Citation
The Tribune

Material Information

Title:
The Tribune
Uniform Title:
Tribune (Nassau, Bahamas)
Portion of title:
Nassau tribune
Place of Publication:
Nassau Bahamas
Publisher:
Tribune
Publication Date:
Copyright Date:
2005
Frequency:
Daily, except Sunday
daily
normalized irregular
Language:
English
Physical Description:
v. : ill. ; 58 cm.

Subjects

Genre:
newspaper ( sobekcm )
newspaper ( marcgt )
Spatial Coverage:
Bahamas

Notes

General Note:
Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
This item was contributed to the Digital Library of the Caribbean (dLOC) by the source institution listed in the metadata. This item may or may not be protected by copyright in the country where it was produced. Users of this work have responsibility for determining copyright status prior to reusing, publishing or reproducing this item for purposes other than what is allowed by applicable law, including any applicable international copyright treaty or fair use or fair dealing statutes, which dLOC partners have explicitly supported and endorsed. Any reuse of this item in excess of applicable copyright exceptions may require permission. dLOC would encourage users to contact the source institution directly or dloc@fiu.edu to request more information about copyright status or to provide additional information about the item.
Resource Identifier:
09994850 ( OCLC )

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Full Text
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The Tribune



Che Miami Herald

BAHAMAS EDITION



Volume: 101 No.119

Lester Mortimer

struck by car in
front of family

li By CARA BRENNEN
Tribune Staff Reporter

THE man whose candy com-
pany was loved by generations
of Nassau children died in a
road accident over the week-
end in front of his wife and fam-
ily. >
Mr Lester Mortimer, 71, own-
er of the popular Mortimer’s
Candy Kitchen, was crossing the
road at Cable Beach when he
was struck by a car driven by
an off-duty policeman.

His wife, daughter and other.

relatives witnessed the incident
and were visibly distraught.
More family members, includ-
ing grandchildren, rushed to the
scene to comfort them.

One woman bystander said:
“It is a shame that an elderly
man who has survived so much
had to die in such a way. Why
isn’t more done to regulate traf-
fic on this road?”

Mr Mortimer, of Blue Hill

Road, was knocked down by a
Mitsubishi Lancer driven by
Terrance Thompson, an off-
duty officer.

He was trying to cross the
road in front of SuperClubs
Breezes when the tragedy
occurred. Yesterday, a bunch
of flowers had been left on the
kerb to mark the scene of the
crash.

Mr Mortimer’s death is the
second traffic fatality in as many
days, and the third major acci-
dent in a week, causing police to
warn motorists and pedestrians
to use caution while on the
streets.



@ 71-YEAR-OLD
Lester Mortimer

Chief Supt Hulan Hanna said
the incident occurred some time
before 9pm’on Saturday when

. Mr Mortimer was making his

way across the median to the
Breezes hotel.

Mr Thompson was travelling
east when his vehicle hit Mr
Mortimer, who died at the
scene before an ambulance

could arrive. Although Mr.

Thompson’s vehicle was exten-
sively damaged, he did not
receive any major injuries.

The accident was witnessed
by Mr Mortimer’s wife, daugh-
ter and other family members
who were to accompany him
that evening.

One woman witness said:
“Until the government puts
some speed bumps on this road,

SEE page 12





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MONDAY, APRIL 18, 2005

scene after Saturday

oht’s accident.
(Photo:Felipe Major/
Tribune staff)

@ By TIFFANY GRANT
Tribune Staff Reporter




LESTER MORTIMER,
the man knocked down and
killed on Cable Beach on
Saturday night, was
described by a family mem-
ber as a loving, giving and
hard-working person.

Yesterday The Tribune
visited the family home at
Blue Hill Estates. His eldest
daughter Denise Mortimer
said the family is coping the
best it can, and her mother
Gloria is “holding up well”
considering. she witnessed
the accident. She said her
mother is calm and appears
to be over the initial shock.

“Death is hard to cope
with under any circum-
stances. These circumstances
make it more difficult, ” she
said.

Cayle Mortimer, Mr Mor-
timer’s grandson and the
first to arrive on the scene,























Family remembers
‘loving and giving’ man

said he saw attempts being

made to resuscitate his:

grandfather. His aunt was
very emotional and he tried
to comfort her.

Mr Mortimer said he saw
“Just a lifeless body.”

The victim is well-known
for his business, Mortimer
Candy Kitchen, situated on
East Hill Street.

For years, the business has
supplied home-made can-
dies and the famous snow
cones.

Ms Mortimer said her
father had been in the candy
business from a child, and
every day for a few hours he
went to the store and acted
as consultant.

Currently, his son Cornel
and daughter-in-law Beverly
operate the candy store. Mrs
Mortimer said that her

father-in-law knew every-.

thing about the candy busi-

SEE page 12



ire destroys
‘Lucayan

edical centre
in Freeport

THE Lucayan Medical Cen-

tre in Freeport has been
destroyed by fire.

Dr Marcus Bethel, who
managed the clinic, told The
Tribune that the fire broke out
around dawn on Friday before
the clinic opened, which was
fortunate because no-one was
there.

He said that investigations
are continuing but the prelim-
inary report suggests the fire
was electrical. The clinic had
been opened in 1968 and was

expanded in 1983.
\


















i MINISTER of Health
Dr Marcus Bethel

Two wounded
in shooting

TWO men were wound-
ed in a shooting incident in
Peacock Alley off Francis
Avenue, Fox Hill yesterday.

They were taken to

‘hospital, but their condition

was not known at press-
time.

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. PAGE 2, MONDAY, APRIL 18, 2005

THE TRIBUNE



Bee

PM seeks to strengthen relations

with the Turks and Caicos Islands









































































@ THE prime minister meets
school children during his visit.

VLE P29 FF ES 8, Bat Be, Be Pa Bs Ba Us Ba Be

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pcan ecolintzeie ttn sessed trendiest ub

@ By CARA BRENNEN
Tribune Staff Reporter

PRIME. Minister Perry
Christie has pledged that the
Bahamas will foster deeper
relations with the Turks and
Caicos Islands.

His remarks came at the
official opening of the new
N.J.S.. Francis legislative
chamber building of the Turks
and Caicos on Friday.

He also publicly thanked
the Turks and Caicos islands
for their prompt response and
financial contribution follow-
ing Hurricanes Jeanne and
Frances last year.

Mr Christie officially
opened the building with
Chief Minister of Turks and
Caicos Michael Misick.

“In the months ahead, we

will seek to concretise our

pledge to strengthen relations
by launching a number of ini-
tiatives, such as. the reactiva-
tion of the annual consulta-
tion between our two govern-
‘ments on matters of mutual
interest,” he said.

Education

Among matters to be dis-
cussed would be national secu-

that you offer tertiary schol- .

arships to all who make the
grade, but I caution you from
our own past experience to be
careful not to allow economic
growth to outpace the devel-
opment of your people.

“In like manner,.our coun-
try, The Bahamas, is also
experiencing an unparalleled

‘ level of growth. Despite the

effects of the two recent hur-

ricanes our tourism industry



“At a deeper
level, it is
symbolic of your
history, your
progress to
date and the

aspirations of the

rity, continued co-operation - -

in health, education, illegal
migration and areas of com-
mon economic interest, such

as tourism related issues, said :

Mr Christie.

He said the new building
was more than a beautiful edi-
fice.

“At a deeper level, it is sym-
bolic of your history, your
progress to date and the aspi-
rations of the people of the
Turks and Caicos Islands. In
truth, it is the place that
defines your democracy and
your progress as a people.”

~Mr Christie acknowledged
‘the close familial and co-oper-
ative ties which have existed
between The Bahamas and
the Turks and Caicos Islands
since 1799 when the islands
were placed under the juris-
diction of The Bahamas gov-
ernment.

Mr Christie noted that the
Turks and Caicos are poised
for a rapidly growing economy
through a number of planned
investments, but cautioned the
country to ensure that the
social side of investment is not

overlooked and, even more -
- importantly, to ensure that

issues such as the environ-
ment, migration issues and
balanced growth are closely
and prudently monitored.

“I was pleased to discover

\

people of the
Turks and Caicos
Islands. In truth,
it is the place
that defines your
democracy and
your progress as
a people.”
Sa Se ee as
Prime Minister
Perry Christie

is at the strongest'level it has
enjoyed in many years. .

“Our external reserves are
at their highest level ever and
the overall economic growth
rate will average around three
per cent per annum this year,”
he said.

He also used the opportu-
nity to thank the people of
Turks and Caicos for assisting
the Bahamas after last year ’s
hurricane season.

“The Chief Minister and his
delegation were the first for-
eign governmental delegation
to visit, touring the hardest hit
areas of Grand Bahama. You
not only visited but you were
the first, the very first, to con-
tribute to our relief and-recov-
ery in the significant amount
of $200,000.

“Many other governments
and international organisa-
tions subsequently came for-
ward but the magnanimous
gesture by the people of these
islands will not soon be for-
gotten by our people, espe-
cially those worst affected,
many of whom live in Grand
Bahama and Abaco and many
of whom are of Turks Island
descent.

“This is the kind of co-oper-
ation to which I refer when I
say ‘blood is thicker than
water’,” he said.

TROPICAL
arse a
a AAAI
PHONE: 322-2157



Orange

Hill Beach

clean-up

@ By TIFFANY GRANT
Tribune Staff Reporter

IN PROMOTING “envi-
ronmental justice”, mem-
bers of the New Providence
Community Church, along
with other environmentally
conscious citizens, flocked
to Orange Hill Beach on
Sunday to help restore it to
its natural beauty.

Carrying black garbage
bags, they went along the
‘coastal area cleaning the
ground.

Pastor of community
development Shaun Ingra-
hain told The Tribune there
are a lot of environmental
injustices, and the church is
trying to provide solutions.

He said members are
engaging in discussions sur-
rounding “environmental
justice” through clean-ups
and restoration of beaches.

“We are a part of one sys-
tem, one created order. In
John 3:16 it said: ‘God so
loved the World’. So often
we interpret that world as
just people, but we believe
that it means the whole
world, including the envi-
ronment, and the beach.

“So we are to live in har-
mony, not just with each
other, but with our environ-
ment,” said Mr Ingraham.

Phases

.The project consists of .
two phases, which include
the cleaning up of trash on
the beach and placement of
plants on the beach to help
anchor the sand, said Mr
Ingraham.

Other-groups involved in
the initiative are the Ocean-
ic Bank, Caves Village, the
Ministry of Tourism and the
Ministry of Environment.

Ruth Thackray, a resident
of Orange. Hill, has com-
piled a “First Do No Harm”
proposal, which outlined the
current situation at Orange

Hill Beach.

‘She recommended solu-

| tions such as garbage map- .
" agement, sand dune restora-

tion and protection of the
dune from car parking.

In her proposal she not-
ed the need for a newly-built
beach dune, which would’
consist of a mixture of loose
beach fill, rocks, sand organ-
ic matter, dead seagrass and
soil.

She advised beachgoers;
“Every time. you visit the
beach try not to stand on_lit-
tle plants and try to stand
on stones to access the
shorelines. Try not to park

‘cars on the beach and take

all garbage home.

“Do everything you can
to be a good citizen and
your children will respect
you, so that their children
can have something that
they will be able to go to in
the future,”

Chairman of the Coastal
Awareness Committee Earl-
ston McPhee said the initia-
tive is a great example to
utilise and encourage other
communities.

“T think it is the kind of
initiative we need in this

| country, where persons

within the community take
more responsibility as stake-
holder,” he said.





MONDAY, APRIL 18, 2005, PAGE'3

THE TRIBUNE &

Opponent of Haitian

illegal immigrants
‘fears for his life’

A LONE campaigner against
illegal Haitian immigration in
Abaco believes his life is in
danger.

Jeffrey Cooper claims he has
been threatened by immigrants
who he accuses of imposing
Third World standards on the
island.

“T think my life is at risk,” he
told The Tribune last night, “but
I don’t care because I know
what I’m doing is right.

“If the government does not
act now, there is going to be a
Haitian takeover of Abaco and
we are going to be in real trou-
ble.”

Mr Cooper, a photographer
and entrepreneur, has been out-
spoken in his condemnation of
illegal'Haitian immigration for
some time.

He regularly airs his views on
Radio Abaco, but is now trying
to force government action
through Minister of Works
Bradley Roberts.

He has written to Mr Roberts
to seek a meeting in Nassau.

As a result of his views, Mr
Cooper says he is threatened
by Haitians nearly every day.
“They challenge me and are
biggety with it,” he said.

Mr Cooper, a father of two,
says rampant illegal house-
building and lack of proper
sanitation are two urgent con-
cerns arising from the Haitian

- invasion.

He added that settlements
were now springing up in Aba-
co without planning approval
or proper waste disposal
arrangements.

“As a result people . are get-
ting sick,” he said: et

“There are people her how
with all kinds of mysterious ill-
nesses, stomach ailments and
soon... .

“The Haitians are digging
holes as lavatories and throwing



' dirty diapers on the ground.





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They even bury premature
babies.

“All this is affecting the water
table. Many Haitians here are
diseased. If nothing is done, this
is going to become a major
problem for Abaco.”

Last week, Mr Cooper said

“If the
government
doesn’t act
now, there is
going to be a
Haitian
takeover of
Abaco and we
are going to
be in real.
trouble.” ©





Jeffrey Cooper

many Bahamians would not
speak out because they feared
witchcraft.

Even pastors had told him to
“watch out” because of the
threat of obeah. “I keep being
told that my soul will end up in
Haiti,” he said.

But he said he did not believe
in obeah and would not be
intimidated. “I think Bahami-
ans are now getting to the point

eee aie are: prepated' to

* he said."

on nothing is saa. I think it
is going to be war eventually.
These Haitians are getting vio-
lent. They will curse you out.
They want their rights, even
though most of them are ille-







i JEFFREY Cooper says he will not be intimidated

gal.”

Mr Cooper said some
Haitians are now building
shacks not just for their own
use, but to go into the rental
business, with other immigrants
as.téfiants.’: 7? oy

“He'also-criticised then-bur-



jal'methods.saying, they: wétre

ignoring’Abaco.custom by
building tombs.

“They build tombs so they
can get back at the bodies for
obeah,” he said. “But the cus-

tom in Abaco has always been
to bury bodies six feet under-
ground.”

Mr Cooper is urging Abaco-
nians to put pressure on the
government so that the illegal
house-building is stopped.

“T want things to happen offi-
cially before people start to take
matters into their own hands,”
he said.

® SEE today’s INSIGHT

section for the full story of Mr
Cooper’s lone campaign

Children
are on
song for
opening

STUDENTS from
Deep Creek Primary
sing during the official
dedication ceremony of
the South Andros
Senior Citizens Home in
Kemp’s Bay.

Minister of Social Ser-
vices and Community
Development Melanie
Griffin and Lady Pin-
dling, widow of former
Lynden Pindling also
took part in the event
on Friday.



(Photo: Eric Rose)














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PAGE 4, MONDAY, APRIL 18, 2005

THE TRIBUNE







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

“Copyrighted Material
Syndicated Content

Available from Commercial News Providers”



EDITORIAL/LETTERS TO THE EDITOR












EDITOR, The Tribune.
PLEASE publish the fol-

lowing open letter to the

Minister of Education.








Hon Alfred M Sears, MP
Minister of Education,
Ministry of Education.

Dear Minister Sears,

THANK you for resolving
the emergency water supply
for Oakes Field Primary
School. However, we, the par-
ents of the school, remain
deeply distressed about the
continuing lack of attention
and resources the school
receives, especially since it
performs, if not the best,
among the best on GLAT
examinations year-in and
year-out!

The very caring and able
administrators and teachers
led by Mrs Beryl Gray, Prin-
cipal, are doing all they can
under the circumstances at
the school. It is past time for

more!

We have not had a music
teacher for the entire school
year, and only about eight
weeks remain. The.children
in the entire school have lost a
full year of music! Last year,
« and in previous years we had

a very good music teacher in

Mr Whyte. When school

reopened, Mr Whyte did not

return. We were informed
that he was transferred to
another school or district.
You have spoken often
about the need for the chil-
dren to read and rightly so,
but music;is also important.

Numerous surveys. have found

that introducing music, and

specifically playing an instru-
- ment and learning to read
music, causes the child to
develop cognitive skills, be
more focused in school, per-
form better academically and
improves behaviour, espe-
cially in the case of young
boys who tend to pose the
greatest challenges for our
teachers and administrators.
Given the above, Oakes Field
Primary School children have
unfortunately been at a sig-
nificant disadvantage this
school year.

A very critical person the
school does not have is a
Guidance Counsellor. Our
school, like many others, are
facing serious challenges with
young boys. The one place




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letters@tribunemedia.net




where professional interven-
tion can be of assistance is
through the school’s guidance
counsellor. Not only Oakes
Field, but every primary
school, without exception,
ought to have a professional
guidance counsellor, so that
early intervention can be
achieved, thereby helping our
young boys who face many
challenges. Every day that
passes opportunities for early
intervention are missed and
while these opportunities are

missed the individual situa-

tions.are worsening.

Some of the classes are
overcrowded. We have a Ist
grade class with almost 40 stu-
dents! How is it that the stu-
dents are to learn and get any
type of individualised atten-
tion? This also creates a very
difficult management job for

‘the teacher. Imagine, almost :

40, five-to-seven year olds in
one class!

As much as you have made
about the need for our chil-
dren to read, the reality is that
there is no library at Oakes

Field, none! Where are the
children expected to be
exposed to the habit of read-
ing, other than at home, and if
they are not exposed at.
home? Nowhere. If you are
serious about the children .

.. reading, and I have.no.doubt

you are, then facilities and
environs must be created to
encourage the children to
read. Ironically, it is primary
school, at an early age of a
child, where, if the child is
exposed to the joys of. read-
ing, it will become a part of
the child’s life forever.

We do not have a computer
laboratory at the school, com-
puter classes, computers for
the students to use in an infor-
mal setting, or to use for class
projects. In 2005! There is no
question that our children are
at a severe disadvantage not
learning computers when it is
being taught in probably
every private primary school.
And, what about being
exposed to the internet!
Every child cannot afford a
computer or internet access
at home and public library use
is costly.

The physical condition of
the classroom floors are noth-

_ ing short of atrocious. The

floors are supposed to be
tiled, but you would be for-
tunate to see any tiles when
you enter the classrooms.
Mostly, you see bare concrete
floors! This is unsafe, unsani-
tary and certainly not condi-
tions that children and teach-
ers should have to endure.
Yet, our children are expected
to learn in that environment
and to do well!



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Open letter
Minister
of Education

As you may be aware, a lot
of children walk to school.
However, the walkway from
the entrance to the classroom
blocks are not covered there-
fore it is commonplace for the
children to get wet and some-
times soaked when it rains.
The areas that are covered
are in such disrepair that they
present a health hazard for
the children.

When it rains, the slightest
rain causes flooding in the
entire area where parents
drop off and pick up their
children, we saw this several
weeks ago. The school is in
desperate need of painting
inside and out and the roofs

‘have been patched and

repatched. Perhaps a more
permanent solution can be
found. The school’s electrical
supply is insufficient to meet
the demands. :
The safety of our children is
a continuing challenge regard-
ing dropping off and picking
up the children. We are in
-desperate need of a separate
entrance and exit to the
school. I am certain you are
familiar with the very narrow
entrance to the school which
also serves as the only exit.
Children are exiting cars in
the street at times where two
cars cannot safely pass. At a ©
recent PTA meeting the par-
ents expressed considerable
concern about the need for a
separate entrance and exit.
We understand that cover-
ing of the quadrangle where
assemblies are held has been
in the plans for some time but
nothing has happened in that -

regard. Oakes Field Primary

School does not have an audi-
torium or large classroom to
hold the student population

~ which is almost 700 students.

The only place to have an
assembly is the quadrangle
which is in the open air,

‘exposing the children to rain.

In fact, for the past two years
we have had to discontinue
the award ceremonies due to
rain.

As to sporting facilities,
except for the recently-built
basketball court, there are no
facilities. There is no track,
soccer field, volleyball area,
baseball or softball field.
‘There are hardly any sport-
ing facilities at the school.
How are the children expect-
ed to grow athletically and
healthy?

There are a lot of serious '
issues that need to be. ~
addressed. We look forward .
to the Ministry of Education
resolving them expeditiously.
This letter will be made avail-
able to the public.

MICHAEL A FOULKES
A Deeply Concerned
Oakes Field Primary
School Parent
Nassau,

~ April 13, 2005.
























THE TRIBUNE

MONDAY, APRIL 18, 2005, PAGE.5



[ee
Time to make up our minds about

the future of Harbour Island.

Ip the wake of last week’s
explosive public meeting
in Harbour Island, local busi-
nessman Warren Grant opined
that the Romora Bay expansion
is something that is perceived
by native Brilanders to be in
their best interests, and that the
real motivation of the second
home owners in opposing the
project is their fear for the
rental market for private homes
once so many new hotel rooms
are built.

He suggests, too, that, while it
may suit the second home own-
ers to keep things just as they
are now, the local business com-
munity (of which he is a signif-
icant part) actually yearns for
more large hotel projects of the
kind promised by the Romora
Bay and Valentine’s Yacht
Club expansions.

Right or wrong, his is a point
of view advanced by many
locals.

Like many Harbour Isl-
anders, Mr Grant has clearly
witnessed with mixed emotions
the steady growth in the island’s
popularity as a second home
destination.

Tales abound of homes and
beachfront properties in Bri-
land quadrupling in price over
the last decade. In-one instance,
a home that was listed for sale
in the summer of 1990 for
$80,000 was recently sold for
more than $1 million.

he huge second home

community has gener-
ated a level of economic activi-
ty unheard of in any communi-
ty of comparable size in The
Bahamas (except, perhaps,
Spanish Wells, which follows a
very different economic model
altogether). It has also stamped
an unusual character on the

PERSPE

ANDREW

local tourist industry, with sea-
sonal repeat visitors staying not
in large hotels, but in either
their own private homes or
rental units.

W here has all of this
left the locals? Cer-

tainly, it has left them with jobs.
Reliable estimates suggest that
Harbour Island has negative
unemployment of up to -10 per

CTIVES

ALLEN

nesses are there for anyone who
actually visits the island for any
length of time.

Firstly, it has signally failed
to create anything resembling
a middle class on the island.
This is in stark contrast to the
intensive tourist industry in
New Providence or Grand
Bahama, which continues to
sustain the growth of a profes-
sional and entrepreneurial mid-
dle class.





“Ghettoisation is now sucha |
pronounced trend on this little |
island that it would probably

take many years to reverse —

even if we did have a govern-
ment up to the task.”



cent. This means that the island
must augment its workforce by
bringing in many mainland
Eleutherans (some from as far
south as Rock Sound and
beyond) as day workers.

All this has also led to a
huge upsurge in the importa-
tion of consumer goods onto
the island.

y et whatever the bene-
fits of the Harbour

Island economic model on
paper, certain glaring weak-

An Atlantis or Our Lucaya
creates such jobs simply
because it is'an undertaking of
such magnitude and sophistica-
tion that it requires services of
all kinds.

By contrast; a tourism indus-
try of the nature of Briland’s,
while it may indeed create
many jobs and bring in much
money, operates on a far nar-
rower employment base.

In fact, this base reflects
little more than the cumulative:
employment arrangements
of the various homeowners —



Bahamas on trac



implement passport
technology on time

@ By CARA BRENNEN
Tribune Staff Reporter

FOREIGN Affairs Minister
Fred Mitchell is hopeful the
Bahamas will have in place the
equipment needed for biomet-
ric passports this year ahead of
the October 2005 deadline.

Mr Mitchell said it was an
embarrassment that the matter,
which is a simple issue, has not
yet been done.

He explained that all that is
now needed is the special
machine to print the passports.

He said the delay had
occurred because the tender for
the machine went to bid and
because the ministry did not
want to invest in equipment
which did include the required
features.

However, he said he had
been assured by ministry offi-
cials that the new equipment
would be in place this year.

Changes

Mr Mitchell said once the
machine is in place, adjustments
in passports would be made as
persons came in to renew their
old passports.

However, he suspected that
once the technology was
in place, the passport office
would see a deluge of persons
wishing to convert their pass-
ports.

He said it was too early to
speculate on the cost of each
biometric passport.

US President George W
Bush has signed legislation
extending the deadline by.
which nationals of Visa Waiver
Program (VWP) countries must
provide biometric passports
upon entering the United
States.

The new deadline which has
been imposed by the Depart-
ment of Homeland Security
is October 25 2005, which is
also the date by which US
ports of entry must have the
equipment to read such pass-
ports.

Extension

Former Secretary of State
Colin Powell and former
Homeland Security Secretary
Tom Ridge had requested a
two-year extension to resolve

technical problems with the,

programme, as well as to deal
with privacy questions.

Biometric indicators are fea-
tures that can be definitively
linked to a given individual,
such as fingerprints.

Facial recognition technology
takes use of the standard photo
identification card to a new lev-
el of sophistication.

Rather than a border official
comparing a face to a passport
photo, a camera at the port of
entry captures the traveller's
image, then a computer vali-
dates the facial characteristics
of the individual presenting
the passport and the passport
itself.

Aware Hess

FOR 3 IN 1 LAWN SERVICE
Fertilizer, Fungicide,
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MONDAY
APRIL 18
6:30 Bahamas @ Sunrise - Live
j 7:30 Community Page 1540AM
11:00 Immediate Response
{2noon —ZNS News.Update Live
12:03 Caribbean Today News Update
12:30 Immediate Response
12:58 Caribbean Today News Update
1:00 Health For The Nation
1:30 Gimmie A Beat Il
1:58 Caribbean Today News Update
2:00 Mr. Ballooney B.
2:30 Treasure Attic -
3:00 Gospel Video Countdown
4:00 Lisa Knight & The Roundtable
4:30 Cybernet
4:58 &30 ZNS News Update LIVE



Caribbean Newsline
Cinema, Cinema, Cinema
















6:00 Holy Hip Hop

6:25 Life Line

6:30 News Night 13

7:00 Bahamas Tonight

8:00 You & Your Money

8:30 Batelco Special

8:45 Contact Magazine

9:00 Legends From Whence We
Came: Father Mel Taylor &
Malcolm Adderley

10:00 Sports Lifestyles: Bo Jackson

10:30 News Night 13

11:00 Bahamas Tonight



Immediate Response
Comm. Page 1540AM

" NOTE: ZNS-TV 13 reserves
the right to make last minute
gel ulmi: ( a






largely consisting of domestic
requirements.

Such professional require-
ments as individual homeown-
ers may have are handled either
in Nassau or back home.

Further, the demand for local
real estate, and the attendant
perpetual escalation of proper-
ty prices, are clearly a mixed
blessing.

Every year, the percentage
of properties in the choice areas
of the island owned by local
Brilanders dwindles further, as
locals (many of whom are with-
out the exposure and education
to make self-serving decisions)
sell off ever more of their fam-
ily property and invest the pro-
ceeds in dead-end con-
sumerism.

W hereas intensive :
hotel developments

by their nature concentrate vis-
itors to a limited physical area,
a model based on second home
ownership spreads this physical

. occupation to the point that it

competes (generally successful-
ly) with locals for space. In a
place as compact and urbanised
as Harbour Island, the
inevitable result is a form of
segregation that eventually
feeds off itself.

Unsurprisingly, then, Ghet-
toisation is now such a pro-
nounced trend on this little
island that it would probably
take many years to reverse
—even if we did have a govern-
ment up to the task! Also
unsurprisingly, crime has come,
too.

I: may very well be the
case that the Romora Bay

project is simply too big, too
environmentally intrusive and

too out of keeping with Bri- -

MELLEL
ULL

GL
Ldliddtidld,

CALE EEE
Wy

4

"SHOES FOR ALL WALKS OF LIFE"

land’s character to be responsi-
bly approved.

That will only be apparent
when and if the government
makes public the heads of
agreement it has signed with
the developer.

But the schism that is now
undoubtedly developing in Bri-
land points to matters much
deeper than one or. two indi-
vidual projects. It suggests an
island suffering the effects
of the age-old Bahamian ten-
dency simply to grasp onto
good times without a thought
of planning for the future or

even influencing the present. -
Briland has done well by
default, with no-one, ever
addressing seriously what kind
of community it should be:+a
second home community for
wealthy northerners, or a real
resort island characterised by
small and medium-sized hotels;
Thus far, all the elements at
play (locals, hoteliers, second
home owners) have simply co-
existed, since whatever diver-
gent visions for the island they
had had not reached the point
of overlap. Now it seems that
they have.

"GIFT & BRIDAL REGISTR

, cae Harbour Bay Shopping Centre - my
Co Ph: 393-4440 or 393-4448 - J

GR. Sweeting} Ss



STOREWIDE

SALE BEGINS
APRIL 14th

ALL SALES FINAL.
ALL MAJOR CREDIT
CARDS ACCEPTED.

Madeira Shopping
Plaza Store ONLY! °

Tel: 328-0703







PAGE 6, MONDAY, APRIL 18, 2005

THE TRIBUNE

ee a aaa eee eee eee

Author recalls slave
child experiences

TENDER NOTICE

COURIER SERVICE

The Bahamas Telecommunications Company Ltd. is
pleased to invite suitably qualified companies to tender
for Courier Services.

Interested companies can pick up a specification
document from BTC’s administration building on John

F. Kennedy Drive, between the hours of 9:00am to
5pm Monday through Friday. _

Tender must be sealed in an envelope marked “Tender
for Courier Services” and delivered to ned attention
of:-

Mr. Michael J. Symonette
President & CEO >
The Bahamas Telecommunication Company Ltd
| ~ P.O.Box N-3048
Nassau, Bahamas

Bids should reach th company’s administrative office
on John F. Kenedy Drive by 5pm on Ne April
27, 2005. |



BTC reserves the right to reject any or all tenders.

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Haitian author
Jean Robert Cadet, whose book
Restavec draws attention to child
slavery in Haiti, has been telling
Bahamian students about his
own experiences as a slave child.

Mr Cadet, who seeks eradica-
tion of the problem through
international pressure, was the

‘ special guest of honour at a lun-

cheon hosted by Mrs Frances
Singer Hayward on behalf of the

- Ministry of Education’s Book

Club for students of Jack Hay-

ward High School.

Mrs Hayward, the school’s
patron, has teamed up with Min-
ister of Education Alfred Sears in
launching a nationwide Minis-
ter’s Book Club to promote read-
ing among students throughout
schools in the country.

Mr Cadet was honoured that
his book was selected by the
Minister’s Book@Club.

At the lunch, students of Hait-
ian heritage sang the Haitian
national anthem and performed
a musical selection in French for
Mr Cadet, who was very moved
by the performances.

Significant

Patricia Collins, deputy direc-
tor of the Ministry of Education,
spoke on behalf of Mr Sears. She

. commended Mrs Hayward for

her significant financial contri-
bution to the Ministry’ s Book
Club. ~

Speaking at the luncheon, Mr
Cadet reported that 80 per cent

of the Haitian population is illit-

erate..

He noted that 400,000 children
in Haiti today are still denied an
education because they are sub-
jected to live as slaves under very
oppressive conditions.

Mr Cadet is leading a person-
al crusade of international aware-
ness of ‘restavec’ children in

_ Haiti.
He noted that children i in the

Bahamas are very forturiate.’
“This is my third trip to the

Bahamas and I feel over-

whelmed each time I come here.



Atlantis, Crystal Court
- Paradise Island

Solomon's Mines
Flagship Store
Bay Street







M@ MRS FRANCES SINGER-HAYWARD sreies Haitian
author Jean Robert Cadet with an authentic Bahamian fig-
urine. Mr Cadet’s book, Restavec, was selected by the Ministry

of Education’s. Book Club.

And when I listened to the
Bahamian young women singing
the Haitian national anthem in
French, it brought tears to the
eyes,” said Mr Cadet.

He explained that as a’

‘restavec’ child in Haiti he never
learned the Haitian national
anthem and was never allowed
to attend school on a regular
basis.

Despite his extraordinary
struggles, Mr Cadet made his
way to the United States where
he obtained a college education.
Over the past six years, he has
been travelling on speaking
engagements raising awareness
of the secret plight of children in
Haiti.

In addition to speaking at
many colleges and university, Mr
Cadet has also spoken to vari-
ous international organisations,
including the United Nations,
UNICEF, and Amnesty Inter-
national.

Although Article 32 of the
Haitian Constitution states that
school is “mandatory for every
child at government expense, Mr









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Cadet said it is not enforced.
“We have 300,000 to 400,000
children that are in slavery in
Haiti. They are abused, beaten,
mistreated and denied an vedu-_

‘cation.

Free ,

“This is why I have taken the
task of trying to free and elimi-
nate this restavec situation. I
hope that by exposing this to:the
world, it would put enough pres-
sure on Haiti that the govern-
ment will say enough is enough
and stop the restavec ‘situation °
so every child can.go to school,’ ”
he. said.

Mr Cadet stressed that Haiti
will never get-off the ground as a
nation if its children are denied

their fundamental right to an

education.
“The roots of democracy. will
not grow until you have an edu-

. cated group of people to make

sure that it is going to happen.
Without.an education you are,
not going to have a stable gov-
ernment,” he said.





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THE TRIBUNE

MONDAY, APRIL 18, 2005, PAGE 7





700,000 in donations for Queen’s



College campus development scheme

‘GENEROUS donations
from a group of old scholars
have got the Queen’s Col-
lege campus development
scheme off to a $700,000
start.

“Six “old boys” and one
former female student have
given $100,000 each to help
QC continue providing first-
class education through the
21st century.

The Queen's College
Foundation announced
$700,000 in donations from
seven distinguished old
scholars, launching QC’s

Campus Development Cam- -

paign.

“We are grateful to dis-
tinguished alumni of
Queen's College who have
come together to demon-
strate support of their
school and to launch the
Queen's College Campus
Development campaign
with a new Early Learning
Centre as part of Phase
One,” said Mr Dion Stra-
chan, deputy chairman of
the Queen's College Foun-
dation.

Donor

Sir Durward Knowles
(Class of 1934) and chair-
man of the Queen's College
Foundation, himself a donor
of $100,000, introduced oth-
er former QC scholars who
have also each donated
$100,000.

They are Captain Geof-
frey Brown, (Class of 1945),
trustee of Queen's College,
member of the board of
governors, trustee, the
Queen's College Founda-
tion; Sir Geoffrey John-
stone, (Class of 1944),
trustee of the Queen's Col-
lege Foundation; Mr John

Morley; (Class of 1947); Mr

Bs



# PICTURED following the ceremony during which the donations were made to the Queen’s College Foundation are: from



left Mr Dion Strachan, deputy chairman, QC Foundation; Sir Durward Knowles, Sir Geoffrey Johnstone, Mr Mark Munnines;
foundation treasurer, Miss Andrea Gibson, Queen’s College principal.

George Mosko, (Class of
1943); Mr Godfrey Kelly,
(Class of 1945). Mrs Betty
Kenning has made a similar
donation.

Mr Strachan added: "With
their help, we are creating
at Queen's College a sense
of place, a community of
learning for our aspiring
youth."

He added: "This is the

first step in.the Campus
Development Campaign.
Queen's College has a leg-
endary past, but an even
more glorious future.

“The time has come to
renovate Queen's College
for the students of the 21st
Century."

Ms Andrea Gibson, prin-
cipal. of Queen's College,
said: 1] nh (nen s pCollegs,

Pers

tats



(P.S. News/Features Photo By Keith Parker)

Foundation values the con-
tributions of old scholars
and friends of OC as they
continue to support the
vision of Queen's College.

Children

“These donations serve as
the first step towards the
building of the Early Learn-
ing Centre for children aged

2005 Lecture Series
Schedule

May 26, 2005
Senior Health

June 16, 2005
Men’s Health

July 21, 2005
Arthritis
Hin & Knee Replacement

August 18, 2005
Mental Health
Alzheimer’s Disease

September 15, 2005
Children’s Health

October 20, 2005
Cancer Awareness Month

November 17, 2005
Diabetes Awareness Month

December 15, 2005
Managing Stress &
Depression .

Time:

Astr. azeneca 2

Call 302-4707

three to five. We are look-
ing forward to a purpose-
built facility which will ben-
efit the littlest scholars," she
said.

Sit Durward, in a humor-
ous address, noted:
"Although I was no great
scholar, whatever education
I received can be credited
to Queen's College.

“My accomplishments as

an Olympic and world
champion sailor have made
mame well-known,
which is probably why I was
invited to chair this founda-
tion."

Sir Durward pledged: "As
Queen's College celebrates
its 115th year, these old
scholars recognise the role
that QC has played in
developing this nation.

“We are proud to invest
in its future.

“The Queen's College
Foundation welcomes all
old scholars and urges them
to play a part in the devel-
opment of Queen's Col-
lege’s sound investment in
the future."

Contribute

In turn, other $100,000
donors spoke briefly and
reminisced about their stu-
dent days at Queen's Col-

lege. "This is why we want
. to contribute to the founda-

tion, to ensure that the stu-
dents of today, in turn, will
achieve success and bring
credit to themselves, their
families, Queen's College
and the Bahamas,” noted
Capt Geoffrey Brown. _
Mrs Kenris Carey, presi-
dent of the Bahamas Con-
ference of the Methodist
Church and chairman of the
Queen's College Board of '
Governors, pronounced the
blessing and led a special
prayer for donor Mr John
Morley, who was unable to
be present due to illness.
Anyone, particularly old

scholars, wishing to make

donations, large or small,
are asked to note the appeal
slogan “Remember, Recon-
nect, Rebuild” and phone
394- 6389 or visit the web-
site.

FREE Health Lecture April

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Topic:

Date:

Venue: :
Q&A:
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6:00pm - 7:30pm

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Thursday, April 21st, 2005

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- Screenings: Free Blood Pressure, Cholesterol, and Glucose _

screenings to the first 10 persons to sign up.

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today.

Refreshments will be provided.

For more information

*| DOCTORS HOSPITAL

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PAGE 8, MONDAY, APRIL 18, 2005 | THE TRIBUNE.
LOCAL NEW

By sea or by air — crowds turn
out for yacht and jet show

M@ This sleek plane
drew the crowds...















CROWDS took the chance to explore some
of the world’s most luxurious boats at the week-
end for the three-day International Yacht and ;
Jet Show at the Hurricane Hole Marina. ;

There was alsothe opportunity to check out
the latest in private aviatio, as well as a few
old classics.




BB ...but there was still

room for this old warhorse (Photos: Mario Duncanson/

Tribune staff



@ INSIDE a modern jet



ad

nstruction Manager

pment Co





Nad

POSITION Develo
REPORTS TO: Vice President of Development



ESSENTIAL FUNCTION: 5
Plans, directs, and coordinates activities of designated projects to ensure that goals and objectives of

the development are accomplished within prescribed time frame and funding parameters by perform-
ing the following duties personally or through subordinate supervisors. Manage the construction of
assigned project site improvements including amenities on-site and off-site infrastructure construction.

DUTIES & RESPONSIBLITIES:
FE} Manage and assist the design team in reviewing construction plans, suggesting cost and time
saving methods, and improving construction coordination and equipment utilization.

[1 Manage and assist the design team in expediting subdivision approvals and other permits.

(J Prepare field reports, status reports, incident reports, construction schedules and other information
requested. :

&) Assist in the bidding and negotiation of construction contracts with general contractors.
E}] Administer the construction contracts and changes thereto, protecting Project's interest at all times.

E] Establish good working relationships with governmental inspectors, the design team and general
contractors.

E] iMenitar avi sonseustion costs during construction and suggest ways to avoid unnecessary costs.
E] Provide construction quality control, through regular monitoring of construction.

E} Participate in meetings with developer and design team as requested.

f Establish work plan for staff and contractors

E] Direct and coordinate activities of project personnel contractors to ensure project progresses on
schedule and within prescribed budget.

El Review status reports prepared by project contractors and modifies schedules or plans as required.
EG) Prepare project reports for owners, management, and others.

&] Coordinate project activities with activities of government regulatory or other governmental
agencies.



Bahamians only, please send applications and resumes by mail or email to:



Port Lucaya, Freeport
Douglas A Shipman mon’s Mines, Mall At Marathon
- V.P. of Development, Discovery Land -
Bakers Bay Golf and Ocean Club
Great Guana Cay, Bahamas

dshipman@discoverylandco.com

Deadline for Receipt of Applications is April 27, 2005



A COS social wark class, te AIDS Foundation, the Road Tratiie Department
and the Public Transit Authority join forces to break down the stigma of
HVIAIDS and promote sata sex, See page SC of tomorrow's Tribuns.





ie eae MONDAY, APRIL 18, 2005, PAGE 9
7% Moyer VM ee oo










@ Organiser Peter Bryant
speaking at the event





@ AN

exhibitor . 2 eee a i One of the
relaxing _ ; larger ships on
on deck display, Happy

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PAGE 10, MONDAY, APRIL 18, 2005

THE TRIBUNE





‘US passport requirements ©
will affect Caribbean tourism’

t& By SIR RONALD
SANDERS

(The writer is a former
Caribbean diplomat, now cor-
porate executive, who publishes
widely on Small States in the
global community).

FOR years United States cit-
izens have travelled into and
out of the Caribbean with no
more identification documents
than a driver’s licence. This will
change between now and Jan-
uary 1, 2008, and will have an
adverse impact on the regional
tourism industry.

It is the US government that
is making the change, requiring
all US citizens to have valid
passports to enter the US. Con-
sequently, they must have pass-
ports to travel out of the US.

Secure

On April 6th, the US
Departments of Homeland
Security and State announced
“The Western Hemisphere
Travel Initiative to secure and
expedite travel”. Under the ini-
tiative all U.S. citizens, will be
required to have a passport or
“other accepted secure docu-
ment” to enter or re-enter
United States by January 1,
2008.

In the past, Caribbean
nationals have been irritated
by the US requirement that
they must have passports and
visas to enter the US, while US
nationals enter Caribbean
countries on driver’s licences.

After 9/11, Caribbean and
other non-US travellers
became even more irritated
with travel into the US when
the US Department of Home-
land Security required visitors
to be fingerprinted and pho-

tographs taken of their eyeballs

at US ports of entry. Many
people saw this both as an
intrusion on their privacy and

as a humiliation.

This feeling was exacerbat-
ed by the fact that US citizens
were whisked through immi-
gration lines while visitors
endured lengthy periods wait-
ing in line to be interviewed by
immigration officers.

Caribbean nationals have
regarded the different treat-
ment accorded to them and to
US nationals as a double stan-
dard. They have recognized the
right of the US and any other
country to apply its own immi-
gration procedures, but they
have argued that these proce-
dures should be reciprocal.

In other words, if the US
required Caribbean nationals
to be in possession of passports
and visas to enter the US,
Caribbean countries should
equally require US nationals
to have passports and visas to
enter Caribbean countries.

But economic necessity won
the day over the personal
affront felt by Caribbean
nationals.

Caribbean tourism relies a
great deal on US tourists, and
since the vast majority of
Americans do not have a pass-
port and cannot be bothered
to get one, Caribbean govern-
ments were content to allow
them to enter their countries
on driver’s licences.

Now, all of this has begun to
change.

- Whisked

Anyone travelling into the
US recently would have
noticed that US citizens are no
longer being whisked through
immigration control at US
ports of entry. Now, US citi-
zens and residents are being
questioned as closely as for-
eigners although their finger-
prints are not yet being taken
nor are their eyeballs being
photographed.

The lines for US citizens and









mi RONALD SANDERS

residents at US immigration
control are now as long as
those for foreigners. .

All of this flows from the
extensive efforts by various
departments of the US gov-
ernment to strengthen home-
land security following the ter-
rorist atrocities of.9/11.

The Intelligence Reform and
Terrorism Prevention Act of
2004 (IRTPA, also known as
the 9/11 Intelligence Bill),
signed into law on December
17, 2004, mandated that the
Secretary of Homeland Secu-
rity, in consultation with the
Secretary of State, develop and
implement a plan to require
U.S. citizens and foreign
nationals to present a passport,
or other secure document when
entering the United States.

An official release from the
US Department for Homeland
Security quotes Acting Under
Secretary for Border and
Transportation Security, Randy



Beardsworth, as saying: “Our
goal is to strengthen border
security and expedite entry into
the United States for U.S. citi-
zens and legitimate foreign vis-
itors. By ensuring that trav-
ellers possess secure docu-
ments, such as the passport,
Homeland Security will be able
to conduct more effective and
efficient interviews at our bor-
ders.”

The Department did say that
“additional documents are also
being examined to determine
their acceptability for
travel”. However, such docu-
ments would have to “estab-
lish the citizenship and identity
of the bearer, enable electron-
ic data verification and check-
ing, and include significant
security features”.

The point is that US citizens
and residents travelling on doc-
uments such’as drivers’ licences
is now fast becoming a thing
of the past, and the Caribbean
tourism industry will be affect-
ed by it. |

In part, this is because the
vast majority of Americans do
not have passports, and they
have not needed one to travel
to the Caribbean. They have
simply hopped on planes know-
ing that their drivers’ licence
or social security cards are
enough.

Assumption

There should not be an
assumption that US citizens
will now automatically apply
for passports.

The reality is that only a

comparative small number of
US citizens have passports, and
these are business people or
those with higher incomes who
travel on vacation to Europe,
Asia or countries outside of the
Western Hemisphere.

Under the new rules, a
Caribbean vacation cannot be
spontaneous. It will entail
Americans being in possession
of passports or similar docu-
ments.

This is a reality that the
tourism industry in the
Caribbean has‘to take account
of now.

Industry

The industry should not
expect the US public to know
about the requirement that
they have passports by Janu-
ary 1, 2008 even though this is a
stipulation of their own US
Department of Homeland
Security. It is surprising how
little public attention has been
given to this development by
mainstream media in the US.

A, programme of education
should be launched in the US
with travel agents and tour
operators. And, national and
regional tourist offices based
in the US should each start ini-
tiatives of their own to educate
the US public about the
requirement for passports and
how to get them.

Undoubtedly, organisations
such as the Caribbean Hotels
Association (CHA) and the
Caribbean Tourism Organisa-
tion (CTO) are alert to the
necessity to launch such an
education initiative in the
US. But, money will have to be
invested in the initiative from
both the national and regional
levels, and allocations should
be made for such monies now
for the years 2006 and 2007.

Failure to do so will see Jan-
uary 1, 2008 arrive with a sig-
nificant reduction in the num-

ber of US tourists visiting the
Caribbean. :

The educational task will be
difficult, but it is not impossi-
ble, particularly if it is present-
# exactly what it is: a US
iment requirement of its
itizens to strengthen the
itity arrangements of their
own country. eS

The problem is overcoming a
lifelong US habit of not need-
ing a passport to travel to the
Caribbean.

It may be argued that the US
government will educate its cit-
izens about the passport
requirements and there is-no
need for the Caribbean to do
so. But, accepting this argu-
ment would be dangerously
short-sighted. ;

The financial implications for
the Caribbean tourism indus-
try of spontaneous vacations
not occurring, or holidays being
cancelled for lack of a passport,
are quite significant.

Reduction

. There will be a reduction in
the numbers who visit the
region in the immediate period
after the new passport require-
ments are introduced on Janu-
ary 1, 2008; it will be worse if
the Caribbean does not launch
an educational programme of
its own in the US.

(responses _ to:ronald-
sanders29@hotmail.com)







© It was reported in Satur-
day’s Tribune that President
George Bush was surprised at
tew US passport policy and
dered a review of the
Speaking at the Ameri-
pociety of Newspaper Pub-
lishers on Thursday the Presi-
dent said: “If people have to
have a passport, it’s going to
disrupt the honest flow of traf-
fic. I think there’s some flexi-
bility in the law, and that’s what
we’re checking out right now.”








THE TRIBUNE . MONDAY, APRIL 18, 2005, PAGE 11

BED BATH & HOME

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PAGE 12, MONDAY, APRIL 18, 2005

LOCAL NEWS

THE TRIBUNE





Bahamas real

_estate today
Q ‘Carmen Massoni

B@ TIME to sell your
home? You'll find there are
many considerations when
deciding on an asking price.
A real estate professional
provides you with informa-
tion regarding the current
market and what similar
homes are selling for (or not!)
in your area. However, the
agent won’t decide your ask-
ing price — the ultimate deter-
mination is yours.

Any responsible agent will
stress the importance of con-
dition — it’s an extremely sig-
nificant variable when buy-
ers compare your home
against others. Don’t be
tempted by what looks like
an easy way out — pricing
your home lower instead of .
making repairs.

You’ve heard it before —
“image is everything.” If your
home doesn’t look as good as
- or preferably better than -
the competition, you’re invit-
ing fewer or no offers. Buyers
look for the best value for
their money, and you need to
offer a home displaying
“pride of ownership.”

Take time now - before
you list — to tend to the most
important repairs. Prioritise
your repairs to maximise your
payback. Take care of the big
stuff first and then focus on
minor cosmetics.

History shows that buyers
offer $2 less for every $1 in
needed repairs, so simply
lowering the price yourself
instead of making improve-
ments will ultimately result
in disaster — either no offers
or offers so low you can’t
accept them. Take a profes-
sional’s advice — fix it now or
pay big later.



Government set to announce —
major development in Mayaguana

m By CARA BRENNEN
Tribune Staff Reporter

PRIME Minister Perry
Christie said the government
is set to announce a major
tourism and real estate devel-
opment on the island of Maya-
guna. ~
Mr Christie made the
announcement as he opened
the new Legislative Council
Chambers of the Turks and
Caicos Island on Friday and
pledged to foster stronger ties
between the countries.

He said the development is







FROM page one

part of his government’s plan
to place a major development
on each of the Family
Islands.

“Indeed, just to the north-
west of these lovely islands,
on the island of Mayaguana,
we are shortly to announce a
major touristic and real estate
development which will be
environmentally friendly and
which will forge linkages to
the islands around it, no doubt
including the Turks and
Caicos Islands.”

However, he said that no
matter what may be on the

Candy store
owner killed

trees lining the road.
The driver’s foot was severed in the acci-

developmental drawing board
“we, as a people, and espe-
cially those of us in positions
of public trust have a respon-
sibility to preserve and to pro-
tect our heritage for genera-
tions yet to come.”

He said this was a sacred
trust he was always concious
of and he had accepted “as
my duty to include such things
as the preservation of our his-
tory and our culture, our envi-
ronment and those things
which make us the unique
people that we are.’

Mr Christie travelled with

















people will keep getting killed.”

Many in the crowd which gathered at the
scene echoed her sentiments.

Mr Hanna said: “On behalf of the Com-
missioner of Police, Paul Farquharson,
and the entire Royal Bahamas Police Force,
I would like to extend my sympathy to
the Mortimer family at this very difficult
time.

“The Mortimers are a Bahamian institu-
tion and we feel the pain the family is feel-
ing. I am hopeful that the investigation will
be concluded quickly.”

Two persons remain in Princess Margaret
Hospital after a man, yet to be identified,
lost control of his vehicle on Sir Milo But-
ler Highway on Thursday and crashed into

dent. Police say speed was definitely a fac-
tor in that crash.

On Friday, 44-year-old Patricia Fox of
Mitchell Street, Adelaide Village, died
when she lost control of her pick-up truck
and crashed into a utility pole on
Carmichael Road.

Noting the carnage on New Providence
roads over the last week, Mr Hanna said:
“We have been sending out advisories
against speeding and operating in a manner
likely to be deemed dangerous to the pub-
lic.

“And we continue to advise pedestrians
to be careful when crossing the streets. As
the old caution goes, look right, then left,
then right again.”





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Obie Wilchcombe, Minister
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FROM page one

she said.
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Family remembers

ness and his presence at the store made a difference.
“Sometimes he would walk in the store and persons would
reminisce with him. He loved the candy business - it was his life,”

His daughter told The Tribune that her fondest memories of
her father are of him playing with his grandchildren and taking

She also remembers him sitting around the table talking with
his lodge brothers, who usually came to their home every

Mr Mortimer is survived by his wife of 53 years, Gloria, eight
children and adopted daughters.

Affairs, and Keod Smith, the
Ambassador for the Environ-
ment. Mr Wilchcombe and Mr
Smith both have Turks Island
roots.






















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PAGE 14, MONDAY, APRIL 18, 2005 oa THE TRIBUNE

INTERNATIONAL NEWS

Representative hopes to persuade

re to come to the US

Haitian, eairighted Materae US
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TENDER NOTICE






The Bahamas Telecommiunieaons: Company Ltd.,
wishes to invite tenders for the construction of its —
Customer Service Building in Simms, Long Island.




Interested companies may collect’ a tender specification
from the office of the Vice President/Planning &
Engineering in BTC’s administrative building on John
F. Kennedy Drive or at BTC’s office in Deadman’s Cay,
Long Island, between the hours of 9:00 am and 5:00
pm, Monday through Friday.








Tenders are to be in a sealed envelope marked
“TENDER FOR CUSTOMER SERVICE BUILDING” and
delivered to the attention of:





Mr. Michael J. Symonette

President & CEO

- Bahamas Telecommunications Company Limited
John F. Kennedy Drive

Nassau, Bahamas






All tenders must be received by! 5: 00 pm on Monday,
May 2, 2005. Tenders received after this date will not
be considered.




ner fie ee . ae



Located on a top-oftheill eon Sires, next doer to ce ae

DANCES Ee EU Maer arg Ie
pee) eRe ul Fam-Spm (Sat) :




BTC reserves the right to reject any or all tenders.





MONDAY, APRIL 18, 2005, PAGE 15

THE TRIBUNE



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THE TRIBUNE MONDAY, APRIL 18, 2005, PAGE 17

College

of the
Bahamas
sraduate
gives back

ONE of the greatest
moments in a college/univer-
sity student career is-gradua-
tion. It signifies the success-
ful end to one journey and
anxious hopes for another.
However, for that
college/university, one of its
greatest moments is when
those graduates return to
their alma mater in an effort
to further enhance and
develop the institution.

_ Ken Coleby, a 1985 gradu-
ate of the College of the
Bahamas, is creating one of
those moments for the Col-
lege of the Bahamas. Today,
for the seventh consecutive
‘year, Mr Coleby and his col-
leagues are donating monies
that would assist young
musicians.

Concert

- In 1997, the Friends of
COB’s Music Department,
established a concert “An
Evening of Classical Music”,
the funds of which are ear-
marked for the development
of a music student or the
music department at the Col-
lege of the Bahamas. The
group has since expanded
and is now known as Artist
Guild International.
«. A music teacher at Gov-
ernment High School, Mr
Coleby, launched the award
seven years ago. As a former
student, Mr Coleby under-
Stands the importance of
financial assistance to an
aspiring musician and the
continuous need for equip-
ment upgrade.
« “When the idea of the con-
cert was conceived, it was
solely intended to raise funds
to assist students with pursu-
ing their degrees,” said Mr
Coleby.
5 e
Music

“But we’ve since indicated
that if the music department
has a need for a piece of
equipment or instrument to
further enhance its pro-
gramme, then certainly we
want them to do that as
well.”
. This year’s concert was
held on March 17th at Gov-
ernment House and featured
musical talents from the high
schools, the College of the
Bahamas and local profes-
sionals.
. .Head of COB’s Music
Department Pauline Glasby
said that in addition to pro-
viding young persons with
opportunities to pursue ter-

_ tiary education and expose
their musical talents, the
group of musicians, headed
by Mr Coleby, ought to be
commended for their efforts.

“They too are young musi-
cians,” noted Mrs Glasby. wal
“So for them to have the ban ;
foresight to produce a con- ; Kis = Bees gaia thas oie Mae ame mere EG 8
cert with the benefactors , eee Ba aN aa : a
being young persons, who cp jae S
want to pursue music as a “ ‘ net MES) go ey See
career, is highly commend- : oe
able. We will certainly = z ft.
endeavour to support them ie , bee
with their undertakings.”









Mercedes-Benz - a brand from DaimlerChrysler. : A few of the accessories are not included in'the series-version. - .





a Mage i Ht ina i aWitde

C-Class. Dynamics as never before.





On one hand, the C-Class’ sporty | car’s modern interior. You will fall in love — is nearest to you, please visit our website

personality inspires movement. On the other, with the sporty wheels, the bi-xenon at www.la.mercedes-benz.com

+

_ it paralyzes you with its daring design. Sitin headlights, and with the performance of our

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps - wheel and appreciate the incredible view. certainly the best option. You’ll see how hard

you are raising funds for a
good cause, campaigning This is the perfect place to contemplate the __it is to get out of it. To find out which dealer . Mercedes-Benz

front of the multifunctional leather steering gasoline and diesel engines. The C-Class is

for improvements in the

; area or have won an cSC-01
award. Tyreflex Star Motors, Ltd.

If so, call us on 322-1986 . Nassau — Tel. (242) 325-4961
and share your story. |







PAGE 18, MONDAY, APRIL 18, 2005

THE TRIBUNE








Vee sel Daligpsise! Io:
wi Soe Sour Coil}

Gregory A. Sweeting —
President & CEO

I. Chester Cooper
Senior Vice President & COO











LOCAL NEWS

Breezes in the
MIX with US



radio station

OHIO-based radio station
MIX 96.7 WBVI recently
broadcasted live from the
pool deck at SuperClubs
Breezes Bahamas.

Tom and.Beth, the sta-
tion’s morning show per-
sonalities, brought a group
of come-along group of 38
persons. WBVI is one.of the
top hot-adult: seo Tats SY

peeseeys
AMER TV ON

(Hot AC) stations in the
Findley area and Tom Sum-
mers and Beth Wilson are
the hottest morning show
duo in their county and sur-
rounding counties. During
their broadcast, which pro-
moted the-islands of the
Bahamas and the Super-
Clubs-brand, they inter-
viewed Vernice: Walkine,

deputy director of tourism
for the islands of the
Bahamas; Kendal Major,
senior public relations man-
ager, Bahamas News
Bureau; and Jaton Johnson,
public relations coordina-
tor, SuperClubs Breezes
Bahamas. Pictured are

“Beth; Walkine, Tom, and
“Johnson. @

2 Mr Sweeting t to develop strategies and the achievement of el company i
annual targets. The Board of Directors has requested that Mr Sweeting act
in the capacity of Resident Director while continuing as President and CEO
at this time.

“In this unique environment, Mr. Cooper has a challenge ahead of him.
He assumes operational responsibility for a strong company with roots
that go deeply into the fabric of our Bahamian society. We expect to see
him take the company to new levels of success in the future.” said Mr
Sweeting i in releasing this announcement.

Established 1920

A strong link in your financial future





THE TRIBUNE MONDAY, APRIL 18, a PAGE 19



INTERNATIONAL NEWS

Excitement builds ahead of
secret vote for the next pope









ak

Copyrighted Materialâ„¢
(Syndicated, Content

Available from’Comme Commercial ‘News Providers”
?










were wel!







Montrose Avenue
Tel: (242) 322-1139
Website: www.saintgeorgesbahamas.com
“Sharing The Gospel, Living The Ministry”

GOOD NEWS, SHARE IT

| St. George’s An nglican Church

join St. George’s Anglican Church Family
Celebrates its 56th Patronal Festival

Good News Service nightly at 7:00 pm
Tuesday 19th - Thursday 21st, April,.2005
Missioner: Fr. Atma Budhu
Rector: St. Gregory’s |

Theme: .
“Evangelism through —
MISSION, LITURGY, MINISTRY”

OVERSEAS POSITIONS

Exciting opportunities to work in a fast growing Fund Administration Company in |
. Southern Europe. Gain Int’] experience and enjoy lifestyle of Spain and the
professional work ethic of England by working in Gibraltar.

Position: FINANCIAL/ FUND ACCOUNTANT

¢ Experience in Fund Accounting/ Administration covering umbrella funds,
fund-of-funds, hedge funds, real estate funds etc.

¢ Preparation of weekly Financial statements

° Assist in setting up operational procedures and financial accts for new
funds and for future offices to open worldwide.

¢ NAV calculations (daily, weekly, mthly) to include downloading of trades,
price validation, liaising with brokers and custodians

¢ Preparation of audit packs

¢ Liaising with FSC on financial statements and FSC reports

¢ Must be willing to relocate for a minimum period of two years

Ideal candidate will be professional, proactive, well organized, with ability

to manage other employees. Accounting qualifications req’d. Salary

commensurate with experience.

Mass, Holy Eucharist
Sunday, 24th April, 2005 ¢ 9:00 am
Guest Preacher:

Fr. Ernest Pratt, Rector
Companion Parish of St. Paul’s,
Long Island



Service of Thanksgiving Procession,
Benediction & Fellowship
Sunday, 24th April, 2005 ¢ 3:30 pm
Guest Preacher: Canon Harry Bain
Rector, Pro - Cathedral,
Christ The King Parish
Freeport, Grand Bahama




Position: CORPORATE LAWYER





e Will work for an established law firm in growing offshore jurisdiction
* At least three years experience in the Fund Industry

¢ Must be willing to relocate for a minimum period of two years

¢ Must be English Qualified

e Salary commensurate with experience




All interested applicants please forward resume by e-mail to: accountsgib@yahoo.com Le Family Entertainment ~ Faniily Meditations

Featuring “Da bes’ Talent in Da Valley”. — Saturday, 23rd April 9:00 am
Resumes must be received by April 29th 2005 J i eee ee April, 7:00 pm BV CLUEY COLL 8 CILLKY





PAGE 20, MONDAY, APRIL 18, 2005 . _ THE TRIBUNE
INTERNATIONAL NEWS

Spaceship carrying U.S.-Russian crew and —
Italian docks at international space station —





-



t+ ante em ~
' ghee re

a
a
NN
“ANSBACHER

2. ao ~ ANSBACHER (BAHAMAS) LIMITED.
TENDER FOR GSM CONTENT SERVICES : : ae

Ansbacher in The Bahamas invites applications from
qualified individuals for the position of:

INVESTMENT ADMINISTRATOR

' The Bahamas Telecommunications Company Ltd. (BTC) is seeking suitably
qualified companies to submit tenders to provide the company with GSM
Content Services. ; Cae

. The successful applicant will report to the Head of Investment Services and:
will be expected to assist Trust Officers in fulfilling their fiduciary obligations
with regard to monitoring quoted investments and tracking their performance | |
against agreed benchmarks.

Please note that companies must fully meet all pre-qualification specifications
prior to obtaining the actual tender document. The pre-qualification
specifications are listed below:

1) Company profile of tenderer (overview of company, company
background, number of years in operation, listing of present and
past clients including contact information). :

_2) Company must be 100% Bahamian owned.

3) Company ownership (listing of principal/beneficial owners,

. directors and operators of company. If.a joint venture, specify
participants and terms of joint venture).

4) Full liability insurance of $1, 000,000.00.

5) Acopy of valid business license.

6) Copy of National Insurance certificate.

7) Total number of employees.

8) Three written references from persons/businesses for which
similar contracts were successfully completed within the last
three years and the Company must provide references from
current clients utilizing their content services.

9) Bank reference showing financial viability.

10) Copies of financial statements (audited/unaudited) for last three
years of operation.

11) Company must have provided Content services for a period of

3 to 5 years. .

12) Company must be able to provide local and international (North —

America, Caribbean and the U.K) content.

Essential Required Attributes: ©
** Strong analytical skills
*= Understanding of basic investment management and capital markets
** Good communication skills, verbal and written |
** Team player with proven ability to contribute to the overall success of

_ investment risk management
*= Computer literate in Microsoft Office; particularly in the use of Excel

spreadsheets, Bloomberg proficiency and database skills.
\

Primary Responsibilities:
** Assist witn the preparation of Trustee Investment Policy Statements and.
~~ »~the setting of appropriate performance benchmarks.

** Undertake investment performance reviews by sourcing relevant information
from trustees, valuations, internal and external managers and comparing
the results to the agreed benchmark and providing the results of such
reviews to the Head of Investments and the Trust Officers.

“ Ensure receipt of and collate quarterly performance and transactional
documentation from 3rd party investment managers.

= Update and maintain client ledgers to reflect transactions over 3rd party
investment accounts.

** Ensure that all 3rd party investment business activities are monitored in

Pre-qualification items must be submitted in sealed envelopes marked “ al es'
accordance with Group policies and procedures.

PRE-QUALIFICATION INFORMATION FOR GSM CONTENT
SERVICES “, and delivered on or before 4:00 pm. on April 28, 2005 to

the attention of: _ * Keep abreast of entire Ansbacher service offering, and in conjunction with

the Head of Investments, give feedback and recommendations to Trust

Mr. Michael J. Symonette Officers.

President & CEO

The Bahamas Telecommunications Co. Ltd.
#21 John F. Kennedy Drive

P.O. Box N-3048

Nassau, The Bahamas

Series 7 certification and evidence of continued professional development
would be an advantage.

Contact:

Human Resource manager
Ansbacher (Bahamas) Limited
P. O. Box N-7768

Nassau, Bahamas

Fax: 325-0524

BTC reserves the right to reject any or ail tenders.





