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:
2006
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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Volume: 102 No.141

THURSDAY, MAY 11, 2006





Atficer si

Sandy Mackey declines to
answer if he shot inmate

>

= By NATARIO
McKENZIE

WHEN asked by Coroner
Linda Virgill if he shot inmate
Neil Brown, prison officer
Sandy Mackey declined to
answer.

Testifying without his attor-
ney, Mackey exercised his right
not to respond to this and sev-
eral other questions, including
what type of weapon he
received from officer-Neko Sar-
gent on the morning of the Jan-
uary 17 prison break, and how
many times he fired the
weapon.

Noting that during earlier tes-
timony by witnesses, it was indi-
cated that Brown may have
been shot on two occasions, she
also asked him whether the
shooting took place in the bush-
es or on the prison bus on
Yamacraw Road.

“I choose to remain silent,”
was Mackey’s response to each
question.

He also declined to give any
information when the jury was
taken to an area on Yamacraw
Road where three inmates were
reportedly captured.

After more than a month,
witnesses’ testimony in the Jan-
uary 17 prison break that led to
the death of prison guard Dion
Bowles and inmate Brown
wound down yesterday.

After a final witness is called
today, Coroner Virgill is expect-
ed to sum up the casé.

Officer Mackey, who is rep-
resented by lawyer Dion Smith
of the law firm of Lockhart and
Munroe, was implicated by ear-
lier testimony as the officer who
shot and may have killed
Brown.

Mackey was recalled on

Tuesday, but informed the court
at the time that he had not been
- able to contact his lawyer.
When he was called to the
witness stand yesterday morn-
ing, he was again without coun-
sel and informed the coroner
that he had still not been able to
‘communicate with Mr Smith.
Noting this, Coroner Virgill
informed officer Mackey that
he could remain in the witness
box and say nothing or answer

the,.questions that.were.putsto-

him,'which would then be sub-
mitted as evidence.

At that point, Ramona Far-
quharson, lawyer for prison offi-
cer Sergeant Steven Sands,
interjected and said that she
would try to contact Mackey’s
lawyer on her cell phone.

Corner Virgill said that she -

would allow it, but stated that
she found it “very rude” that
Mr Smith was not present to
represent his client.

The court adjourned for a few
minutes, however when it

reconvened Ms. Farquharson

said that she had still not been
able to reach Mr Smith.

She said his.secretary had
informed her that he was in the
Supreme court, and apologised
for his absence.

Coroner Virgill noted that it
was not officer Mackey’s fault
that his lawyer was not present
and that it was the duty of the
lawyer to inform the court of
any intended absence.

Coroner Virgill then pro-
ceeded to question Mackey.

Sgt Herman Major was also
recalled to the witness stand
yesterday.

Major stated that he was in

SEE page 13



a THE Rev F ather Theophanis Kolyyas i is laid to rest yesterday at the Greek Orthodox Church on West Street as Bish-
op Savas looks on. Father Kolyvas was ordained in 1953 and served the next 53 years: as parish priest, school teacher and

choir director. ¢ pe PAGES 2, 10 & 11.

Officers mentioned
in Coroner’s inquest
‘still working or
are on vacation’

ll By PAUL TURNQUEST
Tribune Staff Reporter



PRISON officers whose names have
surfaced during the Coroner’s Court
‘inquest into the deadly prison break of

; January 17 are either still working at Her
, Majesty’s. Prison or are on\ “vacation”,
: officials claim. |

At a press conference yesterday Prison
Superintendent Dr Elliston Rahming

~ stated that names have alsd been for-

warded to the police as allegations of
corruption and abuse continue to arise
surrounding the case.

Shortly following the Bapbiike of For-
rester Bowe and Barry Parcoi, two of

SEE page 13





Senator wants Roberts
connection to Arawak
Homes clarified

QUESTIONS referring to Works Min-
ister Bradley Robert’s possible involve-
ment in Sunshine Holdings as well as the
probable impact of Arawak Homes’ eco-
nomic interests in government projects,
are expected to be addressed i in the Sen-
ate.

In questions added to the agenda of
the Senate, FNM Senator Carl Bethel
wants Minister of Energy and Environ-
ment Dr Marcus Bethel to clarify Minis-
ter Roberts’ connection to Arawak
Homes.

Mr Bethel is asking if Minister Roberts
is the same Bradley B Roberts who is
recorded in the 2001 annual statement of
Arawak Homes as the vice-president and
director of that company.

“Will the government confirm or deny
the. fact that 20,000 shares in Sunshine

SEE page 13



(Photo: Felipé Major/Tribune staff)



US Embassy official:
Cuba ‘ ca ideal
member of Human
Rights Council’

@ By RUPERT MISSICK Jr
Chief Reporter

THE US does not regard Cuba as an
ideal member of the newly elected
Human Rights Council, Dr Brent Hardt,
deputy chief of mission at the US
Embassy, told The Tribune.

There were 63 countries vying for the
47 seats on the new council. The results
of the first round of secret balloting
among the UN membership revealed
that Russia, China, Cuba, Pakistan and
Saudi Arabia, were voted in, all nations
regarded by many as unworthy of mem-
bership because of their own records of
abuse and repression.

SEE page 13



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THE TRIBUNE

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# GOVERNOR General Arthur Hanna expresses his condolences to Father Theophanis Kolvyas’
wife Maria and family at the priest’s funeral yesterday







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a



THE TRIBUNE




ee

landing

mM By DENISE MAYCOCK
Tribune Freeport
Reporter

FREEPORT - A 19-
seater aircraft en-route to
Fort Lauderdale with sev-
en persons onboard made
an emergency landing on
Tuesday at the Grand
Bahama International Air-
port.

According to reports, a
twin engine SAAB 34
piloted by Captain Mark
Grayglas had taken off
from Marsh Harbour and °
was headed to Fort Laud-
erdale when the pilot
heard a loud banging noise
and saw smoke inside the
cockpit. ,

A co-pilot, one flight
attendant, and four pas-
sengers were also onboard.

Mr Grayglas was grant-
ed clearance by Grand
Bahama Air Traffic Con-
trol to land at the airport.

He was able to land
without incident.

The aircraft was towed
to Freeport Flight Centre
to undergo repairs.

In the meantime,
arrangements were made
for the passengers to be
flown to Florida on anoth-
er aircraft.

The Civil Aviation
Department is investigat-
ing the incident.

BARBER CHARGED

A 39-YEAR-OLD bar-
ber was arraigned in the
Eight Mile Rock Magis-
trate’s Court on firearm
and ammunition posses-
sion charges.

Liston Jones, the owner
of Executive Barber Shop
in the Harbour West Shop-
ping Center at Eight Mile
Rock, appeared before
Magistrate Debbye Fergu-
son on Monday.

He pleaded not guilty to |

possession of .9mm Smith
and Wesson semi-automat-
ic pistol along with 54
9mm bullets on May 12.

Mr Jones was granted
$5,000 bail with surety.
The trial will be set on Fri-
day.

If the bail conditions are
not met, Jones will be
remanded to Her
Majesty’s Prison until the
trial date.

NEXT EVENT
27th & 28th May, 2006



ee an a=e

THURSDAY
MAY 11
5:30am Community Pg./1540
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(



HB By PAULG
TURNQUEST
Tribune Staff Reporter

OFFICIALS at Her Majesty’s
Prison report that security at the
facility will be enhanced to “air-
port-like” conditions to deter the
possibility of contraband being

" smuggled in by inmates, visitors,

or staff.

As of Monday, security at the
prison will include a portable drug
and bomb scanner capable of
detecting if a person has been in
contact with any illegal or explo-
sive substance within the last
three days.

Cell phones are no longer
allowed in any of the housing
compounds, and equipment capa-
ble of jamming cellular phones
throughout the entire prison is
expected to be installed shortly.

Speaking of these improve-
ments, Dr Elliston Rahming,
superintendent of the prison, said
the tragic prison break on Janu-
ary 17 has encouraged security
personnel to significantly increase
their efforts.

“The point is, while we will
never forget the tragic events of
January 17, Her Majesty’s Prison
has moved beyond that fateful
day. Rather than allowing that
tragedy to undo us, it has pro-
pelled us to re-double our efforts
to. take the prison where it ought
to have been a decade ago,” he
said.

Dr Rahming explained that
work has begun on a “proper
perimeter wall” around the
prison, and that construction is
also underway for a canopy at the
front gate for state-of-the-art bag-
gage and walk-through scanning
machines.

“We are determined to create
airport-like security conditions at

Undocumented
Haitians are
apprehended.

. THE Royal Bahamas Defence
Force patrol craft HMBS P43
apprehended 50 undocumented
Haitians suspected of attempting
to land illegally in the Bahamas.

While conducting a routine
patrol of the Exuma Land and
Sea Park, the crew members of
40-ft patrol boat detained a Hait-
ian sloop five nautical miles
north of Wadrick Wells Cay.

All of the immigrants were
removed from the vessel, taken
aboard HMBS P43 and trans-
ported to the capital where they
arrived around 8am on Saturday.

The group, which reportedly
left La Torte, Haiti last Tuesday,
was comprised of 53 men, nine
women and two children.

They all appeared to be in
“reasonably good condition,”
according to the Defence Force.

The Haitians were taken to
the Defence Force Coral Har-
bour base and handed over to
Immigration officials for further
processing and detention.

This recent apprehension
brings the number of Haitian
nationals detained by the
Defence Force in Bahamian
waters so far this year to just
over 500.

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the main entrance to our prison
facility. Once completed, in about
three months, everyone entering
the compound — from the super-
intendent to the recruit officer,
from the inmate to his mama who
has come to visit him — everyone

LOCAL NEWS

you would find in prisons in pro-
gressive countries around the
world,” he said.

Dr Rahming explained that the
new perimeter wall is expected
to take roughly a year to com-
plete and will consist of 250,000

were signed and despite numer-

concrete .blocks and miles

would be subjected to the same
of heavy-duty fencing and

rigorous security condone as

Turnquest asks for Baha Mar
agreements to be produced

MORE than a year after the
Heads of Agreement with the
Baha Mar Development Company

ous requests for disclosure, the
Free National Movement has still
not been able to see all sales agree-
ments entered into by government,
Senator Tommy Turnquest said
yesterday.

In questions put on the Senate’s
agenda yesterday, Mr Turnquest
has,asked Minister of State for
Finance James Smith to produce
documents of agreements signed



the redevelopment of the Cable
Beach strip.

: “If government refuses. or fails
to produce the documents or
agreements, what is the justifica-
tion for the continued secrecy?”.Mr Turnquest asked in his submitted

SENATOR ~
Tommy Turnquest

_ questions.

The FNM senator is asking if the following agreements exist in
writing between the government or any of its corporations and agen-
cies:

e An agreement for sale between the Hotel Corporation of the
Bahamas and Baha Mar Development company.

° An agreement for sale between the Treasurer of the Bahamas and
the Baha Mar Development Company.

e An agreement of sale between Prime Minister Perry Christie,
with responsibility for Crown Lands, and Baha Mar.

Senator Turnquest also asked if there are any agreements in writing
which were entered into by the Water and Sewerage Corporation and
BEC respectively and which relate to the sale and purchase of land.

He asked Minister Smith to answer how the continued “failure and
refusal” to disclose this information relates “to government’s claim that
its contractual arrangements with the Baha Mar Development Com-
pany are fair, open and PenSpAteny













































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Home ey Gt eae

pera A [242] Ee Re Be TE ) toa} ey + Fax:{242] rer C a Tee OIE





THURSDAY, MAY 11, 2006, PAGE 3

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Also, a dozen cameras that
were damaged by lightening last
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“This year we celebrate our
160th anniversary as an institu-
.tion. There are numerous chal-





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to the challenge and given time
and the resources — human, tech-
nical, and capital. We will trans-
form this institution and bring it
in line with 21st century and UN
standards,” he said.

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PAGE 4, THURSDAY, MAY 11, 2006

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE



The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmes of No Master

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Government hires in Public Service

WE WERE surprised at Fred Mitchell’s
announcement at the PLP’s recent mini-con-
vention that government is considering lifting
the moratorium on hiring in the public ser-
vice.

We were particularly surprised — espe-
cially in view of all the complaints over the
years of the need to trim the public service to
make it more productive — that within a
year government plans to add some 1,200
unqualified Bahamians to an already top
heavy and inefficient service.

In June, 2002, a month after the PLP
resumed power, Mr Mitchell, who holds the

Public Service portfolio, announced that the .

Christie government planned to lift the pub-
lic service hiring freeze imposed by the Ingra-
ham administration.

The government, he said then, “will hire
new people, but the question is when is that
decision going to be implemented.”

The Christie government continued the
moratorium for four years. Now with an elec-
tion less than a year away, the time is sud-
denly right.

Of course, the decision to lift the morato-
rium, which is expected to come into effect on
July 1, depends on government’s resources.
As Mr Mitchell said in 2002, government

_ can’t continue to finance the deficit “by bor-
rowing without significant productivity and
growth in the economy.”

But with an election nearing, it seems that
taxpayers are going to be lumbered with per-
sons, who by government’s own admission, do
not have the minimum educational standards
required to function efficiently in the ser-
vice. Mr Mitchell promises that, having not

‘made the grade in school, the new employees
will be trained at further public expense.

The only thing new in this decision is that
the intent has been made public. Under the
Pindling government various ministries were
quietly inundated with unqualified con-
stituents — especially in former Minister
Philip Bethel’s ministry. Most of them were
incapable of doing the jobs for which they

- were hired. However, they could be relied
_ onto mark their X in the proper box on elec-
tion day.

It got so bad that during a wage dispute
some years ago several civil servants com-
plained to The Tribune that the reason gov-
ernment could not increase their salaries
was that they had too many hangers on in
the service. In other words, there was no
money for those who in fact did the work.
Those complaining maintained that if it
weren’t for party favourites taking up space,
there would be enough in the Treasury to

pay them what they felt was their due. Is

this complaint going to be repeated?

Daily we hear of billions of investments
coming into the Bahamas, but with the excep-
tion of Eleuthera, Abaco and Exuma little
appears to be happening. When we ask why,
there often seems to be a problem with the
final signing of Heads of Agreement.

Prime Minister Christie and Tourism Min-
ister Obie Wilchcombe returned from the
recent wedding of Turks and Caicos Chief
Minister Misick, extremely impressed by the
Aman resort where they stayed. The hope
was expressed that the Bahamas could attract
the same resort to Norman’s Cay. We now
discover that if the heads of agreement,
already approved by the Ingraham. govern-
ment, had been signed in a timely fashion by

' the Christie government an Aman resort

would by now have been in full operation at
Norman’s Cay: (See story on page 1 of Busi-
ness).

In October 2002 Mr Mitchell was
impressed by the definition of public service
reform by Professor Charles Cambridge.

“I find (his definition) compelling,” Mr
Mitchell said, “because you and I know of the
complaints from and about the service and I
am convinced that if we had a more dynam-
ic private sector, there would not be so much
pressure on the public sector. So our job is to
produce jobs in the private sector so that the
country will grow.”

Is this an admission that despite all the
billions that this government claims has come
into this country; no appreciable dent has
been made in our double digit unemploy-
ment figure?

At the PLP’s convention in November

last year Mr Mitchell said government plans
to hire 300 Bahamians into the public ser-
vice. Six months later that figure has jumped
to 1,200. Does this mean that government, by
Mr Mitchell’s own definition, has failed ‘to
create a climate to produce sufficient jobs in
the private sector?

Could this possibly be because of a failure
to sign heads of agreement, process immi-
gration applications, get approval from the
BEST Commission in a timely fashion, or
because of delays in processing the many
other government permits that an investor
has to have before a project can get off the

. ground?

Something must have gone wrong for gov-
ernment to even suggest adding more dead
branches to ‘the civil service tree, branches
that in 1988 PLP Senator Sean McWeeney
said should be cut from the tree so that it
could survive. That was 18 years ago, but
those words are as true today as they were
then.





Responding

to Sir Arthu



criticism |

EDITOR, The Tribune

LAST Tuesday in your news-
paper Sir Arthur used his col-
umn to respond to my letters to
the editor (Nassau Guardian,
Wednesday, April 12 and Tues-

day April 25) where I took him

to task for this statement made
in his column on April 4:

“Religious leaders can preach
all they want against homosexu-
ality or anything else, but in this
democratic and pluralistic society
they should not be allowed to
manipulate the apparatus of the
state to force their views on oth,
er people.”

Believing’ he was overstating
his case and effectively trying to
muzzle the Church from speak-
ing to the social issue at hand I
wrote to correct his error and
show him that it was actually
homosexuals who have been
manipulating the apparatus of
society. I operate on the princi-
ple that what makes a wise man
a wise man is his ability to give
instruction as well as receive it.
My letter to, the Editor sought
to do just that!

Sir Arthur knows that he is a
respected statesman to whom
the public looks in order to give
reasoned arguments and clarity
to issues of national importance.
Certainly that has been my pos-
ture towards him until recently.

Sir Arthur, I would remind
you that you are an opinion
maker and most times a good
one, but in this instance you got
caught with your mental pants
down and with your biased,
uninformed opinion showing.
But rather than see that
informed opinion is what we
were both pursuing you took

-your eye off the ball and spoke
' from your.wounded pride calling

e “amateurish”.
I must confess that I am puz-

zled how an issue of such nation- .

al importance could be so cheap-
ly dismissed by you. In truth, I
thought that you would have
sagely said “Good call,. Pastor
Bethel, I did overstate my case
and you were right to call me on
it. Indeed the Church, nations
and states have been attacked
by the worldwide homosexual
agenda, and they have every
right to respond without being
labeled “homophobic”, *, “intol-
erant” and “bigots” who are
attempting to “manipulate the
apparatus of society.” We could
have enjoyed a hearty laugh, a
slap on the back and moved on
to the next topic.

But no. You preferred to take
a cheap shot to avoid having to

. acknowledge that you cannot

reasonably answer my queries.
You misspoke and it appears as
though it galls you that you were
caught and called on it. But

__ Visit us and see ater used cars
: a make your own deal!








AMP EIeS

letters@tribunemecia.net



rather than deal with the real
issue you prefer to dismiss me
as amateurish, offering foolish
claims and lacking reading com-
prehension skills. To call my

response to you an “attack”:

rather than a rebuke is likewise
an evasive stunt. Weren’t you
just advising some politicians the
other day that they should devel-
op thicker skin?

Sir, you are not dealing with
one of those “wretches” in the
clergy that you express such dis-
dain for. Nor can I be labelled as
one of the “grubbners” looking

‘for a bribe or handout — I don’t

want a taxi plate, a JP title ora
knighthood from the Queen.

If you want to know my
motive for addressing you on this
issue it is this — the Christian, and
in particular the minister, is called
to be Salt and Light to his com-
munity. Salt to stop the spread
of spiritual and moral decay, and
light to expose evil. Therefore I
will not stand idly by and let per-
sons call right wrong and wrong
right. Or let persons suggest that
homosexuality (that God con-
demns as abominable behaviour)
is normal and should be protect-
ed as a right under our constitu-
tion. Or have it taught in our ele-
mentary school system as accept-
able, as is presently happening
in parts of California and New
York with the book “Heather
has Two moms”, and in Massa-
chusetts with the book “King &
King.” Or to be told that speak-
ing out against it is “hate speech”
punishable by a two-year jail
term as is currently the case in
Canada.

You missed a BIG opportu-
nity here Sir Arthur, to show
your quality, and. to help the
average Bahamian get a better
grasp of the intricacies of this
social issue and remove the con-
fusion being created by homo-
sexual advocates who are trying
to equate the homosexual strug-
gle with civil rights issues.

Now if you found my previ-
ous queries impossible to answer
when I took you to task for your
misinformed statement that the
Church was attacking gays as
opposed to the other way
around, then I don't know how
you are going to be able to han-
dle these couple of queries I
have for you.

1) Last month, the San Fran-
cisco Board of Supervisors unan-
imously passed a resolution con-
demning Catholic moral teaching
on homosexuality and urging the
Archbishop of San Francisco and
Catholic Charities of San Fran-
cisco to defy Church directives
prohibiting gay adoption. The
resolution alludes to the Vati-
can as a foreign country med-
dling in the affairs of the city and
describes the beliefs and moral
teachings of the church as

firm dedicated to the defense
and promotion of the religious
freedom of Christians, has filed a
federal lawsuit challenging the
anti-Catholic resolution asa
“startling attack by government
officials on the Catholic Church,
Catholic moral teaching and
beliefs, and those who adhere to
the tenets of the Catholic faith,
in violation of the First and
Fourteenth Amendments to the
United States Constitution.”

“The demagoguery and viru-
lent words of this resolution are
reminiscent of the anti-Catholic
bigotry of the Ku Klux Klan and
the Know Nothings which
marred our nation's earlier his-
tory,” said Richard Thomson,
president of the Thomas’ More
Law Centre. Once again, Sir
Arthur, who is doing the attack-
ing here, and who is defending?

2) In California the Senate
Judiciary Committee approved
SB 1437 which would mandate
that grades one through 12 use
books “accurately” portraying
the “sexual diversity of our soci-
ety.” The bill is designed to pén-
etrateethe academic purpose ,of
schools with sexual, social engi-
neering — targeting children;as
young as kindergarten — by
requiring every aspect of the
public education system in Cali-
fornia to accept, embrace, teach
and promote homosexuality and
other harmful sexual lifestyles,
says Randy Thomasson of the
pro-family Campaign for Chil-
dren and Families.

Said one commentator, “SB
1437 disregards the religious and
moral convictions of parents and
students and will result in reverse
discrimination.” It could poten-
tially require gender- -neutzal

‘bathrooms:in the state’s schoals

and impact everything from
prom kings and queens, cheer-
leading, sports activities and
dress codes, as well as remove
gender-specific terms — such as
“mom,” “dad,” “husband” and

“wife”.

Does Sir Arthur advise that
the Church and all right-minded
people in California should just
sit back and allow this madness
to take place unopposed, all in
the name of “tolerance”? Should
we here in The Bahamas stand
aside and watch the homosexual
advocates and their sympathisers
steam roll their way across the
moral landscape — redefining
marriage, redefining family, and
teaching perversion to our chil-
dren — all because Sir Arthur
Foulkes says that we don’t have
a right to “manipulate the appa-
ratus of the state to force (our)
views on society” but they do?
The Christian worldview does
not need to be forced on this
country it is generally and wide-
ly accepted so the clergy is not
doing the forcing.

‘If it is all right with you, I
think I will be taking my cues
from the Lord who calls us to be
watchmen who are expected to
speak out against evil when it
arises or be held accountable for

“insulting and callous,” “defam- _ the blood of those we did not
atory,” “hateful,” “insulting to | warn (Ezekiel 33:1-7).
all San Franciscans,” “absolute-

ly unacceptable,” and “insensi-
tive and ignorant.”

In response, the Thomas More

Law Centre, a public interest law

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In brief

Crowds
reported for
National
Youth
Month rally

ABOUT 50,000 young
Bahamians — about a fifth of
the New Providence population
— braved the heat to participate
in the annual National Youth
Month Rally and March on
Sunday at Clifford Park, accord-
ing to government figures.

The event — planned by the
Ministry of Youth, Sports and
Housing — was held under the’
theme: “Empowering youth for
the eradication of poverty,
HIV/AIDS and crime.”

Schools and church bands
from throughout the Bahamas
were represented, as were youth
organisations such as the
Pathfinders, the Boys Brigade,
the Girl Scouts and martial arts
clubs.

Minister of Youth, Sports and
Housing Neville Wisdom kicked
off the rally, telling participants
that they were marching with a
purpose in mind. :

“Today we are going to
march to demonstrate solidari-



LOCAL NEWS

‘Convention to raise awareness

THURSDAY, MAY 11, 2006, PAGE:5



‘

on threat of chemical weapons

By RUPERT MISSICK Jr
Chief Reporter

THE Bahamas should not
delude itself: in this age of glob-
alisation, chemical weapons can
threaten anyone, anywhere,
Attorney General Allyson May-
nard-Gibson said yesterday.

Mrs Maynard-Gibson was
speaking at the opening of the

National Work-shop on Ratifi-.

cation of the Chemical Weapons
Convention (CWC).

The workshop is being hosted
by the Ministry of Foreign
Affairs in collaboration with the
Organisation for the Prohibition
of Chemical Weapons (OPCW).

The event, said Mrs Maynard-
Gibson, could not have come at
a more opportune time as the
Bahamas stands on the thresh-
old of ratifying one of the most
important conventions of recent

Grand Bahama conditions
‘may lead people to crime’

times - the Prohibition of the
Development, Production,
Stockpiling and Use of Chemical
Weapons and on their Destruc-
tion.

This treaty is unique as it is
the first multilateral treaty to
ban an entire category of
weapons of mass destruction
(WMD) and to provide for the
international verification of the
destruction of those weapons.

The attorney general said that
the Bahamas signed this. treaty
on March 2, 1994 and by so
doing, declared before the glob-
al community that it would
adhere to the principles of the
convention. —

“It is far too easy to underes-
timate the impact of chemical
weapons here in the Bahamas
either because we are not pro-
ducers of chemical weapons or
simply because we do not per-

ceive them as imminent threat.”

“This work-shop therefore
serves, among other things, to
heighten the awareness of all the
stakeholders in our country and
the general public not only to
the use of.chemicals but more
especially to the deadly use to
which they could be applied,”
Mrs Maynard-Gibson said.

She added that the govern-
ment has given a strong com-
mitment to living up to its inter-
national obligations and will
actively seek to implement the
provisions of the convention in
question.

“I want to assure’you that the
Commonwealth of the Bahamas
fully adopts the Mission State-
ment of the OPCW of the vision
of a world free of chemical
weapons and co-operation in
chemistry for peaceful purpos-
es,” Mrs Maynard-Gibson said.



@ DIRECTOR of Extermal Affairs Division OPCW, Zhixian
Liu, speaks at the opening ceremony of the National OPCW

Workshop on Ratification of the Chemical Weapons i
Convention on Wednesday at the Radisson Hotel i

f

(Photo: BIS/Tim Aylen)

general or the commissioner
of police the power to dismiss
an officer without compensa-
tion if that officer is found
guilty of intemperance, negli-
gence, irregularity, or miscon-
duct.

Additionally, Mr Grant
found portions of the Bill that
give power to the commis-
sioner of police to retire any
officer once he or she has
reached the age of 50 to be
unacceptable.

This same provision, if
passed, would apply to an offi-
cer who turns 45 years old,
provided the commissioner
secures the approval of the
minister of National Security.

Mr Grant said that this pro-
vision is unfair and needs to
be reviewed, as the country's
most productive, citizens fall .
into. thisi age -bracket,: includ:
ing membets.of the House. ¥*11"4

claimed that several contrac-
tors who were engaged by the
government for hurricane
restoration have been instruct- .
ed, without proper justifica-
tion, to discontinue their work.

The Lucaya MP also asked
the government to account for
how funds donated to the Hur-
ricane Relief Fund were spent.

“We have asked over and
repeatedly for the proper
accounting of relief funds, as
well as the government input
and expenditure for hurricanes
Frances and Jeanne.

“Well — Wilma has come
and gone since then, and we
do not have the report. The
contractors want to know
where is the money, how it was
spent, who received it, and for
what,” the MP said.

After his introduction, Mr.
Grant expressed his concern :
over sections of the proposed

ty with truth, with decency and lm By MARK HUMES
with honour,” he said. ee ee

_ Mr Wisdom told the young

participants that they will be the
ones setting the example and
the pace, as they spread the
message National Youth Month

‘throughout the islands of the

‘Bahamas.

_, “We want to demonstrate to
the entire Bahamas that the
youth of the Bahamas are the
‘best young people in the world
+ and in fact, the best Bahami- comments on*the living con-
‘ans,” Mr Wisdom said. : ditions in Grand Bahama to
we ‘the Bill on the floor of the

House.

He responded: “oppressed
people sometimes resort to
desperate measures, and when
they resort to these measures,
that is when the police has to
work.”

Before drawing attention to
sections of the Bill that he

THOSE who are stressed
and depressed are sometimes
forced to resort to desperate
means according to Lucaya
MP Neko Grant — who said
conditions in Grand Bahama
may be contributing to the
increase in crime on the island.

During his contribution to

‘the debate on the Police Ser-
vice Act, Mr Grant was asked
to explain the relevance of his

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a ge

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“1ibune Freeport Reporter

EL EPORT ~ The govern-
will not allow foreigners,

, iave been approved to
» land in the Bahamas
bold that land indefinitely

MHURSDAY, MAY 11, 2006

without developing it, accord-
ing to Financial Services and
Investments Minister Vincent
Peet.

Addressing lawyers in
Freeport, Mr Peet said he was
speaking in response to claims
by “some lawyers” that the gov-

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with no development,” he said.

According to Mr Peet: “A
part of the policy within the law
states we have the legal author-
ity to do it. We have relevant
authority under Section 36 of
the Interpretation and General
Clauses Act, which provides for
any government agency to
make conditions when issuing
permits and approvals.”

Mr Peet stressed that gov-
ernment has an obligation to
protect land for Bahamians. He
explained that the rationale for
conditions is to cut back on
speculation.

“You are taking out of circu-
lation land that Bahamians and
others could be developing and
create more jobs and opportu-
nity while some people hold it
for 10 years. When prices go to
the roof, then they sell 10 acres



DPM Pratt :

@ By Bahamas Information
Services

DEPUTY Prime Minister
and Minister of National Secu-
rity, Cynthia Pratt said Bahami-
ans must return to the days
when respect for self, each oth-
er, neighbours, community and
country were the order of the
day.

Mrs Pratt said adult Bahami-
ans must lead the way by setting
proper examples in their own
lives for their children and oth-
ers to follow. The Deputy Prime

Minister called on Bahamians ©
to “place special emphasis on -

our children even if they are not
our own” so as to make The
Bahamas a better place.
“That’s what made.us a
unique people because we

instilled in our children respect’

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of prime land,” he said.

The minister said he is also., :

concerned about the copying of



for self, others and communi-
ty,” said the Deputy Prime Min-
ister. “Even if a child did not
know his or her ABCs, that
child knew ‘Good morning,
Good evening, excuse me,

“thank you, please.’ You said

that over and over again.

“It didn’t do anything to
harm us but instead made us a
better nation and a better peo-
ple,” Mrs Pratt added.

Deputy Prime Minister Prat-
t’s comments came during a

tour of the Greater Commis- -

sion Ministries on Wulff Road.
Mrs Pratt said there was a time
in The Bahamas when Bahami-

“ans helped each other without
expecting anything in return.

She said this was a time when
Bahamians were truly their
brother’s keeper.

She added The Bahamas was:



Paradise Island

y



makes call” i
for respect for all ©

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From 12:00 noon - 3:00 p.m.

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THE TRIBUNE






government’s Form Three by
lawyers making application on
behalf of their clients to the
Investment Board.

He said that only the etticial |
government form is acceptable.

“J am told by (staff at the

that the Form Three is being:'
photocopied. We have a lot of
the original Form Three here,
and yet I am told that some of :
the lawyers print their own
Form Three, and when that
happens that is no longer a gov-
ernment form,” he explained.
Mr Peet said that lawyers.”
must submit original forms and
added that failure to do so.
would result in delays.
He noted that no application.
goes to the Investment Board —
or National Economic Council
unless it is completed properly.





é dea

able to cei itself as:a oi : ‘. SVii
leader in regional tourism, ©! gsitt
bringing millions of visitors to 3° ¢aig)

its shores, because of the
“respectful nature” Bahamians
exhibited for self and others.

She said the country’s citizens
must realise that they play a pri- . 1
mary role in the success of the
tourism economy in particular,
and the overall economy in gen-
eral, and that the successes that
have been and will be achieved
will only continue if respect for’ ©}
self, others, community and
‘country is practised on a daily
basis.

“It’s up to us, the people, to

Mrs Pratt said. “People keep
coming back to The Bahamas
because of who we are and how
welcome we make them feel in



§
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LOCAL NEWS

THURSDAY, MAY 11, 2006, PAGE 7





In brief

Gibson
‘will not be
distracted
from job’

& SHANE Gibson

THE new Minister of Labour
and Immigration Shane Gibson
_ said he will not be distracted
from doing his job — which
includes ridding the country of
illegal immigrants.

Mr Gibson added that those
who live in the Bahamas legally,
“have no reason to be con-
cerned.”

The minister was speaking
while in Freeport at the swear-
ing in ceremony of several new
Bahamian citizens.

Mr Gibson said Immigration
officers have a mandate and are
not “picking on any particular
group of nationals, but simply
doing their job.”

“The vast majority of
Bahamians approve the initia-
tive of the government in tack-
ling the illegal immigrant popu-
lation,” he added.

“We do not pursue illegal
immigrants in the hospitals, we
do not pursue them in the
schools, and we don’t pursue
them in churches.

“If you don’t want us to go
early in the morning, you don’t
want us to go on the job, you
don’t want us to have them in
bus loads during the middle of
the day, when do you want us to
do it?” he asked.

“{ think the message has to
get out there that, if you have
information where illegal immi-
grants are being housed, then
you should bring that informa-
tion to us. The more informa-
tion we get from the public, the
less we have to go out and actu-
ally conduct these types of exer-
cises,” Mr Gibson said.












“VENUS”
BLUE DIAMONDS
SET IN WHITE GOLD

KFC managers threaten to strike

KFC managerial employees
have threatened to strike,
claiming that the company edit-
ed an industrial agreement
without the consent of union
representatives.

The managers met with
Trade Union Congress (TUC)
officials yesterday to discuss
the alleged action by their
employer, Restaurants
Bahamas limited.

According to TUC officer
Herbert Scott, parts of a con-
tract that the union had agreed
upon have been changed and
a new edited version was sub-
mitted for signing.

“The industrial agreement
outlines the terms and condi-
tions of employment and must
be agreed upon by both par-

ties,” Mr Scott said.

He explained that the
Bahamas Hotel Managerial
Association signed an industri-
al agreement with Restaurants
Bahamas Limited in January
2002, which was to take effect
in May 2003.

According to Mr Scott, the
document was then sent to the
Industrial Tribunal for regis-
tration.

He said the tribunal wrote
both parties advising about
changes that had to be made
before the document could be
registered.

Mr Scott claimed another
meeting was then held, where
both parties agreed to the rec-
ommended changes.

“The company then sought

Unemployment on Grand
Bahama remains steady

l§ By DENISE MAYCOCK
Tribune Freeport
Reporter

FREEPORT - More than a
quarter of Grand Bahamians
are unemployed, according to
statistics of the 2005 labour
force survey released by the
Department of Statistics.

According to the figures,
Grand Bahama’s employment
rate has remained steady at 74.7
per cent for the past two years.

The island’s total labour
force — those of 15 years of
age and over, engaged in or
willing and able to be engaged
in the production of goods and
services — was recorded at
27,305 last year.

The annual labour force sur-
vey for 2006 was launched on
Monday with the swearing-in
of 24 enumerators and six
supervisors who will collect
data from, 800 households
throughout Grand Bahama.

The exercise is being con-
ducted in 3,500 households in
New Providence, South
Andros, Abaco and Grand
Bahama.

Clara Lowe, director of sta-
tistics in Freeport, released the
official labour force and
household income report for
2005, which comprises tables

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and charts that show labour
force components and charac-
teristics of the employed and
unemployed in the country.

According to the report, 69
per cent of the employed
labour force is engaged by the
private sector and the average
household income fell to
$38,891 in the Bahamas.

» In Grand Bahama, the
unemployment rate increased
to 11 per cent last year, show-
ing an increase from 9.3 per
cent in 2004.

The-reports showed that
there were 24,305 persons
employed and 3,000 persons
unemployed in 2005. -

This year, enumerators will
visit 800 households in desig-
nated areas throughout the
island during the next 15 days.

Grand Bahama Chamber of
Commerce president Dr
Doswell Coakley told enu-
merators that their duty of
gathering information helps
the government in its eco-
nomic and social development.

He said the data they col-
lect is more than just “simply
numbers”.

The Oath of Secrecy binds
all enumerators to keep confi-
dential any information they
receive from households par-
ticipating in the survey.

“CLEOPATRA”
DIAMONDS SET IN
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to make additional changes to
the agreement that were not
agreed on by both parties,” Mr
Scott claimed.

He said the document was
then sent to the.Department of
Labour, without the union hav-
ing an opportunity to examine
it.

Mr Scott said the TUC then ©

received a letter from the
Department of Labour con-
cerning the agreement — and
upon studying the submitted
document, discovered certain
“inconsistencies”.

He said the union then wrote
to Restaurants Bahamas Lim-
ited informing the company of
the differences and indicating
that the TUC would be pre-

pared to sign the agreement

CONGRADULATIONS

when the document was cor-
rected.

The TUC Officer said that
yesterday, the union asked the
Department of Labour to con-
duct a strike vote among the
KFC managers, and was disap-
pointed when department rep-
resentatives showed up with-
out the ballots or a ballot box.

“Tt is the responsibility of the
Department of Labour to con-
duct the ballot. We have to
ensure that the Department of
Labour does its job,” he said.

Representatives from the
Department of Labour refused
to comment to the media on
the matter, and the strike vote
has been postponed until fur-
ther notice.

President of The Trade

to all the riders of the

Lucky Star R



Union Congress (TUC) Obie
Ferguson was not at the meet-
ing and could not be reached
for comment.

The Tribune attempted to
contact Restaurants Bahamas
Limited at 5 pm yesterday, but
the calls were not answered.

INSIGHT
For the stories
behind the news,

read Insight on
_Mondays

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THE TRIBUNE



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For further information call 394-= 2604

AP19



Harbour Island split
on cruise ship visit

HARBOUR ISLAND was
split yesterday over the contro-
versial visit by a European
cruise ship this week, with some
residents saying they would like
it to happen again.

