Am ount written off... ;...................................................................... ...... ...........
Final balance on December 31, 2004...................................................................
Specific provision (1) .................. ............ .............. .... ............. ........
Generic provision (2) ..................... ................... ....................

Operations recoveredI theyar(3 ........ ............................. ....................
Operations renegotiated in the year ...................................................................


13,393
13,499
13,684
90.8


14,780
14,887
15,072
100.0


In thousands of reals
63,765
(17,042)
(31,651)
15,072
1,388
13,684

20,193
13,559


(1) For the operations which present past due installments:
(2) Recorded based on the customer/transaction classification and accordingly not .included in the preceding item; and
(3) Recorded in credit operations revenues, as established in the BACEN rules and instructions.


6) OTHER RECEIVABLES SUNDRY

Receivables (Note 14a) ...............................................
Deferred tax assets (Note 13c) ........................ ................
Deposits for tax resources interposition................... .........
Recoverable taxes and contributions................... .............
Deposits for tax resources interposition.................. ..........
Receivables on purchase of assets........................... ............
O th e r ...................................................... ............. ...............
Total ...................................... ......................... ...................


On December 31, 2004 in thousands of reals
177,954
54,827
20,187
11,929
8,575
8,077
6,022
287,571


7) INVESTMENTS

a) Equity accounting was recorded in income under "Equity in the earnings of subsidiary and associated company"

On December 31,2004 in thousands of reais
Common
Adjusted stocks Percentage Equity
Companies Capital Net held ownership Adjusted Book accounting
Equity (In capital net Income value adjustments
thousands)
Boavista Banking Limited (a)........... 23,900 305,744 9,000 99.999% 1,311 305.744 1,311
Other investments ..................... 27 15


Exchange variation Branches and
foreign subsidiary..........................
TOTAL .........................................


(18,795)
305,771 (17,469)


(a) Company in closing down process. The assets and liabilities will be transferred to Banco Boavista Interatlantico SA.
Grand Cayman Branch and the 2,849 thousand stocks offered in litigation guarantee will be replaced.


b) Other Investments and allowance for loan losses
On D
Investments for fiscal incentives................................ .............
Allowance for losses with investments for fiscal incentives............
Gifts and fiscal incentive investments.................... ..............
Other investments.................................. .............
Allowance for losses in other investments................... ............
Total ..............................................................................


8) LIABILITIES FOR DEPOSITS
On D


December 31, 2004 in thousands of reais
14,559
(10,531)
261
12,521
(11,267)
5,543



December 31, 2004 in thousands of reais


1 to 30 91 to 180 181 to 360 1 to Over
days days days 3 years 3 years Total
Interbank deposits ..... 290,120 161,670 277,010 83,613 812,413
Term deposit........................ 1 160 252 133 546
Total ................................... 290,121 161,830 277,262 133 83,613 812,959

9) CONTINGENT LIABILITIES

The legal status of the Bank comprises various processes of civil and tax nature, to which provisions for tax
contingencies at the amount of R$ 87,307 thousand were recognized, which are recorded in the account Other
liabilities taxes and social security contributions (Note 10a), and civil at the amount of R$ 13,103 thousand, which
are recorded in Other liabilities sundry (Note 10b). The provisions for contingencies are periodically reviewed by
management and take into consideration, amongst other factors, the stage of the processes, the contractual
guarantees resulting from change of ownership, and the opinion of the internal and external attorneys and are
considered by management as sufficient to cover possible losses that the Bank may incur.