THE TRIBUNE

MONDAY EVENING ~ APRIL 18, 2005

P| 7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30

: NETWORK CHANNELS
= Antiques Road- |Antiques Roadshow Circa 1820 |Soundtrack of the Century Rock | American Experience Racial ten-
WPBT |show FYI © {Sunderland figurines; radio tran- [and Roll combined blues, country, sions abound between Americans
(CC) script of Peat! Hatbor bombing. — |gospel and jazz. © (CC) and Hawaiians. (N) (CC) (DVS)
The Insider (N) {Still Standing — |Listen Up Everybody Two and a Half /CSI: Miami “Killer Date” Horatio
@ WFORIn (co) “Stil Holding’ (N) |“Ebony and [Loves Raymond /Men (N) 1 (CC) gels echanging information about
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GB WTVd |wood (n) (co) A explosive seh an pate (CC) ties” 1 (CC)
lown car. 0
Deco Drive Nanny 911 “King Family’ Nanny [24 “Day 4: 12 Midnight-1:00AM" The! News (CC)
@ WSVN Stel ids a family of ao ivy in}CTU apprehends the man who shot
cramped quarters. (N) © (CC) —_|Marwan's associate. (N) :
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@ wPLG (Cc), “ How'd They Do That? “Ali Family’ |nate two women before starting the overwhelmed family with five chil-
Nn (CC) hometown dates. (N) © (CC) dren gets much needed:-structure.
; ‘ 4 CABLE CHANNELS
:00) Cold Case [Airline “Fun and [Airline ‘Live and |Growing U Growing Up Growing U Growing U
A&E tie (CC) —-|Games” (CC) [Let Fly’(CC) _ [Gotti "Profes- (Gotti Raco con- |Goti “The Bod: |Gotl “Paulin the
; sional Help” (N) test; karate. jmother’ (CC) — |Famiy”
BBC World World Business |BBC World {Click Online |BBC World — {Asia Today
BBCW News Report News News
BET BET.com Count-|* x CLASS ACT (1992, Comedy) Christopher Reid, Christopher Martin. |Club Comic View
down Anerd reluctantly swaps identities with a paroled felon.
Cc Coronation — |SEX TRAFFIC (2004, Drama) ia 2 of 2) Anamaria Marince. Sisters be-|The National (CC)
CB Street (CC) come caught in an intemational prostitution ring. (CC) (DVS)
CNBC re Ni rf With |The Contender © (CC) Dennis Miller The Big Idea With Donny Deutsch
Conan O’Brien
:00) Anderson Paula Zahn Now (CC; Larry King Live (CC) CNN Presents “Day of Terror: Re- °
CNN [Gears Pamintowess Familie lnm cehona cy
* OUT COLD (2001, Comedy-Drama) Jason London, Lee Majors, Willie |South Park Ms, /Blue Collar TV |Blue Collar TV
COM Garson. A snowboarders’ haven is tumed into a yuppie retreat. (CC) cane lee in-|“Health” © (CC) Me Mi ee ;
us crash. edneck. !
Cops 1 (CC) |The Investigators “Fatal Betrayal: |Forensic Files Forensic Files |Forensic Files {Forensic Files
COURT Sheree
That’s So Raven| * x AIR BUD (1997, Comedy-Drama) Michael Jeter, Kevin Zegers, _|Sister, Sister Tia |Even Stevens
DISN Corey shoplifts, Wendy Makkena. A lonely boy discovers a dog with a nose for basketball. jand Tamera skip Ree on
(CC) ‘PG’ (CC) an exam. ouis.
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. Jackson Trial and Kate Hudson. (CC) process with plastic surgery.

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incinnati, (Live) (CC)

[ESPNI [fimdeses [foscees Goles de Italia |Beach Soccer (N) Poker 2004 U.S. Championship.
(N) pana (N) (N)
Daily Mass: Our |The Journey Home (Live) Live From the Vatican, With Ray- |Holy Mass.for the Electing of the
Lady mond Arroyo Supreme Pontiff

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FITTV axa a CCC] n(cc) (A




Upper Body Strength” (CC)

Fox Report- |The O'Reilly Factor (Live) (CC) — |Hannity & Colmes (Live) (CC On the Record With Greta Van.
FOX-NC Shepard Smith : eee : Oe Susteren (Live) (CC) .

; ~ ](-00) MLB Baseball Tampa Bay Devil Rays at New York Yankees. From Yankee Stadium in /Best Damn Sports Show Period
FSNFL [ft hone KY (subj Blackout (Lie) (live) (CC)
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Golf Tavistock Cup -- Day One. From Isleworth Country. Club in Florida,

(00) Weakest [Who Wants to Be a Millionaire 1 |Weakest Link M (CC) _ |Celebrity Blackjack (CC)

ink M (CC) |(CC)

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GaTech etn [Meat emer ses. 0 |W

:00) Walker, [Touched by an Angel “Mother's |Judging Amy Amy and Maxine are |Judging Amy Three young men
HALL ies Ranger Day’ The ayaels revisit a grieving see when their estranged rela- |Amy assigned to community service

(CC) mother whose young son died. —_tive visits. M (CC) ___ fare killed while on the job...







~ |Holmes on Rooms That ~ - |Design‘U “Scott's|Debbie Travis’ Facelift “Lawrence |Holmes on Homes “Wash & Weep” | ..1.
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Morris Cerullo ' {Breakthrough |R.W.Scham- — |This Is Your Day|Life Today (CC) {Inspiration To: |LoveaChild © |
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The Batman |Sabrina,the | The Fresh Friends Monica |Will& Grace | Everybody Everybody
KTLA __ |The Catand the Teenage Witch [Prince ‘of Bel-Air pans sexy Valen-|Grace thinks Will |Loves Raymond |Loves Raymond
Bat’ (CC) 0 (CC) (CC) ine’s Day. |has secrets. Ray can't sleep. | (CC)
MORE SEX & || Married a | Married a PERSONAL EFFECTS (2005, Suspense) Penelope Ann Miller, Casper
LIFE THE SINGLE — [Princess Cather- Princess Charity |Van Dien. Premiere, An attomey investigates a disappearance and a
ine Oxenberg. —_ |benefit. (N)

MOM (2005) stalker. (CC)

:00) Hardball |Countdown With Keith Olber- |The Abrams Report Scarborough Country
msnec |"! on :



NICK The Fairly Odd- /SpongeBob [Drake & Josh _|FullHouse 1 /FullHouse |Fresh Prince of |The Cosh
Parents 1 (CC) |SquarePants 1 | (CC) (CC) (CC) Bel-Air Show 1 toc)
Still Standing | Fear Factor “Las Vegas Pairs Las Vegas “Montecito Lancers” |News (CC) |News
NTV Sil Holding” {Show 1 (CC) (CC) :
[OLN [fy ee In- [Boston Marathon (CC) - Avalanche Dogs |E-Force (CC)
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TBN Jakes (CC) —_|Scenes (CC) : Franklin (CC) —|(CC)

Everybody MLB Baseball Atlanta Braves at Houston Astros. From Minute Maid Park in Houston. (Live) (CC)
TBS Lue tered

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TLC e Big One” - | Feeling” An artist accidentally cuts :

(CC) his hand off. (N)

(:00) Law & Or- Law & Order Detectives probe the |Law & Order “Formerly Famous’ NBA Basketball Denver Nuggets at
TNT der “Dazzled” 1 |poisoning death of a con man pos- |The detectives investigate the Phoenix Suns, From America West

(CC) (DVS) + Jing as a grief counselor. 1 shooting death of a singer's wife. {Arena in Phoenix. (CC)

Ed, Edd n Eddy |Ozzy & Drix [Krypto the Su- |Codename: Kids/Mucha Lucha | Teen Titans . onball GT
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(:00) Law & Or- |Law & Order: Special Victims Unit/Law & Order: Special Victims Unit)Law & Order: Special Victims Unit
USA der: ea Vic-/A murdered woman's twin.may have)“Asunder’ A police officer is accused|A fired security quard may have
tims Unit © —_stolen her identity. (CC) of raping his wife. (CC) committed a murder. ca,

VH1 Reality Secrets /Breakups © Save the Music: A Concert to Benefit the VH1 Save the Music Foun-
; Revealed 2 1 dation From the Beacon Theatre in New York City. 0





Home Improve- |x» KRIPPENDORF’S TRIBE (1998, Comedy) Richard Dreyfuss, Jenna |WGN News at Nine © (CC)
WGN ment ‘Too Many |Elfman, Natasha Lyonne. A desperate anthropologist creates a fictional

Cooks” ‘tribe. 1 (CC) ;
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Everybody 7th Heaven When Simon’s current |Everwood On the moi ofhis /WB11 News at Ten With Kai
Loves Raymond pilin confesses to him that she. | Juilliard audition, Ephram leams that/Tong, Jim Watkins, Sal Marchiano
(CC) jas an STD, he panics. Madison was pregnant. (N) & Mr. G (CC)

Half & Half © |Dr. Phil

Jeopardy! (N) |OneonOne — {Cuts Tiffany neg- |Girlfriends Joan
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ea 4% MY HOUSE IN UM- |Rehab Following a 30-day rehab pean addicts and | *% ENVY (2004) Ben Stiller, A man
RIA a Drama) Maggie Smith, |their families work toward recovery. (N) © (CC) becomes jealous of his wealthy
Chris Cooper. M (CC) friend. M ‘PG-13' (CC)
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HBO-E

:00) * % * DEAD AGAIN (1991, Suspense) Kenneth (Deadwood Alma proposes forming |Deadwood “E.B. Was Left Out’ Tol
HBO-P bree aie ra i ili Hh

murdered pianist. 0 ‘R’ (CC) owner. 1 (CC) cott's mess. M (C
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tor’s dulcet-toned wife. O ‘PG’ (CC) tack bond at a novelist's home. 1 (CC)
(6:30) * LOVE ACTUALLY (2003, Romance- | &» SYLVIA ee Biography) ane Paltrow, Daniel Craig, Jared
HBO-S __|Comedy) Alan Rickman, Bill Nighy Various people deallHarris. Writers Sylvia Plath and fed Hughes get married. 1 ‘R’(CC)
with relationships in London. 1 ‘R’ (CC)
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MAX-E {REPLACEMENT

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KILLERS (1998) |the memories of their relationship. © ‘R’ (CC) nderson. © ‘R’ (CC)

* * JOHNNY ENGLISH (2003, Comedy) Rowan | WHAT A GIRL WANTS (2003, Comedy) Amanda Bynes, Colin Firth,
Atkinson, John Malkovich. A bumbling agent tries to re- Kelly Preston. A plucky teenager goes to London to meet her father. 0
cover stolen jewels. 1 ‘PG’ (CC) ‘PG’ (CC)

(i 5) &% DESPERATE MEASURES (1997, Suspense)|The L Word “Late, Later, Latent” Fat Actress Penn & Teller:
SHOW Michael Keaton. iTV, A San Francisco cop looks to a cry) Jenny leams the truth about Kirst ee se Bulls... Prevent-
a deal. ing aging.



murderer to save his son. 1 'R’ (CC) ur, 1 (CC)



i wetok% lt» KALIFORNIA (1993, Drama) Brad Pitt, Juliette Lewis, David + x NO GOOD DEED (2002, Sus-
TMC —_|HOPEAND Duchovny. A writer becomes fascinated with man's homicidal urges. 1 |pense) Samuel L. Jackson, Milla
L GLORY (1987) |'R’ (CC) Jovovich. 0 ‘R' (CC)



MONDAY, APRIL 18, 2005, PAGE 21.

let Charlie the
Bahamian Puppet and | ly
his sidekick Derek put |

some smiles on your

kids’s faces.

Bring your children to the
MctHlappy Hour at McDonald’s in
Oaks Field every Thursday
— from 3:30pm to 4:30pm during the
month of April DOOB i 4 2,

Enjoy Great Food, Prizes and Lots of Fun.

Blie \ Nese

ime: ‘Second Floor of

Doors open 11pm

Admission:

$7 w/ Movie Tickets
$15 without
Movie Pass Giveaways!



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City Markets Harbour Bay
Super Value Cable Beach

City Markets Lyford Cay





















THE TRIBUNE MONDAY, APRIL 18, 2005, PAGE 23%







ARIBBEAN NEW

= ~

“Copyrighted Material
Syndicated Content



of dokydiation ty adults
and pbtidien

a . fgude on ol Uatamtento
| ae bs deshidvatactén

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The Book that Stopped
a Killer
im fis Tracks!

prizes, giveaways plus BACARDI drink samples!

HOW TO ENTER:
PURCHASE BACARDI GOLD 1.14 LITRE & ANY BACARDI RUM PRODUCT 750ML OR LARGER

paperback-$6.49 Harbour Bay Shopping Plaza | ROA ane ELTA
(not available in US) Tel. 394-7040 DROP INTO BOK AT PARTICIPATING BURNS HOUSE OR BUTLER & SANDS STORES
a cemamnmmemnsemsnamemsnened| Guibas info@logoshahamas.com LISTEN TO 100 JAMZ ON FRIDAYS TO SEE IF YOU ARE A WINNER!
Quantity rights reserved. ~ www.logosbahamas.com TAMU TID Dee ERS eRe wage eleanor hd

Prices goed while supplies last.
RNR aT GU TE ROMA RM Olly 3 Ug Oa Lae) ARE NOT
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large T-topping pizza |
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NOW OPEN “and 2-1207. ( Cokes
ae Hill Reed Store eee
tore Hours: ees ‘
Sunday-Thursday Vam-12am i 2 Personal Ltopping p
Friday-Saturday Wam-lam
(Opposite W..8) 1 Cheesy Bread and
Calls 325-3998 22-1207, Cokes













Bay Street Marathon Mall Harbour Bu Grand Bahama
828-0000 393-8080 393-830 " Port Lucaya 373-8000 ;



UN Security Council
concludes Haiti visit



at live radio remotes hosted by the BACARDI Girls & get great

ON THE BACK OF YOUR RECEIPT FILLIN YOUR NAME, PHONE NUMBER & ADDRESS AS WELLAS UL ae

Ly or rer

Available from Commercial News Providers”

PT ede ON A oe ee ee ee

BN ES as ee nto.




VR ALAS



JHE TRIBUNE



Baker’ $ Bay Club on Great Guana Cay, The
Abacos aims to be the most environmen-
tally sensitive development of its kind
ever undertaken in The Bahamas. Key
aspects of the project include:



1, The land plan for the project was de ed.with
input from key stake holders including local gav-
ernment, the Member of Parliament, the former
Prime Minister, the Out Island Council and in con-
gultation with Guana Cay residents through a Town
Meeting on Guana Cay an August 20, 2004, Further
refinement will continue through additional dia-
logue on island and throughout The Abacos,



2, The Baker's Bay Community is appropriately
sized with fewer than 400 residences on 585 acres
and over 50% of the property is open space, Other
developed areas of Guana, Elbow and Green Turtle
Cays have twice as many houses per acre; other
parts of The Bahamas have three tintes as many
houses per acre,



3. Over 6 miles of shoreline are preserved with
residential structures set back more than 30 feet
from the high water mark, providing open beach .
access to all Bahamians. Individual docks from
each homesite will not be permitted which will
preserve the appearance of the shoreline.

4, The project will eliminate over 100 potential
dock structures and restore sand dunes thereby.
increasing and preserving turtle habitats.

5.49% of all leased crown lands are being placed
into a Preserve for use by all Bahamians and will be
managed by a foundation spearheaded by the

~- Bahamas National Trust. -

6. The tropical links style golf course is being
designed to the highest international standards
with environmentally friendly grasses and a closed
drainage system. This system, along with native
shoreline buffers, will dramatically reduce fertilizer
deposits into the ocean and mangrove areas,









i Protection
tit ¢ andards
4 CH it “Blue Flag"

gui elines



8, The Project will add an average of $150 millian
dollars per year inte the Bahamian economy includ-
ing government revenues derived from taxes, rev-
enue sharing and national insurance contributions.
A large portion of this figure will be allocated by

é ne naeven ment to othe local eee on







9, Baker's Bay will generate over 200 jobs during
construction and an additional 200 ongeing jobs
including jobs for accountants, lawyers, gardeners,
housekeepers, plumbers, electricians and more. The
project will rei ate opportunities | for entrepreneurial
ventures, including restaurants, shops, car rental
companies and others.

10. Over ten years the project should cause more
than $85 million in new wages to be paid and is
projected to generate over $1 Billion dollars of direct
and indirect goods and services for The Bahamas
including revenues for printing, publishing, enter-
tainment, transportation, food and beverage sup-
plies, sanitation services, chemicals, textiles, furniture
and equipment, landscaping and more.

11.All real estate commissions will be paid to Baha-

mian brokers and all private residences built will be.
subject to all taxes and duties.

12.State of the Art infrastructure systems will treat all
sewage fram residences and boats in the Marina.
Water systems and a solid waste transfer station will
be built at developers’ cost with potential access for
all residents of Guana Cay.

This project is being developed by Discovery Land
Company, a company with an extensive track record
of completing quality, environmentally responsible
projects throughout North America,



{ f






SECTION



business@100jamz.com

MONDAY, APRIL 18, 2005

Miami Herald Business, Stocks, Analysis, Wall Street



WN

RND ‘turns down’
largest investor's
request for EGM
TMT





in talks to
buy resort

@ By YOLANDA
DELEVEAUX
Senior Business Reporter

THE Hotel Corporation of
the Bahamas (BHC) is negoti-
ating with a US-based investor
for the sale of the Government-
owned Andros Lighthouse
Yacht Club and Marina, a
senior official told The Tribune
yesterday.

Dr Baltron Bethel, the Hotel
Corporation’s managing direc-
tor and deputy chairman, said it

was in negotiations for the sale
of the Lighthouse Club, a prop-
erty located in Fresh Creek,
Andros, that is said to have
been on the market for two
years. Talks are expected to
reach a conclusion shortly.

Dr Bethel declined to iden-
tify a completion date or a pur-
chase price, saying it was possi-
ble that matters could arise that
have to be negotiated as the two
entities move forward. The
Hotel Corporation has under
its management some 18,000

Doctors almost at
full health through -
ered KS S2.6m income

@ By NEIL HARTNELL
’ Tribune Business Editor

DOCTORS Hospital Health System (DHHS) showed it has
almost completed a recovery to full corporate health by more
than quadrupling net income for fiscal 2005 to $2.568 million, a
record-breaking result for the company on its 50th anniver-

sary.

The Bahamas International Securities Exchange (BISX) list-
ed company’s net income for the year ended on January 31,
2005, increased from $576,947 the previous year, driven large-
ly by a 10.5 per cent rise in total revenues.

acres of land in the Fresh Creek
area.

Dr Bethel, though, said
potential buyer was not Fortune
Real Estate Development Cor-
poration, a US based company
that claimed to have signed a
‘Letter of Intent’ to acquire 100

‘per cent of an entity called

Andros Isle Development Ltd.

According to a release from
Fortune, Andros Isle reported-
ly holds the exclusive rights to
develop a $250. million luxury
residential and resort commu-
nity on a 247-acre tract of
beach-front property in Andros,
which has been appraised at a
value of $49 million.

“Tt is the intention of both
parties to move to close the
transaction expeditiously. We
are hopeful that we will be able
to close this transaction [Fri-
day], as the majority share-
holders in both companies have
reached an agreement to move
forward," Simon Sands, presi-
dent of Andros Isle Develop-
ment Ltd, said in a statement.

Andros Isle is also unrelated
to the tourism-based project
proposed for Morgan's Bluff,
Hows Andros, by Bahamian

inessmen Garret “Tiger"
nlayson and Al Collie.

"SEE page three

@ By NEIL HARTNELL
Tribune Business Editor

TWO organisations repre-
senting Bahamian motor vehi-
cle dealers are at odds over
imposing age restrictions on
used Japanese vehicle imports,
with one urging the Govern-
ment to restrict cars more than
five years-old from coming
into the country, and the other
opting for “nothing older than
1994”,

In a letter to Leslie Miller,
minister of trade and industry,
the Bahamas Motor Dealers
Association (BMDA), which

‘| represents chiefly new car

dealers, said that on Japanese
used cars, the Government
should implement “an import
restriction for vehicles over
five years of age”.

It also backed the Bahamas
General Insurance Associa-
tion’s (BGIA) call for a used
vehicle classification system to
inform consumers about the
availability of replacement
body and engine parts for used
Japanese vehicles.

Class ‘A’ would be for cars
where “parts usually inter-
changeable”; Class ‘B’ for cars
where engine but not body
parts were usually available;
and Class ‘C’ for vehicles
where “there was no match
with other vehicles in the mar-
ket”.

But Larry Black, president
of the Bahamas New and Used
Car Dealers'and Suppliers of
Car-Accessories and Car Parts,
said in a-letter.to Mr: Miller



i EYE ON IMPORTS: Minister of
Trade & Industry Leslie Miller.

imports apart from medium to
. heavy commercial trucks.
Vehicles to come under the
suggested 1994 restriction, Mr

SEE page seven

that his Association was “only

able to support a position on

limiting the age of imports

to nothing older than 1994”.
This position, he. said,

applied to all used vehicle

DHHS said its full-year results reflected a “broad level of
increases in business volume”. The company’s average daily cen-
sus, which measures overall inpatient activity across depart-
ments, increased by 9 per cent upon fiscal 2004 - the highest per-
centage growth for five years.

Total admissions, DHHS said, increased by 14.4 per cent in
fiscal 2005 compared to the previous year, bucking the decline
in admissions over the past two fiscal periods.

It added that the average daily census also reflected the high-
est levels of Intensive Care Unit and Intermediate Care Unit
patient days for five years.

DHHS financial performance will look even better once it
completes the final step in its turnaround phase - the disposal of



© 2003 ADWORKS

SEE page eight

Brokers concerned
on capital and fees
in Bill regulations

& By NEIL HARTNELL
Tribune Business
Editor











THE Bahamas Insurance

Brokers Association

(BIBA) has expressed con-

cerns about the capital

requirements and fee struc-

_ ture proposed in the regu-
lations accompanying the
Domestic Insurance Bill,
fearing they may create bar-
riers to entry and impact
existing businesses because
the thresholds have been set
so high.

The Regulations for the
Bill, which is currently in the
Committee stage in the
House of Assembly, stipu-
late that the capitalisation
requirements for a Bahami-
an insurance broker be set
at $100,000. The capital
requirements for an agent
are $50,000 and, for a broker
and agent, the minimum is
$150,000.

Guilden Gilbert, BIBA’s

SEE page two






























Micron





#@ RICHARD COULSON,
managing director of
RC Capital Markets. .

Analyst challenges
environmentalists to
debate on LNG merits

@ By NEIL HARTNELL
Tribune Business Editor

A LEADING Bahamian
financial analyst has challenged
the environmental organisation,
reearth, to a public debate on
the merits of liquefied natural
gas (LNG), claiming the argu-
ments against these projects are

“misleading”.

Richard Coulson, managing

director.of RC Capital Markets,

SEE page eight



Since 1983

fie )










12 Village Road
Tel 242 502 6600 Fax 2423
56 Collins Avenue
Tel 242.502 9400 Fax 242 3:
www.colina.com

A Colina Financial Group® com

From desktop fo departmental workhorse, in brilliant color
Toshiba copiers have more features, more functions,
more technology.









SINESS TE CHNOLOGY

tp ff





iy i) Ny Rey

‘Don' t copy. Lead,

Tel: (242) 328-3040
Fax: (242) 328-3043



PAGE 2B, MONDAY, APRIL 18, 2005

THE TRIBUNE





) MARKET WRAP



TRADING | volumes
picked up again over the
past week as more than
22,000 shares changed hands
in the Bahamian market.
The market saw seven out
of its 19 listed stocks trade,
of which two advanced, one
declined and four remained
unchanged.

The volume leader for the
week was Kerzner Interna-
tional’s BDR (KZLB) with
9,304 shares changing hands
and accounting for 42 per
cent of the total shares trad-
ed..

KZL ended the week at
$59.50 on the NYSE, which
is equivalent to $5.95 per
BDR. The big advancer for
the week was FINCO,

whose share price increased.

by $0.15 to close at a new
52-week high of $10.40.

@ COMPANY NEWS
FirstCaribbean
International Bank
(Bahamas) -

An excellent first quarter.
for FirstCaribbean, as the ©
~ QuickCell or GSM phone

bank posted net income of
$23.6 million, up $9.4 mil-

lion or 66 per cent over the.

comparable period last year.

Net interest income rose
by $8.8 million or 40.8 per
cent to total $30.6 million,

while non-interest income

declined slightly to total
$10.3 million. Non-interest









maintained.

and services.

Benefits include:




pension scheme.

i'm lovin’ it

Core responsibilities:

Knowledge, Skills and Abilities:

expenses increased by $1.4
million to total $15.8 mil-
lion, compared to $14.3 mil-
lion in 2004.

The recent increases in
US interest rates have
allowed FirstCaribbean to
increase the spread it earns
on its US$ portfolio. Since
the bank's year-end on
October 31, 2004, the Fed-
eral Reserve has raised
interest rates by 50 basis
points, and US economists
have anticipated even fur-
ther rate hikes going for-
ward.

If this scenario plays out,
we can expect to see even
further growth in the levels
of CIB interest income.

@ RND Holdings (RND) -
Officials of RND have

announced that the compa-

ny will be taking its Tick-

etXpress system to the .

island of Andros. This Inter-
net-based automated system
allows customers to book
their flights on Western Air,
purchase movie tickets, and

cards.

RND's management is
optimistic that the revenue
generated from this segment
of its business, while mod-

* est now, will have a greater

impact on its earnings in the
near future.
There is, however, one

VACANCY FOR THE POSITION OF
CREDIT OFFICER

e Prepare thorough credit proposal and maintain profitability
of assigned portfolio
¢ Interview loan applicants and make considered decisions
based on investigations and assigned lending authority
° Act as the “Relationship Manager” for assigned accounts by
ensuring that all of the customers needs are satisfied.
e Ensure all loans are granted in compliance with the Bank’s
‘ lending policies and guidelines.
_ ¢ Monitor and control loan portfolios to avoid delinquency.
_ © Perform constant follow-up on delinquent loan accounts.
¢ Ensure loan and security files.are completed and properly

e Constantly increase lending by AER eLnS the Bank’s ee

¢ Associates Degree in relevant area (e.g. Accounting/Business
Administration/Finance)

¢ Three to five years banking and lending experience

¢ Excellent interpersonal and communication skills

¢ Strong negotiation, analytical and organizational skills

-¢ Computer literate - Ability to use MS Word and Excel

Competitive salary commensurate with experience and qualifications;
_ Group Medical (includes dental and vision) and life insurance;

Interested persons should apply no later than April 22, 2005 to:

The Manager, Haman Resources & Training
Bank of The Bahamas International

P.O. Box N-7118
‘Nassau, Bahamas.

McCHICKEN
SANDWICH

major drawback to the Tick-
etXpress concept. Cus-
tomers cannot actually
“buy" online via a credit
card. They can only “book"
the product online and then
pay for it at another venue.
This issue will have to be
addressed if the concept is
to have any long-term sus-
tainable success.

INVESTORS .

TIP OF THE WEEK

Financial Planning for
your children.

Saving for your child/chil-
dren’s education -

Whether you choose pri-
vate or government educa-
tion, educating a child is one
of the largest expenses a
family faces.

What you can afford to
pay for education will obvi-
ously be a factor in your
choices of schools. In order
to give your child the best, it

_ is essential that you plan and

set money aside. Some star-
tling facts for you to consid-
er:

e The average Bahamian
parent does not save or put
funds aside to educate their
children.

e Many parents take out
loans or re-mortgage their
homes in order to pay for
their children's college
tuition. This course of action

Bank of The Ba ahaa

: INTERNATIONAL
“A growing and dynamic Bahamian instution”


























The Local Stock Market

FINDEX 435.63 YTD 1.321%









VOLUME YTD PRICE



BISX CLOSING CHANGE






















SYMBOL PRICE CHANGE
AML $0.95 $- 0 -13.64%
BAB $1.04 $- 500 8.33%
BBL $0.85 $- 0 0.00%
BOB $6.00 $- 0 4.35%
BPF $ 8.00 $- 0 0.00%
BSL $12.25 $- 0 -5.77%
BWL $1.45 $0.05 4200 -19.44%
CAB $8.23 $- 300 15.92%
CBL $8.35 $- 0 17.61%
CHL $2.20 ' $- 0 0.00%
CIB $7.75 $- 0 3.47%
DHS $1.50 $- 3415 0.00%
FAM $4.02 $ - 2700 : 1.52%
FCC $1.27 $ - 0 -36.18%
FCL $8.35 $ - 0 4.38%
FIN $10.40 $0.15 1800 7.22%
ICD | $9.50 $ - 0 -3.94%
JSJ $8.22 $- 0 0.00%
KZLB $5.98 $-0.12 9304 -1.32%
PRE $10.00 $ - 0 0.00%







DIVIDEND/AGM NOTES:
CBL has declared an ExtraordinaryDividend of $0.05 per
share payable on April 29, 2005 to all common shareholders
as at record on April 22, 2005.





International Markets










FOREX Rates INTERNATIONAL
WEEKLY %CHANGE STOCK

CAD$ 1.2463 1.46. MARKET

GBP 1.8913 = 0.31 NDEXES:

EUR: 1.2915 -0.12 WEEKLY %CHANGE

DJIA 10,087.51 -3.57

COMMODITIES S& P50 1,142.62 -3.27
WEEKLY %CHANGE NASDAQ 1,908.15 -4,56

Crude Oil $50.49 = -5.31 Nikkei 11,370.69 -4.24

Gold $426.50 -0.54 — aan





have to be funded by par-
ene

can result in the parents or >
the child paying for these.
loans long after graduation.
e The costs of private
school and college education
are rising every year.
According to a 2001 US Col-
lege Board report, the aver-
age cost of a four-year col-
lege education in a public
college is around $40,000,
while in a private college, it
is close to $100,000. Even a
government school educa-
tion is getting expensive, as
many of the required text-
books and school supplies

There is no disputing that
a college education can
immensely increase your

ing a competitive salary.
Now that you have formu-

child/children and know the
benefits of saving for their
education versus borrowing,
just how will these funds be
invested? We will answer
this question next week.

Legal Notice

FTF epees 3 tS Eire

. NOTICE

ae . f2iyes

BRANFORD INVESTMENT INC.

In Voluntary Liquidation

NOTICE is hereby given that in accordance with Section 137
(4) of the International Business Companies Act. 2000,
BRANFORD INVESTMENT INC., is in dissolution as of
April 14th, 2005.

International Liquidator Services Inc., situated at 35A Regent
Street, P.O. Box 1777, Belize City, Belize is the Liquidator.

LIQUIDATOR



Winpine Baw
HIBIELD, FINA

REAL ESTATE SALES REPRESENTATIVE

The Abaco Club on Winding Bay, a spectacular 520 acre
International Members Golf & Sporting Estate on Abaco, is
seeking a senior-level REAL ESTATE SALES
REPRESENTATIVE. Candidates must have a minimum of
2 years sales experience with a track record of success. Real
estate license is preferred but not required. Successful candidate
must have exceptional communication skills, both verbal and
written. Must be personable, professional and willing to
commute or relocate to Abaco. The Abaco Club’s estate lots
range from $1.5 million to over $4 million. A handsome
commission package is offered. Please email cover letter and
resume to info@theabacoclub.com or fax to 242-367-2930,
Attn.: Sales & Marketing.





child/children’s. chances of _
getting a good job and earn-.

lated a savings plan for your -



Brokers concerned
on capital and fees
in Bill regulations

FROM page one

president; said: “The biggest

concern for us is the capital

requirements.
“It’s something we’re in
discussions on now, but

it’s definitely a barrier to

entry for new participants

and could have a negative
impact on existing bro-
kers, as most are small
businesses, and talk of
coming up with capital of

$100,000 or $150,000 is a

bit excessive.

_ While.a small number
of BIBA members, JS

Johnson and Insurance -

Management, employ sev-.
eral hundred staff

between them and would

have no trouble finding ~

the capital currently
required by the proposed’
regulations, Mr Gilbert
said: “The majority of our
membership will have dif-
ficulty in meeting that.”

' In addition, BIBA is

also objecting to the

marked increase in fees.’

proposed by the Regula-.
tions. These have been set,

at $3,000 for a broker and ,

$3,000 for an agency busi- .

ness on their own. How-;

ever, a combined a.

broker/agent has to pay,

$6,0000 in fees to the”

Insurance Commission, |" :

compared to the. current | a

$650.

Mr Gilbert said the". _

insurance industry Work: :

ing Group, which playeda a!

large role in developing:

the Insurance Bill, had -
already had two meetings
on the Regulations.,. The:

Association was well-rep- -

resented on the Working . ..

Group through three, na

members. Sed,

Bruce Ferguson,

’ BIBA’s vice-president,

said the Association was

| not objecting to the capi-,
tal requirements, which
regulators wanted in place
"as a policyholder safe-..
“ guard'‘in case something ,
‘went wrong. Instead, it °°!
was that “the limit is
placed much too high”.

Mr Ferguson added that
all Bahamian brokers °'
were already required to’.
purchase professional
indemnity insurance,
something designed to
protect policyholders, and
they did not assume the .,
risk for paying out claims.

- something performed by .
carriers.

He said: “There’s really
no control over who can ,
set up as a broker and it
would be nice if that could
change, but equally we
don’t want to put the
small man out of busi-
ness.’

Mr Gilbert said: “There ©
has to be minimum stan-
dards that should be met
to enter the market as a
brokerage and/or agent
entity, and it’s going to
take this association to
put forward recommenda-
tions along those lines.”

’ The Domestic Insur-
ance Bill has been stuck at:
the House Committee
Stage for some time, as
the MPs who form it are
understood to be grap- »
pling with its definition of,
a ‘spouse’.

In the definition section of
the Bill, ‘spouse’ will include
the cohabiting of a single
man and woman as if they
were legally husband and
wife for “a period of not less
than seven years”.

During the Bill’s Second
Reading, Ken Russell, FNM:

MP for High Rock, was ‘

effectively giving legal status

to “shacking up”, something .

that apparently ran contrary

to this nation’s Christian
principles.












































































































NicFISH
FILLET
SANDWICH








THE TRIBUNE





RND ‘turns down’

largest investor's
request for EGM

@ By NEIL HARTNELL
Tribune Business
Editor

RND_ Holdings has
“refused” to permit the
Extraordinary General
Meeting (EGM) requested
by its largest shareholder,
The Tribune has been

‘told.

-Brent Dean, RND Hold-
ings’ former president and
chief executive, who holds

/31.2 per cent of the com-

pany’s issued ordinary
shares, had requested an
April 7. EGM of all share-

‘holders at the company’s

February 28, 2005; annual
general meeting (AGM) to
discuss a variety of
corporate governance

‘issues.

Mr Dean said previously

‘he was, calling for the
AGM . “due to a lack.of

transparency and timely

‘information to sharehold-
‘ers prior to the AGM”.

But when contacted by

‘The. Tribune on Friday, Mr

‘Dean said RND. Holdings
jhad. decided. not: to agree
‘to his EGM call.

He said: “They refused
;to do it. They cited cost as
‘a barrier, and the fact they
‘had’ planned the regular
‘annual general meeting in
‘June.”

Developments

One capital markets
‘source, when contacted

about developments,. said ;

‘of the company’s ‘decision

“not to agree to the ,EG

‘request: “It sounds like a
stalling tactic, but he [Mr
‘Dean] can still raise the
isame issues at the AGM.”

‘Mr Dean no longer sits
on RND Holdings’ board.
The Board is chaired by
Jerome Fitzgerald, the
‘company’s second largest
shareholder with a 30.96
per cent stake. He is
backed by fellow director,
‘Mark Finlayson, son of
well-known entrepreneur
Garet ‘Tiger’ Finlayson.

The Tribune attempted
to contact Ken Donathan,
‘RND Holdings’ chief oper-
ating officer, for comment
on the EGM situation, but
was told he, was out of
office and the message was
not returned.

Mr Fitzgerald said at the
AGM that the April 7
EGM date could be unre-

‘ alistic, due to the closeness

of the June AGM for fis-
cal 2005 and the need to
send information and invi-
tations ‘to all shareholders.
: It is ‘unclear whether a
proxy battle could result
from Mr'Dean’s calls for
an EGM; as his motives are
currently unknown. He
may want the company to
disclose more information
rather than engage in a
full- scale battle for control,
especially since Mr Fitzger-
ald and his allies have a

US investor
in talks to
| buy resort
_FROM page one

Mark Finlayson, Tiger’s
son, told The Tribune the
developers continued to
await the outcome of a court
dispute between the Evans

family and the Government
over the real ownership of
the land upon which the
development is planned.

He confirmed, however,
that if the matter is resolved
satisfactorily the project will
continue.

Meanwhile, it was been
suggested that the Andros
Isle development may be a
private project located in
either the Nicholls Town or
Mastic Point area.





“They refused to do it. They
cited cost as a barrier, and the
fact they had planned the regu-
lar annual general meeting in

June.”



Brent Dean, RND Holdings’ —

former president and chief executiv

larger combined share-
holding. :

' Among the issues Mr
Dean wants discussed at-an
EGM are giving sharehold-
ers “prompt access to criti-
cal information”; having
RND Holdings’ chief exec-
utive vouch for timely dis-
closure and the accuracy of

financial statements
‘released to shareholders;

and for company directors
who have a direct or indi-

rect benefit in contracts

entered into by RND. .
Holdings to recuse them- —
selves from debates onâ„¢

such deals.

The separation of the

Board from RND Hold-
ings’ management was also
on Mr Dean’s agenda.

He wanted persons nom-
inated by financial institu-
tions elected to the Board

so they could review all the.

company’s growth plans
and its 2005 financial state-
ments.

GRAHAM THOMPSON & CO.

Graham, Thompson & Co., continues to expand
and remains at the cutting edge of complex
commercial transactions within the financial
services, tourism and industrial sectors of The

Bahamas.

| We are seeking a talented and ambitious:
| commercial/corporate, Jawyer. (with 5 to7 years |
post qualification’ éxperience) to join our Freeport °

Office.

Candidates must possess demonstrated skills and
ability to work independently on varied complex
commercial/corporate transactions within a broad
range of business and industries and expertise in
the area of project development and finance.

Applicants should send detailed resumes to ine
Managing Partner as follows:

P.O. Box N-272, Nassau, The Bahamas, or by
facsimile (242) 328-1069 or by email:

info@gtclaw.com.

No telephone calls will be accepted.



WANTED

Administrative Assistant

A leading pharmaceutical company
seeks to identify an ambitious and
dynamic individual for the position of
administrative assistant. Interested
persons should possess:

e Diploma from a recognized secretarial

institution

e Strong communication skills (written

and verbal)

e Thorough working knowledge of '
Microsoft Word, Excel and PowerPoint |

¢ Good organizational skills and the
ability to meet deadlines

¢ Minimum of two years experience ina

similar position

Salary is negotiable according to
qualifications and experience.
Please submit application and
resume, by April 29, 2005.

ADMINISTRATIVE
ASSISTANT

Lowe's Wholesale Drug oe Ltd
P.O. Box N-7504

-* Soldier Road:

Nassau, Bahamas



MONDAY, APRIL 18, 2005, PAGE 3B

& Scotiabank

No curpm prepare upfront for hidden home
ownership costs

By Michael A. Munnings

Senior Manager, Sales and Marketing - Scotiabank

Whether you choose to buy an existing home or build from the ground up, there are certain
costs you can count on, above and beyond your monthly payments. It’s important to be aware
of these so that you can come up with a realistic budget — one that provides for the hidden

costs of home ownership that can catch you off-guard.

Once you've found your dream home, there will be certain expenses related to closing the
deal. These may include legal fees, the-cost of an appraisal, a Quantity Surveyor’s Report and
your real estate agent’s commission. And, depending on when you take possession, you may
have to reimburse the vendor for any expenses incurred for the time period after your closing |

date.

Include the costs of updates
Many people make their new home their own by painting, buying new furniture, or
renovating. While these upgrades can make you feel right at home, the cost of such extras

can quickly add to the purchase price.

Then there’s the cost of the actual move. This can vary widely depending on whether you do
it yourself or hire professionals. Even with professional movers, the cost depends on who you
hire and how much help you want. They can simply move your belongings from the old
location to the new or do everything from supplying boxes, tape and packing materials to

packing and unpacking for you.

Factor in your fixed expenses

After the move, the fixed expenses of home ownership are often referred to as PIT], for
principal, interest, taxes and insurance. Generally, mortgage payments make up the biggest
expense — followed by property tax, based on a percentage of your. home’s value. You'll

continue paying property taxes as long as.you own the property.

Next is your pioperty insurance, a must to obtaining financing from most banks and other
lending institutions. Your policy will cover most fire and theft-related damage to your

property, but be aware certain things may not be covered. Flood protection is usually not

included, so if there are risks where you live, look into obtaining the appropriate type of

" coverage.

Your utilities are another regular home ownership expense you can count on. Electricity, gas,
phone, cable, internet and other utility bills will vary according to what you have in your

home and how much you use it:

Beyond the inevitable expenses, there are.some you can’t predict but should nonetheless

prepare for. They usually involve repairs and maintenance. While upgrades and renovations

‘may be optional, others, like repairs, may not be able to wait,. ib-depending on the nature of ue

problem.

Expect the unexpected
Many home owners prepare for the unexpected by saving a small sum in a special account
each month. Some experts Tegommend setting aside at least 1% of your home’ s purchase

price each year for repairs and maintenance. -

While you'll seats eel ess some years and more others, it all boils down to being
"prepared. Provided you embark on this adventure with your eyes open and a realistic budget,

home ownership will be a move you never regret.

Introductory paragraph for series of home ownership articles:

The following is the third ina five-part series of articles on home ownership, courtesy of

Scotiabank. If you re thinking about making the leap to home ownership, or have already
"done so and want to learn more, this series provides helpful information on everything

from whether to buy or build, financing your home, determining what you can afford and

protecting your assets.

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We're giving away Big Bucks!

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Lie



PAGE 4B, MONDAY, APRIL 18, 2005

ETURS sest

National Health

GN - 198

MINISTRY OF EDUCATION

NOTICE

TENDER FOR THE PROVISION

OF SCHOOL FURNITURE

1.0 The Ministry of Education invites sealed bids from persons to tender for the
provision of School Furniture (School Year 2005/06) for Government Schools in
New Providence and the Family Islands.

2.0 Interested Bidders may inspect/collect the bidding documents from from the
Supplies Section of the Ministry of Education, Headquarters, Thompson Boulevard
from Tuesday 12th April, 2005.

3.0 Bids must be in England and should be enclosed in a sealed envelope bearing
no identity of the bidder and endorsed with the subject bided on (e.g. “School
Furniture”.)



returned

s must be deposited in the tender box provided at the address shown below,
efore Friday 29th April, 2005 by 4:30p.m. (local time). Overseas companies



unopened.

wish to tender can submit their bid by mail. Late bids will be rejected and

5.0 Bids will be opened at a public ceremony, in the presence of those Bidders or
their Representatives who choose to attend, at 10:00a.m. on Tuesdy 3rd May; 2005

at the address below. the programme director arriving regarding the evaluation, prepa- _ers.
with experience in social health ration and determination of cost- Actuarial studies were also
: insurance schemes. An interim _ ing involved in the creation of a _ conducted as part of the analysis »
The Chairman Tender report on the plan is expected to . joint initiative. process to ascertain the costs of
Ministry of Finance be completed within the next six Dr Bethel said the health insur- _ the various services that will be








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THE TRIBUNE



Insurance plan
to get director

@ By YOLANDA
DELEVEAUX
Senior Business Reporter

THE Government is awaiting
the arrival within the next four
weeks of a programme director
for its proposed National Health
Insurance scheme, who will bring
to a completion ongoing studies
and gather any information nec-
essary to make a formal presen-

‘tation to the Government.

In an interview with The Tri-
bune, Dr Marcus Bethel, minister
of health, said said the National
Health Insurance scheme contin-
ued to be a work in progress, with

months.

With the government also
looking at strengthening the
national pension plan, Dr Bethel
said there were synergies that
relate to both the proposed health
insurance scheme and the opera-
tion. of the National Insurance
















Minister hopes to
have interim report
in six months

Board (NIB). .

NIB already had the infra-
structure in place to facilitate
management of a public health
scheme, and officials are work-
ing closely in many aspects

ance proposal remains in the data
collection, analysis and costing
phase, all critical elements nec-
essary for the Government to
make an informed decision in
regard to the final look of such a
scheme.

The Health minister said fur-
ther public consultation would be
sought before the interim report
was submitted to the Govern-
ment, which will determine
whether to give the green light to
move to the implementation
phase.

In November, Dr Bethel said a
team had been identified to com-
plete the review by determining

what the real cost of a national

‘health insurance plan will be,

what percentage will be deducted.
from employee salaries and what
percentage of the plan’s costs, if
any, will be picked up by employ-

available under the plan, and

' what the premiums will be.

Dr Bethel said: “The cost of
the plan will be borne by the pub-
lic themselves through payroll
deductions. The only question is
how much contribution will the
government continue to make
and what the premiums are.

“The Government bears the |

burden of the elderly, the dis-
abled and those children who
may not be covered by family
programmes. There was never
any question that the working
population would have to pay
premiums through a tax on pay-
roll." ‘



FirstCaribbean

meets with MPs
resem ctw tenant elm
bank committee

Senior Business Reporter

a By YOLANDA DELEVEAUX

THE Parliamentary select committee on banking has met First-
Caribbean International Bank (Bahamas) officials as part of its
inquiries into mortgage and lending practices, with hopes that a full
report can be submitted before year-end.

The committee is also expected to broaden its inquiries to include
insurance companies and non-financial entities that offer in-house











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asked about the bank’s mortgage and interest rate policies.

They included items on how lending officials arrive at mort-
gage terms, and how the interest rate is calculated on a maturing
loan. ;

Since its formation more than a year dgo, committee members
have been in the process of compiling information that could pro-
voke changes in legislation and banking policies on mortgage lend-
ing, and how consumers in default can be treated.

Mr Russell said: “Over the years, all of us have had complaints
from citizens about how they were treated unfairly and how they
lost their money. We're trying to get to the root of the matter.

"If we can find out concretely why it happened to the people who

‘complain, then in the future we will be able to advise potential buy-
ers what their rights are and how to go about getting those rights."

Committee officials are expected to meet in the next few weeks

to discuss the way forward. Along with meetings with the insurance
sector and the non-financial entities that offer in-house mortgages,
Mr Russell said the committee also hopes to hold town meetings in
Nassau, Bimini and Exuma.
Mr Russell said that if committee members can meet on a regu-
lar basis every two weeks from now to October, they would be able
to submit a report to the Government by the end of 2005.

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‘Colina

Financial Advisors Ltd.

=

Pricing Information As Of:
15 April 2005

Jilin

Daily Vol.



52wk-Low
Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste:
Fidelity Bank’
Cable Bahamas
Colina Holdings
Commonwealth Bank
Doctor's Hospital
Famguard
Finco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson
Kerzner International BDRs
Premier Real Estate

52wk-Hi

Abaco Markets Limited

‘the leading food distribution company
is looking fora

Junior Accountant

to join our corporate team

Requirements:
- _ Bachelors degree in accounting or finance;

- At least 2 years of relevant experience;
- Excellent PC skills;
- Must be willing to travel.

“52wk-Low
12.50 Bahamas Supermarkets
10.00 Caribbean Crossings (Pref)
ii 0.40 RND Holdings -

28.00 ABDAB
13.00 Bahamas Supermarkets

Duties:

Okc oa Fund Name bast 12 Menthe Yield 8s - General support for all areas with the Accounting










T2164 1.1609 Colina Money Market Fund 7216402" Depart t;
2.2268 1.9423 Fidelity Bahamas G & | Fund 2.2268 *** 7 epa men Z Ri
10.3112 10.0000 ‘Fidelity Prime Income Fund = =—10.3112***** - Preparation of month end journal entries, account
2.2214 2.0941 Colina MS! Preferred Fund 2.221401** epee
Colina Bond Fund 1 ee fo reconciliations,



expense report processing, and date entry;
Assisting with budget preparation and special
projects, as assigned.

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

| S2wk-HI - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today’s Close - Current day's weighted price for dally volume
Change - Change in closing price from day to day

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company's reported earnings per share for the last 12 mths
NAV - Net Asset Value

N/M - Not Meaningful

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

Dally Vol. - Number of total shares traded today
DIV $ - Dividends per share paid in the last 12 months

To apply for this position, please e-mail your detailed
resume and cover letter to hr@abacomarkets.com or
fax to 356-7855.

P/E - Closing price divided by the last 12 month earnings
“*- AS AT MAR. 31, 2005/ **** - AS AT FEB. 28, 2005
|. AS AT MAR. 24, 2005/ *** - AS AT O05/ ***** AS AT MAR. 31, 200

yyy ae vy ppasa eater reac aneasiny
WML Me ES RRB





siiintesieadeaiiit
EEE 2Ae SiG HE CK





THE TRIBUNE BUSINESS


















MONDAY, APRIL 18, 2005, PAGE 5B

mel te) le ae

MUST SELL



MARSHALL ROAD (NASSAU)

Lot #54, land size 42,130 sq. ft. with a masonry building with eight
inch concrete block walls. The front 2 units are 95% complete.

Appraisal: $256,233.00

Heading west on Blue Hill Road, go pass the intersection of Cowpen
and Blue Hill Road, turn right onto Marshall Road (Adventure
Learning Center Road), follow road to the final curve before the
beach. The subject property is about 100 feet on the right side,
grey trimmed white with unfinished building attached.





YAMACRAW BEACH ESTATES (NASSAU)

Lot #63, house #19, Cat Island Avenue, a 6 year old single story
house with three bedrooms, one bathroom, living room, dining
room, kitchen and laundry room. Property is 70x100 single - family
residential. This property is on flat terrain and fairly level with road
way. Living area 1,574 sq. ft.

Appraisal: $173,000.00



Traveling south on Fox Hill Road, go pass the Prison Compound,
turn left onto Yamacraw then 1st right, follow the road to 1st left,
then first right. The road curves to your left, the house is #19 Cat Island Avenue, painted white. The grounds
are attractively landscape and well-kept access into the subject property is provided by a concrete paved
drive way along with the walkways of concrete flagstones.

FRELIA SUBDIVISION (NASSAU)

of 4 year old three bed, two bath, living, dining, kitchen and utility
room.

Appraisal: $151,115.00

Driving west on Carmichael Road until you arrive at road by More
FM, continue driving north thru a series of curves in the road until

: ; you arrive to the double post sign on the right hand side of the road
turn right, house is 5th on right white trim yellow. Subject property is flat and slightly below the level of the
roadway. This is a single family residential zoning. The-building is about 4 years old, with remedial work
required. :

KENNEDY SUBDIVISION (NASSAU)

Lot no. 21 all utilities available 10 year old single story house, 3
bedroom 2 bathroom, living room, dining area, family room, kitchen,
study, laundry.and an entry porch. :



Appraisal: $175,350.00

Heading west along Soldier Road take main entrance to Kennedy
Subdivision on the left, then take the 1st corner on the left then
1st right, house is second on your right with garage.



KENNEDY SUBDIVISION (NASSAU)

:8;600:sqi40 x 90 ft.; contains a 21.year old single
1 bath, living, dining and kitchen. The lot
| fairly, level with the roadway, residential single











Appraisal: $100,800.00

The subject property is located on the southern side of Soldier
rad about 200 ft., east of the intersection of Kennedy Subdivision

and Soldier Road. Painted blue trimmed white, a low concrete °

wall and concrete gateposts are located at the front with a chainlink fencing enclosing the sides and the
back also walkway and driveway in the frontyard. Ground neatly maintained with basic landscaping in
place. Accommodation consist of three bedrooms, one bathroom, living and dining area and kitchen.

DUNDAS TOWN (ABACO)

for a small shop. Age 12 years the land is a portion of one of
the Dundas Town Crown Allotment parcels. stretching from Forest
Drive to Front Street, being just under a quarter acre in size and
on the lowside. A concrete block structure, with asphalt shingle
roof and L-shape in design with a total length of 70x26 ft, plus
50 x 22 ft., 2,920 sq. ft., the interior walls are concrete blocks,
ceiling is sheet rock and the floors of vinyl tiles.

‘Appraisal: $220,500.00



BAHAMA SOUND (EXUMA)
Duplex in lot #6625, Bahama Sound #8, East Exuma, trapezium

10 year old duplex, 2 bed, 1 bath, kitchen, dining and living
room and porch area. Property is landscaped.

Appraisal: $170,047.50

MURPHY TOWN (ABACO)

Crown Allotment #70, singe storey wood and concree
cour building approximately 758 sq. ft., about 20 years
old.

Appraisal: $71,946.00

Lot #24, Land size 6,724 sq. ft. living area 1,223 sq. ft. consisting

3 two bed, 1 bath triplex 9,000 sq. ft., lot no. 18b with an area

shaped lot 35 ft above sea level, 10,000 sq. ft., single storey, -



GOLDEN GATES #2 (NASSAU)

Lot #1490, section 2 with a 25 year old single family residence 2,480
sq. ft. consisting of five bedrooms, two bathrooms, seperate living
and dining room with a spacious kitchen, lot size is 6,000 sq. ft.

Appraisal: $120,000.00

Property is at grade and level with adequate drainage, house situated
on road knowns as “Donahue Road” which is on the southern side
of Carmicheal Road. Last painted green trimmed white. Enclosed
on one side with 5 ft., chain link fencing and at the front with a low cement block wall with two driveways
and a walkway.



VALENTINES EXTENSION (NASSAU)

Lot #2 contains a 19 year old 1 1/2 storey four plex-with a floor
area of 3,621 sq. ft. The two storey section consist of a master
bedroom, bathroom and sitting area upstairs and two bedrooms,
one bath, living, dining, family room and kitchen downstairs. The
single storey consist of one two bedroom, one bath apartment and
two efficency apartments, land size 7,500 sq. ft. Multi-Family zoning
on flat land and not subject to flooding. -

Appraisal: $347,006.00

The subject property is located on the western side of Valentine's Extension Road, just over one hundred
feet north of the roadway known as Johnson Terrace. Travel east on Bernard Road, turn left onto Adderley



‘Street which is opposite SAC, continue left.at the deep bend, take first right into Johnson Terrace, go to

T-junction and turn left, then first right. Property is second building on right, white trimmed brown.

GLENISTON GARDENS SUBDIVISION
(NASSAU)

30 Year old single story house with floor area of 1,800 sq. ft.,
Lot #28 land size 14,475 ft., consist of 4 bed, 3 bath, living,
dining, kitchen, utility room and carport.

Appraisal: $211,050.00



Driving east on Prince Charles, take the corner before the shopping
centre on the right side, Follow the road around the curve to
the subject house which is painted white trim with blue with a drive way up to the carport.

GOLDEN GATES #1 (NASSAU) |

‘Lot #154,:a single story duplex with floor area of 1,460 sq. ft.
Each apartment consist of 2 bed, 1 bath, living and dining area
and kitchen. Lot size is 5,200 sq. ft.,52x 100. -

Appraisal: $168,504.00

Heading south on Blue Hill Road, take first left after traffic light
at Blue Hill Rad and Carmichael Road intersection. Take the
second right the subject property is the second on the right. Sisal
Road. and Bamboo Court. Painted white, trimmed green.



MURPHY TOWN /(ABACO)

Lot #60 with a structure: fot-size 60x 115 ft.,6,900 sq. ft., 10
ggabove sea level but below road level and would flood in a
evere hurricane the duplex has dimensions of 60:ft by 30 ft
‘partly“of wood and partly of cement blocks with one section
virtually finished and occupied with blocks up to window level
and floor ready to be poured. The roof is asphalt shingles, the
‘interior walls and ceiling are of 1x6 pine and the floor of ceramic
tiles. The finished work is average/below, 2 bedrooms, one bath,
living/dining. The occupied portion of the structure is not complete.
Age: 10 years old. 2 :

Appraisal: $80,498.00










HAMILTON’S (LONG ISLAND)

Queen's High Way, lot of land 13,547 sq. ft., dwelling house
of solid concrete floors, foundation column and belt course
with finished plaster. Two bedrooms, one bathroom, kitchen,
- dining, and living room. Total living space is 1,237 sq. ft., utilities
available are electricity, water, cable tv and telephone.

Appraisal: $98,057.00



RAINBOW BAY SUBDIVISION
(ELEUTHERA)

Lot #44, Block 5, Section A. The lot is on a hill overlooking the
Atlantic Ocean. Area is approximately 10,800 sq. ft. This site
encompasses a two storey apartment block of two apartments.
One upstairs and one downstairs. Each comprising one bedroom
one bathroom, front room, dining, kitchen. There is a wooden
porch approximately 8 - 6 feet wide on the upper level secured
with a wooden handrail. The garage area has been converted
into a efficiency apartment and now houses one
bedroom/frontroom in one and one bathroom. Age: is 7 years
old. The apartments could be rented at $700 per month partly
furnished. The efficiency rented at $400 per month.

‘ Appraisal: $308,402.00



EARLY SETTLERS DRIVE
(ELEUTHERA)
Lot #7 Early Settlers Drive, North Eleuthera Heights, size 11,200

sq. ft., contains incomplete 3 bed, 2.5 bath, living room, dining
room, kitchen and tv room.

Appraisal: $141,716.40



NORTH ELEUTHERA HEIGHTS (ELEUTHERA), Lot #20 approximately 11,200 sq. ft., and bounded on North by Early Settler Drive and South by Deal Investment Ltd., this is a
single family Zoning and 50 ft., ‘above sea level. This site encompasses a foundation with plumbing and roughing inplace and well compacked quarry fill. The concrete floor has not been poured

as yet. The foundation is 2,511 sq. ft.
Appraisal: $43,968.75

Lot #20 situated 1.5 miles east wardly of the Bluff Settlement. The said lot is vacant and a hill over looking the Atlantic Ocean.

BAHAMA CORAL ISLAND (ABACO), Lot #1, Block A, on Central Abaco. This property is vacant and is approximately 9,100 sq. ft. This property is elevated and should not flood under normal conditions.

Appraisal: $8,236.00

The property is in the southwestern portion of the Bahama Coral, Coral Island and bounded northwesterly by 60 ft. Wide Road.

BAHAMA SOUND (EXUMA), Lot #7088 situated in Bahama Sound, Exuma section 10 East. Great Exuma approximately 10.5 miles west of George Town lot is Square in shape on elevation of approximately
15 ft., above sea level contains 10,000 sq. ft., No adverse site conditions noted. This property is single family residence.

Appraisal: $26,250.00

Property is located on the northwestern side of the Queen’s Highway, about 10.5 miles northwest of George Town.

For conditions of sale and other information contact
Philip White @ 502-3077 email philip.white@scotiabank.com or -





Harry Collie @ 502-3034 email harry.collie@scotiabank.com
Please visit www.fsbobahamas.com for interior photos







PAGE 6B, MONDAY, APRIL 18, 2005

THE TRIBUNE



Insurance brokers to hold conference

@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas Insurance
Brokers Association (BIBA)
will hold a two-day conference
this October to debate “every
aspect” of the sector, as the
group moves to raise the pro-
file of brokers with the general
public.

Guilden Gilbert, BIBA’s
president, said the October 27-
28 event would be open to the
entire insurance industry. The
agenda, which will see the first



OM ice Space jer nen

day devoted to life and health
insurance and the second to gen-
eral insurance, has already been
finalised and BIBA is now mov-
ing to firm up the speakers.

Members

In addition to Friday’s t-shirt
day, in which every BIBA
member wore a t-shirt to pro-
mote the sector and Associa-
tion, which has 17 members,
Allyson Maynard-Gibson, min-
ister of financial services and
investments, will address a



BIBA luncheon on June 8 to
discuss the Domestic Insurance
Bill.

Mr Gilbert said: “The prima-
ry reason for the t-shirt day is to

bring awareness to the general -

public of the importance of bro-
kers and the role they play in
the industry.

“We as brokers definitely add
value to the product, as we can
show clients what the market in
totality has to offer, and we also
bring about competition
between carriers.”

Mr Gilbert said BIBA mem- -

bers acted as advisers and con-
sultants to clients, advising them
what insurance product best met
their needs at the most afford-
able price possible. They also
helped insurance companies on
risk mana semen:

He added: “I think we repre-
sent a significant portion of the
market, and so I think people
are more and more aware of the
role brokers play.

“The broker is completely
independent of the insurance
company. The broker has the
ability to shop the market and
we can assist with the claims
handling.”

Bruce Ferguson, BIBA’s vice-
president, said that brokers were
even able to become involved
in the claims process, helping to
reach an equitable settlement
for all concerned.

He added that the indepen-

’ dence of brokers was “very

important”, as insurance com-
panies were not good on every,

- class. of business. Tied agents,

though, had to place business

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Summerwinds Plaza, Harrold Road
Phone: 424-3889 ¢ 364-0753

NOTICE

FINCO INVITES TENDERS

Finance Corporation of Bahamas Limited invites tenders for
the purchase of the following;

“ALL THAT piece parcel or lot of land being Lot “132”, Bel-
Air Estates Subdivision situated in the Eastern District of
the Island of New Providence one of the islands of the
Commonwealth of The Bahamas. Situated thereon is a Single
Family Residence consisting of (5) Bedrooms, (3) Bathrooms,

Building Size: 2,150 sq. ft.
Property Size: 6,000 sq. ft.

This property is being sold under our Power of Sale contained
in a Mortgage FINANCE CORPORATION OF BAHAMAS LIMITED.

All offers should be forwarded in writing in a sealed envelope,;
addressed to the Manager, Credit Management & Recovery
Centre, Finance Corporation of Bahamas Limited, Main
Branch, P.O. Box N-5038, Nassau, Bahamas and marked
“tender 8003”. All offers must be received by the close of |
business 4:00 pm, Friday 22nd April, 2005.

NOTICE

FINCO INVITES TENDERS

Finance Corporation of Bahamas Limited invites tenders for the
purchase of the following:

‘

“ALL THAT piece parcel or lot of land being Lot 52, East Park
‘Estates Subdivision situated on one of islands of the Commonwealth
of The Bahamas. Situated thereon is a Single Family Residence
consisting of (5) Three Bedrooms, (2) Two Bathrooms in each
unit.

Property Size: 6,495 sq. ft.
Building Size: 1,273 sq. ft.

This property is being sold under our Power of Sale contained in
a Mortgage FINANCE CORPORATION OF BAHAMAS LIMITED.

All offers should be forwarded in writing in a sealed envelope,
|| addressed to the Manager, Credit Management & Recovery Centre,
Finance Corporation of Bahamas Limited, Main Branch, P.O. Box
N-3038, Nassau, Bahamas and marked “tender 1833”. All offers
must be received byl the close of business 4:00 pm, Friday 22nd
April, 2005.



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Homes ¢ Offices * Subdivisions
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Tel: 393-7733 _

1 Det party | Bree ar renee



COMMERCIAL BUILDING
a Brand New

Retail & Warehouse Space
32,000 sq. ft. at $12.50 per sq. ft.,
50 plus parking spaces

Summerwinds Plaza, Harrold Road
Phone: 424-3889 © 364-0753 _

NOTICE

FINCO INVITES TENDERS _

Finance Corporation of Bahamas Limited invites tenders for the
purchase of the following:

“ALL THAT ieee parcel or lot of land: being Lot on Eastern Side
of Mongomery Street situated in the Eastern District of the Island
of New Providence one of the islands of the Commonwealth of
The Bahamas. Situated thereon is a Duplex Apartment consisting
of (2).2 - Bedrooms, (1) Bathrooms in each unit:

Property Size: 6,000 sq. ft.
‘Bullding: Size: L 756 <4. ft.

This property: is bein sold under our Power of Sale contained i in
a Mortgage FINANCE: CORPORATION OF Pe cate LIMITED. '

Al offers should be. forwarded i in writing | ina sealed envelope,
addressed to the Manager, Credit Management & Recovery Centre,
Finance Corporation of Bahamas Limited, Main Branch, P.O. Box
N-3038, Nassau, Bahamas and marked “tender 1871”. All offers
must be received by the close of business A: 00 pm, Friday 22nd
ace 2005.

NOTICE

FINCO INVITES TENDERS

Finance Corporation of Bahamas Limited invites tenders for
the purchase of the following: :

“ALL THAT piece parcel or lot of land being Lot 41, Malcolm
Allotment #72 Nassau Village. Situated in the Southeastern
District on one of the islands of the Commonwealth of The
Bahamas situated thereon is a Vacant Land

Property Size: 6,590 sq. ft.

This property is being sold under our Power of Sale contained
in a Mortgage FINANCE CORPORATION OF BAHAMAS LIMITED.

All offers should be forwarded in writing in.a sealed envelope, _
addressed to the Manager, Credit Management & Recovery
Centre, Finance Corporation of Bahamas Limited, Main
Branch, P.O. Box N-3038, Nassau, Bahamas and marked
“tender 2756”. All offers must be received by the close of

business 4:00 pm, Friday 22nd April, 2005.



@ ALLYSON MAYNARD-GIBSON,
minister of financial services and investments.

with just one carrier, which did

- not always add value to the’

client, Mr Ferguson said.
Mr Gilbert said the consoli-

_ dation experienced in the .

Bahamian insurance industry in
recent years, particularly on the
life and health side through Col-

- ina Insurance Company’s pur-
chases, but also on the general -

nitely limits” options for bro-
kers when selecting the- Tight
policies for clients.

But Jeanine. Lampkin,
BIBA’s treasurer, said: “It
forces brokers to be more.cre-
ative in meeting client. needs.
This is where years of profes-

~ sionalism come in, putting some-

thing together in a limited mar-
ket that still meets client needs,’ ”

side via Bahamas First, “defi-



HOUSE FOR RENT _

5 Bedroom, 4 bathroom, split level,
partly furnished.
Nassau East Blvd.,
$2,500.00 per month

Summerwinds Plaza, Harrold Road
Phone: 424-3889 © 364-0753

‘ANDEAUS

_ INSURANCE BROKER Co. Lid.
To All Our Valuable Clients,

Please be informed that Ms. Alicia T.
Culmer is no longer an employee of Andeaus
Insurance Broker Company Limited. Ms. Culmer
is not authorized to conduct any business for the
company. Please contact the office at 323-4545
for services. Thank you for your continued
patronage.

Management of
Andeaus Insurance Broker Company Limited

NOTICE

FINCO INVITES TENDERS

Finance Corporation of Bahamas Limited invites tenders for the
purchase of the following:

“ALL THAT piece parcel or lot of land being Lot No. 2829, Sir
Lynden Pindling Estates situated in the Western District of the
Island of New Providence one of the islands of the Commonwealth
of The Bahamas. Situated thereon is a Single Family Residence.
consisting of (3) Bedrooms, (2) Bathrooms in each unit.

Property Size: 5,000 sq. ft.
Building Size: 1,136 sq. ft.