“It’s not true to suggest that
everyone on the island was
unhappy about the ship calling
in,” a resident told The Tribune.

“Those passengers had a
good time and some said they
would be flying in for vacations
in the future. It was good for
business here.”

Nearly 200 German and Swiss
passengers disembarked from
the Hanseatic when she
anchored offshore on Tuesday.
The vessel made an unsched-
uled stop while en route from
Grand Turk to Fort Laud-
erdale.

Local business people com-
plained, saying cruise ships were
not part of Harbour Island’s

‘ promotional profile.

It was alleged that the pas-
sengers used beach and toilet
facilities at luxury hotels on the
island and would “leave nothing
behind but their trash.”

However, one resident said



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the elderly and middle-aged
passengers did bring revenue to
the island. They used some local
services and, more important-
ly, said they would return in
future.

“They were really impressed
by the island’s beauty and some
were even on the phone to rela-
tives in Europe saying how won-
derful it was,” said the source.

Yesterday, The Tribune
reported that island residents
were “in uproar” over the visit,
which the Ministry of Tourism
admitted was unexpected.

Restaurant owner Julie Light-
bourn was among those who
complained about the ship’s
brief stopover.

‘“‘We are just incredulous - it’s
like an invasion,” she said, “I
don’t think this is the right
direction for Harboyr Island to
be taking.”

Local tourism official Prescott
Young was said to have been
deluged by complaints.

Tourism Director General
Vernice Walkine admitted the
ministry was as surprised by the
visit as the local population, say-
ing she believed it was organ:












@ THE Hanseatic

ised by the cruise company and
local government officials. -
Yesterday, however, some
islanders spoke out in favour of
such “spontaneous” visits, say-
ing they were short-term and
did not affect the island’s image.
“The people aboard that ship
were wealthy people,” said one
resident, “I-understand theré
were 188 pean aboard and
119 crew. |
“These are the kind’ of people
who will probably want'to.come
to Harbour Island i in, the, future
for a long vacation” "8. 8
One businessman he criti-
cised the: ship’s 's call said upscale
tourists paying, a premium for
peace and’ quiet did not want to
find themselves in a cruise‘résort.
Guests at one of the island’s
luxury.hotels,.were.uphappy
when the Hanseatic dropped
anchor. They demanded an
explanation from management,
saying cruise ships were not
mentioned in promotional lit-
erature.



Holiday for
victims of
slave trade
a non-event
m PARIS 3



FRANCE for the first time
Wednesday honored the vic-
tims of its slave trade, 158 years

after it stopped the practice of
taking people from their
African homelands and enslav-
ing them in Caribbean colonies,
according to Associated Press..

The day of memory was
timed to coincide with.a May
10, 2001, law that declared
slavery a crime against human-
ity. French President Jacques
Chirac said the law — the
world’s first — “blazed the

: . trail for other nations.”»~ -;

Cities throughout France
scheduled ‘ceremonies, read-

‘ings, concerts and other events:

In the French Caribbean,

: the day was a non-event.‘

In ‘ Cayenne, § French

: Guiana’s capital, the only

activities marking the day were

: an exhibition of pictures of

slaves in a local museum and’a
conference about slavery.
Guadeloupe, Martinique

and French Guiana have for

years had their own holidays
to mark the end of slavery.
- ‘Antoine Karam, the region-
al council president, criticised
how the day would be marked
separately and said he would
like to engage in talks with
France about social healing.
France abolished slavery i in
1848. .

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THE TRIBUNE



Peme Minister Perry
' Christie, who is also Min-
ister of Finance, said something
quite curious during his recent
one-night mini-convention
address.

He said that one of his admin-
istration’s significant achieve-
ments was to “return” fiscal dis-
cipline to government.

In order to “return” fiscal dis-
cipline to government it had to
have left in the first place. In oth-
er words, the Ingraham admin-
istration had to be fiscally undis-

ciplined during its years in office,

particularly those just prior to Mr
Christie taking over. Was this the
case?

To answer that question, we
need to ask another one, that
being, how do we measure “fiscal
discipline” at all? We can do so
broadly by examining move-
ments in the government’s deficit
from year to year, the growth
rate of the national debt and
trends in the national debt as a
percentage of Gross Domestic
Product (GDP), all of which are
related to each other.

If, as Prime Minister Christie
suggested, there was no fiscal dis-
cipline before he came to office,
these three indicators would be

_ worse off before he took office

than they were since he took
office. Let’s look at them and see
what we observe.

THE DEFICIT

bt he deficit measures how

much the government
‘spends in relation to the revenue
it takes in. In the four years

before Mr Christie came to
‘office, for the most part, the total

government deficit decreased sig- .

nificantly from year to year.

t In 1996/1997 the deficit was
'$217 million and decreased the
following year to $144 million, a
‘decrease of some 34 per cent.
‘The next fiscal year the deficit
idecreased to $139 million, a
idecrease of some four per cent.
In the following fiscal year,
1999/2000, the total deficit
‘decreased further to an astound-
‘ing low level of $56 million, a
idecrease of some 60 per cent.

» The last time The Bahamas
icame close to a deficit so low was
‘almost 15 years prior when in

+1987 the total deficit, in a much



smaller economy one should add,
was $75 million.

In 2000/2001, the deficit
increased significantly by some
59 per cent to $89 million but
much less than it was the two
years earlier. In 2001/2002, the
last fiscal period before Mr
Christie became prime minister,
the deficit increased to a much
higher level of $249 million, an
increase of some 180 per cent.
This increase was extraordinary
in relation to the exceptionally
low deficit the year before but
was only 16 per cent above the



If fiscal
discipline had
been lost
prior to PM

‘Christie’s

ascent to
office, it has
not been
restored since

he came to

office.



level in 1996/1997.
The exceptional increase in the
deficit in the year 2001/2002 had
several causes. One of those was
the onset of a recession in the
US in January, 2001, that began
exacting a toll on the economic
growth of The Bahamas.
Economic growth in The

‘Bahamas in 2001 decreased from

almost two per cent the year
before and four per cent the year
before that to below one per
cent.

In September, 2001, we all
know that the dreadful terrorist
attacks occurred in the USA, fur-
ther jolting the US economy and
further negatively affecting the
Bahamian economy.

The government found it nec-
essary to make significant extra-
budgetary expenditure in

-response:to the effects of 9/11.

Add to these occurrences the Bay
Street straw market fire and Hur-

Accompanied by






aA

STRAIGHT UP ‘TALK

rai

ricane Michelle and one can well
explain much of the fiscal oddity
of 2001.

(): course, one should
not dismiss the fact that

2001/2002 was an election period
and no doubt the fiscal deficit
was boosted because of it. With
the exception of this one year, in
the four years prior to Mr
Christie becoming prime minister
and Minister of Finance, the fiscal
affairs of the nation were kept
much in check.

What has happened to the gov-
ernment’s deficit since Mr
Christie assumed office? In each
of the fiscal periods the deficit
has remained above $200 million,
never returning to any level
below $100 million as had been
seen in the four years prior to
2002.

In 2003/2004, the deficit
increased from $244 million to
$248 million, an increase of 1.6
per cent. In 2004/2005, the
deficit’s projected out turn was
a decrease from $248 million to

- $239 million, a projected shrink-

age of about 3.6 per cent. In the
current fiscal year the deficit is
projected to decrease further but
again to remain above $200 mil-
lion at $222 million.

When one looks at the GFS
deficit, which is only the total
deficit less what the government
spends on debt redemption or to

-pay off the principal balance of its

loans, one discovers that in the
four years prior to Mr Christie
assuming office, the GFS deficit
was impressively near or below
one per cent in most of those
years. It reached 3.1 per cent only
in the economically depressed
year of 2001.

From the time PM Christie

_ came to office, his administration

has not achieved yet any level of

‘GFS deficit close to one per cent.

Indeed, for the entire time he has
been Minister of Finance, the
GFS deficit has remained near
three per cent.

Additionally, in none of its
years in office so far has‘Mr
Christie’s government been able



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VARGO

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to achieve a single period of sur-
plus on the recurrent account as
was achieved in two periods by
the former administration in
1999/2000 and 2000/2001.

If fiscal discipline had been lost
prior to Mr Christie coming to
office, it certainly was not
restored since then, not if one
looks at the performance of the
deficit either in absolute terms
or in terms of GFS figures.

THE NATIONAL DEBT

he national debt is what
all of us owe to some of |

us because the government
spends more than it earns and
has to borrow to make up the
short-fall.

If the government is incurring
a deficit every year, then it is
almost certainly increasing the
national debt every year. In the
four years prior to PM Christie
coming to office, the national
debt grew from $1.78 billion in
1998 to $2.2 billion in 2002, an
increase of some $420 million or
24 per cent.

Since Mr Christie took office in
2002, the national debt has
increased from $2.2 billion to $2.8
billion, an increase of about $600
million or 24 per cent.

Certainly, in looking at the
growth rate of the national debt,

_if fiscal discipline had been lost

prior to PM Christie’s ascent to
office, it has not been restored
since he came to office, if one
looks at the national debt fig-
ures.

This, however, is not surprising
since, as we pointed out earlier,
the GFS deficit has not per-
formed better under Mr
Christie’s administration than
under the previous administra-
tion’s last four years.

THE NATIONAL DEBT AS
A PERCENTAGE OF GDP

I: is useful to examine the
national debt in relation to

the GDP of the country, since.

GDP represents the national

THURSDAY, MAY 11, 2006, PAGE 9

income from which the country
has to service the national debt.

When we look at this number
over the four years before Mr
Christie came to office, we see
that the rate went down every
year from 1997 to 2001, moving

_ from 44 per cent to 38 per cent. It

increased again to 41 per cent in
2002 but remained below the lev-
el established in 1997.

Since Mr Christie took office,
this rate has remained around 44
per cent, never dipping below 40
per cent as had been achieved in
the four years prior to his coming
to office.

Once again, if fiscal discipline



It has been
somewhat
surprising
that a better
fiscal perfor-
mance has not
been achieved,
given the
favourable
global and
regional
economic

situations
inherited.



had been lost, nothing in the debt
to GDP ratio reveals that it had
been restored since PM Christie
came to office.

THERE WAS NO FISCAL
INDISCIPLINE TO
RESTORE

[vs reality is that fiscal
discipline was well-
established and maintained under
the Ingraham administration.
This was substantiated both by
the relevant economic indicators
examined earlier as well as by
reviews conducted by the Inter-
national Monetary Fund (IMF).

In its last Article [V review of
the Bahamian economy, the IMF
noted the following: “The main
challenge for The Bahamas is to
build on the commendable policy
efforts made under the present,
administration to sustain a
favourable environment for
investment and growth and fur:
ther reduce unemployment (esti-
mated at below seven per cent).

Therefore, the discussions with
the authorities focused on poli-
cies aimed at maintaining a pru-
dent fiscal stance, strengthening
credit policy, and enhancing com-
petitiveness, including through
the implementation of structural
reform.” é

This was published in July.
2001, that terrible economic year;
and notice that the IMF said that
discussions were centred around
“maintaining a prudent fiscal
stance”. 4

One does not maintain whab
one has lost. Add to this endorse
ment Moody’s. excellent sover:
eign debt rating at the time and
inherited by Prime Ministet
Christie. 5

PM Christie inherited a sound
fiscal situation, one which could
no doubt be improved upon but
which was sound nonetheless. It
has been somewhat surprising
that a better fiscal performan¢e
has not been achieved by: thé
Christie administration since
coming to office; given the
favourable global and regional
economic situations inherited.

The country should have been

. able to achieve over the last four

years lower total deficits, reduced
GES deficits as well as lower lev-
els of debt to GDP. It did not
and that is the failing.

THE PRESSURES OF THE
ELECTION SEASON

‘ he pressures of election
season will prompt many
claims. If we will entertain legit-
imate debate, it had better be-on
the facts. In any event, there are
those of us who will observe with
a view to adding our three cents
to an honest national dialogue of
the issues. —

THOUGHT FOR THE WEEK

ruth has a natural ally in
the facts.

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i) [HURSDAY, MAY 11, 2006 — THE TRIBUNE







eral service atthe |
ek Orthodox Church






















oe _ ® THE Rev Father Nicholas Tiantafilou officiates the funer-
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So Greek Orthodox Church.

(Photo: Felipé Major/Tribune staff)




























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THE TRIBUNE THURSDAY, MAY 11, 2006, PAGE 11



mM SAYING farewell to Rev Father Theophanis Koly vas who was
laid to rest at the Orthodox Church yesterday

(Photos by Felipé Major/Tribune staff)





®@ THE Rev

Chureh.



See e

B@ A PACKED church as the Rev Father Theophanis Kolyvas is laid to rest yesterday at the
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(Photo: Felipé Major/Tribune staff)

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PAGE 12, THURSDAY, MAY 11, 2006

IMPORTANT NOTICE TO ALL POLICYHOLDERS AND
CREDITORS OF THE BAHAMIAN BRANCH OF INDEPENDENT
INSURANCE COMPANY LIMITED (IN PROVISIONAL
LIQUIDATION)

The Joint Provisional Liquidators (“JPLs”) of Independent Insurance Company
Limited (in Provisional Liquidation) (“independent”), Mr Dan Schwarzmann and
Mr Mark Batten of PricewaterhouseCoopers LLP of Plumtree Court, London are
pleased to announce that the run-off of claims against independent’s Bahamian
brarich (“independent Bahamas”) is nearing completion. They are proposing to
make a final dividend payment in June 2006 to all Bahamian creditors whose
claims against independent Bahamas have been agreed. In order to qualify for a
final dividend payment in June 2006 your claim against Independent Bahamas
must be agreed by 31 May 2006.

Policyholders whose claims have already been agreed

If you have already agreed your claim against Independent Bahamas then you
will shortly be receiving a letter detailing the settlement conditions of your claim.
You must sign and return the letter to Orry J Sands & Co. Ltd (at the address
detailed below) before 31 May 2006 in order to qualify for the final dividend
payment in June 2006.

If you believe that you have an agreed claim against Independent Bahamas and
you do not receive such a letter by 12 May 2006 please contact Orry J. Sands &
Co. Ltd at the address below.

Policy holders with unagreed claims

For those claimants who have not yet agreed their claim with Independent Bahamas,

please note that you must have agreed your claim and have signed a returned a
letter detailing the settlement conditions of your claim before 31 May 2006 if you
want to receive a final dividend payment in June 2006. Therefore please contact
Orry J. Sands & Co. Ltd. with your claim details as soon as possible.

Creditors who are not policy holders —

If you are a creditor of Independent by virtue of a claim against an Independent
policyholder, or through the provision of some service covered by the policy, for
example, legal expenses or garage repairs, you will receive a letter detailing the
settlement conditions of your claim which you will be asked to sign and return.
Your participation in this process is in the interests of all parties concerned,
especially yours.

_ Quantum and timing of the dividend payment

The JPLs can confirm that, based on the information available at this time and
their understanding of the level of claims of Bahamian creditors, the quantum of
any dividend payment, whether paid in June 2006 or at a later date (for claimants
whose claims are agreed after 31 May 2006) is likely be 100%.

Contact Details:

Orry J. Sands and Co, Ltd
P.O. Box N-3827
Nassau, Bahamas

Tel: 242 393 4300
Fax: 242 393 6258 -







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THE TRIBUNE

LOCAL NEWS

Nassau born doctor dies aged 61°

DR ROGER Vaughan Sher-
man Sr, son of the late John
Alfred Sherman Sr and Effie
LaFleur Sherman passed away
at his residence in Kincheloe,
Michigan on Thursday, 13
April 2006.

Dr Sherman and his wife Dr
Vivica Fitzpatrick-Sherman,
maintained residences in Wash-
ington DC and in Kincheloe,
where she is a pediatrician to
the Sault Tribe of Chippewa
Indians.

Dr Fitzpatrick-Sherman is
herself of the Cherokee Tribe
of Native American Indians.







United States. uf
In 2005, Dr Sherman retired
from the Community Action |:
Group Clinic in Washington;

DC due to illness.

Dr Sherman was laid to rest 4
in a traditional Native Ameri-
can Ceremony lasting four
days, and in a Christian
Catholic burial.

The Native American Indi-
an ceremony, performed by the
Sault Tribe of Chippewa Indi-
ans, consisted of a four-day
Burning of the Sacred Fire, tra-
ditional drumming, singing and
reflection, and a Feast for the

Born in Nassau on 24 Feb- HDR ROGER VAUGHAN Dead on the third day of the

ruary, 1945, Dr Sherman
attended St John’s College and
the Government High School. He was a grad-
uate of Lincoln University.and the University
of Delaware and a member of Alpha Phi Alpha
Fraternity.

Dr Sherman gave a lifetime of dedicated ser-
vice in the area of mental health and drug
abuse prevention and rehabilitation, heading
numerous projects and programmes in the
Washington DC area over a 30-year period.

A much sought after specialist and expert, he
was lecturer and speaker at conferences,
seminars and workshops throughout the

SHERMAN SR vigil.

An important part of the
feast was to invite everyone to share their most
special memory of the dead. This reflection
on the life of Dr Sherman was led by his son.
Roger Jr.

The Christian Catholic Mass was said by
Father John Haskell, himself a member of the

- Sault Tribe of Chippewa Indians.

The mass was said in the native language of
the Chippewa Indians and in English. Inter-
ment followed in the Garden of St Luke, Oak-
lawn ‘Memorial Cemetary, Sault Ste Marie,
Michigan.

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THURSDAY, MAY 11, 2006, PAGE 13

THE TRIBUNE







FROM page one
the inmates who escaped in |
the early morning prison
break, photographs appeared
on the Internet showing
inmates lying in pools of blood
— allegedly beaten by prison
officers.

When asked about the alle-
gation of continued abuse
against the inmates involved
in the escape attempt, Dr
Rahming said: “We have a

Sandy Mackey [J§ Embassy official: Cuba ‘not ideal
declines to ao :
answer ifhe Member of Human Rig ls Council

e
shot inmate U 8 oficals stated that they Raped ‘Ear countries

FROM with “questionable human rights records” —
page one

in Coroner's inquest
‘still working or
are on vacation’

That is our position,” he said.

When asked about the pos-
sibility of improving wages at
the prison to deter possible
bribery and corruption, Dr
Rahming said that such mat-

FROM page one

“Cuba is one of those countries which we
have always maiiitained does not have a credible

Officers mentioned

such as Cuba — would receive no votes.
In. the meantime, Cuba says that the US is
charge of the PO’s office, which
was.at the front of the maxi-
mum security section of the
prison.

He stated that he was also
responsible for assigning offi-
cers to the maximum security
block.

Officer Major told the court
that_he left the prison at 4am
on January 17 because he had
both a bank appointment and a
medical appointment early the
next morning.

Major said that he left Sgt
Steven Sands in charge of the
PO’s office.

Coroner Virgill pointed out
to him that removing officer
Sands from where he was sta-
tioned at the western wing of
maximum security section —
which was a high security area

~ depleted the area of man-
power.

Major stated that he did this
because he felt more comfort-
able with officer Sands, noting
that he was of the same rank as
himself.

The witness said that officers
Bowles and Johnson were
assigned with Sgt Sands.

He.also noted that between
10, 30pm and 10.45pm, officer
Johnson went to the lounge
area because he said that he
was feeling sick.

Khat left officers Bowles,
Sweeting and Armbrister on
duty ai the maximum security
settion that night, he said.

‘Major said that he had a
balk appointment at the Cable

ch branch of Common-
we alth Bank at 8.30am on Jan-

uaty 17.

“He said that he was also suf-
feting from a medical condi-

"th ida: and had a doctors appoint-

, ment that day.

./ Whe officer said he left work
edly because he was told to
getisome rest before the visit.
Officer Major said that he

d been given permission to
ica e.work by-principal officer
Gregory Rolle.
e noted that he was work-
ing the 10pm to 6am shift,
beginning the night before the
breakout. .

Major said he did not keep
his appointments because as
soon as he. got home, he





received a call informing him of ©

the prison break.

Officer Major stated that he
returned to the prison at 4.20
am.

Chief officer David Forbes
told the court that he arrived at
the prison at 5.30am that day.

Chief Forbes said he recalled.

seeing inmates Barry Parcoi
and Forrester Bowe at the gate
lodge of maximum security sec-
tion that morning. Mr Forbes
told the court that he did not

human rights record and does not allow freedom
of movement, freedom of speech or freedom
of the press. hey don't have democratic elec-
tions, all of the basic human rights that are in the
universal Declaration of Human Rights and it
does not seem that Cuba adheres to that stan-

dard and that is the standard that. we believe:

countries on the council should have,” he said.

However, Dr Hardt said that the US ts
pleased that the new council has elected a major-
ity of countries with credible human rights

~ records.

“We hope the new council will be able to
address seriously the issues of human rights
around the world. We have supported coun-
tries with strong records of human rights and we
hope that other countries will continue: to do
likewise ~ he said.

The US and Cuba had both expressed the
hope that the Bahamas would support their

hardly in a position to pass judgment on other .

countries.

As the voling process was carried out by
secret ballot, it is not known for certain in whose
favour the Bahamas voted at yesterday’s meet-
ing in New York. Reportedly UN officials have
asked member countries not to reveal how they
voted.

The US did not put itself forward as a candi-
date in what is the first election of the council,
but indicated that it would do so in the future,

. depending on how effectively and credibly the

new council goes about its work.

“if it does demonstrate that it is a serious
body and is really looking into human rights
abuses wherever they occur even among the
states that are elected to the Council, because, I
understand that states elected to the council
can be reviewed on their human rights records as
well,” Mr Hardt said.



Senator wants Roberts connection clarified

.FROM page one

Holdings, formerly in the name
of Bradley B Roberts, are now
held in the name of ‘IHamad
Trust’,” a question Mr Bethel
has added to the Senate’s agen-

property

He has also asked Minister
Bethel if the word ‘Illamad’ is
‘Damalli’ spelt backwards and
if ‘Damalli’ is the name
of Minister Robert's resi-
dence.

“Will the government con-
firm or deny that (Minister)
Roberts is a beneficiary, if not
the sole beneficiary, of the
said Illamad Trust?” Mr
Bethel asked.

The FNM senator is also
questioning if the Ministry of
Works “at any time after May
2, 2002 cancelled existing
work orders to pave roadways
in a residential area on the
southern side of the Charles
Saunders Highway in an area
west of the Seabreeze subdt-
vision and east of the
Sir Lynden Pindling subdivi-
sion.”

Mr Bethel is asking if this
land is claimed by Arawak
Homes io be the company, s

“If the ministry did cancel
the road paving work order,
why did the ministry do so? If
not, why have the roads in the
da. residential area as described
not yet been paved by the



Ministry of Public Works?”
the senator wanted to know.
The FNM senator asked of
government to confirm or
deny that the economic inter-
ests of Arawak Homes and/or
Minister Roberts, in any way
affected the failure.on part of
the Ministry of Works “in
paving said roadways.”

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very definite stand against
brutality towards inmates.
There is no compromise as far
as that is concerned. Whenev- '
er we have a case where that is
the case, immediate and swift
action is taken to deal with it.
“As a matter of fact, we
have an incident where six
months ago, an inmate was
beaten. That staff member has
been referred to the police.

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ters were beyond his authori-

He said that wages and the
like would be a ministerial
item that is beyond him. He
added, however, that he has ©
advised that prison officers’
salaries be on par with their
counterparts in the other
branches of the armed ser- '



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issue or receive any weapons
that night.

Greg Bowe, the brother of
inmate Forrester, said that his
brother, in the presence of ASP
Ferguson and officer Forbes,
claimed that officer Forbes had
ordered the guards to brutalise





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‘Forbes denied this claim. He

said that Forrester Bowe never
said such a thing and added
that he had no authority to
order the guards to brutalise
any inmate.

When questioned by the
coroner, officer Forbes denied
that he received any weapon
from ASP Farrington. He also
denied giving a weapon to
police, although he stated that
he would have been the one in
charge of the armory that
morning.

Principal officer Gregory
Rolle was also called to the wit-
ness stand.

He was questioned by Coro-
ner Virgill as to where he had
procured the weapon that he’
gave officer Neko Sargent.

Mr Rolle said that the gun, a
.38 revolver, came from a safe
in the PO’s office.

There were three such
firearms in the safe and these
were used for emergency pur-
poses, he said.

“Officer Rolle said that he
never fired the weapon but
gave it to officer Sargent with
six live rounds.

Officer Neko Sargent, who
was also recalled yesterday, tes-
tified that on the night of Jan-
uary 16, he received a .38
revolver from inspector Gre-
gory Rolle with six live rounds
of ammunition, but never fired
the weapon.

He also directed the jury to
an area of Yamacraw Road
where he recalled stumbling
over someone while chasing
the escaped inmates.

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PAGE 14, THURSDAY, MAY 11, 2006



YESTERDAY, one day after
the Bahamas reportedly voted
for Cuba to sit on the new
Human Rights Council,
bereaved families remembered
the tragic events of exactly 26
years ago, when four Bahamian
Defence Force marines were
killed by Cuban fighters just
south of Ragged Island.

@ By TRIBUNE STAFF
WRITER

THEY were all in their early
manhood, fresh-faced recruits
who went to sea to serve their
country. Three of them were
not long past their 21st birth-
days. The other was 23.




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But in the early evening of
Saturday, May 10, 1980 - 26
years ago yesterday - their lives
were cut short when Cuban
MiG fighters dived from the sky
and strafed their ship with bul-
lets and rockets. All four died as
they tried to swim away from
their stricken ship.

During a few minutes of mad-
ness and mayhem, Fenrick Stur-
rup, Austin Smith, David Tuck-
er and Edward Williams were
killed - victims of the worst inci-
dent the Bahamas Defence
Force has known in its short his-
tory.

. For those who recall that fate-
ful evening, it seems ironic that
the Bahamas should now be

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Recalling the dead of

casting its UN vote in Cuba’s
favour - especially as the Castro
regime in Havana has one of
the worst human rights records
in the western world.

“I remember how strong the
anti-Cuba feeling was in Nas-
sau,” a source said yesterday,
“The country was in shock and
fee lings against the Castro
regime were very powerful.”

He added: “It really surprises
me that the Bahamas should
have forgiven the Cubans so
quickly. But I have not forgiven
them.” .-

The HMBS Flamingo was
sailing off Cay Santo Domingo,
30 miles south of the Ragged
Island chain, and well within
Bahamian territorial waters,
when it encountered two Cuban
fishing vessels.

Suspecting poachers, the
Flamingo moved in to appre-
hend the boats. But, while
escorting them into port, the
Bahamian patrol was attacked
by MiG fighters firing air-to-
surface rockets.

The attack, which came with-
out warning, continued in sev-
eral waves even. after the
Flamingo was abandoned and
left to its fate.

As the Flamingo began burn-
ing and sinking, and its crew
tried to swim to safety, the
Cuban jets strafed the water
with machine-gun fire. All this
happened around 6.45pm - but

marines are shown seated front row-uiider the Clifford Park

the Cubans were far from fin-
ished.

The following morning, the
jets were back again, flying low
over Duncan Town in Ragged
Island.

Terror

Terrified islanders fled for
their lives as the aircraft
screamed over them at little
more than tree-top height in
simulated rocket runs.

“This was a deliberate act of °

terror against innocent
islanders,” a-Bahamian ex-
politician told The Tribune.

Immediately, the Bahamas
government condemned the
“iNegal and unprovoked
attack”, demanding réparation
and an apology for the loss of
lives and the $4.5 million ship.

It also reported the “vicious
and unprovoked attack” to the
UN Security Council, alleging
a breach of international law
and the United Nations char-
ter. ;

Meanwhile, Havana sent a
seven-man delegation - includ-
ing Fidel Castro’s brother, Raul
- to Nassau for urgent talks with
the Pindling government.

Diplomatic repercussions
began to reverberate around
the world. Both Britain and the
United States werg consulted.
The State Department in Wash-



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ington said initial reports indi-
cated that Cuba was in “gross
violation” of international law.
Britain lashed Cuba for “acting
irresponsibly” and asked for full
reports.

Businessman Rudolph Smith,
father of one of the victims, was
shattered when he heard his son
was missing. “The Cubans have
declared war on us without a
cause,” he said.

The incident, though essen-
tially tragic, had its farcical ele-
ments, too.

Cuba claimed the Flamingo

had been flying a red “Jolly ©

Roger” flag, signifying its sta-
tus as a pirate ship.

Prime Minister Lynden Pin-
dling dismissed this excuse as
unacceptable, adding: “I can
see no reason why they could

THE TRIBUNE



Hi ONE of the two items
saved from the ill-fated
HMBS Flamingo during the
May 10 sinking.





Captain of
Flamingo looks
back on horror

of attack

AMOS ROLLE, who was
the Flamingo’s captain on the
evening of the Cubans’ attack,
last night recalled the horror
of seeing his young marines
under fire.

“It was a very. traumatic
experience,” he told The Tri-
bune. “They got off the ship
into mushroom-coloured
inflatables. But the jets used
them as target practice.”

The bodies of the four vic-
tims were never found.

Mr Rolle, who retired from
the Defence Force five. years
after the incident and now
works in Exuma, recalled how
the Cuban jets first overflew
the Flamingo before return-
ing to attack.

“All our lives were in dan-



ger,” he said, “I heard an:

explosion under the boat.
Then came another salvo of %
rockets. z

“We were sinking fast and U i

had no option but to order: |:

the crew to abandon ship.:.
“They were in the water try
ing to swim to safety. It al
happened so fast. When th
jets left we searched for th
missing men for almost a
hour.”

Mr Rolle said it still sad
dened him to think of the fout
men who died. “I consider i
to have been an occupational*
hazard because the Cuban
had overflown us before,” he
said. But the rocket attack
had come as a.complete su
prise.






















~ THE TRIBUNE

Crew

have mistaken two ensigns and
a Bahamian flag as a Jolly
Roger. :

“The attack took place on a
well-marked identifiable patrol
craft which was in Bahamian
territorial waters.

“What made the attack even
more dastardly is that even after
our gunboat was set afire by a
rocket the crew who abandoned
ship were cut down my
machine-gun fire in the water.”

He said it was a “flagrant
abuse” of Bahamian territory
and “an act of aggression which
could not have been a mis-
take.”

Havana lamented the loss of
the Flamingo, but said the area
around Cay Santo Domingo
had been used for anti-Castro
activities in the past. It stuck to
its story that the jet pilots
thought the Bahamian vessel
was a pirate boat.

In December, 1980, The Tri-
bune reported that Cuba had
agreed to pay $5.4 million in
compensation for the loss of the
Flamingo and four crewmen,
with $100,000 going to each of
the bereaved families.

External Affairs Minister
Paul Adderley said the matter
was ultimately resolved because
of the international communi-
ty’s “overwhelming support” for
the Bahamas.

LOCAL NEWS





PAGE 16, THURSDAY, MAY 11, 2006

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$500m.
plan for Nor

Last remaining |
obstacle is
four-year wait
for government
to revise Aman
Resorts’ Heads
of Agreement



@ By ROBERT CARRON

NORMAN’S CAY, Exuma,
is the potential location for a
$500 million ultra-luxury Aman
Resort, residential community
and marina that will be built
over a seven-year period: The
only obstacle to the project
going ahead is the four-year
wait for the Government to
revise the Heads of Agreement.

In.an exclusive interview with
The Tribune, Adrian Zecha,
chairman of Aman Resorts, the
world-renowned, ultra-luxury
Asian hotel chain, expressed his
excitement about the Bahamas
and his hope to complete nego-
tiations with the Government.

_ “As with all Aman Resorts,
we succeed in creating’a véry
exclusive high-end resort,” Mr

Zecha said.

“Our resorts create enor-
mous pleasure for our visitors,
who are tourists to your coun-
try, as well as create a sense of



@ By CARA BRENNEN
Tribune Siaff Reporter

LEGISLATION for the
proposed National Health
Insurance (NHI) plan should
be ready for bringing to Par-
liament before year-end, the
minister responsible saying
yesterday he hoped this would
alleviate concerns raised by
local businessmen that this

‘deadline was for implement-
ing the scheme.

Speaking with The Tribune,
Dr Bernard Nottage, minister
of health and national insur- |
ance, said his ministry has
been in constant contact with
relevant NHI stakeholders for
some time, and has reviewed
the suggestions and concerns
they raised.

In addition, he said the min-
istry had identified consultants
to review the financial aspects
of NHI, and examine the sus-
tainability of the proposals
made to this point. A second
round of consultations is soon
to take place.

“What we hope to have in
place by December 31 of this
year is, having gone through
the second set of consulta-
tions, the legislation that is
required for the implementa-
tion of the plan. My objective
is to have that passed through
the parliamentary system by
December 31,” said Dr Not-
tage.

Optimistic

He added that he was opti-
mistic that the plan’s main ele-
ments, such as contribution
levels and coverage, were sub-
stantially settled by year-end
206.

“Then it will be the Gov-
ernment’s call as to when it
would wish to implement it,”
Dr Nottage said.



e

high-end resort
man’s Cay





& AN ARTIST’S rendering of the planned Amancaya, Norman’s Cay

pride among Bahamians.”
He added: “In 1998, I was
invited to come to the Bahamas

by the former director-general .

of tourism, Vincent Vander-
pooi-Wallace, and Greg Cleare

_ when, they were on a tourism

visit to Asia.

“T arrived in the Bahamas
eight years ago to look at the
island.”

“Norman’s Cay was love at
first sight,’ Mr Zecha smiled.
“The island has such a unique

\

He acknowledged that there
are still a number of concerns
and questions that need to be
addressed.

Dr Nottage added that
based on the consultations his
ministry has had, the Bahami-
an business community had
indicated it agreed that health-
care access needed to be
improved, although it might
disagree about issues such as
the contribution rate.

Picture

Dr Nottage said: “! think
that if.people look at the big-

ger picture, that is the thou- _

sands of people in our com-
munity who are unwell and
cannot afford healthcare, or
the medication that they can-

not afford to buy, or who need -

operative procedures, I
believe that for the business
sector, productivity is going
to be significantly improved
if people’s time off from work
can be reduced because they
have access to care early on
in the time that they need it,
so that something does not.
develop in a severe condition.

“It is a win-win situation for
employers even though they
will be required to make a rel-
atively small contribution. Ii
appears that 5 per cent of
income of what we now have.
at a ceiling of $5000 a month,
will not be particularly bur-
densome, and many compa-
nies today try to provide some
form of health insurance
scheme for their workers.
Some are non-contributory,
but most of them, they pay a
portion.” ~

NHI will be cheaper than
what companies pay for pri-
vate insurance for their
employees, Dr Nottage said,
but those details can. be
worked out.

‘shape, gorgeous beaches, con-
tours and, most important, is .

that it is undeveloped.

. “My partner, Jonathan
Breene, and I signed a Heads
of Agreement in 2002 with the
former government under

Hubert Ingraham with the plans ““

that are here on paper,” said
Mr Zecha.
“Mr Breene - the developer
of the Setai hotel and residential
project in South Beach (Mia-
mi) - and I got together to do

Tourist arrivals down 5% in early 2006

@ By CARA BRENNEN
Tribune Staff Reporter

AS of February this year, total tourist arrivals
to the Bahamas were down by 5 per cent com-

this project. That project took
the South Beach market to new
heights in terms of luxury, price
and location. It was a very suc-

cessful and happy venture for -

us both. Bae
“Since that time, some four

‘years later, we have been wait-*

ing to finalise outstanding issues
(in the Bahamas) so that we can

begin construction,” Mr Zecha

said.
Separately, informed sources

have told The Tribune that the

Aman Resort project has been

held up because Prime Minis-
ter Perry Christie’s government

“wanted to amend the Heads of

Agreement drafted under the
Ingraham administration, in the
belief that the developers and a

~ Bahamian’ group. associated

with them were getting “too
sweet a deal”.

» The resort’s centrepiece is
planned for the former land and

SEE page 2B

pared to the same period in 2005, despite increas-

es in air arrivals to Nassau/ Paradise Island and a _

SEE page 4B

BIC talks
‘waiting’ on —
government
negotiators

B@ By NEIL HARTNELL
Tribune Business
Editor



THE first bidder for the
| Bahamas Telecommunica-
tions Company (BTC) has
completed its due diligence
and is now “waiting” for the
‘Government to formally
appoint its negotiating team
so talks can begin on the
state-owned firm’s privati- |
sation.

James Smith, minister of
state for finance, told The
Tribune yesterday that Blue-
water Communications
Holdings had “pretty much
completed” its due diligence
on BTC after being given a
two-week extension to early
May to finish this exercise.

He added that Bluewater
was expected to “formally
submit” its opening offer for
BTC once talks began, and
acknowledged that the

Mr Smith said: “We are at
the stage now where we are
finalising our negotiating.
team, and will be sitting with
them [Bluewater] to start
negotiations in earnest. That

should be happening any
time now.”

He explained that once
Bluewater submitted its
opening offer, the Govern-
ment’s negotiating team
would assess it, seek any }
‘clarifications that were nec- |
essary and then give its
response to the bidder.

Mr Smith acknowledged
that other groups were inter-
ested in BTC, but these
would have to wait to begin
their own due diligence until
negotiations with Bluewater
were completed.

“There-are about two oth-
er companies, but we’ve told
them they have to wait until,
we’ve completed negotia-
tions with Bluewater,” Mr





| _ SEE page 4B














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FROM page 1B

properties once owned by infa-
mous Colombian-German drug
trafficker Carlos Lehder, which
were vested in the Public Trea-
sury. after being seized by the
Bahamian authorities.

Sources said the developers
were also seeking to acquire
surrounding land from a group
of Bahamian businessmen and
attorneys that had been instru-

‘mental in attracting Aman to

the Bahamas.