10) OTHER LIABILITIES


a) Taxes and social security contributions

Taxes and contributions payable..................................
Provision for tax risks ........................ ..... ............
Taxes and contributions on payable profits .............
Total ..................................................................................

b) Sundry

Provision for contingent liabilities..................... .............
Other
Total


On December 31, 2004 in thousands of reals
175,034
87,307
'::; :; I ^"^ e88'
267,029


On December 31, 2004 in thousands of reals
13,103
348
13,451


11) STOCKHOLDERS' EQUITY

a) The Capital stock, fully subscribed and paid-up, is R$ 115,100 thousand and is represented by 321,571,204
non-par registered, book-entry common stocks.

b) Movement of capital stock
At the Extraordinary General Meeting as of January 30, 2004, a capital decrease by R$ 49,000 thousand
was approved, concomitantly to the cancellation of stocks, proportionally to the installment of its
Stockholders' Equity, at the amount of 1,356,818,369 non-par registered, book-entry common stocks. ;his
operation was ratified by BACEN on May 26, 2004 (Note 1).
At the Extraordinary General Meeting as of March 31, 2004, a capital increase by R$ 26 thousand was
resolved, by means of the capitalization of part of the balance of the account profit reserves, increasing it
from R$ 115,074 thousand to R$ 115,100 thousand. This operation was ratified by BACEN on June 18,
2004.


Number
Balance on December 31, 2003 ................................... 1,678,389,573
Cancellation of stocks/capital decrease (Note 1) .............. (1,356,818,369)
C apital increase.............................. ............................
Balance on December 31, 2004 ...................................... 321,571,204


In thousands of reais
164,074
(49,000)
26
115,100


c) In compliance with statutory provision, the stockholders are ensured with dividends and/or Interest on own
capital, which added up correspond, at least, to 30% of the net income for the year, adjusted under the
terms of the corporate law. Dividends relating to the year ended December 31, 2004 were provisioned, at
the amount of R$ 6,461 thousand.


12) TRANSACTIONS WITH THE PARENT COMPANY, SUBSIDIARY AND ASSOCIATED COMPANIES

Transactions with the parent company, subsidiary and associated companies were made in conditions and rates
compatible with the averages practiced with third parties, effective on the date of the operations, and are
represented as follows:
On D am 31 2004 O in thousands of reais


Cash equivalents
Banco Bradesco S.A. overseas .................................................
Securities (a)
Banco Bradesco S.A. ......................................................................
Pre-export operations (b)
Banco Bradesco S.A ...............................
Interbank deposits funding (c)
Banco Bradesco S.A. ......................... ................................
Boavista Banking Limited ...................... ....................................
Interbank deposits Investments (c)
Banco Bradesco S.A. ......................... ................................
Open market investments d)
Banco Bradesco S.A. ......................... ................................
Open market funding (d)
Banco Bradesco S.A. ........................................................................
Banco Alvorada S.A. ................................. ..... .......
Dividends
Banco Bradesco S.A.. ...............................
Cia. Brasileira de Meios de Pagamentos Visanet.......................


Assets
(liabilities)
1,245

505,991

21,294

(539,733)
(272,680)



3,320


Revenues
(expenses)


74,994

385

(52,262)
(2,731)

1,252

1,634


(2,732)
(137)


(6,461)
1


(a) Investments in foreign securities Fixed Rate EuroNotes and Brazilian Govern Debt, subject to exchange
variations and carrying interest at rates used for securities placed in the international market;
4(b) Foreign credit lines for export financing in Brazil, subject to exchange variations and interest at rates
practiced in the international market;
(c) Short-term interbank investments interbank deposits of related companies at CDI rate (Certificate of
Interbank Deposit); and
(d) Repurchase and/or resale commitments pending settlement, guaranteed by government securities at normal
market rates.

13) PROVISIONS FOR INCOME TAX AND SOCIAL CONTRIBUTION

a) Calculation of income tax and social contribution charges

Year ended December 31, 2004 in thousands of reals
Income before income tax and social contribution ...................... ........................ ........ .... 49,177
Composite income tax and social contribution at the statutory rates of 25% and 9%, respectively (16,720)
Effect of additions and exclusions on tax calculation:
Equity in the earnings of subsidiary and associated companies................................... (5,939)
Non-deductible expenses, net of non-taxable income ........................................... ..... ......... (5,804)
O the r a m o unts...................... ........ ................... ....... .......................... .....................1,95 5
Provision for income tax and social contribution for the year ............ (26,508)


PAGE 8B, FRIDAY, MAY 13, 2005


It-I
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H
Subtotal
Total
%


3
1,387
1,390
1,390
- 2.2


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THE TRIBUNE BUSINESS


FRIDAY, MAY 13, 2005, PAGE 9B


Banco Boavista Interatlantico S.A.