This property is being sold under our Power of Sale contained in
a Mortgage FINANCE CORPORATION OF BAHAMAS LIMITED. :

All offers should be forwarded in writing in a sealed envelope,
addressed to the Manager, Credit Management & Recovery Centre,
Finance Corporation of Bahamas Limited, Main Branch, P.O. Box
N-3038, Nassau, Bahamas and marked “tender 2424”. All offers
must be received by the close of business 4:00 pm, Friday 22nd
April, 2005.





IHE | RIBUNE



FROM page one

Black said, were two and four-
door passenger cars; SUVs and
light trucks, cargo vans and
coaches/buses.

The letters are understood to
have been sparked by Mr Miller
receiving numerous complaints
from Bahamians who had found
that parts for used Japanese car
imports were excessively expen-
sive, making it difficult or cost
prohibitive to purchase them.

The two car dealer organisa-
tions and the BGIA were thus

-asked to submit their positions
on the subject of used Japan-
ese car imports to the Minister,
but the letter sent by Mr Black
is more wide-ranging.

In its letter, the BMDA said
the stringent licensing process
and prohibitive fees in Japan
had created an excess supply of
older vehicles in that nation,
forcing suppliers to seek new
markets in the Caribbean and
Pacific Rim regions for them.

While a number of used
Japanese cars were very good
and competitively priced, the

A said consumers might

find it difficult to obtain replace-
‘ment parts for models more
than five to six years old.
» As car manufacturers con-
trolled which models were sold
where in the world, many used
Japanese vehicles in the
Bahamas ‘were not the same as
those supplied by local dealers,
imeaning, at.could be difficult for
consumers to buy engine, trans-
mission and body parts.

This, the BMDA said, meant
that a vehicle classification sys-
tem was required. Its position
seems to be backed by the
insurance industry, which said in
its letter to Mr Miller that unless

the Government wanted to

place a general age limit on car
imports, “the only restrictions
that should be placed on such
vehicles is a requirément for the
séllers to advise the purchaser
of the possible problems that
can be experienced”.

~ However, Mr Black wrote
that parts were available for
used Japanese car imports from
a ‘variety of sources, including
Blessed Things Auto, Jap Auto
and One Stop Auto. These
establishments supplied used
and after market parts, plus
Original Equipment Mantfac-

Car dealers
at odds over
Japanese
car imports

ture (OEM) parts.

Mr Black wrote: “In many
instances, the cost of after-mar-
ket and used parts is generally
50 per cent less than its OEM
counterpart, which results in a
significant savings to the con-
sumer.

“It is interesting to note that
should a vehicle older than
three years be repaired using
OEM parts, the insurance com-
pany may ask the consumer to
pay a part of the cost of the
OEM parts (referred to as ‘bet-
terment’ in insurance terms).”

Mr Black added that the new
and used car dealers body was
at a disadvantage to the BMDA
on warranties, as the Price Con-
trol Act means that the latter
cannot be included in the selling
price and must be added at
additional costs. In addition, he
said new car dealer warranties
were backed by the manufac-
turer, whereas used cars were

not.

Mr Black said the Price Con-
trol Act allowed new cars to be
sold with a 25 per cent mark-
up, while used cars had a 15 per
cent mark-up, further benefiting
new car dealers.

He said his members would
have “no problem” supporting a
mandatory warranty on engine
and transmission parts for a
minimum of 30 days, provided
that the mark-up on used vehi-
cles is adjusted to 50 per cent.

On insurance, Mr Black said
insurance companies should be
“obligated” to pay the previ-
ously agreed value of a car, giv-
en that their own personnel
inspect and value them, “should
a total loss arise during the
ensuing” year without making
any deductions for wear and
tear.

Insurance companies will not
do this, though, for fear it will
lead to increased fraud.

POSITION AVAILABLE

| LAKEVIEW MEMORIAL GARDENS & MAUSOLEUM,

Requires: ‘Customer Care Representative

Qualifications:

¢ The successful candidate should have at

least three (3) years experience in customer | -
service and sales.

¢ Must have good written and oral
communication skills

¢ Must possess good leadership and
interpersonal skills

¢ Must be self-motivated and energetic .

Attractive benefits package.

Please send resume to:

Lakeview Memorial Gardens & Mausoleum
P.O.Box CB - 13773
Nassau, Bahamas

or
Fax: 323-7329

_ MINISTRY OF TRANSPORT
ROAD TRAFFIC DEPARTMENT

- PUBLIC SERVICE VEHICLES LICENSING
AND INSPECTION

In accordance with the Road Traffic Act, Chapter
220, Statute Laws of The Bahamas, the licensing and
inspection of Public Service Vehicles will be carried
| out in New Providence and the Family Islands

| beginning Monday, 2nd May through Tuesday, 31th

| May, 2005.

Owners and operators of these vehicles must ensure
that the total number of vehicles covered by their
franchises is presented for licensing and inspection.
'}. When an owner or operator present fewer vehicles
_| than covered by his/ her franchise, the Road Traffic
‘| Authority, in the absence of proof, will assume that

he/she no longer requires the complete franchise.

The Authority, therefore, requires him/her to show

cause why the franchise may not be reduced on the
strength of section 89(1) of the Road Traffic Act.

Further, all franchise holders must produce
documentary proof to show that their franchises are
operational ‘at the time of licensing and inspection.



Brensil Rolle
Signed Controller

GN-199



SUPREME
COURT

COMMONWEALTH OF THE BAHAMAS

THE SUPREME COURT,
PROBATE DIVISION

2005/PRO/npr/000181

Whereas BRADLEY W. CALLENDER of 19
Heron Circle in the City of Freeport Grand
Bahama, one of the Islands of the
Commonwealth of ‘The Bahamas, Attorney
by deed of Power of Attorney for Tracey Lee
Moral nee Shields, Eric Timothy Shields and
Michael Thomas Shields, the Lawful Children
has made application to the Supreme Court
of The Bahamas, for Letters of Administration
of the real and personal Estate of DR.
TIMOTHY JAMES SHIELDS late of 2817
Kutztown Road East Greenville, Phvederpnle,
18041, U.S.A.,

deceased,
Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date thereof.

Signed

Desiree Robinson
(for) Registrar

~~ THE SUPREME COURT,
_. PROBATE DIVISION

2005/PRO/npr/000185
IN THE ESTATE OF SOTERO ABIBA

late of 1381 Dalsbury Lane in the City

of Virginia Beach in the State of Virginia,
U.S.A.,

deceased.

NOTICE is hereby given that after the

| expiration of fourteen days from the date

hereof, application will be made to the
Supreme Court of The Bahamas, on its
Probate side by LYNN PYFROM
HOLOWESKO of West Bay Street, Western
District, New Providence, one of the Islands
of the Commonwealth of The Bahamas,
Attorneys-at-law, is the Authorized Attorney
in The Bahamas, for the Resealed Grant of

; Letters of Certificate letter of Qualification in

the above estate granted to NORMA A.
ABIBA, the Administratrix C.T.A. by the Virginia
Beach Circuit Court Clerk’s Office, Virginia
Beach, in the State of Virginia, U.S.A., on the
9th day of December, 2004.
Signed
Desiree Robinson
(for) Registrar

THE SUPREME COURT,
PROBATE DIVISION

2005/PRO/npr/000186

IN THE ESTATE OF LORETTA
BIDDULPH late of 26005 Butternut
Road in the County of Cuyahoga of the
City of North Olmstread in the State of
Ohio one of the United States of
America,

deceased.

NOTICE is hereby given that after the
expiration of fourteen days from the date

MONDAY, APHIL 18, ZUUS, PAGE /b

hereof, application will be made to the
Supreme Court of The Bahamas, on its
Probate side by KEVIN M. RUSSELL of #14
Doubloon Drive in the City of Freeport on the
Island of Grand Bahama, one of the Islands
of the Commonwealth of The Bahamas,
Attorneys-at-law, is the Authorized Attorney
in The Bahamas, for the Resealed Grant of
Letters of Testamentary in the above estate
granted to BONITA R. DELORENZO, the
Executrix by the Probate Cout in the County
of Cuyahoga of the City of Ohio, U.S.A., on
the 28th day of July, 1993.

Signed
Desiree Robinson
(for) Registrar

THE SUPREME COURT,
PROBATE DIVISION

2005/PRO/npr/000187

Whereas EDDINS TAYLOR of Winton Estates,
New Providence, The Bahamas, has made
application to the Supreme Court of The
Bahamas for letters of administration of the
real and personal estate of ROSALIND MARIE
TAYLOR late of Winton Estates, New
Providence, The Bahamas,

deceased,
Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date thereof.

Signed

Desiree Robinson
(for) Registrar

THE SUPREME COURT,
PROBATE DIVISION.

2005/PRO/npr/000188

Whereas HAZEL WILLIAMS of No. 21 Danita

‘Bahamas, has: made application to the

Supreme Court of The Bahamas, for letters
of administration with the will annexed of the
real and personal estate of MARION
EDGECOMBE late of, No. 21 Danita Drive,

Bamboo Town New Providence, The | |
- Bahamas,

deceased,

Notice is hereby given that such applications

‘will be heard by the said Court at the expiration
of 14 days from the date hereof.

Signed
Desiree Robinson
(for) Registrar

THE SUPREME COURT,
PROBATE DIVISION

2005/PRO/npr/000189

IN THE ESTATE OF ERIC WELLINGTON
WARD BAILEY, late of Chariton Abbots
Manor, Andoversford, Cheltenham,

Gloucestershire, United Kingdom,

deceased.

NOTICE is hereby given that after the
expiration of fourteen days from the date
hereof, application will be made to the
Supreme Court of The Bahamas, on its
Probate side by KARLA SHANTA McINTOSH |
of Woodstock Street Lane, Freeport, Grand
Bahama, The Bahamas, Attorneys-at-law, the —
Authorized Attorney in The Bahamas, for |
obtaining the Resealed Grant of Probate in
the above estate granted to PETER MAURICE
BARCLAY and DAVID MASTERS, the
Executors, by the High Court of Justice, The
Principal Registry of the Family Division, on
the 14th day of March, 1986.

Signed
Desiree Robinson
(for) Registrar



PAGE 8B, MONDAY, APRIL 18, 2005

1HE TRIBUNE





Analyst challenges environmentalists

to debate on the merits of LNG |

FROM page one

a financial advisory and corpo-
rate consultancy, has sent an e-
mail to reearth in response to
the launch of that organisation’s
petition against the LNG pro-
jects proposed for this nation.

Mr Coulson wrote in his e-mail:
“Not only will I not sign your
petition, I will actively oppose it
and lend my voice against it.

“The five ‘risks and dangers’
that you list are simplistic, mis-
leading and in certain respects
just plain wrong. I have studied
the history of LNG and the AES
report to government and BEST,
and am convinced that the LNG
projects will be in the best inter-
ests of the Bahamas.

“T would be delighted to
engage you in a public debate on
the subject.”

Mr Coulson is a highly-respect-
ed member of the Bahamian
financial community, and has
written several articles previous-
ly published in The Tribune on
the subject of LNG.

reearth has claimed that siting
LNG facilities in the Bahamas
could make this nation a terrorist
target, alleging that this nation is
taking all the risks while the ener-
gy companies - AES Corporation.
and the consortium of Florida

Power & Light Resources, -

Tractebel and El Paso Corpora-
tion - reap all the profits.

Deloitte.




INDEPENDENT AUDITORS’ REPORT

To the Board of Directors and Stockholder of

reearth is claiming that the
LNG companies can “never guar-
antee our safety”, and claims that

if the projects were approved, the

Government would be gambling
with the environment, and
tourism and fisheries industries.

Only the first volume of the
five-volume Environmental
Impact Assessment (EIA) con-
ducted for AES’ $550 millio LNG
terminal and pipeline, slated for
Ocean Cay, a man-made island
near Bimini, has been made pub-
lic on the BEST website. The
rival consortium is still seeking
approval of a Grand Bahama site
for its project.

e e@
Pipeline

The AES EIA said that apart
from the LNG facilities, the com-
pany would run a natural gas
pipeline from Ocean Cay to north
Bimini to “provide a cleaner
source of fuel and natural gas.....
for electricity energy production”.

The EJA added: “The supply
of natural gas will be of sufficient
capacity to serve future econom-
ic development and expansion in
the Biminis.”

Adding that 100 per cent of
electricity generation in the
Biminis and throughout the
Bahamas came from fuel oil, the
AES said: “The current condi-
tions regarding energy genera-
tion and supply in both the
Bahamas and south Florida war-

Bank of Tokyo-Mitsubishi Trust Company and Subsidiaries

_ New York, New York

We have aldited the accompanying consolidated balance sheets of Bank of Tokyé-Mitsubishi "°°
Trust Company and Subsidiaries (the “Company”) as of December 31, 2004 and 2003, and the

related consolidated statements of income, changes in stockholder’s equity and cash flows for the

years then ended. These consolidated financial statements are the responsibility of the

Company’s management. Our responsibility is to express an opinion on these consolidated

financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United
States of America. 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 also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such consolidated financial statements present fairly,

~ financial position of the Company at December 31, 2004 and 2003, a
operations and its cash flows for the years then ended in conformi
generally accepted in the United States of America.

Odloitte FTeucte LeP

March 10, 2005




t ‘ hae informat
Assets

Cash and due from hanks......
Interest-bearing deposite........

Federal funds sold and securities purchased under resale ag

Securities received as collateral

(includes $2,036,438 in 2004 and $1,258,820 in 2003 pledged as collateral)..
Due from securities lending customers.

Securities (includes $498,462 in 2004 and $218,665 in 2003 pledged as collateral).

Consolidated:Balance Sheets

Bank of Tokyo-Mitsubishi Trust Company and Subsidiaries




- Loans and lease finance receivables, net of reserve for loan and

lease losses of $13,435 in 2004 and $95,879 in 2003
Investment in operating leuses.....

Loans held-for-sale......ssesssse
Accrued interest receivable.....

Premises and equipment, net of accumula

“of $6,866 in 2004 and $6,9






Liabilities and Stockholder’s Equity

Deposits:

Noninterest-bearing in domestic offices (nonaMiliated)........
Interest-bearing in domestic offices (nonaffiliated).....
Imterest-bearing in overseas offices (nonaMiliated).
interest-bearing in overseas offices (affiliated).

Deferred taxes payable....

Accrued expenses und other liabilities (including the alf
. losses of $27,072 in 2004 und $32,317 in 2003)...

Subordinated debt......
Total liabilities.

Stockholder's Equity

12 in 2003..

Federal funds purchased and securities sold under repurchase agreements ....
Obligation to return securities received os collateral........
Obligation to retum cash coltateral.





ted depreciation



Preferred stock (par vilue $100); 1,000,000 shares authorized;

None oytstanding

Capital curplus............
Retained eaming..........

Accumulated other comprehensive loss.
Total stockholder's equity.................
Total liabilitics and stockholder’s equity.........

2

See notes to consolidated financial statements.

Common stock (par value $100); 1,485,000 shares authorized;
1,329,219 shares issued and outstanding.....










Interested persons may obtain a complete copy of the Audited
Accounts from SG Hambros Bank & Trust. (Bahamas) Limited,
P.O. Box N-7788, West. Ray Street, Nassau Bahamas.

|
if

in all material respects, the
nd the results of its
ty with accounting principles





















897,119
381,028 . 368,310 °
649,422 620,416
122,742 150,496
2,194,970 2,036,341
439,075 312,006
2,036,438 1,258,820
182,437 537,250
149,736 127,948
107,578 329,163
4,616 4,572
183,554 144,523
95,815 54,489
135,430 134,760_
5,529,649 4,939,872
132,922 132,922
311,494 311,404
352,764 334,020
——__ 3,635) _____1, 695)
793,545 | 776,741



rants the development of a new
gas supply to augment the exist-
ing infrastructure.”

The EIA also envisages AES ©

building a 500,000 gallons per day
desalination plant on Ocean Cay
for a potable and process water
supply, and a reverse osmosis
unit. Water will then be supplied
to north Bimini via a pipeline
from Ocean Cay, although
reearth has questioned why
another reverse osmosis plant was
needed when one already existed.

“In some of the Family Islands,
including the Biminis, the current
electricity supply is insufficient
and/or unreliable, presenting a
hindrance to economic develop-
ment and expansion, the AES
EIA said.

“The project plans to provide
natural gas directly to the Bimin-
is for conversion to electricity.to
allow the supplement of current
supplies with reliable, reasonably-
priced electricity.

“Further, the initial develop-
ment and subsequent operation
of the energy facility, as well as
continued operation and expan-
sion of the aragonite mining oper-
ations, will spur job creation for
Bahamian nationals, particularly
those in the Biminis.”

Apart from economic diversi-
fication and the 400 construction
and 25-35 permanent jobs that
will be created by the AES Ocean
Express project, the main benefits
will be felt by the Public Trea-




Deloitte & Touche LEP

Two Wort Financial Center 7
New York, NY 10281-1414
USA

Tel: +1212 436 2000
Fax: +1 212 436 S000
www.delaitte.cam










fags FED MAAN bes












Member ot .
Deloitte Tuuche Yuhmatsu






December 31,













2004 2003
$359,146 $s Raa
1,172,107 1,625,707
278,000 151,000
2,036,438 1,258,820
182,437 537,250
600,012 334,891
1,632,866 1,482,553
B38, 9,908
6,398 .

11,175 8,957

4.210 5,025
32,087 20,068



$6,323,194 “$5,716,613




S$ = 1,041,778 $s


















S$ 6,323,194 $



sury and government finances.
Leslie Miller, minister of trade
and industry, has previously said
the Bahamas could receive up to
$1.2 billion over 25 years in fees

and licence payments of the AES

project is approved.

The licence the government :
_ will issue to AES is $9 million, :
and the seabed lease fee (which
allows the company to lay :

ipelin th is $6 mil- : . ; ;
Pon. a eae fay pears on a ; its Western Medical Plaza facil-

: ity on Blake Road, which is cur-
: rently held for sale. A previous
: $9.5 million deal, agreed with
i the combination of Medlink

In addition, a "throughput fee" : Financial Services and Bahamas

that measis linked to the amount : Public Services Union (BPSU),

of LNG pumped through to }
Florida is guaranteed at a mini- :
mum of $5 million a year for the :
first four to five years. The com- :

~ munity of Bimini will get $150,000 : number of buyer options relat-

.} ing to Western Medical Plaza’s

: sale, and discussions with one

The training programme to be : potential purchaser are under-

initiated by AES is between : stood to be reasonably advanced.

$200,000 to $400,000 to train ;
chighpaytis’ jobs Coa : lion loss generated by DHHS’
of $400,000 will go to BIVE and ern Medical Plaza were a major
ment has received a guarantee, : drag coi He million operat.
from the parent company, AES } Mé& carnings. Perens wicomie
International, that if the company increased by almost a third or
ever goes bankrupt, there is a ; 30.89 per cent on last year’s
fund of no less than $10 million ;
for compensation to the Bahami- :

? reduced earnings per share (EPS)

2.5 per cent increase every year.

Guaranteed

a year for 25 years to assist with
economic development.

an workers.

In the first year of operation, '
the public treasury is expected to i
receive $13.5 million. By year :

four, it goes up to $19 million a
year. ;
By. year eight, revenue is

year, and by year 12 it goes. up
to $45 million a year. .

Negotiations on the Heads of had come.a lon

Pt g way from the
snp cement Or We epic! : position it found itself in as
cluded, and all it needs is an i recently as 2002-2003, when mar-
Prime : - :
Pam + oe: .. ; its high levels of debt and
Minister: Betty, Chunisic ang his ? accounts receivables, in addition

approval from

Cabinet. |

at full health |

FROM page one

fell through amid a long wait

for government approval.
Sources told The Tribune that

DHHS is currently exploring a

In fiscal 2005, the $1.564 mil-

discontinuing operations at West-

$3.156 million.
The $.1564 million drag also

from the $0.41 generated by con-
tinuing operations to $0.26 net’- a

: reduction of $0.15 or more than a

: third. EPS from continuing oper-
_} ations was still 28.1 per cent
re nu : ahead of 2004’s $0.32, while net
-expected to rise to $25 million a ae jumped from last year’s
i $0.06.

Still, DHHS’ figures showed it

ket analysts were concerned over

TRUST OFFICER

SCOTIATRUST invites applications from qualified
Bahamians for the position of Trust Officer with a
strong background and technical knowledge in areas
of trust, company and agency management. The
applicant will be involved in the administration of a
medium to high complexity level of accounts of
trusts, companies and agencies. A good level of J
accounting knowledge is required. The person
appointed should hold a four year University Degree
ina related subject along with professional
qualifications in the Society of Trust and Estate
Practitioners (STEP) or ACIB. The ideal candidate
should have a minimum of five years progressive
‘experience in the industry. Analytical and
communication skills as well as familiarity with PC
software are essential. Preference will be given to
applicants with language skills. Interested persons
should submit applications in writing marked Private
and Confidential to the Manager, Client Services,
P.O. Box N-3016, Nassau, Bahamas. Applications
should be received no later than Friday, 22nd April,
2005. ,






storey apartment block.

to reach us before May 20, 2005

Serious enquiries onlly!!!

Investment Opportunity
MUST SELL |

“| “Lot No. “K”, containing 6,750 sq. ft., St. Vincent Close Subdivision situate on the southern side of
St. Vincent Road, about one mile west of Blue Hill Road, comprising a triplex apartment and a two-

For condition of the sale and any other information, please'contact:
The Commercial Credit Work Out Unit
at: 356-1686, 356-1685 or 356-1608 Nassau, Bahamas ».

Interested persons should submit offers in writing addressed to:
The Commercial Credit Work Out Unit, P.O. Box N-7518, Nassau, Bahamas

Financing available for the qualified purchaser

to fearing it had expanded too
quickly with Western Medical
Plaza. 4,
DHHS’s share price now
stands at a 52-week high of $1.50,
having been a great investment
for shareholders who’ bought in
between now and its 52-week low
of $0.35. And Western Medical
Plaza’s loss has fallen by 39.4 per
cent from last year’s $2.579 mil-
lion. :
Joseph Krukowski, DHH
chairman, said in a letter to share-
holders: “Earnings per share
jumped from $0.06 to $0.26,
reflecting a 10.5 per cent increase
in total revenues, continued pru-
dent management of expenses
and a significant reduction in
operating costs for discontinuing
operations. The record breaking
financial results reflect increases
in business volumes across.a
broad range of services.”... .*
Refocusing on its core Collins
Avenue facility has brought quick
rewards, though, as “a:significant
reduction in long-term:debt”
ensured that DHHS’s fiscal 2005
year-end cash position incréased
to $3.2 million from $593,000.the
year before. i vette
DHHS said cash from operat-
ing activities totalled $3.7 million,
compared to $0.5 million thé year
beforé, a 139.5 per‘cent increase.
Net receivables fell by 4.9 per
cent, while the number of days
of revenue in accounts receivable
(AR) decreased to 70 days ftom
82 the previous year, reflecting
more timely settlements-of claims
by insurance companies... |
Darron Cash, DHHS:: chief
financial officer, said:.“This has

' been a challenging yet tremen-

dously rewarding year for.every-
one in our organisation: In some
clinical'areas in particular; where
we experienced record numbers
of patients and procedures, ‘our
Associates rose to the occasion
and performed magnificently. We
are all so proud of them.” :

DHHS’ operating expenses
rose slightly in 2005 compared to
the previous year, growing by 8.8
per cent to $21.791 million, but
provisions for doubtful accounts
fell by 7.7 per cent $857,000 from
$928,000.

Total liabilities fell from
$17.132 million to $15.578 mil-
lion, while shareholder equity
rose from $8.169 million in 2004
to $10.737 million. sak

Barry Rassin,. DHHS chief
executive, said: “We have. been
successful in our ongoing efforts
to achieve excellence in quality
patient care. We have reached
new heights, and there is a posi-
tive momentum aimed at mak-
ing greater improvements in cus-
tomer satisfaction.:

“Our Associates have been an
integral part of our plan to ensure
continued growth of the compa-
ny through excellent service to
customers and physicians; I
applaud them for the tremendous
work they do. J also thank our
physicians and the Bahamian

community for their continued.

support.” ;

DHHS has scheduled its annu- -

al general meeting:(AGM) for
May 19. shes

aah

‘

}
t



)







|
|
i
i
}
\



THE TRIBUNE MONDAY, APRIL 18, 2005, PAGE 9B



=i 0TST 1 toys)

Terror database is closed down BW ree
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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 APRIL,
2005 to the Minister responsible for Nationality and Citizenship,

P.O.Box N- 7147, Nassau, Bahamas.













Telephone Nos: 242 367 - 0432-3
Telefax No: 242 367 - 0434
Email: sbcallender@batelnet.bs
Postal address: P.O.Box F-44636.
Dec OUR TTC mM stininT





INTERNATIONAL. FINANCIAL SERVICES ‘Doctors Hospital Health System Limited

eg:

0 wer mbe rng Year Ended January 31, 2005

Chairman’s Report
Doctors Hospital Health System Limited

Dear Shareholders

On behalf of the Board of Directors, I am pleased to present our Company’s results for the year ended
January 31, 2005.

Net income for the year was $2.6 million, representing the highest net income in its history, a
significant improvement over the $0.6 million reported last year. Earnings per share jumped from
$0.06 to $0.26, reflecting a 10.5% increase in total revenues, continued prudent management of
expenses and a significant reduction in operating costs for discontinuing operations. The record
breaking financial results reflect increases in business volumes across a broad range of services.

Following a few challenging years, Doctors Hospital is now stronger and better positioned to
meet the emerging challenges of a dynamic healthcare environment. The cash position is
stronger, the leadership’s focus is sharper, and the commitment to excellence in patient care
has never been greater.

The Board of Directors is pleased that the return to solid profitability and a stronger balance
sheet once again affords us the ability to reinvest in the future of our company—through
training our Associates, community setvice projects, and investments in facility upgrades,
equipment, and information technology. The Board attributes much of this success to the hard
work and dedication of Associates, strong physician support, and the continuing confidence
and patronage of thousands of Bahamians and visitors. The Annual General Meeting is
scheduled for Ma 1.4 2005. at which time.we will. funthes, elaborate, sinmuthe vee Ss: SHECESSES: iY



Joe Krukowski
Chairman
March 14, 2005

NOTICE

To All Doctors Hospital Health System

Shareholders

The Board of Directors of Doctors Hospital Health System reports below summary financial results for
the year ended January 31, 2005.

‘fee bom

SECURITIES: BROKERAGE - ASSET MANAGEMENT - MONEY MARKET. - MUTUAL FUNDS -' CORPORATE FINANCE

VACANCY NOTICE
SECURITY OF FICER

Core Function: Protect employees, visitors
and property

Education and Other Requirements:



Consolidated Statement of Income
(Expressed in thousands of Bahamian dollars)

Year ended January 31,
2005 2004



° Three (3) BGCSE/GCE passes with ‘C’ grades or

above or equivalent/high school diploma. CONTINUING OPERATIONS |

Revenues ; :
Patient service revenue, net R $ 25,956
Other : of 330

Total revenues i ; 26,286

¢ Good human relations skills

° Knowledge of policing principles



° Punctual reliable and energetic Rixpouses

Operating 791, 20,031
Depreciation 7 1,558
Provision for doubtful accounts 928
Total expenses : 22,517

Income from continuing operations before interest . 3,768

e Clean Police Record
° Good character

Interested persons should submit copies of their academic
certificates along with three character references to:
Interest expense (612)
The Human Resources Manager
DA 4121
c/o The Tribune
Nassau, Bahamas

Income from continuing operations 7 3,156

DISCONTINUING OPERATIONS

Loss from operations of discontinuing businesses (1,474) (2,426)
Loss on disposal of discontinued businesses (89) (152)
Impairment of property plant and equipment -

Loss from discontinuing operations (1,564) (2,579)





NET INCOME _ 2,568

Earnings per common share:
From continuing operations
Basic

Selected Balance Sheet Data
(Expressed in thousands of Bahamian dollars)

January 31,
2005 2004
Cash position at end of year $ 3,199 $ 593
Patient accounts receivable, net 939 797
Receivable from third party payors, net 4,628 5,056

Property, plant and equipment 15,474 16,449
Total current assets ee = 10,380 pe 8,284

Total assets 26,315 26,301
Total current liabilities : 4,213 3,412

Total liabilities 15,578 17,132

Total shareholders’ equity $ 10,737 z $_ 8,169

$228,000.00

Middle Income Home, Suffolk Unit 2, Block #51, Lot #3,
3 bed, 5 bath, central air, fully landscape, washer & dryer.



Pe Grand Bahama « Phone: 359-2190





PAGE 10B, MONDAY, APRIL 18, 2005 THE TRIBUNE BUSINESS

Rane

Government agency for machinery and equipment financing (FINAME) (Note 15) 62,154 27st 62,154 22,751
Derivative financial Instruments (Note 6) 7 42341 137,580 WANES. 137,09,
KPMG Auditores Independentes Real: eu i730 ans isos
Mail address Office address Central Tel §5 (11) 3967-3000 eae EE Sts
Caixa Postal 2467 R. Dr. Renato Paes de Barros, 33 Fax National 95 (11) 3079-3752 Coliection of taxes and contributions 108 125 108 125
Foreign currency pon folio 16) 175,370 $52: 370 5
01060-970 Sao Paulo, SP 04530-9804 Sao Paulo, SP Intemational 55 (11) 3079-2916 comes acer (Note 16) 31 : yo 175.3% : eae
Brazil Brazil www.kpmg.com.br Taxes 32,567 32,788 33,739 38359
. Sccurities clearing accounts 4,750 1,413 12,294 9,163
Others 3,008 12,408, 41,202 14,657
Leng term Babuitles . 164,589 987,526 I71, 185 261,574
Depesits (Note 13) 46,473 801,763 473. 93,459
: 2 Interbank deposits cS 718,304 : -
Independent auditors report : : Time deposits 46473 33,459 46473 13,459
: Money market repurchase commitments 7.190 : 7,190 -
To Own pontfolio 7,190 - 7,190 :
The Managers and Shareholders Borrowings Ee
Banco Fibra S.A. Foreign borrowings (Note 14) 32,748 17,760 32,748 10,112
Sao Paulo - SP Repass borrowings from public sector “60.607 120,809 61215 120,809
Government agency for machinery und equipment financing (FINAME) (Note 15) 60,607 120,809 61,215 120,809
We have examined the balance sheets of Banco Fibra S.A. and the consolidated balance sheets of Daisailve naluced wsiraisease (note g) ss 106 3k
Banco Fibra S.A. and its subsidiaries as of December 31, 2004 and 2003 and the related eee iné ae . ae
A statements of income, changes in shareholders’ equity, and changes in financial position for the eat
' years then ended, which are the responsibility of its management. Our responsibility is to express Other Habllides ss ass as tT
3 an opinion on these financial statements. ° Fiscal 3,269 13,042 2959 13,042
a = Others ; : 14,196 11,834 15,494 11,834
f Our examinations were conducted in accordance with auditing standards generally accepted in Ging ele ape Ae ans 232
5 Brazil and included: (a) planning of the audit work, considering the materiality of the balances, baa! 3 aan 3564
: the volume of transactions, and the accounting systems and internal accounting controls of the Deferred income 4 232 4,869 3
f Bank and its subsidiaries; (b) verification, on a test basis, of the evidence and records which Shareholders’ equity 425,687 414735 |_ 425,687 414,235
af ing i i i . i © most .
re support the amounts and accounting information disclosed; and (c) evaluation of th rie Eanes setae ach ssn seas Se
i significant accounting policies and estimates adopted by management of the Bank and 1 Copia served 5190 4.031 5.190 ‘agat
iB ease . i its taken asa whole. Revenue reserves ' 25,229 23,427 25,229 23,427
f subsidiaries, = well oe the presentation of the financial sea Adjustment to market value - Securities and derivative financial instruments (Note 4c) (346) (956) (346) (956)
i 1 th Retained caminys 159,144 151,763 359,144 153,763,
: ini i i ts present fairly, in all material respects, the SS
® In our opinion the aforementioned financial statements p Y> Peels: 7,035,355 6,436,980 6,514,055 $,728,207

' financial position of Banco Fibra S.A. and the consolidated financial position of Banco Fibra
S.A. and its subsidiaries as of December 31, 2004 and 2003, and the results of its operations, and
changes in its shareholders’ equity and changes in its financial position for the years then ended,
in conformity with accounting practices adopted in Brazil.

Sec the accormpanying notes to the financial statements.

January 28, 2005

KPMG Auditores . .dependentes : :
CRC 2SP014428/0-€ : “

SOAP TEER Tha EE Mee oF

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries



Fy Fry Se



Notes to the financial statements

a Swiss ceoperutive

(gx ssato ; :
Asebuntant CRC 1SP160769/0-0 ee Les sls nenuner «Baa

Banco Fibra S.A. Years ended December 31, 2004 and 2003



(In thousands of Reais) :
Balance sheets :



Years ended December 31, 2004 and 2003





















# In thousands of RS rN
ee ¥
Pa A 5
Z ; ,
cn 1 Operations ®
a Banco Fibra S.A. Fiben Consolidated . \
i : Banco Fibra S.A. is organized as a multiple service bank, and its operations involve commercial
a Current assets 6800785 __ 5,458,439 6395361 __ 5,688,493 banking, foreign exchange, investment, credit and financing transactions. The Bank also
‘A ait ad Gaul ace : 17938 6823 an 6,902 operates, through its subsidiaries, in leasing, brokerage of securities, and management of
i . eae ca a iizges ia investment portfolios and investment funds.
|
f 4,048,113 2463456 4,048,113 2,463,456
x aca acral 413 20421 4,809 20421 / : . .
oy Sooviis i ack 79643 : 73.643 : 2 Presentation of financial statements
a Securies and derivative financial instruments (Note 6) ~ 1,584,159 2,268,394 1,061,490 2,277,755 . : ‘ :
A ra ae eo ie poe The financial statements of the Banco Fibra S.A. (“Banco Fibra”) include the balances of its EY
in i uijests vepuncat Gossbiaal 361,331 741,810 361,531 1,337,404 foreign branch (Note 12) and are presented together with the consolidated financial statements of ;
e Derivative financial instruments 378382. 182,399 42,420 197959 Banco Fibra and its subsidiaries (“Fibra Consolidated”)
ie ’ Deposited with the Central Bank ae 112.378 ne wan | 7
fF Pledged as guarantees : 12,100 14,407 i .
e :
ee Interbank accounts (Note 8) 66 nO 066 290 s 7
e ; 2 j ane 3 Consolidated financial statements
ek Ccoraton stse: 126 é 126 : : :
Li Conrespondents 40 7 40 ° The consolidated financial statements of Banco Fibra include its foreign’ branch and the
we Leass (owes) , 647,235 506,692 647235 $06,692 subsidiaries .Fibra Leasing ‘S!A. +-Atréndamento ‘Mercantil (99.99%), Fibra Distribuidora de
et 1 Ee : 7 sect Titulos e Valores Mobilidrios Ltda. (99.99%), RTSPE Empreendimentos e Participagdes Ltda.
me Publis cosses whgees 3,631 7634 3,631 1634 ‘ 1(99.99%), Fibra Companhia Securitizadora de Créditos Financeiros (99.99%), Fibra Companhia _
ef Prva oe oa Bee > naman Gates a (ee Securitizadora de Crédito Imobiliério (99.99%), Fibra Projetos ¢ Consultoria Econémica Ltda
a Allowance for loan Loseea (12,962) . ; (99.99%) and Banco Fibra International Ltd (100.00%).
se i Lease tons (Note 9) - : 1,517 1,726 .
2 Lease receivables ~ Private sector aan 4362 1,843 Income and expenses, and the balances between consolidated companies were eliminated in the
a ‘Allowence forlease loeces 737) 3) G65) ay consolidated financial statements. (Note 20) ; 4
e ; : F . oye . Lease transactions, stated at their net present value, are classified in current and noncurrent assets
i Fetes antics poius oles 1) 357,470 136,887 aan wast in the consolidated financial statements. These transactions were originally presented in the
ut Income receivable . “ites via Frei a financial statements of Fibra Leasing, as permanent assets (“Leased fixed assets”) and current
oe eae peers sg 2, aie a and long-term liabilities (“Other liabilities - Others” and “Residual value prepayments”).
ae Tax credits (Note 18) 5, ; f
-Others. (Note 17.2) 19,495 4018 67,479 44,033 : ‘ . ° -e ao ae .
é sce ee ty) aa 8m) “rm (35 Banco Fibra S.A. and Banco Fibra S.A, and its subsidiaries
at :
Â¥ Notes to the financial statements
eo Other assets 7 9,792 8,409 10,275 9,090
E Vatuation alowance 4675)» (4901) (4908) (53240)
a Prepaid expenses | 4135 ams 5ai8 428 (In thousands of Reais)
Leag terms assets —— ae, aes _ 987 _9 8 4 Significant accounting policies
=f Interbank fends applied (Note 5) ; S90 230) / ;
ss a a . a5 2 The accounting practices adopted - for the recognition and preparation of these financial
ae an statements are derived from Brazilian Corporate Law, and the mules and instructions of the
2 Socertiies and dertvative fieancial instruments (Note 6) 2197S Brazilian Central Bank (BACEN). The main accounting practices are as follows:
# : 2008. : 2,008 ; ,
4 Own portfolio ,
at Subject to repu-chase commitments : “3 Gone “3 eu a. Recognition of income
ae Derivative finencial instruments . b :
é
Lease (Note 9) 103,313 138,544 103,313 138,544 Current operating income and expenses, and transactions exposed to monetary variations are
‘ ee . : accrued on a daily basis. Operating assets and liabilities exposed to exchange variation are
2 Publis wecnar 18,120 18,206 18,120 18,206 price.level restated according to the foreign exchange rate at the balance sheet date; according
* Biivuie sector 85,193 120,338 85,193 120,338 to the contractual clauses.
* Lease operations (Note 9) SS eS : ;
s i, acd ce as F ie b. Interbank funds applied
% Allowance for lease losses oa (3,506) : (3,506)
eo. Stated at cost value plus income accrued up to the balance sheet date.
a Ocoee recetvabes 3, ___ gs) 5868087
ia Income receivable : 1,202 : 1aon 2 c. Securities
Pi ‘Securities clearing accounts 329 1347 .
A . :
Fd ‘Tax credits (Note 18) 7 55,663 69,010 $6,199 69,010 Are classified into three categories: “trading securities”, “securities available for sale” and
2 Otrers (Note 17.) : 12,383 . 1s “securities held to maturity”. Securities classified as “trading securities” are stated at market
‘al Other nevets 1013 : 1,013 : value, with adjustments stated in an offsetting entry in the appropriate income or expense
3 : oa ve . account for the period. Marketable securities classified as “available for sale” are stated at
3 Pregeid expenses : : the market value and adjustments thereto are stated in a separate account in shareholders’
a Permanent asset —— S08 T_T 0, equity, net. of tax effects, and are restated to income for the period in which the effective
ay ; disposal thereof occurs. The “securities held to maturity” are stated at acquisition cost, plus
val: Eee . Rs “gn 6,696 6,680 : Sac, etait ‘
af ; interest accrued up to the balance sheet date. Recognition in this category depends on the
Po - ude harrmre ibe : . aan uae : : financial capacity of the institution to retain them until maturity, which is a Management
ae ‘ona prucioalrl gam Foreign : 6326 6310 6,96 6,880 decision, based on projected cash flow and does not take into consideration the possibility of \
“a . 3 ay
g fa ia sis Al sale disposal of these securities. (Note 6a)
a Rie Saas
28 Property, plant and equipment for own use 10,521 10,524 8,979 d. Derivative financial instruments
# Accamulsted depreciation - 637 (5,947) (6,380) (5,920) ;
ie ee ; 7 :
8 Deferred expenses / _ 3367 wy T_T : Derivatives are stated at their market values on the balance sheet date, and are used to
i Lg , sm 2.309 57 2,309 manage overall risk exposure, and not for hedging purposes. They are accounted for under
ae ‘Accumulated amortization 80562) 904) 882) the appropriate income’ or expense account, as presented in the statements of income. (Note
i SSIES, GH SUAS, 5.72807 b)
a 4 ‘See the eccompanying noes to the financial statements. : ° ‘i : : oa: :
; Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
FI Baace Fibra S.A; Notes to the financial statements
e : :

(In thousands of Reais) i
fi Balance sheets : ‘
a) 2 \
B, ’ {
4, Wears ended December 31, 2004 and 2003 bine e. Allowances for loan and lease operation losses and other receivables
S In thousands of RS :

i, . . 2
» Recorded at amounts considered sufficient to cover possible losses. The Central Bank of
2 Brazil, under Resolution 2682/99, established rules which are based on an analysis of the
3 beara ake Firs Caaeauduicd risks of clients’ current operations and on past performance as well as specific sector or
" Lisbidttes 2004 2003 7004 2003 portfolio risks (Note 10).
# Current labulictes : 6,460,210 5,032,397 3,912,314 3,049,576
ey nee) . . a nen f. Other assets
Ry Deposits (Note 1,335,507 836,753 é
& = one wn mies sa Assets received as payment are recorded under the heading ‘Other assets” and include
E Tine deposits 906.315 as 906,318 77652 provisions established in an amount considered sufficient to cover probable losses on
. Other deposits 375 : 375 : realization. :
» Meacy market repurchase commitments 4,335,354 3,733,222 4,335,354 3,754,345
‘ Ova ponfolio 323,458 1,315,199 323,458 1.314822 g- Investments
: ‘Third-party ponfolio : 3,701,173 2,440,023 3,701,173 2,440,023 zi
ae Free mavemen portfolio : 310.223 : 310,723 ‘ Investments in subsidiaries are valued according to the equity method of accounting. Other :
fe laterbank accounts ’ _29% 229 ; 2219 investments are valued at purchase cost and price level restated up to December 31, 1995, \
G wisn : ae 2 a less a provision for losses, when applicable.
Imerbenk repasses 23,926 - :
‘seis ‘isi ies ae 433 h. Premises and equipment and deferred expenses
Oi ten inne Be, ee ““ oe Re Depreciation of property, plant and equipment and amortization of deferred expenses are
Serrowiags : ; SI NGS IT 24 calculatéd using the straight-line method at the following annual rates and terms: (a)
ackigu Cacctigs sie 4h sia ions saan isan property, plant and equipment: vehicles and computer systems - 20%, other assets - 10%, (b)
deferred expenses: costs of acquisition and development of software - 20%, and leasehold
Repass borrowings from public sector 62,154 23,751 62,154 22,751

improvements - rental contract term.

ag



THE TRIBUNE BUSINESS .... MONDAY, APRIL 18, 2005, PAGE 11B

i. Income and social contribution taxes ;
December 31, 2004 f
The provision for income tax is recorded at the rate of 15% plus a surcharge of 10% on
Banco Fibra Fibra Consolidated

annual taxable income exceeding R$ 240. The provision for social contribution taxes is

recorded at the rate of 9%, in accordance with prevailing legislation: Further details of these National Treasury Bills - LTN e659 i ee
tax effects are disclosed in Note 18. Others 1,036 1,036
Banco Fibra §.A. and Banco Fibra S,A. and its subsidiaries _ _ Total (1) 59.693 see

(1), The total margin values deposited is comprised of R$ 47,648 deposited by the Valéncia Fund.

Notes to the financial statements Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

(In thousands of Reais)
5- Interbank funds applied Notes to the financial statements

a ft:
Money market - Repurchase agreements Uivthousands of Reais).

Money market investments are represented by securities in the amount of R$ 4,048,113 (R$ q Risk management

2,463,456 in 2003) pledged by Federal Debt Securities in Banco Fibra and Fibra Consolidated.

Control of market risk exposure, focused on the risk management of the positions assumed by
Management, is directly subordinated to the Senior Bank Executives. The management of

Scourities aud deulvaiiys inane ayes market risk involves a set of: controls, which includes the value at risk (V@R) concept witbin
iti j ; certain. parameters, using the optimized Exponential Weighted Moving Average - E.W.M.A.,
a. Securities portfolio t r : a aia
: : which assigns greater weight to more recent events and stress tests. |e purpose o: ;
Banco Fibra —______Fibra Consolidated assess the maximum loss potential of a portfolio, taking into consideration the worst-case

scenario which could occur. Combined with other risk assessment instruments, they aim at







2004 2003 2004 2003 2 Sea ect
presenting, quantitatively, the risks assumed by the Bank. The Bank’s risk exposure policy is
“value aie ahs Aerie vad : ee considered to be conservative, and the V@R limits and stress scenario are periodically authorized
by a specific committee, which comprises members of the Board of Directors, the Executive
‘Trading (1) 0.38 983.509 2.079.064 = 1.001.002 1,004,229 2.112.865 Committee, Risk Management, and Controlling and Funding areas.
Financial Treasury Bills - LFT 4,587 4,581 555,104 4,761 4,754 556,250 ay ‘ ; re 3
National Treasury Bills- LTN 462,736 463.004 seal 462,736 53.004 4076 The pricing models used by the Bank were developed internally and the calculation of the curves
National T: Notes - NTN 29,426 29,796 74,607 30,734 31,11 74,607 - Lys, :
Conta Bask Novis: NBC 81,271 82,240 470,587 81,271 82,24) 470,587 : and reference prices are the responsibility of the Risk Management department, ee
pee came ines see 4 4030 wean saeae ee methodology is approved by senior management of the Bank and takes into consideration the
Investment , Fs > . R | ’ Sale i fe . -
. Shares of publicly traded companies 20,077 21,305 19,710 20,077 21,304 19,710 characteristics of each negotiated financial instrument.
Euronotes and commercial papers 74,538 74,928 59,874 74,538 74,927 59,874
Other ; - - + $,069 z a 5,219
Held to maturity (3) 419,968 419,968 603,242 12.631 12,631 2299 : 8 Interbank account
Euronotes and commercial papers (3) 419,968 419,968 602,860 12,631 12,631 7,417
- - 382 : 382 : 1 :
a On December 31, 2004, it was comprised of checks and other documents pending settlement in
Available for sale (1) 2,527 2,253 8,557 2527 2,253 % : 3 : 2
Financial Treasury Bills - LFT : : 7,058 a s 7,058 the amount of R$ 1,066 (R$ 1,290 in 2003) in Banco Fibra and Fibra Consolidated.
Shares of publicly traded companies 2,527 2.210 2,527 2,210 '
Pri it : : 449 : - ino : : : sass
co : is “ . ne Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
Derivative financial instruments 278.985 278,382. : 297,810 43,020 42,420 168,284
. Swap Receivable 278,985 778,382 280,883 43,020 42,420 151,357 ’ Bs
Forward transactions - - 16,780 A - 16,780 7 cs ;
Other j 147 : : 12 - Notes to the financial statements
Total portfolio LSRIR60 584202 -LORRGT «4.059.180 Lossy 2.297.505 oes
. : 4 ; < Bases (In. thousands of Reais)
Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
\ 9 Loans and lease operations (Consolidated)
a. Composition of portfolio
a 2004 : 2003
Notes to the financial statements
RS % RS %
(In thousands of Reais) Loans 763,510 58.0 659,408 68.5
(1) For the categories “Securities available for sale” and “Trading securities”, the book values of the securities were Working capital : 492,007 37.4 364,600 37.8
: calculated using the following criteria: a) federal debt securities; forwards and options are priced as described in c I
: . or ‘ Ft a A Onsumer loans 57,657 4.4 29,978 3.1
. Note 7; b) Publicly traded equity securities, and forward transactions linked to these securities are priced Repass under Resolution 2770 33,970 18 28 326 29:
according to the average quotation available from the last quotation made available, or in,the absence thereof, the ; ae ‘ 23; ‘| . a
* most recent quotations, published in the Daily Bulletin of each Stock Exchange; and ¢c) Swaps, based on the mport ancing loans : 22,234 1.7: 27,413 2.8
reference values of each contract's parameters (part and counterpart, except Fibra Group), taking into account the Repass - National Bank for Economic and Social Development -
cash flow discounted at the present value-based on interést rates disclosed based on the pricing model described in BNDES é : 123,777 94 116,793 17.0
Note 7, according to the terms of each contract. , Vendor and Compror : 41,287 3.1 53,977 5.6
¢ I Fund - Val FIF | fund portfoli ised, inl f the followi Financial Other 2,583... 02 srt, i
2) Investment Fund - Valéncia is a mutual fund portfolio comprised, mainly, of the following:. Fi i Lease ti 3 ‘ 4 s
Treasury Bills - LFT - R$ 146.961, Shares of publicly-traded companies RS 20,898, Swaps eee a ; ae - 03 aaae a
R$ 22,240, with counterpart of Banco Fibra, Private bonds R$ 21,217 and Others R$ 8,737. The portfolio of the 2 Port. 217, 16.5 82, x
exclusive Investment Fund - Barcelona, included in the consolidated financial statements of Fibra Consolidated is * Other receivables feat 7,028 0.5 8414 0.9
comprised of the following: Repos pledged by Financial Treasury Notes, with counterpart of Banco Fibra. Co-obligations and risks from guarantees provided 325,228 24.7 207433 _21.5
R$ 109,933, Swaps R$ 3,283, with counterpart of Banco Fibra, Private bonds R$ 4,444 and Others R$ 32. ‘Total loa aiid lease aperteicns
(3) As of December 31, 2004, the market value for securities held to maturity are not different from the book values atte Fete at = ite $
"presented, In Banco Fibra, this includes R$'407,380 (R$ 595,443 in 2003) of “Euro Medium Term Notes” issued: 5. Distribution by economic activity
by Fibra Leasing S.A., eliminated in Fibra Consolidated. f : ; 2004 2003
In December, 2004 the amount of R$ 130,356, presented as “held to maturity”, was sold. This ; ‘ RS % RS %
operation affected the income for the year in the amount of R$ 2,239, and reflected the ladustry 589,873 44,7 440,840. 458
+ reassessment of management’s intention to:hold those securities to maturity. 29 re i SPAS «Commerce «* °~ ts : 188,398 143 103,193 10.7
Shet se adinacstbusswae ed Geb st CMU BO} gis Paap ailiiohl goin @ aol 3 a Services ‘ 404,039 30,7 343,252 35.6
Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries : v0 UNgriculmare’:'s We 20'526 (jess OBO 20M
' 192 a “Realestate ee 2,662 0.20.05 - :
Sane, Public sector " 29,809 23 —-25,840 27
: : i Financial intermediaries 27,455 20. 5,950 t 0.6
x Individuals 2,417 40,421
Notes to the financial statements 2412 40 40.421 42
Total aod 312179 100.0 963,576 100.0

(In thousands of Reais) : ; ; ‘ Bee
Pe ene ee Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

b. Derivative financial instruments - Swaps and forwards

The Bank enters into operations with derivatives for the purpose of addressing its own and t
client-needs to reduce exposure to market, currency and interest risks. The Bank has invested

in developing system controls, focusing on management of those risks. The risk management : Notes to the financial statements
is performed based on limits and operating strategies. The derivatives, in accordance with
their nature and specific legislation, are accounted for in the balance sheets or as off-balance (In thousands of Reais)

items. As at December 31, 2004, the derivatives recorded in the balance sheet and as off-

balance items include forwards and swap contracts, as follows: c. Largest debtors









: 2004 2003
Swap contracts . Banco Fibra ‘ Fibra Consolidated
3 ) : %of %of %ot %of
Receivable - Assets _Liabiliti Net receivable Assets Liabilities | Net receivable : =
CDI vs. DOLLAR 627,676 567,832 se 59,844 543,289 502,915 42,374 RS Portfolio Equity © R$ _ Portfolio Equity
-CDI vs. PRE 23,124 23,078 46 23,124 23,078 46 es oe
y PRE vs. DOLLAR 616,652 398,160 218,492 - - > : ’ Largest debtor: 31,287 2.4 7.3 43,338 4.5 10.4
us Bee Lao ee eee 218,382" 508413 525.998 eee 10 largest debtors 191,482 145 45.0 266,475 27.7 643
ayable : i 2 H x
* DOLLAR vs. CDI 560,104 602,850 (42,746) 496,136 536,753 (40,617) 20 largest debtors 300,926 22.8 70.7. 389,838 40.5 94.0
CDI vs, PRE 5,046 5,047 q) 5,046 5,047 ql) 1 ; ‘
PRE vs. CDI 23,844 23,796 48 23,559 23,464 95 | Sibsy ie ;
Other 905 653 "252 905 653 252 d. Distribution by maturity
TOTAL "589,899 632.346 (42,487) 525,646 565,917 (40,271)
2004 2003
Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
* RS % RS %
Up to 30 days : 295,766 22.4 219,786 22.8
7 From 31 to 60 days ; 214,790 16.3 © 162,167 16.8
' Notes to the financial statements From 61 t0 90 days 124,669 9.5 84,783 8.8
es From 91 to 180 days \ 259,400 19.7 191,522 19.9
(In thousands of Reais) : From 181 to 360 days 235,486 17.9 150,792 15.6
c. Maturity of securities and derivative financial instruments : More than 360 days 187,06 —142 154,526 16.0
Banco Fibra 311090; a1 ease i a ars : Total = 1312179 100.0 963,576 100.0
Categories Up to 30 days days days 360 days days Total 2004 Total 2003 ; :
Trading 883,599 - : te - 883,599 2,079,064 Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
Held to maturity 6,000 96,351 52,177 265,440 - 419,968 603,242 : i
Available for sale 2,210 - - - 43 2,253 8,557
Derivative financial
instruments (assets) 55,682 52,746 22,347 147,607 - 278,382 297,810
Tota 947491 - 149.097 74.54 aug’ spa.zm sea Notes to the financial statements

anon. : .

Sumeae annie} (39,501) (40) (192), (3,006) 292 (42,447). (159,898) (In thousands of Reais)

= 10 Distribution of loans by risk rating levels
ra Consolidated

Chicas ‘ si 31 to 90 91 to 180 181 to More than
‘ategories p to jays day: d 360 da 360 di Total 2004 Total 2003 - ° ° 9 °
: ™ " CNet ° a. Presentation of the Loan and Lease Portfolio by risk levels - Fibra Consolidated
Trading 1,004,229 x Z i - 1,004,229 2,112,865 ;
Held to maturity 6,000 “ 6,631 2 ss 12,631 7,199
Available for sale 2,210 it 2 b 43 2,253 8,557. _Current pos Overdue.
EE ey 38.213 2.143 604 0 . a 168.284 Risk Minimum ‘Installments Total Total
ae Ge Level provision RS Provision Overdue not due Provision operations provisions
Total 1.050.652 2,143 1325 4370 43 1,061,533 2,297,505 AK - 424,682 “ ~ 424,682 :
Derivative financial (37,357) (8) (192) (3,006) 292 ( 40271) (159,747) : Teo gases Sasi 8 7 page eey seen
n ae , (159, B 1.0 345,082 3,451 1,268 237 15 346,587 ,
tegerymnents (hebilities) : Cc 3.0 146,731 4,402 819 308 34 «147,858 4436
B Bien dB . . ; D 10.0 4,875 488 9,993 563 1,056 15,431 1,544
idiari E 30.0 1113 334 316 843 348 2,272 682
anco Fibra $.A. and Banco Fibra S.A. and its subsidiaries E sop at ioe at ei ai 316 ase 2 ie
G 70.0 - - n2 270 239 342 239
H 100.0 5,110 5,110 109 2,016 2,125 7.235 7,235
Total in 2004 "1290933 46.551 12.28 4,518 4033 LAL? 20.584
Notes to the financial statements % of pontolio 98.7% 1.0% 0.3%
(In thousands of Reais) Tee 26421 ila Ltt ia 2.0, 263.16 os
% of pontolio 99.2% 0.49 0.4%
d. Notional value of derivative financial instrument, distributed between places of , b. Allowance for loan losses - Consolidated
negotiation, as follows:
4 2003
December 31,2004 200
Banco Fibra Fibra Consolidated Opening balance 22,087 21,613
CETIP (over the counter market) 1,205,292 1,129,721 Write-offs against provision (8,871) (11,328)
BM&F 19,338 __ 19,338 Provisions recorded:during the year 12,980 11,870
; Credit assignments (5,612) ' p=
Tota 1.224.630 1.142.059
: ° ° : : ° 4 B 17
e. Presentations of margins deposited in guarantee for derivative financial instrument Closing balance 20.38 22,082
transactions

EEE AEE REE BE PE OP OREN AE NE REE AE PLE EP IERIE PACT GE ATER EEE AE ELLE REL IG EEL AE SMG EDV BW A IM nia



PAGE 12B, MONDAY, APRIL 18, 2005 THE TRIBUNE BUSINESS

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries 15. “osaetie Gotan barawine.

At December 31, 2004, domestic repass borrowing refers to funds raised from BNDES and
; - FINAME for operations with clients, totaling R$ 122,761 in Banco Fibra (R$ 143,560 in 2003)
Notes to the financial statements and R$ 123,369 in Fibra Consolidated (R$ 143,560 in 2003).

Distribution amongst maturity

(In thousands of Reais)
The total recovery of loans written off during the year amounted to R$ 1,150 (R$ 3,697 in 01030) 3108 611090 9100180 182 More
2003), and renegotiation of. loans amounted to RS 1,134 (R$ 5,121 in 2003) in Banco Kibra days "days aes Cae 360 aa de Total 2004 Total 2003
and R$ 1,192 (R$ 5,172 in 2003) in Fibra Consolidated. z
: Banco Fibra 4,498 4,418 4,464 31,543 17,231 60,607 122,761 143,560
Fibra Consolidated 4,498 4,418 4,464 31,543 17,231 61,215 123,369 143,560

c. Credit assignments

During 2004, loan contracts were sold to Fibra Securitizadora de Créditos Financeiros, 16
(subsidiary) in the amount of R$ 12,263 in Banco Fibra and R$ 1,263 in Fibra Consolidated.
Such transactions did not produce any impact on net equity nor on the statements of income

_for the year, as the provisions recorded at Banco Fibra were maintained at Fibra

Foreign currency portfolio

Banco Fibra and Fibra Consolidated





Securitizadora de Créditos Financeiros. 2004 2003
Interbank Clients Total Interbank Clients Total
11 Investments in subsidiaries Assets 147815 209,655. “357,470 5134185516 136.857
Foreign exchange purchased pending 2
2004 2003 settlement . 59,954 207,071 267,025 38,651 84,277 122,928
: Rights from exchange sold 87,861 18,336 106,197 12,690 405 13,095
(-) Advances in local currency - (19,059) (19,059) - (405) (105)
Subsidiary %of Shareholders Net Amount of Amount of Income receivable : 3,307 3,307 - 1,239 1,239
ownership equity income Equity investment investment se ais
Fibra Leasing S.A. Arrendamento Liabilities 147,634 21.236 75,37 51,400 3.835 55,235
Mercantil 99.999% 32,898 1,358 1,358 32,898 31,538 Aree ;
phe Dngbaoie de Titulos e Valores ° : Obligations for exchange purchased 59,956 223,164 283,120 38,789 84,587 123,376
Mobiliarios Lida. 99.590% 6111 968 968 6,111 5,135 Unsettled sold exchange 87,678 18,311 105,989 12,611 405 13,016
RTSPE Empreendimentos (-) Advances on exchange contracts - (213,739) (213,739) : (81,157) (81,157)
Participagoes Lida. 100.000% 320 320 320 320 ~
Fibra Projetos e Consultoria Econémica B Fib S A d B
Lida. (c) 99.999% 730 ( 269) (269) 730 a 1 1 stats
A edd acs | Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
Financeiros 99.990% 1,640 (373) (373) 1,640 998
Fibra Cia. Securitizadora de Créditos
Imobiliarios (a) 99.825% 11,564 235 235° 11,564 997
Banco Fibra Intemational Ltd. (d’ 100.000% 13,272 2,378 : 43.272 = aaa
@ 6 (2.378) Notes to the financial statements
Total 2239 66,535 38,668

(In thousands of Reais)

17 Composition of other relevant balances

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
: a. Current and long-term assets

Other receivables - Other

Notes to the financial statements Refers mainly to deposits pledged as guarantees in the amount of R$ 15,732 (R$ 13,724 in

2003) in Banco Fibra and R$ 22,387 (R$ 14,142 in 2003) in Fibra Consolidated, renegotiated

(In thousands of Reais)

References

a. On October 13, 2003, Fibra Companhia Securitizadora de Créditos Imobiliarios was
incorporated in its pre-operation stage. The going-public process is still subject to approval
by the Brazilian Securities Commission

b. In accordanée with the extraordinary shareholders’ general meeting, on November 19, 2003,
the capital of Fibra Leasing S.A. - Arrendamento Mercantil was increased by the amount of
R$ 30,000, which was approved by the Brazilian Central Bank on December 3, 2003.

c. On January 23, 2004, Fibra Projetos e Consultoria Econémica Ltda. was incorporated

d. On April 7, 2004, the incorporation of Banco Fibra International Ltd. in Nassau - Bahamas
was homologated by the Brazilian Central Bank, with an authorized initial investment of
USS 5,000 thousand. This process is pending approval by the Central Bank of the Bahamas.

loans of R$ 2,821 (R$ 4,510 in 2003,) in Banco Fibra-and R$ 5,071 (R$ 6,381 in 2003) in
Fibra Consolidated, amounts receivable from sales of assets in the amount of R$ 1,956 (R$
2,032 in 2003) in Banco Fibra and Fibra Consolidated, amounts receivable for settlement of -
operations totaling R$ 13,633 (R$ 4,790 in 2003) in Banco Fibra and R$ 21,178 (R$ 12,543
in 2003) in Fibra Consolidated, recoverable taxes in the amount of
R$ R$ 2,922 (R$ 3,191 in 2003) in Banco Fibra and R$ 5,199 (R$ 4,829 in 2003) in Fibra
Consolidated.

Current and long-term liabilities
Other liabilities - Other

Refers, mainly, to a provision for contingent liabilities totaling R$ 9,521 (R$ 9,887 in 2003)
in Banco Fibra and R$ 10,569 (R$ 10,944 in 2003) in Fibra Consolidated, and deferred taxes
in the amount of R$ 1,340 (R$ 11,124 in 2003) in Banco Fibra and R$ 6,034 (
R$ 16,246 in 2003) in Fibra Consolidated. Banco Fibra is discussing the legality of certain
lawsuits in which it appears as defendant. Based on the opinion of its legal advisors,

management does not expect significant losses from the outcome of such cases, apart from
the existing provisions. :
12 Foreign branches

The balances between the Nassau Branch and Banco Fibra, eliminated in the consolidated c. Other operating income

balance sheet, were as follows: cash and cash equivalents - R$ 91,199 (R$ 12 in 2003), interbank
funds applied - R$ 505,433 (R$ 265,228 in 2003), securities - R$ 7,946 (R$ 243,798 in 2003) and
deposits - R$ 296,568 (R$ 204,554 in 2003).

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

Other operating income refers mainly to allocation of expenses incurred by subsidiaries in the
amount of R$ 2,794 (R$ 3,139 in 2003) in Banco Fibra, and gains on renegotiation of
contracts in the amount of R$ 829 (R$ 2,601 in 2003) in Banco Fibra and Fibra Consolidated.

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

‘ a : snabrooar : MT ot Gut si sanisy Iie §
Notes to the financial statements : Notes t6 the financial statements

(In thousands of Reais)

The balances of operations undertaken by the Nassau branch, translated into reais at the exchange
rate of R$ 2.6544 (R$ 2.8892 in 2003), consolidated in Banco Fibra as detailed in note 2, were as

« (In thousands of Reais)
ad. Other operating expenses



follows: . as
‘ Refer substantially to expenses related to recovery of assets, in the amount of R$ 700
RS (R$ 571 in 2003) in Banco Fibra and R$ 1,208 (R$ 1,238 in 2003) in Fibra Consolidated and.
monetary correction of taxes payable in the amount of R$ 209 (R$ 190 in 2003) in Banco
2004 2003 Fibra and Fibra Consolidated.
t!
— e. Nonoperating results
Cash and cash equivalents ; 8,895 441 Bea E as ee
; ‘ Nonoperating income refers mainly to the net income arising from the sale of
iuertank noes pee nits See a? nonoperating assets and the respective provisions.
Securities and derivative financial instruments 713,432 1,133,151
Loans 25,044 44,957
Die arecivanles 7,901 ane 18 Income tax and social contribution
Other assets : 2,448 2,952
Deferred expenses 65 102 At December 31, 2004 the Bank recognized income and social contribution tax credits calculated
RS at prevailing rates, as shown below. These credits are recorded in assets under “Other receivables
- Other”, in view of the estimates of realization of the credits regarding Fibra Financial Group,
2004 2003 according to the expectation of taxable income, supported by technical studies.
Liabiliti Supported by technical studies related to realization of tax credits, the provision spreviously
De aad di it! 13.96 1.010 recorded for tax credits calculated over social contribution regarding Provisional Measure 2158- _
om epost 31965 ‘ 35 of August 24, 2001 was totally reverted, resulting in an increase of deferred tax credits in the
Time deposits 312,813 69,352 amount of R$ 11,530 :
Repurchase commitments 58,809 60,777 d ea,
Borrowings and repass borrowings 92,522 84,650 The amount of tax credits not recognized on tax loss carry forwards amounts to R$ 20,475 for
Derivative Financial Instruments 4,343 e Fibra Consolidated. The amount of tax credits over social contribution regarding Provisional
Other liabilities 1,059 104 Measure 2158-35 of August 24, 2001, amounts to R$ 4,765 for Fibra Consolidated.