However, the Government is
understood to want to amend
the Heads of Agreement to
obtain a greater percentage
from real estate sales associated
with this surrounding land.

This was because it felt the ,

Bahamian group was getting
#00 good a deal, having brought
\man to Norman’s Cay and
increased the value of its land-
holdings.

However, Aman Resorts
would be an ideal addition to
the Bahamian hotel product
mix. The size of its develop-
ments are in keeping with
retaining the character of Fam-
ily Island destinations,,.

And its high-end, luxury bou-
tique nature will enable Aman

away

naaawe

nctnsanes iStick ites nt vt ie tense sie ie hsm no mis Sa rsaadamnense aaiay

7

ue Pry ew

to charge and justify room rates
that will cover the relatively
high operating costs encoun-
tered in the Bahamas, ensuring
it is profitable.

Meanwhile, Mr Zecha
described the history of Aman
Resorts to The Tribune. “The
company was started some 19
years ago when I left journal-
ism, tired of fighting the end-
less press censorship in Asia,”
he laughed.

“I started the company to be
a boutique, ultra-luxury hotel
chain focusing on the niche
market of highly affluent and
well-travelled people. They
want unparalleled levels of ser-
vice, with a sense of adventure
and uniqueness.

“Today, some 18 operating

resorts later - and’a few on the
horizon - we are spread
throughout the world in some
pretty exotic destinations:
French Polynesia, Asia, Thai-
land, Europe, Philippines and
our newest resort in the Turks
and Caicos,” Mr Zecha said.
“Last year, 144,000 customers
visited our resorts: 26 per cent
coming from the US, 44 per
cent from Europe, with Asia,
Latin America and the Middle
East making up the difference.
“Moreover Aman resorts are



Campaign runs until July 14 2006

‘happen of the Het of Now Sit THAR aH eT Seal Pera Af tee Bed of Baa tein

ii AN ARTIST’S rendering of the planned beach club at Amancaya, Norman's Cay

igh-end resort plan

known for their environmen-
tally friendly designs and pro-
jects,” Mr Zecha told The Tri-
bune, as he pointed to a map
and his many resort locations
on it. .
“We never allow grey water
into the soil or sea without it
being treated. We intend to
build our own water plant, pow-
er plant and sewerage facilities
on Norman’s Cay. :
“Our resort will feature 40
bungalows and 28 high-end vil-

las that will blend into the envi- .

ronment and natural aesthetics
of the island, a lodge, spa, mari-
na and marina village. There
will also be 70 other villas which
people can purchase in a num-
ber of plans pre-designed by our
architects around the resort,”
Mr Zecha said.

“The resort will be open to
the Bahamian public. They can
come by boat and by plane, and
have lunch or dinner at the
resort or clubhouse.

“We intend to extend the
runway from 2,500 feet to 5,000
feet and install lighting on the
runway to allow for night oper-
ations. While some of our guests
will arrive:at Nassau Interna-
tional, quite a few will arrive on
their private jets and we have
secured an agreement with the



To celebrate our 50th year in The Bahamas, Scotiabank is giving
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B AMAN Resorts’ spectacular setting in the Turks and Caicos

Government for Norman’s Cay
to be-a Port of Entry to the
Bahamas with Immigration and
Customs,” he said,

_ “The resort will employ 80 to

100 full-time employees who -

will live in accommodations that
we will build on the island.
There will be obviously more
manpower building the infra-
structure as well as the other
homes,” Mr Zecha said.

“The government of Turks
and Caicos allows a 50/50 ratio
between ex-pats and local staff.
While we don’t expect this in
the Bahamas, we do intend on
bringing in a number of ex-pats
to work alongside Bahamians.

“We will also have a transfer
programme for our staff at Nor-
man’s Cay so that they can go
away and cross-train at any of
our resorts worldwide. This will
allow us to promote promising
Bahamian talent and give them
unmatched experience, as well





Estates & Villas, Eleuthera.

Responsibilities include:
infrastructure

phone system

recovery plan

Requirements:

systems











literate.

fund benefits.

as opportunities in other coun-
tries of the world,” Mr Zecha
said.

“We have just opéned up an
Aman Resort in the Turks and
Caicos on March 1. We are.cur-
rently operating at 100 per cent
capacity.

“That site took 18 months for
government approval from the
time we identified it. It then

took just under two years to

build,” Mr Zecha said.

“In terms of real estate we
have thirty-three 5,000 square
foot villas for sale in our Turks
and Caicos project. We have
already sold 12 of these villas
to our Aman ‘Junkies’ at an
average rate of $6-$7 million
per villa. Ten of these villas are
under construction already, and
so we are extremely pleased
that without even putting the
product on the market we have
achieved this level of-sales.”

“Aman Junkies! They refer

Cotton Bay Developers, invites applications for the position of IT Manager to plan, develop and
manage the IT and telecommunications infrastructure of our new luxury community, Cotton Bay

- Identify key technologies and products for the effective management of the resort's IT and telecommunications

- Liaise with vendors to obtain all required hardware and software
- Implement and support on a day-to-day basis the resort’s reservations system, data room, computer network and

- Develop procedures and documentation for the use of all software and hardware platforms including a disaster

e Willing to reside in Eleuthera on a permanent basis
© Bachelors degree in IT or equivalent certifications

* Minimum of 8 years experience in IT Management, preferably in the hospitality industry

¢ Knowledge of LAN/WAN technologies, Windows Server 2003, Exchange Server, PBX, POS and hotel reservations

Compensation commensurate with qualifications and experience.

Submit résumés to info@cottonbayeleuthera.com



POSITIONS AVAILABLE
SENIOR ASSOCIATES

PricewaterhouseCoopers has vacancies for qualified accountants whose
qualifications make them eligible for membership in the Bahamas Institute
of Chartered Accountants. Prospective candidates should have at least three
(3) recent years of public accounting and auditing experience and be computer

The positions offer challenging work in the financial services industry and
other areas of industry and commerce. The salary scale, which recognizes
different levels of experience and skill, is designed to reward high’performance.
In addition, the Firm provides excellent medical insurance and provident

Please submit your application with Curriculum Vitae to:

Human Resources Partner

PricewaterhouseCoopers
P.O, Box N-3910
Nassau, The Bahamas

INFORMATION
TECHNOLOGY MANAGER

ihit: THIBUNE

to the loyalty of our customers
and they go wherever we go. In
fact,” Mr Zecha laughed, “our
most sought after t-shirt says:
‘?'m an Aman Junkie’.

~“We intend at looking and

developing other sites in the

Bahamas. We have specifically. -

looked at two other sites to
date. One is the world’s deepest

blue hole, an amazing site just |

off the beach, surrounded by
cliffs in Long Island, and the
other is one in Grand Bahama.

“T am a great admirer of Sol
Kerzner and the outstanding

job that he has done in the:

Bahamas. But there is no luxu-
ry, boutique, high-end products
in the Bahamas,” Mr Zecha
said.

“We look forward to creat-

ing that five-star small, intimate
resort within two years once the
outstanding issues are resolved

and our Heads of Agreement , .

is signed.”





















|



HE | HIbUNE







n order to protect their

business name and

trademark (logo),

entrepreneurs are

advised to register
these immediately upon estab-
lishing their business venture,
notwithstanding the legal form
they choose to organise their
business in.

Requirements for

Registration of

Business Name

Section 3 of the Registration
of Business Names Act 1989
requires every firm, individual
and corporation having a place
of business - and carrying on
business - in the Bahamas to.
register its business name in
accordance with the provisions
of the Act. The Act defines a
‘business name’ as “the name
and style under which any busi-
ness is carried on, whether in
partnership or otherwise”.

Generally, every firm, indi-
vidual or corporation is

required to provide, along with ©

the prescribed fee, a statement
in writing, under Form 1(for an
individual), Form 2 (for a firm)
and Form 3 (for a corporation),
which contains the following
information:

* The business name.

* The general nature of the
business.

* The principal place of the
business.

* For the registration of a,

firm, the present given name
and surname; any former given
name or surname; the nation-
ality; usual residence; and other




PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, KENNEAIL KEVERIO
SMITH, of P.O. Box N-9858, the Eastern District of
Nassau, Bahamas, intend to change my name to
KENNEAIL KEVERIO JOHNSON. If there are any
objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box N-742, Nassau, Bahamas no later than thirty
(30) days after the date of publication of this notice.







Malye Aca c(i





business occupation (if any) of
each of the individuals who are
partners; and the corporate
name and registered or princi-
pal office of every corporation
that is a partner.

* For the registration of an
individual, the present given
name and surname; any former
given name or surname; the
nationality; the usual residence;
and the other.business occupa-
tion (if any) of such individual.

* For the registration of a cor-
poration, its corporate name
and registered or principal
office. :

* If the business commenced °

after the date of commence-

ment of the Act (29 December,

1989), the date of commence-
ment of the business.

The foregoing particulars

must be provided to the Busi-
ness Names Department at the

Registrar General’s Office,
which is responsible for the
administration of the Act, with-
in 14 days after the individual,
firm or corporation starts busi-














nN



mgt necr.












Employment Opportunity - Nortel PBX and Key System Engineer

Applications are invited from individuals who have:

* A minimum of 10 years experience in Nortel. telecommunt co



’ ness. The statement containing

such particulars must be signed
by the relevarit individual, part-
ners or director or secretary, as
the case may be. Such particu-
lars are required to be com-
pleted in Form 6 (for an indi-
vidual), Form.7 (for a firm) or
Form 8 (for a corporation).

It is importzint to note that a
business licence issued by the

Business Licence Department .

is required to te issued before a
business name can be regis-
tered. The licence must “be
attached to the relevant form,
on application for the registra-
tion of a business name.

The filing fee for a Statement
of Particulars-(on application)
and regular annual fee for the
registration of a business name
is $150.

The Registrar General keeps
an index, or Register of Busi-
ness Names, for all individuals,
firms or corporations registered
under the Act, and the admin-
istrative fee for an inspection
of the Register is $5.

A Certificate of Registration
is issued by the Registrar Gen-
eral as documentary evidence
of the registration of the busi-
ness name of the firm, individ-
ual or corporation. This is done
following completion of the rel-
evant forms, the provision of





faking a Mar
yusSiness name








ti

the required particulars, and the
payment of the aforementioned
tiling/registration fees. A notice
is also placed in the Official
Gazette, indicating that the

business name has been regis-.

tered for the particular firm,
individual or corporation.

The Certificate of Registra-
tion or a certified copy must be
exhibited in a conspicuous posi-
tion in the place of business of
the firm, individual or corpora-
tion. Failure to exhibit the Cer-
tificate of Registration, as
required by the Act, may result
in a fine of $1,000 being levied
against every partner, individ-
ual, secretary or director, or
imprisonment for three months.

Registration of Trademark

A trademark is defined by
Section 2 of the Bahamas Trade
Marks Act 1906 as “a mark
used or proposed to be used,
upon or in connection with
goods, for the purpose of indi-
cating that they are the goods of
the proprietor of such trade-
mark by virtue of manufacture,
selection, certification, dealing
with or offering for sale”. In
other words, a trademark is a
distinctive symbol that identi-
fies particular products (or ser-
vices) of a proprietor of the
trademark to the public.

A proprietor may be any per-
son, company or firm that has a
trade connection with the goods
(or services) for which the
trademark is registered (for
example, a manufacturer,

“ importer, retailer, business

establishment). Once the pro-
prietor registers the trademark,
he has the exclusive right, under
Section 39 of the Trade Marks
Act, to use the trademark in
connection to the goods (or ser-
vices) for which it was regis-
tered.



wenbar

Under the Trade Marks Act,
the registration of trademarks
is initially for 14 years. Howev-
er, it is renewable for a further
14 years on expiration of the
original registration or last

renewal of registration, upon ~

application by the proprietor to

baae wk

is ly

Lg baw whe FP de on tere



} ough
istration

the Registrar General of the
Bahamas.

A “registrable trademark” (a
trademark capable of being reg-

istered under the provisions of on

SEE page 5B

NOTICE

IN THE ESTATE OF JOHN RICHARDSON | °2

MORLEY late of Ryswick, Montagu Foreshore, |
East Bay Street in the Eastern District of the’ ~ ] |
Island of New Providence one of the Islands of }'

the Commonwealth of the Bahamas,

Deceased

NOTICE is hereby given that all persons having |
any claim or demand against the above Estate are |
required to send the same duly certified in writing |
to the Undersigned on or before the 12th day of |
June, 2006, after which date the Executors will |
| proceed to distribute the assets having regard only
to the claims of which they shall then have had |

notice.

AND NOTICE is hereby also given that all persons
indebted to the said Estate are requested to make. |
full settlement on or before the date hereinbefore

mentioned.

HIGGS & JOHNSON

Attorneys for the Executors

Chambers

P.O. Box N-3247
Ocean Centre
Montagu Foreshore,
East Bay Street
Nassau, Bahamas

Are you looking for a new challenge?

IT Services and IRM Associate





AUDIT » TAK © ADVISORY

© 2006. KPMG, a Bahamian partnership, the Bahamian member firm of KPMG International, a Swiss cooperative. All rights reserved.



We are currently seeking talented and highly motivated candidates to join our Information Technology (“IT”) Services and-
Information Risk Management (“IRM”) practices. 3

»

Successful candidates for the dual role of IT Services and IRM Associate will have a minimum of a Bachelor’s degree from
an accredited institution and one to two years of experience. Exceptional writing and documentation skills are required.
Experience with Active Directory, TCP/IP, network and application security skills, and backup software preferred. Duties will
include technical support for staff, management of backend’ IT infrastructure, .
management recording, and security documentation. MCP and/or CCNA certification and experience preferred:

This is an excellent opportunity to. broaden your professional experience in a varied practice that offers compatitiver
compensation and benefits packages.





IT audit compliance testing, change






























ihe dk ee le he a ee

bs

Applicants should submit a cover letter, resume, copy of their transcripts and copies of any relevant certifications, to: KPMG, Human Aucune Manager, P.O. y e ze

tk ‘ ; ; it i Shak ‘ ‘ Box N123, Nassau, Bahamas or tdavies © kpmg.com.bs. «s
Indigo Networks is seeking to fill a sentor position in its Technical Services =
‘Lee

department for an exprinoed Telecommuntcations and Networking S

S468

4 Ze













































technical support role,
6 ee ae
Ability to meet with Customers in a Sales Capacity. | Colina
+ Ability to perform analysis, recommendations, and Implementation to Pan Si ee Ora Aes
Customer's Voice and Data Networks, |e
| * In depth Design, Programming, Implementation, Maintenance of ae
Nortel Norstar, BCM, Meridian Option LIC and 8IC systems. Abaco Markets — ee See snenge sae oe ana aie 0.000 NM 6.00% 3s
‘ ‘ Baharnas Property Fund 11.00 11.00 0.00 1.568 0.360 7.0 3.20% es
Knowledge of ESN is essential, Bank of Bahamas 7.23 7.23 0.00 0.643 0.330 11.2 456% es
; : Benchmarc 0.71 0.71 0.00 0.183 0.020 3.9 2.82%)’
* Programming and Installation of TI's and PRI's ae ee i oe Set, een ee, eee
* Knowledge of PBX Inter-Networking and VOIP Integration. SaeHorece ee nar mee hee se ia.done CR 2gale
© Rout d VLAN exnerience as it relates to th - Consoliciated Water BORS "374 "321 O47 ot 0s B84 cents:
Routing, Trunking, QOS; al experience as I it ates lo l ¢ Bostate Hospital 246 2.46 0.00 0.437 0.000 5.6 oRee es
Integration of Voice and Data Networks Famguard 6.20 6.20 0.00 0.539 0.240 11.5 3:8 7%fo?
‘ inco 11, : 3 : 0.73 : é B0%|e,
aes, Firsicaribbean 12.00 12.00 0.00. 874 0.500 ta7 eeeale:
i * Excellent customer service skills Focol 10.42 10.50 0.08 1,000 0.833 0.500 12.6 4:76%ho*
‘ . ee cere fe 1.15 p08 eee 0.000 N/M 0.00% i.
I tilities is 9.50 A - r a
© Good ora and wntten skills JeS.dohmeon 2.00 8.00 0.00 0872 Osco 187 G22%
| ° Ability to work with minimum supervision. erzner Internationa Ss -98 -97 -0. : 0.000 Eee 0.00%




Weekly Vol




Last Price
11.00
10.00

1.997
0.000

14.00
10.00

15.00
10.35

Bahamas Supermarkets
Caribbean Crossings (Pref)





| __ Accompetitve salary commensurate with experience is offered along with
| product training, medical, pension and car allowance after a qualifying
| period.



28.00 ABDAB
13.00 Bahamas Supermarkets
RND Holdings __



? fo
14.00 8.0 2.57%




ee ee ee nt ee ee EEE








NA
1.285819*
2.7451 ***
2.329423**

1.164331*



Colina Money Market Fund
Fidelity [Bahamas G & | Fund
Colina MSI Preferred Fund
Colina E3ond Fund






Interested candidates should submut their resumes in writing to Indigo
Networks PQ Box N-3920 for the attention of the Technical Services
Manager.











Bid $ - Buying price of Colina and Fidelity
Ask $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price

52wk- 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





































**- AS AT APR. 30, 2006/ ****
6.

Today's Close - Current day's weighted price for daily volume
Change - Change in closingeprice from day to day

Daily Vol. - Number of total share:s traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the |'ast 12 month earnings

- Ais AT MAY. 01, 2006

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



4
‘
‘
‘
‘
i

4
‘
t
‘



PAGE 4B, THURSDAY, MAY 11, 2006

THE TRIBUNE ©

LS



BTC talks ‘waiting’ on government negotiators

FROM page 1B

Smith said.

The minister of state for
finance told The Tribune that
he was unable to name the Gov-
ernment’s negotiating team, as

. their appointments had not
‘ been formally approved.

However, the team is likely
to include representatives from
government agencies such as
the Ministry of Finance, Min-
istry of Works and Public Util-
ities and the Attorney General’s
Office, plus members of BTC’s
Board and executive manage-
ment.

Concerns were expressed by

the bidders involved in the pre-
vious failed BTC privatisation
process back in 2003 that the
then-Tenders Commission con-
tained potential conflicts of
interest and vested interests,
due to the presence of BTC
Board members and manage-
ment executives on the Com-
mission.

Yet Mr Smith yesterday said
it was “kind of inevitable” that
BTC executives were included
on the Government’s negotiat-
ing team, as excluding them
would leave them - as stake-
holders - feeling shut out of the
process.

The minister said that by
including them, the Govern-

Meu. wou casure lat there
was a “buy in” to the privatisa-
tion from BTC executives, who
would understand “from day
one” why decisions were being
taken and why.

Among the key issues likely
to dominate the negotiations
between the Government and
Bluewater are the price the lat-
ter is willing to pay; conditions
of any agreement; the extent of
the monopoly BTC holds in
fixed-line and cellular services,
and how long it will be main-
tained; capital expenditure and
how much Bluewater is willing
to put into its business plan;
how much the group would
invest in training Bahamians;

the composition of the Board;

and management agreements.
“There are a number of

issues; technical, legal and finan-

cial,” Mr Smith said, adding that’

BTC’s cellular monopoly was
going to be “one of the more
sensitive areas”.

Financial

This is because BTC’s finan-
cial performance, said to have
recovered to a $34.533 million
net profit in 2005 from $8.34
million in 2004, is heavily
dependent on its cellular
monopoly to keep the company
afloat.

Competition has. eroded

BTC’s profitability and rev-
enues in about almost every
other area it competes in, and
opening up cellular - while ben-
efiting the Bahamian private
sector and residential con-
sumers - could impact BTC.
Bluewater Communications
Holdings is described as a com-
pany that works with existing
management teams to “restruc-
ture and reinvigorate" telecoms

‘ companies such as BTC.

Among Bluewater's princi-

pals are Roger Ames, former
‘chairman and chief executive

of Warner Music Group, and
president of Warner Music
International from August 1999
to August 2004.

Tourist arrivals down 5% in early 2 006

: FROM page 1B

rise in sea arrivals to Grand
Bahama.



According to statistics
released by the Ministry of
Tourism’s Research and Statis-
tics Department, 790,069 per-
sons travelled to the Bahamas



Pere STORE helen

Discover a rewarding and
challenging career catering to the
country’s visitors in the exciting
retail jewelry business!!!

ARE YOU...
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* professional? ¢ mature (25 yrs or older)? * dedicated?
If your answer is YES then take the next step

FAX LETTER TO 326-1747

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FAX LETTER TO 326-1747

or mail to Human Resources, P.O. Box SS-6327, Nassau, Bahamas

fr-TtTccc

UBS

UBS (Bahamas) Lid, a leading global w ealth
manager, is seeking an experienced professional

to join their team as

in the first two months of the
year, compared to the 833,760
which visited the country during
the same period in 2005.

Nassau/Paradise Island saw
an increase in air arrivals of 5
per cent, while sea arrivals
decreased by 11 per cent.

In Grand Bahama, the trend
was reversed with air arrivals
decreasing by 1 per cent and
sea arrivals increasing by 21 per
cent.

Visitor numbers to the Fami-
ly Islands dropped by 11 per
cent for both air and sea travel.

Month

During the month of Febru-
ary, air arrivals to the entire
Bahamas rose by 2.5 per cent
to 128,716 persons, up from the
125,615 arriving in February
2005.

Nassau/Paradise Island air
arrivals rose by 2.2 per cent to

March, 2006.



LEGAL NOTICE

NOTICE

AFRINVEST SECURITIES LIMITED

Notice is hereby given that in accordance: with Section
137 (4) of the International Business Companies Act
No. 45 of 2000, AFRINVEST SECURITIES
LIMITED, has been dissolved and struck off the
Register according to the Certificate of Dissolution
issued by the Registrar General on the 31st day of

Exulta Anstalt, Kirchstrasse 33,
FL-9490 Vaduz,
Liquidator

92,657, compared to the 90,655
arriving last year. In Grand
Bahama, air arrivals rose by 2.5
per cent, to 18,2116 from 17,773
the previous year.

Overall, sea arrivals to the
Bahamas decreased by 6.4 per
cent. The statistics indicated
that 261,796 persons arrived in
the Bahamas by boat at first
port of enrty, compared to the
279,777 last yeat.

While Nassau recorded a
decrease of 11.3 per cent in sea
arrivals by first port (142,018
compared to the 160,066 arriv-
ing in 2005), Grand Bahama
saw an increase of almost 10,000
more. persons '- up by 48 per
cent, from 19,478 in 2005 to
28,822 - this year.

The Family Islands also saw a
9.3 per cent dlecrease in sea
arraivsl by first port of entry,
which contributed to the overall
decrease in sea arrivals, despite
Grand Bahama’s strong perfor-










mance. }
Arrivals

For the February year-to-
date, Nassau/ Paradise Island’s
cruise arrivals decreased by 11.3
per cent, while Grand Bahama’s
arrivals increased by-35 per cent
and the Family Island sea
arrivals decreased by 8.2 per
cent. This resulted in an 8.2 per
cent decrease in overall arrivals
for the February year to date -
536,839 from 584)613.

The Ministry of Tourism
attributed the decline in cruise
traffic to Nassau/ New Provi-

dence to the fact that a number .

of cruise lines brought in fewer

Also involved is the former
chief financial officer of a UK-
based cable operator called

. NTL, John Gregg. He was for-

merly managing director of two
European broadband cable
operators, Cablecom GmbH
and iesy Hessen GmbH.

Mr Gregg was also managing
director of the Cellular Com-
munications Inc group of com-
panies, which operated cell
phone networks in the US,
Puerto Rico, the US Virgin
Islands and Italy.

With NTL, he had experience
of offering ‘Triple Play’ services,
meaning that telephone, televi-
sion and Internet services were
provided down one line.

passengers than they did last
year, while cruise lines traveling
to Grand Bahama brought in
more passengers. Carnival
increased its Grand Bahama
passenger load by 66 per cent.

In terms of the other Family
Islands, while cruises may have
travelled to the islands, in some
cases, they traveled to another
Bahamian port as the first point
of entry.

In the case of Castaway Cay,
Disney Cruise line stopped in
Nassau before making its way to
its private island. Royal
Caribbean did the opposite
stopping at its private island,
Coco Cay, before sailing into
Nassau.

We would like to advise our clients that we,
VINCENT A. KNOWLES and NIGEL
CASH are not longer associated with

K.A.P. INSURANCE
AGENTS AND BROKERS

We are please to advise that we will continue
to offer insurance services to you!

Contact us at

LAMPKIN & COMPANY

12 Montrose Avenue
Tel: 325-0850, Fax: 326-8024

Mr. Vincent A. Knowles and Nigel Cash



NOTICE

IN THE ESTATE OF RUSSELL :
RAY SUTTON late of 19020 W.

Lake Drive, Miami, Miami-Dade:
County, United States of America,

S Operations Securities Specialist

In order to meet our requirements all applicants
must possess:

*Minimum of BA in Accounting, Banking or
‘Finance or min: three years work experience in
the securities industry;

«Strong emphasis in trade processing,
settlements corporate actions;

Highly skilled in all aspects of Mutual funds
subscription and Redemption;

*Keen knowledge of complex financial
instruments i.e structured products, hedge
funds;

*Strong problem resolution skills;

“Excellent oral and written communication
skills;

*Proficient in Microsoft Excel, bloomberg,
telekurs;

«Completion of the Series 7 or Series 6 course
is a plus;

«Supervisory skills is a plus.

Written applications by Bahamian nationals only
sbould be addressed to:

UBS (Bahamas) Ltd.
Human Resources
P.O. Box N-7757
Nassau, Bahamas





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deceased

NOTICE is hereby given that all persons:
having any claim or demand against the:
above Estate are required to send the same
duly certified in writing to the Undersigned’
on or before the 22nd day of May, 2006,
after which date the Personal Representative
will proceed to distribute the assets having
regard only to the claims of which she shall
then have had notice.

HIGGS & JOHNSON
Attorneys for the Executors
Chambers

P.O. Box N-3247

Ocean Centre

Montagu Foreshore

East Bay Street

Nassau, Bahamas





-THE TRIBUNE

Making a Mark through the business name registration

FROM page 3B

the Act) must contain or consist
-of at least one of the following
,essential particulars:
,. 1. The name of a company,
individual or firm represented
in a special or particular man-
ner.
, 2. The signature of the appli-
cant for registration or some
\predecessor in his business.

_, 3. An invented word or
invented words.

4. A word or words having
no direct reference to the char-
-acter or quality of the goods,
‘and not being, according to its
ordinary signification, a geo-
graphical name or surname.

5. Any other distinctive mark,
but a name, signature, or word
or words, other than one that
falls within the descriptions in
the foregoing clauses, which by
order of the Supreme Court is
deemed to be a distinctive mark
(‘distinctive’ means adapted to
distinguish the goods of the pro-
prietor of the trademark from

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those of other persons).

Any person claiming to be a
proprietor of a trademark who
is desirous of registering the
trademark must apply in writing
to the Registrar, Industrial
Property Department, Regis-
trar General’s Office, as pre-
scribed by the Trade Marks Act
and Trade Marks Rules.

The Registrar does have the
discretion to réfuse an applica-
tion for the registration of trade-
marks, or to accept the appli-
cation subject to certain condi-
tions, amendments or modifi-
cations.

The proprietor/applicant
must complete Form No.1 in
the First Schedule of the Trade
Marks Rules, and every appli-
cation for the registration of a
trademark must contain a rep-
resentation of the mark affixed
to it in the square which is pro-
vided on Form No.2 in the First
Schedule of the Trade Marks
Rules.

Every application for regis-
tration of a trademark must be










Phone: (242) 325-6770
#34 Blue Hill Rd.
Opposite Government Gardens



The Federal Republic
of Germany

The Public is advised that effective

immediately, the new office hours are as

follows:

Tuesday - 2:00 pm - 4:00 pm
Thursday - 2:00 pm - 4:00 pm

During this period the Honorary Consul will

be able to review applications for Schengen

Visas, Passports and other Consular Matters.

| Please also be advised that the office is situated

in Alliance House on East Bay Street.



BUSINESS

accompanied by four additional
representations of the mark on
Form No.3 in the First Schedule
of the Trade Marks Rules.
Application may also be made
for the registration of the same
mark in different classes of

_ goods.

Upon receipt of the applica-
tion for registration, the Regis-
trar will furnish the applicant
with an acknowledgement of
the application. The Registrar
will then conduct a search of
the existing registered trade
marks and.pending applications
for registration in order to
ascertain whether there are any
trademarks on the Register of
Trade Marks that are for the
same goods or description of
goods identical to the trade
mark being registered by the
applicant.

After the search, the Regis- —

trar may accept the trademark
absolutely or subject to condi-
tions, amendments and modifi-
cations, which he will notify the
application in writing. Once












. Bahamas.

NOTICE

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

NOTICE

NOTICE is hereby given that EUNIDE LOUISSAINT OF P.O.
BOX N-4185, WEST STREET, 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 4TH day of MAY, 2006 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N- 7147, Nassau, Bahamas.

accepted, the Registrar will
advertise the trademark in the
Official Gazette (local newspa-
per), during which time any per-
son may, within one month
from the date of the advertise-
ment in the Gazette, give notice,
in writing, to the Registrar's
General's Office of his opposi-
tion to the registration.

At the expiration of the one-
month period for the advertise-
ment, the Registrar may, sub-
ject to any opposition to the

registration and the payment of
the Government fee for regis-:

tration, enter the trademark on
the Official Register of Trade
Marks. Upon registration of the
trademark, the Registrar will
issue a Certificate of Registra-
tion to the applicant.

Once registration has been
completed and a Certificate of
Registration issued, all regis-
tered trademarks are kept at
the Registry of Records in a
Register of Trade Marks.

The proprietor of a trade-
mark may assign it or allow oth-












THURSDAY, MAY 11, 2006, PAGE. 5B




ers to use it. However, if a per-
son uses a registered trade mark
without the proprietor’s per-
mission or uses a mark that is
likely to be confused with the
registered trademark, the pro-
prietor can sue that person for
infringement of trademark, and
initiate court action for an
injunction and/or damages, or
an account of profits.

NB: The information con-
tained in this article does not
constitute nor is it a substitute

-for legal advice. Persons reading

this article and/or column, gen-
erally, are encouraged to seek

the relevant legal advice-and
assistance regarding issues that
may affect them and may relate
to the information presented:
© 2006. Tyrone L. E. Fitzger-
ald. Allrights reserved. +:
Tyrone L. E. Fitzgerald is‘a
practising attorney in the Cham-
bers of Fitzgerald & Fitzgerald,
Counsel, Attorneys-at-Law, and
Notaries Public. Should you
haye any. comments or enquiries
regarding the content of this
article, you may contact Mr
Fitzgerald at Suite 212, Lagoon
Court Building, Olde Towne
Mall at Sandyport, West ‘Bay
St., P. O. Box CB-11173 3" +

h

NOTICE.

NOTICE is hereby given that RODNE FERTILIEN OF MINNIE
STREET, 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 4TH day of MAY, 2006 to the Minister responsible
for Nationality and Citizenship, RO.Box N- 7147, Nassau}

Bahamas.

L












mentioned areas. |









BADING LAW FIRM.

invites applications for an attorney for Abaco Office.

Applicants must have a minimum of 3 years experience
in the areas of Conveyancing and Litigation, demonstrate
an ability to work independently and possess a thorough
working knowledge and technical competence in the

Successful applicants can look forward to competitive’
remuneration and benefits.

Apply in confidence to: '

G. Bastian
P.O. Box N-3247
Nassau, Bahamas
Or to:
glosbastian @hotmail.com



wy eee eh

a
#









PAGE 6B, THURSDAY, MAY 11, 2006

wa eK ea

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Ka KH



Fidelity Merchant Bank & Trust Limited = —
(Incorporated under the laws of the Commonwealth of The Bahamas)

Consolidated Balance Sheet
As of 31 December 2005
(Amounts expressed in Bahamian dollars)
2005 2004
~$ $
ASSETS
Cash on hand and at banks (Note 3) 14,510,447 10,694,099
Investment in associate (Note 2 (c)) 888,354 842,867
Investment securities
-financial assets at fair value through profit or loss (Note 4) 12,906,124 9,093,245
-government securities (Note 5) 1,683,500 1,210,300
Loans and advances to customers (net) (Note 6) 4,388,225 4,802,241
Receivables and prepayments (Note 7) 913,533 2,494,807
Property, plant and equipment (Note 8) 603,502 : 606,971
35,893,685 29,744,530
LIABILITIES
Customer deposits (Note 9) 25,742,078 25,633,339
Other liabilities and accrued —

expenses (Note 10)

6,132,486 592,843

31,874,564 26,226,182

EQUITY
Capital and reserve attributable to the Bank’s

equity holders
Share capital.— ordinary shares (Note 13) 1,000,000 1,000,000
Share capital — preference shares (Note 14) 2,000,000 2,000,000
Retained earnings 1,019,121 518,348 -

TOTAL LIABILITIES AND EQUITY

bases. 4,019,121 3,518,348

29,744,530

35,893,685

Approved on behalf of the Board of Directors:

Av —iisiente oa!
Director



20 April 2006

Date

NOTES

1. Incorporation and activity

Fidelity Merchant Bank & Trust Limited (the Bank) was incorporated under the laws of the
Commonwealth of The Bahamas on 19 June 1998, and has been granted an unrestricted bank and
trust licence under the provisions of the Banks and Trust Companies Regulations Act, 2000. :

The Bank, through its wholly-owned subsidiaries incorporated in The Bahamas, Fidelity Capital
Markets Limited (FCML), Fidelity Share Register & Transfer Agents Limited FSRTAL) and Fidelity
Pension & Investment Services Limited (FPISL), and its branch office in Freeport, Grand Bahama,
offers a full range of private banking, investment management, share register and transfer agency,
pension, brokerage ’and investment advisory services.

The Bank is a wholly-owned, subsidiary of Fidelity Bank & Trust International Limited (the Parent
Company), which is incorporated in the Commonwealth of The Bahamas. The registered office of the
Bank is situated at #51 Frederick Street, Nassau, The Bahamas. ‘

The number of persons employed by the Bank as of 31 December 2005 was 37 (2004: 25).

‘Summary of significant accounting policies

The principal accounting policies adopted in the preparation of these consolidated balance sheet
are set out below. These policies have been consistently applied to all the years presented, unless
otherwise stated.

(a) Basis of preparation

(b)

(c)

(d)

©

@

The consolidated balance sheet has been prepared in accordance with International. Financial
_Reporting Standards (IFRS). The consolidated balance sheét is prepared under the historical
cost convention, as modified by the revaluation of financial assets and financial liabilities
held at fair value through profit or loss.

The preparation of the consolidated balance sheet in conformity with IFRS requires the use
of certain critical accounting estimates. It also requires management to exercise its
judgement in the process of applying the Bank’s accounting policies. The areas involving a
higher degree of judgement or complexity, or areas where assumptions and estimates are
significant to the consolidated balance sheet, is disclosed in Note 19.

Consolidation

Subsidiaries are all entities over which the Bank has the power to govern the financial and

operating policies generally accompanying a shareholding of more than one half of the
voting rights. The existence and effect of potential voting rights that are currently exercisable
or convertible are considered’ when assessing whether the Bank controls another entity.

‘Subsidiaries are fully consolidated from the date on which control is transferred to the Bank.

They are de-consolidated from the date that control ceases.

Inter-company transactions, balances and unrealised ‘gains on transactions between group
companies are eliminated. Unrealized losses are also eliminated unless the transaction
provides evidence of impairment of the asset transferred. Accounting policies of subsidiaries
have been changed where necessary to ensure consistency with the policies adopted by the
Bank. ;

- Thé consolidated balance sheét includes the accounts of the Bank and its subsidiaries,
FCML, FSRTAL and FPISL after elimination of all significant inter-company transactions.

Investment in associate

Associates are entities over which the Bank has significant influence but not the power to
govern the financial and operating policies, generally accompanying a shareholding of

between 20% and 50% of the voting rights. Investments in associates are accounted for using ~

the equity method of accounting and are initially recognised at cost. As of 31 December
2005, the Bank had a 33.33% ownership interest in West Bay Development Company, which
is incorporated in the Commonwealth of The Bahamas and its activities consist of holding
investment property for the purposes of rental income andi capital appreciation.

Fiduciary activities



The Bank commonly acts as trustee and in other fiduciary capacities that result in the holding
or placing of assets on behalf of individuals, trusts, retirement benefit plans and other
institutions. These assets and income arising thereon are excluded from this corisolidated
balance sheet, as they are not assets of the Bank and its subsidiaries.

Foreign currency translation
i) Functional and presentation currency

Items included in the,consolidated balance sheet of the E mk are measured using the
currency of the primary economic environment in which the entity operates (“the
functional currency”). The consolidated balance sheet is presented in Bahamian
dollars, which is the Bank’s functional and presentation currency.

ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the
exchange rates prevailing at the date of the transactions. Foreign exchange gains and
losses resulting from the settlement of such transactions and from the translation of
monetary assets and liabilities denominated in foreign currencies are recognized in
the consolidated statement of operations. Translation differences. on monetary
financial assets measured at fair value are included in foreign exchange gains and
losses.

Financiai assets

The Bank classifies its financial assets as financial assets at fair value through profit or loss
and loans and receivables. Management determines the: classification of its investment at
initial recognition. Tt ytSee ,

i) Financial assets at fair value through profit or loss

This category has two sub-categories: financial assets held for trading, and those
designated at fair value through profit or loss at inception. A financial asset is
classified in this category if acquired principally for the purpose of selling in the
short term or if so designated by management. °

Management determines the appropriate classification. of its investments at the time

"of purchase. Fair values of exchange-traded securities are determined using the closing
market price at the close of trading on the balance sheet date. The fair value of over-
the-counter securities are determined using the average bid price quoted by local broker
dealers. Securities for which no quoted price is available are valued by Directors.
Changes in the fair value of investments are included as net unrealised appreciation
or depreciation on in the consolidated statement of operations.

fi) Government securities
Government securities have been designated as financial assets at fair value through

profit or loss. Government securities are carried at amortized cost which
approximates fair value.