Member Company of Bradesco Group
Federal Register of Legal Entities No. 33.485.541/0001-06
Headquarters: Cidade de Deus Vila Yara Osasco Sao Paulo Brazil

(A translation of the original report in Portuguese, as published in Brazil, containing financial statements prepared in accordance with..
accounting practices adopted in Brazil).



(Cntnun N


b) Statement of income tax and social contribution benefit (expense)
Year ended December 31, 2004 in thousands of reals


Deferred taxes
Amount recorded/(realized) for the year on temporary additions (1) .......
Subtotal............................... ..................................
Current taxes
Income tax and social contribution payable.......................................
S ubtotal.............. .......... ........... .................... ..........................
Income tax and social contribution benefit (expense) for the year...
(1) Net movement of taxes assets and liabilities.
c) Statement of deferred income tax and social contribution assets


(3,566)
(3,566)

(22,942)
(22,942)
(26,508)


In thousands of reais
Balance Split Balance
on Balances Amount Amount on
12.31.2003 (Note 1) recorded realized 12.31.2004


Provision for loan losses.......................................
Provision for civil contingencies.. ......................
Provision for tax contingencies........:...:.....................
Allowance for mark-to-market of securities and
investm ents............................................................
Provision for loss on non-operating assets
O th e r .................................................... ..............
Total deferred tax assets on temporary
differences ............ .................................. .......


19,942
6,618
32,717

1,527

8,649
69,453


Social contribution Provisional Measure 2158 -
35 as of 8.24.2001 ............................... .............. 70,521
Total deferred tax assets (Note 6).................... 139,974
Deferred tax liabilities ........ ............... 11,060
Deferred tax assets net of deferred tax liabilities. 128,914


351
101
123

451
838
662


6,104 14,189
2,263 4,456
5,243 27,597

776 1,202
838
2,766 6,545


2,526 17,152 54,827


(70,521)
(70,521)

(70,521)


2,526

2,526


17,152
11,060
6,092


54,827

54,827


d) Expected realization of deferred tax assets
On December 31, 2004 in thousands of reais .
Temporary differences
Income tax Social contribution Total
2005.........................I....... 10.436 2,904 13.340
2006 ................................. 14,496 5,034 19,530
2007.................................. 16,754 5,203 21,957
Total................................. 41,686 13,141 54,827
Projected realization of deferred tax assets is estimated and not directly related to expected book income.
e) The present value of deferred tax assets on temporary differences, calculated based on the average rate of
funding practiced by Bradesco Group, net of tax effects, amounts to R$ 49,261 thousand.


14) OTHER INFORMATION
a) By means of the Private Instrument of Business Integration Commitment Agreement and Other Agreements,
as of July 7, 2000, entered into with Banco Bradesco S.A., the ex-controlling companies judged convenient
the exercise of the option to adhere to PAES, aiming at the payment in installments of tax and social security
debts with the Government, guaranteed by them, which were questioned in management and legal spheres,
at the amount of R$ 165,340 thousand, in compliance with the permission instituted by the Law 10,684, as of
May 30, 2003.
Pursuant to the referred legislation, the amounts subject of the payment in installments will be discharged at
the minimum term of 120 months and maximum term of 180 months, duly restated by the TJLP.
The restated amounts relating to the tax liabilities and the respect right to receive from ex-controlling
companies, by means of the aforementioned instrument are, respectively, recorded in other liabilities tax
and social security contributions(Note 10a) and other receivables sundry (Note 6).


b) Other administrative expenses
Depreciation and amortization expenses.................
Service expenses ..................................................
Donation expenses..............................................