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries Banco Fibra S.A. and Banco Fibra S.A.,and its subsidiaries ©

Notes to the financial statements Notes to the financial statements









(In thousands of Reais) (In thousands of Reais)
i i i i b Fibra Consolidated
13. Demand deposits, Time deposits (CDB/CD/RDB) and Interbank deposits Bance Fibra —_—___fitsn coon
(CDI) : ; : Balances at ‘ Incorporations Balances at Balances at Incorporations Balances at
Tax credits : 12/31/03 (Write-offs) 12/31/04 12/31/03 (Write-offs) 12/31/04
Funds by maturity dates Total tax credits from temporary
differences 12.647 (1.135) AL512 14,560 (2.104) 12.456
Fib: Fi lidated
a Banco Fibra bra Consolidate Allowance ‘ur loan losses 8,414 (1,121) 7,293 9,903 (2,057) 7,846
Demsnd sod Labor suits 856 (59) 797 856 (59) 197
other Time Interbank Total Demand Time Interbank Total Mark-to-market adjustments 3,305 (35) 3,270 3,729 (68) 3,661
deposit deposit deposit deposits deposit deposit deposit deposits Allowance for valuation of other 5 8 . a
Up to 30 days 34,457 229,582 72,653 «336,692 21,112 229,582 69,374 «320,068 ita Ssiicpailie ut 80 !
* - - 117,790 ‘ax loss and n iv sis for
sien ai : a .. : yen 7 a Ce - 63,454 social contribution 62,162 (14,564) 47,598 62,162 (14,295) 47,867
1 * 7 a 2 Social contribution - Provisional i
From 91 to 180 days - 369,183 264 369,447 - 369,183 : 369,183 x 15,504
From 181 to 360 days - 126,306 521,818 648,124 - 126,306 : 126,306 Measure 2158-35 of 24/08/2001 3,974 411,530 15,304 3.974 11.530
More thea 200 devs (2) eka 16408 7 46.473 - 46.473 ae 46.473 Total tax credits 78,783 (4,169) 74,614 80,696 (4,869) 75,827
Total 2004 34457 952.788 = 594,735 1,581,980 21112 952,788 69,374 1,043,274 Deferred tax liabilities (11,124) 9,787 (1339) (16.246) 10.212 (6.034)
Total 2003 26.684 856.111 255.721 1,638,516 26,388 = RSH LOO .914,409 Net idx credita 67,659 5,616 73,275 64,450 5,343 69,793
% of tax credits over (75% 15.58% 16.4%
3i H ‘ q : ‘ i Shareholders equity 16.3% 2% 5% .
(i) Time deposits maturing from 361 to 720 days, in the amount of R$ 40,955 in Banco Fibra and Fibra apai tas adic oics Assets risk ine 11% 11%

Consolidated, and maturing.in over 720 days in the amount of R$ 5,518 in Banco Fibra and Fibra Consolidated,

bear interest ranging from 18.4% p.a. to 31.5% p.a. Interbank Deposits in Banco Fibra. ; . ; :
. 7 u The expectation of realization of tax credits from temporary differences and tax loss carry

@) Other deposits refers to:invesinedt dopant and amount te: R379 forwards per year, and the respective present values, calculated according to average funding
rates, net of tax effects is as follows:
” Borrowings : Banco Fibra S.A.:
2005 2006 2007 2008 ~- 2009 Total
At December 31, 2004, foreign borrowing were represented by foreign currency funds raised from
banks, amounting to R$276,331 in.Banco Fibra and Fibra Consolidated (R$183,736 in 2003) Nominal value 18,949 16,586 18,385 16,148 4,546 74,614
bearing interest ranging from LIBOR plus 1.15% per year to prefixed rates of 5.7% per year. Present value 17,830 14,048 14,140 11,311 2,904 60,233

Distribution in terms of maturity

0t030 §=631 to 60 611090 = 91 to 180 181 to Up to
days days days days 360days 360days Total 2004 Total 2003
Banco Fibra and
Fibra Consolidated 12,658 7,065 97,469 122,859 8,532 32,748 276331 183,736

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries Notes to the financial statements
(In thousands of Reais)

Notes to the financial statements

(In thousands of Reais)













Fibra Consolidated :
2005 2006 2007 2008 2009

Total
Nominal value 19,528 17,065 18,417 16,188 4,549 75,827
Present value 18,214 = 14,292 14,166 ~—11,342 2,907 60,921

Income tax and social contribution were calculated as described in Note 4j.
‘The calculation of income tax and social contribution of Banco Fibra S.A. is as follows:

; 2004 2003
Income before income taxes and participation of

minority interests 60,126 138,141

(78.200)
59,941

Payment of interest on equity

Income before income and social coutribution taxes 60,126

Income (25%) and social contribution (9%) taxes (20,419) (20,380)


























Additions and deductions in the calculation of taxes:

Investments in subsidiaries 59,785 51,702
Distribution of profits of subsidiaries abroad (79,929) (77,564)
Reversal of social conmibution MP 2158-35 11,530 -
Realization of tax credits 9,785 16,377
Net nondeductible expenses of nontaxable income 585 ( 449)
Interest on equity received - 255
Others (1,248) (1351)

lacome tax and social contribution for the year (19,91) (3.410)

RBanco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

Notes to the financial statements

(In thousands of Reais)
19 Capital
Capital is comprised of 1,035,887,231 registered common shares, with no par value, paying a
minimum distribution of dividends of 25% of net income for the year, adjusted according to
prevailing legislation. The distribution of dividends is subject to approval by management at the
Annual General Shareholders’ Meeting, which can decide on the total or partial retention of net

income.

On February 12, 2004, the Brazilian Central Bank homologated the capital increase occurred on
December 30, 2003 in the amount. of R$ 66,470.

On April 29, 2004 and November 10, 2004, the General Shareholders’ Meeting decided on the
payment of dividends in the amount R$ 20,000 and R$ 7,000, respectively.
Related-party transactions

As of December 31, 2004 and 2003, the principal balances for related-party wansactions were as
follows:

Assets (liabilities) Income (expenses)
2004 2003 2004 2003

Securities and Derivative Financial

Instruments 643,302 724,818 184,316 275,846
Other Receivables 54 2,215 ~ 1,044 1,261
Deposits (525,381). (723,996) (74,627) (151,438)
Open Market Opezstions (23,926) - (102)

















Derivative Financial Instruments (48,653) (709)

(2,174) (151)

Related party transactions were performed under normal market terms and conditions and were
eliminated on the consolidation of the financial statements.

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

Notes to the financial statements

(In thousands of Reais)

Management of funds
Fibra Consolidated is responsible for the management of several investment funds and

investment portfolios. The net equity at December 31, 2004, amounted to R$ R$ 3,950,014 (RF
2,049,734 in 2003).

Other information

Basel agreement

The financial institutions should maintain shareholders’ equity compatible with the risk level of
the structure of their assets, weighted by factors ihat range from 0 to 300%, in accordance with
BACEN Resolution 2099/94 and later, regulations. .The shareholders’ equity required at

December 31, 2003, in conformity with the prevailing rules’ corresponded to 22.3% (21:6 "in|
2003) of the total weighted assets, whereas currently, the minimum required limit is 11%.

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SEVERAL TO SILT 4 COIFOEES IE NL ROTTER LATEST

THE TRIBUNE

ve APRIL 18, 2005, PAGE 13B

P= Se



Wall Street plummets

over economic fears

@ By MICHAEL J.
MARTINEZ
AP Business Writer

NEW YORK (AP) — Wall
Street suffered its worst single day
in nearly two years Friday, with
the Dow Jones industrial average
falling 191 points for its third
straight triple-digit loss. Deepening
concerns over economic growth
and higher prices led to the worst
week of trading since August.

An already uneasy market
began the biggest one-day selloff
since May 19, 2003, after the Fed-
eral Reserve reported drops in
manufacturing and other industri-
al production, and a Labor Depart-
ment report showed higher oil
costs driving up import prices.

The selloff was bolstered by low-
er-than-expected profits from IBM
Corp., which led to fears that tech-
nology spending would be sub-
stantially worse than expected this
year. Strong earnings from Gen-
eral Electric Co. and Citigroup Inc.
were overlooked, but analysts said
earnings would nonetheless be a
key factor in overcoming the
recent slump.

Inflation

“Earnings are really the only
hope for this market,” said Brian
Pears, head equity trader at Vic-
tory Capital Management in
Cleveland. “If, on the whole, earn-
ings can go up, then we might be

able to overcome oil and inflation

and all the other things.”
According to preliminary calcu-

‘lations, the Dow fell 191.24; or 1.86

percent, to 10,087.51, after falling
125 points Thursday and 104 points
Wednesday. It was the Dow’s low-
est close since Nov. 2.

Broader stock indicators also
lost considerable ground. The Nas-
daq composite index dropped
38.56, or 1.98 percent, to 1,908.15
for its worst showing since Oct. 25.

The Standard & Poor’s 500
index was down 19.43, or 1.67 per-
cent, at 1,142.62, its lowest level
since Nov. 3.

All three indexes set five-month
lows for the second straight ses-
sion, prompted by disappointing

earnings in the tech sector and
questions about slowing economic
growth. With Friday’s losses, it was
the first time the Dow lost 100
points three sessions in a row since
late January 2003.

For the week, the Dow lost 3.57
percent, the S&P 500 was down
3.27 percent, and the Nasdaq tum-
bled 4.56 percent. The major
indexes are also at their lowest
points of 2005, with the Nasdaq
down 12.29 percent, the Dow
falling 6.45 percent and the S&P
having lost 5.72 percent.

Bond investors were pleased
with Friday’s results, however, as
the bond market continued to ral-
ly. The yield on the 10-year Trea-
sury note fell to 4.24 percent from
4.34 percent late Thursday. The
dollar was mixed against other
major currencies, while gold prices
moved higher.

Crude oil prices were lower and
continued a two-week downtrend,
with a barrel of light crude settling
at $50.49, down 64 cents, on the
New York Mercantile Exchange.

The recent drop in crude futures
notwithstanding, higher oil prices
are to blame for the jump in import
prices, the Labor Department said.
Import costs rose 1.8 percent in
March, but even without oil, prices
rose 0.3 percent, more than the 0.2
percent rise economists had
expected.

“There’s a lot of evidence that
when we have oil averaging $53
or $54 per barrel, that’s inflation-
ary, and we got a whiff of that
today in the import prices,” said
Peter Cardillo, chief strategist and
senior vice president with S.W.
Bach & Co. “It doesn’t help that
we're starting to see the economy
enter a slowing mode heading into
the second quarter here.”

Investors looking at the Fed’s
industrial output report also ques-
tioned whether higher energy and
materials costs were affecting man-
ufacturing growth as well. Overall
industrial production rose 0.3 per-
cent in March, up from 0.2 per-
cent in February, but the increase
came only from utility production
due to a colder-than-average
month, and manufacturing and
other industrial sectors showed

losses for the first time in six

Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No 45 of 2000)

KAKA INVESTMENTS LIMITED

InVoluntary Liquidation

Notice is hereby given that in accordance with Section 137 (4)

of the International Business Companies Act No. 45 of 2000,
KAKA INVESTMENTS LIMITED. is in Dissolution.

The date of cominencement of dissolution is 11th day of March,

2005.

Pamela Hamer,
For & On Behalf of
C.C.S. Directors Limited,
of Akara Building, Suite 8,
Wickhams Cay 1,
Road Town, Tortola, BVI
Liquidator



months.

IBM said an inability to close
deals before the end of the quarter,
combined with higher pension
costs, dragged on its earnings. The
technology company, which missed
Wall Street forecasts by. 6 cents
per share, hinted at a major
restructuring this year. IBM tum-
bled $6.94, or 8.3 percent to $76.60,
and was the biggest loser on the
Dow.

General Electric rose 25 cents
to $35.75 after the industrial and
media conglomerate reported a 25
percent jump in first-quarter prof-
its, with nine of the company’s 11
disparate divisions reporting dou-
ble-digit growth. The company’s
forecasts for the second quarter |
and full year were in line with Wall
Street’s estimates.

Citigroup beat Wall Street’s
expectations for its quarterly prof-
its by 2 cents per share, with prof-
its rising a modest 3 percent year-
over-year. The financial company
also said its board had authorized
the repurchase of an additional $15
billion in stock. Citigroup added
35 cents to $45.75.

Drug

The lagging pharmaceutical sec-
tor'saw new life after Genentech
Inc. reported strong results from
trials of its Avastin drug in breast
cancer patients, and Ely Lilly &
Co. received a favorable patent
tuling on its best-selling anti-psy-
chotic drug Zyprexa. Genentech
surged $10.72, or 18.3 percent, to
$69.35, while Lilly climbed $2.91 .
to $58.07.

Declining issues outnumbered
advancers by more than 4 to 1 on
the New York Stock Exchange,
where preliminary consolidated

_ volume came to 2.71 billion shares,

compared with 2.38 billion on
Thursday.

The Russell 2000 index of small-
er companies was down 11.16, or
1.89 percent, at 580.78. The Russell
lost 4.91 percent this week and is
down 10.86 percent for the year.

Thursday’s losses in U.S. mar-
kets had a ripple effect overseas, as
the Nikkei stock average fell 1.66
percent. In Europe, Britain’s FISE
100 closed down 1.09 percent,
France’s CAC-40 lost 1.92 percent
for the ‘session, and.Germany’s
DAX index tumbled 2.04 percent.



The Dow Jones industrials end-
ed the week down 373.83, or 3.57
percent, finishing at 10,087.51. The
S&P 500 index lost 38.58, or 3.27
percent, to close at 1,142.62.

The Nasdaq fell 91.20, or 4.56
percent, during the week, closing
Friday at 1,908.15.

The Russell 2000 index, which
tracks smaller company stocks,
closed the week 29.97, or 4.91 per-
cent, lower at 580.78.

The Dow Jones Wilshire 5000
Composite Index — a free-float
weighted index that measures 5,000
U.S. based companies — ended
the week at 11,246.79, off 387.80
points from last week. A year ago
the index was at 11,078.10.

The Wilshire 5000 dropped
446.24 points, or 3.82 percent, in
the past three sessions, the largest
percentage drop since Nov. 11,
2002, when the total-market index
fell 5.1 percent.

SCHOLARSHIP FOR MARITIME STUDIES

The Bahamas Maritime Authority and the Bahamas Shipowners
Association are both offering attractive scholarships to young.
academically sound Bahamians who are keen to train for an exciting
and challenging career in the Shipping Industry which is gaining
increasing national importance.

The scholarship is inclusive of tuition, fees, course material,
accommodation and transportation cost. Commencing i in September
2005, successful candidates will follow a four (4) year degree
programme at the California Maritime Academy in the United States.
Upon completion of the degree, the qualified officers will be expected
to serve on board a Bahamian flagged vessel for at least 2 years.

Applicants should possess or expect to attain a minimum of five (5)
BGCSE passes, including Maths, Physics/ Combined Science and
English Language, at grade ‘C’ or above and a minimum combined
SAT score of 1000. All applicants must be physically fit and possess
good vision.

Further information and application forms can be obtained from Mrs.
Erma Rahming Mackey, Assistant Director, Bahamas Maritime

Authority,. P.O.Box N-4679,

Nassau, Bahamas,

email:

emackey @bahamasmaritime.com, tel: 394-3024, fax: 394-3014.
Completed applications must be submitted in person or by post, with
copies of academic certificates and proof of Bahamian citizenship,
no later than Monday, 2 May 2005. Interviews will take place in

Nassau in June.





PAGE 14B, MONDAY, APRIL 18, 2005 TRIBUNE SPORTS



Â¥



Tare









IIR Irae ;
TINTS a W a S pu Lond te ant :
Ts agi :
Hi By BRENT STUBBS ms
Senior Sports ‘s
Reporter =
THE defending champi- S
| ove Electro: Feleenina vila: @ By BRENT STUBBS behind the undefeated defend- He connected on a two-run Thompson, as he waited patient- Thompson stressed. oe
ateataln: aniission this Senior Sports Reporter == ing champions TBS Truckersin homer to highlight a four-run _ly to hit the ball against Mighty The Arawaks now look ahead

first inning and he duplicated the
feat in the fifth as the game was
eventually stopped via the ten-
run rule.

Mitts’ losing pitcher Alphonso
‘Chicken' Albury. "The first one,
I didn't realise that it was gone
until it hit the fence. But the sec-
ond one, I knew it was gone."

to a bigger challenge on Thurs-
- day night when they will play the-.
electro Telecom Dorcy Park”:
Boyz, who are expected to show-
case the brothers pitching and=:

the men's standings in the New
Providence Softball Association.
The Mighty Mitts continued to
struggle at the other end of the
standings with their second

year and there seems to be
no team that can stop them.

On Saturday night at the
Churchill Tener Knowles

CHAVEZ Thompson had
two hits - both two-run homers -
to help the Delsol Arawaks blast
the Pot Pourri Mighty Mitts 14-4



| National Softball Stadium, | _ in five innings on Saturday night straight loss to the league's top Pati Thompson said the Mighty catching tandem of Edney ‘the
the Wildcats passed anoth- at the Churchill Tener Knowles _ two teams. atiently Mitts made them play. Heat' Bethel and Edmund
er hurdle in the battle of the | National Softball Stadium. Thompson had a rare offen- "The pitcher put it right there. "They brought the competi- _'Binks' Bethel.

New Providence Softball
Association ladies' unde-

tion to us in the first two innings,
so we stepped up our play,"

"Delsol faced Edney before in’

With the victory, last year's
Grand Bahama when he beat us:

runners-up stayed a half game

sive night, going 2-for-2 with five

E There was no way I was going
runs batted in and scoring twice.

to pass up a fast ball," said





feated teams with a 13-6 tri-
umph over the Randella's
Swingers.

With the win, the Wild-
cats remained on top of the
standings at 4-0, while the
Swingers dropped to 3-1 for
second.

"It feels good to be 4-0
because last year we started
off slow, but this year we
have a good start," said
Jack Davis, of the coaches
for the Wildcats. "But I'm
still not pleased with our
performance. We played
around a bit, but as the sea-
son progresses, we will play
much better.”

Contest

The Wildcats seemed to
be all business in the first
three innings as they bolted
out to a comfortable 9-2
lead and were heading for
an early night. But they
squandered four runs in the
fifth as the Swingers made it
a contest down the stretch.

However, Mary 'Cruise'
Edgecombe bowed down in
the final two innings and
held Randella's bats at bay
to keep their perfect season
intact.

Edgecombe went the dis-
tance throwing a five-hitter,

- striking out four for the win.



Desiree Taylor surrendered
10 hits and struck out three
for the loss. -_

The Swingers broke the
ice, coming up with the
game's initial run in the bot-
tom of the first on centre
fielder Neressa Seymour's
run-producing single that
plated second sacker
Rebecca Moss.

But the
responded with three runs
on a pair of hits in the top
of the second, highlighted
by a two-out, two-run single
from right fielder Jackie 'Lil
Stunt' Moxey.

Electro Telecom put the
game out of reach in the
third when they produced
another six runs for a com-
manding 9-1 lead. As they
batted around the clock,
Edgecombe helped her own
cause with a RBI single and
shortstop Melinda Bastian
produced a three-run in-
the-park home run, fol-
lowed by Shera Woodside's
RBI single.

Solo

Randella's came up with
another run in the bottom
of the frame as catcher
Dorothy 'Dot' Marshall
showed that she had some
speed too as she came
through with a two-out solo
in-the-parker to cut the
deficit to 9-2.

In the fourth, the Wild-
cats put another run on the
board, thanks to an error
that put catcher Dornette
Edwards on base, scoring
second sacker Hyacinth
Farrington, who had led off
the inning with a walk.

Then in the fifth, the
Wildcats got two unearned
runs from first sacker
Renee ‘Sunshine' Curry,
who led off with a double
and Jackie Moxey, who fol-
lowed with a fielder's
choice. But they didn't pro-
duce sufficient runs to stop
the game.

And the Swingers made
sure that they would end up
playing seven full innings
when they responded with
four runs on a pair of hits in
the bottom of the frame.

First sacker Debbie
Forbes came up with a one-
out two-run producing sin-
gle and she caught a ride
home on left fielder There-
sa Miller's two-run in-the-
parker to make it a contest
for the fans who stayed
behind.

Wildcats.

@ TRACK

BAAA'S NATIONALS

THE Bahamas Association of Athletic
Associations completed its National High
School Track and Field Nationals on Sat-
urday at the Grand Bahama Sports Com-
plex. The three-day meet turned out to be
a competitive one.

As usual, there were no divisional win-
ners decided, but three unofficial records
were broken during the competition.

© However, here are how the divisions
were decided:

Girls under-15

Catholic High 92; Queen's College 81;
CH Reeves 74; HO Nash 59.

Girls under-17 —

Sunland Lutheran 122 1/2; CR Walker
119; Catholic High 105; CI Gibson 73 1/2.

Girls under-20

CR Walker 146 1/2; CC Sweeting 105
1/2; Catholic High 94; St. George's 78.

Under-15 boys

CH Reeves 129; Sir Jack Haywood 70;
Tabernacle Baptist 52; Queen's College
44.

Under-17 boys

CC Sweeting 75; CR Walker 74; St.
George's 70; Sunland Lutheran 65.

Under-20 boys

CR Walker 138; Eight Mile Rock 97;
CC Sweeting 85; CI Gibson.

# BASKETBALL

NPBA PLAYOFFS

The New Providence Basketball Asso-
ciation, who will have to seek a new pres-




i LEEVAN SANDS popped a
winning leap of 25-feet, 9 1/2-inch-
es for his victory in the long jump.

(FILE Photo: Felipé Major/
Tribune staff)

SOM Meo



ident at the.end of the month, continued
its playoff action on Saturday night at the
CI Gibson Gym. The league had to move

‘from the AF Adderley Gym.
In the division II opener, the Sunshine.

Auto Ruff Ryders knocked off the Rock-
ets 76-71 to pull off a two-game sweep in
their best-of-three series. In the division
one feature contest the Commonwealth
Bank Giants swept the Sunshine Auto
Ruff Ryders ina 89-81 decision.

Action will continue tonight at 7:30
when the action returns to the AF Adder-
ley Gym.

@ BSC CHAMPIONSHIPS .

The Baptist Sports Council will begin its
2005 best-of-three basketball champi-
onship on Tuesday night at the Baillou
Hills Sporting Complex with Mount
Tabor taking on Evangelistic Centre in
the men's division. |

Game two will be played on Thursday
immediately after game one of the 19-
and-under championship between defend-
ing champions First Baptist and Mace-
donia.

On. Saturday at the same venue, First
Baptist and Macedonia will play.in the
15-and-under championship and defend-
ing ladies' champions Macedonia will play
Golden Gates.





@ SOFTBALL

NPSA SCHEDULE |

The New Providence Softball Associa-
tion has released its schedule of games
for this week at the Churchill Tener ©
Knowles National Softball Stadium.

Tuesday

7 pm. Whirlpool vs Proper Care Pool
Lady Sharks (L)

8:30 pm TBS Truckers vs New Breed
(M).

Thursday
( in Nassau Cruisers vs Mighty Mitts

M

8:30 pm Blecto Telecom Dorcy Park
Boyz vs Delsol Arawaks (M).

Saturday

7 pm New Breed vs Electro Telecom
Dorcy Park Boys (M). :

8:30 pm Proper Care Pool Lady Sharks
vs Degeo Bommers (L).

& SOFTBALL CLINIC

The New Providence Softball Associa-
tion is inviting all of its umpires, man-
agers, coaches and players to attend a
clinic tonight at 7:30 at the Churchill Ten-
er Knowles National Softball Stadium.
The clinic is expected to be conducted by
International Softball Federation's Hall of
Famer: Arthur Thompson on the rule

changes.



mark of 5.65.

24.46.

31st in 25.90.

1:01.18.

FIU,

50.29.

ninth place.

of Florida.

FROM page one

winning time was 24.27 by Stephanie Gebhart: f
from South Dakota.

However, Newbold was ninth eversllt in the
women’s 100 i in 12.41. She didn’t advance to the
final. The eighth and final qualifier ran 12.39.

@ ARNETT-WILLIE

TOPPED BAHAMIAN FIELD

At the Gatorade Invitational at the University
of Miami, Phyllipa Arnett-Willie produced 11.79:
for fifth in the women’s 100 that was won by
Sheri-Ann Brooke of FIU in 11.24.

Tamara Rigby, competing for Florida Memor- }
ial, was eighth in 11.86 with Lisa Mortimer com-
ing in 16th in 12.25.

In the 200, won by American Olympic silver
medalist Lauryn Williams in 22.53, Armett-Willie.
came in seventh in 23.95. i

- Rigby was ninth in 24.15, while her team-mate '
Angeline Villarceau was 25th in 25.54. Mortimer
was 29th in 25.84 and Cache Armbrister came in

Oneil Williams was the lone Bahamian repre-
sentative in the men’s 800, running 1:56.69 for

in the Nationals," said Thompson‘:
of their trip to the Bahamas Soft-
ball Federation's National Cham-:.:
pionships when they won the:
NPSA crown two years ago.
"Although he won the game,
he realised that Delsol are a good:
hitting team. So we're ready for:
him this time." re

Runs eS

Delsol, no doubt, were readyi=:
for the Mighty Mitts as well, scor-«:
ing four runs in the first, three”:
in the second and third and:
another four in the fifth.

In addition to Thompson, the«:
Arawaks got a 3-for-4 night with®.
two RBIs and three runs from“
Thompson's younger brother;+;
Michael. Julian Collie also home:
red with a solo shot to lead off a:
three-run second and he finished:
with a 1-for-2 night with three:
runs scored. Angelo Dillet
helped out with a 2-for-3 perfo
mance with an RBI and thre
runs.

Andre 'Star' Wood Sr stoo :
out for the Mighty Mitts with a
perfect 2-for-2 production, scor-i
ing a run.

Cardinal Gilbert picked up the*
win on the mound with a six-hit-_
ter, walking four and striking out~"
as many batters. He also give us
just two earned runs. Alphonso
Albury, on the other hand, was
tagged for 11 hits with six walks’
and 10 earned runs.





















id
%.
vr



a

Mi MARTIN SECOND sires oes
At the 9th annual Tom Botts Invitational ats
the Audrey J. Walton Stadium in Colombus Mousouri, Donnavette Martin produced a sec,
ond place finish in the women’s long jump with at
leap of 5.62 metres. Tracy Partain won with. ad

os

Martin also took to the track, running ninth |
place in the women’s 100 in 12.40. Genna ‘Williams
won the race in 11.71. Martin was also sixth in the
200 in 26.87. The event was won by ee Many in

j
4
i
4
{
4
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4
}
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t

f
4
In the 400, which was won by Charlette
Greggs from Miami in 52.71, Villarceau was |
15th in 59.73 and Armbrister came in teens in’

The Rigby twin sisters - Tamara (on lead off), :
Tavara (on second) - and Villarceau (on anchor)
teamed up with Zindzi Swan for eighth in the 4x
100 relay in 48.17 for Florida Memorial.

The Rigby sisters - Tavara (on lead off) and {
Tamara (second) - teamed up with Villarceau
(anchor) and Octavier Spencer for fourth as well |
in the 4 x 400 relay i in 3:58.40.

In the men’s 100, Dereck Carey was 13th in
10.84 and Tyrone Sawyer got 21st in 11.06. The
winning time was 10.19 by Kevon Puerre from

The men’s 400, won by Bernard Middleton of:
Florida in 46.56, saw Tim Munnings clocked 47.80 *
for seventh. Von Wilson was eighth in 48.10; Carl
Rolle 10th in 48.67 and Darron Lightbourn 14th in

The winning time was 1:49.41 by Moise
Joseph. Ednol Rolle also competed, finishing sev-
enth in the men’s 400 hurdles in 53.35. os





TRIBUNE SPORTS . . MONDAY, APRIL 18, 2005, PAGE 15B

SPORTS





ae
>» ©) 2”
Rivals set to contest FA Cap Final







-— “Copyrighted Material 4

<7





Nadal beats det ding champion —
to take Me wie Cour Upen tithe

-——- - -- —-_ or - =< —_ =
lr ae ow -— os | —_—_— => — — > — —ii
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MONDAY, APRIL 18, 2005

SECTION

Fax: (242) 328-2398

E-Mail: sports@100jamz.com



ers



ATs

All the

weekend

softball action
DS def (6 [eed =!





Bahamian
athletes

— get off
Or mi\an

@ By BRENT STUBBS
Senior Sports
Reporter




IT WAS a good season
opener in their specialities
for sprinter Dominic
Demeritte and long
jumper Leevan ‘Super-
man’ Sands at the 26th Sun
Angel Classic.

Competing unattached
at the Joe Selleh Track in
Tempe, Arizona,
Demeritte won the 200
metres in a time of 20.69
seconds.

It was the same time
posted by Kelvin Love of
Arizona State, but
Demeritte was able to nip
him out in the photo fin-
ish.

Everette Fraser compet-

ing unattached, was 11th
in 21.67. Fraser was also
fifth in the 100 in 10.60.
_ Sands popped a winning
leap of 25-feet, 9 1/2-inch-
es for his victory in the
long jump. Trevell Quin-
ley of Arizona State was
second with 25-5 1/2.

Sands did 25-7 1/4 for
the leading mark in the
qualifying round. He was
followed by Quinley with
25-5 1/2.

Meanwhile, a host of
other Bahamians compet-
ed in a series of meets
across the United States
over the weekend. Here’s
a look at where and how
some. of them competed:

@ IFILL QUALIFIES
FOR REGIONAL
Sophomore Grafton Ifill

II won both the men’s 100

and 200 for the University

of Pennsylvania and also
competed on their second-
place 4 x 100 relay team at
the William Weaver Stadi-
um.

Ifill II ran the fastest

time by a Quaker since

1984 when he clocked

10.42 in the 100, qualifying

for the NCAA Regionals

in the event. His time was
the fourth fastest in Penn
history. He also won the

200 in 21.31 for the seventh

fastest in the University of

Pennsylvania history.
And Ifill TI helped his 4 x

1 relay team, running the

second leg, as they finished

second in 42.03.

@ AMERTIL SECOND
_ At the Sea Ray Relays,
Christine Amertil ran 23.00
for second overall behind
Shalonda Solomon in the
women’s 200 invitational.
Amertil won the second of
three heats in the event.







































































& NEWBOLD THIRD

At the Godfather’s D II
Challenge at the Emporia
State University, Shantel
Newbold, competing for
Central Mississippi, came
in third in the final of the
women’s 200 in 25.07. The

SEE page 14B









@ By BRENT STUBBS —
Senior Sports Reporter

CLOSE buddies Don Boor-
man and Mike Toporowski
will go down in the history

books of the Bahamas Golf

Federation as the first winners
of the Ken Francis Golf Clas-
Sic. fh

The duo, who have played
together for more than a
decade, pulled off the fi
with a combined score of:60.20
to win the title on Sunday at







Golf Club.
“It’s fantastic,” said B
man,

Hill Nursery on Bernard

Road. “Mike drove the ball
extremely well and my ‘short
game was good as it could be
and we were able to get the
ball in the hole.”

Their performances left the
team of Daryl Merchant and

# MIKE TOPOROWSKI (left) and Don Boorman in action - (Photos: Felipé Major/Tribune staff)

Jack O’Conner behind in sec-
ond place at 60.95. George
Swann and Andrew Jackson
had to settle for third with
61.15.

The team of Fred Wright
and Milford ‘Shaggy’ Lock-
hart, however, picked up the
victory in the gross category
with a 61.90.

Toporowski, the owner of
Re/Max Nassau Reality, cred-
ited their success to the
way the course was so well
kept.

Superb

“The condition of this
course was just great. They
did a superb job,” Toporows-
ki noted. }

The duo took advantage of

the course’s manicure by
birdying the first four holes.
They capped off the perfor-
mance by hitting all of the par-

five holes coming into the
clubhouse.

“Golf is where you take it,”
Toporowsko insisted. “We
played the course as well as
we could.”

Toporowski, a former
national team player, said they
will dedicate their perfor-
mances to the junior develop-
ment programme and he
called for more support for
the younger players.

They also both indicated
that they were thrilled to be
the first champions of the
tournament that honoured
Francis, a man whom
Toporowski felt did a good
job in promoting the sport
when he served as editor of
the Nassau Guardian.

About 108 golfers partici-
pated in the tournament,
which tournament director
Wayde Bethel stated, will

become an annual event on>

the BGF’s calendar.

“It went very well. It was
almost challenging for us
because after we didn’t get to
host it last year because of the
hurricanes — we had more
people than we anticipated
coming out this year,” Bethel
stressed.

Appreciation

“Persons were very eager to
show their appreciation to Mr
Francis. We had some very
good scores and the weather
was just perfect for the hosting
of the tournament.”

Bethel teamed up with Ken
Brathwaite, but they didn’t
fare as well with a gross of 69.
Bethel said they didn’t play as
well as expected because he
was busy running the tourna-
ment.

Richard Gibson, the resi-
dent pro and assistant golf



-director at the Radisson Cable
Beach Golf Club, said the
tournament was a good show -
of appreciation for Francis.
“I didn’t expect the large
amount of turnout that we got.
Everybody turned out to sup-
port him,” Gibson stated. “It
was a good tournament.”

B OTHER prizes
offered were:

Men’s division: Eddie
Carter - longest drive on hole
eight and Ian Bayles - near-
est to the pin on hole nine.

Ladies’ division: Giselle
Pyfrom - longest drive‘on hole
#13 and nearest to the pin.

Junior girls: Eugenia
Adderley - longest drive,

Junior boys: Richard Gib-
son Jr - longest drive on hole
#7 and Ben Davis - nearest to
the pin on hole #12.



MONDAY, APRIL 18, 2005



PEOPLE

The recently announced billion dollar
Baha Mar Cable Beach deal is the
“wrong deal” for the country and has
come “at the wrong time”, FNM chair-
man Carl Bethel claimed last week. At
a meeting of the Golden Gatés con-
stituency association of the Free Nation-
al Movement, Mr Bethel said that while
there is tremendous opportunity for a
realistic, practical and well thought out
investment in Cable Beach, the project.
agreed to by the government does not

The jitney driver who allegedly attempted to assault a
15-year-old passenger on Saturday was released on
$5,000 bail and has had his public driver’s licence sus-
pended after appearing in magistrate’s court last Mon-
day. Andrew Johnson appeared before Magistrate Mar- '
ilyn Meeres and was charged with one count of indecent
assault. It is alleged that Johnson inappropriately touched
the young girl while she was a passenger on his bus on
Saturday, April 9, forcing her to jump out of the moving
-vehicle and run to safety. As a result, she received mul-
tiple injuries to her stomach and arms. Johnson pleaded
not guilty to the hares oe was granted $5,000 bail

MPs last week dealt with a res-
olution in the House of Assembly
which would allow the. govern-
ment to borrow almost $17 mil-
lion to replace funds used for
repairs following hurricanes tt
Frances and Jeanne.

The funds would be loaned by
the Inter-American Develop-
ment Bank and would be
returned to the public treasury
Mr Christie explained ...

accomplish this ...







effery COOPER is a driven,
determined and - his admirers
believe - genuinely commit-
ted man. His cause is simple:
to clear Abaco of a Haitian
presence which, he says, threatens to
destroy it.
~'Thirty-two years ago, Abaco was the

- Centre of a secessionist movement intent
on‘ retaining the island’s British colo-
nial status in the face of Bahamian inde-
pendence. Today, says Mr Cooper, it
isin danger of becoming a colony of
Haiti, the most destitute, chaotic nation
in the western world.

“Uncontrolled immigration has, he
says, left Abaco in a desperately vul-
nérable state, with the prospect of
wholesale “creolisation” not only a. pos-
sibility, but a. near certainty over the
next feW years.

If Mr Cooper’s assessment of the
island’s plight is anywhere near the
truth, the situation is dire indeed, with
Haitians already outnumbering Bahami-
ans in the schools and local culture in
real jeopardy from alien invaders from
the south.

_Mr Cooper stresses from the outset
that he has no hostility to Haitians as
people, and no wish to appear inhu-

‘mane. He is not, he says, a race cam-
paigner with hate in his heart, but a
concerned Bahamian who believes
Haiti’s diaspora will ultimately under-
mine Abaco as a Bahamian society to
‘the point of extinction.

“T am doing this for my children,” he
told INSIGHT as he outlined what he
sees as the horrendous scenario taking
shape around him.
| Mr Cooper, a middle- -aged photog-

; rapher and entrepreneur who lives at
Cooper’s Town, says Haitians are now
so well-established and rooted in Aba-
co that removing them completely will
be nigh impossible: But he says urgent
government action is crucial if the situ-
ation is to be contained.

; The problem, in his view, is that
Haitians have become so confident of
their position on the island, so assured
of their role at the bottom end of the
Abaconian economy, that they are defy-
ing Bahamian laws to establish them-
selves ultimately-as the dominant force.
| It would’be easy to dismiss him as an
irrational alarmist if the evidence for
4t least some of his claims were not so

compelling.

At Marsh Harbour, Abaco’s “capi-
tal”, the existence of the two huge slum
settlements, The Mud and Pigeon Pea,
where thousands of Haitian immigrants
live in a festering muddle of down-at-
heel shacks, testifies to the scale of the
problem.

'. Mr Cooper says these two unsightly
settlements, where dangerous power
lines hang like trimmings between
buildings and residents relieve them-
selves in holes in the ground, are mere-
ly-the tips of an enormous problem
which is probably already beyond the



o
2
uw
1x
e
=

he Lone
ow one man seeks to hold back the Haitian hordes

saga to act as “markers” for new



with two sureties .. 1



They call him the “ one-man crusade”, an activist |
with a mission. He is determined to halt the spread .
of Haitians in Abaco, an island which he says is under -
threat from an alien culture. INSIGHT reports...

point of no return.

In the Sandbanks and Farm Road
areas, he says, a new “city” of ram-
shackle huts has appeared, where
Haitians are using old power-lines to.
fence off areas of Crown land as their
own. One woman has already built two

_ homes on land which isn’t hers to rent

out to fellow immigrants. Others are

‘hard at work with hammers and nails to

cobble together more simple wooden
dwellings in which, he says, they will
continue to reproduce at an alarming
rate to the detriment of the Bahamian
communities all around.

“None of these buildings are up to
code,” said Mr Cooper, “Yet if I tried to
build a wash-house in my yard, the
authorities would be down on me in no
time. Nothing is being done to restrict
the spread of immigrants. In ten years
time, Abaco will be called Haiti and
that will be the finish.”

Passionate in pursuit of his cause, Mr
Cooper says Bahamians must act now
or suffer the consequences. The gov-
ernment must display the will and
courage to take the matter in hand, he
believes.

A few weeks ago, the dogged cam-
paigner made headlines when he partly
dismantled a newly-built Haitian shack.
There was no family there to be dis-
placed, so he did what he thought need-
ed to be done as a gesture of Bahamian
defiance.

However, the building is now ; fully
occupied, in spite of having no floor.
A Haitian family has moved in with all
their worldly possessions. Down coun-





ll MAN WITH A MISSION —
_Mr Jeffery Cooper

try byways, deep in the bush, homes
are springing up in substantial numbers,
he claims. Like a cultural tsunami, the
Haitian diaspora appears to be an irre-
sistible force, carrying all before it.

Mr Cooper feels he is probably the

only Bahamian in Abaco willing to step’.

up to the plate in an effort to curb the
creolisation process. But he says if oth-
er Bahamians don’t back him, they:-will
be betraying future generations as the
Haitian tide engulfs the nation.

The problem, as he and other Aba-

conians-see it, is that the Haitian
invaders are not intent on assimilation
and absorption, they are creating a
“sub-economy” and “sub-culture” out-
side the confines of the host sociéty..



@ MOTOR vessels at Marsh Harbour, where they load used cooking | |
oil and other discarded items for the voyage back to Haiti.

ising * marketing

public relations * promotions

placement * web hare
Ai RS

Worse still, islanders claim, many :

Haitians see themselves as being outside
the law. The most graphic illustration of
this is the rampant house-building
process, which appears to take no
account of land ownership or planning
regulations.

Repeatedly, half-hearted efforts have ~

been made to stop the spread of these

_hastily-constructed homes. But the

Haitians, either through sheer cussed-

ness Or pure ignorance, are continuing
to spread. across Abaco, clearing new -
areas of bush to accommodate their

humble homes.
In the:procéss, according to Mr Coop-

er, they are degrading the land, poi- -

soning the water table, and imposing a

’ peasant lifestyle on an island which
'. prides itself on being one of the most

economically and socially advanced i in
the Bahamas.

“They throw diapers and other rub-
bish everywhere,” said Mr Cooper. “It
is sickening what is happening on this
island.”

Now Mr Cooper is to approach Prine

_ Minister Perry Christie and Works Min-

“ister Bradley Roberts in a determined
effort to secure government involve-
ment in his lone mission.

“I am trying to wake up the govern-
ment, and wake.up.the Bahamian peo-
ple,” Mr Cooper told INSIGHT. “The
whole of Abaco appears to support me,

. but I am the only one speaking out. It’s

time:to-act.”

The Ministry of Works has a fesident.
engineer in Abaco, Mr John Schaeffer.

But he is a Canadian who, according

-. to Mr Cooper, is not getting the level of ©
support he needs to halt the house-:

building problem in its tracks. Mr Coop-
er says regular house inspections are
needed, backed up by a genuine will to
dismantle all those homes, deemed to

have been built outside planning laws. | -
“*~Then, He-said, there needs to bea
proper census of the Haitian popula-’

tion on the island. According to him,
they already outnumber Bahamians five
to one, a figure some might find hard to
believe. However, he claims it’s accurate
and he sounds convincing.

Moreover, he says, the situation is
worsening by the week, with illegal
immigrants being landed in remote

-areas during the night. Meanwhile, links

with Haiti are being cemented by crude-
ly-built motorised vessels which, he says,
arrive in Marsh Harbour at regular
intervals to conduct what appears to be
legitimate trade.

He also claims that residents of The
Mud and Pigeon Pea fly kites over the

Siena

NGAI Ie yagle [ton deer
The Arawak Group * Arawak Avenue | * ‘AO. Box $s 5698 8 » Nassau, Bahamas * Felt 242,

sader

arrivals who might have lost their way in
the bush. “They are writing to their
~-families back home and urging them to
come,” he says. “The process is ongoing
. and very alarming.”

. So why are Abaconians apparently
so docile in allowing such an imposi-
tion?

. Firstly, some acknowledge that

‘ ‘Haitians are a crucial part of the flour-
_ishing Abaconian economy. They say

Haitians install themselves at the bot-
tom end of the island pecking order,
doing all the menial jobs Bahamians
refuse to.do. Without them, Abaco’s
progress would. be thwarted.

Secondly, according to Mr Cooper,
many Bahamians are terrified of being
“fixed” by Haitian: witchcraft. Yes, it
sounds crazy, but Mr Cooper insists it is

_ true, and others concur.

“Everyone is scared of obeah,” he
told INSIGHT, “It.seems to me that
Haitians are holding the Bahamas
hostage through obeah. Haitians have
made threats to many people, but Iam
not afraid. I don’t believe in obeah. I
believe in God Almighty.”

He said the threat of witchcraft was
potent on Abaco. “It is idiotic, but that’s
how. many people think. They think
Haitians are dangerous, but my view is
that if these people are dangerous, why
do we allow. them into our country?”

Mr Cooper admits he is seen by some

_-as “a walking star” in Abaco, the hero
of an anti-Haitian offensive, but he

insists none of his actions are inspired
by hostility to Haitians as people. He is

eager to dispel any notion that he is

engaged in a'witch-hunt, whatever his

fears: about the obeah menace.

As father of two young children, he
says he wants to preserve the Bahamas
as a recognisable. cultural entity, not a

colony | of: Haiti, a land whose utter fail-
ure over two centuries of self-rule has
‘condemned it to penury and desolation.

“What. saddens me is that some

_. Bahamians are helping this process by

taking bribes from Haitians, providing
bogus work permits and such like,” he
said.

“These people are willing to sell out
their own country for a bunch of mon-
ey. But.we have to beware. I know there

“are at least two gangs in The Mud and

Pigeon Pea and they have a lot of

- Weapons,

“There are hostile young men in

there and we need to root them and

the weapons out from house to house.
The Haitians are taking over our
schools, our medical system and our
clinics. Some are so serious about taking
over that they are fencing off their own

areas of land. Where will it all end?”

Mr Cooper has been called The Lone
Crusader, but in truth his views are
echoed elsewhere, though less notice-
ably. He voices his views on Radio Aba-

See MISSION, Page 2C

aia i at Slo lkexya tole) efy,
ACA AAR NANO LRT,
hank laps, shorts
Rory eNale LA atl UaIDSe
MBAS -Me Ta RCLonal





PAGE 2C, MONDAY, APRIL 18, 2005

IAE TRIBUNE





INSIGHT

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If so, call us on 322-1986 and share your story.



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ead
ry

our article

about Har-

bour Island

and the vari-

ous problems
encountered by its people was
unfortunately true in many
respects.

For many years now, Har-
bour Island has been tainted
by money, and it has created
divisions between various sec-
tions of the population.

Those who say it’s the
greatest place in the Bahamas
need to reconsider their ver-





Mission (From page 1C)

co and to anyone who will lis-
ten. Others are more circum-
spect.

However, there is plenty of
evidence to show that a Haitian
“sub-economy” is taking root,
with immigrants working togeth-
er to strengthen their hold.

In The Mud and Pigeon Pea,
petty shops, beauty salons and
even a nightclub have been
established. The nightclub has a
cover charge and a menu hang-

ing outside. One house even has —

-a solar panel, showing techno-
logical awareness, while two
churches flourish in glorified
shacks, one with a sagging roof.

Every week, motorised ves-
sels chug into Marsh Harbour
at the end of three-day voyages
from northern Haiti. They go
back loaded with the detritus of
Bahamian prosperity.

For instance, thousands of gal-

lons of used cooking oil, by- -

product of a relatively well-off
society, find their way to Haiti

every year. Stored in plastic jugs, .

old water bottles and anything
else Haitians can lay hands on,
the oil is loaded aboard the beat-
en-up old boats for the journey
home.

In addition to establishing
their own economic and social
bridgehead in Abaco itself, the
Haitians are makingwuse-of

Bahamian hand-downs to’ help: »

relatives keep body and soul
together in the western world’s
most impoverished nation.
“Where they get the oil from,
I don’t know,” said a Marsh
Harbour resident, “I assume
they collect it from restaurants
and maybe local residents, then
stockpile it for the trip to Haiti.
“T suppose when it’s been
used a few times in the
Bahamas, it carries quite a few
extra flavours. And when they
get it back to Haiti, it can maybe
be sold for a few dollars. It may
not appeal to us, but it’s obvi-
ousaly something they value.”
The idea of cooking in some-
one else’s cast-off oil might turn
the stomachs of relatively well-
to-do Bahamians. But beggars
can’t be choosers, and Haiti has
been reduced to beggar status
for longer than it cares to
remember.
- Apart from its renowned fine





dict. Successful, maybe, but
that doesn’t always make for
happiness. I don’t think of Bri-
land as a happy place.

Nassauvian

There used to be an old say-
ing that “where there’s muck
there’s brass” (meaning mon-
ey), but it doesn’t apply to
Harbour Island, where degra-
dation of amenities will lead to
real problems down the road.

The island is booming at the
moment, but it is something

art, its incomparable rum and its
unique status as the world’s first
black republic, Haiti is noted pri-
marily for being dirt poor and
desperate.

Its average per capita income

still hovers around. the $350 ~

mark, which translates into
penury wherever you are, and
life expectancy is depressingly
short. So it’s not surprising that
its people grab whatever they
can from the rich neighbour to
the north.

The immense gulf between

-Haiti’s indigence and the

Bahamas’ life of plenty is best
gauged in a colourful tableau
acted out at Marsh Harbour
dock every week or so.

It is here that rough-hewn ves-
séls pull alongside to discharge
whatever meagre fare they carry
from their homeland and receive
comparatively lavish consumer
cargoes from Abaco for the
return journey.

The line-up of discarded
goods is impressive..The dirty
cooking oil, dull brown and
unappetising by the time it finds
its way into Haitian hands, is
only part of the story.

‘Incredibly

Piled high « on the boats are old

Jhattresses, battered bicycles, an _

‘abundance ‘of plastic bottles of

all kinds; chunks of used lum-' *

ber, an occasional window
frame, obsolete cookers, beat-
up fridges...and, incredibly, even
a derelict car or two.

All are destined for a nation
where consumer luxuries are vir-

tually non-existent among the |

poor, and where the compara-
tive extravagance of Bahamian
life is unimaginable. “It seems
that part of Haiti lives off hand-
downs from Bahamhians,” said
the Marsh Harbour resident,
“What we don’t need, they find
a use for. It’s interesting to see
the variety of stuff that gets
loaded on to these boats.”
Hence, the colonising process
goes on, with The Mud and
Pigeon Pea acting as clearing
houses for the incomers; and
“headquarters” for those already

_ established on the island.

Through their churches, the

Haitians enjoy a spiritual unity. |

Through self-help initiatives,
they find new areas of work to
explore. For instance, they are
now into bottle recycling, col-
lecting vast numbers of beer and
Vitamalt bottles for shipment to
Nassau. :

A few years ago, local coun-
cillor Yvonne Key. began a cam-
paign to clear the settlements,
claiming their existence could
no longer be tolerated in the
main town of an economically
dynamic island.

that can never be taken for.

granted. If the harbour is
being harmed by sewage and
the place loses its quietness
because of over-development,
it’s hard to see why anyone
would want to be there.

In addition to that, there
doesn’t seem to be much har-
mony on the island, where
foreigners and local residents
appear to be at loggerheads
much of the time.













priate, dragging down a proud’





L M Cartwright
Nassau

Ce ee ee

She felt the Haitian lifestyle, a:,
crude exercise in survival at the?
most basic level, was inappro-;'
Bahamian community. :

Mrs Key said the settlements, *
with their festooned power-lines,?
open cesspits and buckled)
shacks, were a typhoid ork
cholera outbreak waiting to hap-?
pen, a throwback to earlier times
when health was under constant!
threat. Two devastating fires:
among the shacks which left

- dozens of families homeless’

helped to focus her message.

There was talk of bulldozers
moving in, settlers being trans-—
ferred to new sub-divisions out
of town, and Marsh Harbour
returning to its old civilised self.
However, her efforts fizzled out
and the immigrants are now seen
as an alien, irritating but
inevitable - and probably eternal -
- presence.

Those Haitians who work!
accumulate US dollars which |
find their way back to Haiti to |
support relatives. The $150 min- ;
imum wage in the Bahamas '
might seem like small potatoes '
to the average Bahamian, but to |
a Haitian used to earning only |
twice that much in a year it is '
bounty beyond belief. i

Unless Haiti itself undergoes a |
sudden and wholly uncharacter- :

‘ stic. transformation. over the |
next few years, it is hard to imag- |

ine that Abaco’s immigrant,
problem will get better. While:
Haiti remains poor and unsta-
ble, the exodus will continue. «
Since the fall of President
Jean-Bertrand Aristide last yeary
‘Haiti has become even more,
unsafe than before. As a result;
desperate people continue tg
seek ways out, with the Bahamas
chain of islands acting as conve}
nient stepping stones to a bet}
ter future.
Most undoubtedly want ta
find refuge in the Haitian ghet?
toes of Miami. But many are
content to settle on the strag
gling isle of Abaco where resis;
tance to their presence is not ag
rigorous as one might expect. *
Mr Cooper hopes to change
all that. For him, the mathemat;
ics are against Abaco when the
Haitian immigration problem i is
considered long-term. Official:
ly, the island has under 14,009

. inhabitants. Haiti, meanwhile;

has a population of around sev»
en million, many of them look-
ing for an escape at any price;
“If we don’t act now, it’ s oven
he said.

Obeah cursed or not, ailded

_ Mr Cooper, the Bahamas must

save itself from the Haitiag
hordes or die.

© What do you think? Fax
328-2398 or e-mail jmarquis@tre
bunemedia.net

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THE TRIBUNE

MONDAY, APRIL 18, 2005, PAGE 3C

SS eS









EMPLOYEES of the British Colonial Hilton (one pictured
at left), were provided with a wide range of health services
as part of the hotel’s annual Health Education Fair last

week.

(The Tribune archive photo)

we

“There is far too much that is wrong about
the recently announced Cable Beach deal. It
is the wrong deal, on the whole island, in
the wrong place, at the wrong time and is

' being done in the wrong manner.

' “The investors are paying a measly $45

_ million for a hotel which cost Bahamians
more than $125 million to build, and which,

"as is, is worth more than $45 million.”

. — Chairman of the Free National Move-

. ment Carl Bethel on the billion-dollar Cable
Beach re-development project scheduled

, to begin in 2007.

rabies

_. “A lot of our youngimen gre.

.. themselves. with knives and machetes and



‘School. oe |

he recently

announced billion

dollar Baha Mar

Cable Beach deal

is the “wrong
deal” for the country and has
come “at the wrong time”,
FNM chairman Carl Bethel
claimed last week.

At a meeting of the Golden
Gates constituency association
of the Free National Move-
ment, Mr Bethel said that while
there is tremendous opportu-
nity for a realistic, practical and
well thought out investment in
Cable Beach, the project
agreed to by the government
does not accomplish this.

The official Heads of Agree-
ment for the development was
signed on April 6 after the
Baha Mar investment consor-
tium announced it had signed a
new agreement with Philip
Ruffin to acquire his proper-
ties.

Construction, scheduled to
begin in 2007, will affect the
properties on which the Radis-

Nassau Beach Hotel, the Wyn-
dham Nassau Resort and Crys-
tal Palace are currently located.

The development is aimed
at transforming the Cable
Beach strip into a mega-resort,
and is projected to generate
up to 9,000 jobs in the first
three years of operation.

Mr Bethel claimed that is
unacceptable for the govern-

going about the streets causing injury and
harm to others. ~

“Just recently we concluded what we
thought was a very (successful) anti-knife
campaign in our schools. We saw success
in that there was a major reduction in the
number of people we were taking knives
from and subsequently taking before the

- courts.

“But we do have a concern that there
still are young men out there carrying
weapons on them.”

— Chief Supt Hulan Hanna comments

., on. last week’s stabbing death of a,.15.,,.|.
year-old student .of:C.V Bethel High ;

Hosanna Baptist Church
Baptist Convention Headquarters

_ Baillou Hill Road

Rev. Dr. Dolly King
Pastor

Cordially invite you

to celebrate the

Church's Second
Anniversary

~ Under the theme:
“It's a Revived Church”

ey

CRE SEE

SH

<

TUT

SS
oO

eg

Acts 1:8

Rev. Dr. Elkin Symonette, Pastor
Ebenezer Mission Baptist Church

Rev. Dr. Roslyn Astwood, Pastor
St. Steven's Baptist church

By participating and sharing in the —

following activities:

Prayer Breakfast -

Rev. Dr. Everette Brown, Pastor
New Bethlehem Baptist church

Saturday, April 16, 2005
SuperClubs Breezes at 7:30 a.m.

| Worship Service
Sunday, April 17,2005 ut
at 8:00 a.m.

Rev. Ellington Ferguson

| Celebration Services
Monday, April 18, 2005 thru Wednesday,
April 20, 2005 at 7:00 p.m.

Rev. Cedric Smith, Pastor
Mt Sinai Full Gospel Baptist Church
Stuart Manor, Exuma



son Cable Beach Resort, the '

th eearrenida

ment to “give away” Crown
land to foreign investors
because it belongs to the
Bahamian people.

RK

7:

A 15-year-old student of C
V Bethel High School was
stabbed to death last week
when an argument between
two teenagers turned violent.

Alando Williamson was
stabbed with a knife in the left
side of his chest. His death
brought to 13 the number of
murders recorded in the
Bahamas so far for the year.

Police were holding in cus-
tody a 15-year-old suspect. It
is believed the stabbing was
the result of a feud that start-
ed on the previous Monday.

ae 6 ok oe

THE jitney driver who e

allegedly attempted to assault a
15-year-old passenger on Sat-
urday was released on $5,000
bail and has had his public dri-
ver’s licence suspended after
appearing in magistrate’s court
last Monday.

Andrew Johnson appeared

before Magistrate Marilyn

Meeres and was charged with
one count of indecent assault.
It is alleged that Johnson

inappropriately touchéd the =
young girl while she was a pas- °° °

senger on his bus on Saturday,
April 9, forcing her to jump out
of the moving vehicle and run
to safety.

As a result, she received mul-
tiple injuries to her stomach
and arms.

Johnson pleaded not guilty
to the charge and was granted
$5,000 bail with two sureties.

ae eo ak ok

MPs last week dealt with a
resolution in the House of
Assembly which would allow
the government to borrow
almost $17 million to replace
funds used for repairs following
hurricanes Frances and Jeanne.

The funds would be loaned
by the Inter-American Devel-
opment Bank and would be
returned to the public treasury

Mr Christie explained;as tha: «
government had to use,money . ..,
originally allocated for other

projects to respond to the
emergency situation caused by
last year’s hurricanes.

The bank has agreed to grant
the government up to
$16,700,00 to address the needs
of temporary reconstruction,
stabilisation and repair of infra-
structure across the Bahamas.

The government is to pro-
vide the remaining 20 per cent
of the amount used for hurri-
cane relief — $4.3 million.

Under the terms of the reso-
lution, repayments must start
before July 31, 2010 and finish

no later than January 31, 2025.

The work covered by the
loan will be carried out by the
Ministry of Works and Utili-
ties.

Most of the work, which has
been underway since late last
year, would be undertaken on
Grand Bahama, Abaco, San
Salvador, Cat Island, Eleuthera
and New Providence and would
include repairs to schools and
other public buildings, tempo-
rary housing and repair of
infrastructure works such as

_ docks, roads and bridges.



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IDEAS

SUNDAY, APRIL 17,2005 | THE MIAMI HERALD ; 4C







>=
- Y CAROL ROSENBERG
; crosenberg@herald.com
2 = : - A _ round the world next weekend, Jews celeb at
‘Passover, the festival of freedom marking the
7 a exodus from Egypt by Israelites as they woun
—_ ii
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“Copyrighted Material

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oeediiedl renewal.’
-
*
-— - -
_ - : eos YEHUDIT ROSENFELD, 10, AVITAL ROSENFELD, 12
oe os fifth-grader: seventh-grader:

SRNIGHERGE —. oo ‘Freedom means going to public places an
RUBIN: Unless the U.S. takes a more - : — . riding on buses — without being worried ab
active approach to the Gaza o ae being blown up by a terrorist. (Well, more
withdrawal, the Israeli pullout will 8 a correctly, without our mother being worried

make the conflict worse

KRAUTHAMMER: The Nationals
come to Washington and a
reformed baseball addict falls
off the wagon





5C sunpay, APRILI7, 2005.

INTERNATIONAL EDITION

NAOMI CHAZAN | PROFESSOR, PEACE ACTIVIST

Remember the lesson of liberation

assover is the festival of

Jewish emancipation

from slavery and the
prejudice, injustice, and inhu-
manity it entails. Over the
centuries, this holiday —
which coincides with the joy
of spring — has come to sym-
bolize the universal quest for
individual and collective free-
dom.

This year, the Passover sea-
son serves as a painful
reminder that those who sys-
tematically deny others their
liberty and trample on their
basic rights cannot themselvés

ELISHA BASKIN
CONSCIENTIOUS
OBJECTOR

I will not
serve inan
occupying
army

his year I expected to
spend Passover in

prison. Like every high
school senior, I faced an auto-
matic draft into the Israeli
Army. But I made the choice
not to serve in the Israel
Defense Forces — because
my conscience would not
allow it.

Passover is a symbol of
freedom. It is a festival where
we are commanded to recall
the suffering that our people
endured in Egypt under Pha-

raoh. For years, we yearned to .

be free and live in our own
land. The essential mitzvah,
or commandment, which we
are obliged to follow is to
read the Haggadah, the
account that reminds us of
the history of our ancestors in
Egypt. We are commanded
never to forget the experience
of what slavery did to us.

Yet, while Jews and Israe- -

lis celebrate our freedom, I
cannot help but wonder how
we can at the same time
deprive our Palestinian neigh-
bors of their most basic free-
doms. We Israelis have
become the Pharaohs of
another people. We deny
them the freedom of move-
ment with checkpoints, road-
blocks, walls, house demoli-
tions, and political
' bureaucracy — all in the
name of national security.
How can we celebrate our
freedom with dignity when
we deny it to those who share
this land with us? :
_ My country defines me as
a refusenik — an objector —
because I will not serve in an
occupying army. Rather than
send me to prison as a pro-
tester, the army has relieved ©
me of my obligation to serve.
So this year, I will volunteer
for national service — proba-
bly doing comimunity work in
a poor neighborhood — and
will celebrate my freedom on
Passover with a clear con-
science.

Baskin was born in Jerusa-
lem to parents who immi-
grated from the United States.
She enjoys cooking, photogra-
phy, reading and the beaches
of Egypt’s Sinai Peninsula.

be truly independent. Israel

peace agreement.

has controlled the West Bank The suffering of the dispos-
and the Gaza Strip since 1967, sessed and disenfranchised, as
and continues to do so against Jewish history so poignantly
the will of the Palestinians, highlights, harms not only the

who have repeatedly resisted
Israeli rule.

The adverse material,
human and political conse-
quences of the prolonged
Israeli occupation are by now
legion. The construction of
the separation wall and expan-
sion of settlements have fur-
ther circumscribed personal
mobility, economic viability,
political activity and a lasting

subjugated; it also defiles the
oppressors’ moral fabric and
internal cohesion.

Israeli society has become
more fragmented, its demo- .
cratic ethos increasingly
assailed, its security more
questionable, and its govern-
mental capacities severely
diminished the longer the Pal-
estinian-Israeli conflict has
endured. Unless Israel acts

now to promote a permanent
settlement based on the cre-
ation of a strong, viable Pales-
tine alongside Israel, its own
durability will be irretrievably
compromised.

The lesson of the liberation .

of the Children of Israel from
enslavement in Egypt, as that
of all subsequent liberation
movements, is unequivocal:

- Freedom cannot be gained

at the cost of repressing oth-
ers.

This Passover, Israelis,
with the help of freedom-lov-
ing people throughout the

world, must dedicate them-
selves to making 2005 a living
testimony to the timelessness
of the Pesach story. They
should do everything possible
to promote Palestinian free-
dom to liberate themselves
from the shackles of occupa-
tion too.

- Chazan, a former member
of Israel’s parliament, is pro-
fessor emerita of political sci-
ence at the Hebrew University
of Jerusalem and currently
heads the School of Society
and Politics at Tel-Aviv Col- -
lege.



AVITAL AND YEHUDIT ROSENFELD
SCHOOLCHILDREN

At Passover, we can n feel
as if we were just freed

pogrom.

reedom means going
HF to public places and But it isn’t just mivcicall
riding on buses — On Passover, the holiday of
without being worried about freedom, we remember how
being blown up byaterror- ‘we got out of slavery in
ist. (Well, more correctly, Egypt, where we got bread
without our mother being for free but could die as

worried.)

Freedom means having
an army that can, and is, pro-
tecting us — and fighting for
us. It means, feeling you’re
in your own country where
you can pick up your chin

and grin, and say, “I’m whoI

am — aJew!”

And no one will stop us
from saying that. Or feeling
that.

In school, Yehudit just

right down. They weren’t
secure; they never knew
what will happen or who
might get killed in the next

HAGAIEL-AD | GAY RIGHTS ACTIVIST

Event will show change,

slaves. Once out of Egypt,

‘we became our own bosses,

and got God’s command-
ments, or mitzvot, so we
could be spiritual. We could
make up our own minds.
Each year at Passover, we
get to show that we’re free:
We don’t have to sit up
straight at the Seder table.
We lean on pillows, like
kings and queens — the
queens that we are! And lis-

performed in Fiddler On the ten comfortably to the story

Roof. The show and the title of the Exodus from Egypt.
-Mean the exact oppositeof And feel like we were just

freedom. People inthe play _ freed ourselves.

were like a fiddler in the Avital Rosenfeld, 12, is a

middle of asteep roof— and __ seventh-grader at Jerusalem’s

one step could make you fall Evelina de Rothschild School

for girls. Her sister, Yehudit,
10, is a fifth-grader there. She
played Yenta, the matchma-
ker, in ‘Fiddler On the Roof.

RABBI ELIYAHU MITTERHOFF
WEBSITE DIRECTOR

Man’s greatest hibdaire |

is to do what is right

o you want to do the

right thing? The

unanimous answer of
a healthy : individual to that
question is always yes.

But we don’t always do
the right thing because we
are enslaved — to lust,
anger, arrogance and jeal-
ousy. And, as a. consequence

- of our transgressions we

destroy our lives and the
lives of our loved ones. Even
the rich and famous can ruin
their achievements with one
appalling act caused by a
moment of weakness.

Our great rabbis explain
that Egypt epitomized deca-
dence and was an absolute
vacuum of spiritual values.
So besides being physically
enslaved there, we were also
spiritually enslaved. The
‘king of Egypt tried to spread
the impurity and immorality
of his corrupt society... .

His multinational cam-
paign for consumerism and
sensuality left us helpless
and despondent, In such an

environment was it possible
to be moral? Sound familiar?

Our rabbis tell us that in Eg- _

ypt we were one step away
from spiritual devastation.

During Passover, we are
given an annual chance to
revitalize our spirituality.
We eat matzo rather than
bread, which symbolizes the
physical pleasures of this
world. G-d redeemed us and
gave us His Torah, with its’
faultless balance, as a rem-
edy for our material drives.
Only someone who is
involved in Torah is truly
free. Freedom means the
opportunity to live in purity
and man’s greatest pleasure
is to do what is right. Have.a
great Passover.

Mitterhoff is the director
of GlobalYeshiva.com, a
Jerusalem-based online
Orthodox Jewish advice
forum to debate and discuss
all types of religious issues
and Jewish law. He immi-
grated to Israel from the
United States in 1981.

RACHEL SAPERSTEIN | GAZA STRIP SETTLER

- Rockets’ explosions, threat
of expulsions cloud season

more diversity is possible

reedom for me this already worked for months
F Passover means the towards this event —

right to openly livein despite a strongly worded,
Jerusalem, and shareinthe aggressive opposition by
struggle for its renewal. Jerusalem’s mayor and

This August, thousands _ some religious leaders who

of people from aroundthe do not want the gathering to
world — Jewish, Christian take place. But we have
and Muslim; religious and received support from
secular; gay and straight — _ other religious and commu-
are planning to come to nity leaders and I am confi-
Jerusalem to celebrate in dent that it will take place
Hebrew, Arabic, English —a great achievement for
and dozens of other lan- democratic values, social
guages Jerusalem World- justice, and freedom.