(g)

(h)

@)

@)

iii) Loans and receivables

THE TRIBUNE BUSINESS

4

Loans and receivables are non-derivative financial assets. with fixed or determinable
payments that are not quoted in an active market. They arise when the Bank provides
money, goods or services directly to a debtor with no intention of trading the
receivable.

Purchases and sales of financial assets at fair value through profit or loss are
recognized on trade-date — the date on which the Bank commits to purchase or sell
the asset: Loans are recognized when cash is advanced to the borrowers. Financial
assets are derecognized when the rights to receive cash flows from the financial
assets have expired or where the Group has transferred substantially all risks and
rewards of ownership.

Trades executed on behalf of customers are recorded on the trade date which is the
date that the Bank commits to purchase or sell the investments. For securities trade
transactions executed through BISX, the Bank records a net settlement receivable or
payable to the other broker-dealer on settlement date. Other brokerage fees. are
recognised at the time the customers’ account is charged. :

Valuation of financial guarantee contract

The financial guarantee contract is recorded at fair value on the date on which the agreement
is entered into and subsequently re-measured at fair value at each reporting date. Fair value is
determined as the difference between the amounts the Bank would receive from the contract
counterparty in excess of the amount the Bank would pay to the counterparty under the terms
of the financial guarantee contract. (See Note 15 (b)).

Loans and advances to. customers

Loans and advances are comprised principally of amounts that were originated by the Bank
and are recognised when cash is advanced to borrowers.

Loans and advances are stated at the principal amount outstanding plus accrued interest and are
comprised principally of fully collateralised loans. The Bank generally receives cash or
marketable securities as collateral. The marketable securities held as collateral for loans are not
reflected in the consolidated balance sheets.

As soon as the recovery of a loan or advance is identified as doubtful, a specific credit risk
provision for loan impairment is established to reduce the carrying value of the loan to its ,
estimated realizable amount. The credit risk provision also covers losses where there is
objective evidence that probable losses are present in the lending portfolio at the balance
sheet date. but which have not been specifically identified as such.

: Non-performing assets

Non-performing assets include all loans on which the status of overdue payments of principal
and interest are such that management considers it prudent to classify them to non-performing
status. All loans and advances to customers on which principal and interest payments are
overdue by in excess of ninety days are considered by management to be non-performing.

. When a loan is classified as non-performing, all interest previously accrued in the current year,

but not collected, is reversed against current year interest income and any interest accrued in
Prior years is charged against the provision for loan losses. Notwithstanding these parameters,
where a customer has re-established a pattern of prompt payment, management may agree to
reschedule arrears of loan interest and principal. Thereafter, interest income will be recognised
on an accrual basis.

Property, plant and equipment

Property, plant and equipment are stated at historical cost less accumulated depreciation and
amortization. ‘

Subsequent costs are included in the asset’s carrying amount or are recognised as a separate

asset, as appropriate, only when it-is probable that future economic benefits associated with

the item will flow to the Bank and the cost of the item can be measured reliably. All other

repairs and maintenance are charged to the statement of operations during the financial
. period in which they are incurred. : i

Depreciation and amortization are calculated using the straight-line method to allocate their
cost to their residual values over. their estimated useful lives as follows:

Estimated
useful life
Motor vehicles . 4 years
Furniture and fixtures 10 years
Equipment 5 years
Leasehold improvements : 5 years

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each
balance sheet date. : .

__,.Assets_that are subject to. amortization are reviewed. for.impairment-whenever events o1

()

Q

(m)

(n)

(0)

©)

(a)

price.

changes in circumstances indicate that the carrying amount may not be recoverable. An
asset’s carrying amount is written down immediately to its recoverable amount if the asset’s
carrying amount is greater than its estimated recoverable amount. The recoverable amount
is the higher of the asset’s fair value less costs to sell and value in use.

Leases

_ The Bank is the lessee

The leases entered into by the Bank are primarily operating leases. The total payments made
under operating leases are charged to the statement of operations on a straight-line basis over
the period of the lease. :

When an operating lease is terminated before the lease period has expired,,any payment
required to be made to the lessor by way of penalty is recognised as an expense in the period
in which termination takes place. - .

Interest income and expense recognition

Interest income and expense are recognised in the statement of operations for all instruments
measured at amortised cost using the effective interest method.

The effective interest method is a method of calculating the amortised:cost of a financial
asset or a financial liability and of allocating the interest income or interest expense over the
relevant period. The effective interest rate is the rate that exactly discounts estimated future
cash payments or receipts through the expected life of the financial instrument or, when
appropriate, a shorter. period to the net carrying amount of the financial asset. or financial
hiability.. When calculating the effective interest rate, the Bank estimates cash flows
considering all contractual terms of the financial instrument (for example, prepayment
options) but does not consider future credit losses. The calculation includes. all fees and
points paid or received between parties to the contract that are an integral part of the
effective interest rate, transaction costs and all other premiums or discounts.

Interest income and expenses are recognised on an accrual basis. The recognition of interest
income on loans is suspended when loans are in non-accrual status. Such income is excluded
from iriterest income until received.

Non-interest income recognition

Other income earned by the Bank, comprising principally of fees and commissions, is
generally recognised on an accrual basis. Realized gains and losses arising from the sale of
financial assets at fair value through profit or loss are recognised on the trade date.
Brokerage commissions earned on the purchase and sale of securities for its customers are
recognised on the settlement date. Other banking and brokerage fees are recognised at the
time the customers’ account is charged.

Offsetting of financial instruments

Financial assets and liabilities are offset and the net amount reported in the balance sheet
when there is a legally enforceable right to offset the recognized amounts and there is an
intention to settle on a net basis, or realize the asset and settle the liability simultaneously.

Impairment of financial assets
Assets carried at amortized cost

The Bank assesses at each balance sheet date whether there is objective evidence that a
financial asset or group’ of financial assets is impaired. A financial asset or a group of
financial assets is impaired and impairment losses are incurred if, and only if, there is
objective evidence of impairment as a result of one or more events that occurred after the
initial recognition of the asset (a ‘loss event’) and that loss event (or events) has an impact on
the estimated future cash flows of the financial asset or group of financial assets that can be
reliably estimated.

If there is objective evidence that an impairment loss on loans and receivables or held-to-
maturity investments carried at amortized cost has been incurred, the amount of the loss is
measured as the difference between the asset’s carrying amount and the present value of
estimated future cash flows (excluding future credit losses that have not been incurred)
discounted at the financials asset’s original effective interest rate. The carrying amount of the
asset is reduced through the use of an allowance account and the amount of the loss is
recognized in the statement of operations. If a loan or held-to-maturity investment has a
variable interest rate, the discount rate for measuring any impairment loss is the current
effective interest rate determined under the contract. As a practical expedient, the Bank may
measure impairment on the basis of an instrument’s fair yalue using an observable market

Cash and cash equivalents —

For the purpose of the consolidated statement of cash flows, cash and cash equivalents
comprise balances with less than three months’ maturity from the date of acquisition, including
cash and restricted balances with The Central Bank of The Bahamas, loans and advances to
banks, amounts due from other banks and short-term government securities.

Provisions

Provisions for restructuring costs and legal claims are recognised when the Bank has a present
legal or constructive obligation as a result of past events; it is more likely than not that an
outflow of resources will be required to settle the obligation; and the amount has been reliably
estimated.



















3.

(r) Ordinary share capital

i) Share issue costs

Incremental costs directly attributable to the issue of new shares or options or to the
acquisition of a business are shown in equity as a deduction, from the proceeds.

fi) Dividends on ordinary shares

Dividends on ordinary shares are recognised in equity in the period in which they are
approved by the Bank’s Directors.

Dividends for the year that are declared after the balance sheet date are dealt with in the
subsequent events note.

iii) Treasury shares

Where the Bank or other members of the consolidated Group purchases the Bank’s
equity share capital, the consideration paid is deducted from total equity as treasury
shares until they are cancelled. Where such shares are subsequently sold or reissued,
any consideration received is included in equity.

(s) Preference share capita:

Preference shares on which dividends are payable at the discretion of the Directors, have no
specific date for redemption and on which the shareholder has no option for redemption, are
classified as share capital and are presented in share capital.

i) Share issue costs

Incremental costs directly attributable to the issue of new shares or options or to the
acquisition of a business are shown in equity as a deduction, from the proceeds.

ii) Dividends on preference shares

Dividends on preference shares are recognised in equity in the period in which they
are approved by the Bank’s Directors.

Dividends for the year that are declared after the balance sheet date are dealt with in
the subsequent events note.

(t) Employee benefits i ;

Pension obligations

The Bank has a defined contribution plan: A defined contribution plan is a pension plan
under which the Bank pays fixed contributions into a separate entity. The Bank has no legal
or constructive obligations to pay further contributions if the fund does not hold sufficient
assets to pay all employees the benefits relating to employee service in the current and prior

periods.

(u) Comparatives

°

Where necessary, comparative figures have been adjusted to conform with changes in
presentation in the current year. The principal change relates to the preference shares issued
in 2004 in the amount of $2,000,000 which have been reclassified from liabilities to share
capital in accordance with the International Accounting Standard 32. Dividends relating to.
these shares have also been reclassified from the consolidated statement of operations to the

consolidated statement of changes in equity.

Cash on hand and at banks
2005 2004
: $ $
e
Cash on hand and deposits with banks 13,434,284 9,690,499
Mandatory reserve deposit 1,076,163 1,003,600
14,510,447 10,694,099

‘Mandatory reserve deposits are not available for use in the Bank’s day to day operations. Cash on

hand and balances with central banks and mandatory reserve deposits are non-interest-bearing.
Other money-market placements are floating-rate assets. ,

4. Financial assets at fair value throfigh profit or loss

5.

6.

2004

8 2005
_ Value ~.. Value. ~
$ $
Mutual Funds:
Fidelity Bahamas. Growth & Income Fund . 9,913,322 -
Fidelity Bahamas Prime Income Fund 254,622 -
Equity securities listed on BISX 1,318,501 7,670,636
Fixed income securities 1,295,713 1,105,916
Over the counter . 6,270 135,385
Not quoted 117,696. 181,308
; 12,906,124 9,093,245
Government securities
Due . Nominal _. Value
Interest Rate Date Value 2005 2004
$ a Gs $
Prime + 0.875 2 December 2005 - =" 2,000
Prime + 0.6875 7 May 2007 100,000 100,000 100,000
Prime + 0.75 7 May 2008 100,000 ‘ 100,000 100,000
Prime + 0.50 20 September 2009 190,000 190,000 . -
Prime + 0.3125 21 October 2009 150,000 . 150,000 150,000
Prime + 0.9375 5 July 2011 10,000 10,000 —~ -10,000
Prime + 1.00 24 March 2014 129,000 129,000 129,000
Prime + 0.625 22May 2014 6,500 6,500 6;500
Prime + 0.9375 21 July 2014 1,000 1,000 1,000
Prime + 1.125 15 October 2015 75,000 75,000 75,000
Prime + 0.1875 4 December 2015 90,000 90,000 90,000
. Prime + 1.25 15 October 2017 50,000 50,000 50,000
Prime + 0.25 24 March 2019 110,000 110,000 110,000
Prime + 0.15625 22 October 2019 29,700 29,700 -
Prime + 0.50 21 September 2020 10,000 10,000’ 10,000
Prime + 0.50 25 October 2020 55,000 . 55,000 - 55,000
Prime + 0.21875 29 July 2021 185,200: 185,200” -
Prime + 0.5625 30 July 2021 50,000 - 50,000 50,000
Prime + 0.375 4 December 2021 100,000 100,000 100,000
Prime + 0.5625 12 December 2021 12,000 12,000 12,000
Prime + 0.4062 6 September 2022 10,000 10,000 10,000
Prime + 0.25. 29 July 2022 5,200 5,200 _-
Prime + 0.25 22 October 2022 34,000 34,000 -
Prime + 0.4062 4 December 2022 100,000 100,000 100,000
Prime + 0.375 8 April 2023 24,200 24,200 13,800
Prime + 0.375 21 July 2023. 20,000 20,000 20,000
Prime + 0.28125 29 July 2023 10,400 10,400 -
Prime + 0.28125 22 October 2023 23,800 23,800 -
Prime + 0.375 9 February 2024 . - 9,000
Prime + 0.3125 29 July 2024 2,500 2,500 __—'7,000
As of 31 December 2005, prime was 5.50%.
Loans and advances to customers (net)
* 2005 2004
$ $
Unsecured advances to customers 6,990 29,514
Loans and advances to customers secured by:
Marketable Bahamian securities 4,573,290 4,446,040
Other 645,235 676,461
Less: Provision for losses (837,290) (349,774)
4,381,235 _ 4,772,727
4,388,225 4,802,241



The movements in the provision for credit losses during the year are as follows:

2005 2004

8 $ $
Balance at beginning of year 349,774 259,552
Provided during the year 293,603 . 201,524

Write-offs Soh ME (257,480)
Reversal of accrued interest 193,913 146,178

837,290 349,774

Average interest rates on loans and advances to customers range from 7.5% to 14.5%.

a fan loans and advances to customers at 31 December 2005 are $1,300,989 (2004:

7. Receivables and prepayments

2005 2004
‘ $ $
Accrued interest 48,321 46,885 ~
Due from affiliates 140,905 1,107,251
Due from Parent Company - 583,591
Accrued corporate finance fees 243,056 264,834
Other : 377,958 270,446
Prepayments 103,293 221,800

913,533 2,494,807

8. Property, plant and equipment

Furniture
Motor and Leasehold
Vehicles Fixtures Equipment Improvements Total
$ $ $ 5 §

Year ended

31 December 2004
‘Opening net book value 20,183 327,990 150,225 110,553 608,951
Additions 100,557 12,168 164,866 1,430. 279,021
Disposals (1,500) (2,500) °. - (4,000)
Depreciation (64,616) (58,238) (91,165) (62,982) (277,001)
Closing net book value 56,124 _ 280,420 __ 221,426 49,001 606,971
As of 31 December 2004

Cost : : 163,547 581,048 862,745 516,681 2,124,021 |

Accumulated depreciatio

(107,423) _ (300,628) — (641,319) (467,680) _ (1,517,050)



Net book value 56,124 _ 280,420 _ 221,426 49,001 606,971
Year ended .
31 December 2005
Opening net book value - 56,124 280,420 221,426 49,001 606,971
Additions ; - . 225,740 - 225,740
Disposals : : é - -
Depreciation (24,263) __ (58,569) _(104,005) ___ (42,372) __ (229,209)
Closing net book value 31,861 __221,851 __343,161 6,629 ___ 603,502
As of 31 December 2005
Cost 163,547 581,048 1,088,485. 516,681 2,349,761
Accumulated depreciation (131,686) _ (359,197) _ (745,324) (510,052) _(1,746,259)
Net book value 31,861 221,851 __ 343,161 6,629 603,502
9. Customer deposits.
- 2005 2004
$ '$
Deposits 18,603,607 8,621,572
Savings certificates ae ee ae aw 6,985,707 16,649,021
Accrued interest s iagh yar see 152,764 an 362,746

25,742,078 | 25,633,339

Average interest rates on customer deposits range from 2.5% to 6%.

10. Other liabilities and accrued expenses :
: 2004

2005—.
$ : $

Dividends payable on preference shares 37,500 12,500
Other liabilities and accrued expenses 565,086 - 517,175...
Funds held pending settlement 4,983,188 -
Due to Parent Company 426,513 Se
Due to affiliates i ‘120,199 63,168 -

| __ 6132486 _,_ 592,843

?

Funds held pending settlement represents funds received from investors, in connection with
securities offerings that were not released until after year end.
11. Maturity analysis of assets and liabilities

The relevant maturity analysis of assets and liabilities based on the remaining period at the balance
sheet date to the contractual maturity date are as follows: :

Cash on hand Loans and Customer
andatbanks advances to customers deposits
$8 : $ $

Demand ~ 14,510,447 4,388,225 = 18,756,371
0-3 months - - 3,588,868
4-6 months - “7 1,557,245
7-9 months ; : - - 965,226

. 10-12 months : - ge 459,368
Greater than 12 months - - 415,000
14,510,447 _ 4,388,225 _ 25,742,078

12. Assets and liabilities by geographical location

Significant assets and liabilities as at balance sheet date are analysed by geographical location as

follows:
Cash on hand Loans and Customer
and at banks Investments _advances to customers deposits
$ $ $e $
The Bahamas 11,321,206 14,382,441 3,984,223 21,085,579
North America 3,189,241 © 207,183 404,002 4,656,499
14,510,447 14,589,624 4,388,225 25,742,078
13. Share capital — ordinary shares :
2005 2004
Authorised : $ $
1,000,000 ordinary shares of $1.00 each
Issued and fully paid
1,000,000 ordinary shares of $1.00 each 1,000,000 1,000,000
14. Share capital - preference shares
: 2005 2004
Authorised $ $
2,000,000 preference shares of $1.00. each ‘
Issued and fully paid
2,000,000 preference shares of $1.00 each 2,000,000 2,000,000

On 1 December 2004, the Bank issued 2,000,000 cumulative redeemable non-voting preference
shares with a par value of $1.00 per share, which are redeemable at the option of the. Bank subject
to the approval of The Central Bank of The Bahamas. .

The preference shares carry a dividend rate of Bahamian Prime + 0.75%, subject to a minimum rate
of 7.50%, payable quarterly in arrears. Dividends are declared by the Board of Directors in their
sole discretion. The preference shares rank ahead of the ordinary shares in the event of liquidation.

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- PAGE 8B, THURSDAY, MAY 11, 2006

15. Related party balances and transactions

16.

17.

18.

‘19.

20.

Related parties include those entities and directors which have the ability to control or exercise
significant influence over the Bank in making financial or operational decisions, and entities that
are controlled, jointly controlled or significantly influenced by them.

The Bank engages in significant transactions with its parent and affiliated companies. Business
policies and economic decisions of the Parent Bank affect or dictate, to a substantial extent, the
Bank’s activities. Because of these relationships, it is possible that the extent and/or terms of these
transactions are not the same as those that would result from transactions among wholly unrelated
parties.

Significant balances and transactions with related parties included in the consolidated financial

statements, but not separately disclosed, are as follows: :

2005 2004
$ $
Balance Sheet
Cash on hand and at banks 689,650 156,705
Loans and advances to customers 1,036 7,402
Receivables and prepayments / 144,170 1,690,842
Customer deposits : - 46,541
Other liabilities and accrued expenses 546,712 63,168
Statement of Operations :
Interest income 34,365 152,435 -
Net realized (loss) on financial guarantee contract (295,206) (278,367)
General and other administrative expenses 180,849 229,354
Technical fees 455,148 543,483

a) Receivables and prepayments

Receivables and prepayments include amounts due from certain Directors and/or officers of
the Bank amounting to $3,265 (2004: SNil). :

b) Other liabilities and accrued expenses

Pursuant to an agreement dated 1 July 2002, the Bank and the Parent Company have entered
into a financial guarantee contract whereby the Bank would receive from the Parent
Company the amount by which the retum on its portfolio of Bahamian securities was less
than five percent (5%). In exchange for the guaranteed return of 5%, the Bank will pay to the
Parent Company fifty percent (50%) of gains on its portfolio of Bahamian securities in excess
of five percent (5%). The gain or loss on the financial guarantee contract is calculated and
accrued monthly and settled net within one month subsequent to the anniversary date of the
agreement. The agreement is automatically renewed for successive terms of one year and
may be terminated by either party giving at least six months written notice. The agreement
was terminated effective 30 June 2005. - ate 2

Realized gains and losses from the financial guarantee contract are included in the
consolidated statement of operations.

Included in other liabilities and accrued expenses is $120,199 (2004: $63,168) due to an
affiliate company. Pursuant to an informal arrangement, the Bank pays certain operational
expenses on behalf of the affiliate entity, whose principal activity includes the rental of
investment property. The arrangement is such that the Bank will offset its rental payments
owed to the affiliate against the receivable.

t

c) Technical fees

The Bank entered into an arrangement with the Parent Company, effective 1 January 2004,
under which, in exchange for corporate finance services rendered on behalf of the Bank by
employees of the Parent Company, the Bank agreed to pay the Parent Company 50% o
corporate finance fees earned by the Bank. :

d) Common sharing costs

Pursuant to an informal arrangement, the Bank’s operational expenses, which are not directly
attributable to itself or its subsidiaries, are allocated to each entity based on the Directors’
estimate of the business and operating activities of each entity.

’

Key management compensation for the year was $501,000 (2004: $461,000).

Director’s compensation for the year was $47,000 (2004: $3,196).

Pension plan

Effective 30 June 2000, the Bank established a defined contribution plan (the Plan): All persons
employed by the Bank on a full time basis are required to participate in the Plan. Assets of the
Plan are held in a separately administered fund.

The Plan is funded from both employer and employee contributions and employees become fully
vested upon completion of ten years of service.

The Bank’s pension expense for the year ended 31 December 2005 was $93,333 (2004; $53,250).
Pension costs are included in salaries and staff benefits in the consolidated statement of operations.

Commitments
i) Lease commitments

On 1 July 2005, the Bank entered into a lease agreement to rent office space on New
Providence from West Bay Development Company Limited, an affiliated company, for a
period of 5 years. The Bank also entered into a new lease agreement with Frederick Street
Properties dated 17 May 2005 for a period of two years. The Bank’s lease agreement, dated 6
January 2003, with First Commercial Centre Limited, Grand Bahama, for a period of 3 years
expires on 31 January 2006 at which time it will be leased on a month to month basis.

The future minimum rental payments required under the operating leases that have initial
non-cancellable lease terms in excess of one year as of 31 December 2005 are as follows:

-§$
2006 318,015
2007 280,759
2008 : ag 255,378
2009 255,378
2010 127,689
Total minimum payments 1,237,219
Total rental expense for the year ended 31 December 2005 totalled $275,130 (2004:

$217,172). :
fi) Loan commitments
_ As of 31 December 2005, the Bank had loan commitments of $812,082 (2004: $956,848).

Dividends per preference shares

The Board of Directors declared quarterly dividends of $0.01875 (7.5%) per share in respect of
each quarter ended 31 March 2005, 30 June 2005, 30 September 2005 and 31 December 2005.
These dividends were paid on 31 March 2005, 30 June 2005 and 30 September 2005. The 31
December 2005 dividend was paid subsequent to the year end.

2005 2004

$ $
’ Dividends payable at the beginning of the year 12,500 -
Dividends declared during the year 150,000 12,500
Dividends paid during the year (125,000) -
Dividends payable at the end of the year 37,500 12,500

Critical accounting estimates and judgements in applying accounting policies

The Bank makes estimates and assumptions that affect the. reported amounts of assets and
liabilities within the next financial year. Estimates and judgements are continually evaluated and
are based on historical experience and other factors, including expectations of future events that
are believed to be reasonable under the circumstances.

Impairment losses on loans and advances

The Bank reviews its loan portfolios to assess impairment at least on a quarterly basis. In
determining whether an impairment loss should be recorded in the statement of operations, the
Bank makes judgements as to whether there is any observable data indicating that there is a
measurable decrease in the estimated future cash flows from a portfolio of loans before the
decrease can be identified with an individual loan in that portfolio. This evidence may include
observable data indicating that there has been an adverse change in the payment status of
borrowers in a group, or national or local economic conditions that correlate with defaults on assets
in the group. Management uses estimates based'on historical loss experience for assets with credit
risk characteristics and objective evidence of impairment similar to those in the portfolio when
scheduling its future cash flows. The methodology and assumptions used for estimating both the
amount and timing of future cash flows are reviewed regularly to reduce any differences between
loss estimates and actual loss experience.

Financial risk management

Fiduciary risk

i i i i ich i i fail in carrying out
The Bank is susceptible to fiduciary risk, which is the risk that the Bank may
certain mandates in accordance with the wishes of its customers. To manage exposure, the Bank
generally takes a conservative approach in its undertakings.

Strategy in using financial instruments

their nature, the Bank’s activities are principally related to the use of financial instruments. The
Ros deposits from customers at both fixed and floating rates, and for various periods, ~
seeks to earn above-average interest margins by investing these funds in high-quality assets. The
Bank seeks to increase these margins by consolidating short-term funds and lending for longer
periods at higher rates, while maintaining sufficient liquidity to meet all claims that might fall due.

The Bank also seeks to raise its interest margins by obtaining above-average margins, net of

allowances, through lending to commercial and retail borrowers with a range of credit standing.
Such exposures involve not just on-balance sheet loans and advances; the Bank also enters into
guarantees and other commitments such as letters of credit and performance, and other bonds.



THE TRIBUNE BUSIN

Credit risk ati

The Bank takes on exposure to credit risk, which is the risk that a counterparty will be unable to
pay amounts in full when due. Impairment provisions are provided for losses that have been
incurred at the balance sheet date. Significant changes in the economy, or in the health of a
particular industry segment that represents a concentration in the Bank’s portfolio, could result in
losses that are different from those provided for at the balance sheet date. Management therefore
carefully manages its exposure to credit risk.

The Bank structures the levels of credit risk it undertakes by placing limits on the amount of risk
accepted in relation to one borrower, or groups of borrowers, and to geographical and industry
segments. Such risks are monitored on a revolving basis and subject to an annual or more frequent
review. Limits on the level of credit risk by product, industry sector and by country are‘approved
by the Board of Directors. wand:

The exposure to any one borrower including banks and brokers is further restricted by sub-limits
covering on-and off-balance sheet exposures, and daily delivery risk limits in relation’ to trading
items such as forward foreign exchange contracts. Actual exposures against limits are monitored
daily. yg ,

Exposure to credit risk is managed through regular analysis of the ability ‘of: borrowersand
potential borrowers to meet interest and capital repayment obligations and by changing these
lending limits where appropriate. Exposure to credit risk is also managed in part by. obtaining -
collateral and corporate and personal guarantees. ee ae

4 s
The Bank’s deposits and investments are placed with high credit quality financial institutions ‘and
corporations. Loans are presented net of provisions for loan losses. Whilst the majority of loans are
secured by listed securities, overdrafts advanced in the normal course of business are generally
unsecured. eh

Credit-related commitments

The primary purpose of these instruments is to ensure that funds are available to.a customer as
required. Guarantees — which represent irrevocable assurances that the Bank will make payments
in the event that a customer cannot meet its obligations to third parties — carry the same credit risk

as loans. Hiea:






Commitments to extend credit represent unused portions. of authorisations to extend it: in the
form of loans, guarantees or letters of credit. With respect to credit risk on commitments to « xtend
credit, the Bank is potentially exposed to loss in-an amount equal to the total unused ‘commitments,
However, the likely amount of loss is less than the total unused commitments, as most
commitments to extend credit are contingent upon customers maintaining specific credit standards.
The Bank monitors the term to'maturity of credit commitments because longer-term ‘commitments
generally have a greater degree of credit risk than shorter-term commitments.



Geographical concentrations of assets and liabilities

The Bank has a concentration of risk in respect of geographical ar bo
securitised assets are primarily based in New Providence and Grand Babar . 2 Pe ss



Cash flow and fair yalue interest rate risk

Cash flow interest rate risk is the risk that the future cash flows of a financial instrument will
fluctuate because of changes in market interest rates. Fair value interest rate risk is the risk that the
value of a financial instrument will fluctuate because of changes in market interest rates. The Bank
takes on exposure to the effects of fluctuations in the prevailing levels of market interest rates on
both its fair value and cash flow risks. Interest margins may increase as a result of such changes
but may reduce or create losses in the event that. unexpected movements ‘arise. ‘The’ Board séts
limits on the level of mismatch of interest rate re-pricing that may be undertaken, which is
monitored daily. : x rs

The Bank employs effective techniques and procedures to monitor and control its exposure to *
interest rate risk. Mortgage, consumer, and other loans have variable rates, linked to The
Bahamian dollar prime rate. Exposure to interest rate risk, which is mainly due to fixed rates both
its term deposits with banks and savings certificates sold to customers, is minimised by the short-
term maturities of the majority of these deposits. :

Liquidity risk

The Bank is exposed to daily calls on its available cash resources from overnight deposits, current
accounts, maturing deposits, loan draw-downs and guarantees, and from margin and other calls on
cash-settled derivatives. The Bank does not maintain cash resources to meet all of these needs, as
experience shows that a minimum level of reinvestment of maturing funds can be predicted with a
high level of certainty. The Board sets limits on the minimum proportion of maturing funds
available to meet such calls and on the minimum level of inter-bank and other borrowing facilities
that should be in place to cover withdrawals at unexpected levels of demand.

The matching and controlled mismatching of the maturities and interest rates of assets and
liabilities is fundamental to the management of the Bank. It is unusual for banks to be completely
matched, as transacted business is often of uncertain term and of different types. An unmatched
position potentially enhances profitability, but also increases the risk of losses.

‘

bearing liabilities as they mature are important factors in assessing the liquidity of the Bank and its
exposure to changes in interest rates and exchange rates. :

The maturities of assets and liabilities and the ability to replace, at an acceptable cost, interest-

Liquidity requirements to support calls under guarantees and standby letters of credit are
considerably less than the amount of the commitment because the Bank does not generally expect
the third party to draw funds under the agreement. The total outstanding contractual amount of
‘commitments to extend credit does not necessarily represent future cash requirements, as many of
these commitments will expire or terminate without being funded:

The Bank is exposed to liquidity risk through its investments in Bahamian securities and its

portfolio of loans and advances to customers, where it may not be feasible’ to liquidate or exchange

such assets for consideration that approximates carrying value. The Bank monitors this exposure
_ by maintaining sufficient investments in marketable securities, setting limits to its investments

exposure and matching the maturity of its short-term loans with shorter-term customer deposits.

The loan portfolio principally comprises medium-term margin loans, which are financed by
shorter-term customer deposits. As such, the Bank is exposed to liquidity risk, which ik
continuously monitored by management. :

Fair values of financial instruments ‘

Financial instruments utilised by the Bank include recorded assets and liabilities, ‘as well as items
that principally involve off-balance sheet risk. These financial instruments are carried at fair value
or are relatively short term.in nature and accordingly, the estimated fair values are not significantly
different from the carrying value as reported in the consolidated balance sheet. | -

21. Subsequent Event
On 1 March 2006, the Board approved the transfer, subject to the approval of the ‘Central Bank of

ae Bahamas, of the $2 million in preference shares from the existing shareholders to the Parent
ompany. é i ; : ag

PRICEWATERHOUSE(COPERS @



PricewaterhouseCoopers
Providence House
East Hill Street
P.O. Box N-3910

‘ So OSEAN Nassau! The Bahamas
Website: www.pwe.com
E-mail: pwcbs@bs.pwe.com
Telephone (242) 302-5300
Facsimile (242) 302-5350

"

INDEPENDENT AUDITORS’ REPORT
To the Shareholders of Fidelity Merchant Bank & Trust Limited

We have audited the accompanying consolidated balance sheet of Fidelity Merchant Bank & Trust Limited
and its subsidiaries (the Bank) as of 31 December 2005. This consolidated balance sheet is ‘the
responsibility of the Bank's management. Our responsibility is to express an opinion on this consolidated
balance sheet based on our audit.

We conducted our audit in accordance with International Standards on Auditing. Those Standards require
that we plan and perform the audit to obtain reasonable assurance about whether the consolidated balance
sheet is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the consolidated balance sheet. An audit also includes assessing the accounting.
principles used and significant estimates made by management, as well as evaluating the overall
consolidated balance sheet presentation. We believe that our audit provides a reasonable basis for our
opinion. ;

In our opinion, the consolidated balance sheet presents fairly, in all material respects, the consolidated
financial position of the Bank as of 31 December 2005 in accordance with International Financial Reporting
Standards.

\

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Chartered Accountants
20 April 2006

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THE TRIBUNE BUSINESS

THURSDAY, MAY 11, 2006, PAGE’ 9B

6
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Mortgages, consumer and other loans













i ts
E Fidelity Bank & Trust International Limited ’ fs
fl (incorporated under the laws of the Commonwealth of The Bahamas) Loans and receivables are non-derivative financial assets with fixed or determinable ee
i | payments that are not quoted in an active market. They arise when the Bank provides es
a Consolidated Balance Sheet - money, goods or services directly to a debtor with no intention of trading the receivable. »
ei As of 31 December 2005 rs
i (Aichints expressed la Balk dollars) Loans are stated at outstanding principal plus accrued interest less provisions fot losses. ne
: 4 amian she san The mortgage loans are secured Principally by first mortgages on single-family residences e
4 : and provide for monthly repayments at variable interest rates over periods of up to twenty- ‘1
i ASSETS five years. Other loans are secured Principally by chattel mortgages and provide for i
{| monthly repayments over periods of up to ten years. a
iz Cash on hand and at banks (Note 4) 46,460,618 71,271,114 i
i Investment securities: As soon as the recovery of a loan or advance is identified as doubtful, a provision for loan ty
i -. government securities (Note 5) 20,983,300 18,823,800 losses is established to reduce the carrying value of the loan to its estimated realizable i
i -financial assets at fair value through profit or loss (Note 5) 15,734,763 9,093,245 amount. The provision for loan losses also covers losses where there is objective evidence El
i Mortgages, consumer and other loans (Notes 6,7) 163,383,779 144,221,677 a Pi eee eee a se eorenhidated belaagersbest oe
H Receivables and prepayments 10,199,708 7,319,918 ; . mee pean .
3 Property, plant and equipment (Note 8) 11,786,660 11,807,818 (g) —_—- Non-performing assets ee
' “Goodwill (Note 10) 1,454,195 1,454,195 oe
i ».c TOTAL ASSETS 270,003,023 263,991,767 Non-performing assets include all loans on which the status of overdue payments of j ¢ ;
E sso z a eet mca, alanine principal and interest are Such that management considers it prudent to classify them to ba i
H aap non-performing status. All mortgage loans and consumer loans on which principal and y Q
i eS . interest payments are overdue by in excess of ninety days are considered by management i
4 Customer deposits (Note 11) 210,327,970 208,727,948 to be non-performing. ve
a Mortgage-backed bonds (Note 12) bs 755,543 RG
§ | _ Loans from banks (Note 13) f 3,217,285 3,219,737 When a loan is classified as non-performing, all interest previously accrued in the current te |
i "Other liabilities and a ; 20,502,977 20,785,993 year, but not collected, is reversed against current year interest income and any interest |
5 Preference shares (Note 14) ; + heo.000 accrued in prior years is charged against the provision for loan losses. Notwithstanding te a
i ae these parameters, where a customer has re-established a pattern of prompt payment, \
+5 TOTAL LIABILITIES 234,048,232 234,489,221 management may agree to reschedule arrears of loan interest and principal. Thereafter, i
ct interest income will be recognised on an accrual basis. ; B
‘i EQUITY eB
i Capital and reserve attributable to the Bank's (h) Interest income and expense recognition " ‘
4) equity holders oe
hs Share capital - ordinary shares (Note 15) 10,000,000 10,000,000 Interest income and expense are recognised in the statement of operations for all 3 i:
yl Share capital - preference shares (Note 16) 12,000,000 12,000,000 instruments measured at amortised cost using the effective interest method. i
43 eat ions : is ty
gl é ee biden 2,283,974 2,369,742 The effective interest method is a method of calculating the amortised cost of a financial ie ee
2 tained Earnings : 5,959,645 143,374 asset or a financial liability and of allocating the interest income or interest expense over ey
if - 30,243,619 24,513,116 the relevant period. The effective interest rate is the rate that exactly discounts estimated is
: alvashasez 1159 yes ADT coe future cash payments or receipts through the expected life of the financial instrument or, a
.s»- Minority Interest (Note.18) —_ 5,711,172 4,989,430 when appropriate, a shorter period: to the net carrying amount of the financial asset or ts be
, : See GHG a 35,954,791 29,502,546 financial liability. When calculating the effective intérest rate, the Bank estimates cash iy
flows considering all contractual terms of the financial instrument (for example, re
TOTAL LIABILITIES AND EQUITY 270,003,023 263,991,767 prepayments options) but does not consider future credit losses. The calculation includes rf
‘ all fees and points paid or received between parties to the contract that are an integral part he
{ / : : of the effective interest rate, transaction costs and all other premiums or discounts. i
Approved on bebalf of the Board of Directors: : Interest income and expenses are recognised on an accrual basis. The recognition of re
< ; L ope Se y, é ' ; interest income on loans is suspended when loans are in non-accrual status. Such income re
f \ Yada: Z 7 jello &... fle ag igh! i ~ is excluded from interest income until received. he
Director “Director : te
i ‘ . : ; ‘ : pit & aig “ refit ; i @) — - Offsetting financial instruments iH
e “20. April 2006... ghgintio cy : ian ty
: ‘oBfate ¢ eotat lions Tae ot weenie To desecem! toate tall nse demgentiemteons sStotianid) 9 20 aay be Financial assets and liabilities are offset and the net amount reported in the balance sheet i
: conte desing! ty : yee ; eas ee i when there is a legally enforceable right to offset the recognised amounts and there ig an We
1. Incorporation and activity ; intention to settle on a net basis, or realise the asset and settle the liability simultaneously. ' :
7 : PS
Fidelity. Bank & Trust International Limited (the Bank) is incorporated under the laws of the G) Impairment of financial assets .
Commonwealth of The Bahamas under the Companies Act, 1992, as amended. ;

Pe AAR SHENG VIE AR NR SIA HI RENE G ES ERE ARRAS ATED EDITORS

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The Bank, through its subsidiaries in The Bahamas and the Cayman Islands, offers a full range of
investment, retail banking and insurance brokerage services. The Bank has a restricted banking
_licence in The Commonwealth of The Bahamas and its primary business is that of a holding and
management company for its subsidiaries.