Year ended December 31, 2004- in thousands of reals


Other ................. ......... ...... ............ ...........
Total .............................................................................


c) Tax expenses
Contribution to COFINS ......................................
Taxes and charges..............................................
Contribution to PIS/PASEP......................................
Total ... ...............................
d) Other operating revenues
Indemnity of amounts (note 14 a)..........................
Restatement of amounts receivable (note 14a)......
Reversal of provisions .............................................
O th e r................... ........ ..... .................... ............. ...
Total...... ......... .................................................
e) Other operating expenses
Discounts granted in renegotiations expenses ........
Interest on liabilities expenses................................
Total ........................................................................
f) Non-operating income
Losses in investments for fiscal incentives...............
Rental income .........................................................
O th e r................................................................. .........
Total........................................................................


7,206
3,610
3,250
1,330
15,396


Year ended December 31, 2004 in thousands of reals


Year ended December 31, 2004 in thousands of reals
...... 17,848
..... -. 10,370
... 6,340
...... 3,722
.....38,280

Year ended December 31, 2004 -in thousands of reais
...... 6,177
...... 4,553
. 10,730

Year ended December 31, 2004- in thousands of reals
...... (4,310)
..... 400
...... 2,420
..... (1,490)


BoardofDi rectrsndepndet 0uio's


Osasco, SP, January 28, 2005


President
MArcio Artur Laurelli Cypriano


Directors
Decio Tenerello
La6rcio. Albino Cezar
Amaldo Alves Vieira
Luiz Carlos Trabuco Cappi
S6rgio Socha
Julio de Siqueira Carvalho de Araujo
Milton Almicar Silva Vargas
Jos6 Luiz Acar Pedro
Norberto Pinto Barbedo




Adelmo Agnelli Neto
Accountant Accounting Technician
Regional Accounting Council (CRC) 1SP090360/0-1


To
The Board of Directors and Stockholders
Banco Boavista Interatlantico S.A.
Osasco So Paulo

We have examined the balance sheets of Banco Boavista InteratlAntico S.A. as of December 31, 2004 and the related statements of income,.changes in
stockholders' equity and changes in financial positions for the year then ended, which are the responsibility of its management. Our responsibility is to
express an opinion on these financial statements.
Our examinations were conducted in accordance with auditing standards generally accepted in Brazil and included: (a) planning of the audit work, considering
the materiality of the balances, the volume of transactions and the accounting systems and internal accounting controls of the Bank; (b) verification, on a
testbasis,.of the-evidence and records which support the amounts and accounting information disclosed; and (c) evaluation of the most significant'
accounting policies and estimates adopted by management of the Bank, as well as the presentation of the financial statements taken.as a whole;',.
In our opinion, the aforementioned financial statements present fairly, in all material respects, the financial position of Banco Boavista Interatlintico S.A.
as of December 31, 2004, the results of its operations, changes in its stockholders' equity and changes in its financial position for the year then'ended,
in conformity'with accounting practices adopted in Brazil.
As mentioned in the Note 1, the stockholders' equity of Banco Boavista InteratlAntico S.A. was partially split in January 2004 to Banco BCN S.A. and
Banco Finasa S.A. For this reason and pursuant to the rules of the Central Bank of Brazil, the financial statements of the previous year are not presented
for comparison purposes.


January 28,2005


KPMG Auditores Independentes
CRC (Accounting Regional Council) 2SP014428/0-6


Walter lorio
Accountant
CRC 1SP084113/O-5


ClIudio Rogelio Sert6rio
Accountant
CRC 1SP212059/O-0"


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TRIBNE SORTSFRIDY, MY 13 200SPPAERTS