Pride 2005, the global gay
celebration themed “Love
Without Borders.”

Here at the Jerusalem
Open House, we have

It will also be a very per-
sonal moment of hopeful-
ness and joy. For me, ona
typical day, I would get
plenty of derogatory com-

ments walking hand in hand
with the man I love in Jeru-
salem. But Jerusalem

s aresident of Gush Katif,
Aten means the right

to full, safe nights of sleep
without 2 a.m. explosions of

mortar and Qassam rockets in

WorldPride 2005 will not be my community.
one of those days. Freedom means that our chil-
Change is possible, and dren can walk to school in the
celebrating diversity in morning without gunfire or gre-
Jerusalem can be a reality nades lobbed at them.
— if only for.a few days. It Freedom means knowing I
will be a global opportunity can enjoy this holiday without
to make a stand for liberty, the heart-palpitating knowledge
peace, and pride — with that my prime minister is going
thousands of people from to.expel me and give my home,
all over the world joining synagogue and community to
together. the Arabs, on the slim chance
EI-Ad is executive direc- that they will give Israel a few
tor of the Jerusalern Open months of quiet.
House, a gay and lesbian Freedom means opening the
center for people of all faiths. newspaper and not reading how
He was born in Haifa. a brave people have been

branded “evil settlers” because

“they choose to defend their Bib-

lical homeland — so it will not
be given to an enemy as a
reward for terrorism.

And lastly, freedom means to
gaze at the army of Israel and see
courageous defenders and not
the means by which Israel will
pull Jews from their homes —
because they are Jews.

May the edict of expulsion be
rescinded and our holiday of
Passover be one of joy and free-
dom.

Saperstein, a mother and
grandmother, was born in New
York and moved to Gush Katif in
the Gaza Strip with her husband
Moshe, an Israeli army veteran.
Both are active spokespersons for

" their community.

ISSUES IDEAS THE MIAMI HERALD

THE MIAMI HERALD

RABBI MAJ.
HOWARD
‘HANOCH?’ FIELDS
U.S. ARMY

Nations’

freedoms

come ata
high cost

ay to day, soldiers
D give up their per-

sonal freedoms of
where they work, what they
eat and wear, what informa-
tion they can share, even
when they can retire. Each
of us here is missing at least
a whole year of birthdays .
and holidays with loved
ones.

I would like to be home
for Passover, listening to my
children recite the four |
questions and discussing
their understanding of free-
dom. But I gave that up
some years ago with the
hope that they can safely
have Passover at home each
and every year, without hav-
ing to go to war themselves.

This Passover, Jewish
service members and civil-
ians serving in Iraq and

_ Kuwait will make great

efforts to join one of the
many seders taking place on
bases. All of us will be
thankful that we come from
a free nation and will fore-
most discuss our role in the
liberation of an oppressed _

one.

Weare very proud of |
being free. Here in Iraq we
want to share that desire for
freedom. We in the military
are willing to temporarily
give up our personal free-
dom to help Iraq become an
autonomous nation of free
peoples represented by their
own form of democracy.

What America can give
to Iraq is national.freedom;
what Americans can learn
from our experience here is
how precious and fragile
freedom is. Just as freedom —



uit came at a cost for America‘:
and Israel, 'it has a ‘high ost’ 4

here for Iraqis and coalition
forces. As we lean back in
comfort at this Passover

‘ seder, we also will drip-wine .
for each of the 10 plagues to
remember the suffering and
high cost of freedom.

Fields’ family lives in Col-

orado. He has spent ll years
in the military, 10 as an
American Army chaplain
and one in the Israel Defense
Forces. He wrote this com-
mentary north of Baghdad,
where he will organize tradi-
tional Passover meals —
Seders — for U.S. soldiers.

SGT. KEVIN
MARKS
ISRAELI ARMY |

lam very
proud to

| protect Israel

ll start off by telling a

little bit about myself:

My name is Kevin
Marks, and I grew up in
North Carolina. After finish-
ing high school, I made ali-
yah and joined the Israel
Defense Forces here in
Israel.

After a lot of training and
hard work, Iam now a
fighter in a special unit: the
Golani — the best infantry
brigade.

When I sit and think
about what Passover means
to me, a few things come to
mind. Passover is about the
story of our people leaving
Egypt, finally becoming free.

I now remember the
times I celebrated this holi-
day with my family and
friends in America. I haven’t
been able to celebrate Fass-
over with my family in
America in the past two
years because I’ve been in
the army.

But I am very proud to be
here, to protect the land that
God eventually made our
home after the exit from

Egypt.

Marks, who lives in Tel
Aviv when not training with
the military, immigrated in
early 2003 and was drafted
into the Israel Defense Forces
in August 2003.











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PAGE 8C, MONDAY, APRIL 18, 2005 | _ THE TRIBUNE |



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Warning: Tobacco Smoking may cause Heart Disease or |
Lung Cancer among other diseases |





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The Tribune



Che Miami Herald

BAHAMAS EDITION



Volume: 101 No.119

Lester Mortimer

struck by car in
front of family

li By CARA BRENNEN
Tribune Staff Reporter

THE man whose candy com-
pany was loved by generations
of Nassau children died in a
road accident over the week-
end in front of his wife and fam-
ily. >
Mr Lester Mortimer, 71, own-
er of the popular Mortimer’s
Candy Kitchen, was crossing the
road at Cable Beach when he
was struck by a car driven by
an off-duty policeman.

His wife, daughter and other.

relatives witnessed the incident
and were visibly distraught.
More family members, includ-
ing grandchildren, rushed to the
scene to comfort them.

One woman bystander said:
“It is a shame that an elderly
man who has survived so much
had to die in such a way. Why
isn’t more done to regulate traf-
fic on this road?”

Mr Mortimer, of Blue Hill

Road, was knocked down by a
Mitsubishi Lancer driven by
Terrance Thompson, an off-
duty officer.

He was trying to cross the
road in front of SuperClubs
Breezes when the tragedy
occurred. Yesterday, a bunch
of flowers had been left on the
kerb to mark the scene of the
crash.

Mr Mortimer’s death is the
second traffic fatality in as many
days, and the third major acci-
dent in a week, causing police to
warn motorists and pedestrians
to use caution while on the
streets.



@ 71-YEAR-OLD
Lester Mortimer

Chief Supt Hulan Hanna said
the incident occurred some time
before 9pm’on Saturday when

. Mr Mortimer was making his

way across the median to the
Breezes hotel.

Mr Thompson was travelling
east when his vehicle hit Mr
Mortimer, who died at the
scene before an ambulance

could arrive. Although Mr.

Thompson’s vehicle was exten-
sively damaged, he did not
receive any major injuries.

The accident was witnessed
by Mr Mortimer’s wife, daugh-
ter and other family members
who were to accompany him
that evening.

One woman witness said:
“Until the government puts
some speed bumps on this road,

SEE page 12





per person
includes airfare, ticket tax
visa and service fees
3-DAY WEEKEND PACKAGES
AVAILABLE




MONDAY, APRIL 18, 2005

scene after Saturday

oht’s accident.
(Photo:Felipe Major/
Tribune staff)

@ By TIFFANY GRANT
Tribune Staff Reporter




LESTER MORTIMER,
the man knocked down and
killed on Cable Beach on
Saturday night, was
described by a family mem-
ber as a loving, giving and
hard-working person.

Yesterday The Tribune
visited the family home at
Blue Hill Estates. His eldest
daughter Denise Mortimer
said the family is coping the
best it can, and her mother
Gloria is “holding up well”
considering. she witnessed
the accident. She said her
mother is calm and appears
to be over the initial shock.

“Death is hard to cope
with under any circum-
stances. These circumstances
make it more difficult, ” she
said.

Cayle Mortimer, Mr Mor-
timer’s grandson and the
first to arrive on the scene,























Family remembers
‘loving and giving’ man

said he saw attempts being

made to resuscitate his:

grandfather. His aunt was
very emotional and he tried
to comfort her.

Mr Mortimer said he saw
“Just a lifeless body.”

The victim is well-known
for his business, Mortimer
Candy Kitchen, situated on
East Hill Street.

For years, the business has
supplied home-made can-
dies and the famous snow
cones.

Ms Mortimer said her
father had been in the candy
business from a child, and
every day for a few hours he
went to the store and acted
as consultant.

Currently, his son Cornel
and daughter-in-law Beverly
operate the candy store. Mrs
Mortimer said that her

father-in-law knew every-.

thing about the candy busi-

SEE page 12



ire destroys
‘Lucayan

edical centre
in Freeport

THE Lucayan Medical Cen-

tre in Freeport has been
destroyed by fire.

Dr Marcus Bethel, who
managed the clinic, told The
Tribune that the fire broke out
around dawn on Friday before
the clinic opened, which was
fortunate because no-one was
there.

He said that investigations
are continuing but the prelim-
inary report suggests the fire
was electrical. The clinic had
been opened in 1968 and was

expanded in 1983.
\


















i MINISTER of Health
Dr Marcus Bethel

Two wounded
in shooting

TWO men were wound-
ed in a shooting incident in
Peacock Alley off Francis
Avenue, Fox Hill yesterday.

They were taken to

‘hospital, but their condition

was not known at press-
time.

‘RBC ROYAL BANK OF CANADA

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hama Islands’ Leading


. PAGE 2, MONDAY, APRIL 18, 2005

THE TRIBUNE



Bee

PM seeks to strengthen relations

with the Turks and Caicos Islands









































































@ THE prime minister meets
school children during his visit.

VLE P29 FF ES 8, Bat Be, Be Pa Bs Ba Us Ba Be

B.

pcan ecolintzeie ttn sessed trendiest ub

@ By CARA BRENNEN
Tribune Staff Reporter

PRIME. Minister Perry
Christie has pledged that the
Bahamas will foster deeper
relations with the Turks and
Caicos Islands.

His remarks came at the
official opening of the new
N.J.S.. Francis legislative
chamber building of the Turks
and Caicos on Friday.

He also publicly thanked
the Turks and Caicos islands
for their prompt response and
financial contribution follow-
ing Hurricanes Jeanne and
Frances last year.

Mr Christie officially
opened the building with
Chief Minister of Turks and
Caicos Michael Misick.

“In the months ahead, we

will seek to concretise our

pledge to strengthen relations
by launching a number of ini-
tiatives, such as. the reactiva-
tion of the annual consulta-
tion between our two govern-
‘ments on matters of mutual
interest,” he said.

Education

Among matters to be dis-
cussed would be national secu-

that you offer tertiary schol- .

arships to all who make the
grade, but I caution you from
our own past experience to be
careful not to allow economic
growth to outpace the devel-
opment of your people.

“In like manner,.our coun-
try, The Bahamas, is also
experiencing an unparalleled

‘ level of growth. Despite the

effects of the two recent hur-

ricanes our tourism industry



“At a deeper
level, it is
symbolic of your
history, your
progress to
date and the

aspirations of the

rity, continued co-operation - -

in health, education, illegal
migration and areas of com-
mon economic interest, such

as tourism related issues, said :

Mr Christie.

He said the new building
was more than a beautiful edi-
fice.

“At a deeper level, it is sym-
bolic of your history, your
progress to date and the aspi-
rations of the people of the
Turks and Caicos Islands. In
truth, it is the place that
defines your democracy and
your progress as a people.”

~Mr Christie acknowledged
‘the close familial and co-oper-
ative ties which have existed
between The Bahamas and
the Turks and Caicos Islands
since 1799 when the islands
were placed under the juris-
diction of The Bahamas gov-
ernment.

Mr Christie noted that the
Turks and Caicos are poised
for a rapidly growing economy
through a number of planned
investments, but cautioned the
country to ensure that the
social side of investment is not

overlooked and, even more -
- importantly, to ensure that

issues such as the environ-
ment, migration issues and
balanced growth are closely
and prudently monitored.

“I was pleased to discover

\

people of the
Turks and Caicos
Islands. In truth,
it is the place
that defines your
democracy and
your progress as
a people.”
Sa Se ee as
Prime Minister
Perry Christie

is at the strongest'level it has
enjoyed in many years. .

“Our external reserves are
at their highest level ever and
the overall economic growth
rate will average around three
per cent per annum this year,”
he said.

He also used the opportu-
nity to thank the people of
Turks and Caicos for assisting
the Bahamas after last year ’s
hurricane season.

“The Chief Minister and his
delegation were the first for-
eign governmental delegation
to visit, touring the hardest hit
areas of Grand Bahama. You
not only visited but you were
the first, the very first, to con-
tribute to our relief and-recov-
ery in the significant amount
of $200,000.

“Many other governments
and international organisa-
tions subsequently came for-
ward but the magnanimous
gesture by the people of these
islands will not soon be for-
gotten by our people, espe-
cially those worst affected,
many of whom live in Grand
Bahama and Abaco and many
of whom are of Turks Island
descent.

“This is the kind of co-oper-
ation to which I refer when I
say ‘blood is thicker than
water’,” he said.

TROPICAL
arse a
a AAAI
PHONE: 322-2157



Orange

Hill Beach

clean-up

@ By TIFFANY GRANT
Tribune Staff Reporter

IN PROMOTING “envi-
ronmental justice”, mem-
bers of the New Providence
Community Church, along
with other environmentally
conscious citizens, flocked
to Orange Hill Beach on
Sunday to help restore it to
its natural beauty.

Carrying black garbage
bags, they went along the
‘coastal area cleaning the
ground.

Pastor of community
development Shaun Ingra-
hain told The Tribune there
are a lot of environmental
injustices, and the church is
trying to provide solutions.

He said members are
engaging in discussions sur-
rounding “environmental
justice” through clean-ups
and restoration of beaches.

“We are a part of one sys-
tem, one created order. In
John 3:16 it said: ‘God so
loved the World’. So often
we interpret that world as
just people, but we believe
that it means the whole
world, including the envi-
ronment, and the beach.

“So we are to live in har-
mony, not just with each
other, but with our environ-
ment,” said Mr Ingraham.

Phases

.The project consists of .
two phases, which include
the cleaning up of trash on
the beach and placement of
plants on the beach to help
anchor the sand, said Mr
Ingraham.

Other-groups involved in
the initiative are the Ocean-
ic Bank, Caves Village, the
Ministry of Tourism and the
Ministry of Environment.

Ruth Thackray, a resident
of Orange. Hill, has com-
piled a “First Do No Harm”
proposal, which outlined the
current situation at Orange

Hill Beach.

‘She recommended solu-

| tions such as garbage map- .
" agement, sand dune restora-

tion and protection of the
dune from car parking.

In her proposal she not-
ed the need for a newly-built
beach dune, which would’
consist of a mixture of loose
beach fill, rocks, sand organ-
ic matter, dead seagrass and
soil.

She advised beachgoers;
“Every time. you visit the
beach try not to stand on_lit-
tle plants and try to stand
on stones to access the
shorelines. Try not to park

‘cars on the beach and take

all garbage home.

“Do everything you can
to be a good citizen and
your children will respect
you, so that their children
can have something that
they will be able to go to in
the future,”

Chairman of the Coastal
Awareness Committee Earl-
ston McPhee said the initia-
tive is a great example to
utilise and encourage other
communities.

“T think it is the kind of
initiative we need in this

| country, where persons

within the community take
more responsibility as stake-
holder,” he said.


MONDAY, APRIL 18, 2005, PAGE'3

THE TRIBUNE &

Opponent of Haitian

illegal immigrants
‘fears for his life’

A LONE campaigner against
illegal Haitian immigration in
Abaco believes his life is in
danger.

Jeffrey Cooper claims he has
been threatened by immigrants
who he accuses of imposing
Third World standards on the
island.

“T think my life is at risk,” he
told The Tribune last night, “but
I don’t care because I know
what I’m doing is right.

“If the government does not
act now, there is going to be a
Haitian takeover of Abaco and
we are going to be in real trou-
ble.”

Mr Cooper, a photographer
and entrepreneur, has been out-
spoken in his condemnation of
illegal'Haitian immigration for
some time.

He regularly airs his views on
Radio Abaco, but is now trying
to force government action
through Minister of Works
Bradley Roberts.

He has written to Mr Roberts
to seek a meeting in Nassau.

As a result of his views, Mr
Cooper says he is threatened
by Haitians nearly every day.
“They challenge me and are
biggety with it,” he said.

Mr Cooper, a father of two,
says rampant illegal house-
building and lack of proper
sanitation are two urgent con-
cerns arising from the Haitian

- invasion.

He added that settlements
were now springing up in Aba-
co without planning approval
or proper waste disposal
arrangements.

“As a result people . are get-
ting sick,” he said: et

“There are people her how
with all kinds of mysterious ill-
nesses, stomach ailments and
soon... .

“The Haitians are digging
holes as lavatories and throwing



' dirty diapers on the ground.





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They even bury premature
babies.

“All this is affecting the water
table. Many Haitians here are
diseased. If nothing is done, this
is going to become a major
problem for Abaco.”

Last week, Mr Cooper said

“If the
government
doesn’t act
now, there is
going to be a
Haitian
takeover of
Abaco and we
are going to
be in real.
trouble.” ©





Jeffrey Cooper

many Bahamians would not
speak out because they feared
witchcraft.

Even pastors had told him to
“watch out” because of the
threat of obeah. “I keep being
told that my soul will end up in
Haiti,” he said.

But he said he did not believe
in obeah and would not be
intimidated. “I think Bahami-
ans are now getting to the point

eee aie are: prepated' to

* he said."

on nothing is saa. I think it
is going to be war eventually.
These Haitians are getting vio-
lent. They will curse you out.
They want their rights, even
though most of them are ille-







i JEFFREY Cooper says he will not be intimidated

gal.”

Mr Cooper said some
Haitians are now building
shacks not just for their own
use, but to go into the rental
business, with other immigrants
as.téfiants.’: 7? oy

“He'also-criticised then-bur-



jal'methods.saying, they: wétre

ignoring’Abaco.custom by
building tombs.

“They build tombs so they
can get back at the bodies for
obeah,” he said. “But the cus-

tom in Abaco has always been
to bury bodies six feet under-
ground.”

Mr Cooper is urging Abaco-
nians to put pressure on the
government so that the illegal
house-building is stopped.

“T want things to happen offi-
cially before people start to take
matters into their own hands,”
he said.

® SEE today’s INSIGHT

section for the full story of Mr
Cooper’s lone campaign

Children
are on
song for
opening

STUDENTS from
Deep Creek Primary
sing during the official
dedication ceremony of
the South Andros
Senior Citizens Home in
Kemp’s Bay.

Minister of Social Ser-
vices and Community
Development Melanie
Griffin and Lady Pin-
dling, widow of former
Lynden Pindling also
took part in the event
on Friday.



(Photo: Eric Rose)














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PAGE 4, MONDAY, APRIL 18, 2005

THE TRIBUNE







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

“Copyrighted Material
Syndicated Content

Available from Commercial News Providers”



EDITORIAL/LETTERS TO THE EDITOR












EDITOR, The Tribune.
PLEASE publish the fol-

lowing open letter to the

Minister of Education.








Hon Alfred M Sears, MP
Minister of Education,
Ministry of Education.

Dear Minister Sears,

THANK you for resolving
the emergency water supply
for Oakes Field Primary
School. However, we, the par-
ents of the school, remain
deeply distressed about the
continuing lack of attention
and resources the school
receives, especially since it
performs, if not the best,
among the best on GLAT
examinations year-in and
year-out!

The very caring and able
administrators and teachers
led by Mrs Beryl Gray, Prin-
cipal, are doing all they can
under the circumstances at
the school. It is past time for

more!

We have not had a music
teacher for the entire school
year, and only about eight
weeks remain. The.children
in the entire school have lost a
full year of music! Last year,
« and in previous years we had

a very good music teacher in

Mr Whyte. When school

reopened, Mr Whyte did not

return. We were informed
that he was transferred to
another school or district.
You have spoken often
about the need for the chil-
dren to read and rightly so,
but music;is also important.

Numerous surveys. have found

that introducing music, and

specifically playing an instru-
- ment and learning to read
music, causes the child to
develop cognitive skills, be
more focused in school, per-
form better academically and
improves behaviour, espe-
cially in the case of young
boys who tend to pose the
greatest challenges for our
teachers and administrators.
Given the above, Oakes Field
Primary School children have
unfortunately been at a sig-
nificant disadvantage this
school year.

A very critical person the
school does not have is a
Guidance Counsellor. Our
school, like many others, are
facing serious challenges with
young boys. The one place




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where professional interven-
tion can be of assistance is
through the school’s guidance
counsellor. Not only Oakes
Field, but every primary
school, without exception,
ought to have a professional
guidance counsellor, so that
early intervention can be
achieved, thereby helping our
young boys who face many
challenges. Every day that
passes opportunities for early
intervention are missed and
while these opportunities are

missed the individual situa-

tions.are worsening.

Some of the classes are
overcrowded. We have a Ist
grade class with almost 40 stu-
dents! How is it that the stu-
dents are to learn and get any
type of individualised atten-
tion? This also creates a very
difficult management job for

‘the teacher. Imagine, almost :

40, five-to-seven year olds in
one class!

As much as you have made
about the need for our chil-
dren to read, the reality is that
there is no library at Oakes

Field, none! Where are the
children expected to be
exposed to the habit of read-
ing, other than at home, and if
they are not exposed at.
home? Nowhere. If you are
serious about the children .

.. reading, and I have.no.doubt

you are, then facilities and
environs must be created to
encourage the children to
read. Ironically, it is primary
school, at an early age of a
child, where, if the child is
exposed to the joys of. read-
ing, it will become a part of
the child’s life forever.

We do not have a computer
laboratory at the school, com-
puter classes, computers for
the students to use in an infor-
mal setting, or to use for class
projects. In 2005! There is no
question that our children are
at a severe disadvantage not
learning computers when it is
being taught in probably
every private primary school.
And, what about being
exposed to the internet!
Every child cannot afford a
computer or internet access
at home and public library use
is costly.

The physical condition of
the classroom floors are noth-

_ ing short of atrocious. The

floors are supposed to be
tiled, but you would be for-
tunate to see any tiles when
you enter the classrooms.
Mostly, you see bare concrete
floors! This is unsafe, unsani-
tary and certainly not condi-
tions that children and teach-
ers should have to endure.
Yet, our children are expected
to learn in that environment
and to do well!



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Applications may be sent to:

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or
P.O. Box N-4066, Nassau, Bahamas



Open letter
Minister
of Education

As you may be aware, a lot
of children walk to school.
However, the walkway from
the entrance to the classroom
blocks are not covered there-
fore it is commonplace for the
children to get wet and some-
times soaked when it rains.
The areas that are covered
are in such disrepair that they
present a health hazard for
the children.

When it rains, the slightest
rain causes flooding in the
entire area where parents
drop off and pick up their
children, we saw this several
weeks ago. The school is in
desperate need of painting
inside and out and the roofs

‘have been patched and

repatched. Perhaps a more
permanent solution can be
found. The school’s electrical
supply is insufficient to meet
the demands. :
The safety of our children is
a continuing challenge regard-
ing dropping off and picking
up the children. We are in
-desperate need of a separate
entrance and exit to the
school. I am certain you are
familiar with the very narrow
entrance to the school which
also serves as the only exit.
Children are exiting cars in
the street at times where two
cars cannot safely pass. At a ©
recent PTA meeting the par-
ents expressed considerable
concern about the need for a
separate entrance and exit.
We understand that cover-
ing of the quadrangle where
assemblies are held has been
in the plans for some time but
nothing has happened in that -

regard. Oakes Field Primary

School does not have an audi-
torium or large classroom to
hold the student population

~ which is almost 700 students.

The only place to have an
assembly is the quadrangle
which is in the open air,

‘exposing the children to rain.

In fact, for the past two years
we have had to discontinue
the award ceremonies due to
rain.

As to sporting facilities,
except for the recently-built
basketball court, there are no
facilities. There is no track,
soccer field, volleyball area,
baseball or softball field.
‘There are hardly any sport-
ing facilities at the school.
How are the children expect-
ed to grow athletically and
healthy?

There are a lot of serious '
issues that need to be. ~
addressed. We look forward .
to the Ministry of Education
resolving them expeditiously.
This letter will be made avail-
able to the public.

MICHAEL A FOULKES
A Deeply Concerned
Oakes Field Primary
School Parent
Nassau,

~ April 13, 2005.





















THE TRIBUNE

MONDAY, APRIL 18, 2005, PAGE.5



[ee
Time to make up our minds about

the future of Harbour Island.

Ip the wake of last week’s
explosive public meeting
in Harbour Island, local busi-
nessman Warren Grant opined
that the Romora Bay expansion
is something that is perceived
by native Brilanders to be in
their best interests, and that the
real motivation of the second
home owners in opposing the
project is their fear for the
rental market for private homes
once so many new hotel rooms
are built.

He suggests, too, that, while it
may suit the second home own-
ers to keep things just as they
are now, the local business com-
munity (of which he is a signif-
icant part) actually yearns for
more large hotel projects of the
kind promised by the Romora
Bay and Valentine’s Yacht
Club expansions.

Right or wrong, his is a point
of view advanced by many
locals.

Like many Harbour Isl-
anders, Mr Grant has clearly
witnessed with mixed emotions
the steady growth in the island’s
popularity as a second home
destination.

Tales abound of homes and
beachfront properties in Bri-
land quadrupling in price over
the last decade. In-one instance,
a home that was listed for sale
in the summer of 1990 for
$80,000 was recently sold for
more than $1 million.

he huge second home

community has gener-
ated a level of economic activi-
ty unheard of in any communi-
ty of comparable size in The
Bahamas (except, perhaps,
Spanish Wells, which follows a
very different economic model
altogether). It has also stamped
an unusual character on the

PERSPE

ANDREW

local tourist industry, with sea-
sonal repeat visitors staying not
in large hotels, but in either
their own private homes or
rental units.

W here has all of this
left the locals? Cer-

tainly, it has left them with jobs.
Reliable estimates suggest that
Harbour Island has negative
unemployment of up to -10 per

CTIVES

ALLEN

nesses are there for anyone who
actually visits the island for any
length of time.

Firstly, it has signally failed
to create anything resembling
a middle class on the island.
This is in stark contrast to the
intensive tourist industry in
New Providence or Grand
Bahama, which continues to
sustain the growth of a profes-
sional and entrepreneurial mid-
dle class.





“Ghettoisation is now sucha |
pronounced trend on this little |
island that it would probably

take many years to reverse —

even if we did have a govern-
ment up to the task.”



cent. This means that the island
must augment its workforce by
bringing in many mainland
Eleutherans (some from as far
south as Rock Sound and
beyond) as day workers.

All this has also led to a
huge upsurge in the importa-
tion of consumer goods onto
the island.

y et whatever the bene-
fits of the Harbour

Island economic model on
paper, certain glaring weak-

An Atlantis or Our Lucaya
creates such jobs simply
because it is'an undertaking of
such magnitude and sophistica-
tion that it requires services of
all kinds.

By contrast; a tourism indus-
try of the nature of Briland’s,
while it may indeed create
many jobs and bring in much
money, operates on a far nar-
rower employment base.

In fact, this base reflects
little more than the cumulative:
employment arrangements
of the various homeowners —



Bahamas on trac



implement passport
technology on time

@ By CARA BRENNEN
Tribune Staff Reporter

FOREIGN Affairs Minister
Fred Mitchell is hopeful the
Bahamas will have in place the
equipment needed for biomet-
ric passports this year ahead of
the October 2005 deadline.

Mr Mitchell said it was an
embarrassment that the matter,
which is a simple issue, has not
yet been done.

He explained that all that is
now needed is the special
machine to print the passports.

He said the delay had
occurred because the tender for
the machine went to bid and
because the ministry did not
want to invest in equipment
which did include the required
features.

However, he said he had
been assured by ministry offi-
cials that the new equipment
would be in place this year.

Changes

Mr Mitchell said once the
machine is in place, adjustments
in passports would be made as
persons came in to renew their
old passports.

However, he suspected that
once the technology was
in place, the passport office
would see a deluge of persons
wishing to convert their pass-
ports.

He said it was too early to
speculate on the cost of each
biometric passport.

US President George W
Bush has signed legislation
extending the deadline by.
which nationals of Visa Waiver
Program (VWP) countries must
provide biometric passports
upon entering the United
States.

The new deadline which has
been imposed by the Depart-
ment of Homeland Security
is October 25 2005, which is
also the date by which US
ports of entry must have the
equipment to read such pass-
ports.

Extension

Former Secretary of State
Colin Powell and former
Homeland Security Secretary
Tom Ridge had requested a
two-year extension to resolve

technical problems with the,

programme, as well as to deal
with privacy questions.

Biometric indicators are fea-
tures that can be definitively
linked to a given individual,
such as fingerprints.

Facial recognition technology
takes use of the standard photo
identification card to a new lev-
el of sophistication.

Rather than a border official
comparing a face to a passport
photo, a camera at the port of
entry captures the traveller's
image, then a computer vali-
dates the facial characteristics
of the individual presenting
the passport and the passport
itself.

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APRIL 18
6:30 Bahamas @ Sunrise - Live
j 7:30 Community Page 1540AM
11:00 Immediate Response
{2noon —ZNS News.Update Live
12:03 Caribbean Today News Update
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2:30 Treasure Attic -
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6:00 Holy Hip Hop

6:25 Life Line

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8:30 Batelco Special

8:45 Contact Magazine

9:00 Legends From Whence We
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10:00 Sports Lifestyles: Bo Jackson

10:30 News Night 13

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largely consisting of domestic
requirements.

Such professional require-
ments as individual homeown-
ers may have are handled either
in Nassau or back home.

Further, the demand for local
real estate, and the attendant
perpetual escalation of proper-
ty prices, are clearly a mixed
blessing.

Every year, the percentage
of properties in the choice areas
of the island owned by local
Brilanders dwindles further, as
locals (many of whom are with-
out the exposure and education
to make self-serving decisions)
sell off ever more of their fam-
ily property and invest the pro-
ceeds in dead-end con-
sumerism.

W hereas intensive :
hotel developments

by their nature concentrate vis-
itors to a limited physical area,
a model based on second home
ownership spreads this physical

. occupation to the point that it

competes (generally successful-
ly) with locals for space. In a
place as compact and urbanised
as Harbour Island, the
inevitable result is a form of
segregation that eventually
feeds off itself.

Unsurprisingly, then, Ghet-
toisation is now such a pro-
nounced trend on this little
island that it would probably
take many years to reverse
—even if we did have a govern-
ment up to the task! Also
unsurprisingly, crime has come,
too.

I: may very well be the
case that the Romora Bay

project is simply too big, too
environmentally intrusive and

too out of keeping with Bri- -

MELLEL
ULL

GL
Ldliddtidld,

CALE EEE
Wy

4

"SHOES FOR ALL WALKS OF LIFE"

land’s character to be responsi-
bly approved.

That will only be apparent
when and if the government
makes public the heads of
agreement it has signed with
the developer.

But the schism that is now
undoubtedly developing in Bri-
land points to matters much
deeper than one or. two indi-
vidual projects. It suggests an
island suffering the effects
of the age-old Bahamian ten-
dency simply to grasp onto
good times without a thought
of planning for the future or

even influencing the present. -
Briland has done well by
default, with no-one, ever
addressing seriously what kind
of community it should be:+a
second home community for
wealthy northerners, or a real
resort island characterised by
small and medium-sized hotels;
Thus far, all the elements at
play (locals, hoteliers, second
home owners) have simply co-
existed, since whatever diver-
gent visions for the island they
had had not reached the point
of overlap. Now it seems that
they have.

"GIFT & BRIDAL REGISTR

, cae Harbour Bay Shopping Centre - my
Co Ph: 393-4440 or 393-4448 - J

GR. Sweeting} Ss



STOREWIDE

SALE BEGINS
APRIL 14th

ALL SALES FINAL.
ALL MAJOR CREDIT
CARDS ACCEPTED.

Madeira Shopping
Plaza Store ONLY! °

Tel: 328-0703




PAGE 6, MONDAY, APRIL 18, 2005

THE TRIBUNE

ee a aaa eee eee eee

Author recalls slave
child experiences

TENDER NOTICE

COURIER SERVICE

The Bahamas Telecommunications Company Ltd. is
pleased to invite suitably qualified companies to tender
for Courier Services.

Interested companies can pick up a specification
document from BTC’s administration building on John

F. Kennedy Drive, between the hours of 9:00am to
5pm Monday through Friday. _

Tender must be sealed in an envelope marked “Tender
for Courier Services” and delivered to ned attention
of:-

Mr. Michael J. Symonette
President & CEO >
The Bahamas Telecommunication Company Ltd
| ~ P.O.Box N-3048
Nassau, Bahamas

Bids should reach th company’s administrative office
on John F. Kenedy Drive by 5pm on Ne April
27, 2005. |



BTC reserves the right to reject any or all tenders.

@ By DENISE MAYCOCK
Tribune Freeport Reporter

FREEPORT - Haitian author
Jean Robert Cadet, whose book
Restavec draws attention to child
slavery in Haiti, has been telling
Bahamian students about his
own experiences as a slave child.

Mr Cadet, who seeks eradica-
tion of the problem through
international pressure, was the

‘ special guest of honour at a lun-

cheon hosted by Mrs Frances
Singer Hayward on behalf of the

- Ministry of Education’s Book

Club for students of Jack Hay-

ward High School.

Mrs Hayward, the school’s
patron, has teamed up with Min-
ister of Education Alfred Sears in
launching a nationwide Minis-
ter’s Book Club to promote read-
ing among students throughout
schools in the country.

Mr Cadet was honoured that
his book was selected by the
Minister’s Book@Club.

At the lunch, students of Hait-
ian heritage sang the Haitian
national anthem and performed
a musical selection in French for
Mr Cadet, who was very moved
by the performances.

Significant

Patricia Collins, deputy direc-
tor of the Ministry of Education,
spoke on behalf of Mr Sears. She

. commended Mrs Hayward for

her significant financial contri-
bution to the Ministry’ s Book
Club. ~

Speaking at the luncheon, Mr
Cadet reported that 80 per cent

of the Haitian population is illit-

erate..

He noted that 400,000 children
in Haiti today are still denied an
education because they are sub-
jected to live as slaves under very
oppressive conditions.

Mr Cadet is leading a person-
al crusade of international aware-
ness of ‘restavec’ children in

_ Haiti.
He noted that children i in the

Bahamas are very forturiate.’
“This is my third trip to the

Bahamas and I feel over-

whelmed each time I come here.



Atlantis, Crystal Court
- Paradise Island

Solomon's Mines
Flagship Store
Bay Street







M@ MRS FRANCES SINGER-HAYWARD sreies Haitian
author Jean Robert Cadet with an authentic Bahamian fig-
urine. Mr Cadet’s book, Restavec, was selected by the Ministry

of Education’s. Book Club.

And when I listened to the
Bahamian young women singing
the Haitian national anthem in
French, it brought tears to the
eyes,” said Mr Cadet.

He explained that as a’

‘restavec’ child in Haiti he never
learned the Haitian national
anthem and was never allowed
to attend school on a regular
basis.

Despite his extraordinary
struggles, Mr Cadet made his
way to the United States where
he obtained a college education.
Over the past six years, he has
been travelling on speaking
engagements raising awareness
of the secret plight of children in
Haiti.

In addition to speaking at
many colleges and university, Mr
Cadet has also spoken to vari-
ous international organisations,
including the United Nations,
UNICEF, and Amnesty Inter-
national.

Although Article 32 of the
Haitian Constitution states that
school is “mandatory for every
child at government expense, Mr









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Cadet said it is not enforced.
“We have 300,000 to 400,000
children that are in slavery in
Haiti. They are abused, beaten,
mistreated and denied an vedu-_

‘cation.

Free ,

“This is why I have taken the
task of trying to free and elimi-
nate this restavec situation. I
hope that by exposing this to:the
world, it would put enough pres-
sure on Haiti that the govern-
ment will say enough is enough
and stop the restavec ‘situation °
so every child can.go to school,’ ”
he. said.

Mr Cadet stressed that Haiti
will never get-off the ground as a
nation if its children are denied

their fundamental right to an

education.
“The roots of democracy. will
not grow until you have an edu-

. cated group of people to make

sure that it is going to happen.
Without.an education you are,
not going to have a stable gov-
ernment,” he said.





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THE TRIBUNE

MONDAY, APRIL 18, 2005, PAGE 7





700,000 in donations for Queen’s



College campus development scheme

‘GENEROUS donations
from a group of old scholars
have got the Queen’s Col-
lege campus development
scheme off to a $700,000
start.

“Six “old boys” and one
former female student have
given $100,000 each to help
QC continue providing first-
class education through the
21st century.

The Queen's College
Foundation announced
$700,000 in donations from
seven distinguished old
scholars, launching QC’s

Campus Development Cam- -

paign.

“We are grateful to dis-
tinguished alumni of
Queen's College who have
come together to demon-
strate support of their
school and to launch the
Queen's College Campus
Development campaign
with a new Early Learning
Centre as part of Phase
One,” said Mr Dion Stra-
chan, deputy chairman of
the Queen's College Foun-
dation.

Donor

Sir Durward Knowles
(Class of 1934) and chair-
man of the Queen's College
Foundation, himself a donor
of $100,000, introduced oth-
er former QC scholars who
have also each donated
$100,000.

They are Captain Geof-
frey Brown, (Class of 1945),
trustee of Queen's College,
member of the board of
governors, trustee, the
Queen's College Founda-
tion; Sir Geoffrey John-
stone, (Class of 1944),
trustee of the Queen's Col-
lege Foundation; Mr John

Morley; (Class of 1947); Mr

Bs



# PICTURED following the ceremony during which the donations were made to the Queen’s College Foundation are: from



left Mr Dion Strachan, deputy chairman, QC Foundation; Sir Durward Knowles, Sir Geoffrey Johnstone, Mr Mark Munnines;
foundation treasurer, Miss Andrea Gibson, Queen’s College principal.

George Mosko, (Class of
1943); Mr Godfrey Kelly,
(Class of 1945). Mrs Betty
Kenning has made a similar
donation.

Mr Strachan added: "With
their help, we are creating
at Queen's College a sense
of place, a community of
learning for our aspiring
youth."

He added: "This is the

first step in.the Campus
Development Campaign.
Queen's College has a leg-
endary past, but an even
more glorious future.

“The time has come to
renovate Queen's College
for the students of the 21st
Century."

Ms Andrea Gibson, prin-
cipal. of Queen's College,
said: 1] nh (nen s pCollegs,

Pers

tats



(P.S. News/Features Photo By Keith Parker)

Foundation values the con-
tributions of old scholars
and friends of OC as they
continue to support the
vision of Queen's College.

Children

“These donations serve as
the first step towards the
building of the Early Learn-
ing Centre for children aged

2005 Lecture Series
Schedule

May 26, 2005
Senior Health

June 16, 2005
Men’s Health

July 21, 2005
Arthritis
Hin & Knee Replacement

August 18, 2005
Mental Health
Alzheimer’s Disease

September 15, 2005
Children’s Health

October 20, 2005
Cancer Awareness Month

November 17, 2005
Diabetes Awareness Month

December 15, 2005
Managing Stress &
Depression .

Time:

Astr. azeneca 2

Call 302-4707

three to five. We are look-
ing forward to a purpose-
built facility which will ben-
efit the littlest scholars," she
said.

Sit Durward, in a humor-
ous address, noted:
"Although I was no great
scholar, whatever education
I received can be credited
to Queen's College.

“My accomplishments as

an Olympic and world
champion sailor have made
mame well-known,
which is probably why I was
invited to chair this founda-
tion."

Sir Durward pledged: "As
Queen's College celebrates
its 115th year, these old
scholars recognise the role
that QC has played in
developing this nation.

“We are proud to invest
in its future.

“The Queen's College
Foundation welcomes all
old scholars and urges them
to play a part in the devel-
opment of Queen's Col-
lege’s sound investment in
the future."

Contribute

In turn, other $100,000
donors spoke briefly and
reminisced about their stu-
dent days at Queen's Col-

lege. "This is why we want
. to contribute to the founda-

tion, to ensure that the stu-
dents of today, in turn, will
achieve success and bring
credit to themselves, their
families, Queen's College
and the Bahamas,” noted
Capt Geoffrey Brown. _
Mrs Kenris Carey, presi-
dent of the Bahamas Con-
ference of the Methodist
Church and chairman of the
Queen's College Board of '
Governors, pronounced the
blessing and led a special
prayer for donor Mr John
Morley, who was unable to
be present due to illness.
Anyone, particularly old

scholars, wishing to make

donations, large or small,
are asked to note the appeal
slogan “Remember, Recon-
nect, Rebuild” and phone
394- 6389 or visit the web-
site.

FREE Health Lecture April

Speaker:
Topic:

Date:

Venue: :
Q&A:
RSVP:

6:00pm - 7:30pm

Dr. Judson Eneas, Nephrologist
Hypertension: The Silent Killer Exposed!

Thursday, April 21st, 2005

Doctors Hospital Conference Room
Question and Answer Session to follow lecture.
To ensure available seating.

- Screenings: Free Blood Pressure, Cholesterol, and Glucose _

screenings to the first 10 persons to sign up.

Please join us as our guest every month for this scintillating
series of the most relevant health issues affecting society

today.

Refreshments will be provided.

For more information

*| DOCTORS HOSPITAL

Health For Life


PAGE 8, MONDAY, APRIL 18, 2005 | THE TRIBUNE.
LOCAL NEW

By sea or by air — crowds turn
out for yacht and jet show

M@ This sleek plane
drew the crowds...















CROWDS took the chance to explore some
of the world’s most luxurious boats at the week-
end for the three-day International Yacht and ;
Jet Show at the Hurricane Hole Marina. ;

There was alsothe opportunity to check out
the latest in private aviatio, as well as a few
old classics.




BB ...but there was still

room for this old warhorse (Photos: Mario Duncanson/

Tribune staff



@ INSIDE a modern jet



ad

nstruction Manager

pment Co





Nad

POSITION Develo
REPORTS TO: Vice President of Development



ESSENTIAL FUNCTION: 5
Plans, directs, and coordinates activities of designated projects to ensure that goals and objectives of

the development are accomplished within prescribed time frame and funding parameters by perform-
ing the following duties personally or through subordinate supervisors. Manage the construction of
assigned project site improvements including amenities on-site and off-site infrastructure construction.

DUTIES & RESPONSIBLITIES:
FE} Manage and assist the design team in reviewing construction plans, suggesting cost and time
saving methods, and improving construction coordination and equipment utilization.

[1 Manage and assist the design team in expediting subdivision approvals and other permits.

(J Prepare field reports, status reports, incident reports, construction schedules and other information
requested. :

&) Assist in the bidding and negotiation of construction contracts with general contractors.
E}] Administer the construction contracts and changes thereto, protecting Project's interest at all times.

E] Establish good working relationships with governmental inspectors, the design team and general
contractors.

E] iMenitar avi sonseustion costs during construction and suggest ways to avoid unnecessary costs.
E] Provide construction quality control, through regular monitoring of construction.

E} Participate in meetings with developer and design team as requested.

f Establish work plan for staff and contractors

E] Direct and coordinate activities of project personnel contractors to ensure project progresses on
schedule and within prescribed budget.

El Review status reports prepared by project contractors and modifies schedules or plans as required.
EG) Prepare project reports for owners, management, and others.

&] Coordinate project activities with activities of government regulatory or other governmental
agencies.



Bahamians only, please send applications and resumes by mail or email to:



Port Lucaya, Freeport
Douglas A Shipman mon’s Mines, Mall At Marathon
- V.P. of Development, Discovery Land -
Bakers Bay Golf and Ocean Club
Great Guana Cay, Bahamas

dshipman@discoverylandco.com

Deadline for Receipt of Applications is April 27, 2005



A COS social wark class, te AIDS Foundation, the Road Tratiie Department
and the Public Transit Authority join forces to break down the stigma of
HVIAIDS and promote sata sex, See page SC of tomorrow's Tribuns.


ie eae MONDAY, APRIL 18, 2005, PAGE 9
7% Moyer VM ee oo










@ Organiser Peter Bryant
speaking at the event





@ AN

exhibitor . 2 eee a i One of the
relaxing _ ; larger ships on
on deck display, Happy

Day



@ Modern
yachts are
filled with
state-of-the-art
technology



Brake Service * Suspension & Alonment * Exhaust
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Open: Monday - Saturday
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#

PAGE 10, MONDAY, APRIL 18, 2005

THE TRIBUNE





‘US passport requirements ©
will affect Caribbean tourism’

t& By SIR RONALD
SANDERS

(The writer is a former
Caribbean diplomat, now cor-
porate executive, who publishes
widely on Small States in the
global community).

FOR years United States cit-
izens have travelled into and
out of the Caribbean with no
more identification documents
than a driver’s licence. This will
change between now and Jan-
uary 1, 2008, and will have an
adverse impact on the regional
tourism industry.

It is the US government that
is making the change, requiring
all US citizens to have valid
passports to enter the US. Con-
sequently, they must have pass-
ports to travel out of the US.

Secure

On April 6th, the US
Departments of Homeland
Security and State announced
“The Western Hemisphere
Travel Initiative to secure and
expedite travel”. Under the ini-
tiative all U.S. citizens, will be
required to have a passport or
“other accepted secure docu-
ment” to enter or re-enter
United States by January 1,
2008.

In the past, Caribbean
nationals have been irritated
by the US requirement that
they must have passports and
visas to enter the US, while US
nationals enter Caribbean
countries on driver’s licences.

After 9/11, Caribbean and
other non-US travellers
became even more irritated
with travel into the US when
the US Department of Home-
land Security required visitors
to be fingerprinted and pho-

tographs taken of their eyeballs

at US ports of entry. Many
people saw this both as an
intrusion on their privacy and

as a humiliation.

This feeling was exacerbat-
ed by the fact that US citizens
were whisked through immi-
gration lines while visitors
endured lengthy periods wait-
ing in line to be interviewed by
immigration officers.

Caribbean nationals have
regarded the different treat-
ment accorded to them and to
US nationals as a double stan-
dard. They have recognized the
right of the US and any other
country to apply its own immi-
gration procedures, but they
have argued that these proce-
dures should be reciprocal.

In other words, if the US
required Caribbean nationals
to be in possession of passports
and visas to enter the US,
Caribbean countries should
equally require US nationals
to have passports and visas to
enter Caribbean countries.

But economic necessity won
the day over the personal
affront felt by Caribbean
nationals.

Caribbean tourism relies a
great deal on US tourists, and
since the vast majority of
Americans do not have a pass-
port and cannot be bothered
to get one, Caribbean govern-
ments were content to allow
them to enter their countries
on driver’s licences.

Now, all of this has begun to
change.

- Whisked

Anyone travelling into the
US recently would have
noticed that US citizens are no
longer being whisked through
immigration control at US
ports of entry. Now, US citi-
zens and residents are being
questioned as closely as for-
eigners although their finger-
prints are not yet being taken
nor are their eyeballs being
photographed.

The lines for US citizens and









mi RONALD SANDERS

residents at US immigration
control are now as long as
those for foreigners. .

All of this flows from the
extensive efforts by various
departments of the US gov-
ernment to strengthen home-
land security following the ter-
rorist atrocities of.9/11.

The Intelligence Reform and
Terrorism Prevention Act of
2004 (IRTPA, also known as
the 9/11 Intelligence Bill),
signed into law on December
17, 2004, mandated that the
Secretary of Homeland Secu-
rity, in consultation with the
Secretary of State, develop and
implement a plan to require
U.S. citizens and foreign
nationals to present a passport,
or other secure document when
entering the United States.

An official release from the
US Department for Homeland
Security quotes Acting Under
Secretary for Border and
Transportation Security, Randy



Beardsworth, as saying: “Our
goal is to strengthen border
security and expedite entry into
the United States for U.S. citi-
zens and legitimate foreign vis-
itors. By ensuring that trav-
ellers possess secure docu-
ments, such as the passport,
Homeland Security will be able
to conduct more effective and
efficient interviews at our bor-
ders.”

The Department did say that
“additional documents are also
being examined to determine
their acceptability for
travel”. However, such docu-
ments would have to “estab-
lish the citizenship and identity
of the bearer, enable electron-
ic data verification and check-
ing, and include significant
security features”.

The point is that US citizens
and residents travelling on doc-
uments such’as drivers’ licences
is now fast becoming a thing
of the past, and the Caribbean
tourism industry will be affect-
ed by it. |

In part, this is because the
vast majority of Americans do
not have passports, and they
have not needed one to travel
to the Caribbean. They have
simply hopped on planes know-
ing that their drivers’ licence
or social security cards are
enough.

Assumption

There should not be an
assumption that US citizens
will now automatically apply
for passports.

The reality is that only a

comparative small number of
US citizens have passports, and
these are business people or
those with higher incomes who
travel on vacation to Europe,
Asia or countries outside of the
Western Hemisphere.

Under the new rules, a
Caribbean vacation cannot be
spontaneous. It will entail
Americans being in possession
of passports or similar docu-
ments.

This is a reality that the
tourism industry in the
Caribbean has‘to take account
of now.

Industry

The industry should not
expect the US public to know
about the requirement that
they have passports by Janu-
ary 1, 2008 even though this is a
stipulation of their own US
Department of Homeland
Security. It is surprising how
little public attention has been
given to this development by
mainstream media in the US.

A, programme of education
should be launched in the US
with travel agents and tour
operators. And, national and
regional tourist offices based
in the US should each start ini-
tiatives of their own to educate
the US public about the
requirement for passports and
how to get them.

Undoubtedly, organisations
such as the Caribbean Hotels
Association (CHA) and the
Caribbean Tourism Organisa-
tion (CTO) are alert to the
necessity to launch such an
education initiative in the
US. But, money will have to be
invested in the initiative from
both the national and regional
levels, and allocations should
be made for such monies now
for the years 2006 and 2007.

Failure to do so will see Jan-
uary 1, 2008 arrive with a sig-
nificant reduction in the num-

ber of US tourists visiting the
Caribbean. :

The educational task will be
difficult, but it is not impossi-
ble, particularly if it is present-
# exactly what it is: a US
iment requirement of its
itizens to strengthen the
itity arrangements of their
own country. eS

The problem is overcoming a
lifelong US habit of not need-
ing a passport to travel to the
Caribbean.

It may be argued that the US
government will educate its cit-
izens about the passport
requirements and there is-no
need for the Caribbean to do
so. But, accepting this argu-
ment would be dangerously
short-sighted. ;

The financial implications for
the Caribbean tourism indus-
try of spontaneous vacations
not occurring, or holidays being
cancelled for lack of a passport,
are quite significant.

Reduction

. There will be a reduction in
the numbers who visit the
region in the immediate period
after the new passport require-
ments are introduced on Janu-
ary 1, 2008; it will be worse if
the Caribbean does not launch
an educational programme of
its own in the US.

(responses _ to:ronald-
sanders29@hotmail.com)







© It was reported in Satur-
day’s Tribune that President
George Bush was surprised at
tew US passport policy and
dered a review of the
Speaking at the Ameri-
pociety of Newspaper Pub-
lishers on Thursday the Presi-
dent said: “If people have to
have a passport, it’s going to
disrupt the honest flow of traf-
fic. I think there’s some flexi-
bility in the law, and that’s what
we’re checking out right now.”





THE TRIBUNE . MONDAY, APRIL 18, 2005, PAGE 11

BED BATH & HOME

Home Sale

PU TVET |

Has

a



NOW ACCEPTING
_ SUNCARD
The Bohrorien Grad Cod
QUALITY RIGHTS AND PRICES RESERVED

SPECIALS GOOD:
BUsOe eye



ae
GROUND









MIS - CUT |

| CHICKEN
WINGS

U.S. CHOICE
rier

PER - LB




















Ru Irons
ugs La
Towels me Blenders
Sheet Sets) Bh | aos
FEET Table Cloths 5 ( 5 eS anes
Throw Pillows | é Wail Clocks
ok dee eae as Cookware Sets — Wall Pictures ||
Shower Curtains Glassware Sets Picture Frames |
| Bathroom Accessories Dinnerware Sets Flatware Sets

OFFERS GOOD MONDAY, 77st Bd SATURDAY, APRIL 23RD, 2005 _

Located: Harbour Bay Shopping Center
Ph: 393-4440 or 393-4448





ih priors a SEOUNTANAET

HOME SALE



MANGO ¢|ORANGES

CARNATION
EVAPORATED



EVERCANE PAR-EXCELLENCE



PARBOILED Car Mats Blinds Electric Tea Kettles
M AC ARONI Ironing Board Table Cloths Sheet Sets
| Rug Mattress Pads Comforters
: Be Cord Craf Flowers Feather Beds Throw Pillowers
A e144) Toys Shower Curtains
Coffeemakers Wall Pictures
239 (CEL LE] s
a rh 2 Evercdne SAR AIDS ccscroticiestatoesheaevtere $1.35 — Superalue Hand Towel ..cccsssscsssssssvessseeees 89¢
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__ SALE STARTS MONDAY, APRIL 18TH - SATURDAY, AP

Pav Less at Discount Mart

WE GIVE AND REDEEM QUALITY STAMPS

WE ACCEPT AMERICAN EXPRESS MASTER, VISA AND SUNCARD, WE ALSO REDEEM QUALITY STAMP CARDS
MACKEY STREET, TOP OF THE HILL (next to Super Value) PHONE: 393-3411/393-5569








RIL: 23RD, 2005

12-0Z 6- PK 7 25 SQ. FT.

FARINA ate $989 ; ihe


PAGE 12, MONDAY, APRIL 18, 2005

LOCAL NEWS

THE TRIBUNE





Bahamas real

_estate today
Q ‘Carmen Massoni

B@ TIME to sell your
home? You'll find there are
many considerations when
deciding on an asking price.
A real estate professional
provides you with informa-
tion regarding the current
market and what similar
homes are selling for (or not!)
in your area. However, the
agent won’t decide your ask-
ing price — the ultimate deter-
mination is yours.

Any responsible agent will
stress the importance of con-
dition — it’s an extremely sig-
nificant variable when buy-
ers compare your home
against others. Don’t be
tempted by what looks like
an easy way out — pricing
your home lower instead of .
making repairs.

You’ve heard it before —
“image is everything.” If your
home doesn’t look as good as
- or preferably better than -
the competition, you’re invit-
ing fewer or no offers. Buyers
look for the best value for
their money, and you need to
offer a home displaying
“pride of ownership.”

Take time now - before
you list — to tend to the most
important repairs. Prioritise
your repairs to maximise your
payback. Take care of the big
stuff first and then focus on
minor cosmetics.

History shows that buyers
offer $2 less for every $1 in
needed repairs, so simply
lowering the price yourself
instead of making improve-
ments will ultimately result
in disaster — either no offers
or offers so low you can’t
accept them. Take a profes-
sional’s advice — fix it now or
pay big later.



Government set to announce —
major development in Mayaguana

m By CARA BRENNEN
Tribune Staff Reporter

PRIME Minister Perry
Christie said the government
is set to announce a major
tourism and real estate devel-
opment on the island of Maya-
guna. ~
Mr Christie made the
announcement as he opened
the new Legislative Council
Chambers of the Turks and
Caicos Island on Friday and
pledged to foster stronger ties
between the countries.

He said the development is







FROM page one

part of his government’s plan
to place a major development
on each of the Family
Islands.

“Indeed, just to the north-
west of these lovely islands,
on the island of Mayaguana,
we are shortly to announce a
major touristic and real estate
development which will be
environmentally friendly and
which will forge linkages to
the islands around it, no doubt
including the Turks and
Caicos Islands.”

However, he said that no
matter what may be on the

Candy store
owner killed

trees lining the road.
The driver’s foot was severed in the acci-

developmental drawing board
“we, as a people, and espe-
cially those of us in positions
of public trust have a respon-
sibility to preserve and to pro-
tect our heritage for genera-
tions yet to come.”

He said this was a sacred
trust he was always concious
of and he had accepted “as
my duty to include such things
as the preservation of our his-
tory and our culture, our envi-
ronment and those things
which make us the unique
people that we are.’

Mr Christie travelled with

















people will keep getting killed.”

Many in the crowd which gathered at the
scene echoed her sentiments.

Mr Hanna said: “On behalf of the Com-
missioner of Police, Paul Farquharson,
and the entire Royal Bahamas Police Force,
I would like to extend my sympathy to
the Mortimer family at this very difficult
time.

“The Mortimers are a Bahamian institu-
tion and we feel the pain the family is feel-
ing. I am hopeful that the investigation will
be concluded quickly.”

Two persons remain in Princess Margaret
Hospital after a man, yet to be identified,
lost control of his vehicle on Sir Milo But-
ler Highway on Thursday and crashed into

dent. Police say speed was definitely a fac-
tor in that crash.

On Friday, 44-year-old Patricia Fox of
Mitchell Street, Adelaide Village, died
when she lost control of her pick-up truck
and crashed into a utility pole on
Carmichael Road.

Noting the carnage on New Providence
roads over the last week, Mr Hanna said:
“We have been sending out advisories
against speeding and operating in a manner
likely to be deemed dangerous to the pub-
lic.

“And we continue to advise pedestrians
to be careful when crossing the streets. As
the old caution goes, look right, then left,
then right again.”





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Obie Wilchcombe, Minister
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FROM page one

she said.
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Wednesday night.

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Family remembers

ness and his presence at the store made a difference.
“Sometimes he would walk in the store and persons would
reminisce with him. He loved the candy business - it was his life,”

His daughter told The Tribune that her fondest memories of
her father are of him playing with his grandchildren and taking

She also remembers him sitting around the table talking with
his lodge brothers, who usually came to their home every

Mr Mortimer is survived by his wife of 53 years, Gloria, eight
children and adopted daughters.

Affairs, and Keod Smith, the
Ambassador for the Environ-
ment. Mr Wilchcombe and Mr
Smith both have Turks Island
roots.






















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Fats

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ae
MONDAY, APRIL 18, 2005, PAGE Be

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oth erormance Gs il

THE TRIBUNE





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eek. TNE ee | ST ‘wines or_| TURKEY
> 4 ae > 4 ae | ASSORTED oe mets aanuone | et FRA NKS






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AND BLACK GREEN ©
$4 99 -_59¢

| || MEATBALLS 15-02 sssssessesssos:
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CHEF BOY ARDEE
SPAGHETTI &





























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Go inane ~ | PIES ASSORTED 11.5 - 02 sresnneeees .69 | || CUTUP BONE IN CHOICE BONELESS TWIN PACK

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' UNSALTED Say7 oo MUTTON CHUCK ROAST | GAME HENS |

2/$q4 69 | soz JAMMERS VARIETY 99 || |
| es CRESCENT, | JUICES 076-02 -ecencsessonore as 1 |
ae ASSTD PUNCHES ROLLS SCT |
vee, Sse

er ETT Sees is 7 MALTS = 6-PAK 7: oz SS Se oe 8







MA JE LIBERTY
| PRE MAD
ASSORTED BAGELS AMERICAN CHEESE























DE Bode ks ids dn2 | |HELLMANS | bs
PEPPERIDGE GREEN GIANT
, cAnm Aveo a ON THE or | MIAVYONNAISE 64-02 .....ssnessnasssnnens | | 2/3500 | wD LB
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| CHICKEN NOODLE & | | ULTRA TRIM, RICE LONG FLAKES CHIPS ASSORTED
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10-0Z eae SE lt §-LBS 1-02 7-OZ,
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POWER BUYS (Si POWER BUYS POWER BUYS P' YS POWER BUYSE















































CADBURY CLOROX LYONS GAIN
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POWER BUYS — Pt POWER BUYS[j POWER BUYS POWER BUYS I POWER BUYS EI
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neem | RICH TEA | |PEANUT || HEARTVLOIF | | FABRIC.
aeNoae BISCUIT | |BUTTER | |“HCKD0GF00D| | assorreD
33 - OZ 300 -G. _ 42-02. 13.2 - 02 500 - ML
$499 $4909) $925 2/$ @ 89) | 2/$400
PAGE 14, MONDAY, APRIL 18, 2005 oa THE TRIBUNE

INTERNATIONAL NEWS

Representative hopes to persuade

re to come to the US

Haitian, eairighted Materae US
= ~. Syndicated Content.

Available from Commercial News Providers”



















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a oe oot ee ee

TENDER NOTICE






The Bahamas Telecommiunieaons: Company Ltd.,
wishes to invite tenders for the construction of its —
Customer Service Building in Simms, Long Island.




Interested companies may collect’ a tender specification
from the office of the Vice President/Planning &
Engineering in BTC’s administrative building on John
F. Kennedy Drive or at BTC’s office in Deadman’s Cay,
Long Island, between the hours of 9:00 am and 5:00
pm, Monday through Friday.








Tenders are to be in a sealed envelope marked
“TENDER FOR CUSTOMER SERVICE BUILDING” and
delivered to the attention of:





Mr. Michael J. Symonette

President & CEO

- Bahamas Telecommunications Company Limited
John F. Kennedy Drive

Nassau, Bahamas






All tenders must be received by! 5: 00 pm on Monday,
May 2, 2005. Tenders received after this date will not
be considered.




ner fie ee . ae



Located on a top-oftheill eon Sires, next doer to ce ae

DANCES Ee EU Maer arg Ie
pee) eRe ul Fam-Spm (Sat) :




BTC reserves the right to reject any or all tenders.


MONDAY, APRIL 18, 2005, PAGE 15

THE TRIBUNE



steady, focused .

With 40 continuous years of insurance expertise,
stability and financial strength, we’re proud to be |
the choice of Bahamians setting sail on the sea of life.








a)
AL a i 5 SUR Ba Sou as a
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CSE : on ‘ ARE aE a
ae Se a : Ee ee Ee Sos
a |. .








INSURANCE
COMPAN Y

aaa

a

se Sy




PAGE 16, MONDAY, APRIL 18, 2005 THE TRIBUNE

RE ad ESP ATH

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THE TRIBUNE MONDAY, APRIL 18, 2005, PAGE 17

College

of the
Bahamas
sraduate
gives back

ONE of the greatest
moments in a college/univer-
sity student career is-gradua-
tion. It signifies the success-
ful end to one journey and
anxious hopes for another.
However, for that
college/university, one of its
greatest moments is when
those graduates return to
their alma mater in an effort
to further enhance and
develop the institution.

_ Ken Coleby, a 1985 gradu-
ate of the College of the
Bahamas, is creating one of
those moments for the Col-
lege of the Bahamas. Today,
for the seventh consecutive
‘year, Mr Coleby and his col-
leagues are donating monies
that would assist young
musicians.

Concert

- In 1997, the Friends of
COB’s Music Department,
established a concert “An
Evening of Classical Music”,
the funds of which are ear-
marked for the development
of a music student or the
music department at the Col-
lege of the Bahamas. The
group has since expanded
and is now known as Artist
Guild International.
«. A music teacher at Gov-
ernment High School, Mr
Coleby, launched the award
seven years ago. As a former
student, Mr Coleby under-
Stands the importance of
financial assistance to an
aspiring musician and the
continuous need for equip-
ment upgrade.
« “When the idea of the con-
cert was conceived, it was
solely intended to raise funds
to assist students with pursu-
ing their degrees,” said Mr
Coleby.
5 e
Music

“But we’ve since indicated
that if the music department
has a need for a piece of
equipment or instrument to
further enhance its pro-
gramme, then certainly we
want them to do that as
well.”
. This year’s concert was
held on March 17th at Gov-
ernment House and featured
musical talents from the high
schools, the College of the
Bahamas and local profes-
sionals.
. .Head of COB’s Music
Department Pauline Glasby
said that in addition to pro-
viding young persons with
opportunities to pursue ter-

_ tiary education and expose
their musical talents, the
group of musicians, headed
by Mr Coleby, ought to be
commended for their efforts.

“They too are young musi-
cians,” noted Mrs Glasby. wal
“So for them to have the ban ;
foresight to produce a con- ; Kis = Bees gaia thas oie Mae ame mere EG 8
cert with the benefactors , eee Ba aN aa : a
being young persons, who cp jae S
want to pursue music as a “ ‘ net MES) go ey See
career, is highly commend- : oe
able. We will certainly = z ft.
endeavour to support them ie , bee
with their undertakings.”









Mercedes-Benz - a brand from DaimlerChrysler. : A few of the accessories are not included in'the series-version. - .





a Mage i Ht ina i aWitde

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The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps - wheel and appreciate the incredible view. certainly the best option. You’ll see how hard

you are raising funds for a
good cause, campaigning This is the perfect place to contemplate the __it is to get out of it. To find out which dealer . Mercedes-Benz

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for improvements in the

; area or have won an cSC-01
award. Tyreflex Star Motors, Ltd.

If so, call us on 322-1986 . Nassau — Tel. (242) 325-4961
and share your story. |




PAGE 18, MONDAY, APRIL 18, 2005

THE TRIBUNE








Vee sel Daligpsise! Io:
wi Soe Sour Coil}

Gregory A. Sweeting —
President & CEO

I. Chester Cooper
Senior Vice President & COO











LOCAL NEWS

Breezes in the
MIX with US



radio station

OHIO-based radio station
MIX 96.7 WBVI recently
broadcasted live from the
pool deck at SuperClubs
Breezes Bahamas.

Tom and.Beth, the sta-
tion’s morning show per-
sonalities, brought a group
of come-along group of 38
persons. WBVI is one.of the
top hot-adult: seo Tats SY

peeseeys
AMER TV ON

(Hot AC) stations in the
Findley area and Tom Sum-
mers and Beth Wilson are
the hottest morning show
duo in their county and sur-
rounding counties. During
their broadcast, which pro-
moted the-islands of the
Bahamas and the Super-
Clubs-brand, they inter-
viewed Vernice: Walkine,

deputy director of tourism
for the islands of the
Bahamas; Kendal Major,
senior public relations man-
ager, Bahamas News
Bureau; and Jaton Johnson,
public relations coordina-
tor, SuperClubs Breezes
Bahamas. Pictured are

“Beth; Walkine, Tom, and
“Johnson. @

2 Mr Sweeting t to develop strategies and the achievement of el company i
annual targets. The Board of Directors has requested that Mr Sweeting act
in the capacity of Resident Director while continuing as President and CEO
at this time.