The registered office of the Bank is situated at #51 Frederick Street, Nassau, The Bahamas. The
number of persons employed by the Bank and its subsidiaries as of 31 December 2005 was 190
(2004:170). : ;

Summary of significant accounting policies

The principal accounting policies adopted in the preparation of the consolidated balance sheet are
set out below. These policies have been consistently applied to all years presented, unless
otherwise stated. i

(a)



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(d)



(qd)

Basis of preparation

The Bank’s consolidated balance sheet has been prepared in accordance with International
Financial Reporting Standards (IFRS). The consolidated balance sheet has been prepared
under the historical cost convention, as modified by the revaluation of property, plant and
“equipment, financial assets and financial liabilities held. at fair value through profit or loss.

The preparation of the consolidated balance sheet in conformity with IFRS requires the use
of certain critical accounting estimates. It also requires management to exercise its

_ Judgement in the process of applying the Bank’s accounting policies. The areas involving a
_ higher degree of judgement or complexity, or areas where assumptions and estimates are

significant to the consolidated balance sheet, is disclosed in Note 24.

Consolidation

Subsidiaries are all entities over which the Bank has the power to govern the financial and

_ Operating policies generally accompanying a shareholding of more than one half of the

voting rights. The existence and effect of potential voting rights that are currently

exercisable or convertible are considered when assessing whether the Bank controls °

another entity. Subsidiaries are fully consolidated from the date on which control is
transferred to the Bank. They are de-consolidated from the date that control ceases.

Inter-company transactions, balances and unrealised gains on transactions between group
companies are eliminated. Unrealized losses are also eliminated unless the transaction
provides evidence of impairment of the asset transferred. Accounting polices of
subsidiaries have been changed where necessary to ensure consistency with the policies

- adopted by the Bank. j

» The consolidated balance sheet includes the accounts of the Bank and its subsidiary

companies, after the elimination of all significant inter-company transactions.
Segment reporting

A business segment is a group of assets and operations engaged in providing products or

__ services that are subject to risks and returns that are different from those of other business

segments. A geographical segment is engaged in providing products or services within a
particular economic environment that are subject to risks and returns that are different from
those of segments operating in other economic environments.

Foreign currency translation
i) Functional and presentation currency

Items included in the consolidated balance sheet of the Bank are measured using the
currency of the primary economic environment in which the entity operates (‘the

_. functional currency”). The consolidated: balance sheet is presented in Bahamian
dollars, which is the Bank’s functional. and presentation currency.

ii) | Transactions and balances

Foreign currency transactions are translated into the functional currency using the
exchange rates prevailing at the date of the transactions. Foreign exchange gains and
losses resulting from the settlement of such transactions and from the translation of
monetary assets and liabilities denominated in foreign currencies are recognized in
the consolidated statement of operations. Translation differences on monetary
financial assets measured at fair value are included in foreign exchange gains and
losses.

e
Financial assets

The Bank classifies its financial assets in the following categories: financial assets, at fair
value through profit or loss and loans and receivables. Management determines the
classification of its investment at initial recognition. :

i) , Financial assets at fair value through profit or loss

’ This category has two sub-categories: financial assets held for trading, and those,
designated at fair value through profit or loss at inception. A financial asset is
classified in this category if acquired. principally for the purpose of selling in the
short term or if so designated by management.

ii) Government securities

Government securities have been designated as financial assets at fair value through
profit and loss. Government securities are carried at amortized cost which
approximates fair value.

iii) Loans and receivables

Loans and receivables are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market. They arise when the Bank provides
money, goods or services directly to a debtor with no intention of trading the

receivable.

Purchases and sales of financial assets at fair value through profit or loss are
recognized on trade-date — the date on which the Bank commits to purchase or sell
the asset. Loans are recognized-when cash is advanced to the borrowers. Financial
assets are derecognized when the rights to receive cash flows from the financial
assets have expired or where the Bank has transferred substantially all risks and

rewards of ownership.

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83 Property, plant and equipment

Assets carried at amortized cost

The Bank assesses at each balance sheet date whether there is objective evidence that a

financial asset or group of financial assets is impaired. A financial asset or a group of
financial assets is impaired and impairment losses are incurred if, and only if, there is
objective evidence of impairment as a result of one or more events that occurred after the
initial recognition of the asset (a ‘loss event’) and that loss event (or events) has an impact
on the estimated future cash flows of the financial asset or group of financial assets that
can be reliably estimated.

If there is objective evidence that an impairment'loss on loans and receivables or held-to-
maturity investments carried at amortized cost has been incurred, the amount of the loss is
measured as the difference between the asset’s carrying amount and the present value of
estimated future cash flows (excluding future credit losses that have not been incurred)
discounted at the financials asset’s original effective interest rate. The carrying amount of
the asset is reduced through the use of an allowance account and the amount of the loss is
recognized in the statement of operations. If a loan or held-to-maturity investment has a
variable interest rate, the discount-rate for measuring any impairment loss is the current
effective interest rate determined under the contract. As a practical expedient, the Bank
may measure impairment on the basis of an instrument’s fair value using an observable

market price.

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Property, plant and equipment, other than freehold premises, are carried at historical cost
less accumulated depreciation and amortization. Historical cost includes expenditure that is
directly attributable to the acquisition of the items. Freehold premises are carried at market
value based upon periodic independent appraisals, which are commissioned at intervals not
exceeding three years. Revaluation increments are shown as “Revaluation surplus” within

equity.
Land and buildings comprise mainly of branches and offices.

Subsequent costs are included in the asset’s carrying amount or are recognised as a
separate asset, as appropriate, only, when it is probable that future economic benefits
associated with the item will flow to the Bank and the cost of the item can be measured
reliably. All other repairs and maintenance are charged to the statement of operations
during the financial period in which they are incurred.

Depreciation is calculated usmg the. straight-line method to allocate their cost.to their
residual values over their estimated useful lives as, follows:

Estimated

useful life
Freehold premises 30 - 50. years
Improvements to freehold premises 3 - 10 years
Improvements to leasehold premises 3 - 10 years
Furniture and fixtures 3 - 10 years
Computer and Office Equipment . 3.- 10 years
Computer Software 3-7 years
Motor vehicles 3-5 years

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at
each balance sheet date. :

Assets that are subject to amortization are reviewed for impairment whenever events or
changes in circumstances indicate that the carrying amount may not be recoverable. An
asset’S carrying amount is written down immediately to its recoverable amount if the
asset’s carrying amount is greater than its estimated recoverable amount. The recoverable
amount is the higher of the asset’s fair value less costs to sell and value in use. A

Leases
i) | The Bank is the lessee

The leases entered into by the Bank are primarily operating leases. The total
payments made under operating leases are charged to the statement of operations on
a straight-line basis over the period of the lease.

When an operating lease is terminated before the lease period has expired, any
payment required to be made to the lessor by way of penalty is recognised as an
expense in the period in which termination takes place. ;

ii) The Bank is the lessor

Lease income is recognised over the term of the lease using the net investment
method, which reflects a constant periodic rate of return.

Mortgage-backed bonds

Costs related to the issue of the mortgage-backed bonds are amortised on a straight-line
basis over the lives of the respective bond series. Assets pledged as collateral for these
bonds are included in loans. - ;

Investment banking income

Investment banking income comprises commissions, fees and trading gains and losses.
Trading gains and losses arising from the sale of investments are recognised on the trade
date. Fees and commissions earned on the purchase and sale of securities for third parties
are recognised on the settlement date.

Insurance brokerage commissions
Insurance brokerage commissions are recognised when the risk is underwritten.
Commitment fees

Non-refundable commitment fees, varying from 1% to 1 1/2% of the loan amount, are
recognised as income over the period of the commitment upon the borrower’s payment of
the fee.

Other income

Other ious comprises principally of bank and credit card fees are recognised at the time
the customers’ account is charged.



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Goodwill

Goodwill represents the excess of the cost of an acquisition over the fair value of the
Bank’s share of the net identifiable assets of the acquired subsidiary at the date of
acquisition, Goodwill is tested annually for impairment and carried at cost less

accumulated impairment losses. Impairment losses are allocated to the cash-generating
units resulting in the goodwill.

Long-term loan

Long-term loans are recognised initially at fair value, being their issue proceeds (fair value
of consideration received) net of transaction costs incurred. Long-term loans are
subsequently stated at amortised cost; any difference between proceeds net of transaction
costs and the redemption value is recognised in the statement of operations over the period
of the borrowings using the effective interest method.

Preference shares, which carry a mandatory coupon, or are redeemable on a specific date
or at the option of the shareholder, are classified as financial liabilities and are presented in
other borrowed funds. The dividends on these preference shares are recognised in the
Statement of operations as interest expense on an amortized cost basis using the effective
interest method.

Ordinary share capital
i) Share issue costs

Incremental costs directly attributable to the issue of new shares or options or to the
acquisition of a business are shown in equity as a deduction, from the proceeds.

ii) Dividends on ordinary shares

Dividends on ordinary shares are recognised in equity in the period in which they are
approved by the Bank’s Directors.

Dividends for the year that are declared after the balance sheet date are dealt with in
the subsequent events note. :

iii) Treasury shares
Where the Bank or other members of the consolidated Group purchases the Bank’s
equity share capital, the consideration paid is deducted from total equity as treasury
shares until they are cancelled.-Where such shares are subsequently sold or reissued,
any consideration received is included in equity.

Preference share capital

Preference shares on which dividends are payable at the discretion of the Directors, have

no specific date for redemption and on which the shareholder has no option for

redemption, are classified as share capital and are presented in share capital.

i Share issue costs

Incremental costs directly attributable to the issue of new shares or options or to the
acquisition of a business are shown in equity as.a deduction, from the proceeds.

ii) Dividends on preference shares

Dividends on preference shares are recognised in equity in the period in which they
are approved by the Bank’s Directors. :

Dividends for the year that are declared after the balance sheet date are dealt with in
the subsequent events noe

Fiduciary activities

The Bank commonly acts as trustees and in other fiduciary capacities that result in the
holding or placing of assets on behalf of individuals, trusts, retirement benefit plans and
other institutions. These assets and income arising thereon are excluded from the
consolidated balance sheet, as they are not assets of the Bank.

Cash and cash equivalents

For the purpose of the consolidated. statement of cash flows, cash and cash equivalents
comprise baldnces with less than: three months’ maturity from ‘the date of acquisition,
including cash and restricted balances with The Central Bank, loans and advances to
banks, amounts due from other banks and short-term government securities.

Provisions



L AMNS AS

” Provisions: for restructuring costs and legal claims are recognised when the Bank has a

present legal or constructive obligation as a result of past events, it is more likely than not
that an outflow of resources will be required to settle the obligation and the amount has
been reliably estimated.

Employee benefits

_Pension obligations :

The Bank and its subsidiaries participate in a defined benefit and defined contribution
pension plans administered by trustees who include executives of the Bank.

The defined benefit plan is funded through payments to a trustee administered fund
determined by periodic actuarial calculations. A defined benefit plan is a pension plan that
defines an amount of pension benefit that an employee will receive on retirement, usually
dependent on one or more factors such’as age, years of service and compensation. Pied A
defined contribution plan is a pension plan under which the Bank pays fixed contributions’
into a separate entity. The Bank has no legal or constructive obligations to pay further
contributions if the fund does not hold sufficient assets to pay all employees the benefits
relating to employee service in the current and prior periods. ;

The liability recognised in the consolidated balance sheet in respect of defined benefit
pension plans is the present value of the defined benefit obligation at the balance sheet date
less the fair value of plan assets, together with adjustments for unrecognised actuarial
gains or losses and past service costs. The defined benefit obligation is calculated annually
by independent actuaries using the projected unit credit method. The present value of the
defined benefit obligation is determined by discounting the estimated future cash outflows
using interest rates of high-quality corporate bonds that are denominated in the currency in
which the benefits will be paid, and that have terms to maturity approximating to the terms

of the related pension liability.

Actuarial gains and losses arising from experience adjustments and changes in actuarial
assumptions are charged or credited to income over the employees’ expected average
remaining working lives. Past-service costs are recognised immediately in income, unless
the changes to the pension plan are conditional on the employees remaining in service for a
specified period of time (the vesting period). In this case, the past-service costs are
amortised on a straight-line basis over the vesting period.

For defined contribution plans, the Bank pays contributions to publicly or privately
administered pension plans on a mandatory, contractual or voluntary basis. The Bank has
no further payment obligations once the contributions have been paid. The contributions
are recognised as employee benefit expense when they are due. Prepaid contributions are
tecognised as an asset to the extent that a cash refund or a reduction in the future payments

is available.

Comparatives

Where necessary, comparative figures have. been adjusted to conform with changes in
presentation in the current year. The principal change relates to the preference shares
issued in 2004 in the amount of $12,000,000 which have been reclassified from liabilities
to share capital in accordance with the International Accounting Standard 32. Dividends
relating to these shares. have also:been reclassified from the consolidated‘ statement of
operations to the consolidated statement of changes in equity.

3. Subsidiary companies

a The Bank, directly or indirectly, has interest in the following entities:









a Country of %
i Incorporation Holding
as Fidelity Merchant Bank & Trust Limited
i a (FMBT) and its wholly owned subsidiaries: Bahamas 100%
a ;
i a Fidelity Capital Markets Limited (FCML) Bahamas 100%
fa Fidelity Share Registrars & Transfer Agents Limited
A x (FSRTAL); and Bahamas 100%
a Fidélity Pension & Investment Services Limited (FPISL) Bahamas 100%
ia le
a Ine Fidelity Bank (Bahamas) Limited (FBB) Bahamas 68%
Fe c West Bay Development Company Limited (West Bay) Bahamas 79%
= iin
i ta Fidelity Bank (Cayman) Limited (FBC) :
we and its wholly owned subsidiaries: ; Cayman 100%
ie ‘ Fidelity Insurance (Cayman) Limited (FIC); and Cayman 100%
eS. Fidelity Broking Company Limited (FBCT) Turks & Caicos 100%
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Mortgages
Consumer
~ and other



Investment securities

Cash and cash equivalents

Cash on hand and at banks
Mandatory reserve deposits with The Central Bank

Cash and cash equivalents are comprised of the following:

2005 2004

$ $
41,087,644 66,162,364
5,372,974 5,108,750
46,460,618 71,271,114

Mandatory reserve deposits are not available for use in the Bank’s day to day operations. Cash on
hand and balances with central banks and mandatory i

reserve deposits are. non-interest-bearing.
Other money-market placements are floating-rate assets.
Ih the prior year, cash held at banks by FBC; in the amount of approximately $27.6 million, related
to insurance claims expected to be paid out shortly after year end.

Investment securities comprise the following Bahamas Government Registered Securities:



. As of 31 December 2005, prime was 5.50%.

7 September 2025

Government securities
Interest
Rate Due Date
Prime + 0.125% 11 May 2005
Prime + 0.875% .2 December 2005 ~
Prime + 0.156% 11 May 2006
Prime + 0.938% 27 August 2006
Prime + 0.6875% 7 May 2007
Prime + 0.75% 7 May 2008
Prime + .50% 20 September 2009
. Prime + 0.3125% 21, October 2009
Prime + 1.25% 25 April 2010
Prime + 0.9375% 5 July 2011
Prime + 0.688% 24 August 2011
Prime + 0.675% 24 August.2012
Prime + .281% 25 October 2013
Primé + 1.00% 24 March 2014
Prime + .50% 8 April 2014
Prime + 0.625% 22 May 2014
Prime + 0.9375% 21 July 2014
Prime + 1.125% 15 October 2015
Prime + 0.1875% 4 December 2015
Prime + 593% _ 15 July 2016
Prime + 1.25% 15 October 2017
Prime +°0.25% 24 March 2019 “=>
Prime + 0.469% 21 July 2019
Prime + .500% 530 July 2019-2:
Prime + .15625% 22 October 2019
Prime + 468% _:25 October 2019
Balance carried forward
Government securities
Interest
Rate Due Date
Balance brought forward
Prime + 0.469% 24 November 2019
Prime + 0.5% 12 December 2019
Prime + 0.531% 26 April 2020
Prirne + 531% 30 July 2020
Prime + 0.50% 21 September 2020 -
Prime + 0.5% 25 October 2020
Prime + .21875% 29 July 2021
Prime + 0.563% 30 July 2021
Prime + 0.375% 4 December 2021
Prime + 0.5625% 12 December 2021
Prime + .25% 29 July 2022:
Prime + 0.4062% 6 September 2022 -
Prime + .25% 22 October 2022
Prime + 0.4062% 4 December 2022
Prime + 0.344% 9 February 2023
Prime + 0.375% 8 April 2023
Prime + 0.375% 21 July 2023
Prime + .28125% 29 July 2023
Prime + .28125% 22 October 2023
Prime + 0.375% 9 February 2024
Prime + .250% 28 June 2024
Prime + 0.3125% 29 July 2024
Prime + 0.313% 22 October 2024
Prime + .281% 28 June 2025
Prime + .281%

Nominal



Financial assets at fair value through profit or loss

Munual Funds:

Fidelity Bahamas Growth & Income Fund
Fidelity Bahamas Prime Income Fund

Listed securities

Fixed Income securities

Over-the-counter securities

Not quoted securities

2005 2004
Yalue Yalue Value
$ $s $s
772,700 7 772,700
2,000 2 2,000
758,800 758,800 758,800
1,000,000 1,000,000 1,000,000
100,000 100,000 _ 100,000
- 100;000 100,000. ° 100,000°
190,000 190,000 aes
"150,000 150,000 © 150,000
397,000 397,000 397,000
10,000 10,000 10,000: :
4,878,900 4,878,900 4,878:900:
2,221,100 °°. 2,221,100 2,221,100
100,000 100,000 2
129,000 129,000 129,000
200,000 200,000 :
6,500. - 6,500 6,500
1,000 1,000 1,000
- 75,000 75,000 75,000
90,000 90,000 90,000 ~
200,000 200,000 a ofibe
50,000 50,000 50,000
“*110,000°°~ 110,000 110,000
_ 138,700 138,700 138,700
‘100,000 100,000 :
29,700 29,700 -
100,000 100,000 :
11,135,700 10,990,700
Nominal 2005 2004
Value Value Value
$ $ $
11,135,700 10,990,700
500,000 500,000 500,000
469,700 469,700 469,700
334,500 334,500 334,500
100,000 100,000 -
407,400 407,400 407,400
155,000 155,000 55,000
185,200 185,200 -
1,550,000 1,550,000 1,550,000
100,000 100,000 100,000
12,000 12,000 12,000
5,200 5,200 ee
10,000 10,000 10,000
34,000 34,000 -
100,000 100,000 . 100,000
1,456,800 1,456,800 1,456,800
908,900 908,900 898,500
878,800 878,800 878,800
10,400 10,400 :
23,800 23,800 fans s
505,700 505,700 514,700
477,400 477,400 eee
390,000 390,000 394,500
151,200 151,200 151,200
972,500 972,500 -
109,100 109,100 a
20,983,300 18,823,800. -
2005 2004
Market Market
$ 2S
9,913,322 -
254,622 -
3,147,140 7,670,636
2,295,713 1,105,916
; 6,270 135,385
117,696 181,308
15,734,763 9,093,245



Included in investment banking fees and commissions in the consolidated statement of operations
are realized gains/(losses)-on sale of financial assets at fair value through profit or loss of $589,711
(2004: ($17,934)) and net change in unrealized appreciation in financial assets at fair value throug)

profit or loss of $937,855 (2004: $776,292).

Mortgages, consumer and other loans

‘ Period to Maturity ; Reet

Under
one year

$

7,919,032

13,818,654

Within two Within six Over ten
tofiye years totenyears'.. years
$ $ $
8,415,659 26,294,324 94,219,397
11,869,668 3,412,010 1,008,311
20,285,327 29,706,334 95,227,708

Provision for loan losses

Balance at 1 January

Provision for the year 4 i

Write-off during year against fully provided accounts
' Wripten back during the year :

Recoveries

Balance at 31 December

Non-performing loans

The movements in provision for loan losses during the year are as follows:

2005
$
136,848,412

30,108,643

166,957,055

* 4(3,573,276)-

163,383,779

2005
$

3,089,024
$62,892
» (90,054)
(344,880)
356,294
3,573,276

Average interest rates on mortgages, consumer and other loans range from 7.5% to 16%.

Total non-performing loans at 31 December 2005 are $6,232,953 (2004: $6,884,169).

Total
2004
S ,

122,792,525
24,518,176
147,310,701

(3,089,024)

2004

$
2,949,405
744,373
(744,172)

139,418
3,089,024

Included in the balance of $3,573,276 (2004: $3,089,024) is a specific loan loss reserve of ~
$1,434,242 (2004: $1,122,221). The provision for loan losses represents 2.14% (2004: 2.10%) of
the total loan portfolio and 57.33% (2004: 44.87%) of total non-performing loans.

At 31 December 2005, $Nil (2004: $1,578,893) of the above mortgage loans were pledged as
collateral in connection with the FBB’s mortgage-backed bonds programme (see Note 12).

At 31 December 2005, the Bank had extended certain mortgage loans guaranteed by the
Government of the Cayman Islands totalling $268,876 (2004: $523,428) for which payments were
past due in excess of 90 days. Management does not currently consider these loans as non-
performing.





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ad ai

< 8. Property, plant and equipment

x Computer

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% Land Furniture Motor & Office Leasehold

¢ & Buildings Fixtures Vehicles © Equipment Improvements Total

f

4, Year ended 31 December 2004. _- —- -..— ---- ~~ ee :

4

ix Opening value 9,038,542 1,053,203 24,859 909,006 1,248,258 12,273,868
se Revaluation > - - i , -

" Additions = 280,593 114,552 332,540 162,394 890,079
ie Disposals (net) ees (8,478) (3,273) (2,500) - (14,251)
if Depreciation charge __(269,907) __(247,574) __(67,652) __ (522,945) (233,800) (1,341,878)
Closing value 8,768,635. 1,077,744 68,486 716,101 1,176,852 11,807,818

4,

{ At 31 December 2004
; : Cost or Valuation 10,337,060 3,441,606 330,798 7,981,895 3,917,346 26,008,705
re Accumulated

: depreciation (1,568,425) (2,363,862) (262,312) _ (7,265,794) (2,740,494) (14,200,887)

‘ Net book value 8,768,635 1,077,744 68,486 716,101 1,176,852 11,807,818

4 Computer

p Software

k Land Furniture Motor & Office Leasehold

4 & Buildings & Fixtures Vehicles Equipment Improvements — Total

{ Year ended 31 December 2005

; Opening value 8,768,635 . 1,077,744 68,486 716,101 1,176,852 11,807,818

‘ Revaluation - - - - : e ‘

; Additions - 263,528 17,000 705,506 77,915 1,063,949
Disposals (net) - (6,338) - * — (5,862) - (12,200)
Depreciation charge (269,907) (340,712) (30,462) (231,079) (200,747) (1,072,907) _
Net book value. __ 3,498,728 994,222 55,024 1,184,666 "1,054,020 11,786,660
At 31 December 2005
Cost or Valuation 10,337,060. 3,698,796. 347,798 8,681,539 3,995,261 27,060,454
Accumulated : eae :
depreciation (1,838,332) oe (2,704,574) (292,774) (7,496,873) Bas (2,941,241) (15,273,794)





Net book value.

“8,498,728 ~~ 994,222" 55,024. -15184,666 "1,054,020 11,786,660

Land and buildings include revaluation increments totalling $2;283,974 (2004:$2,369,742).

. Geographic information

Principally all of the Bank’s Operations are carried out in the Bahamas and the Cayman Islands.

Net. Income/(Loss) ‘a Assets Employed

(o00'sy Ns (000’s) Ws 6053) (000’s).
Bahamas - 3,076 264 =~ :*:179,812 162,637
Cayman oe 4,490 2,220 90,191 101,355
Total 7,566 2,484 270,003. re

10.

il.

‘12.

13.

14,

Goodwill .

” Goodwill represents the premium paid, over and above.total net asset value, by the Bank on the

purchase of 100% of the outstanding ordinary shares of both FBB and FBC.

Goodwill has been calculated as follows:

2005 2004
Balance 1 January 1,454,195 1,454,195
Amortisation - e
Balance at 31 December | 1,454,195 1,454,195
Customer deposits: cata
The maturities of customer deposits are as follows:
Within} year Within 5 years 2005 2004
. $ $ $ $
Demand deposits 80,575,803 80,575,803 55,588,529
Savings certificates 83,325,291. 44,848,906 128,174,197 152,554,388
Accrued interest E ’ 1,577,970 585,031

Balance.as of 31 December 163,901,094 44,848,906 210,327,970 208,727,948.

Average interest rates on customer deposits range from 2.5% to 6%.
Mortgage-backed bonds _ \

Mortgage-backed bonds are summarised as follows:

is Maturity Date Amount issued and outstanding

2005 2004
; $ $
Series G-3-A, Authorised d , ;
$4,000,000 Prime - .25% 2005 ae 155,040
Series G-3-C, Authorised : ;
$4;000;000 Prime 2005 : - 600,000. ..
Accrued interest i 393
Total... 3 7 755,543

On J, December 1998, the Bank transferred approximately 250 of its.first-legal mortgages having an
aggregate unpaid principal balance of approximately $20.8 million to a trust in exchange for
mortgage-backéd bonds representing. an un-divided interest in'the trust. Thése bonds, which were
redeemable at the option of the Bank, were issued to the public at par and had maturity dates that
extend to 1 December 2005. The Bank was required to maintain the value of the trust at a value
equal to or greater than the outstanding principal amount of the bonds. The proceeds from the
issuance of the bonds were used by the Bank to make new loans to its customers and for liquidity
purposes. The bonds matured on 1 December 2005 and were paid off in full. These bonds were
secured by certain mortgage loans which had an ageregate unpaid principal amount of $1,578,893
in 2004. An independent trustee administered .the mortgage-backed bond portfolio.

Loans from banks

2005 2004

$ $
Balance due on short-term loan 2,717,285 2,519,737
Balance due on long-term loan : 500,000 700,000
Total 3977 285 3,219,737

The short-term ‘oan represents the balance drawn down against a $3 million line of credit
advanced to the Bank from a ccmmercial bank. The loan bears interest at B$ prime + 1.5%, is
secured by a charge over 6,600,000 (2004: 6,600,000) ordinary shares of FBB, and is repayable on
demand.

The long-term loan represents the balance due under a mortgage loan, in the initial amount of
US$2,000,000 that was advanced to West Bay in April 1998 to facilitate the purchase of a Nassau-
based property. The loan is secured by a first mortgage over the property owned by West Bay,
bears interest at 3 month LIBOR + 1 1/2% and is repayable over a ten year period in 40 equal
quarterly payments of $50,000, plus any interest accrued at the date of each payment.

Preference Shares

1005 “9004

$ '$
Issued & fully paid -
Class C preference shares of $0.10 each at a
premium of $0.90 per share - 1,000,000

On 4 May 1995, the Bank issued 5,000,000 Class C_ preference shares of par value B$0.10 each
with a premium of $0.90 each. The preference shares ‘vere cumulative, redeemable and non-
voting. The Class C preference shares were all owned by third parties and dividends were payable
semi-annually in arrears at the rate of 0.75% above the Bahamian prime rate. The Class C
preference shares, including a proportional share of the related share premium, were redeemable in
five equal annual instalments. The first, second, third and fourth redemptions of B$1,000,000 each
were paid on 4 May 2001, 4 May 2002, 4 May 2003 and 4 May 2004, respectively and the last
redemption of B$1,000,000 was completed on 4 May 2005.



15.

16.

17.

18.

19.

20.

THURSDAY, MAY 11, 2006, PAGE 1B"

Dividends paid on the Class C preference shares and the FBB preference share for the period
amounted to $21,863 (2004: $503,318).

2,000,000 Class B, cumulative, redeemable voting preference shares of par value $0.10 each fav:
been authorised but no Class B preference shares have been issued. - :

Share capital — ordinary shies

2005 2004

, 5 $
Share capital - ordinary shares
Authorised
5,000,000 ordinary shares of $0.10 each a 500,000 500,000
—_—— ee

Issued and fully paid | .
3,432,099 ordinary shares of $0.10 each 343,210 343,210
Share premium
1,000,000 ordinary shares at a premium

of $4.90 per share 4,900,000 — 4,900,000

2,432,099 ordinary shares at an average

premium of $1.96 per share 4,756,790 4,756,790

9,656,790

9,656,790
Total share capital - ordinary shares __ 10,000,000 ___10,000,000
Share capital - preference shares wee
2005 - 2004
. : a } $
Issued & fully paid e
FMBT . :
2,000,000 cumulative redeemable preference shares ,
of $1.00 each 2,000,000 2,000,000
FBB
10,000,000 ‘cumulative redeemable preference shares a . j
of $1.00 each : 10,000,000 10,000,000
Total share capital - preference shares 12,000,000 12,000,000

New FMBT cumulative, redeemable, and non-voting preference. shares totalling $2,000,000 were
issued on 1 December 2004. The new preference shares are redeemable at the option of FMBT,
have no shareholder option for redemption and redemption by FMBT is subject to the approval of
The Central Bank of The Bahamas. Dividends are payable quarterly in arrears, at the: sole
discretion of the Directors of FMBT, at the annual rate of the greater: of 0.75% above Prime and
7.50%. The FMBT preference sharés rank ahead of the ordinary shares in the event of liquidation.

New FBB cumulative, redeemable, and non-voting preference shares totalling $10,000,000 were
issued on 12 October 2004. The new preference shares are redeemable at the option of FBB, have

‘no shareholder option for redemption and redemption by FBB is subject to the approval of The

Central Bank of The Bahamas. Dividends are payable quarterly in arrears, at the sole discretion of
the Directors of FBB, at the annual rate of the greater of 0.75% above Prime and 7.50%. The FBB
preference shares rank ahead of the ordinary shares in the event of liquidation.

Related party transactions

Loans and deposit accounts with directors and officers amounted to $1,232,738 (2004: $1,133,112)
and $873,076 (2004: $1,148,536), respectively., : ae
Key management compensation for the year was $1,234,994 (2004:$1,179,985). a

Director's compensation for the year was $169,500 (2004: $48,363). :

Included in receivables and prepayments is a balance of $501,286 relating toan advance made toa

shareholder of the Bank against the shares held in the Bank by-the shareholder. The full amount of

$501,286 has been guaranteed by a Director of FBC. ; ,

Minority interest

Minority interest is calculated based on its 32% shareholding in FBB.and is comprised as follows:

2005. “2004
me) 2 $
Balance at 1 January ae 4,989,430 «> 4,849,320
Minority’s share of FBB’s net income §__ 935,337... 349,791
Minority's share of revaluation surplus : rae 3,914 -
- $,924,767 5,203,025
Less: , : ;
Minority’s share of amortisation of goodwill ;
relating to FBB i eat ee
Dividends paid to minority shareholders (213,595) ___. 213,595)
Balance at 31 December STAT 4,989,430

Commitments
Loan commitments

“At 31 December 2005, commitments for mortgage and other loans amounted to $8,355,501 (2004;
$6,478,673). ae

Lines of credits

FBC has arranged a line of credit of $2,400,000 with another financial institution operating in the

Cayman Islands. This facility is secured by a charge over certain of the Bank's land and buildings

and-was unused as of 31 December 2005. This facility is renewable annually on April 30.

FBB has pledged $3,000,000 (2004: $3,000,000) of Bahamas Government registered stock to
secure the overdraft facility with another Bahamianicommercial bank. The facility bears interest at
0.5% above Prime up to $1 million‘and 1.25% above Prime for amounts in excess of $1 million
with a stand by fee of 0.25% on any unused portion of the facility.

‘Unused lines of credit with commercial. banks amounted to $5,682,715 at 31 December 2005

(2004: $5,880,263).

Operating lease commitments

The future minimum rental payments required under operating leases that have initial or remaining
non-cancellable lease terms in excess of one year as of 31 December 2005 are as:follows:

<
2006 823,567.
2007 : $89,002
2008 544,242
2009 $35,026
2010 ____ 127,689
Total 2,619,526

Contingent Liabilities

Love Estates: In 1988, FBB loaned the developer of Love Estates certain sums of money and also
joined in as surety for various performance bonds aggregating $3,328,043 in favor of the Ministry
of Public Works. The loans and the bonds were secured by a first legal mortgage over the unsold
lots in the subdivision. The works under the bonds were to have been completed within 36
months. The developer defaulted under the mortgage with FBB. Through the years, FBB has been
" jn discussion with the Ministry of Public Works’and various prospective purchasers. In 2001, the
Ministry obtained a judgement against the developer and FBB for the amount of the bonds.

FBB is being sued for specific performance and damages:in connection with’a sale agreement dated
24 September 1997 in respect of the Love Estates property. As all conditions of the sale agreement
have still not been met, and in order to resolve this long outstanding matter, FBB entered into a
Deed of Settlement (“Deed”) with Rolling Hills Development Corporation Limited (“Rolling
Hills”) in April'2005. Under the Deed, Rolling Hills will assume liability for the installation of the
infrastructure in Phase One and Phase Two of the Love Estates Subdivision and enter into

performance bonds, in a form agreed by the Ministry of Works, to guarantee Rolling Hills .

installation of the infrastructure and enable FBB to have the performance ‘bonds entered into
between FBB and the Ministry of Works, dated 30 May 1988, cancelled.

In exchange for Rolling Hills entering into the above noted performance bonds, FBB agreed to pay *

settlement costs totaling $350,000 to Rolling Hills which were expensed in 2004. Should Rolling
Hills not enter into the performance bonds, in a form agreed by the Ministry of Works, the Deed
will become void as if it never existed. FBB and Rolling Hills:are still in the process of obtaining
all documents required under the Deed of Settlement. It is’ anticipated that. all outstanding
documentation issues will be resolved in 2006 and that the associated sale of the Love Estates
property will be completed without any further loss to FBB. kes















PAGE 12B, THURSDAY, MAY 11, 2006

21.

22.

23.

Other: The Bank is also involved in various other legal proceedings covering a range of matters
that arise in the ordinary course of business activities. Management is of the view that no
significant loss will arise as a result of these proceedings.

Pension plan

The Bank and its subsidiaries participate in a defined benefit and defined contribution pension
plans (the “Plans”) administered by trustees who include executives of the Bank.

Effective 15 October 2005, FBB terminated its participation in the British American Bank
Employees’ Pension Plan (“BAB Plan”), a defined benefit pension plan in which the employees
previously participated, and adopted the Fidelity Merchant Bank & Trust Limited Employees
Pension Plan (the “Plan”). Under the Plans, all employees contribute 5% of gross salary and the
Bank matches employee contributions up to 5% of the gross salary. Employees of the Bank
participate in a separately administered defined benefit plan (the “FBT plan”).

*

On termination of the BAB Plan, the amount payable to each participant in the BAB Plan was the
greater of the actuarial equivalent of the participant’s accrued benefit and the participant's
contributions accumulated with interest. All BAB Plan participants were given the option of
receiving the full amount payable to them in cash or having such amount transferred to the Plan. As
at 15 October 2005, FBB’s independent actuary determined that the net BAB Plan assets,
amounting to $2,942,883, exceeded the BAB Plan liabilities of $1,619,759 by $1,323,124. This net
amount of $1,323,124 has been credited to income and is included in the statement of operations.
As at 31 December 2005, an amount of $495,816 remained receivable from the BAB Plan.

The Bank’s pension expense for the year ended 31 December 2005 for defined contribution and
benefit plans was $436,919 (2004: $286,289). .

The amounts recognized in the consolidated balance sheet for the defined benefit plans were
determined as follows: ;

2005 2004

$ $

Present value of funded obligations 1,303,592 3,281,830
Fair value of plan assets __(1,286,501) _ (3,541,789
Deficit/(Excess) of plan assets over benefit obligation 17,091 (259,959)
Unrecognised actuarial (losses) (139,481) (83,374)
(Asset) recognised in the consolidated balance sheet (122,390) ___ (343,333)

The latest actuarial valuations of the FBT plan were carried out as at 31 December 2005. The
liability for defined benefit obligations comprises:

movements in the net (asset)/liability recognised in the consolidated balance sheet are as follows:

2005 2004

$ $

Net (asset) at beginning of the year (29,946) (339,657)
Expense recognised in the consolidated statement of operations 54,901 115,848
Contributions received (147,345) 119,524
(Asset) recognised in the consolidated balance sheet (122,390) (343,333)
74,026 328,426

The actual return on Plan assets is as follows:

The expense recognised in the consolidated statement of operations is included in general and
administrative expenses and comprises: - ;

2005 2004
$ $
Current service costs 50,468 129,265
Interest on obligation 74,315 187,148
Expected return on plan assets (74,026) (200,565)

Net actuarial loss recognized during the year 4,144 . :

Expense recognised in the consolidated statement of operations 54,901 115,848

The principal actuarial assumptions (expressed as weighted averages) at the consolidated balance
sheet date were: 4

2005 2004
Discount rate at 31 December 6.50% 6.50%
Expected return on Plan assets at 31 December 6.50% 6.50%
Future salaries increases 5.50% 5.50%
Proportion of employees opting for early retirement 4.00% 4.00%
Earnings per share
‘ 2005 2004
Net income to Equity Holders ofthe Bank - $ 6,630,503 $ 2,134,249

Less: Dividends on preference shares
classified as equity

$ (900,000) $ (157,992)

Net income available to ordinary shareholders 5,730,503 1,976,257
Divided by: Weighted average of ordinary

shares outstanding 3,432,099 3,432,099
Earnings per share $ 1.67 : $ 0.58

Preference share dividends”

The Board of Directors, of each of FBB and FMBT, declared quarterly dividends of $0.1875
(7.5%) per. share in respect of each quarter ended 31. March 2005, 30 June 2005, 30 September
2005 and 31 December 2005. These dividends were paid on 31 March 2005, 30 June 2005 and 30
September 2005. The 31 December 2005 dividend was paid subsequent to the year end.