M By KELSIE
JOHNSON
Junior Sports
Reporter

THE Bahamas Golf
Federation is now in
negotiations with several
golf courses, hoping to
secure a green for
national teams to prac-
tice.
Although access to the
Cable Beach Golf Resort
is granted to the BGF,
negotiations are still in
process for other cours-
es.
According to Neville
Adderley, president of
the BGF, discussions are
in process with the
Ocean Club Golf resort
representatives.
He said: "The
Bahamas continues to
grow from strength to
strength in the develop-
ment of golf and perfor-
mance in international
competition.
"The development of
our juniors and therefore
the development of golf
generally will be signifi-
cantly enhanced if we
could get a public golf
course in New Provi-
dence," said Adderley.
"We are still discussing
with the Ministry of
Sports and others about
how we can bring this
about in the foreseeable
.future."
The junior team is get-
ting set to go to the
Caribbean Amateur
Junior Golf Champi-
onships in the Domini-
can Republic in July.
The team is usually
-afforded the opportunity
to practice on the 'Cable
Beach resort, but only
for a limiited time.

Home
The Cable Beach Golf
course has also been the
home for the senior
golfers, who will be com-
peting in the Caribbean
Amateur Golf Champi-
onships in St Kitts,
August 7th-14th.
Although the BGF has
had success throughout
the years, the association
still believes that access
to a public golf course
will help.
In 2003, the Bahamas
ladies team won the
George Teale Cup at the
47th Caribbean Amateur
Golf championships. The
team repeated as cham-
pions last year at the
championships in
Freeport.
Despite not having
their own facility, the
BGF was still able to
make history, by fielding
a team in the World
Amateur team champi-
onships last year in Puer-
to Rico placing well
among the 50 countries
that were represented.
The Bahamas has won
several of the individual
cups in the Caribbean
Amateur Golf champi-
onships over the past few
years.
Junior standouts in the
BGF have been Scott
Mac Dougall, junior
champ in 2002- to pre-
sent; and Annamae
Adderley, this year's
junior champ.
Adderley added: "We
wish to thank the gov-
ernment, who, through
the Ministry of Tourism,
has given crucial finan-
cial assistance to the 10th


CGC held in Freeport,
last,weekend.
"We will also like to
thank the Ministry of
Youth Sports and Cul-
ture, which as of late
been giving financial
assistance and support
where possible.
"We are looking for-
ward to their continuing
assistance from the gov-
ernment and that of the
private sector to compli-
ment the self-help of the
Bahamas Golf Federa-
tion."


Debbie Ferguson remembers





'fierce competitor' Vernetta


* By BRENT STUBBS
Senior Sports Reporter
SPRINTER Debbie Ferguson
broke down in tears when she
tried to put into perspective the
life of the late Vernetta Rolle-
Smith, who she had some intense
battles with on the track.
And quarter-miler Tonique
Williams-Darling said Rolle-
Smith was probably the fiercest
competitor she's ever had to face
on the local scene.
"It's sad. It's kind of hard,"
Ferguson told The Tribune. "Ver-
netta was born on January 9. I
was born on January 16 and
Tonique was born on January
17th.
"We were all born on the same
year and we were all similar."
The trio shared many match-
ups during the Bahamas Associ-
ation of Athletic Associations'
meets, particularly the National
High School Track and Field
Championships and the Carifta
trials in the 1990s.
However, while Ferguson and
Williams-Darling went on to
excel on the senior circuit, Rolle-
Smith's career was hampered by
a series of injuries and, eventual-
ly, cancer.
On Tuesday, Rolle-Smith
passed away in a hospital in
Houston, Texas, where she
resided and graduated with a
degree in physical education from
the University of Houston.
At the university, Rolle-Smith
participated on the Cougars'
track and field team. During her
era, she established the national
800 metre record of two minutes
and 6.27 seconds which still stands
today.
Ferguson, who went on to
attend the University of Georgia,
said from the time Rolle-Smith
came from Long Island to repre-
sent the NGM Major High,
everybody knew that she had a
lot of potential.
"She was really fearless and
always bubbly," Ferguson
recalled. "She was really down to
earth, but she was a competitor


DEBBIE FERGUSON (left) in action against
Vernetta Rolle-Smith. 'She was fearless and always bubbly,' Ferguson said.


that you didn't want to mess with
her when she stepped on the
track."
Last year, Ferguson said she
spoke to Rolle-Smith, who had
undergone surgery and was
responding very well to the
chemotherapy.