“In this unique environment, Mr. Cooper has a challenge ahead of him.
He assumes operational responsibility for a strong company with roots
that go deeply into the fabric of our Bahamian society. We expect to see
him take the company to new levels of success in the future.” said Mr
Sweeting i in releasing this announcement.

Established 1920

A strong link in your financial future


THE TRIBUNE MONDAY, APRIL 18, a PAGE 19



INTERNATIONAL NEWS

Excitement builds ahead of
secret vote for the next pope









ak

Copyrighted Materialâ„¢
(Syndicated, Content

Available from’Comme Commercial ‘News Providers”
?










were wel!







Montrose Avenue
Tel: (242) 322-1139
Website: www.saintgeorgesbahamas.com
“Sharing The Gospel, Living The Ministry”

GOOD NEWS, SHARE IT

| St. George’s An nglican Church

join St. George’s Anglican Church Family
Celebrates its 56th Patronal Festival

Good News Service nightly at 7:00 pm
Tuesday 19th - Thursday 21st, April,.2005
Missioner: Fr. Atma Budhu
Rector: St. Gregory’s |

Theme: .
“Evangelism through —
MISSION, LITURGY, MINISTRY”

OVERSEAS POSITIONS

Exciting opportunities to work in a fast growing Fund Administration Company in |
. Southern Europe. Gain Int’] experience and enjoy lifestyle of Spain and the
professional work ethic of England by working in Gibraltar.

Position: FINANCIAL/ FUND ACCOUNTANT

¢ Experience in Fund Accounting/ Administration covering umbrella funds,
fund-of-funds, hedge funds, real estate funds etc.

¢ Preparation of weekly Financial statements

° Assist in setting up operational procedures and financial accts for new
funds and for future offices to open worldwide.

¢ NAV calculations (daily, weekly, mthly) to include downloading of trades,
price validation, liaising with brokers and custodians

¢ Preparation of audit packs

¢ Liaising with FSC on financial statements and FSC reports

¢ Must be willing to relocate for a minimum period of two years

Ideal candidate will be professional, proactive, well organized, with ability

to manage other employees. Accounting qualifications req’d. Salary

commensurate with experience.

Mass, Holy Eucharist
Sunday, 24th April, 2005 ¢ 9:00 am
Guest Preacher:

Fr. Ernest Pratt, Rector
Companion Parish of St. Paul’s,
Long Island



Service of Thanksgiving Procession,
Benediction & Fellowship
Sunday, 24th April, 2005 ¢ 3:30 pm
Guest Preacher: Canon Harry Bain
Rector, Pro - Cathedral,
Christ The King Parish
Freeport, Grand Bahama




Position: CORPORATE LAWYER





e Will work for an established law firm in growing offshore jurisdiction
* At least three years experience in the Fund Industry

¢ Must be willing to relocate for a minimum period of two years

¢ Must be English Qualified

e Salary commensurate with experience




All interested applicants please forward resume by e-mail to: accountsgib@yahoo.com Le Family Entertainment ~ Faniily Meditations

Featuring “Da bes’ Talent in Da Valley”. — Saturday, 23rd April 9:00 am
Resumes must be received by April 29th 2005 J i eee ee April, 7:00 pm BV CLUEY COLL 8 CILLKY


PAGE 20, MONDAY, APRIL 18, 2005 . _ THE TRIBUNE
INTERNATIONAL NEWS

Spaceship carrying U.S.-Russian crew and —
Italian docks at international space station —





-



t+ ante em ~
' ghee re

a
a
NN
“ANSBACHER

2. ao ~ ANSBACHER (BAHAMAS) LIMITED.
TENDER FOR GSM CONTENT SERVICES : : ae

Ansbacher in The Bahamas invites applications from
qualified individuals for the position of:

INVESTMENT ADMINISTRATOR

' The Bahamas Telecommunications Company Ltd. (BTC) is seeking suitably
qualified companies to submit tenders to provide the company with GSM
Content Services. ; Cae

. The successful applicant will report to the Head of Investment Services and:
will be expected to assist Trust Officers in fulfilling their fiduciary obligations
with regard to monitoring quoted investments and tracking their performance | |
against agreed benchmarks.

Please note that companies must fully meet all pre-qualification specifications
prior to obtaining the actual tender document. The pre-qualification
specifications are listed below:

1) Company profile of tenderer (overview of company, company
background, number of years in operation, listing of present and
past clients including contact information). :

_2) Company must be 100% Bahamian owned.

3) Company ownership (listing of principal/beneficial owners,

. directors and operators of company. If.a joint venture, specify
participants and terms of joint venture).

4) Full liability insurance of $1, 000,000.00.

5) Acopy of valid business license.

6) Copy of National Insurance certificate.

7) Total number of employees.

8) Three written references from persons/businesses for which
similar contracts were successfully completed within the last
three years and the Company must provide references from
current clients utilizing their content services.

9) Bank reference showing financial viability.

10) Copies of financial statements (audited/unaudited) for last three
years of operation.

11) Company must have provided Content services for a period of

3 to 5 years. .

12) Company must be able to provide local and international (North —

America, Caribbean and the U.K) content.

Essential Required Attributes: ©
** Strong analytical skills
*= Understanding of basic investment management and capital markets
** Good communication skills, verbal and written |
** Team player with proven ability to contribute to the overall success of

_ investment risk management
*= Computer literate in Microsoft Office; particularly in the use of Excel

spreadsheets, Bloomberg proficiency and database skills.
\

Primary Responsibilities:
** Assist witn the preparation of Trustee Investment Policy Statements and.
~~ »~the setting of appropriate performance benchmarks.

** Undertake investment performance reviews by sourcing relevant information
from trustees, valuations, internal and external managers and comparing
the results to the agreed benchmark and providing the results of such
reviews to the Head of Investments and the Trust Officers.

“ Ensure receipt of and collate quarterly performance and transactional
documentation from 3rd party investment managers.

= Update and maintain client ledgers to reflect transactions over 3rd party
investment accounts.

** Ensure that all 3rd party investment business activities are monitored in

Pre-qualification items must be submitted in sealed envelopes marked “ al es'
accordance with Group policies and procedures.

PRE-QUALIFICATION INFORMATION FOR GSM CONTENT
SERVICES “, and delivered on or before 4:00 pm. on April 28, 2005 to

the attention of: _ * Keep abreast of entire Ansbacher service offering, and in conjunction with

the Head of Investments, give feedback and recommendations to Trust

Mr. Michael J. Symonette Officers.

President & CEO

The Bahamas Telecommunications Co. Ltd.
#21 John F. Kennedy Drive

P.O. Box N-3048

Nassau, The Bahamas

Series 7 certification and evidence of continued professional development
would be an advantage.

Contact:

Human Resource manager
Ansbacher (Bahamas) Limited
P. O. Box N-7768

Nassau, Bahamas

Fax: 325-0524

BTC reserves the right to reject any or ail tenders.


THE TRIBUNE

MONDAY EVENING ~ APRIL 18, 2005

P| 7:30 | 8:00 | 8:30 | 9:00 | 9:30 | 10:00 | 10:30

: NETWORK CHANNELS
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MONDAY, APRIL 18, 2005, PAGE 21.

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JHE TRIBUNE



Baker’ $ Bay Club on Great Guana Cay, The
Abacos aims to be the most environmen-
tally sensitive development of its kind
ever undertaken in The Bahamas. Key
aspects of the project include:



1, The land plan for the project was de ed.with
input from key stake holders including local gav-
ernment, the Member of Parliament, the former
Prime Minister, the Out Island Council and in con-
gultation with Guana Cay residents through a Town
Meeting on Guana Cay an August 20, 2004, Further
refinement will continue through additional dia-
logue on island and throughout The Abacos,



2, The Baker's Bay Community is appropriately
sized with fewer than 400 residences on 585 acres
and over 50% of the property is open space, Other
developed areas of Guana, Elbow and Green Turtle
Cays have twice as many houses per acre; other
parts of The Bahamas have three tintes as many
houses per acre,



3. Over 6 miles of shoreline are preserved with
residential structures set back more than 30 feet
from the high water mark, providing open beach .
access to all Bahamians. Individual docks from
each homesite will not be permitted which will
preserve the appearance of the shoreline.

4, The project will eliminate over 100 potential
dock structures and restore sand dunes thereby.
increasing and preserving turtle habitats.

5.49% of all leased crown lands are being placed
into a Preserve for use by all Bahamians and will be
managed by a foundation spearheaded by the

~- Bahamas National Trust. -

6. The tropical links style golf course is being
designed to the highest international standards
with environmentally friendly grasses and a closed
drainage system. This system, along with native
shoreline buffers, will dramatically reduce fertilizer
deposits into the ocean and mangrove areas,









i Protection
tit ¢ andards
4 CH it “Blue Flag"

gui elines



8, The Project will add an average of $150 millian
dollars per year inte the Bahamian economy includ-
ing government revenues derived from taxes, rev-
enue sharing and national insurance contributions.
A large portion of this figure will be allocated by

é ne naeven ment to othe local eee on







9, Baker's Bay will generate over 200 jobs during
construction and an additional 200 ongeing jobs
including jobs for accountants, lawyers, gardeners,
housekeepers, plumbers, electricians and more. The
project will rei ate opportunities | for entrepreneurial
ventures, including restaurants, shops, car rental
companies and others.

10. Over ten years the project should cause more
than $85 million in new wages to be paid and is
projected to generate over $1 Billion dollars of direct
and indirect goods and services for The Bahamas
including revenues for printing, publishing, enter-
tainment, transportation, food and beverage sup-
plies, sanitation services, chemicals, textiles, furniture
and equipment, landscaping and more.

11.All real estate commissions will be paid to Baha-

mian brokers and all private residences built will be.
subject to all taxes and duties.

12.State of the Art infrastructure systems will treat all
sewage fram residences and boats in the Marina.
Water systems and a solid waste transfer station will
be built at developers’ cost with potential access for
all residents of Guana Cay.

This project is being developed by Discovery Land
Company, a company with an extensive track record
of completing quality, environmentally responsible
projects throughout North America,



{ f



SECTION



business@100jamz.com

MONDAY, APRIL 18, 2005

Miami Herald Business, Stocks, Analysis, Wall Street



WN

RND ‘turns down’
largest investor's
request for EGM
TMT





in talks to
buy resort

@ By YOLANDA
DELEVEAUX
Senior Business Reporter

THE Hotel Corporation of
the Bahamas (BHC) is negoti-
ating with a US-based investor
for the sale of the Government-
owned Andros Lighthouse
Yacht Club and Marina, a
senior official told The Tribune
yesterday.

Dr Baltron Bethel, the Hotel
Corporation’s managing direc-
tor and deputy chairman, said it

was in negotiations for the sale
of the Lighthouse Club, a prop-
erty located in Fresh Creek,
Andros, that is said to have
been on the market for two
years. Talks are expected to
reach a conclusion shortly.

Dr Bethel declined to iden-
tify a completion date or a pur-
chase price, saying it was possi-
ble that matters could arise that
have to be negotiated as the two
entities move forward. The
Hotel Corporation has under
its management some 18,000

Doctors almost at
full health through -
ered KS S2.6m income

@ By NEIL HARTNELL
’ Tribune Business Editor

DOCTORS Hospital Health System (DHHS) showed it has
almost completed a recovery to full corporate health by more
than quadrupling net income for fiscal 2005 to $2.568 million, a
record-breaking result for the company on its 50th anniver-

sary.

The Bahamas International Securities Exchange (BISX) list-
ed company’s net income for the year ended on January 31,
2005, increased from $576,947 the previous year, driven large-
ly by a 10.5 per cent rise in total revenues.

acres of land in the Fresh Creek
area.

Dr Bethel, though, said
potential buyer was not Fortune
Real Estate Development Cor-
poration, a US based company
that claimed to have signed a
‘Letter of Intent’ to acquire 100

‘per cent of an entity called

Andros Isle Development Ltd.

According to a release from
Fortune, Andros Isle reported-
ly holds the exclusive rights to
develop a $250. million luxury
residential and resort commu-
nity on a 247-acre tract of
beach-front property in Andros,
which has been appraised at a
value of $49 million.

“Tt is the intention of both
parties to move to close the
transaction expeditiously. We
are hopeful that we will be able
to close this transaction [Fri-
day], as the majority share-
holders in both companies have
reached an agreement to move
forward," Simon Sands, presi-
dent of Andros Isle Develop-
ment Ltd, said in a statement.

Andros Isle is also unrelated
to the tourism-based project
proposed for Morgan's Bluff,
Hows Andros, by Bahamian

inessmen Garret “Tiger"
nlayson and Al Collie.

"SEE page three

@ By NEIL HARTNELL
Tribune Business Editor

TWO organisations repre-
senting Bahamian motor vehi-
cle dealers are at odds over
imposing age restrictions on
used Japanese vehicle imports,
with one urging the Govern-
ment to restrict cars more than
five years-old from coming
into the country, and the other
opting for “nothing older than
1994”,

In a letter to Leslie Miller,
minister of trade and industry,
the Bahamas Motor Dealers
Association (BMDA), which

‘| represents chiefly new car

dealers, said that on Japanese
used cars, the Government
should implement “an import
restriction for vehicles over
five years of age”.

It also backed the Bahamas
General Insurance Associa-
tion’s (BGIA) call for a used
vehicle classification system to
inform consumers about the
availability of replacement
body and engine parts for used
Japanese vehicles.

Class ‘A’ would be for cars
where “parts usually inter-
changeable”; Class ‘B’ for cars
where engine but not body
parts were usually available;
and Class ‘C’ for vehicles
where “there was no match
with other vehicles in the mar-
ket”.

But Larry Black, president
of the Bahamas New and Used
Car Dealers'and Suppliers of
Car-Accessories and Car Parts,
said in a-letter.to Mr: Miller



i EYE ON IMPORTS: Minister of
Trade & Industry Leslie Miller.

imports apart from medium to
. heavy commercial trucks.
Vehicles to come under the
suggested 1994 restriction, Mr

SEE page seven

that his Association was “only

able to support a position on

limiting the age of imports

to nothing older than 1994”.
This position, he. said,

applied to all used vehicle

DHHS said its full-year results reflected a “broad level of
increases in business volume”. The company’s average daily cen-
sus, which measures overall inpatient activity across depart-
ments, increased by 9 per cent upon fiscal 2004 - the highest per-
centage growth for five years.

Total admissions, DHHS said, increased by 14.4 per cent in
fiscal 2005 compared to the previous year, bucking the decline
in admissions over the past two fiscal periods.

It added that the average daily census also reflected the high-
est levels of Intensive Care Unit and Intermediate Care Unit
patient days for five years.

DHHS financial performance will look even better once it
completes the final step in its turnaround phase - the disposal of



© 2003 ADWORKS

SEE page eight

Brokers concerned
on capital and fees
in Bill regulations

& By NEIL HARTNELL
Tribune Business
Editor











THE Bahamas Insurance

Brokers Association

(BIBA) has expressed con-

cerns about the capital

requirements and fee struc-

_ ture proposed in the regu-
lations accompanying the
Domestic Insurance Bill,
fearing they may create bar-
riers to entry and impact
existing businesses because
the thresholds have been set
so high.

The Regulations for the
Bill, which is currently in the
Committee stage in the
House of Assembly, stipu-
late that the capitalisation
requirements for a Bahami-
an insurance broker be set
at $100,000. The capital
requirements for an agent
are $50,000 and, for a broker
and agent, the minimum is
$150,000.

Guilden Gilbert, BIBA’s

SEE page two






























Micron





#@ RICHARD COULSON,
managing director of
RC Capital Markets. .

Analyst challenges
environmentalists to
debate on LNG merits

@ By NEIL HARTNELL
Tribune Business Editor

A LEADING Bahamian
financial analyst has challenged
the environmental organisation,
reearth, to a public debate on
the merits of liquefied natural
gas (LNG), claiming the argu-
ments against these projects are

“misleading”.

Richard Coulson, managing

director.of RC Capital Markets,

SEE page eight



Since 1983

fie )










12 Village Road
Tel 242 502 6600 Fax 2423
56 Collins Avenue
Tel 242.502 9400 Fax 242 3:
www.colina.com

A Colina Financial Group® com

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PAGE 2B, MONDAY, APRIL 18, 2005

THE TRIBUNE





) MARKET WRAP



TRADING | volumes
picked up again over the
past week as more than
22,000 shares changed hands
in the Bahamian market.
The market saw seven out
of its 19 listed stocks trade,
of which two advanced, one
declined and four remained
unchanged.

The volume leader for the
week was Kerzner Interna-
tional’s BDR (KZLB) with
9,304 shares changing hands
and accounting for 42 per
cent of the total shares trad-
ed..

KZL ended the week at
$59.50 on the NYSE, which
is equivalent to $5.95 per
BDR. The big advancer for
the week was FINCO,

whose share price increased.

by $0.15 to close at a new
52-week high of $10.40.

@ COMPANY NEWS
FirstCaribbean
International Bank
(Bahamas) -

An excellent first quarter.
for FirstCaribbean, as the ©
~ QuickCell or GSM phone

bank posted net income of
$23.6 million, up $9.4 mil-

lion or 66 per cent over the.

comparable period last year.

Net interest income rose
by $8.8 million or 40.8 per
cent to total $30.6 million,

while non-interest income

declined slightly to total
$10.3 million. Non-interest









maintained.

and services.

Benefits include:




pension scheme.

i'm lovin’ it

Core responsibilities:

Knowledge, Skills and Abilities:

expenses increased by $1.4
million to total $15.8 mil-
lion, compared to $14.3 mil-
lion in 2004.

The recent increases in
US interest rates have
allowed FirstCaribbean to
increase the spread it earns
on its US$ portfolio. Since
the bank's year-end on
October 31, 2004, the Fed-
eral Reserve has raised
interest rates by 50 basis
points, and US economists
have anticipated even fur-
ther rate hikes going for-
ward.

If this scenario plays out,
we can expect to see even
further growth in the levels
of CIB interest income.

@ RND Holdings (RND) -
Officials of RND have

announced that the compa-

ny will be taking its Tick-

etXpress system to the .

island of Andros. This Inter-
net-based automated system
allows customers to book
their flights on Western Air,
purchase movie tickets, and

cards.

RND's management is
optimistic that the revenue
generated from this segment
of its business, while mod-

* est now, will have a greater

impact on its earnings in the
near future.
There is, however, one

VACANCY FOR THE POSITION OF
CREDIT OFFICER

e Prepare thorough credit proposal and maintain profitability
of assigned portfolio
¢ Interview loan applicants and make considered decisions
based on investigations and assigned lending authority
° Act as the “Relationship Manager” for assigned accounts by
ensuring that all of the customers needs are satisfied.
e Ensure all loans are granted in compliance with the Bank’s
‘ lending policies and guidelines.
_ ¢ Monitor and control loan portfolios to avoid delinquency.
_ © Perform constant follow-up on delinquent loan accounts.
¢ Ensure loan and security files.are completed and properly

e Constantly increase lending by AER eLnS the Bank’s ee

¢ Associates Degree in relevant area (e.g. Accounting/Business
Administration/Finance)

¢ Three to five years banking and lending experience

¢ Excellent interpersonal and communication skills

¢ Strong negotiation, analytical and organizational skills

-¢ Computer literate - Ability to use MS Word and Excel

Competitive salary commensurate with experience and qualifications;
_ Group Medical (includes dental and vision) and life insurance;

Interested persons should apply no later than April 22, 2005 to:

The Manager, Haman Resources & Training
Bank of The Bahamas International

P.O. Box N-7118
‘Nassau, Bahamas.

McCHICKEN
SANDWICH

major drawback to the Tick-
etXpress concept. Cus-
tomers cannot actually
“buy" online via a credit
card. They can only “book"
the product online and then
pay for it at another venue.
This issue will have to be
addressed if the concept is
to have any long-term sus-
tainable success.

INVESTORS .

TIP OF THE WEEK

Financial Planning for
your children.

Saving for your child/chil-
dren’s education -

Whether you choose pri-
vate or government educa-
tion, educating a child is one
of the largest expenses a
family faces.

What you can afford to
pay for education will obvi-
ously be a factor in your
choices of schools. In order
to give your child the best, it

_ is essential that you plan and

set money aside. Some star-
tling facts for you to consid-
er:

e The average Bahamian
parent does not save or put
funds aside to educate their
children.

e Many parents take out
loans or re-mortgage their
homes in order to pay for
their children's college
tuition. This course of action

Bank of The Ba ahaa

: INTERNATIONAL
“A growing and dynamic Bahamian instution”


























The Local Stock Market

FINDEX 435.63 YTD 1.321%









VOLUME YTD PRICE



BISX CLOSING CHANGE






















SYMBOL PRICE CHANGE
AML $0.95 $- 0 -13.64%
BAB $1.04 $- 500 8.33%
BBL $0.85 $- 0 0.00%
BOB $6.00 $- 0 4.35%
BPF $ 8.00 $- 0 0.00%
BSL $12.25 $- 0 -5.77%
BWL $1.45 $0.05 4200 -19.44%
CAB $8.23 $- 300 15.92%
CBL $8.35 $- 0 17.61%
CHL $2.20 ' $- 0 0.00%
CIB $7.75 $- 0 3.47%
DHS $1.50 $- 3415 0.00%
FAM $4.02 $ - 2700 : 1.52%
FCC $1.27 $ - 0 -36.18%
FCL $8.35 $ - 0 4.38%
FIN $10.40 $0.15 1800 7.22%
ICD | $9.50 $ - 0 -3.94%
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PRE $10.00 $ - 0 0.00%







DIVIDEND/AGM NOTES:
CBL has declared an ExtraordinaryDividend of $0.05 per
share payable on April 29, 2005 to all common shareholders
as at record on April 22, 2005.





International Markets










FOREX Rates INTERNATIONAL
WEEKLY %CHANGE STOCK

CAD$ 1.2463 1.46. MARKET

GBP 1.8913 = 0.31 NDEXES:

EUR: 1.2915 -0.12 WEEKLY %CHANGE

DJIA 10,087.51 -3.57

COMMODITIES S& P50 1,142.62 -3.27
WEEKLY %CHANGE NASDAQ 1,908.15 -4,56

Crude Oil $50.49 = -5.31 Nikkei 11,370.69 -4.24

Gold $426.50 -0.54 — aan





have to be funded by par-
ene

can result in the parents or >
the child paying for these.
loans long after graduation.
e The costs of private
school and college education
are rising every year.
According to a 2001 US Col-
lege Board report, the aver-
age cost of a four-year col-
lege education in a public
college is around $40,000,
while in a private college, it
is close to $100,000. Even a
government school educa-
tion is getting expensive, as
many of the required text-
books and school supplies

There is no disputing that
a college education can
immensely increase your

ing a competitive salary.
Now that you have formu-

child/children and know the
benefits of saving for their
education versus borrowing,
just how will these funds be
invested? We will answer
this question next week.

Legal Notice

FTF epees 3 tS Eire

. NOTICE

ae . f2iyes

BRANFORD INVESTMENT INC.

In Voluntary Liquidation

NOTICE is hereby given that in accordance with Section 137
(4) of the International Business Companies Act. 2000,
BRANFORD INVESTMENT INC., is in dissolution as of
April 14th, 2005.

International Liquidator Services Inc., situated at 35A Regent
Street, P.O. Box 1777, Belize City, Belize is the Liquidator.

LIQUIDATOR



Winpine Baw
HIBIELD, FINA

REAL ESTATE SALES REPRESENTATIVE

The Abaco Club on Winding Bay, a spectacular 520 acre
International Members Golf & Sporting Estate on Abaco, is
seeking a senior-level REAL ESTATE SALES
REPRESENTATIVE. Candidates must have a minimum of
2 years sales experience with a track record of success. Real
estate license is preferred but not required. Successful candidate
must have exceptional communication skills, both verbal and
written. Must be personable, professional and willing to
commute or relocate to Abaco. The Abaco Club’s estate lots
range from $1.5 million to over $4 million. A handsome
commission package is offered. Please email cover letter and
resume to info@theabacoclub.com or fax to 242-367-2930,
Attn.: Sales & Marketing.





child/children’s. chances of _
getting a good job and earn-.

lated a savings plan for your -



Brokers concerned
on capital and fees
in Bill regulations

FROM page one

president; said: “The biggest

concern for us is the capital

requirements.
“It’s something we’re in
discussions on now, but

it’s definitely a barrier to

entry for new participants

and could have a negative
impact on existing bro-
kers, as most are small
businesses, and talk of
coming up with capital of

$100,000 or $150,000 is a

bit excessive.

_ While.a small number
of BIBA members, JS

Johnson and Insurance -

Management, employ sev-.
eral hundred staff

between them and would

have no trouble finding ~

the capital currently
required by the proposed’
regulations, Mr Gilbert
said: “The majority of our
membership will have dif-
ficulty in meeting that.”

' In addition, BIBA is

also objecting to the

marked increase in fees.’

proposed by the Regula-.
tions. These have been set,

at $3,000 for a broker and ,

$3,000 for an agency busi- .

ness on their own. How-;

ever, a combined a.

broker/agent has to pay,

$6,0000 in fees to the”

Insurance Commission, |" :

compared to the. current | a

$650.

Mr Gilbert said the". _

insurance industry Work: :

ing Group, which playeda a!

large role in developing:

the Insurance Bill, had -
already had two meetings
on the Regulations.,. The:

Association was well-rep- -

resented on the Working . ..

Group through three, na

members. Sed,

Bruce Ferguson,

’ BIBA’s vice-president,

said the Association was

| not objecting to the capi-,
tal requirements, which
regulators wanted in place
"as a policyholder safe-..
“ guard'‘in case something ,
‘went wrong. Instead, it °°!
was that “the limit is
placed much too high”.

Mr Ferguson added that
all Bahamian brokers °'
were already required to’.
purchase professional
indemnity insurance,
something designed to
protect policyholders, and
they did not assume the .,
risk for paying out claims.

- something performed by .
carriers.

He said: “There’s really
no control over who can ,
set up as a broker and it
would be nice if that could
change, but equally we
don’t want to put the
small man out of busi-
ness.’

Mr Gilbert said: “There ©
has to be minimum stan-
dards that should be met
to enter the market as a
brokerage and/or agent
entity, and it’s going to
take this association to
put forward recommenda-
tions along those lines.”

’ The Domestic Insur-
ance Bill has been stuck at:
the House Committee
Stage for some time, as
the MPs who form it are
understood to be grap- »
pling with its definition of,
a ‘spouse’.

In the definition section of
the Bill, ‘spouse’ will include
the cohabiting of a single
man and woman as if they
were legally husband and
wife for “a period of not less
than seven years”.

During the Bill’s Second
Reading, Ken Russell, FNM:

MP for High Rock, was ‘

effectively giving legal status

to “shacking up”, something .

that apparently ran contrary

to this nation’s Christian
principles.












































































































NicFISH
FILLET
SANDWICH





THE TRIBUNE





RND ‘turns down’

largest investor's
request for EGM

@ By NEIL HARTNELL
Tribune Business
Editor

RND_ Holdings has
“refused” to permit the
Extraordinary General
Meeting (EGM) requested
by its largest shareholder,
The Tribune has been

‘told.

-Brent Dean, RND Hold-
ings’ former president and
chief executive, who holds

/31.2 per cent of the com-

pany’s issued ordinary
shares, had requested an
April 7. EGM of all share-

‘holders at the company’s

February 28, 2005; annual
general meeting (AGM) to
discuss a variety of
corporate governance

‘issues.

Mr Dean said previously

‘he was, calling for the
AGM . “due to a lack.of

transparency and timely

‘information to sharehold-
‘ers prior to the AGM”.

But when contacted by

‘The. Tribune on Friday, Mr

‘Dean said RND. Holdings
jhad. decided. not: to agree
‘to his EGM call.

He said: “They refused
;to do it. They cited cost as
‘a barrier, and the fact they
‘had’ planned the regular
‘annual general meeting in
‘June.”

Developments

One capital markets
‘source, when contacted

about developments,. said ;

‘of the company’s ‘decision

“not to agree to the ,EG

‘request: “It sounds like a
stalling tactic, but he [Mr
‘Dean] can still raise the
isame issues at the AGM.”

‘Mr Dean no longer sits
on RND Holdings’ board.
The Board is chaired by
Jerome Fitzgerald, the
‘company’s second largest
shareholder with a 30.96
per cent stake. He is
backed by fellow director,
‘Mark Finlayson, son of
well-known entrepreneur
Garet ‘Tiger’ Finlayson.

The Tribune attempted
to contact Ken Donathan,
‘RND Holdings’ chief oper-
ating officer, for comment
on the EGM situation, but
was told he, was out of
office and the message was
not returned.

Mr Fitzgerald said at the
AGM that the April 7
EGM date could be unre-

‘ alistic, due to the closeness

of the June AGM for fis-
cal 2005 and the need to
send information and invi-
tations ‘to all shareholders.
: It is ‘unclear whether a
proxy battle could result
from Mr'Dean’s calls for
an EGM; as his motives are
currently unknown. He
may want the company to
disclose more information
rather than engage in a
full- scale battle for control,
especially since Mr Fitzger-
ald and his allies have a

US investor
in talks to
| buy resort
_FROM page one

Mark Finlayson, Tiger’s
son, told The Tribune the
developers continued to
await the outcome of a court
dispute between the Evans

family and the Government
over the real ownership of
the land upon which the
development is planned.

He confirmed, however,
that if the matter is resolved
satisfactorily the project will
continue.

Meanwhile, it was been
suggested that the Andros
Isle development may be a
private project located in
either the Nicholls Town or
Mastic Point area.





“They refused to do it. They
cited cost as a barrier, and the
fact they had planned the regu-
lar annual general meeting in

June.”



Brent Dean, RND Holdings’ —

former president and chief executiv

larger combined share-
holding. :

' Among the issues Mr
Dean wants discussed at-an
EGM are giving sharehold-
ers “prompt access to criti-
cal information”; having
RND Holdings’ chief exec-
utive vouch for timely dis-
closure and the accuracy of

financial statements
‘released to shareholders;

and for company directors
who have a direct or indi-

rect benefit in contracts

entered into by RND. .
Holdings to recuse them- —
selves from debates onâ„¢

such deals.

The separation of the

Board from RND Hold-
ings’ management was also
on Mr Dean’s agenda.

He wanted persons nom-
inated by financial institu-
tions elected to the Board

so they could review all the.

company’s growth plans
and its 2005 financial state-
ments.

GRAHAM THOMPSON & CO.

Graham, Thompson & Co., continues to expand
and remains at the cutting edge of complex
commercial transactions within the financial
services, tourism and industrial sectors of The

Bahamas.

| We are seeking a talented and ambitious:
| commercial/corporate, Jawyer. (with 5 to7 years |
post qualification’ éxperience) to join our Freeport °

Office.

Candidates must possess demonstrated skills and
ability to work independently on varied complex
commercial/corporate transactions within a broad
range of business and industries and expertise in
the area of project development and finance.

Applicants should send detailed resumes to ine
Managing Partner as follows:

P.O. Box N-272, Nassau, The Bahamas, or by
facsimile (242) 328-1069 or by email:

info@gtclaw.com.

No telephone calls will be accepted.



WANTED

Administrative Assistant

A leading pharmaceutical company
seeks to identify an ambitious and
dynamic individual for the position of
administrative assistant. Interested
persons should possess:

e Diploma from a recognized secretarial

institution

e Strong communication skills (written

and verbal)

e Thorough working knowledge of '
Microsoft Word, Excel and PowerPoint |

¢ Good organizational skills and the
ability to meet deadlines

¢ Minimum of two years experience ina

similar position

Salary is negotiable according to
qualifications and experience.
Please submit application and
resume, by April 29, 2005.

ADMINISTRATIVE
ASSISTANT

Lowe's Wholesale Drug oe Ltd
P.O. Box N-7504

-* Soldier Road:

Nassau, Bahamas



MONDAY, APRIL 18, 2005, PAGE 3B

& Scotiabank

No curpm prepare upfront for hidden home
ownership costs

By Michael A. Munnings

Senior Manager, Sales and Marketing - Scotiabank

Whether you choose to buy an existing home or build from the ground up, there are certain
costs you can count on, above and beyond your monthly payments. It’s important to be aware
of these so that you can come up with a realistic budget — one that provides for the hidden

costs of home ownership that can catch you off-guard.

Once you've found your dream home, there will be certain expenses related to closing the
deal. These may include legal fees, the-cost of an appraisal, a Quantity Surveyor’s Report and
your real estate agent’s commission. And, depending on when you take possession, you may
have to reimburse the vendor for any expenses incurred for the time period after your closing |

date.

Include the costs of updates
Many people make their new home their own by painting, buying new furniture, or
renovating. While these upgrades can make you feel right at home, the cost of such extras

can quickly add to the purchase price.

Then there’s the cost of the actual move. This can vary widely depending on whether you do
it yourself or hire professionals. Even with professional movers, the cost depends on who you
hire and how much help you want. They can simply move your belongings from the old
location to the new or do everything from supplying boxes, tape and packing materials to

packing and unpacking for you.

Factor in your fixed expenses

After the move, the fixed expenses of home ownership are often referred to as PIT], for
principal, interest, taxes and insurance. Generally, mortgage payments make up the biggest
expense — followed by property tax, based on a percentage of your. home’s value. You'll

continue paying property taxes as long as.you own the property.

Next is your pioperty insurance, a must to obtaining financing from most banks and other
lending institutions. Your policy will cover most fire and theft-related damage to your

property, but be aware certain things may not be covered. Flood protection is usually not

included, so if there are risks where you live, look into obtaining the appropriate type of

" coverage.

Your utilities are another regular home ownership expense you can count on. Electricity, gas,
phone, cable, internet and other utility bills will vary according to what you have in your

home and how much you use it:

Beyond the inevitable expenses, there are.some you can’t predict but should nonetheless

prepare for. They usually involve repairs and maintenance. While upgrades and renovations

‘may be optional, others, like repairs, may not be able to wait,. ib-depending on the nature of ue

problem.

Expect the unexpected
Many home owners prepare for the unexpected by saving a small sum in a special account
each month. Some experts Tegommend setting aside at least 1% of your home’ s purchase

price each year for repairs and maintenance. -

While you'll seats eel ess some years and more others, it all boils down to being
"prepared. Provided you embark on this adventure with your eyes open and a realistic budget,

home ownership will be a move you never regret.

Introductory paragraph for series of home ownership articles:

The following is the third ina five-part series of articles on home ownership, courtesy of

Scotiabank. If you re thinking about making the leap to home ownership, or have already
"done so and want to learn more, this series provides helpful information on everything

from whether to buy or build, financing your home, determining what you can afford and

protecting your assets.

ORERSC RES OE ESEESSE

Scotiabank's ‘Forgive & Forget’ Mortgage Campaign
We're giving away Big Bucks!

Have $10,000 or $7,500 of your mortgage balance Fergiven

Or be one of 20 lucky customers to have $250 of a mortgage payment Fargetten
Down-payment as low as 5% (with Mortgage indemnity Insurance)

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PAID ADVERTISEMENT





Lie
PAGE 4B, MONDAY, APRIL 18, 2005

ETURS sest

National Health

GN - 198

MINISTRY OF EDUCATION

NOTICE

TENDER FOR THE PROVISION

OF SCHOOL FURNITURE

1.0 The Ministry of Education invites sealed bids from persons to tender for the
provision of School Furniture (School Year 2005/06) for Government Schools in
New Providence and the Family Islands.

2.0 Interested Bidders may inspect/collect the bidding documents from from the
Supplies Section of the Ministry of Education, Headquarters, Thompson Boulevard
from Tuesday 12th April, 2005.

3.0 Bids must be in England and should be enclosed in a sealed envelope bearing
no identity of the bidder and endorsed with the subject bided on (e.g. “School
Furniture”.)



returned

s must be deposited in the tender box provided at the address shown below,
efore Friday 29th April, 2005 by 4:30p.m. (local time). Overseas companies



unopened.

wish to tender can submit their bid by mail. Late bids will be rejected and

5.0 Bids will be opened at a public ceremony, in the presence of those Bidders or
their Representatives who choose to attend, at 10:00a.m. on Tuesdy 3rd May; 2005

at the address below. the programme director arriving regarding the evaluation, prepa- _ers.
with experience in social health ration and determination of cost- Actuarial studies were also
: insurance schemes. An interim _ ing involved in the creation of a _ conducted as part of the analysis »
The Chairman Tender report on the plan is expected to . joint initiative. process to ascertain the costs of
Ministry of Finance be completed within the next six Dr Bethel said the health insur- _ the various services that will be








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Principle services:

THE TRIBUNE



Insurance plan
to get director

@ By YOLANDA
DELEVEAUX
Senior Business Reporter

THE Government is awaiting
the arrival within the next four
weeks of a programme director
for its proposed National Health
Insurance scheme, who will bring
to a completion ongoing studies
and gather any information nec-
essary to make a formal presen-

‘tation to the Government.

In an interview with The Tri-
bune, Dr Marcus Bethel, minister
of health, said said the National
Health Insurance scheme contin-
ued to be a work in progress, with

months.

With the government also
looking at strengthening the
national pension plan, Dr Bethel
said there were synergies that
relate to both the proposed health
insurance scheme and the opera-
tion. of the National Insurance
















Minister hopes to
have interim report
in six months

Board (NIB). .

NIB already had the infra-
structure in place to facilitate
management of a public health
scheme, and officials are work-
ing closely in many aspects

ance proposal remains in the data
collection, analysis and costing
phase, all critical elements nec-
essary for the Government to
make an informed decision in
regard to the final look of such a
scheme.

The Health minister said fur-
ther public consultation would be
sought before the interim report
was submitted to the Govern-
ment, which will determine
whether to give the green light to
move to the implementation
phase.

In November, Dr Bethel said a
team had been identified to com-
plete the review by determining

what the real cost of a national

‘health insurance plan will be,

what percentage will be deducted.
from employee salaries and what
percentage of the plan’s costs, if
any, will be picked up by employ-

available under the plan, and

' what the premiums will be.

Dr Bethel said: “The cost of
the plan will be borne by the pub-
lic themselves through payroll
deductions. The only question is
how much contribution will the
government continue to make
and what the premiums are.

“The Government bears the |

burden of the elderly, the dis-
abled and those children who
may not be covered by family
programmes. There was never
any question that the working
population would have to pay
premiums through a tax on pay-
roll." ‘



FirstCaribbean

meets with MPs
resem ctw tenant elm
bank committee

Senior Business Reporter

a By YOLANDA DELEVEAUX

THE Parliamentary select committee on banking has met First-
Caribbean International Bank (Bahamas) officials as part of its
inquiries into mortgage and lending practices, with hopes that a full
report can be submitted before year-end.

The committee is also expected to broaden its inquiries to include
insurance companies and non-financial entities that offer in-house











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ing, said during the meeting with FirstCaribbean, questions were
asked about the bank’s mortgage and interest rate policies.

They included items on how lending officials arrive at mort-
gage terms, and how the interest rate is calculated on a maturing
loan. ;

Since its formation more than a year dgo, committee members
have been in the process of compiling information that could pro-
voke changes in legislation and banking policies on mortgage lend-
ing, and how consumers in default can be treated.

Mr Russell said: “Over the years, all of us have had complaints
from citizens about how they were treated unfairly and how they
lost their money. We're trying to get to the root of the matter.

"If we can find out concretely why it happened to the people who

‘complain, then in the future we will be able to advise potential buy-
ers what their rights are and how to go about getting those rights."

Committee officials are expected to meet in the next few weeks

to discuss the way forward. Along with meetings with the insurance
sector and the non-financial entities that offer in-house mortgages,
Mr Russell said the committee also hopes to hold town meetings in
Nassau, Bimini and Exuma.
Mr Russell said that if committee members can meet on a regu-
lar basis every two weeks from now to October, they would be able
to submit a report to the Government by the end of 2005.

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‘Colina

Financial Advisors Ltd.

=

Pricing Information As Of:
15 April 2005

Jilin

Daily Vol.



52wk-Low
Abaco Markets
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste:
Fidelity Bank’
Cable Bahamas
Colina Holdings
Commonwealth Bank
Doctor's Hospital
Famguard
Finco
FirstCaribbean
Focol
Freeport Concrete
ICD Utilities
J. S. Johnson
Kerzner International BDRs
Premier Real Estate

52wk-Hi

Abaco Markets Limited

‘the leading food distribution company
is looking fora

Junior Accountant

to join our corporate team

Requirements:
- _ Bachelors degree in accounting or finance;

- At least 2 years of relevant experience;
- Excellent PC skills;
- Must be willing to travel.

“52wk-Low
12.50 Bahamas Supermarkets
10.00 Caribbean Crossings (Pref)
ii 0.40 RND Holdings -

28.00 ABDAB
13.00 Bahamas Supermarkets

Duties:

Okc oa Fund Name bast 12 Menthe Yield 8s - General support for all areas with the Accounting










T2164 1.1609 Colina Money Market Fund 7216402" Depart t;
2.2268 1.9423 Fidelity Bahamas G & | Fund 2.2268 *** 7 epa men Z Ri
10.3112 10.0000 ‘Fidelity Prime Income Fund = =—10.3112***** - Preparation of month end journal entries, account
2.2214 2.0941 Colina MS! Preferred Fund 2.221401** epee
Colina Bond Fund 1 ee fo reconciliations,



expense report processing, and date entry;
Assisting with budget preparation and special
projects, as assigned.

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

| S2wk-HI - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today’s Close - Current day's weighted price for dally volume
Change - Change in closing price from day to day

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company's reported earnings per share for the last 12 mths
NAV - Net Asset Value

N/M - Not Meaningful

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

Dally Vol. - Number of total shares traded today
DIV $ - Dividends per share paid in the last 12 months

To apply for this position, please e-mail your detailed
resume and cover letter to hr@abacomarkets.com or
fax to 356-7855.

P/E - Closing price divided by the last 12 month earnings
“*- AS AT MAR. 31, 2005/ **** - AS AT FEB. 28, 2005
|. AS AT MAR. 24, 2005/ *** - AS AT O05/ ***** AS AT MAR. 31, 200

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WML Me ES RRB





siiintesieadeaiiit
EEE 2Ae SiG HE CK


THE TRIBUNE BUSINESS


















MONDAY, APRIL 18, 2005, PAGE 5B

mel te) le ae

MUST SELL



MARSHALL ROAD (NASSAU)

Lot #54, land size 42,130 sq. ft. with a masonry building with eight
inch concrete block walls. The front 2 units are 95% complete.

Appraisal: $256,233.00

Heading west on Blue Hill Road, go pass the intersection of Cowpen
and Blue Hill Road, turn right onto Marshall Road (Adventure
Learning Center Road), follow road to the final curve before the
beach. The subject property is about 100 feet on the right side,
grey trimmed white with unfinished building attached.





YAMACRAW BEACH ESTATES (NASSAU)

Lot #63, house #19, Cat Island Avenue, a 6 year old single story
house with three bedrooms, one bathroom, living room, dining
room, kitchen and laundry room. Property is 70x100 single - family
residential. This property is on flat terrain and fairly level with road
way. Living area 1,574 sq. ft.

Appraisal: $173,000.00



Traveling south on Fox Hill Road, go pass the Prison Compound,
turn left onto Yamacraw then 1st right, follow the road to 1st left,
then first right. The road curves to your left, the house is #19 Cat Island Avenue, painted white. The grounds
are attractively landscape and well-kept access into the subject property is provided by a concrete paved
drive way along with the walkways of concrete flagstones.

FRELIA SUBDIVISION (NASSAU)

of 4 year old three bed, two bath, living, dining, kitchen and utility
room.

Appraisal: $151,115.00

Driving west on Carmichael Road until you arrive at road by More
FM, continue driving north thru a series of curves in the road until

: ; you arrive to the double post sign on the right hand side of the road
turn right, house is 5th on right white trim yellow. Subject property is flat and slightly below the level of the
roadway. This is a single family residential zoning. The-building is about 4 years old, with remedial work
required. :

KENNEDY SUBDIVISION (NASSAU)

Lot no. 21 all utilities available 10 year old single story house, 3
bedroom 2 bathroom, living room, dining area, family room, kitchen,
study, laundry.and an entry porch. :



Appraisal: $175,350.00

Heading west along Soldier Road take main entrance to Kennedy
Subdivision on the left, then take the 1st corner on the left then
1st right, house is second on your right with garage.



KENNEDY SUBDIVISION (NASSAU)

:8;600:sqi40 x 90 ft.; contains a 21.year old single
1 bath, living, dining and kitchen. The lot
| fairly, level with the roadway, residential single











Appraisal: $100,800.00

The subject property is located on the southern side of Soldier
rad about 200 ft., east of the intersection of Kennedy Subdivision

and Soldier Road. Painted blue trimmed white, a low concrete °

wall and concrete gateposts are located at the front with a chainlink fencing enclosing the sides and the
back also walkway and driveway in the frontyard. Ground neatly maintained with basic landscaping in
place. Accommodation consist of three bedrooms, one bathroom, living and dining area and kitchen.

DUNDAS TOWN (ABACO)

for a small shop. Age 12 years the land is a portion of one of
the Dundas Town Crown Allotment parcels. stretching from Forest
Drive to Front Street, being just under a quarter acre in size and
on the lowside. A concrete block structure, with asphalt shingle
roof and L-shape in design with a total length of 70x26 ft, plus
50 x 22 ft., 2,920 sq. ft., the interior walls are concrete blocks,
ceiling is sheet rock and the floors of vinyl tiles.

‘Appraisal: $220,500.00



BAHAMA SOUND (EXUMA)
Duplex in lot #6625, Bahama Sound #8, East Exuma, trapezium

10 year old duplex, 2 bed, 1 bath, kitchen, dining and living
room and porch area. Property is landscaped.

Appraisal: $170,047.50

MURPHY TOWN (ABACO)

Crown Allotment #70, singe storey wood and concree
cour building approximately 758 sq. ft., about 20 years
old.

Appraisal: $71,946.00

Lot #24, Land size 6,724 sq. ft. living area 1,223 sq. ft. consisting

3 two bed, 1 bath triplex 9,000 sq. ft., lot no. 18b with an area

shaped lot 35 ft above sea level, 10,000 sq. ft., single storey, -



GOLDEN GATES #2 (NASSAU)

Lot #1490, section 2 with a 25 year old single family residence 2,480
sq. ft. consisting of five bedrooms, two bathrooms, seperate living
and dining room with a spacious kitchen, lot size is 6,000 sq. ft.

Appraisal: $120,000.00

Property is at grade and level with adequate drainage, house situated
on road knowns as “Donahue Road” which is on the southern side
of Carmicheal Road. Last painted green trimmed white. Enclosed
on one side with 5 ft., chain link fencing and at the front with a low cement block wall with two driveways
and a walkway.



VALENTINES EXTENSION (NASSAU)

Lot #2 contains a 19 year old 1 1/2 storey four plex-with a floor
area of 3,621 sq. ft. The two storey section consist of a master
bedroom, bathroom and sitting area upstairs and two bedrooms,
one bath, living, dining, family room and kitchen downstairs. The
single storey consist of one two bedroom, one bath apartment and
two efficency apartments, land size 7,500 sq. ft. Multi-Family zoning
on flat land and not subject to flooding. -

Appraisal: $347,006.00

The subject property is located on the western side of Valentine's Extension Road, just over one hundred
feet north of the roadway known as Johnson Terrace. Travel east on Bernard Road, turn left onto Adderley



‘Street which is opposite SAC, continue left.at the deep bend, take first right into Johnson Terrace, go to

T-junction and turn left, then first right. Property is second building on right, white trimmed brown.

GLENISTON GARDENS SUBDIVISION
(NASSAU)

30 Year old single story house with floor area of 1,800 sq. ft.,
Lot #28 land size 14,475 ft., consist of 4 bed, 3 bath, living,
dining, kitchen, utility room and carport.

Appraisal: $211,050.00



Driving east on Prince Charles, take the corner before the shopping
centre on the right side, Follow the road around the curve to
the subject house which is painted white trim with blue with a drive way up to the carport.

GOLDEN GATES #1 (NASSAU) |

‘Lot #154,:a single story duplex with floor area of 1,460 sq. ft.
Each apartment consist of 2 bed, 1 bath, living and dining area
and kitchen. Lot size is 5,200 sq. ft.,52x 100. -

Appraisal: $168,504.00

Heading south on Blue Hill Road, take first left after traffic light
at Blue Hill Rad and Carmichael Road intersection. Take the
second right the subject property is the second on the right. Sisal
Road. and Bamboo Court. Painted white, trimmed green.



MURPHY TOWN /(ABACO)

Lot #60 with a structure: fot-size 60x 115 ft.,6,900 sq. ft., 10
ggabove sea level but below road level and would flood in a
evere hurricane the duplex has dimensions of 60:ft by 30 ft
‘partly“of wood and partly of cement blocks with one section
virtually finished and occupied with blocks up to window level
and floor ready to be poured. The roof is asphalt shingles, the
‘interior walls and ceiling are of 1x6 pine and the floor of ceramic
tiles. The finished work is average/below, 2 bedrooms, one bath,
living/dining. The occupied portion of the structure is not complete.
Age: 10 years old. 2 :

Appraisal: $80,498.00










HAMILTON’S (LONG ISLAND)

Queen's High Way, lot of land 13,547 sq. ft., dwelling house
of solid concrete floors, foundation column and belt course
with finished plaster. Two bedrooms, one bathroom, kitchen,
- dining, and living room. Total living space is 1,237 sq. ft., utilities
available are electricity, water, cable tv and telephone.

Appraisal: $98,057.00



RAINBOW BAY SUBDIVISION
(ELEUTHERA)

Lot #44, Block 5, Section A. The lot is on a hill overlooking the
Atlantic Ocean. Area is approximately 10,800 sq. ft. This site
encompasses a two storey apartment block of two apartments.
One upstairs and one downstairs. Each comprising one bedroom
one bathroom, front room, dining, kitchen. There is a wooden
porch approximately 8 - 6 feet wide on the upper level secured
with a wooden handrail. The garage area has been converted
into a efficiency apartment and now houses one
bedroom/frontroom in one and one bathroom. Age: is 7 years
old. The apartments could be rented at $700 per month partly
furnished. The efficiency rented at $400 per month.

‘ Appraisal: $308,402.00



EARLY SETTLERS DRIVE
(ELEUTHERA)
Lot #7 Early Settlers Drive, North Eleuthera Heights, size 11,200

sq. ft., contains incomplete 3 bed, 2.5 bath, living room, dining
room, kitchen and tv room.

Appraisal: $141,716.40



NORTH ELEUTHERA HEIGHTS (ELEUTHERA), Lot #20 approximately 11,200 sq. ft., and bounded on North by Early Settler Drive and South by Deal Investment Ltd., this is a
single family Zoning and 50 ft., ‘above sea level. This site encompasses a foundation with plumbing and roughing inplace and well compacked quarry fill. The concrete floor has not been poured

as yet. The foundation is 2,511 sq. ft.
Appraisal: $43,968.75

Lot #20 situated 1.5 miles east wardly of the Bluff Settlement. The said lot is vacant and a hill over looking the Atlantic Ocean.

BAHAMA CORAL ISLAND (ABACO), Lot #1, Block A, on Central Abaco. This property is vacant and is approximately 9,100 sq. ft. This property is elevated and should not flood under normal conditions.

Appraisal: $8,236.00

The property is in the southwestern portion of the Bahama Coral, Coral Island and bounded northwesterly by 60 ft. Wide Road.

BAHAMA SOUND (EXUMA), Lot #7088 situated in Bahama Sound, Exuma section 10 East. Great Exuma approximately 10.5 miles west of George Town lot is Square in shape on elevation of approximately
15 ft., above sea level contains 10,000 sq. ft., No adverse site conditions noted. This property is single family residence.

Appraisal: $26,250.00

Property is located on the northwestern side of the Queen’s Highway, about 10.5 miles northwest of George Town.

For conditions of sale and other information contact
Philip White @ 502-3077 email philip.white@scotiabank.com or -





Harry Collie @ 502-3034 email harry.collie@scotiabank.com
Please visit www.fsbobahamas.com for interior photos




PAGE 6B, MONDAY, APRIL 18, 2005

THE TRIBUNE



Insurance brokers to hold conference

@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas Insurance
Brokers Association (BIBA)
will hold a two-day conference
this October to debate “every
aspect” of the sector, as the
group moves to raise the pro-
file of brokers with the general
public.

Guilden Gilbert, BIBA’s
president, said the October 27-
28 event would be open to the
entire insurance industry. The
agenda, which will see the first



OM ice Space jer nen

day devoted to life and health
insurance and the second to gen-
eral insurance, has already been
finalised and BIBA is now mov-
ing to firm up the speakers.

Members

In addition to Friday’s t-shirt
day, in which every BIBA
member wore a t-shirt to pro-
mote the sector and Associa-
tion, which has 17 members,
Allyson Maynard-Gibson, min-
ister of financial services and
investments, will address a



BIBA luncheon on June 8 to
discuss the Domestic Insurance
Bill.

Mr Gilbert said: “The prima-
ry reason for the t-shirt day is to

bring awareness to the general -

public of the importance of bro-
kers and the role they play in
the industry.

“We as brokers definitely add
value to the product, as we can
show clients what the market in
totality has to offer, and we also
bring about competition
between carriers.”

Mr Gilbert said BIBA mem- -

bers acted as advisers and con-
sultants to clients, advising them
what insurance product best met
their needs at the most afford-
able price possible. They also
helped insurance companies on
risk mana semen:

He added: “I think we repre-
sent a significant portion of the
market, and so I think people
are more and more aware of the
role brokers play.

“The broker is completely
independent of the insurance
company. The broker has the
ability to shop the market and
we can assist with the claims
handling.”

Bruce Ferguson, BIBA’s vice-
president, said that brokers were
even able to become involved
in the claims process, helping to
reach an equitable settlement
for all concerned.

He added that the indepen-

’ dence of brokers was “very

important”, as insurance com-
panies were not good on every,

- class. of business. Tied agents,

though, had to place business

Ork Design & Construction





4,800 sq. ft. at $6,000 per month or
2,400 sq. ft. at $3,000 per month

Summerwinds Plaza, Harrold Road |
Phone: 424- 3889 « 364-0753

COMMERCIAL BUILDING




Brand New



10,000 sq, ft. at $12.50 &q. ft."
Parking Spaces

Summerwinds Plaza, Harrold Road
Phone: 424-3889 ¢ 364-0753

NOTICE

FINCO INVITES TENDERS

Finance Corporation of Bahamas Limited invites tenders for
the purchase of the following;

“ALL THAT piece parcel or lot of land being Lot “132”, Bel-
Air Estates Subdivision situated in the Eastern District of
the Island of New Providence one of the islands of the
Commonwealth of The Bahamas. Situated thereon is a Single
Family Residence consisting of (5) Bedrooms, (3) Bathrooms,

Building Size: 2,150 sq. ft.
Property Size: 6,000 sq. ft.

This property is being sold under our Power of Sale contained
in a Mortgage FINANCE CORPORATION OF BAHAMAS LIMITED.

All offers should be forwarded in writing in a sealed envelope,;
addressed to the Manager, Credit Management & Recovery
Centre, Finance Corporation of Bahamas Limited, Main
Branch, P.O. Box N-5038, Nassau, Bahamas and marked
“tender 8003”. All offers must be received by the close of |
business 4:00 pm, Friday 22nd April, 2005.

NOTICE

FINCO INVITES TENDERS

Finance Corporation of Bahamas Limited invites tenders for the
purchase of the following:

‘

“ALL THAT piece parcel or lot of land being Lot 52, East Park
‘Estates Subdivision situated on one of islands of the Commonwealth
of The Bahamas. Situated thereon is a Single Family Residence
consisting of (5) Three Bedrooms, (2) Two Bathrooms in each
unit.

Property Size: 6,495 sq. ft.
Building Size: 1,273 sq. ft.

This property is being sold under our Power of Sale contained in
a Mortgage FINANCE CORPORATION OF BAHAMAS LIMITED.

All offers should be forwarded in writing in a sealed envelope,
|| addressed to the Manager, Credit Management & Recovery Centre,
Finance Corporation of Bahamas Limited, Main Branch, P.O. Box
N-3038, Nassau, Bahamas and marked “tender 1833”. All offers
must be received byl the close of business 4:00 pm, Friday 22nd
April, 2005.



Telecommunications & Computer Network Design
& infrastructure Specialist

Homes ¢ Offices * Subdivisions
2 Call Us Today!
Tel: 393-7733 _

1 Det party | Bree ar renee



COMMERCIAL BUILDING
a Brand New

Retail & Warehouse Space
32,000 sq. ft. at $12.50 per sq. ft.,
50 plus parking spaces

Summerwinds Plaza, Harrold Road
Phone: 424-3889 © 364-0753 _

NOTICE

FINCO INVITES TENDERS _

Finance Corporation of Bahamas Limited invites tenders for the
purchase of the following:

“ALL THAT ieee parcel or lot of land: being Lot on Eastern Side
of Mongomery Street situated in the Eastern District of the Island
of New Providence one of the islands of the Commonwealth of
The Bahamas. Situated thereon is a Duplex Apartment consisting
of (2).2 - Bedrooms, (1) Bathrooms in each unit:

Property Size: 6,000 sq. ft.
‘Bullding: Size: L 756 <4. ft.

This property: is bein sold under our Power of Sale contained i in
a Mortgage FINANCE: CORPORATION OF Pe cate LIMITED. '

Al offers should be. forwarded i in writing | ina sealed envelope,
addressed to the Manager, Credit Management & Recovery Centre,
Finance Corporation of Bahamas Limited, Main Branch, P.O. Box
N-3038, Nassau, Bahamas and marked “tender 1871”. All offers
must be received by the close of business A: 00 pm, Friday 22nd
ace 2005.

NOTICE

FINCO INVITES TENDERS

Finance Corporation of Bahamas Limited invites tenders for
the purchase of the following: :

“ALL THAT piece parcel or lot of land being Lot 41, Malcolm
Allotment #72 Nassau Village. Situated in the Southeastern
District on one of the islands of the Commonwealth of The
Bahamas situated thereon is a Vacant Land

Property Size: 6,590 sq. ft.

This property is being sold under our Power of Sale contained
in a Mortgage FINANCE CORPORATION OF BAHAMAS LIMITED.

All offers should be forwarded in writing in.a sealed envelope, _
addressed to the Manager, Credit Management & Recovery
Centre, Finance Corporation of Bahamas Limited, Main
Branch, P.O. Box N-3038, Nassau, Bahamas and marked
“tender 2756”. All offers must be received by the close of

business 4:00 pm, Friday 22nd April, 2005.



@ ALLYSON MAYNARD-GIBSON,
minister of financial services and investments.

with just one carrier, which did

- not always add value to the’

client, Mr Ferguson said.
Mr Gilbert said the consoli-

_ dation experienced in the .

Bahamian insurance industry in
recent years, particularly on the
life and health side through Col-

- ina Insurance Company’s pur-
chases, but also on the general -

nitely limits” options for bro-
kers when selecting the- Tight
policies for clients.

But Jeanine. Lampkin,
BIBA’s treasurer, said: “It
forces brokers to be more.cre-
ative in meeting client. needs.
This is where years of profes-

~ sionalism come in, putting some-

thing together in a limited mar-
ket that still meets client needs,’ ”

side via Bahamas First, “defi-



HOUSE FOR RENT _

5 Bedroom, 4 bathroom, split level,
partly furnished.
Nassau East Blvd.,
$2,500.00 per month

Summerwinds Plaza, Harrold Road
Phone: 424-3889 © 364-0753

‘ANDEAUS

_ INSURANCE BROKER Co. Lid.
To All Our Valuable Clients,

Please be informed that Ms. Alicia T.
Culmer is no longer an employee of Andeaus
Insurance Broker Company Limited. Ms. Culmer
is not authorized to conduct any business for the
company. Please contact the office at 323-4545
for services. Thank you for your continued
patronage.

Management of
Andeaus Insurance Broker Company Limited

NOTICE

FINCO INVITES TENDERS

Finance Corporation of Bahamas Limited invites tenders for the
purchase of the following:

“ALL THAT piece parcel or lot of land being Lot No. 2829, Sir
Lynden Pindling Estates situated in the Western District of the
Island of New Providence one of the islands of the Commonwealth
of The Bahamas. Situated thereon is a Single Family Residence.
consisting of (3) Bedrooms, (2) Bathrooms in each unit.

Property Size: 5,000 sq. ft.
Building Size: 1,136 sq. ft.

This property is being sold under our Power of Sale contained in
a Mortgage FINANCE CORPORATION OF BAHAMAS LIMITED. :

All offers should be forwarded in writing in a sealed envelope,
addressed to the Manager, Credit Management & Recovery Centre,
Finance Corporation of Bahamas Limited, Main Branch, P.O. Box
N-3038, Nassau, Bahamas and marked “tender 2424”. All offers
must be received by the close of business 4:00 pm, Friday 22nd
April, 2005.


IHE | RIBUNE



FROM page one

Black said, were two and four-
door passenger cars; SUVs and
light trucks, cargo vans and
coaches/buses.

The letters are understood to
have been sparked by Mr Miller
receiving numerous complaints
from Bahamians who had found
that parts for used Japanese car
imports were excessively expen-
sive, making it difficult or cost
prohibitive to purchase them.

The two car dealer organisa-
tions and the BGIA were thus

-asked to submit their positions
on the subject of used Japan-
ese car imports to the Minister,
but the letter sent by Mr Black
is more wide-ranging.

In its letter, the BMDA said
the stringent licensing process
and prohibitive fees in Japan
had created an excess supply of
older vehicles in that nation,
forcing suppliers to seek new
markets in the Caribbean and
Pacific Rim regions for them.

While a number of used
Japanese cars were very good
and competitively priced, the

A said consumers might

find it difficult to obtain replace-
‘ment parts for models more
than five to six years old.
» As car manufacturers con-
trolled which models were sold
where in the world, many used
Japanese vehicles in the
Bahamas ‘were not the same as
those supplied by local dealers,
imeaning, at.could be difficult for
consumers to buy engine, trans-
mission and body parts.

This, the BMDA said, meant
that a vehicle classification sys-
tem was required. Its position
seems to be backed by the
insurance industry, which said in
its letter to Mr Miller that unless

the Government wanted to

place a general age limit on car
imports, “the only restrictions
that should be placed on such
vehicles is a requirément for the
séllers to advise the purchaser
of the possible problems that
can be experienced”.

~ However, Mr Black wrote
that parts were available for
used Japanese car imports from
a ‘variety of sources, including
Blessed Things Auto, Jap Auto
and One Stop Auto. These
establishments supplied used
and after market parts, plus
Original Equipment Mantfac-

Car dealers
at odds over
Japanese
car imports

ture (OEM) parts.

Mr Black wrote: “In many
instances, the cost of after-mar-
ket and used parts is generally
50 per cent less than its OEM
counterpart, which results in a
significant savings to the con-
sumer.

“It is interesting to note that
should a vehicle older than
three years be repaired using
OEM parts, the insurance com-
pany may ask the consumer to
pay a part of the cost of the
OEM parts (referred to as ‘bet-
terment’ in insurance terms).”

Mr Black added that the new
and used car dealers body was
at a disadvantage to the BMDA
on warranties, as the Price Con-
trol Act means that the latter
cannot be included in the selling
price and must be added at
additional costs. In addition, he
said new car dealer warranties
were backed by the manufac-
turer, whereas used cars were

not.

Mr Black said the Price Con-
trol Act allowed new cars to be
sold with a 25 per cent mark-
up, while used cars had a 15 per
cent mark-up, further benefiting
new car dealers.

He said his members would
have “no problem” supporting a
mandatory warranty on engine
and transmission parts for a
minimum of 30 days, provided
that the mark-up on used vehi-
cles is adjusted to 50 per cent.

On insurance, Mr Black said
insurance companies should be
“obligated” to pay the previ-
ously agreed value of a car, giv-
en that their own personnel
inspect and value them, “should
a total loss arise during the
ensuing” year without making
any deductions for wear and
tear.

Insurance companies will not
do this, though, for fear it will
lead to increased fraud.

POSITION AVAILABLE

| LAKEVIEW MEMORIAL GARDENS & MAUSOLEUM,

Requires: ‘Customer Care Representative

Qualifications:

¢ The successful candidate should have at

least three (3) years experience in customer | -
service and sales.

¢ Must have good written and oral
communication skills

¢ Must possess good leadership and
interpersonal skills

¢ Must be self-motivated and energetic .

Attractive benefits package.

Please send resume to:

Lakeview Memorial Gardens & Mausoleum
P.O.Box CB - 13773
Nassau, Bahamas

or
Fax: 323-7329

_ MINISTRY OF TRANSPORT
ROAD TRAFFIC DEPARTMENT

- PUBLIC SERVICE VEHICLES LICENSING
AND INSPECTION

In accordance with the Road Traffic Act, Chapter
220, Statute Laws of The Bahamas, the licensing and
inspection of Public Service Vehicles will be carried
| out in New Providence and the Family Islands

| beginning Monday, 2nd May through Tuesday, 31th

| May, 2005.

Owners and operators of these vehicles must ensure
that the total number of vehicles covered by their
franchises is presented for licensing and inspection.
'}. When an owner or operator present fewer vehicles
_| than covered by his/ her franchise, the Road Traffic
‘| Authority, in the absence of proof, will assume that

he/she no longer requires the complete franchise.

The Authority, therefore, requires him/her to show

cause why the franchise may not be reduced on the
strength of section 89(1) of the Road Traffic Act.

Further, all franchise holders must produce
documentary proof to show that their franchises are
operational ‘at the time of licensing and inspection.