2005 ; 2004

: . $ é $

Dividends payable at the beginning of year -157,992 -
Dividends declared during the year 900,000 157,992
Dividends paid during the year (832,992) :

Dividends payable at the end of the year | 225,000 157,992

24. Critical accounting estimates and judgements in applying accounting policies

25.

The Bank makes estimates and assumptions that affect the reported amounts of assets and

liabilities within the next financial year. Estimates and judgements are continually evaluated and .

are based on historical experience and other factors, including expectations of future events that are
believed to be reasonable under the circumstances. :

Impairment losses on loans and advances

The Bank reviews its loan portfolios to assess. impairment. at least on a quarterly basis. In
determining whether an impairment loss should be recorded in the statement of operations, the
Bank makes judgements as to whether there is any observable data indicating that there is a
measurable decrease in the estimated future cash flows from a portfolio of loans before the
decrease can be identified with an individual loan in that portfolio.

This evidence may include observable data indicating that there has been an adverse change in the
payment status of borrowers in a group, or national or local economic conditions that correlate
with defaults on assets in the group. Management uses estimates based on historical loss
experience for assets with credit risk characteristics and objective evidence of impairment similar
to those in the portfolio when scheduling its future cash flows. The methodology and assumptions
used for estimating both the amount and timing of future cash flows are reviewed regularly to
reduce any differences between loss estimates and actual loss experience.

Financial risk management
Strategy in using financial instruments

By their nature, the Bank’s activities are principally related to the use of financial instruments. The
Bank accepts deposits from customers at both fixed and floating rates, and for various periods, and
seeks to earn above-average interest margins by investing these funds in high-quality assets. The
Bank seeks to increase these margins by consolidating short-term funds and lending for longer
periods at higher rates, while maintaining sufficient liquidity to meet all claims that might fall due.

The Bank also seeks to raise its interest margins by obtaining above-average margins, net of
allowances, through lending to commercial and retail borrowe.s with a range of credit standing.
Such exposures involve not just on-balance sheet loans and advances; the Bank also enters into
guarantees and other commitments such as letters of credit and performance, and other bonds.

Credit risk

The Bank takes on exposure to credit risk, which is the risk that a counterparty will be unable to
pay amounts in full when due. Impairment provisions are provided for losses that have been
incurred at the balance sheet date. Significant changes in the economy, or in the health of a
particular industry segment that represents a concentration in the Bank’s portfolio, could result in
losses that are different from those provided for at the balance sheet date. Management therefore
carefully manages its exposure to credit risk.

The Bank structures the levels of credit risk it undertakes by placing limits on the amount of risk

. accepted in relation to one borrower, or groups of borrowers, and to geographical and industry

segments. Such risks are monitored on a revolving basis and subject to an annual or more frequent
review. Limits on the level of credit risk by product, industry sector and by country are approved
by the Board of Directors.

The exposure to any one borrower including banks and brokers is further restricted by sub-limits
covering on- and off-balance sheet exposures, and daily delivery risk limits in relation to trading
items such as forward foreign exchange contracts. Actual exposures against limits are monitored
daily. . :

b



THE TRIBUNE BUSINESS

Exposure to credit risk is managed through regular analysis of the ability of borrowers and
potential borrowers to meet interest and capital repayment obligations and by changing these
lending limits where appropriate. Exposure to credit risk is also managed in part by obtaining
collateral and corporate and personal guarantees.

The Bank’s deposits and investments are placed with high credit quality financial institutions and
corporations. Mortgage, consumer and other loans are presented net of provisions for loan losses.
Whilst the majority of loans are secured by first mortgages upon family residences or by chattel

mortgages, overdrafts advanced in the normal course of business are generally unsecured. -

Credit-related commitments -

The primary purpose of these instruments is to ensure that funds are available to a customer as
Tequired. Guarantees — which represent irrevogable assurances that the Bank will make payments in

the event that a customer cannot meet its obligations to third parties — carry the same credit risk as
loans. : 4

Commitments to extend credit represent unused portions of authorisations to extend credit in the
form of loans, guarantees or letters of credit. With respect to credit risk on commitments to extend
credit, the Bank is potentially exposed to loss in‘an amount equal to the total unused commitments,
However, the likely amount of loss is less than the total unused commitments, as most
commitments to extend credit are contingent upon customers maintaining specific credit standards.
The Bank monitors the term to maturity of credit commitments because longer-term commitments
generally have a greater degree of credit risk than shorter-term commitments. ne tats

Geographical concentrations of assets and liabilities

Accordingly, the Bank has a concentration of risk in respect of geographical area, as both customer
and securitised assets are primarily based in The Bahamas and the Cayman Islands.

Cash flow and fair value interest rate risk

Cash flow interest rate risk is the risk that the future cash flows of a financial instrument will
fluctuate because of changes in market interest rates. Fair value interest rate risk is the risk that the
value of a financial instrument will fluctuate because of changes in market interest rates. The Bank
takes on exposure to the effects of fluctuations in the prevailing levels of market interest rates on
both its fair value and cash flow risks. Interest margins may increase as a result of such changes but
may reduce or create losses in the event that unexpected movements arise. The Board sets limits on
the level pf mismatch of interest rate re-pricing that may be undertaken, which is monitored daily.

. The Bank employs effective techniques and procedures to monitor and control its exposure to

26.

_ PRICEWATERHOUSE(COPERS

interest rate risk. Mortgage, consumer, and other loans generally have variable rates, linked to the

relevant dollar prime rate. Exposure to interest rate risk, which is mainly due to fixed rates both its
term deposits with banks and savings certificates sold to customers, is minimised by the short-term
maturities of the majority of these deposits. .

Liquidity risk

The Bank-is exposed to daily calls on its available cash resources from overnight deposits, current
accounts, maturing deposits, loan draw-downs and guarantees, and from margin and other calls on
cash-settled derivatives. The Bank does not maintain cash resources to meet all of these needs, as _
experience shows that a minimum level of reinvestment of maturing funds can be predicted with a
high level of certainty. The Board sets limits on the minimum proportion of maturing funds
available to meet such calls and on the minimum level of inter-bank and other borrowing facilities
that should be in place to cover withdrawals at unexpected levels of demand.

The matching and controlled mismatching of the maturities and interest rates of assets and
liabilities is fundamental to the management of the Bank. It is unusual for banks to be completely
matched, as. transacted business is often of uncertain term and of different types. An unmatched .
position potentially enhances profitability, but also increases the risk of losses. ;

The maturities of assets and liabilities and the ability to replace, at ‘an acceptable cost, interest-
bearing liabilities as they mature are important factors in assessing the liquidity of the Bank and its
exposure to changes in interest rates and exchange rates.

Liquidity requirements to support calls under guarantees and standby letters of credit are
considerably less than the amount of the commitment because the Bank does not generally expect
the third party to draw funds under the agreement. The total outstanding contractual amount of
commitments to extend credit does not necessarily represent future cash requirements, as many of
these commitments will expire or terminate without being funded.

The loan portfolio principally comprises long-term mortgage loans, which are financed by shorter-

term customer deposits. As such, the Bank is exposed to liquidity risk, which is continuously
monitored by management. ; Seri onecneamee

Fiduciary risk

” The Bank is susceptible to fiduciary risk, which is the risk that the Bank may fail in carrying out
certain mandates in accordance with the wishes ofits clients. To manage exposure, the Bank takes

a conservative approach in its undertakings.

Fair values of financial instruments

‘Financial instruments utilised by the Bank include recorded assets and liabilities, as well as items
that principally involve off-balance sheet risk. These financial instruments are carried at fair value
or are relatively short-term in nature and accordingly, the estimated fair values are not significantly
different from the carrying value as reported in the consolidated balance sheet. e

Subsequent Events

On 1 March 2006, the Board of Directors of

the Bank ; :
approval of the Central Bank of The Bahamas: < Spproved fe following subject to the

i) The issuance by the Bank of $12 million in preference shares to a related party.
These new preference shares, which are cumulative, redeemable, and non-voting,
redeemable at the option of the Bank, have ne shareholder option for redemption and
redemption by the Bank is subject to the approval of The Central Bank of The
Bahamas. Dividends are payable quarterly in arrears, at the sole discretion of the

ae of the Bank, at the annual rate of the greater of 0.75% above Prime and
. 05 .

. fi) The purchase by the Bank of the existing $10 million in FBB preference shares and

the existing $2. million in FMBT preference shares id
conditions; P , Shares under. the same terms and

PricewaterhouseCoopers
Providence House

East Hill Street ..

P.O. Box N-3910

Nassau, The Bahamas
Website: www.pwe.com

E-mail: pwebs@bs.pwe.com

Telephone (242) 302-5300
Facsimile (242) 302-5350

INDEPENDENT AUDITORS’ REPORT
To the Shareholders of Fidelity Bank & Trust International Limited

We have audited the accompanying consolidated balance sheet of Fidelity Bank & Trust International
Limited and its subsidiaries (the Bank) as of 31 December 2005. This consolidated balance sheet is the
responsibility of the Bank's management. Our responsibility is to express an opinion on this consolidated
balance sheet based on our audit.

We condusted our audit in accordance with International Standards on Auditing. Those Standards require
that we plan and perform the audit to obtain reasonable assurance about whether the consolidated balance
sheet is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the consolidated balance sheet. An audit also includes assessing the accounting
Principles used and significant estimates made by management, as well as evaluating the overall
consolidated balance sheet presentation. We believe that our audit provides a reasonable basis for our
opinion.

In our opinion, the consolidated balance sheet presents fairly, in all material respects, the consolidated

financial position of the Bank as of 31 December 2005 in accordance with International Financial Reporting
Standards. 4
!

(allege

Chartered Accountants
20 April 2006



4 i





THE TRIBUNE BUSINESS THURSDAY, MAY 11, 2006, PAGE 1.3B

ee ee " ae

ae
ae

PRICEWATERHOUSE( COPERS J

PricewsterhouseCoopers a.
Av. Francisco Matarazzo, 1400 . a
Torre Torino ae
Caixa Postal 61005 |.
05001-903 Séo Paulo, SP - Brasit “Se
‘Telefone (11) 3674-2000

Report of Independent Auditors me Se Cornet

Ws Beale

To the Board of Directors and Stockholders i
Banco Ital BBA S.A. 2

ee a ee ee ee ee ee ee

41 We have audited the accompanying balance sheet of Banco Itat BBA S.A. as of
December 31, 2005, and the related statements of income, of changes in stockholders’
equity and of changes In financial position for the year and the six-month period then’
ended. These financial statements are the responsibility of the Bank's management. Our
responsibility Is to express an opinion on these financial:statements.

2 We conducted our audit in accordance with approved Brazilian auditing standards, which
require that we perform the audit to obtain reasonable assurance about whether the \ cy ee
financial statements are fairly presented in all material respects. Accordingly, our work isi

included, among other procedures: (a) planning our audit taking into consideration the ~ «
significance of balances, the volume of transactions and the accounting and Internal Bs
control systems of the Bank, (b) examining, on a test basis, evidence and records

supporting the amounts and disclosures in the-financial-statements, and (c) assessing the :
accounting practices used and significant estimates made by management, as well as

evaluating the overall financial statement presentation,

3 In our opinion, the financial statements audited by us present fairly, in all material
respects, the financial position of Banco Itau BBA S.A. at December 31, 2005 and the
Tesults of its operations, the changes in stockholders' equity and the changes in its



€
©

4 financial position for the year and the six-month period then ended, in accordance with

a accounting practices adopted in Brazil. é xe

y % : é ¥.8
‘ ; 4 As mentioned in Note 2, the financial statements are not being presented in a comparative e
ay form with the financial statements at December 31, 2004 due to the corporate ey
9 . : reorganization, as prescribed by item | of article 9 of the Central Bank of Brazil (BACEN) a 4

if : u Circular 3017/00. This corporate reorganization was approved by the Central Bank of ve

«eB . Brazil during 2005. ah
i , aA

4 S4o Paulo, February 14, 2006. ~ eb





tease Di lacrice Contd









‘ie
: |
Auditores Independentes #)
CRC 2SP000160/0-5 u
i fhe sco ho didorand g To as. orb ne , ie
¢ ay gif ait alliont Wie s (A free translation of the original in Portuguese) ey
vt Ree Gin oa BANCO ITAU.BBA S.A. ie
2 cd “Tee BALANCE SHEET AT DECEMBER 31, 2005 e ie
vend 31s - An thousands of reais ee
reef a cabal? Be My i ie
Ra are er , ASSETS _ .. yes ap hy ' LIABILITIES k
” KI
iM . >
ft vite BG : CURRENT ASSETS . « CURRENT LIABILITIES
- é : We n 4 - Gash and banks 116.505 s Deposits

































































































Banco Itau BBA S.A. develops its businesses within a wholesale bank, structure, directed towards the attendance of
customers.

2. PRESENTATION OF THE FINANCIAL STATEMENTS

fe staged nige Demand deposits .... 78.807
(interbank investments i Interbank deposits ... 9.720.803 : ee
Investments in the open market 1.594.456 - Time deposits ... 3.540.792 q
Interbank deposits 7.326.983 £ Other deposits .. 1.470 i
8.021.439 {, 13.341.872
Securities and derivative financial instruments Securities sold under repurchase agreements
Own PorttOtio -..-vseesseeeeeerseeseis 2.443.852 Own portfolio so... 988.759
Subject to repurchase agreements . 1.081.442. Third-party portfolio ie 629.270
_ Restricted to Central,Bank of Brazil 24.173 1.648.029"
Traditg securities given in guarantee 386.247 ° ' :
Derivative financial instruments ... 2.179.626 Funds from acceptances and issue of securities - issue of securities abroad ...... 49.574
6.115.340 : 4
Interdepartmental accounts = funds in transit - third parties ... 261.156
, Interbank accounts - : é
Deposits with Central Bank of Brazil . 9.437 Borrowings and onlendings . : . tw
Correspondents ........ccsecesceteeecneees 64.210 Local borrowings - other institutions ... 1.457 &
: , 73.647 Foreign borrowings 2.440.423 >
: Local onlendings - official institutions - B 1
Loan and other credit operations a ‘ National Bank for Economic and Social Development (BNDES) . 600.374
Operations with credit assignment characteristics . 8.735.249 Local onlendings - official institutions -
Allowance for loan losses : (240.186) ’ Government Agency for Machinery and Equipment Financing (FINAME) .... 269.975 *
8.495.063 (Local onlendings - official institutions - OTHERS . 46.251 #
3.358.480 ¢
Other receivables : : § |
Foreign exchange portfolio 1.339.531 Derivative financial instrument ............cccscesecscsesseeseseseees eh 2.053.898 ip j
income receivable .......... 8.239 4 #
Negotiation and intermediation of securities 413.622 Other liabilities : 4 4
Sundry receivables 417.960 Collection and payment Of tax@S oo... secesessssecstesesscssecnsesessesssesctsvscesseeseesses : 642 a
2.179.352 Foreign exchange portfolio . . 1.414.047 #
Social and statutory ......... 230.593 of
Other assets Taxes and social security contributions 345.331
Other BSSOUS eos tee seeeceescesttteecaneanicccecnesneeecnsssaneceseosernsctecansnineneteseennentnetien 3.314 Negotiation and intermediation of securities 336.663 :
Prepaid expenses... cl ceceeseeees etetueoravanatnss Sbofateaca aa Tre nner cate EOS 5.342 Subordinated debt . 67 é
8.656 Sundry liabilities 423.571 ie
2.750.914 B 5
TOTAL CURRENT ASSETS C1 dee ert ceca Aine hit —_35370.002 =. TOTAL CURRENT LIABILITiEs ... T4923 ey
(Aree transiation of the original in Portuguese) : ; wks ace Waneuae e aele.® . ° ee A :
BANCO ITAU BBA S.A. . i e ORE : aL E
M BALANCE SHEET AT DECEMBER 31, 2005 #
In thousands of reais f
ASSETS : LIABILITIES : mf
i ; ‘te ‘ (continued) f 4
+
LONG-TERM RECEIVABLES \ LONG-TERM LIABILITIES :
Interbank investments : Deposits _ :
investments in the open market .. p 3.234.272 interbank deposits ... 3.775.293 t
Interbank deposits 1.193.048 Time deposits 1.443.794 i
4.427.320 : ; i 5.219.087 ra
a
3 Securities and derivative financial instruments : Securities sold under repurchase agreements
j Own portfolio . bat Se aes harervoaise 1.668.482 © Own portfolio 554.259 if
Norse Subject to repurchase agreements 692.805 Third-party portfolio . 1.856.479 t
; - Restricted to Central Bank of Brazil 88.972 : ‘ 2.410.738 t
Trading securities given in guarantee ie 147.955 i si i 1
Derivative financial instrument... cceeseeceeseesteeeeesetessconeceseseeeseeseseeneneeeneenteess 647.424 Funds from acceptances and issue of securities - issue of securities abroad ...... 388.204 r
3.245.638 i
: Borrowings and onlendings is
: . é
% - Interbank accounts - interbank OMENDINGS ........ cc eccecceeeeseeseedeeebeneeeeeeessseneesaesenesaeiesee 1.546 Foreign borrowings ..... 1.168.971
* Local onlendings - official institutions - BNDES 1.570.835
e) Loan and other credit operations - operations with credit assignment characteristics ... . 6.258.068 Loca! onlendings - official institutions - FINAME 654.831
it : : Local onlendings - official institutions - OTHERS . 17.617
u Other receivables : 3.412.254 4
+ Income receivable .. Relicen 1.074 } f
a Sundry receivables . 419.625 Derivative financial instruments ............... 505.937
i 420.699.
‘oe Other liabilities ‘ Yl
4, . Other assets - prepaid Oxpenses oo... ccs secs cseeeeseseeresscsesnseedesesesseeenesannenees 7.142 Taxes and social security contributions .. e = 385.359
oe : Subordinated debt 116.835
4%; Sundry iiabililies .. 3.352 ‘
- 505.546
4 . We
* TOTAL LONG-TERM RECEIVABLES .. 14.360.413 TOTAL LONG-TERM LIABILITIES .....ccsccstssssssessssssenceceeceeeeseeeens Ue anaes 7 _12.441.766_ 4
¥ —_—_———— Z \ : f
#5 (A free translation of the original in Portuguese)
4 - BANCO ITAU BBA S.A. ; j
: BALANCE SHEET AT DECEMBER 31, 2005 Re
# In thousands of reais ; ‘ }
ri ASSETS : LIABILITIES is
$ (continued) if
is PERMANENT ASSETS DEFERRED INCOME .... 12.275 i
f ; Investments i
a Investments in subsidiaries 106.549 STOCKHOLDERS’ EQUITY ;
é -S i Other investments ...... 19.597 ‘ i
3 ; Allowance for losses ... (361) Capital - local 2.755.795 é
: : 125.785 Capital reserves . 97.348 4
i ’ Revenue reserves . 1.414.248 \
, 4 Fixed assets ; Adjustments to market value - available-for-sale 4
i Property for own use 10.713! investments and derivative financial instruments .. 27.478 i
f Other fixed assets ... 50.418 §. Retained earnings oo... 0... ceectesseeseneneteenenesenegee 245.278 t
uy we, Accumulated depreciation: . (33.772) © ,
3 27.359 TOTAL STOCKHOLDERS’ EQUITY. oy i
f " 4.540.149
Deferred charges auahs {
- ‘ Organization and expansion expenses .. 6.059 ;
: Accumulated amortization - (1.505) » ; ‘
y : 4.554 3
TOTAL PERMANENT ASSETS o0....ot.esssecsessessscsecseesseessesseesvensecseessresescssetssssseaneenesees 157.698
TOTAL ASSETS .. 40.428.113 |) TOTAL LIABILITIES o....cscccssessssssssesesessssseccnnsnsorecensnseesscesssanessnccunanesanssassussseesassusess ee 0.428.113
‘ s
4 The accompanying notes ‘are an integral part of these financial statements.
4 * "(A free translation of the original in Portuguese) é j
z BANCO ITAU. BBA S.A. i
4
a NOTES TO THE FINANCIAL STATEMENTS
y At December 31, 2005 i pes
‘ All amounts in thousands of reais, unless otherwise indicated
a
Â¥ '
¢ 1. OPERATIONS d
es ¢

The financial statements of Banco Itau BBA S.A. have been prepared in conformity with the principles of the Brazilian

Corporation Law together with the rules and instructions of the BACEN - Central Bank of Brazil. As determined by

BACEN Circular 2804/98, the financial information of the foreign branches is being presented on a consolidated basis :

in the financial statements of Banco Itau BBA S.A., translated into Brazilian reais at the exchange rates prevailing on ‘
the balance sheet dates.

As result of the corporate reorganization in 2004, which was approved by BACEN during the course of 2005, and in 8
accordance with BACEN Circular 3017/00, article 9, item 1, the financial statements of Banco Itai BBA S.A. are not ‘
being presented on a comparative basis with the balances of December 31, 2004. .





Interested persons may obtain a complete copy of the Audited Accounts from SG Hambros 4
Bank & Trust (Bahamas) Limited, P.O. Box N-7788, West Bay Street, Nassau Bahamas. ’

re as OL a A A Oe



uN



tae







FAGE

145, THURSDAY, MAY 171,



rs

2

IMIDVING SI UII dS



@ ST ANDREW’S
Hurricanes take on NCA
Crusaders yesterday.

The Hurricanes won the
game 17-10 and 17-13.

(Photo: Felipé Major/
Tribune staff)



i KINGSWAY’S Raymond Bingham spikes the ball over the ne
yesterday in junior boys play. Kingsway defeated the Comets bot
(Photo: Felipé Major/Tribune sti





ilies ee

3

gsway
in junior

(Photo: Felipé Major/Tribune 8





ball over the net yesterday duri
junior boys action./SA€ won 17-1
and 17-10 against the Falcons)

(Photo: Felipé Maja
- Tribune:









“VISIBILITY WATER TEMPS.



Today WAVES














































| High = Low W NASSAU Today: ‘Sat 6-12 Knots 1-2Feet ‘6-7 Miles 79° F
i Friday: WSW at 8-16 Knots 1-2 Feet 4-7 Miles 79° F
Het FREEPORT Today: S at 8-16 Knots 2-3 Feet 5-7 Miles 78° F
MODERATE | HIGH Amsterdam NNW at 8-16 Knots 5-7 Miles
. See 5 a j ; : ce . Kat S at 8-16 Knots ~ 2-3 Feet 5-7 Miles 77°F
Very warm with Partly cloudy and - Clouds and sun,a {Partly sunny witha Partly sunny. Some sun with a The higher the AccuWeather UV indexâ„¢ number, the ae WNW at 8-16 Knots 5-7 Miles
partial sunshine. -warm. shower possible. shower possible. shower possible. greater the need for eye and skin protection. EAU
| High: 88° High: 86° High: 86° High: 86°
High: 88° | Low: 74° | Low: 72° | Low: 70° Low: 72° Low: 72°
| VATA er tema bated i AccuWeather RealFeel | AccuWeather RealFeel ‘renee RealFeel BUT eelcienice uae
[er | tL 93°-76° F [_93°-73° F Sis a “S73 Ff

















The SSchiSNs AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure, and Today 7:19 a.m. 24 1:16a.m. 0. 2
elevation on the human body—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 736 p.m. 29 1:14pm. 02°
: Friday @08am. 24 1:58am. 0.1
8:16 p.m. 3.0 1:50pm. 0.2 66/18 48/8 +





; Statistics are for Nassau through 2 p.m. yesterday Saturday 837am. 24 2:30am. 0.1

ABACO Temperature 8:56p.m. 3.0 2:29pm. 0.1

igh: 36° F/30° High , 90° F/32° C -
High: 86° F/30°C : © 99° Sunday 27am. 24 3:21am. 01 —
“Low: 74°F/23°C ees oe ee eg 9:38 p.m. 3.0 3:09pm. 01















Normal low . 71° F/21° C
' : z Last year's high .. . 82° F/28° C
High:88°F/31°CG Last year’s low .... . 66° F/19° C ae
Low: 74°F/23°C_ : ge: Precipitation Sunrise. .....6:28a.m. Moonrise 6:31-p.m.
2 a AS Of 2 p.m. yesterday coves 0.00" ‘Sunset...... 7:45 p.m. Moonset. .... 5:11 am.
S Vea t0 date... .csssessssseseseceeesstrssssseesseens GOO” Full
‘High: 85° F/29° C Normal year to date w..c cc ccescsesteees 8.96" eee te | t(‘<«é‘“‘i «~©=—S—*=


Low: 72° F/22°C





AccuWeather.com EX] showers
. All forecasts and maps provided by : IS: a. . [4 T-storms } Miami
AccuWeather, inc. ©2006 May 13 May 20 May27 = Jun. 3 {o=a"{ Rain ¥ 86/71
86°F/30°C = : = : ee [*_*] Fluriies . a
4° F/23°C ‘ Z gi e neue 80/26 s 4 Snow Cold gL
: ce : : ; ie] ice Shown are noon positions of weather systems and Warm fief.

otansotadaadnetsgoudbsnsed dn dctocussendas sei bed edited added tained edna

precipitation. Temperature bands are highs for the day. :
Forecast high/low temperatures are for selected cities. Stationary Aag—&



KEY WEST
High: 88° F/31°C
Low: 76° F/24°C





81/27 66/18 t
SAN SALVADOR C42
High: 88° F/31°C a ees - 58/14 46/7 :
eS ee G . 79/26 58/14 c



' 1



Shown is today's weather. Temperatures are today
highs and tonights's lows.

S





High: 89° F/32°C.
Low: 77° F/25°C



MAYAGUANA







High Low W High: 88° F/31°C

Fe low Fete
“80/26: 54/12 s/
52/11 38/3 pe






RAGGED ISLAND
High: 89° F/32°C
Low:73° F/23°C





6518 arnt Low: 5 Fac 73/22 49/9 pc







62/1 48/8



GREAT INAGUA.
High: 90° F/32°C
Low: 76° F/24°S

78/25 53/1









73/22 56/12 pe




Tek (2) BBT-4204 f To: 242) 332-2862 f Tok: (242) 396-200








78/25 54/12 68/20 : fone Sg / Winnipeg 53/11 37/2 s 52/11. 34/1 s
3 eee . i a = 4 " =
86/30: 59/15 Washington, DC 66/18 55/12 t 73/22 55/12 po g Weather (W): s-sunny, pe-partly cloudy, c-cloudy, sh-showers, t-thunder:

storms, r-rain, sf-snow flurries, sn-snow, i-ice, Prcp-precipitation, Tr-trace







THURSDAY, MAY 11, 2006

SECTION

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





@ VOLLEYBALL:
By KELSIE JOHNSON
Junior Sports Reporter



IT WAS a busy day on the
court for the St Andrew’s Hur-
ricanes, but the pressure that
comes with the job didn't stop
them from cruising on to victo-
ry. -
With two games on hand at
the St Augustine's College
yesterday, the Hurricanes -
paced themselves and, at the
end of the battle, they walked
away victorious over the St
John's Giants and the Nassau
Christian Academy Crusaders.

It took just two sets in both
games for the Hurricanes to
add to their perfect win-loss
record. The first win came
over the Giants 17-13 and 17-
13, the game against the Cru-
saders finished 17-10 and 17-
13.

The two game win was just
what the Hurricanes needed,
explained captain Ramon Stra-
chan, especially the loss they
handed to the Crusaders.

Team

Strachan said: "There are
still a lot of things we need to
work on as a team, so coming
here today and winning the
two games was what the team
needed.

"We still aren't playing up to
standard and in some cases we
are having a lot of mental laps-
es that lead to silly mistakes. If
we can correct the mental
lapses than we can be.the team
to beat."

Describing the win over the
Giants as quick and easy, Stra-
chan said he was hoping the
match-up between them and
the Crusaders would have
been a little tougher.

He added: "I wasn't expect-
ing them to play us how they
did, but I guess in the end the
best team always wins.

"They have a pretty good
team but we just played
together and came out on
top."

The Hurricanes are currently
in first place with a 4-0 win-
loss record.

The match-up between
Queens College Comets and
the Kingsway Saints went:
down to consistency.

Comets' Kato Pinder and
Saints' Kriston Moore were
both determined to bring the
fire in their game today, hop-
ing it would be enough to give
their team the win.

Even though both hitters
went after every ball set,
Moore would lead his team
safely to a win, defeating the
‘Comets 17-14 and 17-10.

In another match-up, the Big
Red Machines would hand the
Prince Williams Falcons a loss
with a 17-15 and 17-10 victory.

The Tribune.



MIAMI HERALD SPORTS

Kingsway fly past the Comets

i

@ KINGSWAY’S Kriston Moore spikes the ball over the net as QC Comets try to block yesterday in junior

boys play. Kinsgway won 17-14, 17-10

(Photo: Felipé Major/Tribune staff)

Tyne UY




roe a
Vo) er)
Claes















































































iCo-barmieuebbentered
| Precip aetna

a BASKETBALL
‘By KELSIE JOHNSON
Junior Sports Reporter

HEAD coach of the Bahamas’ under
18 basketball team Mario Bowleg
announced yesterday that selecting a 12
member team to compete at the Interna-
tional Basketball Federation (FIBA)
Americas U18 championships is going to
be the hardest decision he’s ever had to
make since he became coach.

Bowleg, who revealed the names of
the 25-member training squad yesterday,
said the caliber of players trying-out for a
spot makes the selection process harder.

He said: “When I looked at the talent
base this year. I was amazed to see how
well the junior programme has expanded.
This is great for the country, but diffi-
cult for me as a coach.

“The players who have been selected to
the training squad are all fundamentally
sound, which is great — an added plus in

' some words. This is going to be hard if we
compare this year’s team to the team we
had in Dominican Republic last year.

“If we really look at it we have discov-
ered a few gems in the rough, and as a
result we are going to have a more tal-
ented team. We cannot ask for a much
better selection than this one we have
right here.”

Returning to lead the team are Kyle
Grant, David McPhee, Dashton Baker,
Lavardo Hepburn, Lavardo Hepburn,
Adrian Wilkinson, Carlos Thompson,
Jeffery:Adderley and Scott Farrington

Grant won the MVP award at the
Caribbean Basketball Champions last
year.

_ Coming in from Freeport will be Grant,
McPhee, Garvin Hunt, Crishad Thomp-
son, Marco Rolle.

Practice sessions in Freeport are on
hold right now due to the lack of facilities. °
According to Bowleg, this problem
should be resolved later this week or as
early as next week.

The members will be allowed to use
the St Georges’ gym when their schedule
is set.

Bowleg said: “The members in
Freeport haven’t been doing any ball
workout because they don’t have any
gym to practise in, but they are working
out. :

“They are doing a lot of endurance
work-outs. I am expecting them to come
- down in shape though. Many of the guys
, coming in from Freeport were named to
last year’s team so we. are looking for-
ward.to having them back on the team.”

Bowleg believes that the Bahamas will
stand a fighting chance of advancing to
the semifinal rounds as one of the top
two teams — if their core players step up
and except the challenge.

Noting that there were several players
last year who perfected the role game,
Bowleg said if members selected to this
year’s team do the same job as the play-
ers last year, then the transition on and
off the court will be easier.

He added: “We have great guards and
centres and we are going to need them in
big games. Our defensive game will sep-
arate us from the other teams, offence
comes naturally for this team.”

The Americas U18 championships is
scheduled for June 28th-July 3rd, in San
Antonio, Texas. The Bahamas ‘will be
playing out of pool B.









Training Squad

Ollen Smith Rashad Williams
Leon Bain Carlos Thompson
Dashton Baker Kyle Grant

Robert Missick Jeffery Adderley
Virley McKinney David McPhee
Lavardo Hepburn Garvin Hunt
Rashad McKenzie Crishad Thompson

Marco Rolle
Antione Bootle
Scott Farrington
Devon Jackson
Mario Pratt
Dwight Miller

Kyheil Roberts
Tareano Clarke
Adrian Wilkinson
Mario Curry
Eugene Bain
Cademe Coleby



For every McDonald ’s Cookie you purchase during

‘the month of May 2006, McDonald’s will make a
_ donation to the Cancer Society of the Bahamas







oe
ee





PAGE 2, THURSDAY, MAY 11, 2006




THE TRIBUNE OBITUARIES

Rock of Ages Funeral Chapel

Wulff Road & Pinedale
Tel: 323-3800 or 322-1431 ©¢ Fax: 328-8852



Pasay ee aS FOR



DORIS HANNA, 74

‘ Bishop Solomon Humes,

Hanna.
Cemetery Spikenard & Cowpen Road.

Hanna; three brothers, Alins and Donald Hanna of Miami,

| and a host of other relatives and friends including,
Cousins: Neil Brennen, Pastor Kathyann Hanna of Snug

assisted by, Pastor Kathyann

Interment: Southern : a resident of Wilson tract; will be held at the Amazing |

_ Grace Missionary Baptist church, Wilson tract on Friday |

! May 12th 2006 at 1:00pm. Officiating: Rev. Elva Johnson,
She Is Survived by, one loving and faithful Son, Fritz _ Assisted by: other ministers of the gospel, Interment
ae | Old Trail Cemetery, Abundant life road.

Florida and Pastor Ehurd Hanna; 4 Sisters, Hilda Cox x

and Evangelist Lorina Nottage of Miami, Florida; Marilyn She is survived by her mother; Shandera Newbold; one |

LaFleur and Albert Ferguson. Two brothers-in-law: - brother: Dershando; grand-mother: Carol Johnson;

| Deacon Gladstone Nottage of Miami, Florida and Three Aunts: Winchesa, Ashely & Ashaneke; four uncles:

| Washington Lafleur; seven sisters-in-law, Virginia Hanna Shavano, Allen Jr; Cleveland & Ashton: two great-grand |

| of Miami, Florida; Priscilla Hanna of Acklins; Dorothy mothers; Mrs Barbara Leadon & Mrs. Rowena Newbold:

| Hanna of Miami, Florida; Birdie, Joyce and Dollymae | two great grand fathers: Allen Newbold & Daniel Leadon;

| Hanna and Evangelist Colette Hanna of Miami, Florida. three grand-uncles: Jerome, Jermico & Jermone; one |

| her guardian and special cousin, Eliza Taylor of Acklins; great grand aunt: Lynn Johnson; grand aunts: Ann, |
_ Monique, & Sharon numerous other family and friends |

_ including Dianne Munroe, Daphne, Ormar, Jarazz, Jamon |
| Corner, Acklins; Pastor Betty Deveaux of Delectable _ Jr; Jamona, Val tino, Shawquan, & Jason: God-Mothers |
Bay, Acklins; Carrie Walker, Ametha Thurston, Beulah

Sands, Velma Ferguson, Thelcene Simms, Goolie Moss, | The Bethel family & Dominique & a host of other relatives

Malcolin Cox, Sybil Pinder, Errington And Preston Hanna, |



| Funeral Chapel on Wulff Road and Pinedale on Friday
_ from 10am - 6pm and on Saturday from 1pm until
| funeral time at the church.

a resident of Snug Corner |
Acklins; will be held at The |
Church Of God Of Prophecy, |
Soldier Road on Saturday May |
13Th 2006 at 2pm. Officiating

DERANEKA DERSHANDA
NEWBOLD, .
4 Months

Daphane, Tanya, Clarnessa, Davan Taylor & indiria Virgil,

» _ and friends.

Curtis Hanna, Duke Errol Strachan, Pastor Rufus And |

Cleveland Hanna, Holston Nottage, King Eric And John | Friends may par their last respect at Abel of Ages

‘Gibson, Minister Brady and Brenville Hanna, Hilma funeral chapel on Wulff road and Pinedale on Thursday
Ferguson, Thelma Demeritte, Fr. Harry Ward and Delores _ from 10am to 6pm and on Friday from 12 Noon until

_ funeral time at the church.
| the Staff Of Geriatrics Hospital, the entire Church Of

| God Of Prophecy families at Meadow Street, Minnie 2
| Street, Soldier Road And Miami No. 1,.Ruthmae And :

Forbes, the entire Snug Corner, Acklins Community,

| Hansel Ferguson.