Change of date for


primary school event

By BRENT STUBBS
Senior Sports Reporter
DUE to the renovations currently underway at the Thomas
A. Robinson Track and Field Stadium, the 25th National Pri-
mary Schools Track and Field Championships, scheduled for
next week, have been postponed until next month.
Meet director Frank 'Pancho' Rahming said it's unfortunate
that they had to make the change, but it's necessary because of
the repairs to the stadium hosting of the Senior Central Amer-
ican and Caribbean Championships.
Rahming said the organising committee and the Ministry of
Youth, Sports and Culture, which is assisting with the spon-
sorship, apologises to the participating schools for the post-
ponement.
Instead of hosting the championships May 18-20, it will now
be staged from June 28-30. However, Rahming said they antic-
ipate that the change may see a reduction of the more than 35
schools and 1,600 athletes from the primary schools due to
participate.
"The committee indicated the new dates, but we are hearing
of schools that we have already called that those dates will not
be good for some of them," Rahming said.
Those dates are the same as the Bahamas Swimming Feder-
ation's Royal Bahamas National Swimming Championships
that will be staged at the Betty Kelly Kenning Aquatic Centre.
Additionally, the primary schools would be closed as of the
week before, which makes it a challenge for some of the coach-
es to ensure that they can have the athletes return to school.
"Some Family Islands are complaining that they are not sure
that they can get the kids back in school," Rahming lamented.
"So we've been getting mixed reactions.

Committee
"Some people have been saying 'okay' before they have
even checked the dates. Even persons on the committee have
been saying that the schools will be out the Friday before the
meet, but they don't think it would be a problem getting the kids
back in school."
The Thomas A Robinson Track and Field Stadium is cur-
rently buzzing with activities as local clubs, coaches and schools
have been trying to prepare their athletes for the champi-
onships that was intended for next week.
Many of the coaches and even parents, when they heard the
word that the championships is being postponed, have expressed
their disappointment because they feel that the meet could
still be held without interfering with the renovations at the sta-
dium.
But Rahming said the decision made by the committee is only
a precautionary one.
He further revealed that although work on the track will
not begin before May 26, Rahming said renovations have
already began on the announcer's booth and the press area as
well as the fences and the perimetres of the track.
"To ensure that unplanned obstacles and delays are min-
imised, the committee has recommended a change in dates for
the event," he further read.
Rahming said the committee does want to cancel this year's
event, but he's urging schools to contact the ministry and meet.
organisers by June 1 to confirm their participation and any
queries they may have as the preparations continue.
Since the inception of the championships 26 years ago, there
was only one year when it was not held 1986 when the
Bahamas Union of Teachers stopped all extra-curricular activ-
ities within the government schools.


"That is why this is coming as a
real shock to me," Ferguson
stressed. "That could be me. She's
only 29 and her life is gone. But
the good thing is that she's in a
better place.
"That's one thing that is com-
forting, although it's tough for


her daughters. I was just watching
the commercial for the 1995
Carifta trials and she was one of
the athletes they interviewed. It's
just weird. But she's in a better
place."
During those trials, the BAAA
produced a poster of Ferguson


pulling off her first ever victory
over Rolle-Smith when they ran
in the 400.
"She was like competing
against Marion Jones. When you
went out there, you had to look at
settling for second place," Fergu-
son noted. "She was awesome.
She was great.
"She was running better in high
school than some athletes were
running in college. She was my
idol. It was just amazing. She was
a great competitor, a very humble
person. It's like one of the good,
ones has gone. But she's in a bet-
ter place."
Tonique Williams-Darling, the
reigning 400 world champion, vis-
ited Vernetta and her family a
number of times while she was
in Houston with her husband,
Dennis Darling.