Brensil Rolle
Signed Controller

GN-199



SUPREME
COURT

COMMONWEALTH OF THE BAHAMAS

THE SUPREME COURT,
PROBATE DIVISION

2005/PRO/npr/000181

Whereas BRADLEY W. CALLENDER of 19
Heron Circle in the City of Freeport Grand
Bahama, one of the Islands of the
Commonwealth of ‘The Bahamas, Attorney
by deed of Power of Attorney for Tracey Lee
Moral nee Shields, Eric Timothy Shields and
Michael Thomas Shields, the Lawful Children
has made application to the Supreme Court
of The Bahamas, for Letters of Administration
of the real and personal Estate of DR.
TIMOTHY JAMES SHIELDS late of 2817
Kutztown Road East Greenville, Phvederpnle,
18041, U.S.A.,

deceased,
Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date thereof.

Signed

Desiree Robinson
(for) Registrar

~~ THE SUPREME COURT,
_. PROBATE DIVISION

2005/PRO/npr/000185
IN THE ESTATE OF SOTERO ABIBA

late of 1381 Dalsbury Lane in the City

of Virginia Beach in the State of Virginia,
U.S.A.,

deceased.

NOTICE is hereby given that after the

| expiration of fourteen days from the date

hereof, application will be made to the
Supreme Court of The Bahamas, on its
Probate side by LYNN PYFROM
HOLOWESKO of West Bay Street, Western
District, New Providence, one of the Islands
of the Commonwealth of The Bahamas,
Attorneys-at-law, is the Authorized Attorney
in The Bahamas, for the Resealed Grant of

; Letters of Certificate letter of Qualification in

the above estate granted to NORMA A.
ABIBA, the Administratrix C.T.A. by the Virginia
Beach Circuit Court Clerk’s Office, Virginia
Beach, in the State of Virginia, U.S.A., on the
9th day of December, 2004.
Signed
Desiree Robinson
(for) Registrar

THE SUPREME COURT,
PROBATE DIVISION

2005/PRO/npr/000186

IN THE ESTATE OF LORETTA
BIDDULPH late of 26005 Butternut
Road in the County of Cuyahoga of the
City of North Olmstread in the State of
Ohio one of the United States of
America,

deceased.

NOTICE is hereby given that after the
expiration of fourteen days from the date

MONDAY, APHIL 18, ZUUS, PAGE /b

hereof, application will be made to the
Supreme Court of The Bahamas, on its
Probate side by KEVIN M. RUSSELL of #14
Doubloon Drive in the City of Freeport on the
Island of Grand Bahama, one of the Islands
of the Commonwealth of The Bahamas,
Attorneys-at-law, is the Authorized Attorney
in The Bahamas, for the Resealed Grant of
Letters of Testamentary in the above estate
granted to BONITA R. DELORENZO, the
Executrix by the Probate Cout in the County
of Cuyahoga of the City of Ohio, U.S.A., on
the 28th day of July, 1993.

Signed
Desiree Robinson
(for) Registrar

THE SUPREME COURT,
PROBATE DIVISION

2005/PRO/npr/000187

Whereas EDDINS TAYLOR of Winton Estates,
New Providence, The Bahamas, has made
application to the Supreme Court of The
Bahamas for letters of administration of the
real and personal estate of ROSALIND MARIE
TAYLOR late of Winton Estates, New
Providence, The Bahamas,

deceased,
Notice is hereby given that such applications
will be heard by the said Court at the expiration
of 14 days from the date thereof.

Signed

Desiree Robinson
(for) Registrar

THE SUPREME COURT,
PROBATE DIVISION.

2005/PRO/npr/000188

Whereas HAZEL WILLIAMS of No. 21 Danita

‘Bahamas, has: made application to the

Supreme Court of The Bahamas, for letters
of administration with the will annexed of the
real and personal estate of MARION
EDGECOMBE late of, No. 21 Danita Drive,

Bamboo Town New Providence, The | |
- Bahamas,

deceased,

Notice is hereby given that such applications

‘will be heard by the said Court at the expiration
of 14 days from the date hereof.

Signed
Desiree Robinson
(for) Registrar

THE SUPREME COURT,
PROBATE DIVISION

2005/PRO/npr/000189

IN THE ESTATE OF ERIC WELLINGTON
WARD BAILEY, late of Chariton Abbots
Manor, Andoversford, Cheltenham,

Gloucestershire, United Kingdom,

deceased.

NOTICE is hereby given that after the
expiration of fourteen days from the date
hereof, application will be made to the
Supreme Court of The Bahamas, on its
Probate side by KARLA SHANTA McINTOSH |
of Woodstock Street Lane, Freeport, Grand
Bahama, The Bahamas, Attorneys-at-law, the —
Authorized Attorney in The Bahamas, for |
obtaining the Resealed Grant of Probate in
the above estate granted to PETER MAURICE
BARCLAY and DAVID MASTERS, the
Executors, by the High Court of Justice, The
Principal Registry of the Family Division, on
the 14th day of March, 1986.

Signed
Desiree Robinson
(for) Registrar
PAGE 8B, MONDAY, APRIL 18, 2005

1HE TRIBUNE





Analyst challenges environmentalists

to debate on the merits of LNG |

FROM page one

a financial advisory and corpo-
rate consultancy, has sent an e-
mail to reearth in response to
the launch of that organisation’s
petition against the LNG pro-
jects proposed for this nation.

Mr Coulson wrote in his e-mail:
“Not only will I not sign your
petition, I will actively oppose it
and lend my voice against it.

“The five ‘risks and dangers’
that you list are simplistic, mis-
leading and in certain respects
just plain wrong. I have studied
the history of LNG and the AES
report to government and BEST,
and am convinced that the LNG
projects will be in the best inter-
ests of the Bahamas.

“T would be delighted to
engage you in a public debate on
the subject.”

Mr Coulson is a highly-respect-
ed member of the Bahamian
financial community, and has
written several articles previous-
ly published in The Tribune on
the subject of LNG.

reearth has claimed that siting
LNG facilities in the Bahamas
could make this nation a terrorist
target, alleging that this nation is
taking all the risks while the ener-
gy companies - AES Corporation.
and the consortium of Florida

Power & Light Resources, -

Tractebel and El Paso Corpora-
tion - reap all the profits.

Deloitte.




INDEPENDENT AUDITORS’ REPORT

To the Board of Directors and Stockholder of

reearth is claiming that the
LNG companies can “never guar-
antee our safety”, and claims that

if the projects were approved, the

Government would be gambling
with the environment, and
tourism and fisheries industries.

Only the first volume of the
five-volume Environmental
Impact Assessment (EIA) con-
ducted for AES’ $550 millio LNG
terminal and pipeline, slated for
Ocean Cay, a man-made island
near Bimini, has been made pub-
lic on the BEST website. The
rival consortium is still seeking
approval of a Grand Bahama site
for its project.

e e@
Pipeline

The AES EIA said that apart
from the LNG facilities, the com-
pany would run a natural gas
pipeline from Ocean Cay to north
Bimini to “provide a cleaner
source of fuel and natural gas.....
for electricity energy production”.

The EJA added: “The supply
of natural gas will be of sufficient
capacity to serve future econom-
ic development and expansion in
the Biminis.”

Adding that 100 per cent of
electricity generation in the
Biminis and throughout the
Bahamas came from fuel oil, the
AES said: “The current condi-
tions regarding energy genera-
tion and supply in both the
Bahamas and south Florida war-

Bank of Tokyo-Mitsubishi Trust Company and Subsidiaries

_ New York, New York

We have aldited the accompanying consolidated balance sheets of Bank of Tokyé-Mitsubishi "°°
Trust Company and Subsidiaries (the “Company”) as of December 31, 2004 and 2003, and the

related consolidated statements of income, changes in stockholder’s equity and cash flows for the

years then ended. These consolidated financial statements are the responsibility of the

Company’s management. Our responsibility is to express an opinion on these consolidated

financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United
States of America. 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 also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such consolidated financial statements present fairly,

~ financial position of the Company at December 31, 2004 and 2003, a
operations and its cash flows for the years then ended in conformi
generally accepted in the United States of America.

Odloitte FTeucte LeP

March 10, 2005




t ‘ hae informat
Assets

Cash and due from hanks......
Interest-bearing deposite........

Federal funds sold and securities purchased under resale ag

Securities received as collateral

(includes $2,036,438 in 2004 and $1,258,820 in 2003 pledged as collateral)..
Due from securities lending customers.

Securities (includes $498,462 in 2004 and $218,665 in 2003 pledged as collateral).

Consolidated:Balance Sheets

Bank of Tokyo-Mitsubishi Trust Company and Subsidiaries




- Loans and lease finance receivables, net of reserve for loan and

lease losses of $13,435 in 2004 and $95,879 in 2003
Investment in operating leuses.....

Loans held-for-sale......ssesssse
Accrued interest receivable.....

Premises and equipment, net of accumula

“of $6,866 in 2004 and $6,9






Liabilities and Stockholder’s Equity

Deposits:

Noninterest-bearing in domestic offices (nonaMiliated)........
Interest-bearing in domestic offices (nonaffiliated).....
Imterest-bearing in overseas offices (nonaMiliated).
interest-bearing in overseas offices (affiliated).

Deferred taxes payable....

Accrued expenses und other liabilities (including the alf
. losses of $27,072 in 2004 und $32,317 in 2003)...

Subordinated debt......
Total liabilities.

Stockholder's Equity

12 in 2003..

Federal funds purchased and securities sold under repurchase agreements ....
Obligation to return securities received os collateral........
Obligation to retum cash coltateral.





ted depreciation



Preferred stock (par vilue $100); 1,000,000 shares authorized;

None oytstanding

Capital curplus............
Retained eaming..........

Accumulated other comprehensive loss.
Total stockholder's equity.................
Total liabilitics and stockholder’s equity.........

2

See notes to consolidated financial statements.

Common stock (par value $100); 1,485,000 shares authorized;
1,329,219 shares issued and outstanding.....










Interested persons may obtain a complete copy of the Audited
Accounts from SG Hambros Bank & Trust. (Bahamas) Limited,
P.O. Box N-7788, West. Ray Street, Nassau Bahamas.

|
if

in all material respects, the
nd the results of its
ty with accounting principles





















897,119
381,028 . 368,310 °
649,422 620,416
122,742 150,496
2,194,970 2,036,341
439,075 312,006
2,036,438 1,258,820
182,437 537,250
149,736 127,948
107,578 329,163
4,616 4,572
183,554 144,523
95,815 54,489
135,430 134,760_
5,529,649 4,939,872
132,922 132,922
311,494 311,404
352,764 334,020
——__ 3,635) _____1, 695)
793,545 | 776,741



rants the development of a new
gas supply to augment the exist-
ing infrastructure.”

The EIA also envisages AES ©

building a 500,000 gallons per day
desalination plant on Ocean Cay
for a potable and process water
supply, and a reverse osmosis
unit. Water will then be supplied
to north Bimini via a pipeline
from Ocean Cay, although
reearth has questioned why
another reverse osmosis plant was
needed when one already existed.

“In some of the Family Islands,
including the Biminis, the current
electricity supply is insufficient
and/or unreliable, presenting a
hindrance to economic develop-
ment and expansion, the AES
EIA said.

“The project plans to provide
natural gas directly to the Bimin-
is for conversion to electricity.to
allow the supplement of current
supplies with reliable, reasonably-
priced electricity.

“Further, the initial develop-
ment and subsequent operation
of the energy facility, as well as
continued operation and expan-
sion of the aragonite mining oper-
ations, will spur job creation for
Bahamian nationals, particularly
those in the Biminis.”

Apart from economic diversi-
fication and the 400 construction
and 25-35 permanent jobs that
will be created by the AES Ocean
Express project, the main benefits
will be felt by the Public Trea-




Deloitte & Touche LEP

Two Wort Financial Center 7
New York, NY 10281-1414
USA

Tel: +1212 436 2000
Fax: +1 212 436 S000
www.delaitte.cam










fags FED MAAN bes












Member ot .
Deloitte Tuuche Yuhmatsu






December 31,













2004 2003
$359,146 $s Raa
1,172,107 1,625,707
278,000 151,000
2,036,438 1,258,820
182,437 537,250
600,012 334,891
1,632,866 1,482,553
B38, 9,908
6,398 .

11,175 8,957

4.210 5,025
32,087 20,068



$6,323,194 “$5,716,613




S$ = 1,041,778 $s


















S$ 6,323,194 $



sury and government finances.
Leslie Miller, minister of trade
and industry, has previously said
the Bahamas could receive up to
$1.2 billion over 25 years in fees

and licence payments of the AES

project is approved.

The licence the government :
_ will issue to AES is $9 million, :
and the seabed lease fee (which
allows the company to lay :

ipelin th is $6 mil- : . ; ;
Pon. a eae fay pears on a ; its Western Medical Plaza facil-

: ity on Blake Road, which is cur-
: rently held for sale. A previous
: $9.5 million deal, agreed with
i the combination of Medlink

In addition, a "throughput fee" : Financial Services and Bahamas

that measis linked to the amount : Public Services Union (BPSU),

of LNG pumped through to }
Florida is guaranteed at a mini- :
mum of $5 million a year for the :
first four to five years. The com- :

~ munity of Bimini will get $150,000 : number of buyer options relat-

.} ing to Western Medical Plaza’s

: sale, and discussions with one

The training programme to be : potential purchaser are under-

initiated by AES is between : stood to be reasonably advanced.

$200,000 to $400,000 to train ;
chighpaytis’ jobs Coa : lion loss generated by DHHS’
of $400,000 will go to BIVE and ern Medical Plaza were a major
ment has received a guarantee, : drag coi He million operat.
from the parent company, AES } Mé& carnings. Perens wicomie
International, that if the company increased by almost a third or
ever goes bankrupt, there is a ; 30.89 per cent on last year’s
fund of no less than $10 million ;
for compensation to the Bahami- :

? reduced earnings per share (EPS)

2.5 per cent increase every year.

Guaranteed

a year for 25 years to assist with
economic development.

an workers.

In the first year of operation, '
the public treasury is expected to i
receive $13.5 million. By year :

four, it goes up to $19 million a
year. ;
By. year eight, revenue is

year, and by year 12 it goes. up
to $45 million a year. .

Negotiations on the Heads of had come.a lon

Pt g way from the
snp cement Or We epic! : position it found itself in as
cluded, and all it needs is an i recently as 2002-2003, when mar-
Prime : - :
Pam + oe: .. ; its high levels of debt and
Minister: Betty, Chunisic ang his ? accounts receivables, in addition

approval from

Cabinet. |

at full health |

FROM page one

fell through amid a long wait

for government approval.
Sources told The Tribune that

DHHS is currently exploring a

In fiscal 2005, the $1.564 mil-

discontinuing operations at West-

$3.156 million.
The $.1564 million drag also

from the $0.41 generated by con-
tinuing operations to $0.26 net’- a

: reduction of $0.15 or more than a

: third. EPS from continuing oper-
_} ations was still 28.1 per cent
re nu : ahead of 2004’s $0.32, while net
-expected to rise to $25 million a ae jumped from last year’s
i $0.06.

Still, DHHS’ figures showed it

ket analysts were concerned over

TRUST OFFICER

SCOTIATRUST invites applications from qualified
Bahamians for the position of Trust Officer with a
strong background and technical knowledge in areas
of trust, company and agency management. The
applicant will be involved in the administration of a
medium to high complexity level of accounts of
trusts, companies and agencies. A good level of J
accounting knowledge is required. The person
appointed should hold a four year University Degree
ina related subject along with professional
qualifications in the Society of Trust and Estate
Practitioners (STEP) or ACIB. The ideal candidate
should have a minimum of five years progressive
‘experience in the industry. Analytical and
communication skills as well as familiarity with PC
software are essential. Preference will be given to
applicants with language skills. Interested persons
should submit applications in writing marked Private
and Confidential to the Manager, Client Services,
P.O. Box N-3016, Nassau, Bahamas. Applications
should be received no later than Friday, 22nd April,
2005. ,






storey apartment block.

to reach us before May 20, 2005

Serious enquiries onlly!!!

Investment Opportunity
MUST SELL |

“| “Lot No. “K”, containing 6,750 sq. ft., St. Vincent Close Subdivision situate on the southern side of
St. Vincent Road, about one mile west of Blue Hill Road, comprising a triplex apartment and a two-

For condition of the sale and any other information, please'contact:
The Commercial Credit Work Out Unit
at: 356-1686, 356-1685 or 356-1608 Nassau, Bahamas ».

Interested persons should submit offers in writing addressed to:
The Commercial Credit Work Out Unit, P.O. Box N-7518, Nassau, Bahamas

Financing available for the qualified purchaser

to fearing it had expanded too
quickly with Western Medical
Plaza. 4,
DHHS’s share price now
stands at a 52-week high of $1.50,
having been a great investment
for shareholders who’ bought in
between now and its 52-week low
of $0.35. And Western Medical
Plaza’s loss has fallen by 39.4 per
cent from last year’s $2.579 mil-
lion. :
Joseph Krukowski, DHH
chairman, said in a letter to share-
holders: “Earnings per share
jumped from $0.06 to $0.26,
reflecting a 10.5 per cent increase
in total revenues, continued pru-
dent management of expenses
and a significant reduction in
operating costs for discontinuing
operations. The record breaking
financial results reflect increases
in business volumes across.a
broad range of services.”... .*
Refocusing on its core Collins
Avenue facility has brought quick
rewards, though, as “a:significant
reduction in long-term:debt”
ensured that DHHS’s fiscal 2005
year-end cash position incréased
to $3.2 million from $593,000.the
year before. i vette
DHHS said cash from operat-
ing activities totalled $3.7 million,
compared to $0.5 million thé year
beforé, a 139.5 per‘cent increase.
Net receivables fell by 4.9 per
cent, while the number of days
of revenue in accounts receivable
(AR) decreased to 70 days ftom
82 the previous year, reflecting
more timely settlements-of claims
by insurance companies... |
Darron Cash, DHHS:: chief
financial officer, said:.“This has

' been a challenging yet tremen-

dously rewarding year for.every-
one in our organisation: In some
clinical'areas in particular; where
we experienced record numbers
of patients and procedures, ‘our
Associates rose to the occasion
and performed magnificently. We
are all so proud of them.” :

DHHS’ operating expenses
rose slightly in 2005 compared to
the previous year, growing by 8.8
per cent to $21.791 million, but
provisions for doubtful accounts
fell by 7.7 per cent $857,000 from
$928,000.

Total liabilities fell from
$17.132 million to $15.578 mil-
lion, while shareholder equity
rose from $8.169 million in 2004
to $10.737 million. sak

Barry Rassin,. DHHS chief
executive, said: “We have. been
successful in our ongoing efforts
to achieve excellence in quality
patient care. We have reached
new heights, and there is a posi-
tive momentum aimed at mak-
ing greater improvements in cus-
tomer satisfaction.:

“Our Associates have been an
integral part of our plan to ensure
continued growth of the compa-
ny through excellent service to
customers and physicians; I
applaud them for the tremendous
work they do. J also thank our
physicians and the Bahamian

community for their continued.

support.” ;

DHHS has scheduled its annu- -

al general meeting:(AGM) for
May 19. shes

aah

‘

}
t



)







|
|
i
i
}
\
THE TRIBUNE MONDAY, APRIL 18, 2005, PAGE 9B



=i 0TST 1 toys)

Terror database is closed down BW ree
: ; CALLENDER,

“Copyrighted Material



the Partners of the Firm of Scan B.

Syndicated Content Callender & Co., are pleased to

announce the opening of the Abaco
Branch of their Law Chambers. situate

Available from Commercial News Providers”

at the Sea Star Building. Nathan Key
Drive, Marsh Harbour. Abaco.

NOTICE

NOTICE is hereby given that REEDEL SAINTIL, FIRE TRAIL
ROAD, 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 APRIL,
2005 to the Minister responsible for Nationality and Citizenship,

P.O.Box N- 7147, Nassau, Bahamas.













Telephone Nos: 242 367 - 0432-3
Telefax No: 242 367 - 0434
Email: sbcallender@batelnet.bs
Postal address: P.O.Box F-44636.
Dec OUR TTC mM stininT





INTERNATIONAL. FINANCIAL SERVICES ‘Doctors Hospital Health System Limited

eg:

0 wer mbe rng Year Ended January 31, 2005

Chairman’s Report
Doctors Hospital Health System Limited

Dear Shareholders

On behalf of the Board of Directors, I am pleased to present our Company’s results for the year ended
January 31, 2005.

Net income for the year was $2.6 million, representing the highest net income in its history, a
significant improvement over the $0.6 million reported last year. Earnings per share jumped from
$0.06 to $0.26, reflecting a 10.5% increase in total revenues, continued prudent management of
expenses and a significant reduction in operating costs for discontinuing operations. The record
breaking financial results reflect increases in business volumes across a broad range of services.

Following a few challenging years, Doctors Hospital is now stronger and better positioned to
meet the emerging challenges of a dynamic healthcare environment. The cash position is
stronger, the leadership’s focus is sharper, and the commitment to excellence in patient care
has never been greater.

The Board of Directors is pleased that the return to solid profitability and a stronger balance
sheet once again affords us the ability to reinvest in the future of our company—through
training our Associates, community setvice projects, and investments in facility upgrades,
equipment, and information technology. The Board attributes much of this success to the hard
work and dedication of Associates, strong physician support, and the continuing confidence
and patronage of thousands of Bahamians and visitors. The Annual General Meeting is
scheduled for Ma 1.4 2005. at which time.we will. funthes, elaborate, sinmuthe vee Ss: SHECESSES: iY



Joe Krukowski
Chairman
March 14, 2005

NOTICE

To All Doctors Hospital Health System

Shareholders

The Board of Directors of Doctors Hospital Health System reports below summary financial results for
the year ended January 31, 2005.

‘fee bom

SECURITIES: BROKERAGE - ASSET MANAGEMENT - MONEY MARKET. - MUTUAL FUNDS -' CORPORATE FINANCE

VACANCY NOTICE
SECURITY OF FICER

Core Function: Protect employees, visitors
and property

Education and Other Requirements:



Consolidated Statement of Income
(Expressed in thousands of Bahamian dollars)

Year ended January 31,
2005 2004



° Three (3) BGCSE/GCE passes with ‘C’ grades or

above or equivalent/high school diploma. CONTINUING OPERATIONS |

Revenues ; :
Patient service revenue, net R $ 25,956
Other : of 330

Total revenues i ; 26,286

¢ Good human relations skills

° Knowledge of policing principles



° Punctual reliable and energetic Rixpouses

Operating 791, 20,031
Depreciation 7 1,558
Provision for doubtful accounts 928
Total expenses : 22,517

Income from continuing operations before interest . 3,768

e Clean Police Record
° Good character

Interested persons should submit copies of their academic
certificates along with three character references to:
Interest expense (612)
The Human Resources Manager
DA 4121
c/o The Tribune
Nassau, Bahamas

Income from continuing operations 7 3,156

DISCONTINUING OPERATIONS

Loss from operations of discontinuing businesses (1,474) (2,426)
Loss on disposal of discontinued businesses (89) (152)
Impairment of property plant and equipment -

Loss from discontinuing operations (1,564) (2,579)





NET INCOME _ 2,568

Earnings per common share:
From continuing operations
Basic

Selected Balance Sheet Data
(Expressed in thousands of Bahamian dollars)

January 31,
2005 2004
Cash position at end of year $ 3,199 $ 593
Patient accounts receivable, net 939 797
Receivable from third party payors, net 4,628 5,056

Property, plant and equipment 15,474 16,449
Total current assets ee = 10,380 pe 8,284

Total assets 26,315 26,301
Total current liabilities : 4,213 3,412

Total liabilities 15,578 17,132

Total shareholders’ equity $ 10,737 z $_ 8,169

$228,000.00

Middle Income Home, Suffolk Unit 2, Block #51, Lot #3,
3 bed, 5 bath, central air, fully landscape, washer & dryer.



Pe Grand Bahama « Phone: 359-2190


PAGE 10B, MONDAY, APRIL 18, 2005 THE TRIBUNE BUSINESS

Rane

Government agency for machinery and equipment financing (FINAME) (Note 15) 62,154 27st 62,154 22,751
Derivative financial Instruments (Note 6) 7 42341 137,580 WANES. 137,09,
KPMG Auditores Independentes Real: eu i730 ans isos
Mail address Office address Central Tel §5 (11) 3967-3000 eae EE Sts
Caixa Postal 2467 R. Dr. Renato Paes de Barros, 33 Fax National 95 (11) 3079-3752 Coliection of taxes and contributions 108 125 108 125
Foreign currency pon folio 16) 175,370 $52: 370 5
01060-970 Sao Paulo, SP 04530-9804 Sao Paulo, SP Intemational 55 (11) 3079-2916 comes acer (Note 16) 31 : yo 175.3% : eae
Brazil Brazil www.kpmg.com.br Taxes 32,567 32,788 33,739 38359
. Sccurities clearing accounts 4,750 1,413 12,294 9,163
Others 3,008 12,408, 41,202 14,657
Leng term Babuitles . 164,589 987,526 I71, 185 261,574
Depesits (Note 13) 46,473 801,763 473. 93,459
: 2 Interbank deposits cS 718,304 : -
Independent auditors report : : Time deposits 46473 33,459 46473 13,459
: Money market repurchase commitments 7.190 : 7,190 -
To Own pontfolio 7,190 - 7,190 :
The Managers and Shareholders Borrowings Ee
Banco Fibra S.A. Foreign borrowings (Note 14) 32,748 17,760 32,748 10,112
Sao Paulo - SP Repass borrowings from public sector “60.607 120,809 61215 120,809
Government agency for machinery und equipment financing (FINAME) (Note 15) 60,607 120,809 61,215 120,809
We have examined the balance sheets of Banco Fibra S.A. and the consolidated balance sheets of Daisailve naluced wsiraisease (note g) ss 106 3k
Banco Fibra S.A. and its subsidiaries as of December 31, 2004 and 2003 and the related eee iné ae . ae
A statements of income, changes in shareholders’ equity, and changes in financial position for the eat
' years then ended, which are the responsibility of its management. Our responsibility is to express Other Habllides ss ass as tT
3 an opinion on these financial statements. ° Fiscal 3,269 13,042 2959 13,042
a = Others ; : 14,196 11,834 15,494 11,834
f Our examinations were conducted in accordance with auditing standards generally accepted in Ging ele ape Ae ans 232
5 Brazil and included: (a) planning of the audit work, considering the materiality of the balances, baa! 3 aan 3564
: the volume of transactions, and the accounting systems and internal accounting controls of the Deferred income 4 232 4,869 3
f Bank and its subsidiaries; (b) verification, on a test basis, of the evidence and records which Shareholders’ equity 425,687 414735 |_ 425,687 414,235
af ing i i i . i © most .
re support the amounts and accounting information disclosed; and (c) evaluation of th rie Eanes setae ach ssn seas Se
i significant accounting policies and estimates adopted by management of the Bank and 1 Copia served 5190 4.031 5.190 ‘agat
iB ease . i its taken asa whole. Revenue reserves ' 25,229 23,427 25,229 23,427
f subsidiaries, = well oe the presentation of the financial sea Adjustment to market value - Securities and derivative financial instruments (Note 4c) (346) (956) (346) (956)
i 1 th Retained caminys 159,144 151,763 359,144 153,763,
: ini i i ts present fairly, in all material respects, the SS
® In our opinion the aforementioned financial statements p Y> Peels: 7,035,355 6,436,980 6,514,055 $,728,207

' financial position of Banco Fibra S.A. and the consolidated financial position of Banco Fibra
S.A. and its subsidiaries as of December 31, 2004 and 2003, and the results of its operations, and
changes in its shareholders’ equity and changes in its financial position for the years then ended,
in conformity with accounting practices adopted in Brazil.

Sec the accormpanying notes to the financial statements.

January 28, 2005

KPMG Auditores . .dependentes : :
CRC 2SP014428/0-€ : “

SOAP TEER Tha EE Mee oF

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries



Fy Fry Se



Notes to the financial statements

a Swiss ceoperutive

(gx ssato ; :
Asebuntant CRC 1SP160769/0-0 ee Les sls nenuner «Baa

Banco Fibra S.A. Years ended December 31, 2004 and 2003



(In thousands of Reais) :
Balance sheets :



Years ended December 31, 2004 and 2003





















# In thousands of RS rN
ee ¥
Pa A 5
Z ; ,
cn 1 Operations ®
a Banco Fibra S.A. Fiben Consolidated . \
i : Banco Fibra S.A. is organized as a multiple service bank, and its operations involve commercial
a Current assets 6800785 __ 5,458,439 6395361 __ 5,688,493 banking, foreign exchange, investment, credit and financing transactions. The Bank also
‘A ait ad Gaul ace : 17938 6823 an 6,902 operates, through its subsidiaries, in leasing, brokerage of securities, and management of
i . eae ca a iizges ia investment portfolios and investment funds.
|
f 4,048,113 2463456 4,048,113 2,463,456
x aca acral 413 20421 4,809 20421 / : . .
oy Sooviis i ack 79643 : 73.643 : 2 Presentation of financial statements
a Securies and derivative financial instruments (Note 6) ~ 1,584,159 2,268,394 1,061,490 2,277,755 . : ‘ :
A ra ae eo ie poe The financial statements of the Banco Fibra S.A. (“Banco Fibra”) include the balances of its EY
in i uijests vepuncat Gossbiaal 361,331 741,810 361,531 1,337,404 foreign branch (Note 12) and are presented together with the consolidated financial statements of ;
e Derivative financial instruments 378382. 182,399 42,420 197959 Banco Fibra and its subsidiaries (“Fibra Consolidated”)
ie ’ Deposited with the Central Bank ae 112.378 ne wan | 7
fF Pledged as guarantees : 12,100 14,407 i .
e :
ee Interbank accounts (Note 8) 66 nO 066 290 s 7
e ; 2 j ane 3 Consolidated financial statements
ek Ccoraton stse: 126 é 126 : : :
Li Conrespondents 40 7 40 ° The consolidated financial statements of Banco Fibra include its foreign’ branch and the
we Leass (owes) , 647,235 506,692 647235 $06,692 subsidiaries .Fibra Leasing ‘S!A. +-Atréndamento ‘Mercantil (99.99%), Fibra Distribuidora de
et 1 Ee : 7 sect Titulos e Valores Mobilidrios Ltda. (99.99%), RTSPE Empreendimentos e Participagdes Ltda.
me Publis cosses whgees 3,631 7634 3,631 1634 ‘ 1(99.99%), Fibra Companhia Securitizadora de Créditos Financeiros (99.99%), Fibra Companhia _
ef Prva oe oa Bee > naman Gates a (ee Securitizadora de Crédito Imobiliério (99.99%), Fibra Projetos ¢ Consultoria Econémica Ltda
a Allowance for loan Loseea (12,962) . ; (99.99%) and Banco Fibra International Ltd (100.00%).
se i Lease tons (Note 9) - : 1,517 1,726 .
2 Lease receivables ~ Private sector aan 4362 1,843 Income and expenses, and the balances between consolidated companies were eliminated in the
a ‘Allowence forlease loeces 737) 3) G65) ay consolidated financial statements. (Note 20) ; 4
e ; : F . oye . Lease transactions, stated at their net present value, are classified in current and noncurrent assets
i Fetes antics poius oles 1) 357,470 136,887 aan wast in the consolidated financial statements. These transactions were originally presented in the
ut Income receivable . “ites via Frei a financial statements of Fibra Leasing, as permanent assets (“Leased fixed assets”) and current
oe eae peers sg 2, aie a and long-term liabilities (“Other liabilities - Others” and “Residual value prepayments”).
ae Tax credits (Note 18) 5, ; f
-Others. (Note 17.2) 19,495 4018 67,479 44,033 : ‘ . ° -e ao ae .
é sce ee ty) aa 8m) “rm (35 Banco Fibra S.A. and Banco Fibra S.A, and its subsidiaries
at :
Â¥ Notes to the financial statements
eo Other assets 7 9,792 8,409 10,275 9,090
E Vatuation alowance 4675)» (4901) (4908) (53240)
a Prepaid expenses | 4135 ams 5ai8 428 (In thousands of Reais)
Leag terms assets —— ae, aes _ 987 _9 8 4 Significant accounting policies
=f Interbank fends applied (Note 5) ; S90 230) / ;
ss a a . a5 2 The accounting practices adopted - for the recognition and preparation of these financial
ae an statements are derived from Brazilian Corporate Law, and the mules and instructions of the
2 Socertiies and dertvative fieancial instruments (Note 6) 2197S Brazilian Central Bank (BACEN). The main accounting practices are as follows:
# : 2008. : 2,008 ; ,
4 Own portfolio ,
at Subject to repu-chase commitments : “3 Gone “3 eu a. Recognition of income
ae Derivative finencial instruments . b :
é
Lease (Note 9) 103,313 138,544 103,313 138,544 Current operating income and expenses, and transactions exposed to monetary variations are
‘ ee . : accrued on a daily basis. Operating assets and liabilities exposed to exchange variation are
2 Publis wecnar 18,120 18,206 18,120 18,206 price.level restated according to the foreign exchange rate at the balance sheet date; according
* Biivuie sector 85,193 120,338 85,193 120,338 to the contractual clauses.
* Lease operations (Note 9) SS eS : ;
s i, acd ce as F ie b. Interbank funds applied
% Allowance for lease losses oa (3,506) : (3,506)
eo. Stated at cost value plus income accrued up to the balance sheet date.
a Ocoee recetvabes 3, ___ gs) 5868087
ia Income receivable : 1,202 : 1aon 2 c. Securities
Pi ‘Securities clearing accounts 329 1347 .
A . :
Fd ‘Tax credits (Note 18) 7 55,663 69,010 $6,199 69,010 Are classified into three categories: “trading securities”, “securities available for sale” and
2 Otrers (Note 17.) : 12,383 . 1s “securities held to maturity”. Securities classified as “trading securities” are stated at market
‘al Other nevets 1013 : 1,013 : value, with adjustments stated in an offsetting entry in the appropriate income or expense
3 : oa ve . account for the period. Marketable securities classified as “available for sale” are stated at
3 Pregeid expenses : : the market value and adjustments thereto are stated in a separate account in shareholders’
a Permanent asset —— S08 T_T 0, equity, net. of tax effects, and are restated to income for the period in which the effective
ay ; disposal thereof occurs. The “securities held to maturity” are stated at acquisition cost, plus
val: Eee . Rs “gn 6,696 6,680 : Sac, etait ‘
af ; interest accrued up to the balance sheet date. Recognition in this category depends on the
Po - ude harrmre ibe : . aan uae : : financial capacity of the institution to retain them until maturity, which is a Management
ae ‘ona prucioalrl gam Foreign : 6326 6310 6,96 6,880 decision, based on projected cash flow and does not take into consideration the possibility of \
“a . 3 ay
g fa ia sis Al sale disposal of these securities. (Note 6a)
a Rie Saas
28 Property, plant and equipment for own use 10,521 10,524 8,979 d. Derivative financial instruments
# Accamulsted depreciation - 637 (5,947) (6,380) (5,920) ;
ie ee ; 7 :
8 Deferred expenses / _ 3367 wy T_T : Derivatives are stated at their market values on the balance sheet date, and are used to
i Lg , sm 2.309 57 2,309 manage overall risk exposure, and not for hedging purposes. They are accounted for under
ae ‘Accumulated amortization 80562) 904) 882) the appropriate income’ or expense account, as presented in the statements of income. (Note
i SSIES, GH SUAS, 5.72807 b)
a 4 ‘See the eccompanying noes to the financial statements. : ° ‘i : : oa: :
; Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
FI Baace Fibra S.A; Notes to the financial statements
e : :

(In thousands of Reais) i
fi Balance sheets : ‘
a) 2 \
B, ’ {
4, Wears ended December 31, 2004 and 2003 bine e. Allowances for loan and lease operation losses and other receivables
S In thousands of RS :

i, . . 2
» Recorded at amounts considered sufficient to cover possible losses. The Central Bank of
2 Brazil, under Resolution 2682/99, established rules which are based on an analysis of the
3 beara ake Firs Caaeauduicd risks of clients’ current operations and on past performance as well as specific sector or
" Lisbidttes 2004 2003 7004 2003 portfolio risks (Note 10).
# Current labulictes : 6,460,210 5,032,397 3,912,314 3,049,576
ey nee) . . a nen f. Other assets
Ry Deposits (Note 1,335,507 836,753 é
& = one wn mies sa Assets received as payment are recorded under the heading ‘Other assets” and include
E Tine deposits 906.315 as 906,318 77652 provisions established in an amount considered sufficient to cover probable losses on
. Other deposits 375 : 375 : realization. :
» Meacy market repurchase commitments 4,335,354 3,733,222 4,335,354 3,754,345
‘ Ova ponfolio 323,458 1,315,199 323,458 1.314822 g- Investments
: ‘Third-party ponfolio : 3,701,173 2,440,023 3,701,173 2,440,023 zi
ae Free mavemen portfolio : 310.223 : 310,723 ‘ Investments in subsidiaries are valued according to the equity method of accounting. Other :
fe laterbank accounts ’ _29% 229 ; 2219 investments are valued at purchase cost and price level restated up to December 31, 1995, \
G wisn : ae 2 a less a provision for losses, when applicable.
Imerbenk repasses 23,926 - :
‘seis ‘isi ies ae 433 h. Premises and equipment and deferred expenses
Oi ten inne Be, ee ““ oe Re Depreciation of property, plant and equipment and amortization of deferred expenses are
Serrowiags : ; SI NGS IT 24 calculatéd using the straight-line method at the following annual rates and terms: (a)
ackigu Cacctigs sie 4h sia ions saan isan property, plant and equipment: vehicles and computer systems - 20%, other assets - 10%, (b)
deferred expenses: costs of acquisition and development of software - 20%, and leasehold
Repass borrowings from public sector 62,154 23,751 62,154 22,751

improvements - rental contract term.

ag
THE TRIBUNE BUSINESS .... MONDAY, APRIL 18, 2005, PAGE 11B

i. Income and social contribution taxes ;
December 31, 2004 f
The provision for income tax is recorded at the rate of 15% plus a surcharge of 10% on
Banco Fibra Fibra Consolidated

annual taxable income exceeding R$ 240. The provision for social contribution taxes is

recorded at the rate of 9%, in accordance with prevailing legislation: Further details of these National Treasury Bills - LTN e659 i ee
tax effects are disclosed in Note 18. Others 1,036 1,036
Banco Fibra §.A. and Banco Fibra S,A. and its subsidiaries _ _ Total (1) 59.693 see

(1), The total margin values deposited is comprised of R$ 47,648 deposited by the Valéncia Fund.

Notes to the financial statements Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

(In thousands of Reais)
5- Interbank funds applied Notes to the financial statements

a ft:
Money market - Repurchase agreements Uivthousands of Reais).

Money market investments are represented by securities in the amount of R$ 4,048,113 (R$ q Risk management

2,463,456 in 2003) pledged by Federal Debt Securities in Banco Fibra and Fibra Consolidated.

Control of market risk exposure, focused on the risk management of the positions assumed by
Management, is directly subordinated to the Senior Bank Executives. The management of

Scourities aud deulvaiiys inane ayes market risk involves a set of: controls, which includes the value at risk (V@R) concept witbin
iti j ; certain. parameters, using the optimized Exponential Weighted Moving Average - E.W.M.A.,
a. Securities portfolio t r : a aia
: : which assigns greater weight to more recent events and stress tests. |e purpose o: ;
Banco Fibra —______Fibra Consolidated assess the maximum loss potential of a portfolio, taking into consideration the worst-case

scenario which could occur. Combined with other risk assessment instruments, they aim at







2004 2003 2004 2003 2 Sea ect
presenting, quantitatively, the risks assumed by the Bank. The Bank’s risk exposure policy is
“value aie ahs Aerie vad : ee considered to be conservative, and the V@R limits and stress scenario are periodically authorized
by a specific committee, which comprises members of the Board of Directors, the Executive
‘Trading (1) 0.38 983.509 2.079.064 = 1.001.002 1,004,229 2.112.865 Committee, Risk Management, and Controlling and Funding areas.
Financial Treasury Bills - LFT 4,587 4,581 555,104 4,761 4,754 556,250 ay ‘ ; re 3
National Treasury Bills- LTN 462,736 463.004 seal 462,736 53.004 4076 The pricing models used by the Bank were developed internally and the calculation of the curves
National T: Notes - NTN 29,426 29,796 74,607 30,734 31,11 74,607 - Lys, :
Conta Bask Novis: NBC 81,271 82,240 470,587 81,271 82,24) 470,587 : and reference prices are the responsibility of the Risk Management department, ee
pee came ines see 4 4030 wean saeae ee methodology is approved by senior management of the Bank and takes into consideration the
Investment , Fs > . R | ’ Sale i fe . -
. Shares of publicly traded companies 20,077 21,305 19,710 20,077 21,304 19,710 characteristics of each negotiated financial instrument.
Euronotes and commercial papers 74,538 74,928 59,874 74,538 74,927 59,874
Other ; - - + $,069 z a 5,219
Held to maturity (3) 419,968 419,968 603,242 12.631 12,631 2299 : 8 Interbank account
Euronotes and commercial papers (3) 419,968 419,968 602,860 12,631 12,631 7,417
- - 382 : 382 : 1 :
a On December 31, 2004, it was comprised of checks and other documents pending settlement in
Available for sale (1) 2,527 2,253 8,557 2527 2,253 % : 3 : 2
Financial Treasury Bills - LFT : : 7,058 a s 7,058 the amount of R$ 1,066 (R$ 1,290 in 2003) in Banco Fibra and Fibra Consolidated.
Shares of publicly traded companies 2,527 2.210 2,527 2,210 '
Pri it : : 449 : - ino : : : sass
co : is “ . ne Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
Derivative financial instruments 278.985 278,382. : 297,810 43,020 42,420 168,284
. Swap Receivable 278,985 778,382 280,883 43,020 42,420 151,357 ’ Bs
Forward transactions - - 16,780 A - 16,780 7 cs ;
Other j 147 : : 12 - Notes to the financial statements
Total portfolio LSRIR60 584202 -LORRGT «4.059.180 Lossy 2.297.505 oes
. : 4 ; < Bases (In. thousands of Reais)
Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
\ 9 Loans and lease operations (Consolidated)
a. Composition of portfolio
a 2004 : 2003
Notes to the financial statements
RS % RS %
(In thousands of Reais) Loans 763,510 58.0 659,408 68.5
(1) For the categories “Securities available for sale” and “Trading securities”, the book values of the securities were Working capital : 492,007 37.4 364,600 37.8
: calculated using the following criteria: a) federal debt securities; forwards and options are priced as described in c I
: . or ‘ Ft a A Onsumer loans 57,657 4.4 29,978 3.1
. Note 7; b) Publicly traded equity securities, and forward transactions linked to these securities are priced Repass under Resolution 2770 33,970 18 28 326 29:
according to the average quotation available from the last quotation made available, or in,the absence thereof, the ; ae ‘ 23; ‘| . a
* most recent quotations, published in the Daily Bulletin of each Stock Exchange; and ¢c) Swaps, based on the mport ancing loans : 22,234 1.7: 27,413 2.8
reference values of each contract's parameters (part and counterpart, except Fibra Group), taking into account the Repass - National Bank for Economic and Social Development -
cash flow discounted at the present value-based on interést rates disclosed based on the pricing model described in BNDES é : 123,777 94 116,793 17.0
Note 7, according to the terms of each contract. , Vendor and Compror : 41,287 3.1 53,977 5.6
¢ I Fund - Val FIF | fund portfoli ised, inl f the followi Financial Other 2,583... 02 srt, i
2) Investment Fund - Valéncia is a mutual fund portfolio comprised, mainly, of the following:. Fi i Lease ti 3 ‘ 4 s
Treasury Bills - LFT - R$ 146.961, Shares of publicly-traded companies RS 20,898, Swaps eee a ; ae - 03 aaae a
R$ 22,240, with counterpart of Banco Fibra, Private bonds R$ 21,217 and Others R$ 8,737. The portfolio of the 2 Port. 217, 16.5 82, x
exclusive Investment Fund - Barcelona, included in the consolidated financial statements of Fibra Consolidated is * Other receivables feat 7,028 0.5 8414 0.9
comprised of the following: Repos pledged by Financial Treasury Notes, with counterpart of Banco Fibra. Co-obligations and risks from guarantees provided 325,228 24.7 207433 _21.5
R$ 109,933, Swaps R$ 3,283, with counterpart of Banco Fibra, Private bonds R$ 4,444 and Others R$ 32. ‘Total loa aiid lease aperteicns
(3) As of December 31, 2004, the market value for securities held to maturity are not different from the book values atte Fete at = ite $
"presented, In Banco Fibra, this includes R$'407,380 (R$ 595,443 in 2003) of “Euro Medium Term Notes” issued: 5. Distribution by economic activity
by Fibra Leasing S.A., eliminated in Fibra Consolidated. f : ; 2004 2003
In December, 2004 the amount of R$ 130,356, presented as “held to maturity”, was sold. This ; ‘ RS % RS %
operation affected the income for the year in the amount of R$ 2,239, and reflected the ladustry 589,873 44,7 440,840. 458
+ reassessment of management’s intention to:hold those securities to maturity. 29 re i SPAS «Commerce «* °~ ts : 188,398 143 103,193 10.7
Shet se adinacstbusswae ed Geb st CMU BO} gis Paap ailiiohl goin @ aol 3 a Services ‘ 404,039 30,7 343,252 35.6
Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries : v0 UNgriculmare’:'s We 20'526 (jess OBO 20M
' 192 a “Realestate ee 2,662 0.20.05 - :
Sane, Public sector " 29,809 23 —-25,840 27
: : i Financial intermediaries 27,455 20. 5,950 t 0.6
x Individuals 2,417 40,421
Notes to the financial statements 2412 40 40.421 42
Total aod 312179 100.0 963,576 100.0

(In thousands of Reais) : ; ; ‘ Bee
Pe ene ee Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

b. Derivative financial instruments - Swaps and forwards

The Bank enters into operations with derivatives for the purpose of addressing its own and t
client-needs to reduce exposure to market, currency and interest risks. The Bank has invested

in developing system controls, focusing on management of those risks. The risk management : Notes to the financial statements
is performed based on limits and operating strategies. The derivatives, in accordance with
their nature and specific legislation, are accounted for in the balance sheets or as off-balance (In thousands of Reais)

items. As at December 31, 2004, the derivatives recorded in the balance sheet and as off-

balance items include forwards and swap contracts, as follows: c. Largest debtors









: 2004 2003
Swap contracts . Banco Fibra ‘ Fibra Consolidated
3 ) : %of %of %ot %of
Receivable - Assets _Liabiliti Net receivable Assets Liabilities | Net receivable : =
CDI vs. DOLLAR 627,676 567,832 se 59,844 543,289 502,915 42,374 RS Portfolio Equity © R$ _ Portfolio Equity
-CDI vs. PRE 23,124 23,078 46 23,124 23,078 46 es oe
y PRE vs. DOLLAR 616,652 398,160 218,492 - - > : ’ Largest debtor: 31,287 2.4 7.3 43,338 4.5 10.4
us Bee Lao ee eee 218,382" 508413 525.998 eee 10 largest debtors 191,482 145 45.0 266,475 27.7 643
ayable : i 2 H x
* DOLLAR vs. CDI 560,104 602,850 (42,746) 496,136 536,753 (40,617) 20 largest debtors 300,926 22.8 70.7. 389,838 40.5 94.0
CDI vs, PRE 5,046 5,047 q) 5,046 5,047 ql) 1 ; ‘
PRE vs. CDI 23,844 23,796 48 23,559 23,464 95 | Sibsy ie ;
Other 905 653 "252 905 653 252 d. Distribution by maturity
TOTAL "589,899 632.346 (42,487) 525,646 565,917 (40,271)
2004 2003
Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
* RS % RS %
Up to 30 days : 295,766 22.4 219,786 22.8
7 From 31 to 60 days ; 214,790 16.3 © 162,167 16.8
' Notes to the financial statements From 61 t0 90 days 124,669 9.5 84,783 8.8
es From 91 to 180 days \ 259,400 19.7 191,522 19.9
(In thousands of Reais) : From 181 to 360 days 235,486 17.9 150,792 15.6
c. Maturity of securities and derivative financial instruments : More than 360 days 187,06 —142 154,526 16.0
Banco Fibra 311090; a1 ease i a ars : Total = 1312179 100.0 963,576 100.0
Categories Up to 30 days days days 360 days days Total 2004 Total 2003 ; :
Trading 883,599 - : te - 883,599 2,079,064 Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
Held to maturity 6,000 96,351 52,177 265,440 - 419,968 603,242 : i
Available for sale 2,210 - - - 43 2,253 8,557
Derivative financial
instruments (assets) 55,682 52,746 22,347 147,607 - 278,382 297,810
Tota 947491 - 149.097 74.54 aug’ spa.zm sea Notes to the financial statements

anon. : .

Sumeae annie} (39,501) (40) (192), (3,006) 292 (42,447). (159,898) (In thousands of Reais)

= 10 Distribution of loans by risk rating levels
ra Consolidated

Chicas ‘ si 31 to 90 91 to 180 181 to More than
‘ategories p to jays day: d 360 da 360 di Total 2004 Total 2003 - ° ° 9 °
: ™ " CNet ° a. Presentation of the Loan and Lease Portfolio by risk levels - Fibra Consolidated
Trading 1,004,229 x Z i - 1,004,229 2,112,865 ;
Held to maturity 6,000 “ 6,631 2 ss 12,631 7,199
Available for sale 2,210 it 2 b 43 2,253 8,557. _Current pos Overdue.
EE ey 38.213 2.143 604 0 . a 168.284 Risk Minimum ‘Installments Total Total
ae Ge Level provision RS Provision Overdue not due Provision operations provisions
Total 1.050.652 2,143 1325 4370 43 1,061,533 2,297,505 AK - 424,682 “ ~ 424,682 :
Derivative financial (37,357) (8) (192) (3,006) 292 ( 40271) (159,747) : Teo gases Sasi 8 7 page eey seen
n ae , (159, B 1.0 345,082 3,451 1,268 237 15 346,587 ,
tegerymnents (hebilities) : Cc 3.0 146,731 4,402 819 308 34 «147,858 4436
B Bien dB . . ; D 10.0 4,875 488 9,993 563 1,056 15,431 1,544
idiari E 30.0 1113 334 316 843 348 2,272 682
anco Fibra $.A. and Banco Fibra S.A. and its subsidiaries E sop at ioe at ei ai 316 ase 2 ie
G 70.0 - - n2 270 239 342 239
H 100.0 5,110 5,110 109 2,016 2,125 7.235 7,235
Total in 2004 "1290933 46.551 12.28 4,518 4033 LAL? 20.584
Notes to the financial statements % of pontolio 98.7% 1.0% 0.3%
(In thousands of Reais) Tee 26421 ila Ltt ia 2.0, 263.16 os
% of pontolio 99.2% 0.49 0.4%
d. Notional value of derivative financial instrument, distributed between places of , b. Allowance for loan losses - Consolidated
negotiation, as follows:
4 2003
December 31,2004 200
Banco Fibra Fibra Consolidated Opening balance 22,087 21,613
CETIP (over the counter market) 1,205,292 1,129,721 Write-offs against provision (8,871) (11,328)
BM&F 19,338 __ 19,338 Provisions recorded:during the year 12,980 11,870
; Credit assignments (5,612) ' p=
Tota 1.224.630 1.142.059
: ° ° : : ° 4 B 17
e. Presentations of margins deposited in guarantee for derivative financial instrument Closing balance 20.38 22,082
transactions

EEE AEE REE BE PE OP OREN AE NE REE AE PLE EP IERIE PACT GE ATER EEE AE ELLE REL IG EEL AE SMG EDV BW A IM nia
PAGE 12B, MONDAY, APRIL 18, 2005 THE TRIBUNE BUSINESS

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries 15. “osaetie Gotan barawine.

At December 31, 2004, domestic repass borrowing refers to funds raised from BNDES and
; - FINAME for operations with clients, totaling R$ 122,761 in Banco Fibra (R$ 143,560 in 2003)
Notes to the financial statements and R$ 123,369 in Fibra Consolidated (R$ 143,560 in 2003).

Distribution amongst maturity

(In thousands of Reais)
The total recovery of loans written off during the year amounted to R$ 1,150 (R$ 3,697 in 01030) 3108 611090 9100180 182 More
2003), and renegotiation of. loans amounted to RS 1,134 (R$ 5,121 in 2003) in Banco Kibra days "days aes Cae 360 aa de Total 2004 Total 2003
and R$ 1,192 (R$ 5,172 in 2003) in Fibra Consolidated. z
: Banco Fibra 4,498 4,418 4,464 31,543 17,231 60,607 122,761 143,560
Fibra Consolidated 4,498 4,418 4,464 31,543 17,231 61,215 123,369 143,560

c. Credit assignments

During 2004, loan contracts were sold to Fibra Securitizadora de Créditos Financeiros, 16
(subsidiary) in the amount of R$ 12,263 in Banco Fibra and R$ 1,263 in Fibra Consolidated.
Such transactions did not produce any impact on net equity nor on the statements of income

_for the year, as the provisions recorded at Banco Fibra were maintained at Fibra

Foreign currency portfolio

Banco Fibra and Fibra Consolidated





Securitizadora de Créditos Financeiros. 2004 2003
Interbank Clients Total Interbank Clients Total
11 Investments in subsidiaries Assets 147815 209,655. “357,470 5134185516 136.857
Foreign exchange purchased pending 2
2004 2003 settlement . 59,954 207,071 267,025 38,651 84,277 122,928
: Rights from exchange sold 87,861 18,336 106,197 12,690 405 13,095
(-) Advances in local currency - (19,059) (19,059) - (405) (105)
Subsidiary %of Shareholders Net Amount of Amount of Income receivable : 3,307 3,307 - 1,239 1,239
ownership equity income Equity investment investment se ais
Fibra Leasing S.A. Arrendamento Liabilities 147,634 21.236 75,37 51,400 3.835 55,235
Mercantil 99.999% 32,898 1,358 1,358 32,898 31,538 Aree ;
phe Dngbaoie de Titulos e Valores ° : Obligations for exchange purchased 59,956 223,164 283,120 38,789 84,587 123,376
Mobiliarios Lida. 99.590% 6111 968 968 6,111 5,135 Unsettled sold exchange 87,678 18,311 105,989 12,611 405 13,016
RTSPE Empreendimentos (-) Advances on exchange contracts - (213,739) (213,739) : (81,157) (81,157)
Participagoes Lida. 100.000% 320 320 320 320 ~
Fibra Projetos e Consultoria Econémica B Fib S A d B
Lida. (c) 99.999% 730 ( 269) (269) 730 a 1 1 stats
A edd acs | Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
Financeiros 99.990% 1,640 (373) (373) 1,640 998
Fibra Cia. Securitizadora de Créditos
Imobiliarios (a) 99.825% 11,564 235 235° 11,564 997
Banco Fibra Intemational Ltd. (d’ 100.000% 13,272 2,378 : 43.272 = aaa
@ 6 (2.378) Notes to the financial statements
Total 2239 66,535 38,668

(In thousands of Reais)

17 Composition of other relevant balances

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
: a. Current and long-term assets

Other receivables - Other

Notes to the financial statements Refers mainly to deposits pledged as guarantees in the amount of R$ 15,732 (R$ 13,724 in

2003) in Banco Fibra and R$ 22,387 (R$ 14,142 in 2003) in Fibra Consolidated, renegotiated

(In thousands of Reais)

References

a. On October 13, 2003, Fibra Companhia Securitizadora de Créditos Imobiliarios was
incorporated in its pre-operation stage. The going-public process is still subject to approval
by the Brazilian Securities Commission

b. In accordanée with the extraordinary shareholders’ general meeting, on November 19, 2003,
the capital of Fibra Leasing S.A. - Arrendamento Mercantil was increased by the amount of
R$ 30,000, which was approved by the Brazilian Central Bank on December 3, 2003.

c. On January 23, 2004, Fibra Projetos e Consultoria Econémica Ltda. was incorporated

d. On April 7, 2004, the incorporation of Banco Fibra International Ltd. in Nassau - Bahamas
was homologated by the Brazilian Central Bank, with an authorized initial investment of
USS 5,000 thousand. This process is pending approval by the Central Bank of the Bahamas.

loans of R$ 2,821 (R$ 4,510 in 2003,) in Banco Fibra-and R$ 5,071 (R$ 6,381 in 2003) in
Fibra Consolidated, amounts receivable from sales of assets in the amount of R$ 1,956 (R$
2,032 in 2003) in Banco Fibra and Fibra Consolidated, amounts receivable for settlement of -
operations totaling R$ 13,633 (R$ 4,790 in 2003) in Banco Fibra and R$ 21,178 (R$ 12,543
in 2003) in Fibra Consolidated, recoverable taxes in the amount of
R$ R$ 2,922 (R$ 3,191 in 2003) in Banco Fibra and R$ 5,199 (R$ 4,829 in 2003) in Fibra
Consolidated.

Current and long-term liabilities
Other liabilities - Other

Refers, mainly, to a provision for contingent liabilities totaling R$ 9,521 (R$ 9,887 in 2003)
in Banco Fibra and R$ 10,569 (R$ 10,944 in 2003) in Fibra Consolidated, and deferred taxes
in the amount of R$ 1,340 (R$ 11,124 in 2003) in Banco Fibra and R$ 6,034 (
R$ 16,246 in 2003) in Fibra Consolidated. Banco Fibra is discussing the legality of certain
lawsuits in which it appears as defendant. Based on the opinion of its legal advisors,

management does not expect significant losses from the outcome of such cases, apart from
the existing provisions. :
12 Foreign branches

The balances between the Nassau Branch and Banco Fibra, eliminated in the consolidated c. Other operating income

balance sheet, were as follows: cash and cash equivalents - R$ 91,199 (R$ 12 in 2003), interbank
funds applied - R$ 505,433 (R$ 265,228 in 2003), securities - R$ 7,946 (R$ 243,798 in 2003) and
deposits - R$ 296,568 (R$ 204,554 in 2003).

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

Other operating income refers mainly to allocation of expenses incurred by subsidiaries in the
amount of R$ 2,794 (R$ 3,139 in 2003) in Banco Fibra, and gains on renegotiation of
contracts in the amount of R$ 829 (R$ 2,601 in 2003) in Banco Fibra and Fibra Consolidated.

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

‘ a : snabrooar : MT ot Gut si sanisy Iie §
Notes to the financial statements : Notes t6 the financial statements

(In thousands of Reais)

The balances of operations undertaken by the Nassau branch, translated into reais at the exchange
rate of R$ 2.6544 (R$ 2.8892 in 2003), consolidated in Banco Fibra as detailed in note 2, were as

« (In thousands of Reais)
ad. Other operating expenses



follows: . as
‘ Refer substantially to expenses related to recovery of assets, in the amount of R$ 700
RS (R$ 571 in 2003) in Banco Fibra and R$ 1,208 (R$ 1,238 in 2003) in Fibra Consolidated and.
monetary correction of taxes payable in the amount of R$ 209 (R$ 190 in 2003) in Banco
2004 2003 Fibra and Fibra Consolidated.
t!
— e. Nonoperating results
Cash and cash equivalents ; 8,895 441 Bea E as ee
; ‘ Nonoperating income refers mainly to the net income arising from the sale of
iuertank noes pee nits See a? nonoperating assets and the respective provisions.
Securities and derivative financial instruments 713,432 1,133,151
Loans 25,044 44,957
Die arecivanles 7,901 ane 18 Income tax and social contribution
Other assets : 2,448 2,952
Deferred expenses 65 102 At December 31, 2004 the Bank recognized income and social contribution tax credits calculated
RS at prevailing rates, as shown below. These credits are recorded in assets under “Other receivables
- Other”, in view of the estimates of realization of the credits regarding Fibra Financial Group,
2004 2003 according to the expectation of taxable income, supported by technical studies.
Liabiliti Supported by technical studies related to realization of tax credits, the provision spreviously
De aad di it! 13.96 1.010 recorded for tax credits calculated over social contribution regarding Provisional Measure 2158- _
om epost 31965 ‘ 35 of August 24, 2001 was totally reverted, resulting in an increase of deferred tax credits in the
Time deposits 312,813 69,352 amount of R$ 11,530 :
Repurchase commitments 58,809 60,777 d ea,
Borrowings and repass borrowings 92,522 84,650 The amount of tax credits not recognized on tax loss carry forwards amounts to R$ 20,475 for
Derivative Financial Instruments 4,343 e Fibra Consolidated. The amount of tax credits over social contribution regarding Provisional
Other liabilities 1,059 104 Measure 2158-35 of August 24, 2001, amounts to R$ 4,765 for Fibra Consolidated.

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries Banco Fibra S.A. and Banco Fibra S.A.,and its subsidiaries ©

Notes to the financial statements Notes to the financial statements









(In thousands of Reais) (In thousands of Reais)
i i i i b Fibra Consolidated
13. Demand deposits, Time deposits (CDB/CD/RDB) and Interbank deposits Bance Fibra —_—___fitsn coon
(CDI) : ; : Balances at ‘ Incorporations Balances at Balances at Incorporations Balances at
Tax credits : 12/31/03 (Write-offs) 12/31/04 12/31/03 (Write-offs) 12/31/04
Funds by maturity dates Total tax credits from temporary
differences 12.647 (1.135) AL512 14,560 (2.104) 12.456
Fib: Fi lidated
a Banco Fibra bra Consolidate Allowance ‘ur loan losses 8,414 (1,121) 7,293 9,903 (2,057) 7,846
Demsnd sod Labor suits 856 (59) 797 856 (59) 197
other Time Interbank Total Demand Time Interbank Total Mark-to-market adjustments 3,305 (35) 3,270 3,729 (68) 3,661
deposit deposit deposit deposits deposit deposit deposit deposits Allowance for valuation of other 5 8 . a
Up to 30 days 34,457 229,582 72,653 «336,692 21,112 229,582 69,374 «320,068 ita Ssiicpailie ut 80 !
* - - 117,790 ‘ax loss and n iv sis for
sien ai : a .. : yen 7 a Ce - 63,454 social contribution 62,162 (14,564) 47,598 62,162 (14,295) 47,867
1 * 7 a 2 Social contribution - Provisional i
From 91 to 180 days - 369,183 264 369,447 - 369,183 : 369,183 x 15,504
From 181 to 360 days - 126,306 521,818 648,124 - 126,306 : 126,306 Measure 2158-35 of 24/08/2001 3,974 411,530 15,304 3.974 11.530
More thea 200 devs (2) eka 16408 7 46.473 - 46.473 ae 46.473 Total tax credits 78,783 (4,169) 74,614 80,696 (4,869) 75,827
Total 2004 34457 952.788 = 594,735 1,581,980 21112 952,788 69,374 1,043,274 Deferred tax liabilities (11,124) 9,787 (1339) (16.246) 10.212 (6.034)
Total 2003 26.684 856.111 255.721 1,638,516 26,388 = RSH LOO .914,409 Net idx credita 67,659 5,616 73,275 64,450 5,343 69,793
% of tax credits over (75% 15.58% 16.4%
3i H ‘ q : ‘ i Shareholders equity 16.3% 2% 5% .
(i) Time deposits maturing from 361 to 720 days, in the amount of R$ 40,955 in Banco Fibra and Fibra apai tas adic oics Assets risk ine 11% 11%

Consolidated, and maturing.in over 720 days in the amount of R$ 5,518 in Banco Fibra and Fibra Consolidated,

bear interest ranging from 18.4% p.a. to 31.5% p.a. Interbank Deposits in Banco Fibra. ; . ; :
. 7 u The expectation of realization of tax credits from temporary differences and tax loss carry

@) Other deposits refers to:invesinedt dopant and amount te: R379 forwards per year, and the respective present values, calculated according to average funding
rates, net of tax effects is as follows:
” Borrowings : Banco Fibra S.A.:
2005 2006 2007 2008 ~- 2009 Total
At December 31, 2004, foreign borrowing were represented by foreign currency funds raised from
banks, amounting to R$276,331 in.Banco Fibra and Fibra Consolidated (R$183,736 in 2003) Nominal value 18,949 16,586 18,385 16,148 4,546 74,614
bearing interest ranging from LIBOR plus 1.15% per year to prefixed rates of 5.7% per year. Present value 17,830 14,048 14,140 11,311 2,904 60,233

Distribution in terms of maturity

0t030 §=631 to 60 611090 = 91 to 180 181 to Up to
days days days days 360days 360days Total 2004 Total 2003
Banco Fibra and
Fibra Consolidated 12,658 7,065 97,469 122,859 8,532 32,748 276331 183,736

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries
Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries Notes to the financial statements
(In thousands of Reais)

Notes to the financial statements

(In thousands of Reais)










Fibra Consolidated :
2005 2006 2007 2008 2009

Total
Nominal value 19,528 17,065 18,417 16,188 4,549 75,827
Present value 18,214 = 14,292 14,166 ~—11,342 2,907 60,921

Income tax and social contribution were calculated as described in Note 4j.
‘The calculation of income tax and social contribution of Banco Fibra S.A. is as follows:

; 2004 2003
Income before income taxes and participation of

minority interests 60,126 138,141

(78.200)
59,941

Payment of interest on equity

Income before income and social coutribution taxes 60,126

Income (25%) and social contribution (9%) taxes (20,419) (20,380)


























Additions and deductions in the calculation of taxes:

Investments in subsidiaries 59,785 51,702
Distribution of profits of subsidiaries abroad (79,929) (77,564)
Reversal of social conmibution MP 2158-35 11,530 -
Realization of tax credits 9,785 16,377
Net nondeductible expenses of nontaxable income 585 ( 449)
Interest on equity received - 255
Others (1,248) (1351)

lacome tax and social contribution for the year (19,91) (3.410)

RBanco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

Notes to the financial statements

(In thousands of Reais)
19 Capital
Capital is comprised of 1,035,887,231 registered common shares, with no par value, paying a
minimum distribution of dividends of 25% of net income for the year, adjusted according to
prevailing legislation. The distribution of dividends is subject to approval by management at the
Annual General Shareholders’ Meeting, which can decide on the total or partial retention of net

income.

On February 12, 2004, the Brazilian Central Bank homologated the capital increase occurred on
December 30, 2003 in the amount. of R$ 66,470.