THE TRIBUNE OBITUARIES

Ta EE SAS SEIS BSS TLS =

L














JOAN NA "CANDY" ©

f
i
8
fi
\
a
i

4

| She is Survived by her daughter: Leona Dean; One Son- :

Interment:Old Trail Cemetery Abundant Life Road.
| in-law: James O. Dean; Grand-children: Richard Hall,

| Julika & Zoviz Dean; Twenty-eight Grand-children:
| Adrianna Thompson, Richard Hall, Sophia Hall Bethel,

Bassett, Lilly and Grace Miller; Nephews: Raymond,



Of Anderson Hill Acklins; Will

Be Held At The Church Of | & Marilyn Lafleyr, The Pratt Family, Daphane Sears & |

God Of Prophecy, Meadow © Family, Freddie Major, Elton & Lottie Williamson, Samuel |
Street & Hospital Lane On |
| Saturday May 13Th 2006 At |
l 8:30am.Officiating:Bishop |
Ss Philip F = aa

Oe nes ee eee olan _ Thelma & Francis Clarke & families; Nemiah & Angela

» Cooper, Shirley Poitier, Majorie McIntosh, Fred Wallace,

THURSDAY, MAY 11, 2006, PAGE 3

Wulff Road & Pinedale |
Tel: 323-3800 or 322-1431 ¢ Fax: 328-8852

ear SERVICES FOR

| Dorcas Cox; Henry Colebrook, Gladys Lightbourne,

| Sen. C.B. Moss, Beryl Armbrister, Rosemae Clear, Portia
: Armbrister, Baintown Urban Renewal, WPC Joanne
_ Major, Monique Morley, David & Marie Rolle, Shan Taylor.
| Bro. & Sis King, Mother Larrimore & families; Patricia

Ground: Commend Formerly 2 Chisolm, MT. Olive Baptist church, family Michael Huyler,

Bro. Hutch & Mrs. Bernadette Hutchinson, Washington |

& Dorothy McPhee, Verdell Cooper, Terry Miller, Erica |

Johnson, Nathaniel & Shantel Ferguson, Judymae Cole,
Carla Forbes. Apostie Charles Wailace, Nicole Pratt,
Dianna Ward & family, Devado Taylor, Kitley & Albert,

UREN ST RE ATT

Joyce Johnson, Rose Beneby, Marina Hanna, Angela

_ Neily, BR. Paul, Benjamin Forbes, Godfrey Johnson,

| Sgt. 202. Orlando Of Freeport, Grand Bahama, Alisia : Rev Charles Rolle, Ambadarch & Freddie, Shirley Brown,

/ : | Tony Mackey, Mrs. Pintard, George. & Pearl Thompson,
| Dean, Lucretia Dean Rolle, Owen, Veda, Colleena, Anya, Harcourt (Bum) Stevens, Tanya & Nicole, Sandra, Sherry
Stevens & Families; Apostle of the end time church,

| Kimberely Dean, Hughnique & Holli Rolle, Dewitt, Dewae, _ The Church of God of Prophecy Meadow Street families:

| D'asha & Dewhone, Leonardo Stevens Jr; Keijuano | Pastor Cephas Ferguson, Bishop Solomon Humes,

| Davis, Jackheil Kemp, J'nell Dean, Orel & Orlandria | Bishop Hulan Hanna, Bishop Nathaniel Beneby, Bishop
| Dean, Ashley Culmer, Onette, Oneice, Orshanique Dean, |
Cherylina, Cleo, Jeremy & Dion Rolle, Nadio, Jamal & |
| Cleopetra; Eight Great Great Grand Children: Kadesha, : re : :
Nikita & David: Thompson, Tanya, Tiffany & Olivia Rolle, _ Of Nassau, the Ministry of Foreign Affairs, Senor Frogs,
Allyiah & Ave Bethel; Grand-son -In-law; Hughdon Rolle;

Grand-daughter-in-law; Nikita Thompson & Kareem Bahamas (accounts control section), the Lucaya Police

Bethel: Nieces: Gloria Adderley, Kelly Opie Rolle, Marcell _ d@Partment families and many others too numerous to

| Forbes, Frances Gibson, Doris Rolie, Marion Johnson, _ Mention.
Larry Williams, Mavis Brown, Adrian Adderley, Joanna :
Neily, Rhonda Miller, Melissa Miller-Deveaux, Amris |

Brown, Joanne Cadet, Elanor Ferguson & Advilda from 10am to 6pm and on Saturday from 9am unit!

Everette, Donnie, Delano, Ednal Miller & Robert Ferguson; Micay time at the church.

Cousins: Ronald Miller, lvadell Carey, Henry Miller & |
| Kathleen; A Host Of Other Relatives & Friends Including; |
Emerald Bethel, Jefferson & Helen Stevens, Irene Darling, |
| Andrew Stuart, Maxine Brown, Ezra Baillou, Rosie |
Saunders, Maria Johnson, Idamae Taylor, Mary Sweeting, |
Evie Lafleur, Sis. Epsie Clarke & Families; Kelson & |

Joseph Swann & families; The Baintown Community,
The Dumping Ground corner family, The Salvation Army,
the staff at Bahamas. Customs department, the Pirates

Lucianos,. Bahamas food services, the bank of the

Friends may pay their last respect at Rock of Ages
funeral chapel on Wulff road and Pinedale on Friday





PAGE 4, THURSDAY, MAY 11, 2006

THE TRIBUNE OBITUARIES

Robinson and Soldier Roads, Nassau, N.P., Bahamas
P.O. Box CB-12072 ~
Telephone: (242) 394-8043 / (242) 394-8047
Pagers: 340-8043 / 340-4424 / 340-8034 ¢ Fax: (242

FUNERAL SERVICES FOR

Susanna Louise
Knowles, 70

of Fortune Village, will be held on
Saturday, May 13th, 2006 at 10:00
am, at All Saints Anglican Church,
All Saints Way, Joan’s Heights.
officiating will be Rev Father S
Sebastian Campbell and Rev Father
G Kingsley Knowles. Interment will
follow in Old Trail Cemetery, Old
Trail Road.

She is survived by her gour sisters, Naomi Knowles of Simms
Long Island, Judy Andrews of Clewiston Fla., Annamae and
Sharon of Nassau; 3 brothers, Eric Knowles of Cocoa Fla,
Oswald Knowles of Freeport and Hurbert Knowles of Nassau;
two uncles, Rev Urban Knowles of Simms, Long Island and
Lawrence Knowles of Nassau; 3 aunts, Eureka Knowles of
San Salvador, Alma Maria Knowles of Simms and Lillimae
of Nassau; ten nieces, Stephanie Pratt, Cheryl Mckenzie-
Howard, Lavern Knowles, Rita, Ingrid and Sheena Brown,
Odessa and Shenique Knowles, Bereka Andrews and Cheryl
Gray; eleven nephews, Sherman, Kevin, Ricardo, Marvin,
Ken, Sean, Oswald Jr, Troy, Tavaris, Jason and Godfrey Jr,
13 grand nieces, Lashanta, Matina, Shelvanda, Leante’,
Carnadia, Jordan, Monisha, Lanora, Kendisha, Tanisha,
Shavania, Shekinah, and Senora; 10 grand nephews, Noel,
Nicholas, Branden, Ricardo De-angelo, Delano, Javon, Trevon,
Sean Jr, and Godfrey Jr; eleven great grand nieces and
nephews; four sisters-in-law, Mildred (Nita), Lillian, Vicky
and Olive; three brothers-in-law, Wilfred, Jeffrey and Mr.
Wendy Knowles; stepmother, Virgil Knowles and a host of
other relatives and friends Including, Rawle Maynard of
Freeport, Patsy Green, Ivy Seymour, Violet Stewart,
Arimmenta Butler, Clifford Knowles and Family, Audley
Pratt, Phillip Howard, Martha Johnson, Edward Knowles,
Monique and Berney, Nola Mckenzie, Louise Adderley,
Michelle Gilbert, Joseph David, Vernice, Kirk, Anthony,
Alvin, Lillian, Wendell, Carnetta, Inez, Vincent Smith, Cephas,
Bernard and Regina of Palm Beach Fla, Patricia, Ivan, Calvin,
Dorothy, Griell, Benson, Garnet, Lyndon, Clayton, Elvinia,
Dianna, Pamela, Joan, Linda, Carolyn Miller, Betty Roberts,
Alice Sands, Patsy, Sybil, and James Knowles, Rudolph
Minnis, Shirley and Alfreda Thurston, Rev. Alvin Gray,

Phillip, Garfield, Samuel Frank, Wellington, Kenwood, Wan,
Dave, Dale, Linsley, Cheryl Knowles, Caregiver, Joyce of
Freeport, Eloice, Nurses and Staff At St. Luke’s Medical
Center, The Dialysis Unit of Nassau and others too numerous
to mention.

Viewing will be held in the “Celestial” Suite At Restview

_Memorial Mortuary and Crematorium Ltd., Robinson and |

Soldier Road on Friday from 10:00 am until 6:00 P. M. and |
then at the Church on Saturday from 8:30 am until service
time.

Eva Elizabeth Deveaux, 84

of Clifton Street, will be held on

| Friday, May 12th, 2006 at 11:00 |
am at New Providence Seventh Day |
Adventist Church, Soldier Road |
East. Officiating will be Pastor Dr |
MD Toote, assisted by Elders.

1 Interment will follow in Woodlawn
Gardens, Soldier Road.

Left to cherish her memories are

her sister, Vernita Dugay; five

grandchildren, Dwayne, Dino and Deon Deveaux, Shane
Bain and Alketa Daxon; one daughter-in-law, Julia Deveaux;
three nephews, Nelson Walkine, Rudolph and Clifford
Mckinney; one niece, Violet Miller; other relatives and
friends including, Kimberley and Melba Deveaux, Elva
Lightbourne, Narissa Young, Shirley Bain, Deangelo, Dechea,
India, Julian Deveaux, Donita, Daron, Antonia Daxon, Theda,
Nora ‘Cartwright, Maxine Lord, Louise Smith, Ruby Thurston,
Nellie Pratt, Anthony Curtis and Family, Pastor Dr MD Toote
and Family, Clifford Mckinney and Family, Rudolph
Mckinney and Family, Nelson Walkine and Family, The St
George’s Anglican Church Family, The Seventh-Day
Adventist Church Family and Godfrey and Family

Viewing will be held in The “Serenity” Suite at Restview
Memorial Mortuary and Crematorium Ltd., Robinson and
Soldier Road On Thursday from 10:00 am until 6:00 pm

and then at The Church on Friday from 9:30 am until
service time.





THE TRIBUNE OBITUARIES .



THURSDAY, MAY. 11, 2006, PAGE 5

| Memorial Mortuary
and Comedovium Limiled

NASSAU

Robinson and Soldier Roads, Nassau, N.P., Bahamas
P.O. Box CB-12072
Telephone: (242) 394-8043 / (242) 394-8047



Louise Georgianna
Minnis, 68

| of Armbrister Street, Fox Hill will
be held on Sunday May 14th, 2006
} at 11:00 am at Maranatha Seventh
Day Adventist Church, Prince
Charles Drive. Officiating will be
Dr H A Roach and Pastor E D
Clarke assisted by Elder Joseph
Moore. Interment will follow in Fox
Hill Cemetery, Fox Hill Road.



Left to cherish her memories are five sons, Arthur Minnis Jr,

Robert Outten, R/C #775 Patrick Minnis, Pedro and Antoine

Brice; 2 daughters, Sharon Davis and Michelle Wells; 21
grandchildren, Dr Shaniqua Rayford of Atlanta Georgia,
| Tredika, Kadasha and Deshante Davis, Nastacia and Patricko
| Minnis. Georvette and Georvantae Wells, Kendal Sr,
| Emmanuel, Clemetina, Rebecca, Ruth and Vivian Minnis,
| D’angelo, Dekotdeo, Robert Jr. and Robyn Outten, Chardonnay,
| Antisha and Maliyah Brice; 1 great grandchild, Kendall
| Sands Jr; 2 sisters, Ida and Doris Demeritte, 2 sons-in-law,
| Trevor Davis and George Wells; 2 daughters-in-law, Etienne
; and Marvette Minnis; 1 sister-in-law, Janette Demeritte; 1
grandson-in-law, Warren Rayford of Atlanta Georgia; 23
| nieces, Virginia Taylor, Betty Brice-bain, Daisy Johnson,
| Jacinta White, Judith, Theresa Davis, Patsy Femme, Miriam
and Deborah Demeritte; Claudine Rolle, Maxine Sands,
| Marjorie Brown, Vera Demeritte, Rose Burrows, Shirley
| Armbrister, Blanche Demeritte, Bernie Demeritte, Millicent
.Mackey, Sandra Carr, Arianitta, Gwendolyn Pratt, Shirley and
| Cleome Ferguson; eighteen nephews, Albert, Thomas, Willard
j and Larry Demeritte, Gary and Edmund Carr, Fredrick,
Stafford, Rodney and Ernest Demeritte, Benjamin, Locksley
Jr, Lester, Allan, Gregory, Albert and Isaiah Demeritte,
Willington, and Reginald Demeritte and a host of other
| relatives and friends including, Maleria and Era Ferguson
and Family, Rosalie Clarke and Family, Pastor and Sister H.-A.
| Roach, Pastor and Sister ED Clarke and Family, Warren and
| Gayle Farquharson, Gideon and Sonia Storr and Family,
; Genevieve Paul and Family, Nurse Joann Rolle and Family,
| Robert and Jennifer Francis and Family, Alithea Strachan and
Family, Claramae Pratt, Delano Hamilton and Family,



; Constance Hutchinson, Tony, Charms and Charphane Burnside, -’

we



Pagers: 340-8043 / 340-4424 / 340-8034 Fax: (242) 340-8034

a eS aa




Thoy Rahming, Denise Russell and Family, Teora Murray
and Family, Rochelle King, Rev Ednal Minnis, Cherese
Westmoreland, Valentino, Erick Bain Jr. The Maranatha S.D.A.
Family, The Step Street and Fox Hill Families and Other
Relatives and Friends.

Viewing will be held in the “Irenic” Suite at The Chapel at
Restview Memorial Mortuary and Crematorium Ltd.,
Robinson and Soldier Road on Saturday April 13th, 2006
from 10:00 am until 6:00 pm and then at the Church on
Sunday From 9:30 am until service time.




w
>
r

be

Roosevelt ‘Chickie’ ‘Roach :
Mckenzie Sr, 61



Formerly of Rolleville, Exuma died at
Princess Margaret Hospital on Saturday,
May 6th, 2006.

He is survived by his Wife, Genevieve
Mckenzie; Mother, Iva Rolle; three
daughters, Chervon And Shericka
Mckenzie and Anishke Johnson: two sons,
Pe. 1330 Steven ‘Skinny’ Mckenzie And
Pc 1950 Roosevelt ‘Twine’ Mckenzie Jr;
five sisters, Elva Nairn, Lazera Rolle, Eloise ©
and Katiemae Mckenzie and Ivamae Clark; nine brothers, Daniel of
Florida, Clayton, Preston, Laban, Daniel and Michael Mckenzie, David,
John and Alexander Stubbs.

Funeral arrangements will be announced later.

Dwayne Adderley, 39

of Willis Street, Nassau Village died at
his residence on Friday, May Sth, 2006.

He is survived by his sister, Roseann
Adderley; two brothers, Mark and
Adrian Augustin; four nieces, Latera
Smith, Tamika, Charlisa and Candech
Williams. ;

Funeral arrangements will be announced
/ later.



CB S600 a8 0a RA DE EEE TES ESSE REE PE SL SPC Pe STOOD FS TS BESET ESTE USE SOE





PAGE 6, THURSDAY, MAY 11, 2006

Pinder's Fi ineral Home

“Service Beyond Measure”

PALMDALE AVENUE, NASSAU, BAHAMAS
PHONE: 322-4570/ 393-1351 * CELL: 357-3617

RANNIE PINDER President
oe

WILLIAM DOYLE
SANDS

who died at the Princess |
Margaret Hospital, will be held
| on Saturday May 13th, 2006 at

llam at Evangelistic Temple

| Collins Ave. Pastor Gary Curry

| assisted by Minister Eric Fox
officiating. Burial will be in
Old Trail Cemetery Abundant
Life Road.

He is survived by two
. daughters: Tara "Ticie"
Armbrister and Nadia Sands; one son: Sean Sands; one son-
in-law: Craig Armbrister Sr.; one daughter-in-law: Suenell
Sands; Two brothers: Tony and Reginald Sands; four uncles:
Wayde, Donald, Billy and Robert Sands; three aunts: Marguerite
and Vadie Sands, and Sheila Alvarete; four grandchildren:
Craig Jr., Tiara, Adam and Aden Armbrister; two step-
grandchildren: Crysnah and Crystal; six sisters-in-law: Beatrice
and Sandr: Sands, Olga Burrows, Pauline Pavon, Rosemary
Knowles a ¢ Glorie Moree; three brothers-in-law: Eric Moree
Sr., Angelo ?avon Sr., and Kevin Knowles Sr.; numerous nieces,
nephews a idl friends including: Linda Fox, Wellington Fox,
Regina Sims, Pastor David, Kenney and Paul Cartwright,
Rebekah Tedeschi, Rhonda Albury, Stephanie Sands,
Christopher Albury, Jonathan Chee-A-Tow, Randy Sands, Troy
Sims, Robert Tedeschi, Andrea Sands, Kate and Emily Sims,
Michael, Christopher and Ian Fox, Alec Sands, Peter Tedeschi
and Noah Albury, Dorothy Holbert and family, Eileen Dixon
and family, Dwight Longly and Charmaine Wilson, Management
and Staff of Coral Beach Towers. Lobby Bar at Atlantis, Shelly,
Gregory, Linda, Elisa, Angelo Jr., Eric Jr., Pietro, Racquel,
Kevan Jr. and Le~oss, Bryan, Donnie, Patrice, Rochelle and
Dawn; special mends: Roslyn Best and Sarah Thomas and
Wesley Wright. Special thanks to the Staff and Family of Teen
Challenge Bahamas for their special care of Doyle during his
illness.

In lieu of flowers please make a donation to Teen Challenge
Bahamas P.O. Box SS-6754 Nassau, Bahamas in memory of
William Doyle Sands.

Friends may pay their last respects at Pinder's Funeral Home
Palmdale Ave., Palmdale on Friday May 12th, 2006 from
5:00pm until 7:00pm.

_ “THE TRIBUNE OBITUARIES

etzrG USC P25
FUNERAL DIRECTORS

“Rendering the finest in caring and compassionate service
regardless of financial condition.”

7th Terrace, Collins Avenue * (242) 356-2187 *
P.O. Box GT-2679 * Nassau, Bahamas

Baas SUS FOR

RODGER
ANDERSON, 50

| of Dundas Town, Abaco will be
+ held on Saturday, May 13, 2006
f at 11:00 a.m. at Latter Rain

Ministries, Dundas Town, Abaco.
Officiating will be Pastor
Alexander Archer assisted by Rev.

| Jerry Cornish. Interment will

follow in The Dundas Town Public
Cemetery.

Family and friends may sign the .
Condolence Register at the church on Saturday from 10:00 a.m.
until service time.

Left to mourn his passing are his father, Reginald Anderson; six
sisters, Estella Deveaux, Fredricka Stuart, Maisie Cartwright, Laura
Albury, Vanria Anderson and Brenda Archer; three brothers, Sidney
Deveaux, Tyrone and Jeffrey Anderson; five aunts, Margaret Lewis,
Gwen and Marie Hanna of Nassau, Catherine Hinsey and Eufenie §
Coakley of Andros; one uncle Leroy "Pemmy" Hanna; two brothers- |
in-law, William Albury and Alexander Archer; one sister-in-law,

# Caroline Anderson; 14 nieces, Patricia, Theresa, Sherelle, Michelle,
| Brenda, Karen, Natasha, Monique, Sharon, Tiffany, Charmaine,
1 Camille, Stacey, Evanya, Crystal and Jody; 14 nephews, Vandyke,

Chaz, Desmond, Ricardo, Jason, Cameron, Alex Jr, Herbrell, Kevin,
Edwin, Alec, Dwayne, Taj and Jasmine; 20 grand nieces and 11
grand nephews.

| Other relatives and friends including, Jerry Cornish and family, the |
| Hanna and Hinsey families of Love Hill, Andros, the Anderson,

Lewis, Neilly and Coakley families of Andros, Sylvia Collie and |
family, Bertram Rahming and family, Peter and Washington Dames, |
Simeon and Tina, Shawn, Shelly, Bernard, Jackie Simms, Raquel

Armbrister, Viola Johnson, Francis Jones, Joyce Smith; neighbours

f of Block 30, the Nairn family of Cooper's Town, Marsha Roberts
|} and family, Howitt Moss, Melissa Minns and The Church of God §
F family, Dundas Town, Abaco. ;

: Family and friends may sign the condolences register at the enureh :
ou oy from. 10am uae service time.





THE TRIBUNE OBITUARIES



oy. * - 7

Rurtiss Memorial Mortuary
-Chapel, Ramsey, Exuma - Tel: 345-7020e Robinson Rd & 5th Street
Tel: 325- 662 1/322: 4969 ¢ 24 Hour Paging Service 323-9761

THURSDAY, MAY 11, 2006, PAGE 7

PEE BS For.



Errol Morgan
Johnson, 60

Williams assisted by Minister Mario
Williams. Interment in Woodlawn
Gardens, Soldier Road.



: = Johnson; four daughters, Marcia,
Morganna, Morshanna and. Mordonna Johnson; one son, Morgan; one
grandchild, Philip Moncur; two stepchildren, Frank Ellis and Tiffany
Adderley; adopted children (Chuck) and Micheala Smith, (Derry) and
Darlene Smith and Santerrio Johnson; two brothers, Arthur and Prince
Johnson; two sisters, Joyce Reid and Shirley Ferguson; two aunts, Daisy
Johnson and Frances Gaitor; mother-in-law, Virginia Curry; seven
brothers-in-law, Philip Ferguson, Basil Rolle, Delsworth Neely, Jeff
Hall, HMP. Cpl. Andre' and Dr. Dario Curry and Gilbert Paul; five
sisters-in-law, Edna and Gwen Johnson, Edna Rolle, Gloria Neely and

Turnquest, Stephanie and Nelson Cartwright, Ruthmae and Irwin Bain,

Rolle, Bernadette Brennan, Fiona Richards, Natasha Cartwright, Debbie
Mills, Philippa Ramsey, Tammy Turnquest, Merlene, Donna, Linda,

Ferguson, Hubert, Joey, Jeffrey, Perry, Kevin Ricardo, Colin, Peter,
Darron and HMP. Cpl. Dennis Johnson, HMP Deacon Kendal Rolle,
Khantio Sturrup, Quinten and Patricia Rolle.

McCartney and family, Mandy Mackey and family, Bryan, Susan,

Bannister family, Tony McPhee, Rubert (Sexy) Miller, Portia Scott,

i : family, Eulamae Rolle, Anna Maud McPhee, Janet, Helen and Melvin
: Cooper, Alfred Bullard, the tenants, staff members and students of C.H.
: Reeves and R.M. Bailey Schools, Claridge Primary Grade 3 Dorsette,
: St. George's Pre-School, the entire Bannerman. Town community,
: International Mason and Order of Eastern Star expecially Essie Chapter

of Robinson Road will be held on : 29, The Five Pound Lot family, Male Medical #1 especially Nurse

Saturday at 2:30 p.m. at Church of : Saunders, Jerry's Diner staff, Montell Heights family and a host of other

God Auditorium, Joe Farrington Road. : relatives and friends.

Officiating will be Rev. Dr. Kennedy i

The body will repose at Kurtiss Memorial Mortuary, Robinson Road

: and Fifth Street on Friday from 12:00 noon until 6:00 p.m., on Saturday

: from 10:00 a.m. until 1:00 p.m. and at the church from 1:30 p.m. until
? service time.

He is survived by his wife, Stephanie

Mizpah Hall; nieces and nephews, Karen and Patrick Sturrup, Karen :

Terry Romer, Jackie Reid, Andrea Culmer, Charmine Major, Janice }



| Tasha, Princess, Leona and Cheakita Johnson, Crystal and Christian :

nieces: Deaconess Faireliene Carey, Deaconess Muriel Thompson,
: Earlimae Taylor, Dora Hepbburn, Crystal, Audra and Daphne Glinton,
i Nadine Lubien, Antoniette and Karen; 12 nephews; Joshua, Abraham,

. . = : é ‘ i Oscar, Gordon, Dennis, John, Kevin, Craig, Robert, Lancelot and Audrey
Other relatives and friends including Bishop Alfred H. K. Cooper and ? Green and Junior Lubien; 1 sister-in-law: Pancy Moxey; host of other
family, Brenda and Bert McKinney and family, Carolyn Levarity and ¢ yeJatives and friends including Deputy Prime Minister Cynthia Pratt,

family, Lem and Stephanie Mackey and family, Huden Mackey, Sherlyn : Minister Jeffrey Carey, Pastor Michael Thompson, Anthony Taylor,

: ? Minister Ralph Hepburn, Sylvia and Donnamae Green, Maggie Callahan,
Sandra, Daphane and Wesley Mackey, Ena and Tom McKinney and } Dorothy Green, Annamae Rolle, Pastor George Clarke, Euthal Moxey,
family, Gladwin and Alice Gray and family, Mildred Cooper, Prince : Joel Moxey, Lundy Moxey, Augusta Davis, Shirley Clarke, Emily
and Zilpha Mackey and family, Patricia Bethel and family, Delvan and i Cunningham, Sonny Sturrup, Winston Sturrup, Randolph Rolle, Allan,
Monique Ferguson and family, Pastor Mallory Lightbourne and family, Fred, Nelson, Roy, Leo, Cleo, Dorothy and Brassie Moxey, Edna Cooper,
Eartha Arnold and family, Roslyn Collie and family, Antionette and i peacon Moody Moxey, Wilton Moxey and Sister David Mary
Anthony Pratt and family, Terez Curry and family, Cindy Smith and :

family, Patsy Gibson and family, Margaret Thurston, Rev. Enoch Mackey, i The body will repose at Kurtiss Memorial Mortuary, Robinson Road

Firstina McPhee, Holman McPhee, Cecil Williams and family, Pastor } and Fifth Street on Thursday from 2:00pm until 6:00pm and at the

Rufus and Barbara Johnson and family, Cedric Johnson and family, M.P. : gravesite in Mangrove Cay Andros on Friday from 10:30am until service

Glenys Hanna-Martin and family, Dr. Vienna Clarke and family, Stephanie 2 4, @:
Dean and D'Essence Beauty Spot, Sensi Ulrick McKinney and Bahamas :

Karate School, Yodephy Dance School, Shirley Johnson and family, the i

| Charles and Eleanor Rolle and family, Rudolph-and Shirley King and



























Eldridge Moxey, 72

of Little Harbour, Mangrove Cay,
Andros will be held on Friday at
11:00am at the gravesite of The Public
Cemetery, Mangrove Cay Andros.
Officiating will be Pastor Rufus Green
assisted by Sister David Mary.

He is survived by one brother: Minister
Wilmore Moxey; three sisters; Rev.
Doreka Green, Rhodamae Green and
Ceola Moxey; one uncle: Leonard
Moxey; 1 aunt: Pearl Moxey; 10























PAGE 8, THURSDAY,.MAY. 11, 2006 _, THE TRIBUNE OBITUARIES



m7 ~~ ~~ ;

Rurtiss Memorial Mortuary]

Chapel, Ramsey, Exuma - Tel: 345-7020¢ Robinson Rd & 5th Street
Tel: 325-6621/322-4969 * 24 Hour Paging Service 323-9761

Last Rites a !

Bloneva "Shunk"
Percentie Cleare, 63

of Hatchet Bay, Eleuthera: and
formerly of Harbour Island will be
held on Saturday at 11:00am at St. | ;
Stephen's Baptist Church, Hatchet | ,
Bay. Officiating will be Rev. Lambert | :
Farrington, Rev. Eric Johnson and | i
other Minister. Interment will be in | |
Big Yard Cemetery, Hatchet Bay

Eleuthera. :

She is survived by her husband of 22

years Harold; Four daughters Dedrie
Smith, Faith Johnson, Tina Darville, Tarra Desiar; Three sons Preston
Evans, Richard Cleare and Johnny Cleare. One adopted daughter Betty
Farrington. One step daughter: Kimberley Seymour. Grandchildren:
Kendrick, Deangelo, Gino, Gary Jr. Smith, Kendal, Waynette , Orachio,
Tony,. Tino, Shadera, Donte, Allison, Junior, Anthony, Madlyn,
Nomineka, Richard, Jr., Carlan, Chyanna, Johneico, Jada. Great great
grands Kenrick Jr., Kenny Jr. Sons-in-law Gary Smith, Jimmy Johnson,
Donameche Darville, Rodnell Desiar, One Daughter-in-law Abigail,
five brothers-in-law Cedric Cleare, Collins Roberts, Bradford Dames,
Clee Cleare, Edward Holmes & Joel Mcphee. Sisters-in-law Helena
Pinder, Wanda Roberts, Paula, Rosemary & Roslyn Cleare, Brenda,
Lavaughn & Katherine Percentie. Five aunts Olga Higgs, Ruby, Mary
& Eugenia Percentie, Katherine Carlile, One uncle, Anthony Percentie.
Step mother Jacqueline Percentie. Five sisters Rosalie McPhee, Dr.-
Naomi Fowler, Bronell Percentie, Lydia Durham & Gwendolyn
Holmes. Two adopted sister, Cheryl & Patsy Johnson, Nine brothers
Williams Johnson, Jackswell, Wesley, Victor, Richard, Maurice,
William & Lionel Percentie, & Kevin. Neices & Nephews, Kyle
Percentie, Adell Headley, Clement Fowler, Latoya,-Ashley-Ann &
Harry Jr. Durham, Brendan, Brittany & Shaquille, Ernest, Shayne,
Avery & Steven, Monique, Jackswell Jr. Cindy Venessa, Gwenique,
Georgetta, Wesley, Jr, Westra,Cadaro, Bermae, Simone, Richette,
Chanella, Garvin, Jacklyn, Jannette, Garvin, Maurice, Jr., Shandria &
Keisha Johnson. Cousins, Edith Cleare, Emily Saunders, Neville .
Major, Frank Nixon, Shiela, Daphne, Sherry, Carol, Cindy, Maria,
Winifred, Flossie, Rosalyn, Anne, Gleana, Dallie, Marylee, Cathy,
Bernice, Pamela, Valarie, Nancy, Karen, Juanita, Eloise Knowles, Ena
Sawyer, Latasha Donald, Troy, Courtney, Newell, John, Steven, Elliot,
Ran, Harry, Dukie, Altemas, Paul, Tony, Raymond, Sammie, Peter,
Humphrey Jr. Dr. Lea, Elvis, Ryland, Floyd and Garland. Other Friends |
include Renne Carlile, Lois Wyatte, Chris Carlile, Edith Hanna &
Family, Rosalie Johnson & family, Shirleymae Bethel & family, Susan
Hanna & family, Prescola Fox & family, Bernadette Brown & family
Judith Roker & family, Lonnie Rolle & family, Mrs. Kayla Bodie &
family, Margo, Derick, Joy, Kera, Jamaal & Clifton Isaacs, Rosemary
Outten & family Dorothy Bethel & family, St. Stephens Baptist Church
family, the Nurses of Hatchet Bay Clinic, Ethelyn Anthony & family,
Renae Moxey & family, Doctors & Nurses of Princess Margaret
Hospital. The entire community of Hatchet Bay, the entire community
of Harbour island.

The body will repose at Kurtiss Memorial Mortuaty, Robinson Road
and Fifth street on Thursday from 2:00pm until 6:00p, Friday from
10:00am until 1:00pm and at the church in Harbour Island on Saturday
from 8:00am until service time.





THE TRIBUNE OBITUARIES

THURSDAY, MAY 11, 2006, PAGE 9

Ae Sinclair Higgs LF.D.

sident/Managing Director

Tere SOT anes FOR

LIONEL L
SAUNDERS, 57 ©

a resident of Crawford Street,

Oakes Field will be held on on :
Saturday, May 13, 2006 at 1:00 ;
p.m. at Sure Word Bible 2

Ministries, Lincoln Boulevard.

Officiating will be Bishop |
Lionel Rolle, Bishop Kendall |.
Swain assisted by Pastor |
Winston Duncanson and Pastor :
Keith Russell. Interment will |

follow in Woodlawn Garden, Soldier Road.

Service has been entrusted to Gateway Memorial Funeral :

Chapel #27 Mount Royal Avenue and Kenwood Street.

Cherished memory held by his wife, Theresa Saunders; |
five children, Juliann, Phillip, Rodger, Larren Saunders |
and Samantha Dolce; two adopted children, Matthew and |
Jackie; three sisters, Loletha Saunders Carroll, Margaret |

Saunders and Linda (Pat) Armbrister; five brothers, Leo,
- Isaac, Charles, Anthony Saunders and Carl Armbrister;

father-in-law, Nathaniel McPhee; ten grandchildren, Julian,
Jade, Vanessa, Valentino, Anaya, Adrian, Amanda,

Matniece, Desha and Angel; daughter-in-law, Dolce; 11
. aunts, Gloria, Sylvia, Olga, Susan, Birdie, Hazel Adderley, |
Shirley, Naomi, Agnes, Jennymae and Maryann; seven |

uncles, Daniel, Amos, Rev. Dr. Sammy Saunders, John,

Archy, Hermis Adderley and Leroy Glass; nieces and :

nephews, Winky, Tinkea, Golden, Silver, Jasmine,
Sapphire, Nathan, Treasure, Karl, Michael, Marcus, Davia,
Dave Jr.,

| of other relatives and friends.

Davina, Shane, Tyrone, Andrew and Paul
| Adderley, Monique, Wendy, Felisha, Cherly and Kenyarda |
| Saunders, 42 grandnieces, 20 grandnephews and a host |

_ Friends may pay their last respect at the funeral home on
Friday from 10:00 a.m. to 6:00 p.m. and on Saturday from
9:00 a.m. to 11:30 a.m.. and from 12:00 noon to service
time at the church.

GWENDOLYN
SMITH, 74

a resident of Balfour Avenue
and formerly of Mason's Bay,
Acklins will be held on
Saturday, May 13, 2006 at 1:00
p.m. at Mount Horeb Baptist
Church, Sandyport. Officiating
will be Rev. Dr. Lloyd Smith.
Interment will follow in
Ebenezer Cemetery.

Service has been entrusted to Gateway Memorial Funeral
Chapel #27 Mount Royal Avenue and Kenwood Street.

Cherished memory held by her four sons, Alfred, Lindred,
Leon Smith and Bolvin Rolle; six daughters, Lusanne
McIntosh, Virginia Smith, Eunice Morley, Francis
Cartwright, Ira Smith and Patrice Cartwright; one
stepdaughter, Patsy Smith; two sisters, Patricia
Cunningham and Artis Taylor; one uncle, Claygon Taylor
of Acklins; three daughters-in-law, Veronica, Gwendolyn
and Nakita Smith; three sons-in-law, Alexander McIntosh,
Thomas and Emiel Cartwright; 43 grandchildren; eight
nieces, three nephews and a host of other relatives and
friends including St. Phillips Anglican Church family in
Mathew Town, Inagua, the Balfour Avenue family and
Mount Horeb Baptist Church family.

Friends may pay their last respects at the funeral home
on Friday from 10:00 a.m. to 6:00 p.m. and on Saturday
from 9:00 a.m. to 11:30 a.m. and from 12:00 noon to
service time at the church.





PAGE 10, THURSDAY,;MAY 14;2006

Cedar Crest Funeral Home

DIGNITY INSERVICE _ :
Robinson Road and First Street ¢ P.O.Box N-603 ¢ Nassau, N.P., Bahamas
Telephone: 1-242-325-5168/328-1944/393-1352

_ FUNERAL aaa

HENRIETTA
GREEN, 55










a resident of India Drive,
and formerly of. Little |
Harbour, Mangrove Cay,
Andros, will be held 11am,
Saturday, 13th May, 2006
at Pentecostal Temple
Church of God in Christ
#95 Pinedale. Officiating

~ will be Pastor Ishmael
Grant and other ministers of the Gospels. Interment
will be made in the Southern Cemetery Spikenard and
Cowpen Road.































Cherished memories are held by her mother; Joycelyn
Cargill; three sons; Brightman Moxey, Samuel and
Dwight Green; five daughters, Martha Russell, Mary,
Helen, Catherine and Ramona Moxey; two grandsons;
including Hugo Paige; three grand daughters: Tamika
Rolle, Shalaya and Brandi Paige; one bother: Alex
Green; one sister: Lulamae Strachan; five uncles: John
and Rev. Prince Cargill, Adolphus, Wellington "Duke"
and Philip Green; nine aunts; Virginia Newton, Harriet
Coakley, Catherine Minnis, Pearline Russell, Charlotte
Mckenzie, Ethel Miller, Shirley Gardiner, Isadara Mizell
and Georgina Pennerman; one brother-in-law: Albert
Strachan: one sister-in-law: Verdie Green; nephews
including Alexander Green, Jr, Isaiah and Albert J
Strachan; nieces including Patrice, loretta and Marlinda
Strachan, Sherene Riley, Tarmaine and Valentina Green
and cousins; a host of other relatives and friends
including Malinda Newbold, Joann Clarke, Lillian,
Patsy, Evelyn, Joycelyn and Ann Green; Gloria and
Joycelyn Moxey, Shirley Clarke, Ricardo, Stephen and
Tamara Pennerman.



Relatives and Friends may pay their respects at Cedar
Crest Funeral Home, Robinson Road and First Street
on Friday from 12 noon.to 6:00p.m, and at the church
on Saturday from 9:30a.m until service time.



THE TRIBUNE OBEUARIES

Fy Abbot Dr.

~ Colin Tatem osc

was horn June 25, 1942 in
the Turks and Caicos Islands
to the late Helen Annie
Russell and A. Arthur
Morgan Tatem. He spent
his earlier years in the
Bahamas where he reared |
two sons: Colin Jr. and

- Christopher Tatem. He

later moved to Newark, NJ

where he married ba
See Tatem. From this union his daughter Ashley Tatem was
orn. :

Colin was a Priest, world renowned Journalist, Sales and Marketi:
Executive, member of the Rotary as well as a Lecturer. A cdiumitiod
Scholar, he received his education from London University, St. John's
College, The Institute of Marketing in the UK, Michigan State
University and Florida State University. He later received an ‘denon
Doctorate in Theology form the Compton-Caputo College in Engla:

During his early years in the Bahamas Colin served as Customs Officer,

_ Royal Bahamas Police Reservist, Ships Agent and Customs Broker.