Spiritual
"She was always very spiritual
and a good natured person, even
when she was in the hospital,"
Williams-Darling reflected. "So
that's how she was."
As competitors, Williams-Dar-
ling said Rolle-Smith was one
who went out and did what she
had to do and was not concerned
about who she competed against.
"She wasn't concerned about
who she was competing against
or being fatigued or tired or what-
ever. She was always'a positive
person," Williams-Darling said.
"She was just always a very
competitive person. She always
had a passion for the sport and I
know now, her oldest daughter,
Maria, has her talent because
she's running track and playing
tennis.
"She's just a chip off the old
block. I think the kind of com-
petitor that Vernita was, from
what she told me, she now sees it
in her daughter."
Williams-Darling, a graduate
of the University of South Car-
olina, competed for St. John's
College against Rolle-Smith in
both the 400 and 4 x 400 relay
team.


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Organizing Committee of the 20th Central American
and Caribbean Senior Athletics Championships


(P.O. Box SS-5517, Nassau, Bahamas)

No later than 20th May 2005
':" I


TRIBUNE SPORTS


FRIDAY, MAY 13, 2005, PAGE 11B










FRIDAY, MAY 13, 2005


SECTION





Fax: (242) 328-2398
E-Mail: sports@100jamz.coi











By BRENT STUBBS
Senior Sports Reporter

IN JUST over a month,
quarter-miler Tonique
Williams-Darling will be head-
ing to Mexico for the "Clash of
the Titans" with world arch
rival Ana Guevara.
I But before they tangle at the
Grand Prix Athletic Show on
June 11, Williams-Darling will
make her 2005 debut in Mexico
on May 22 in a 200 metre race,
while Guerava will run the 300.
"I think the promoter
designed it that way because
they don't want us to run
against each other before we
meet on June 11," said
Williams-Darling, who prefers
to wait for the much anticipated
meeting.
"I feel like I'm really ready to
get out there and compete. My
training is going great and I'm
getting a little anxious about
how I'm going to run."
The May 22 meet is not as
highly profiled as the June 11
showdown, so Williams-Dar-
ling said she's not putting any
pressure on herself until the
right time comes.
"I'm just going to go there
to get everybody pumped up
and ready for the big one," said
Williams-Darling, who will
return to the United States to
run in the Prefontaine Classic in
the 400 on June 4 in Eugene,
Oregon in between the two
trips to Mexico.

Ministry
The Bahamas Association of
Athletic Associations and the
Ministry of Youth, Sports and
Culture are also pumped up for
the meet.
The two bodies are planning
to put on a one-day charter
Bahamasair flight that will
enable Bahamians to view the
showdown between Williams-
Darling and Guevera.
Williams-Darling, 29, said
she's excited about how things
are shaping up for the show-
down.
"It's exciting. I think just the
fact that I'm meeting her in
Mexico is just exciting," she
stated. "I'm looking forward to
it. It's going to be fun.
"I know they are looking for-
ward to it too. So I'm just going
to go out there and perform my
best and try to enjoy the match
up for what it is."
Once that match-up is over,
Williams-Darling and Guevera
will have a chance to renew
'their rivalry here when they
compete in the Senior Central
American and Caribbean
Championships over the Inde-
pendence holiday weekend in
July.
"I think with our recent suc-
--cess at the Olympics, the fans
will be excited to come out and
- see us perform against the best
athletes in the Caribbean and
"the Central American region,"
Williams-Darling stated.
S"So I know once I would
,have competed against Ana in
Mexico, I will be concentrating
oh the Sr. CAC. I want to make
sure that I have a good showing
in front of the home crowd."
While the Sr CAC Champi-
onships is gearing up to be a
good meet, Williams-Darling
said her focus is really on the
IAAF World Championships
in Helsinki, Finland, August 6-
14.
"I really want to win the gold
medal there," said Williams-
Darling, who is coming off her
gold medal performance at the
2004 Olympic Games in
Athens, Greece.


I -,


MIAMI HERALD SPORTS


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