On April 29, 2004 and November 10, 2004, the General Shareholders’ Meeting decided on the
payment of dividends in the amount R$ 20,000 and R$ 7,000, respectively.
Related-party transactions

As of December 31, 2004 and 2003, the principal balances for related-party wansactions were as
follows:

Assets (liabilities) Income (expenses)
2004 2003 2004 2003

Securities and Derivative Financial

Instruments 643,302 724,818 184,316 275,846
Other Receivables 54 2,215 ~ 1,044 1,261
Deposits (525,381). (723,996) (74,627) (151,438)
Open Market Opezstions (23,926) - (102)

















Derivative Financial Instruments (48,653) (709)

(2,174) (151)

Related party transactions were performed under normal market terms and conditions and were
eliminated on the consolidation of the financial statements.

Banco Fibra S.A. and Banco Fibra S.A. and its subsidiaries

Notes to the financial statements

(In thousands of Reais)

Management of funds
Fibra Consolidated is responsible for the management of several investment funds and

investment portfolios. The net equity at December 31, 2004, amounted to R$ R$ 3,950,014 (RF
2,049,734 in 2003).

Other information

Basel agreement

The financial institutions should maintain shareholders’ equity compatible with the risk level of
the structure of their assets, weighted by factors ihat range from 0 to 300%, in accordance with
BACEN Resolution 2099/94 and later, regulations. .The shareholders’ equity required at

December 31, 2003, in conformity with the prevailing rules’ corresponded to 22.3% (21:6 "in|
2003) of the total weighted assets, whereas currently, the minimum required limit is 11%.

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9 pauses RRS TE IF CTE LEO AD RN TILT OE SLES SE



SEVERAL TO SILT 4 COIFOEES IE NL ROTTER LATEST

THE TRIBUNE

ve APRIL 18, 2005, PAGE 13B

P= Se



Wall Street plummets

over economic fears

@ By MICHAEL J.
MARTINEZ
AP Business Writer

NEW YORK (AP) — Wall
Street suffered its worst single day
in nearly two years Friday, with
the Dow Jones industrial average
falling 191 points for its third
straight triple-digit loss. Deepening
concerns over economic growth
and higher prices led to the worst
week of trading since August.

An already uneasy market
began the biggest one-day selloff
since May 19, 2003, after the Fed-
eral Reserve reported drops in
manufacturing and other industri-
al production, and a Labor Depart-
ment report showed higher oil
costs driving up import prices.

The selloff was bolstered by low-
er-than-expected profits from IBM
Corp., which led to fears that tech-
nology spending would be sub-
stantially worse than expected this
year. Strong earnings from Gen-
eral Electric Co. and Citigroup Inc.
were overlooked, but analysts said
earnings would nonetheless be a
key factor in overcoming the
recent slump.

Inflation

“Earnings are really the only
hope for this market,” said Brian
Pears, head equity trader at Vic-
tory Capital Management in
Cleveland. “If, on the whole, earn-
ings can go up, then we might be

able to overcome oil and inflation

and all the other things.”
According to preliminary calcu-

‘lations, the Dow fell 191.24; or 1.86

percent, to 10,087.51, after falling
125 points Thursday and 104 points
Wednesday. It was the Dow’s low-
est close since Nov. 2.

Broader stock indicators also
lost considerable ground. The Nas-
daq composite index dropped
38.56, or 1.98 percent, to 1,908.15
for its worst showing since Oct. 25.

The Standard & Poor’s 500
index was down 19.43, or 1.67 per-
cent, at 1,142.62, its lowest level
since Nov. 3.

All three indexes set five-month
lows for the second straight ses-
sion, prompted by disappointing

earnings in the tech sector and
questions about slowing economic
growth. With Friday’s losses, it was
the first time the Dow lost 100
points three sessions in a row since
late January 2003.

For the week, the Dow lost 3.57
percent, the S&P 500 was down
3.27 percent, and the Nasdaq tum-
bled 4.56 percent. The major
indexes are also at their lowest
points of 2005, with the Nasdaq
down 12.29 percent, the Dow
falling 6.45 percent and the S&P
having lost 5.72 percent.

Bond investors were pleased
with Friday’s results, however, as
the bond market continued to ral-
ly. The yield on the 10-year Trea-
sury note fell to 4.24 percent from
4.34 percent late Thursday. The
dollar was mixed against other
major currencies, while gold prices
moved higher.

Crude oil prices were lower and
continued a two-week downtrend,
with a barrel of light crude settling
at $50.49, down 64 cents, on the
New York Mercantile Exchange.

The recent drop in crude futures
notwithstanding, higher oil prices
are to blame for the jump in import
prices, the Labor Department said.
Import costs rose 1.8 percent in
March, but even without oil, prices
rose 0.3 percent, more than the 0.2
percent rise economists had
expected.

“There’s a lot of evidence that
when we have oil averaging $53
or $54 per barrel, that’s inflation-
ary, and we got a whiff of that
today in the import prices,” said
Peter Cardillo, chief strategist and
senior vice president with S.W.
Bach & Co. “It doesn’t help that
we're starting to see the economy
enter a slowing mode heading into
the second quarter here.”

Investors looking at the Fed’s
industrial output report also ques-
tioned whether higher energy and
materials costs were affecting man-
ufacturing growth as well. Overall
industrial production rose 0.3 per-
cent in March, up from 0.2 per-
cent in February, but the increase
came only from utility production
due to a colder-than-average
month, and manufacturing and
other industrial sectors showed

losses for the first time in six

Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No 45 of 2000)

KAKA INVESTMENTS LIMITED

InVoluntary Liquidation

Notice is hereby given that in accordance with Section 137 (4)

of the International Business Companies Act No. 45 of 2000,
KAKA INVESTMENTS LIMITED. is in Dissolution.

The date of cominencement of dissolution is 11th day of March,

2005.

Pamela Hamer,
For & On Behalf of
C.C.S. Directors Limited,
of Akara Building, Suite 8,
Wickhams Cay 1,
Road Town, Tortola, BVI
Liquidator



months.

IBM said an inability to close
deals before the end of the quarter,
combined with higher pension
costs, dragged on its earnings. The
technology company, which missed
Wall Street forecasts by. 6 cents
per share, hinted at a major
restructuring this year. IBM tum-
bled $6.94, or 8.3 percent to $76.60,
and was the biggest loser on the
Dow.

General Electric rose 25 cents
to $35.75 after the industrial and
media conglomerate reported a 25
percent jump in first-quarter prof-
its, with nine of the company’s 11
disparate divisions reporting dou-
ble-digit growth. The company’s
forecasts for the second quarter |
and full year were in line with Wall
Street’s estimates.

Citigroup beat Wall Street’s
expectations for its quarterly prof-
its by 2 cents per share, with prof-
its rising a modest 3 percent year-
over-year. The financial company
also said its board had authorized
the repurchase of an additional $15
billion in stock. Citigroup added
35 cents to $45.75.

Drug

The lagging pharmaceutical sec-
tor'saw new life after Genentech
Inc. reported strong results from
trials of its Avastin drug in breast
cancer patients, and Ely Lilly &
Co. received a favorable patent
tuling on its best-selling anti-psy-
chotic drug Zyprexa. Genentech
surged $10.72, or 18.3 percent, to
$69.35, while Lilly climbed $2.91 .
to $58.07.

Declining issues outnumbered
advancers by more than 4 to 1 on
the New York Stock Exchange,
where preliminary consolidated

_ volume came to 2.71 billion shares,

compared with 2.38 billion on
Thursday.

The Russell 2000 index of small-
er companies was down 11.16, or
1.89 percent, at 580.78. The Russell
lost 4.91 percent this week and is
down 10.86 percent for the year.

Thursday’s losses in U.S. mar-
kets had a ripple effect overseas, as
the Nikkei stock average fell 1.66
percent. In Europe, Britain’s FISE
100 closed down 1.09 percent,
France’s CAC-40 lost 1.92 percent
for the ‘session, and.Germany’s
DAX index tumbled 2.04 percent.



The Dow Jones industrials end-
ed the week down 373.83, or 3.57
percent, finishing at 10,087.51. The
S&P 500 index lost 38.58, or 3.27
percent, to close at 1,142.62.

The Nasdaq fell 91.20, or 4.56
percent, during the week, closing
Friday at 1,908.15.

The Russell 2000 index, which
tracks smaller company stocks,
closed the week 29.97, or 4.91 per-
cent, lower at 580.78.

The Dow Jones Wilshire 5000
Composite Index — a free-float
weighted index that measures 5,000
U.S. based companies — ended
the week at 11,246.79, off 387.80
points from last week. A year ago
the index was at 11,078.10.

The Wilshire 5000 dropped
446.24 points, or 3.82 percent, in
the past three sessions, the largest
percentage drop since Nov. 11,
2002, when the total-market index
fell 5.1 percent.

SCHOLARSHIP FOR MARITIME STUDIES

The Bahamas Maritime Authority and the Bahamas Shipowners
Association are both offering attractive scholarships to young.
academically sound Bahamians who are keen to train for an exciting
and challenging career in the Shipping Industry which is gaining
increasing national importance.

The scholarship is inclusive of tuition, fees, course material,
accommodation and transportation cost. Commencing i in September
2005, successful candidates will follow a four (4) year degree
programme at the California Maritime Academy in the United States.
Upon completion of the degree, the qualified officers will be expected
to serve on board a Bahamian flagged vessel for at least 2 years.

Applicants should possess or expect to attain a minimum of five (5)
BGCSE passes, including Maths, Physics/ Combined Science and
English Language, at grade ‘C’ or above and a minimum combined
SAT score of 1000. All applicants must be physically fit and possess
good vision.

Further information and application forms can be obtained from Mrs.
Erma Rahming Mackey, Assistant Director, Bahamas Maritime

Authority,. P.O.Box N-4679,

Nassau, Bahamas,

email:

emackey @bahamasmaritime.com, tel: 394-3024, fax: 394-3014.
Completed applications must be submitted in person or by post, with
copies of academic certificates and proof of Bahamian citizenship,
no later than Monday, 2 May 2005. Interviews will take place in

Nassau in June.


PAGE 14B, MONDAY, APRIL 18, 2005 TRIBUNE SPORTS



Â¥



Tare









IIR Irae ;
TINTS a W a S pu Lond te ant :
Ts agi :
Hi By BRENT STUBBS ms
Senior Sports ‘s
Reporter =
THE defending champi- S
| ove Electro: Feleenina vila: @ By BRENT STUBBS behind the undefeated defend- He connected on a two-run Thompson, as he waited patient- Thompson stressed. oe
ateataln: aniission this Senior Sports Reporter == ing champions TBS Truckersin homer to highlight a four-run _ly to hit the ball against Mighty The Arawaks now look ahead

first inning and he duplicated the
feat in the fifth as the game was
eventually stopped via the ten-
run rule.

Mitts’ losing pitcher Alphonso
‘Chicken' Albury. "The first one,
I didn't realise that it was gone
until it hit the fence. But the sec-
ond one, I knew it was gone."

to a bigger challenge on Thurs-
- day night when they will play the-.
electro Telecom Dorcy Park”:
Boyz, who are expected to show-
case the brothers pitching and=:

the men's standings in the New
Providence Softball Association.
The Mighty Mitts continued to
struggle at the other end of the
standings with their second

year and there seems to be
no team that can stop them.

On Saturday night at the
Churchill Tener Knowles

CHAVEZ Thompson had
two hits - both two-run homers -
to help the Delsol Arawaks blast
the Pot Pourri Mighty Mitts 14-4



| National Softball Stadium, | _ in five innings on Saturday night straight loss to the league's top Pati Thompson said the Mighty catching tandem of Edney ‘the
the Wildcats passed anoth- at the Churchill Tener Knowles _ two teams. atiently Mitts made them play. Heat' Bethel and Edmund
er hurdle in the battle of the | National Softball Stadium. Thompson had a rare offen- "The pitcher put it right there. "They brought the competi- _'Binks' Bethel.

New Providence Softball
Association ladies' unde-

tion to us in the first two innings,
so we stepped up our play,"

"Delsol faced Edney before in’

With the victory, last year's
Grand Bahama when he beat us:

runners-up stayed a half game

sive night, going 2-for-2 with five

E There was no way I was going
runs batted in and scoring twice.

to pass up a fast ball," said





feated teams with a 13-6 tri-
umph over the Randella's
Swingers.

With the win, the Wild-
cats remained on top of the
standings at 4-0, while the
Swingers dropped to 3-1 for
second.

"It feels good to be 4-0
because last year we started
off slow, but this year we
have a good start," said
Jack Davis, of the coaches
for the Wildcats. "But I'm
still not pleased with our
performance. We played
around a bit, but as the sea-
son progresses, we will play
much better.”

Contest

The Wildcats seemed to
be all business in the first
three innings as they bolted
out to a comfortable 9-2
lead and were heading for
an early night. But they
squandered four runs in the
fifth as the Swingers made it
a contest down the stretch.

However, Mary 'Cruise'
Edgecombe bowed down in
the final two innings and
held Randella's bats at bay
to keep their perfect season
intact.

Edgecombe went the dis-
tance throwing a five-hitter,

- striking out four for the win.



Desiree Taylor surrendered
10 hits and struck out three
for the loss. -_

The Swingers broke the
ice, coming up with the
game's initial run in the bot-
tom of the first on centre
fielder Neressa Seymour's
run-producing single that
plated second sacker
Rebecca Moss.

But the
responded with three runs
on a pair of hits in the top
of the second, highlighted
by a two-out, two-run single
from right fielder Jackie 'Lil
Stunt' Moxey.

Electro Telecom put the
game out of reach in the
third when they produced
another six runs for a com-
manding 9-1 lead. As they
batted around the clock,
Edgecombe helped her own
cause with a RBI single and
shortstop Melinda Bastian
produced a three-run in-
the-park home run, fol-
lowed by Shera Woodside's
RBI single.

Solo

Randella's came up with
another run in the bottom
of the frame as catcher
Dorothy 'Dot' Marshall
showed that she had some
speed too as she came
through with a two-out solo
in-the-parker to cut the
deficit to 9-2.

In the fourth, the Wild-
cats put another run on the
board, thanks to an error
that put catcher Dornette
Edwards on base, scoring
second sacker Hyacinth
Farrington, who had led off
the inning with a walk.

Then in the fifth, the
Wildcats got two unearned
runs from first sacker
Renee ‘Sunshine' Curry,
who led off with a double
and Jackie Moxey, who fol-
lowed with a fielder's
choice. But they didn't pro-
duce sufficient runs to stop
the game.

And the Swingers made
sure that they would end up
playing seven full innings
when they responded with
four runs on a pair of hits in
the bottom of the frame.

First sacker Debbie
Forbes came up with a one-
out two-run producing sin-
gle and she caught a ride
home on left fielder There-
sa Miller's two-run in-the-
parker to make it a contest
for the fans who stayed
behind.

Wildcats.

@ TRACK

BAAA'S NATIONALS

THE Bahamas Association of Athletic
Associations completed its National High
School Track and Field Nationals on Sat-
urday at the Grand Bahama Sports Com-
plex. The three-day meet turned out to be
a competitive one.

As usual, there were no divisional win-
ners decided, but three unofficial records
were broken during the competition.

© However, here are how the divisions
were decided:

Girls under-15

Catholic High 92; Queen's College 81;
CH Reeves 74; HO Nash 59.

Girls under-17 —

Sunland Lutheran 122 1/2; CR Walker
119; Catholic High 105; CI Gibson 73 1/2.

Girls under-20

CR Walker 146 1/2; CC Sweeting 105
1/2; Catholic High 94; St. George's 78.

Under-15 boys

CH Reeves 129; Sir Jack Haywood 70;
Tabernacle Baptist 52; Queen's College
44.

Under-17 boys

CC Sweeting 75; CR Walker 74; St.
George's 70; Sunland Lutheran 65.

Under-20 boys

CR Walker 138; Eight Mile Rock 97;
CC Sweeting 85; CI Gibson.

# BASKETBALL

NPBA PLAYOFFS

The New Providence Basketball Asso-
ciation, who will have to seek a new pres-




i LEEVAN SANDS popped a
winning leap of 25-feet, 9 1/2-inch-
es for his victory in the long jump.

(FILE Photo: Felipé Major/
Tribune staff)

SOM Meo



ident at the.end of the month, continued
its playoff action on Saturday night at the
CI Gibson Gym. The league had to move

‘from the AF Adderley Gym.
In the division II opener, the Sunshine.

Auto Ruff Ryders knocked off the Rock-
ets 76-71 to pull off a two-game sweep in
their best-of-three series. In the division
one feature contest the Commonwealth
Bank Giants swept the Sunshine Auto
Ruff Ryders ina 89-81 decision.

Action will continue tonight at 7:30
when the action returns to the AF Adder-
ley Gym.

@ BSC CHAMPIONSHIPS .

The Baptist Sports Council will begin its
2005 best-of-three basketball champi-
onship on Tuesday night at the Baillou
Hills Sporting Complex with Mount
Tabor taking on Evangelistic Centre in
the men's division. |

Game two will be played on Thursday
immediately after game one of the 19-
and-under championship between defend-
ing champions First Baptist and Mace-
donia.

On. Saturday at the same venue, First
Baptist and Macedonia will play.in the
15-and-under championship and defend-
ing ladies' champions Macedonia will play
Golden Gates.





@ SOFTBALL

NPSA SCHEDULE |

The New Providence Softball Associa-
tion has released its schedule of games
for this week at the Churchill Tener ©
Knowles National Softball Stadium.

Tuesday

7 pm. Whirlpool vs Proper Care Pool
Lady Sharks (L)

8:30 pm TBS Truckers vs New Breed
(M).

Thursday
( in Nassau Cruisers vs Mighty Mitts

M

8:30 pm Blecto Telecom Dorcy Park
Boyz vs Delsol Arawaks (M).

Saturday

7 pm New Breed vs Electro Telecom
Dorcy Park Boys (M). :

8:30 pm Proper Care Pool Lady Sharks
vs Degeo Bommers (L).

& SOFTBALL CLINIC

The New Providence Softball Associa-
tion is inviting all of its umpires, man-
agers, coaches and players to attend a
clinic tonight at 7:30 at the Churchill Ten-
er Knowles National Softball Stadium.
The clinic is expected to be conducted by
International Softball Federation's Hall of
Famer: Arthur Thompson on the rule

changes.



mark of 5.65.

24.46.

31st in 25.90.

1:01.18.

FIU,

50.29.

ninth place.

of Florida.

FROM page one

winning time was 24.27 by Stephanie Gebhart: f
from South Dakota.

However, Newbold was ninth eversllt in the
women’s 100 i in 12.41. She didn’t advance to the
final. The eighth and final qualifier ran 12.39.

@ ARNETT-WILLIE

TOPPED BAHAMIAN FIELD

At the Gatorade Invitational at the University
of Miami, Phyllipa Arnett-Willie produced 11.79:
for fifth in the women’s 100 that was won by
Sheri-Ann Brooke of FIU in 11.24.

Tamara Rigby, competing for Florida Memor- }
ial, was eighth in 11.86 with Lisa Mortimer com-
ing in 16th in 12.25.

In the 200, won by American Olympic silver
medalist Lauryn Williams in 22.53, Armett-Willie.
came in seventh in 23.95. i

- Rigby was ninth in 24.15, while her team-mate '
Angeline Villarceau was 25th in 25.54. Mortimer
was 29th in 25.84 and Cache Armbrister came in

Oneil Williams was the lone Bahamian repre-
sentative in the men’s 800, running 1:56.69 for

in the Nationals," said Thompson‘:
of their trip to the Bahamas Soft-
ball Federation's National Cham-:.:
pionships when they won the:
NPSA crown two years ago.
"Although he won the game,
he realised that Delsol are a good:
hitting team. So we're ready for:
him this time." re

Runs eS

Delsol, no doubt, were readyi=:
for the Mighty Mitts as well, scor-«:
ing four runs in the first, three”:
in the second and third and:
another four in the fifth.

In addition to Thompson, the«:
Arawaks got a 3-for-4 night with®.
two RBIs and three runs from“
Thompson's younger brother;+;
Michael. Julian Collie also home:
red with a solo shot to lead off a:
three-run second and he finished:
with a 1-for-2 night with three:
runs scored. Angelo Dillet
helped out with a 2-for-3 perfo
mance with an RBI and thre
runs.

Andre 'Star' Wood Sr stoo :
out for the Mighty Mitts with a
perfect 2-for-2 production, scor-i
ing a run.

Cardinal Gilbert picked up the*
win on the mound with a six-hit-_
ter, walking four and striking out~"
as many batters. He also give us
just two earned runs. Alphonso
Albury, on the other hand, was
tagged for 11 hits with six walks’
and 10 earned runs.





















id
%.
vr



a

Mi MARTIN SECOND sires oes
At the 9th annual Tom Botts Invitational ats
the Audrey J. Walton Stadium in Colombus Mousouri, Donnavette Martin produced a sec,
ond place finish in the women’s long jump with at
leap of 5.62 metres. Tracy Partain won with. ad

os

Martin also took to the track, running ninth |
place in the women’s 100 in 12.40. Genna ‘Williams
won the race in 11.71. Martin was also sixth in the
200 in 26.87. The event was won by ee Many in

j
4
i
4
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In the 400, which was won by Charlette
Greggs from Miami in 52.71, Villarceau was |
15th in 59.73 and Armbrister came in teens in’

The Rigby twin sisters - Tamara (on lead off), :
Tavara (on second) - and Villarceau (on anchor)
teamed up with Zindzi Swan for eighth in the 4x
100 relay in 48.17 for Florida Memorial.

The Rigby sisters - Tavara (on lead off) and {
Tamara (second) - teamed up with Villarceau
(anchor) and Octavier Spencer for fourth as well |
in the 4 x 400 relay i in 3:58.40.

In the men’s 100, Dereck Carey was 13th in
10.84 and Tyrone Sawyer got 21st in 11.06. The
winning time was 10.19 by Kevon Puerre from

The men’s 400, won by Bernard Middleton of:
Florida in 46.56, saw Tim Munnings clocked 47.80 *
for seventh. Von Wilson was eighth in 48.10; Carl
Rolle 10th in 48.67 and Darron Lightbourn 14th in

The winning time was 1:49.41 by Moise
Joseph. Ednol Rolle also competed, finishing sev-
enth in the men’s 400 hurdles in 53.35. os


TRIBUNE SPORTS . . MONDAY, APRIL 18, 2005, PAGE 15B

SPORTS





ae
>» ©) 2”
Rivals set to contest FA Cap Final







-— “Copyrighted Material 4

<7





Nadal beats det ding champion —
to take Me wie Cour Upen tithe

-——- - -- —-_ or - =< —_ =
lr ae ow -— os | —_—_— => — — > — —ii
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MONDAY, APRIL 18, 2005

SECTION

Fax: (242) 328-2398

E-Mail: sports@100jamz.com



ers



ATs

All the

weekend

softball action
DS def (6 [eed =!





Bahamian
athletes

— get off
Or mi\an

@ By BRENT STUBBS
Senior Sports
Reporter




IT WAS a good season
opener in their specialities
for sprinter Dominic
Demeritte and long
jumper Leevan ‘Super-
man’ Sands at the 26th Sun
Angel Classic.

Competing unattached
at the Joe Selleh Track in
Tempe, Arizona,
Demeritte won the 200
metres in a time of 20.69
seconds.

It was the same time
posted by Kelvin Love of
Arizona State, but
Demeritte was able to nip
him out in the photo fin-
ish.

Everette Fraser compet-

ing unattached, was 11th
in 21.67. Fraser was also
fifth in the 100 in 10.60.
_ Sands popped a winning
leap of 25-feet, 9 1/2-inch-
es for his victory in the
long jump. Trevell Quin-
ley of Arizona State was
second with 25-5 1/2.

Sands did 25-7 1/4 for
the leading mark in the
qualifying round. He was
followed by Quinley with
25-5 1/2.

Meanwhile, a host of
other Bahamians compet-
ed in a series of meets
across the United States
over the weekend. Here’s
a look at where and how
some. of them competed:

@ IFILL QUALIFIES
FOR REGIONAL
Sophomore Grafton Ifill

II won both the men’s 100

and 200 for the University

of Pennsylvania and also
competed on their second-
place 4 x 100 relay team at
the William Weaver Stadi-
um.

Ifill II ran the fastest

time by a Quaker since

1984 when he clocked

10.42 in the 100, qualifying

for the NCAA Regionals

in the event. His time was
the fourth fastest in Penn
history. He also won the

200 in 21.31 for the seventh

fastest in the University of

Pennsylvania history.
And Ifill TI helped his 4 x

1 relay team, running the

second leg, as they finished

second in 42.03.

@ AMERTIL SECOND
_ At the Sea Ray Relays,
Christine Amertil ran 23.00
for second overall behind
Shalonda Solomon in the
women’s 200 invitational.
Amertil won the second of
three heats in the event.







































































& NEWBOLD THIRD

At the Godfather’s D II
Challenge at the Emporia
State University, Shantel
Newbold, competing for
Central Mississippi, came
in third in the final of the
women’s 200 in 25.07. The

SEE page 14B









@ By BRENT STUBBS —
Senior Sports Reporter

CLOSE buddies Don Boor-
man and Mike Toporowski
will go down in the history

books of the Bahamas Golf

Federation as the first winners
of the Ken Francis Golf Clas-
Sic. fh

The duo, who have played
together for more than a
decade, pulled off the fi
with a combined score of:60.20
to win the title on Sunday at







Golf Club.
“It’s fantastic,” said B
man,

Hill Nursery on Bernard

Road. “Mike drove the ball
extremely well and my ‘short
game was good as it could be
and we were able to get the
ball in the hole.”

Their performances left the
team of Daryl Merchant and

# MIKE TOPOROWSKI (left) and Don Boorman in action - (Photos: Felipé Major/Tribune staff)

Jack O’Conner behind in sec-
ond place at 60.95. George
Swann and Andrew Jackson
had to settle for third with
61.15.

The team of Fred Wright
and Milford ‘Shaggy’ Lock-
hart, however, picked up the
victory in the gross category
with a 61.90.

Toporowski, the owner of
Re/Max Nassau Reality, cred-
ited their success to the
way the course was so well
kept.

Superb

“The condition of this
course was just great. They
did a superb job,” Toporows-
ki noted. }

The duo took advantage of

the course’s manicure by
birdying the first four holes.
They capped off the perfor-
mance by hitting all of the par-

five holes coming into the
clubhouse.

“Golf is where you take it,”
Toporowsko insisted. “We
played the course as well as
we could.”

Toporowski, a former
national team player, said they
will dedicate their perfor-
mances to the junior develop-
ment programme and he
called for more support for
the younger players.

They also both indicated
that they were thrilled to be
the first champions of the
tournament that honoured
Francis, a man whom
Toporowski felt did a good
job in promoting the sport
when he served as editor of
the Nassau Guardian.

About 108 golfers partici-
pated in the tournament,
which tournament director
Wayde Bethel stated, will

become an annual event on>

the BGF’s calendar.

“It went very well. It was
almost challenging for us
because after we didn’t get to
host it last year because of the
hurricanes — we had more
people than we anticipated
coming out this year,” Bethel
stressed.

Appreciation

“Persons were very eager to
show their appreciation to Mr
Francis. We had some very
good scores and the weather
was just perfect for the hosting
of the tournament.”

Bethel teamed up with Ken
Brathwaite, but they didn’t
fare as well with a gross of 69.
Bethel said they didn’t play as
well as expected because he
was busy running the tourna-
ment.

Richard Gibson, the resi-
dent pro and assistant golf



-director at the Radisson Cable
Beach Golf Club, said the
tournament was a good show -
of appreciation for Francis.
“I didn’t expect the large
amount of turnout that we got.
Everybody turned out to sup-
port him,” Gibson stated. “It
was a good tournament.”

B OTHER prizes
offered were:

Men’s division: Eddie
Carter - longest drive on hole
eight and Ian Bayles - near-
est to the pin on hole nine.

Ladies’ division: Giselle
Pyfrom - longest drive‘on hole
#13 and nearest to the pin.

Junior girls: Eugenia
Adderley - longest drive,

Junior boys: Richard Gib-
son Jr - longest drive on hole
#7 and Ben Davis - nearest to
the pin on hole #12.
MONDAY, APRIL 18, 2005



PEOPLE

The recently announced billion dollar
Baha Mar Cable Beach deal is the
“wrong deal” for the country and has
come “at the wrong time”, FNM chair-
man Carl Bethel claimed last week. At
a meeting of the Golden Gatés con-
stituency association of the Free Nation-
al Movement, Mr Bethel said that while
there is tremendous opportunity for a
realistic, practical and well thought out
investment in Cable Beach, the project.
agreed to by the government does not

The jitney driver who allegedly attempted to assault a
15-year-old passenger on Saturday was released on
$5,000 bail and has had his public driver’s licence sus-
pended after appearing in magistrate’s court last Mon-
day. Andrew Johnson appeared before Magistrate Mar- '
ilyn Meeres and was charged with one count of indecent
assault. It is alleged that Johnson inappropriately touched
the young girl while she was a passenger on his bus on
Saturday, April 9, forcing her to jump out of the moving
-vehicle and run to safety. As a result, she received mul-
tiple injuries to her stomach and arms. Johnson pleaded
not guilty to the hares oe was granted $5,000 bail

MPs last week dealt with a res-
olution in the House of Assembly
which would allow the. govern-
ment to borrow almost $17 mil-
lion to replace funds used for
repairs following hurricanes tt
Frances and Jeanne.

The funds would be loaned by
the Inter-American Develop-
ment Bank and would be
returned to the public treasury
Mr Christie explained ...

accomplish this ...







effery COOPER is a driven,
determined and - his admirers
believe - genuinely commit-
ted man. His cause is simple:
to clear Abaco of a Haitian
presence which, he says, threatens to
destroy it.
~'Thirty-two years ago, Abaco was the

- Centre of a secessionist movement intent
on‘ retaining the island’s British colo-
nial status in the face of Bahamian inde-
pendence. Today, says Mr Cooper, it
isin danger of becoming a colony of
Haiti, the most destitute, chaotic nation
in the western world.

“Uncontrolled immigration has, he
says, left Abaco in a desperately vul-
nérable state, with the prospect of
wholesale “creolisation” not only a. pos-
sibility, but a. near certainty over the
next feW years.

If Mr Cooper’s assessment of the
island’s plight is anywhere near the
truth, the situation is dire indeed, with
Haitians already outnumbering Bahami-
ans in the schools and local culture in
real jeopardy from alien invaders from
the south.

_Mr Cooper stresses from the outset
that he has no hostility to Haitians as
people, and no wish to appear inhu-

‘mane. He is not, he says, a race cam-
paigner with hate in his heart, but a
concerned Bahamian who believes
Haiti’s diaspora will ultimately under-
mine Abaco as a Bahamian society to
‘the point of extinction.

“T am doing this for my children,” he
told INSIGHT as he outlined what he
sees as the horrendous scenario taking
shape around him.
| Mr Cooper, a middle- -aged photog-

; rapher and entrepreneur who lives at
Cooper’s Town, says Haitians are now
so well-established and rooted in Aba-
co that removing them completely will
be nigh impossible: But he says urgent
government action is crucial if the situ-
ation is to be contained.

; The problem, in his view, is that
Haitians have become so confident of
their position on the island, so assured
of their role at the bottom end of the
Abaconian economy, that they are defy-
ing Bahamian laws to establish them-
selves ultimately-as the dominant force.
| It would’be easy to dismiss him as an
irrational alarmist if the evidence for
4t least some of his claims were not so

compelling.

At Marsh Harbour, Abaco’s “capi-
tal”, the existence of the two huge slum
settlements, The Mud and Pigeon Pea,
where thousands of Haitian immigrants
live in a festering muddle of down-at-
heel shacks, testifies to the scale of the
problem.

'. Mr Cooper says these two unsightly
settlements, where dangerous power
lines hang like trimmings between
buildings and residents relieve them-
selves in holes in the ground, are mere-
ly-the tips of an enormous problem
which is probably already beyond the



o
2
uw
1x
e
=

he Lone
ow one man seeks to hold back the Haitian hordes

saga to act as “markers” for new



with two sureties .. 1



They call him the “ one-man crusade”, an activist |
with a mission. He is determined to halt the spread .
of Haitians in Abaco, an island which he says is under -
threat from an alien culture. INSIGHT reports...

point of no return.

In the Sandbanks and Farm Road
areas, he says, a new “city” of ram-
shackle huts has appeared, where
Haitians are using old power-lines to.
fence off areas of Crown land as their
own. One woman has already built two

_ homes on land which isn’t hers to rent

out to fellow immigrants. Others are

‘hard at work with hammers and nails to

cobble together more simple wooden
dwellings in which, he says, they will
continue to reproduce at an alarming
rate to the detriment of the Bahamian
communities all around.

“None of these buildings are up to
code,” said Mr Cooper, “Yet if I tried to
build a wash-house in my yard, the
authorities would be down on me in no
time. Nothing is being done to restrict
the spread of immigrants. In ten years
time, Abaco will be called Haiti and
that will be the finish.”

Passionate in pursuit of his cause, Mr
Cooper says Bahamians must act now
or suffer the consequences. The gov-
ernment must display the will and
courage to take the matter in hand, he
believes.

A few weeks ago, the dogged cam-
paigner made headlines when he partly
dismantled a newly-built Haitian shack.
There was no family there to be dis-
placed, so he did what he thought need-
ed to be done as a gesture of Bahamian
defiance.

However, the building is now ; fully
occupied, in spite of having no floor.
A Haitian family has moved in with all
their worldly possessions. Down coun-





ll MAN WITH A MISSION —
_Mr Jeffery Cooper

try byways, deep in the bush, homes
are springing up in substantial numbers,
he claims. Like a cultural tsunami, the
Haitian diaspora appears to be an irre-
sistible force, carrying all before it.

Mr Cooper feels he is probably the

only Bahamian in Abaco willing to step’.

up to the plate in an effort to curb the
creolisation process. But he says if oth-
er Bahamians don’t back him, they:-will
be betraying future generations as the
Haitian tide engulfs the nation.

The problem, as he and other Aba-

conians-see it, is that the Haitian
invaders are not intent on assimilation
and absorption, they are creating a
“sub-economy” and “sub-culture” out-
side the confines of the host sociéty..



@ MOTOR vessels at Marsh Harbour, where they load used cooking | |
oil and other discarded items for the voyage back to Haiti.

ising * marketing

public relations * promotions

placement * web hare
Ai RS

Worse still, islanders claim, many :

Haitians see themselves as being outside
the law. The most graphic illustration of
this is the rampant house-building
process, which appears to take no
account of land ownership or planning
regulations.

Repeatedly, half-hearted efforts have ~

been made to stop the spread of these

_hastily-constructed homes. But the

Haitians, either through sheer cussed-

ness Or pure ignorance, are continuing
to spread. across Abaco, clearing new -
areas of bush to accommodate their

humble homes.
In the:procéss, according to Mr Coop-

er, they are degrading the land, poi- -

soning the water table, and imposing a

’ peasant lifestyle on an island which
'. prides itself on being one of the most

economically and socially advanced i in
the Bahamas.

“They throw diapers and other rub-
bish everywhere,” said Mr Cooper. “It
is sickening what is happening on this
island.”

Now Mr Cooper is to approach Prine

_ Minister Perry Christie and Works Min-

“ister Bradley Roberts in a determined
effort to secure government involve-
ment in his lone mission.

“I am trying to wake up the govern-
ment, and wake.up.the Bahamian peo-
ple,” Mr Cooper told INSIGHT. “The
whole of Abaco appears to support me,

. but I am the only one speaking out. It’s

time:to-act.”

The Ministry of Works has a fesident.
engineer in Abaco, Mr John Schaeffer.

But he is a Canadian who, according

-. to Mr Cooper, is not getting the level of ©
support he needs to halt the house-:

building problem in its tracks. Mr Coop-
er says regular house inspections are
needed, backed up by a genuine will to
dismantle all those homes, deemed to

have been built outside planning laws. | -
“*~Then, He-said, there needs to bea
proper census of the Haitian popula-’

tion on the island. According to him,
they already outnumber Bahamians five
to one, a figure some might find hard to
believe. However, he claims it’s accurate
and he sounds convincing.

Moreover, he says, the situation is
worsening by the week, with illegal
immigrants being landed in remote

-areas during the night. Meanwhile, links

with Haiti are being cemented by crude-
ly-built motorised vessels which, he says,
arrive in Marsh Harbour at regular
intervals to conduct what appears to be
legitimate trade.

He also claims that residents of The
Mud and Pigeon Pea fly kites over the

Siena

NGAI Ie yagle [ton deer
The Arawak Group * Arawak Avenue | * ‘AO. Box $s 5698 8 » Nassau, Bahamas * Felt 242,

sader

arrivals who might have lost their way in
the bush. “They are writing to their
~-families back home and urging them to
come,” he says. “The process is ongoing
. and very alarming.”

. So why are Abaconians apparently
so docile in allowing such an imposi-
tion?

. Firstly, some acknowledge that

‘ ‘Haitians are a crucial part of the flour-
_ishing Abaconian economy. They say

Haitians install themselves at the bot-
tom end of the island pecking order,
doing all the menial jobs Bahamians
refuse to.do. Without them, Abaco’s
progress would. be thwarted.

Secondly, according to Mr Cooper,
many Bahamians are terrified of being
“fixed” by Haitian: witchcraft. Yes, it
sounds crazy, but Mr Cooper insists it is

_ true, and others concur.

“Everyone is scared of obeah,” he
told INSIGHT, “It.seems to me that
Haitians are holding the Bahamas
hostage through obeah. Haitians have
made threats to many people, but Iam
not afraid. I don’t believe in obeah. I
believe in God Almighty.”

He said the threat of witchcraft was
potent on Abaco. “It is idiotic, but that’s
how. many people think. They think
Haitians are dangerous, but my view is
that if these people are dangerous, why
do we allow. them into our country?”

Mr Cooper admits he is seen by some

_-as “a walking star” in Abaco, the hero
of an anti-Haitian offensive, but he

insists none of his actions are inspired
by hostility to Haitians as people. He is

eager to dispel any notion that he is

engaged in a'witch-hunt, whatever his

fears: about the obeah menace.

As father of two young children, he
says he wants to preserve the Bahamas
as a recognisable. cultural entity, not a

colony | of: Haiti, a land whose utter fail-
ure over two centuries of self-rule has
‘condemned it to penury and desolation.

“What. saddens me is that some

_. Bahamians are helping this process by

taking bribes from Haitians, providing
bogus work permits and such like,” he
said.

“These people are willing to sell out
their own country for a bunch of mon-
ey. But.we have to beware. I know there

“are at least two gangs in The Mud and

Pigeon Pea and they have a lot of

- Weapons,

“There are hostile young men in

there and we need to root them and

the weapons out from house to house.
The Haitians are taking over our
schools, our medical system and our
clinics. Some are so serious about taking
over that they are fencing off their own

areas of land. Where will it all end?”

Mr Cooper has been called The Lone
Crusader, but in truth his views are
echoed elsewhere, though less notice-
ably. He voices his views on Radio Aba-

See MISSION, Page 2C

aia i at Slo lkexya tole) efy,
ACA AAR NANO LRT,
hank laps, shorts
Rory eNale LA atl UaIDSe
MBAS -Me Ta RCLonal


PAGE 2C, MONDAY, APRIL 18, 2005

IAE TRIBUNE





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ead
ry

our article

about Har-

bour Island

and the vari-

ous problems
encountered by its people was
unfortunately true in many
respects.

For many years now, Har-
bour Island has been tainted
by money, and it has created
divisions between various sec-
tions of the population.

Those who say it’s the
greatest place in the Bahamas
need to reconsider their ver-





Mission (From page 1C)

co and to anyone who will lis-
ten. Others are more circum-
spect.

However, there is plenty of
evidence to show that a Haitian
“sub-economy” is taking root,
with immigrants working togeth-
er to strengthen their hold.

In The Mud and Pigeon Pea,
petty shops, beauty salons and
even a nightclub have been
established. The nightclub has a
cover charge and a menu hang-

ing outside. One house even has —

-a solar panel, showing techno-
logical awareness, while two
churches flourish in glorified
shacks, one with a sagging roof.

Every week, motorised ves-
sels chug into Marsh Harbour
at the end of three-day voyages
from northern Haiti. They go
back loaded with the detritus of
Bahamian prosperity.

For instance, thousands of gal-

lons of used cooking oil, by- -

product of a relatively well-off
society, find their way to Haiti

every year. Stored in plastic jugs, .

old water bottles and anything
else Haitians can lay hands on,
the oil is loaded aboard the beat-
en-up old boats for the journey
home.

In addition to establishing
their own economic and social
bridgehead in Abaco itself, the
Haitians are makingwuse-of

Bahamian hand-downs to’ help: »

relatives keep body and soul
together in the western world’s
most impoverished nation.
“Where they get the oil from,
I don’t know,” said a Marsh
Harbour resident, “I assume
they collect it from restaurants
and maybe local residents, then
stockpile it for the trip to Haiti.
“T suppose when it’s been
used a few times in the
Bahamas, it carries quite a few
extra flavours. And when they
get it back to Haiti, it can maybe
be sold for a few dollars. It may
not appeal to us, but it’s obvi-
ousaly something they value.”
The idea of cooking in some-
one else’s cast-off oil might turn
the stomachs of relatively well-
to-do Bahamians. But beggars
can’t be choosers, and Haiti has
been reduced to beggar status
for longer than it cares to
remember.
- Apart from its renowned fine





dict. Successful, maybe, but
that doesn’t always make for
happiness. I don’t think of Bri-
land as a happy place.

Nassauvian

There used to be an old say-
ing that “where there’s muck
there’s brass” (meaning mon-
ey), but it doesn’t apply to
Harbour Island, where degra-
dation of amenities will lead to
real problems down the road.

The island is booming at the
moment, but it is something

art, its incomparable rum and its
unique status as the world’s first
black republic, Haiti is noted pri-
marily for being dirt poor and
desperate.

Its average per capita income

still hovers around. the $350 ~

mark, which translates into
penury wherever you are, and
life expectancy is depressingly
short. So it’s not surprising that
its people grab whatever they
can from the rich neighbour to
the north.

The immense gulf between

-Haiti’s indigence and the

Bahamas’ life of plenty is best
gauged in a colourful tableau
acted out at Marsh Harbour
dock every week or so.

It is here that rough-hewn ves-
séls pull alongside to discharge
whatever meagre fare they carry
from their homeland and receive
comparatively lavish consumer
cargoes from Abaco for the
return journey.

The line-up of discarded
goods is impressive..The dirty
cooking oil, dull brown and
unappetising by the time it finds
its way into Haitian hands, is
only part of the story.

‘Incredibly

Piled high « on the boats are old

Jhattresses, battered bicycles, an _

‘abundance ‘of plastic bottles of

all kinds; chunks of used lum-' *

ber, an occasional window
frame, obsolete cookers, beat-
up fridges...and, incredibly, even
a derelict car or two.

All are destined for a nation
where consumer luxuries are vir-

tually non-existent among the |

poor, and where the compara-
tive extravagance of Bahamian
life is unimaginable. “It seems
that part of Haiti lives off hand-
downs from Bahamhians,” said
the Marsh Harbour resident,
“What we don’t need, they find
a use for. It’s interesting to see
the variety of stuff that gets
loaded on to these boats.”
Hence, the colonising process
goes on, with The Mud and
Pigeon Pea acting as clearing
houses for the incomers; and
“headquarters” for those already

_ established on the island.

Through their churches, the

Haitians enjoy a spiritual unity. |

Through self-help initiatives,
they find new areas of work to
explore. For instance, they are
now into bottle recycling, col-
lecting vast numbers of beer and
Vitamalt bottles for shipment to
Nassau. :

A few years ago, local coun-
cillor Yvonne Key. began a cam-
paign to clear the settlements,
claiming their existence could
no longer be tolerated in the
main town of an economically
dynamic island.

that can never be taken for.

granted. If the harbour is
being harmed by sewage and
the place loses its quietness
because of over-development,
it’s hard to see why anyone
would want to be there.

In addition to that, there
doesn’t seem to be much har-
mony on the island, where
foreigners and local residents
appear to be at loggerheads
much of the time.













priate, dragging down a proud’





L M Cartwright
Nassau

Ce ee ee

She felt the Haitian lifestyle, a:,
crude exercise in survival at the?
most basic level, was inappro-;'
Bahamian community. :

Mrs Key said the settlements, *
with their festooned power-lines,?
open cesspits and buckled)
shacks, were a typhoid ork
cholera outbreak waiting to hap-?
pen, a throwback to earlier times
when health was under constant!
threat. Two devastating fires:
among the shacks which left

- dozens of families homeless’

helped to focus her message.

There was talk of bulldozers
moving in, settlers being trans-—
ferred to new sub-divisions out
of town, and Marsh Harbour
returning to its old civilised self.
However, her efforts fizzled out
and the immigrants are now seen
as an alien, irritating but
inevitable - and probably eternal -
- presence.

Those Haitians who work!
accumulate US dollars which |
find their way back to Haiti to |
support relatives. The $150 min- ;
imum wage in the Bahamas '
might seem like small potatoes '
to the average Bahamian, but to |
a Haitian used to earning only |
twice that much in a year it is '
bounty beyond belief. i

Unless Haiti itself undergoes a |
sudden and wholly uncharacter- :

‘ stic. transformation. over the |
next few years, it is hard to imag- |

ine that Abaco’s immigrant,
problem will get better. While:
Haiti remains poor and unsta-
ble, the exodus will continue. «
Since the fall of President
Jean-Bertrand Aristide last yeary
‘Haiti has become even more,
unsafe than before. As a result;
desperate people continue tg
seek ways out, with the Bahamas
chain of islands acting as conve}
nient stepping stones to a bet}
ter future.
Most undoubtedly want ta
find refuge in the Haitian ghet?
toes of Miami. But many are
content to settle on the strag
gling isle of Abaco where resis;
tance to their presence is not ag
rigorous as one might expect. *
Mr Cooper hopes to change
all that. For him, the mathemat;
ics are against Abaco when the
Haitian immigration problem i is
considered long-term. Official:
ly, the island has under 14,009

. inhabitants. Haiti, meanwhile;

has a population of around sev»
en million, many of them look-
ing for an escape at any price;
“If we don’t act now, it’ s oven
he said.

Obeah cursed or not, ailded

_ Mr Cooper, the Bahamas must

save itself from the Haitiag
hordes or die.

© What do you think? Fax
328-2398 or e-mail jmarquis@tre
bunemedia.net

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THE TRIBUNE

MONDAY, APRIL 18, 2005, PAGE 3C

SS eS









EMPLOYEES of the British Colonial Hilton (one pictured
at left), were provided with a wide range of health services
as part of the hotel’s annual Health Education Fair last

week.

(The Tribune archive photo)

we

“There is far too much that is wrong about
the recently announced Cable Beach deal. It
is the wrong deal, on the whole island, in
the wrong place, at the wrong time and is

' being done in the wrong manner.

' “The investors are paying a measly $45

_ million for a hotel which cost Bahamians
more than $125 million to build, and which,

"as is, is worth more than $45 million.”

. — Chairman of the Free National Move-

. ment Carl Bethel on the billion-dollar Cable
Beach re-development project scheduled

, to begin in 2007.

rabies

_. “A lot of our youngimen gre.

.. themselves. with knives and machetes and



‘School. oe |

he recently

announced billion

dollar Baha Mar

Cable Beach deal

is the “wrong
deal” for the country and has
come “at the wrong time”,
FNM chairman Carl Bethel
claimed last week.

At a meeting of the Golden
Gates constituency association
of the Free National Move-
ment, Mr Bethel said that while
there is tremendous opportu-
nity for a realistic, practical and
well thought out investment in
Cable Beach, the project
agreed to by the government
does not accomplish this.

The official Heads of Agree-
ment for the development was
signed on April 6 after the
Baha Mar investment consor-
tium announced it had signed a
new agreement with Philip
Ruffin to acquire his proper-
ties.

Construction, scheduled to
begin in 2007, will affect the
properties on which the Radis-

Nassau Beach Hotel, the Wyn-
dham Nassau Resort and Crys-
tal Palace are currently located.

The development is aimed
at transforming the Cable
Beach strip into a mega-resort,
and is projected to generate
up to 9,000 jobs in the first
three years of operation.

Mr Bethel claimed that is
unacceptable for the govern-

going about the streets causing injury and
harm to others. ~

“Just recently we concluded what we
thought was a very (successful) anti-knife
campaign in our schools. We saw success
in that there was a major reduction in the
number of people we were taking knives
from and subsequently taking before the

- courts.

“But we do have a concern that there
still are young men out there carrying
weapons on them.”

— Chief Supt Hulan Hanna comments

., on. last week’s stabbing death of a,.15.,,.|.
year-old student .of:C.V Bethel High ;

Hosanna Baptist Church
Baptist Convention Headquarters

_ Baillou Hill Road

Rev. Dr. Dolly King
Pastor

Cordially invite you

to celebrate the

Church's Second
Anniversary

~ Under the theme:
“It's a Revived Church”

ey

CRE SEE

SH

<

TUT

SS
oO

eg

Acts 1:8

Rev. Dr. Elkin Symonette, Pastor
Ebenezer Mission Baptist Church

Rev. Dr. Roslyn Astwood, Pastor
St. Steven's Baptist church

By participating and sharing in the —

following activities:

Prayer Breakfast -

Rev. Dr. Everette Brown, Pastor
New Bethlehem Baptist church

Saturday, April 16, 2005
SuperClubs Breezes at 7:30 a.m.

| Worship Service
Sunday, April 17,2005 ut
at 8:00 a.m.

Rev. Ellington Ferguson

| Celebration Services
Monday, April 18, 2005 thru Wednesday,
April 20, 2005 at 7:00 p.m.

Rev. Cedric Smith, Pastor
Mt Sinai Full Gospel Baptist Church
Stuart Manor, Exuma



son Cable Beach Resort, the '

th eearrenida

ment to “give away” Crown
land to foreign investors
because it belongs to the
Bahamian people.

RK

7:

A 15-year-old student of C
V Bethel High School was
stabbed to death last week
when an argument between
two teenagers turned violent.

Alando Williamson was
stabbed with a knife in the left
side of his chest. His death
brought to 13 the number of
murders recorded in the
Bahamas so far for the year.

Police were holding in cus-
tody a 15-year-old suspect. It
is believed the stabbing was
the result of a feud that start-
ed on the previous Monday.

ae 6 ok oe

THE jitney driver who e

allegedly attempted to assault a
15-year-old passenger on Sat-
urday was released on $5,000
bail and has had his public dri-
ver’s licence suspended after
appearing in magistrate’s court
last Monday.

Andrew Johnson appeared

before Magistrate Marilyn

Meeres and was charged with
one count of indecent assault.
It is alleged that Johnson

inappropriately touchéd the =
young girl while she was a pas- °° °

senger on his bus on Saturday,
April 9, forcing her to jump out
of the moving vehicle and run
to safety.

As a result, she received mul-
tiple injuries to her stomach
and arms.

Johnson pleaded not guilty
to the charge and was granted
$5,000 bail with two sureties.

ae eo ak ok

MPs last week dealt with a
resolution in the House of
Assembly which would allow
the government to borrow
almost $17 million to replace
funds used for repairs following
hurricanes Frances and Jeanne.

The funds would be loaned
by the Inter-American Devel-
opment Bank and would be
returned to the public treasury

Mr Christie explained;as tha: «
government had to use,money . ..,
originally allocated for other

projects to respond to the
emergency situation caused by
last year’s hurricanes.

The bank has agreed to grant
the government up to
$16,700,00 to address the needs
of temporary reconstruction,
stabilisation and repair of infra-
structure across the Bahamas.

The government is to pro-
vide the remaining 20 per cent
of the amount used for hurri-
cane relief — $4.3 million.

Under the terms of the reso-
lution, repayments must start
before July 31, 2010 and finish

no later than January 31, 2025.

The work covered by the
loan will be carried out by the
Ministry of Works and Utili-
ties.

Most of the work, which has
been underway since late last
year, would be undertaken on
Grand Bahama, Abaco, San
Salvador, Cat Island, Eleuthera
and New Providence and would
include repairs to schools and
other public buildings, tempo-
rary housing and repair of
infrastructure works such as

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IDEAS

SUNDAY, APRIL 17,2005 | THE MIAMI HERALD ; 4C







>=
- Y CAROL ROSENBERG
; crosenberg@herald.com
2 = : - A _ round the world next weekend, Jews celeb at
‘Passover, the festival of freedom marking the
7 a exodus from Egypt by Israelites as they woun
—_ ii
~_ > — —
a - ~
- ——_
alte ~
as - aos
— ctivist whe hastiaked the wra
= : us leaders to organize a;
_ m=. ¢

“Copyrighted Material

Syndicated Content
Available from Commercial News Providers”

—-_ &- — =
- —-_ : - =
— = = . o



oeediiedl renewal.’
-
*
-— - -
_ - : eos YEHUDIT ROSENFELD, 10, AVITAL ROSENFELD, 12
oe os fifth-grader: seventh-grader:

SRNIGHERGE —. oo ‘Freedom means going to public places an
RUBIN: Unless the U.S. takes a more - : — . riding on buses — without being worried ab
active approach to the Gaza o ae being blown up by a terrorist. (Well, more
withdrawal, the Israeli pullout will 8 a correctly, without our mother being worried

make the conflict worse

KRAUTHAMMER: The Nationals
come to Washington and a
reformed baseball addict falls
off the wagon


5C sunpay, APRILI7, 2005.

INTERNATIONAL EDITION

NAOMI CHAZAN | PROFESSOR, PEACE ACTIVIST

Remember the lesson of liberation

assover is the festival of

Jewish emancipation

from slavery and the
prejudice, injustice, and inhu-
manity it entails. Over the
centuries, this holiday —
which coincides with the joy
of spring — has come to sym-
bolize the universal quest for
individual and collective free-
dom.

This year, the Passover sea-
son serves as a painful
reminder that those who sys-
tematically deny others their
liberty and trample on their
basic rights cannot themselvés

ELISHA BASKIN
CONSCIENTIOUS
OBJECTOR

I will not
serve inan
occupying
army

his year I expected to
spend Passover in

prison. Like every high
school senior, I faced an auto-
matic draft into the Israeli
Army. But I made the choice
not to serve in the Israel
Defense Forces — because
my conscience would not
allow it.

Passover is a symbol of
freedom. It is a festival where
we are commanded to recall
the suffering that our people
endured in Egypt under Pha-

raoh. For years, we yearned to .

be free and live in our own
land. The essential mitzvah,
or commandment, which we
are obliged to follow is to
read the Haggadah, the
account that reminds us of
the history of our ancestors in
Egypt. We are commanded
never to forget the experience
of what slavery did to us.

Yet, while Jews and Israe- -

lis celebrate our freedom, I
cannot help but wonder how
we can at the same time
deprive our Palestinian neigh-
bors of their most basic free-
doms. We Israelis have
become the Pharaohs of
another people. We deny
them the freedom of move-
ment with checkpoints, road-
blocks, walls, house demoli-
tions, and political
' bureaucracy — all in the
name of national security.
How can we celebrate our
freedom with dignity when
we deny it to those who share
this land with us? :
_ My country defines me as
a refusenik — an objector —
because I will not serve in an
occupying army. Rather than
send me to prison as a pro-
tester, the army has relieved ©
me of my obligation to serve.
So this year, I will volunteer
for national service — proba-
bly doing comimunity work in
a poor neighborhood — and
will celebrate my freedom on
Passover with a clear con-
science.

Baskin was born in Jerusa-
lem to parents who immi-
grated from the United States.
She enjoys cooking, photogra-
phy, reading and the beaches
of Egypt’s Sinai Peninsula.

be truly independent. Israel

peace agreement.

has controlled the West Bank The suffering of the dispos-
and the Gaza Strip since 1967, sessed and disenfranchised, as
and continues to do so against Jewish history so poignantly
the will of the Palestinians, highlights, harms not only the

who have repeatedly resisted
Israeli rule.

The adverse material,
human and political conse-
quences of the prolonged
Israeli occupation are by now
legion. The construction of
the separation wall and expan-
sion of settlements have fur-
ther circumscribed personal
mobility, economic viability,
political activity and a lasting

subjugated; it also defiles the
oppressors’ moral fabric and
internal cohesion.

Israeli society has become
more fragmented, its demo- .
cratic ethos increasingly
assailed, its security more
questionable, and its govern-
mental capacities severely
diminished the longer the Pal-
estinian-Israeli conflict has
endured. Unless Israel acts

now to promote a permanent
settlement based on the cre-
ation of a strong, viable Pales-
tine alongside Israel, its own
durability will be irretrievably
compromised.

The lesson of the liberation .

of the Children of Israel from
enslavement in Egypt, as that
of all subsequent liberation
movements, is unequivocal:

- Freedom cannot be gained

at the cost of repressing oth-
ers.

This Passover, Israelis,
with the help of freedom-lov-
ing people throughout the

world, must dedicate them-
selves to making 2005 a living
testimony to the timelessness
of the Pesach story. They
should do everything possible
to promote Palestinian free-
dom to liberate themselves
from the shackles of occupa-
tion too.

- Chazan, a former member
of Israel’s parliament, is pro-
fessor emerita of political sci-
ence at the Hebrew University
of Jerusalem and currently
heads the School of Society
and Politics at Tel-Aviv Col- -
lege.



AVITAL AND YEHUDIT ROSENFELD
SCHOOLCHILDREN

At Passover, we can n feel
as if we were just freed

pogrom.

reedom means going
HF to public places and But it isn’t just mivcicall
riding on buses — On Passover, the holiday of
without being worried about freedom, we remember how
being blown up byaterror- ‘we got out of slavery in
ist. (Well, more correctly, Egypt, where we got bread
without our mother being for free but could die as

worried.)

Freedom means having
an army that can, and is, pro-
tecting us — and fighting for
us. It means, feeling you’re
in your own country where
you can pick up your chin

and grin, and say, “I’m whoI

am — aJew!”

And no one will stop us
from saying that. Or feeling
that.

In school, Yehudit just

right down. They weren’t
secure; they never knew
what will happen or who
might get killed in the next

HAGAIEL-AD | GAY RIGHTS ACTIVIST

Event will show change,

slaves. Once out of Egypt,

‘we became our own bosses,

and got God’s command-
ments, or mitzvot, so we
could be spiritual. We could
make up our own minds.
Each year at Passover, we
get to show that we’re free:
We don’t have to sit up
straight at the Seder table.
We lean on pillows, like
kings and queens — the
queens that we are! And lis-

performed in Fiddler On the ten comfortably to the story

Roof. The show and the title of the Exodus from Egypt.
-Mean the exact oppositeof And feel like we were just

freedom. People inthe play _ freed ourselves.

were like a fiddler in the Avital Rosenfeld, 12, is a

middle of asteep roof— and __ seventh-grader at Jerusalem’s

one step could make you fall Evelina de Rothschild School

for girls. Her sister, Yehudit,
10, is a fifth-grader there. She
played Yenta, the matchma-
ker, in ‘Fiddler On the Roof.

RABBI ELIYAHU MITTERHOFF
WEBSITE DIRECTOR

Man’s greatest hibdaire |

is to do what is right

o you want to do the

right thing? The

unanimous answer of
a healthy : individual to that
question is always yes.

But we don’t always do
the right thing because we
are enslaved — to lust,
anger, arrogance and jeal-
ousy. And, as a. consequence

- of our transgressions we

destroy our lives and the
lives of our loved ones. Even
the rich and famous can ruin
their achievements with one
appalling act caused by a
moment of weakness.

Our great rabbis explain
that Egypt epitomized deca-
dence and was an absolute
vacuum of spiritual values.
So besides being physically
enslaved there, we were also
spiritually enslaved. The
‘king of Egypt tried to spread
the impurity and immorality
of his corrupt society... .

His multinational cam-
paign for consumerism and
sensuality left us helpless
and despondent, In such an

environment was it possible
to be moral? Sound familiar?

Our rabbis tell us that in Eg- _

ypt we were one step away
from spiritual devastation.

During Passover, we are
given an annual chance to
revitalize our spirituality.
We eat matzo rather than
bread, which symbolizes the
physical pleasures of this
world. G-d redeemed us and
gave us His Torah, with its’
faultless balance, as a rem-
edy for our material drives.
Only someone who is
involved in Torah is truly
free. Freedom means the
opportunity to live in purity
and man’s greatest pleasure
is to do what is right. Have.a
great Passover.

Mitterhoff is the director
of GlobalYeshiva.com, a
Jerusalem-based online
Orthodox Jewish advice
forum to debate and discuss
all types of religious issues
and Jewish law. He immi-
grated to Israel from the
United States in 1981.

RACHEL SAPERSTEIN | GAZA STRIP SETTLER

- Rockets’ explosions, threat
of expulsions cloud season

more diversity is possible

reedom for me this already worked for months
F Passover means the towards this event —

right to openly livein despite a strongly worded,
Jerusalem, and shareinthe aggressive opposition by
struggle for its renewal. Jerusalem’s mayor and

This August, thousands _ some religious leaders who

of people from aroundthe do not want the gathering to
world — Jewish, Christian take place. But we have
and Muslim; religious and received support from
secular; gay and straight — _ other religious and commu-
are planning to come to nity leaders and I am confi-
Jerusalem to celebrate in dent that it will take place
Hebrew, Arabic, English —a great achievement for
and dozens of other lan- democratic values, social
guages Jerusalem World- justice, and freedom.

Pride 2005, the global gay
celebration themed “Love
Without Borders.”

Here at the Jerusalem
Open House, we have

It will also be a very per-
sonal moment of hopeful-
ness and joy. For me, ona
typical day, I would get
plenty of derogatory com-

ments walking hand in hand
with the man I love in Jeru-
salem. But Jerusalem

s aresident of Gush Katif,
Aten means the right

to full, safe nights of sleep
without 2 a.m. explosions of

mortar and Qassam rockets in

WorldPride 2005 will not be my community.
one of those days. Freedom means that our chil-
Change is possible, and dren can walk to school in the
celebrating diversity in morning without gunfire or gre-
Jerusalem can be a reality nades lobbed at them.
— if only for.a few days. It Freedom means knowing I
will be a global opportunity can enjoy this holiday without
to make a stand for liberty, the heart-palpitating knowledge
peace, and pride — with that my prime minister is going
thousands of people from to.expel me and give my home,
all over the world joining synagogue and community to
together. the Arabs, on the slim chance
EI-Ad is executive direc- that they will give Israel a few
tor of the Jerusalern Open months of quiet.
House, a gay and lesbian Freedom means opening the
center for people of all faiths. newspaper and not reading how
He was born in Haifa. a brave people have been

branded “evil settlers” because

“they choose to defend their Bib-

lical homeland — so it will not
be given to an enemy as a
reward for terrorism.

And lastly, freedom means to
gaze at the army of Israel and see
courageous defenders and not
the means by which Israel will
pull Jews from their homes —
because they are Jews.

May the edict of expulsion be
rescinded and our holiday of
Passover be one of joy and free-
dom.

Saperstein, a mother and
grandmother, was born in New
York and moved to Gush Katif in
the Gaza Strip with her husband
Moshe, an Israeli army veteran.
Both are active spokespersons for

" their community.

ISSUES IDEAS THE MIAMI HERALD

THE MIAMI HERALD

RABBI MAJ.
HOWARD
‘HANOCH?’ FIELDS
U.S. ARMY

Nations’

freedoms

come ata
high cost

ay to day, soldiers
D give up their per-

sonal freedoms of
where they work, what they
eat and wear, what informa-
tion they can share, even
when they can retire. Each
of us here is missing at least
a whole year of birthdays .
and holidays with loved
ones.

I would like to be home
for Passover, listening to my
children recite the four |
questions and discussing
their understanding of free-
dom. But I gave that up
some years ago with the
hope that they can safely
have Passover at home each
and every year, without hav-
ing to go to war themselves.

This Passover, Jewish
service members and civil-
ians serving in Iraq and

_ Kuwait will make great

efforts to join one of the
many seders taking place on
bases. All of us will be
thankful that we come from
a free nation and will fore-
most discuss our role in the
liberation of an oppressed _

one.

Weare very proud of |
being free. Here in Iraq we
want to share that desire for
freedom. We in the military
are willing to temporarily
give up our personal free-
dom to help Iraq become an
autonomous nation of free
peoples represented by their
own form of democracy.

What America can give
to Iraq is national.freedom;
what Americans can learn
from our experience here is
how precious and fragile
freedom is. Just as freedom —



uit came at a cost for America‘:
and Israel, 'it has a ‘high ost’ 4

here for Iraqis and coalition
forces. As we lean back in
comfort at this Passover

‘ seder, we also will drip-wine .
for each of the 10 plagues to
remember the suffering and
high cost of freedom.

Fields’ family lives in Col-

orado. He has spent ll years
in the military, 10 as an
American Army chaplain
and one in the Israel Defense
Forces. He wrote this com-
mentary north of Baghdad,
where he will organize tradi-
tional Passover meals —
Seders — for U.S. soldiers.

SGT. KEVIN
MARKS
ISRAELI ARMY |

lam very
proud to

| protect Israel

ll start off by telling a

little bit about myself:

My name is Kevin
Marks, and I grew up in
North Carolina. After finish-
ing high school, I made ali-
yah and joined the Israel
Defense Forces here in
Israel.

After a lot of training and
hard work, Iam now a
fighter in a special unit: the
Golani — the best infantry
brigade.

When I sit and think
about what Passover means
to me, a few things come to
mind. Passover is about the
story of our people leaving
Egypt, finally becoming free.

I now remember the
times I celebrated this holi-
day with my family and
friends in America. I haven’t
been able to celebrate Fass-
over with my family in
America in the past two
years because I’ve been in
the army.

But I am very proud to be
here, to protect the land that
God eventually made our
home after the exit from

Egypt.

Marks, who lives in Tel
Aviv when not training with
the military, immigrated in
early 2003 and was drafted
into the Israel Defense Forces
in August 2003.








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