He then became a Photographer, Journalist and Editor for the Tribune,
Freeport News and Nassau Guardian. During this time he published
Ordeal at Sea, a book of short stories. Colin then served as Marketing
and Sales Director for Princess Hotels where he met his wife Gwendolyn
and would later begin a life with her in the United States. He later
returned to the Bahamas for a short while where he contributed to the
Bahama Journal with a byline column entitled “Everyday Heroes’
While in the US, Colin served as Sales and Marketing Director of
the Sheraton, as Membership Development Agent for the Chamber of
Commerce and was an Adjunct Professor at Essex County College.
Later in his life Colin became highly spiritual, serving as Lay Minister.
at Trinity and St. Philips Cathedral. It was there that he founded the .
Cathedral Resource Partnership, where he became a rousing speaker for
the Newark School System and Mentor to many young men in the
Community. Eo
Colin later founded the Order of Saint Cornelius, a Religious and
Chivalric Order. The Order has grown over the years, now having
hundreds of members from all around the world. During this time Colin
became an Officer of several British and international confraternal
organizations and was knighted numerous times, most recently by Prince
Estafanos Menegasha Halie Selassie. For Colin these were his most
cherished accolades. ;
Though Colin's a was filled with immense rafessonal
accomplishments, what he was most proud of was his family who resides
in New Jersey, Pennsylvania, the Bahamas and Jamaica. He leaves a

__ wife Gwendolyn, two sons Colin Jv. and Christopher, a daughter Ashley,

a granddaughter Samantha, a daughter-in-law Jeanette: brothers,
Anthony McArthur Tatem, Larry Russell, Dr. L. Barry Russell,
Lynden Russell and Anthony Robinson (adopted); and sisters Beverly
Lockhart, Barbara Mullings, Brenda Russell and Margaret Tatem-
Gilbert. He also leaves a host of other family and close friends.

Colin was given eternal life on Saturday March 11, 2006 at East
Orange General Hospital. He will be sorely missed by all who love him.
Though he is not here in the flesh he will surely live on in the hearts and
minds of all those who he touched so deeply during his years here, as well
as through his abundance of published works. May the Lord keep and

__ protect him.



THE TRIBUNE: OBITBARIES













Foultin Melvern
Walker, 20




formerly of Holmes Rock
Grand Bahama, will be held
on Saturday May 13, 2006
at 10am at The New Mt.
Olivet Baptist Church,
Holmes Rock, Grand
Bahama Officiating will be
Rev. Dr. John C. Wallace,
J.P. assisted by Rev. Rodney
Kelly Jr. Interment will follow in the Harbour West
Cemetery.

He is survived by his Mother, Elverna Rolle, his
father & step mother Austin & Gia Walker his grand
father. Wesley Rolle, his grand mother Dorathy Walker,
two sisters, Lawanda Rolle & Tamara Butler two
brothers Darryl and Darrin Butler, nine aunts; Shatel
Jones, Edna Rolle, Sonia Rolle, Cynthia Sanads,

Ann Knowles; Eight Aunts in Law Paulette Stuart,
Inez Martin, Priscilla Pinder, Joy Lillian, Carolyn
and Patricia Rolle, Mavis and Rochel Rolle; Two
Grand Aunts in Law Linda & Stephanie Pinder Nine
Uncles John L Rolle (Lundy) Harvard Rolle Jr.
Johanzel Stuart (Joe), Lionel Pinder, Raymond Martin,
Franklyn Martin, Arthur "Skippy" Rolle, Earl "Coco"

Rolle, Albert & Donald Pinder, numerous other
relatives and friends.

Family will receive Friends at Russell's & Pinder's
funeral Home on Friday May 12, 2006 from 12:00
noon to 7:00 pm and on Saturday from 8:30am to
Service time at the church. -

RUSSELL & PINDER’S FUNERAL HOME

Eight Mile Rock, Grand Bahama -
Telephone: (242) 348- 2340/348- 2131/352-9398/353-7250
~ PO. Box F-40557 - Freeport, Grand Bahamas

FUNERAL SERVICES FOR

Ludell Stuart, Rosa Martin, Beverly Sands, Kim and

and Rusty Rolle, Two Uncles in Law; Haratio Sturat
& Vivian Sands; Four Grand Uncles Gordon & John

THURSDAY, “MAY 1, “2006, PAGE 11



| Deonte Turek Cedrick




























will be held at 10:00am on
Saturday May 13, 2006 at
Abaco Youth Ministries
Dundas Town Abaco;
Officiating will be Pastor
Emmit Archer, assisted by
Ministers Milded Ferguson
and. Elanor Darville;
interment will follow in the
Public Cemetery, Dundas Town.











He is survived by his mother, Cedricka Davis, his
father Deon Pugh, one brother Deon Albury, grand
parents Prescola and Inglis Penn & Janet & Cedric
Davis and Remilda Walkes. Eight Aunts Olivia Davis,
Pandora Greene of Freeport, Natasha Tood, Wilsha
Knowles, Keyshan and Breama, Kira Pugh, Shascar
of Nassau; Nine Uncles Jabah, Cedric, Cieon Davis;
Perez & Phillio Greene of Freeport and Jermaine
Todd, Andre Price, Deno, Ashley Moss and Ricardo
of Nassau. Grand Aunts Kenya, Veronica & April
Penn, Paulette Dean, Judy Robinson, of Nassau, Alma
of New York, Latoya, Shaniquia, Lakeisha, Landa,
and Toya, Ruby Brown, Margaret Debora and Sophia
Davis; Grand Uncles Aluio, Shean, Sabastian and
Fabian Penn, Anythony Davis and Johnathan Penn.
Numerous other relatives and friends.

Family will receive friends on Friday May 12, 2006;
from 4:00pm to 8:00pm at the Church and on Saturday
from 9:00am to Service.





PAGE 12, THURSDAY, MAY 141, 2006

Co. Ltd., The Bahamas "Taxi

Taxi Cab Union Association c

of the Ministry of Tourism, staff an
staff of The Royal Bank of Canad

Hon. Conte Pratt, Tanya MeCartiey
and the staff of the CDU Department, Bishop
Gates Assembly, Bahamas Festivals St.
Brothers Morticians, Lake
and fi rien too r numerous



PATRICIA
COLE-COZZI

died in Dorchester England on 8th
April, 2006. The service will be held
at St. Anselm's Catholic Church,
Bernard Road, Firday, 12th May,
2006 at 6:30pm. Monsignor Preston
Moss will officiate. She is survived
by her husband, six children of
England and Australia, eight grand
children, one sister, Elizabeth Cole,
a nephew, Arnold Shepard and other
relatives and friends.





THE TRIBUNE-OBITUARIES -- . THURSDAY, MAY 11, 2006, PAGE 13

wd Cio m Yimiled

{
}









FREEPORT Shee i NASSAU

{

| ; 11-A East Coral Road, P.O. Box F-42312 - { Robinson and Soldier Roads, Nassau, N.P., Bahamas

‘ : Freeport, Grand Bahama, Bahamas i P.O. Box CB-12072 4
Tel: (242) a7e art Fee (242) 373-3005 . i Telephone: (242) 394-8043 / (242) 394-8047

age -8043 i

\ :



Pagers: 340-8043 / 340-4424 / 340-8034 ° Fax: (242) 340-8034

SHERYL Ghee
MARTIN, 38

of Queen's Cove, Freeport, Grand Bahama
will be held on Saturday, May 13, 2006 at
10:30 a.m. at St. John's Native Baptist Church,
Coral Road, Freeport, Grand Bahama.
Officiating will be Pastor Sidney Collie,
assisted by Pastor Laquita Collie. Interment
will follow at The Grand Bahama Memorial
Park, Freeport, Grand Bahama..





MR. GABRIEL
DOLCE, 45



4










of Weddel and Frobisher Drive, Freeport,
Grand Bahama, and formerly of Haiti, died
at his residence on Tuesday, May 9, 2006.




























Funeral arrangements will be announced at
a later date.





Left to cherish her memory. are her friend,
Kendal Hinsey; four daughters, Suzette and
Sherise Edden, Deneika and Sherenika Strachan; two sons, Arlington and
Wenchenslow Martin; two sisters, Clemencia Thompson and Sandra Rolle;
three brothers, Felix and Keith Dixon and Elvis Martin; two brothers-in-law,
Erskine Thompson and Wilfred Rolle; three sisters-in-law, Vanria, Nicole
Dixon and Marguerita Martin; one uncle, Gerald Higgs, numerous nieces and
‘nephews including Shantel, Carl; Crystal, Omar, James, Latisha, Vandesia,
Natasha, Tanya, Tameka, Marco, Alexis, Deandra, Aniska, Alexandria, Jeffrey
Jr., Latavia and Shantavia; grandchild, Argenique; seven grand nieces and
nephews including Charencia, Keshawn, Arrianna, Oniel, Quintina and Terre];
a host of close family and friends including Mr. and Mrs. Cooper, especially
Niecey, Alicia, Sintra, Patrice, Janice, Mr. and Mrs. Kelly, Gina, Carol, Cindy
(cousin), Pastor Collie and family, Obbie, Janice, Rev. Rudolph Roberts,
Agnes, Orlean, Freda, Cathy, Tina, Lean and Sandra.









MASTER LICSON
JOSAPHAT, 10

a \ resident of Lewis Yard, Grand Bahama, died
on Sunday, May 7, 2006.






































He is survived by his mother, Lavanie Joseph;
father, Delicieu Josaphat; stepmothers, Danicla
Cuseus and Lusane Pierre; brothers, Macmer,
Elifet, Genson, Elicieu, Walgins, Benedick
and Eskinley Josaphat; sisters, Lavita, Widline
and Anestesha Josaphat; grandmother,
Anestecha Josaphat; aunts, Marie, Luciene

and Madelene Josaphat; uncles, Seldieu and
‘William Joseph; cousins, Alphonise Augustin, Mackenson, Francis, Wilfrid,
Wilner, Ronie, Enock, Elrick, Roselene, Rosenie, Malene, Adline, Moesha,
Edithe and Odinie Joseph and a host of other relatives and friends.



Viewing will be held in the "Irenic Suite" of Restview Memorial Mortuary
and Crematorium Limited, 11-A East Coral Road, Freeport, Grand Bahama
on Friday from 10:00 a.m. to 6:00 pe m. and on Saturday at the church from
9:00 a.m. until service time.

DEATH ANNOUNCEMENTS

’ Funeral arrangements will be announced at a later date.



MS. BEVERLEY
KEMP-GREENE, 59

of West End, Grand Bahama, formerly of
Nassau, Bahamas, died at her residence on
Monday, May 8, 2006

| MR. ROY GORDON
BEALES, 60

/ of Pelican Point, East End, Grand Bahama,
i died at the Princess Margaret Hospital on
Sunday, May 7, 2006.

She is survived by four sons, Delbert and Keith
| Wedderburn and Cecil and Tino Greene; two
daughters, Antionette Wedderburn-Joseph and
Karen Kemp; 17 grandchildren; three great
grandchildren; two brothers, James and Berkley
Kemp; three sisters, Betty Kemp, Karen Smith
and Zilpha Peterson; numerous nieces and.
nephews and a host of other relatives and friends.

He is survived by his wife, Clarice Beales;
two sons, Jonathan and Kevin Beales; two
stepsons, Antonio and Justin; three step-
daughters, Alysia, Shearsia and Molisha and
a host of other relatives and friends.



Funeral arrangements will be announced at a later date. Funeral arrangements will be announced at a later date.





PAGE 14, THURSDAY, MAY 11, 2006





Jennifer “Jenny"
Rolle, 33











Saturday at 11:00 a.m.








by other

Proxy and Valretta Rolle; uncles, Lloyd, Johnson,

Marco, Nicola, Jasmine, Jehu, O'neil, Hakeem, Jamaal :

| Demeritte’s Funeral Home

BAHAMAS’ OLDEST MORTUARY
MARKET STREET e P.O. BOX GT-2097 ¢ TEL: 323-5782

NGS ele

Demetrius, Anishka Brown, Shaniqua Armbrister, Donnell
Daxon, Anthony Moss, Gary Moss, Sharry Moss,
Christine Cummings, Sherry, Lemuel, Donna, Alex,

: Christopher Lewis, Paulamae and Alexander Bain, Paul
a resident of Faith Avenue, Ferguson, Pauline Ferguson, Patricia Ferguson,
| will be held at New Hope) .aohine, Bill, Caroline, Bertha, Ellen, Vonique Bowleg,
Misslonety opus nuren, Special friends, Johnny Bullard, Anqunique Pinder,
New. Hope Drive, on : Andrewnique Simms, Yvonne Larose, Ruth Ferguson,

ae pe | Ada Wallace, Joan Ferguson, Dena Burnside, Terrance
Officiating a oe ne: Duncombe, Joanna Brown, Yoletie Charles, Sydney
j Elmone A. King, assisted Munnings,James Rolle, James Davis, Eddie Mackey,
MUST OES: Cecil Austin, Wayne Grazette, Monique Sands, Carra
interment follows in Woodlawn Gardens, Soldier Road. Saunders, Barron Moss, Jennifer Hepburn, Jimmy

; r “| Vercina, Chef Eddison Lightbourne, Chef Jason Wallace,
Left to cherish her memories are, her daughter, Deandra :

Se SOU dle ee Se Andieu Duplans, Kendrick Knowles, Sandra McKenzie,
ans Te e ee oe ee ee a Ee f Mario Hudson, Eileen Mortimer, Beulah Murphy, Joyce -
eee ang cae ; OIE SISlOls: arn OME Iee : Petty, Donanvon Sands, Pamela Rahming, Management
Armbrister, Patricia Rolle; brothers-in-law, Cordell :

Annbrister, Stephen Glinton; sisters-in-law, Lerlean, and Security Staff, Management and Staff of Raddison

L Neo. Levicand Randol Bolle cdwixe 2 Beach Hotel, Laura Glinton and Family, Agnes Sands
oe es eee c = ae es nik Ce and Family, Josephine McKinney and Family, Laverne
BUMS Va eG SOU sotel wes Pecos : McKinney and Family, Martha Rolle and Family,

Grace Ferguson; Grand-uncle, David Ferguson; nephews |

and nieces, Gary Grant Jr, Chauncey Bowls Corlisa, 2 Patricia "Cush" Williams, Felicia Taylor, Sonia Thompson,
Nikita, Cordell, Cordesha, Aaliyah, Levanti, Omari, |

Pecnae: nVbUStobo Melises; > tepnanie, Stephen a | Faith Avenue Subdivision, Bahamas Hotel Catering and

; : «Allied Workers Union staff and members, Workers House,
Glinton, Chiara and Leevan Johnson, Lorna and Noel :

Pratt, Jason, Deidree, Delice, Dixie Rolle, 9 great Family.
nephews and great nieces, numerous relative and |

friends, Carmetta Brown, Vincent Rolle, Ivan Kelly, ; _. a iee oe
. : Friends may pay their last respects at Demeritte's Funeral
Rudolph McSweeny, Peggie, Antoinette and Frank Moss, : : aia
: Home, Market Street, from 10-6:00 p.m. on Friday and
Barbara Brown, Craig and Nicole Lewis, Francis and : ;
. zs : on Saturday at the church from 10:00 a.m. until service
Pamela Sullivan, Perry Smith, Patricia Armbrister, : fine :

Sandokan Dean, Natasia Cartwright, Michelle Duncombe, :

Lance, Darius, Erin Kelly, France, Felicia Moss,

THE TRIBUNE OBITUARIES
















































Nicole Jones, Estermae Evans, Alexander Williams,

and Staff of Nassau Beach Hotel, especially Kitchen

Gwendolyn Davis, Georgette Scavella and Family,

Shane (Bain Town), Debbie Ferguson, Community of

Bain Town, Yellow Elder Gardens and Coconut Grove





THE. TRIBUNE-OBITUARIES







Karen Jestina
Williams, 27



will





St Gerard.





| Left to cherish her memories are her son, Tristin; daughter, 3
Chloe; grandmother, Hazel Ellis; step mothers, Gina Baptiste :
| and Pastor Sharon Nairn; 7 brothers, Bruno Brown, Antoine :

| Dean, Jonathan and Ishmael Williams of Andros, Bernard,
; Dean, Christian Nairn, Pearline Anderson, Viana, Cheryl,

Rolle; 9 uncles, Brandford Wallace, Croston, Kendal and

aunts, Mary Wallace, Hazel Ellis, Earline Ellis, Veronica
| Newry and Birdimae Williams; 13 nieces, Shanuovia, Oriel,
| Jennifer, Jessica, Jestina, Candice, Tracey, Santece, Kaylisa,
| Monique, Sharelle, Darvonia and Tordanae; 8 nephews,
Wilbert, Chavez, Bruno Jr., Lynden, Terell, Kavon, Derran,
Jeffrey and Antonio; cousins, Lary, Danny, Henry, Bradamae,
Nicole, Shaneeka, Rashad, Bradford, Shavado, Latonya,
-Sharmarco, Keith, Crystal, Heather, Cherokee, Shannon,

Jr., Crofton Jr., Henzel Jr., Kendal Jr., Dario, Kino, Kevin,
{| Guonimo, Niki, Shawn, A.J., Elder Anthony Nairn, Wanda
| Nairn, Cheryl, Turnquest, Lashada, Minister Patrick Nairn,
| Cyclair, Rico, Shawnti, Javargo, Danielle, Gavrielle, Nikita,
Henry Jr., Shavanti, Lynden, Lynden, Leon Jr., Bradeshia,
' Banae and Wondeisha; a host of other relatives and friends
| including, Mr. and Mrs. Wendel Pratt, Mr. and Mrs. Anderson
| and family, Minister Claude St. Gerard, Pastor G.E. Major,
| Vanda Fox, Madge, Blanch, Claudette James, Tadie Mitchell,
Jeffrey, Trevor, Odessa, Nick, Samantha and Jermaine all
| of Miami, Florida, the Porter family, the Forbes, Symonette,



| Bemeritte’ s Huneral Home

BAHAMAS’ OLDEST MORTUARY
MARKET STREET ¢ P.O. BOX GT-2097 ° TEL: 323-5782

Basses aa esaels
, the Saxon Super Stars family and the entire McCollough
Corner family.

a resident of McCollough Corner, |
be heid at Evangelic | |
Assembly, Blue Hi!l Road and |
Fleming Street, on Saturday at :
10:30 am. Officiating will be Rev. :
Patrick Smith, assisted by Pastor | |
G E, Major and Minister Claude | |
interment follows in |
Woodlawn Gardens, Soldier Road. | |

.JHURSDAY, MAY 11,2006, PAGE 15














| Audrey "Shorty / Betress"
McQuay Butler, 65 |















_ a resident of McQuay Street, will
| be held at Bethel Baptist Church,
Meeting Street, on Saturday at
10:00 a.m. Officiating will be Pastor
Timothy Stewart, assisted by Other
Ministers. Interment follows in
Southern Cemetery, Cowpen and
Spikenard Roads.









Left to cherish his memories are her husband, Rudolph

Butler; daughters, Pauline Tucker, Janet Williams, and Latoya
Andre and Darren Williams; 7 sisters, Patricia Williams, Unell :

McQuay Williams; stepdaughter, Veronica Butler; mother,

Eunice McQuay; 3 sisters, Helen Demeritte, Minerva McQuay |
Pearline, Doreen and Diana Williams; specials friend, Renardo :

and Susan Freeman; 3 aunts, Mary Thurston, Remilda Jones

: and Francis Gaitor; 10 nieces, Agnes Walkine, Relinda
Henzel Ellis, Talmadge Newry, Rembrook and Abner Williams |
| of Port Howe, Cat Island, David Williams of Freeport, Grand :
Bahama and Simeon Williams of Fort Pierce, Florida; 5 :

Arnett, Annalee Hyler, Velthea Albury, Barbara Augusta,
Joan, DeAnn and Therese Demeritte, Antoinette and Tina
Freeman; 10 nephews, James King, Dave Adderley, Edwin,,.

: Leo, Christopher, Albert and Morris Demeritte, Dave Dean,
Michael and Tony Freeman; 2 sisters-in-law, Marina Dean
+ and Pamela McQuay; 1 brotherin-law, Roland Demeritte; 2
_ sons-in-law, Mark Bowe and Eugene Williams; grandchildren,
: Theofanis Hyler, Shanique Lightbourne, Dominique Fowler,
: Latori Clear, Jamie and Brandon Watkins, Anthonique and
: Stephon Bowe, Laquan McQuay, Vasti McQuay, Natelia
: Williams; great grand children, Philandria Bowe, Alicia Brown,
| Dellareese, Denise, Cindy, Shaqueena, Kentasha, Talmadge :

Felicia, Franis and Tahyanna Huyler, Taylor Sands; a host

: of other relatives and friends, Samantha Huyler, Williams
: family, Gaitor family, Bertha and family, James Neilly, James
: Watkins, lan Lightbourn, Roy Deal, Thompson family, Grants,
: Armbrister, Dean, and Brooks families, Bamboo Shack family,
' Focus Security Staff, UPS House Staff, Willamae Taylor and
: family, Marilyn Williams and family, Godfrey Fowler, Miriam
| Lightbourn and family, Norma Jones, Lightbourne, Kemps,
: Huyler and the entire (Harlem) McQuay Street family.

| Friends may pay their last respects at Demeritte's Funeral
? Home, Market Street, from 10-6:00 p.m. on Friday and on
| Rolle and Dixon families, Minister Latherio Reckley, Eddison °:
| Butler, Mary Rolle, the New Unity Fellowship Church family, :

Saturday at the churh from 9:00 a.m. until service time.



PAGE 16, THURSDAY, MAY 11, 2006

KEMP’S FUNERAL HOME LIMITED

22 Palmdale Avenue, Palmdale
Nassau, N.P., The Bahamas

COLYN PATRICK
BYLES, 54













of Freeport, Grand
Bahama, will be held at
St. Matthew's Anglican
Church, Shirley and
Church Streets, Nassau
on Saturday,13th May,
2006 at 11:00am. Rev. Dr.
James Moultrie, assisted
by Rev. Fr. and Don
Hayes will Officiate.
Cremation will follow. ae

His survivors include his wife Sandra, son, Jason;
father, K. Patrick Byles; sister, Michelle ‘White;
stepmother: Claudia Byles; stepsons: Scott, Devin
and Cristian Miller; grandsons: Jackson, Scott,
Sevin, Jacob, and Aiden Miller; grand daughters:
Scottia, Scindy and Tyler; uncle Alan Byles; aunt

| Margarita Byles; brothers-in-law: Dr. George White
and Jefferson Turnquest; sisters-in-law: Lorraine

| Turnquest; Step daughters-in-law: Melvern and

| Pamela Miller; Nieces Monique Morant Wade;
Carla Whittingnam and Debra White; nephews
Andre White, Gregg White, Robert Whittingham,
and Dr. Yusef Morant Wade; grand nieces and
grand nephews: Tristan White, Angelique White,
Jessica Whittingham and Brent Whittingham;
Cousins: David Byles of Miami, Florida; Ingrid
Byles of Miami, Florida, Debbie Byies-Bulzacchell
of Florida, Kemuel Fountain and wife Lynn, Dereck
Fountain and wife Shirley, Michael Fountain and
wife Rosie, Gregory Fountain, Brenda Knowles
and husband Patrick numerous other relatives
and friends, incuding Patricia Treco, Jim Berg
and Clover and P. Anthony White.

| The famiy request that donations be sent to St
Matthew's home for the aged, P.O. Box N963 In
memory of Colyn P. Byles.



» Sunday, April 30, 2006, will be held on

“THE TRIBUNE OBITUARIES



| Notification of F Funeral Service for |

Mr. Francis Patrick
Gibson Sr. 50,

of Market and Vesey Streets, who died
at the Princess Margaret Hospital, on| .

Saturday, May 13, 2006 at 1pm at St.]..
Francis Xavier Cathedral, West Hill
Street. Monsignor Preston Moss will
officiate and burial will be in the Catholic



Cemetery, Infant View Road.

The Radiance of this “Sardonyx of a Gem” will always glow
in the hearts of his: —~
Wife: Deborah L. Gibson;

| Two Sons: Francis Jr. and Patrico Gibson; |

Two Daughters: Latonya and Lakeich Gibson; |
Seven: Grandchildren;

Four Brothers: Anthony, Oliver, Garry and Elton Gibson:
Seven Sisters: Valgo Shannon, Lyn Curry, Valrea Sturrup,

Miriam Carey, Theresa Sands, Leomi and Constance Gibson;

| Two Uncles: Basil Cooper and Godfrey Major of Eleuthera;

Five Aunts: Marie Sands of Nassau, Mispah Thompson 2 and
Kurene Nottage of Tarpum Bay Eleuthera, Eunice Cooper and |
Ena Thompson of Palmetto Point Eleuthera;

i Nineteen: Nieces;

Twenty Nine: 1 Nephews:

Father-in-iaw: Wes Thompson;

Brothers-In-Law: Andrew Curry, Fred Sturrup, Godfrey Carey,
Michael Sands, Don and Wes Thompson;
Sisters-in-Law: Dakota Thompson, Elsa Glosler, Donna Moxey |
and Sharon Gibson;
Other Relatives Including: Lorraine, Garnet, Cyril, Mary, |
Lenora and Vanria Gibson; A
Friends Including: George and Mark Wilson, Pat Rolle, Denise }

Ali, Michael Kemp, Debbie Adderley, Ester Allen, the Musgrove }

and Bullard Families.

| The body will be viewed in the “Emerald Suite” Emeralix



wy G4. #20 Claridge |

4 ii Re aye a EN 5 PEMA eae iE, Oy PEN ar se
we a on Friday, May 12, 3006 from 12n0on to 6pm and on |

Saturday, May 13, 2006 from 10am to 11:30am and at St. Francis |

| Xavier Cathedr al, West Hill Street from 12n00n to service time.





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PAGE 18, THURSDAY, MAY 11, 2005, | . THE TRIBUNE

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|BBF #412
1998 Ford Taurus,
$4,000,

Call: 392-6795
or
544-0103










BBF #113
1999 GT 35 Anniversary,
fully loaded, flow masters 3" Ex pipes,
Steda Breader,
$7,500 ONO
Call: 328-3347






BBF #1
53FT 1981 COMMERCIAL FISHING BOAT
Solid Defender Hull, Eng 1271, Cruise 10 knots,
Generator, Compass, 2 freezers, stabilizers, Fish pots,
crawfish traps, 1 aia full galley sleeps 9 crew.

(MA
Call 4543191 /364-4067 oF 964-0868

BBF #115
1991 Chevy Corsica,
fully pwr, automatic,
$1500:00
Call: 394-5868

BBF #118
1996 Toyota Celica,
standard shift, A/C, CD,
fully pwr,
$5,500,
Call: 357-4027



BBF #142





2000 Ford Taurus,
blue, fully eee ue everything,

Call: 322- foi0 af 553-0243








BBF #124 .
2002 Chevy Impala, black, -

clean int. just like new, fully loaded, pwr locks,

automatic, $14,000 ONO, Just in from U.S. in
good condition, clean title, :

_ Call: 393-3311






Get Cash for
Trash,

“ recycle your
empty ink
cartridge,

HP, Lexmark, and
Dell,
$2 each,

Call: 434-2606
or
341-1465

BBF #140
Must See!
1996 Toyota Avante Chaser, pwr
everything, A/C, TV, tape, CD,
35, 800 ONO
Call: 328-6174

or
Page 340-6541
Must Sell!



BBF #141
1995 Infiniti Q45,
A/C, sunroof, good condition,
$4,900 ONO,
Call: 324-5552,
356-1643, or 427-9961







THURSDAY, MAY 11, 2006, PAGE 19

BBF #148



1996 HONDA CIVIC
EXCELLENT condition! Racing interior, 17
inch black rims with chrome lip & new tires,

coilovers, 2000OWATT sound system, alarm,
EURO lights, smoke headlights, tints,
mp3/wma player pioneer 5800 with12 graphic
display remote, racing indiglo dash with
controller, racing euro dash. 6500 OBO --
Tel: 3246922







; 1997 Honda Accord
Just in from U.S. excellent condition, leather ini.
pwr windows, sunroof, $6,500,

2000 Chevy Blazer $9,000, 2001
Hyundai Sonata G15 V6, $4,500,

Call: 457-2526









Â¥ Bene

ee

BBF #149
1996 Chevy Blazer,
A/C, CD, clean int.

$6,500
Call: day 359-0560 or night, 324-5869

1995 Nissan Sentra,
red, good running condition,
$2,000 OBO,
Call: day 393-5679 (leave message) or evening
364-4025 ask for Andrea

BBF #151
1front room set,
black leather,
$800,
Call: 361-5439

BBF #144
1991 Chevy Lumina,
2-dr, white ,
runs and drives,
Call: 364-8598













BBF #152
2002 Kia Optima SE,
pwr windows, doors, and seats, leather |
int. sunroof, silver, factory alarm,

BBF #145 excellent condition,
1999 Ford F-250, “$7,500 ONO,
runs and drives, Call: 424-8325

‘Call: 364-8598

BBF #147
1996 Toyota Camry,
tape deck, 16" alloy rims,
A/C, leather,
$4,800 ONO
Call: 422-0314 or 327-1660!

BBF #153






1995 Buick LeSabre,
fully pwr, alarm, remote start, A/C, CD,
sound system,

20" chrome rims,
$5,500 ONO,

Call: 556-2277 or 394-1356



PAGE 20, THURSDAY, MAY 114,

Canon Laser
Class
7000 Plan Paper
{ Fax machine,
asking
$5000 ONO,
to view call

326-1416
or
326-3819







iBBF #155
: 1994 Pajero,
: turbo diesel, only 50K miles, fully loaded, very
i clean, 2-dr, fuel efficient,

$9,999,,
Call: 457-4099

BBF #156
HAIR BRAIDING:
TWISTS: 350 - $60.00, SHINGLES: $40 - $70.00,
MIRCO- SHINGLES: $80 — 90.00, BRAIDS/
CORNROWS: $30 - $40.00,
Tel: 394-3423/ 302-2714

BBF #157
1996 VW Golf;
green, 5-spd, CD, A/C, standard shift, sunroof,
excellent condition, alarm,
$4,000 ONO,
Call: 356-6770

BBF #158
1995 Chevy Astro Van,
8 seats, A/C, custom tints, tan interior, am/fm
radio, fully powered, $6,000 ONO,
Call: 356-6770

2006

BBF #159
2000 Mitsubishi Montero Sport,
52K miles, excellent condition,
$9,000 ONO,
Call: 456-2048.

BBF #160
2003 Mini Cooper,
6-speed stick shift,
$23,000,
Call: 424-5468 or 5024360

BBF #162
1999 Honda Civic,
standard shift, A/C, pwr windows, locks, rims,
CD, $6,000 ONO,
Call: 484-4175 or 326-8

BBF #163
2005 H-100 Hyundai,
van 12 passenger, diesel, excellent condition,
$20,000 OBO,
2002 Nissan AD Wagon $8,500,
excellent condition, one owner,
Call: 422-4518

1997 Nissan Maxima,
$6,000,
98 Ford Escort, $4,800,
Call: 324-7266 or 525-4540

|BBF #166

Ford E-250 Cargo Van, .
Call: 436-9406 or 361-7016



BSF #158 .
2005 F-150, fully chrome,

24" rims, beeper alarm w/remote start, $3,000
full face DVD, audio balin sound system,
$60,00¢ OBO, located by Car wash next to
Courtesy Food Store Carmichael Rd.

Call: 565-4422 -

BBF #169
1994 extended Cab, black,
$4,500,
Call: 392-6795

BBF #170
1999 Ford F-150,
$9,500,
Call: 392-6795



BBF #176
Karat Cabinets,

Summer Special; kitchen complete with solid surface,
$6,999, solid wood cabinets, kitchen & bathrooms
entertainment center, crown molding & ceiling Interior

design & installation, Call: 636-9776

‘

BBF #172
1993 Nissan Maxima,
white, clean int. A/C, CD,
in excellent condition, $3,700,
Call: 565-3179

BBF #173
1994 $40 Volvo,
excellent condition, A/C, CD,
$4,000,
Call: 392-6795

BBF #174
Pure bred German Sheppard puppies,
had all her shots, $700, -
Call: 394-1509 or 328-8831



2002 Honda Civic,
green, fully pwr, CD, A/C, good condition, clean
int. beautiful car, $13,800, Call: 326-1430-1
9am-5pm- Mon-Fri,
or 422-4397 anytime

BBF #856
1995 Honda Accord,

JUST IN FROM JAPAN!! Lowest prices in Town,
warranty, License & Insp., starting @ $5,500,
We can special order any request,

Call: 323-1932










1 Soda Machine,
$800,

Cali:.362-2540
or
392-1969









BBF #178
580L Case trucker Backhoe,

$36,000
Call: 341-7562 or 341-7561 |

BBF #179 .

2000 Chevy Silverado,
sport side, V8, minor cosmetics,
$11, 000 OBO,

Call: 393-3176

2001 Honda Civic,
RHD, 26K miles, one owner, excellent
gas mileage, A/C, CD,
clean title, fully pwr,
$10,500.00
excellent condition,
Call: 557-2727



BBF #181
1999 GT 35 Anniversary,
fully loaded, flow masters 3" Ex pipes,
Steda Breader,
$7,500,
Call: 328-3347 .

BBF #182

BBF #183










1998 Monte Carlo,
extremely clean,
Call: 326-1106

1991 Toyota Celica, i
red, A/C, 15" chrome rims,-CD, standard shift, :
$3,500 OBO,
Call: 322-1718
Ask for Dave or 392-0085



BBF #184 ‘ ss
2000 Mitsubishi Lancer G1 c
in excellent condition, $6,000, 1996 Toyota
Camry, white, automatic, running, $2,509,
Call: 394-6933 or 565-3573

BBF #185
1997 Toyota Camry, XLE,
grey, clean title, pwr everything, keyless entry, A/C, tan
leather int. sunroof, clean in/out, original CD &

-~ cassette, am/fm, stereo system, must see to
appreciate, excellent condition, $7,200 obo,
Call:.324-7885 or 422-2935
ask for Ms. Gibson

BBF #186
1999 Nissan Altima,
tan int. 18" chrome rims, CD, A/C, fully pwr,
$6,500 w/rims $5,500 w/out rims, excellent
condition, must see to appreciate,
Call: 426-3270

BBF #846
, 1991 Acura, 17" rims,
excellent body, engine in very good condition,
alarm system, pwr windows, license &
inspected, $4,500, Apt size fridge, never used,
still in box, $500 Call: 426-4362 or 394-3691



RIB #787
1998 Ford Windstar,

Just arrived, never been in an accident, clean
title, fully loaded, Airbags, AC, AM/FM tape
seat 7, clean in & out, Asking $6,500.00 ONO
Tel: 323-3375 or 535-9737



_[BBF #852

1996 Honda CRV,
lust IN FROM JAPAN!! Lowest prices in Town,
-warranty, License & Insp., starting @ $9,995, |
We can special order any request,
Call: 323-1932




1994-99 Nissan Sunny,

JUST IN FROM JAPAN!! Lowest prices in Town,

warranty, License & Insp., starting @ $4,900,
We can special order any request,
Call: 323-1932

BBF #855

1994-1996 Honda Civic,

JUST IN FROM JAPAN!! Lowest prices in Town,
warranty, License & Insp., starting @ $5,500,
We can special order any request,

. Call: 323-1932



THURSDAY, MAY 11, 2006, PAGE 21











BBF #857
1995 Nissan Bluebird,

JUST IN FROM JAPAN! Lowest prices in Town,
warranty, License & Insp., starting @ $5,500,
We can special order any request,

Call: 323-1932






BBF #858

1994-95 Toyota Windom,

JUST IN FROM JAPANI!! Lowest prices in Town,

warranty, License &-Insp., starting @ $5,500,
We can special order any request,

Call: 323-1932






: 1994-1996 Toyota Avalon,
JUST IN FROM JAPAN!! Lowest prices in Town,
warranty, License & Insp., starting @ $5,900,
We can special order any request,

Call: 323-1932

BBF #868
2004 Ford Ranger + Cab,
very clean, $21,000, available @ Sanpin
Motors, trades are welcomed,
Only 15K miles,
Call: 325-0881 -2

BBF #886

1995-96 Nissan
Primera's loaded, $5,500, comes with license,
insp. Wane, plus services available @
anpin Motors,
Call: 325-0881-2












BBF #892
2003 Chrysler Town & Couniry LX,
leather, loaded, remote door, rear hatch,
$26,500, trades are welcome available @
Sanpin Motors, Call: 325-0881-2

BBF #992
1996-2001 Nissan Sunny & Sentra's.
prices starting from
$5,000 & UP,
available @ Sanpin Motors,
Call: 325-0881-2

ES
BBF #993
1995-1996 Honda Accerd,
loaded, available @ Sanpin Motors, Lic & Insp.
Serviced Etc.:.., 2 priced from $7,500 & UP @
Sanpin Motors,
Call: 325-0881-2

BBF #893
2005 Kia Scrento,
leather, loaded & diesel, only 6K miles, still
under factory warranty, $31,500, trades are
welcome, available @ Sanpin Motors,
Call:325-0881-2

BBF #894

2005 Hyundai Tuscan, : Br eet

only 4,500 miles, priced right @ $18,500, trades|
are welcome, available @

Sanpin Motors, Call: 325-0881 -2

2005 Kia Rio, ‘
loaded & clean, balance of factory, warranty
applies, $13,500 only 5000 Km, available @

Sanpin Motors, call: 325-0881-2

BBF #900 BBF #995
2001-2003 Dodge Caravans
& Ford Windstar's,
-available @ Sanpin Motors,

Call: 325-0881-2

2006 Kia Optima,
loaded $17,995, you get the balance of factory
warranty, Lic & Insp. Serviced Etc.... only
3000 KM, trades are welcomed, @ Sanpin
Motors, Call: 325-0881-2

BBF #996
2002-2004 Dodge 1500 pick up,
(new body style) available @ Sanpin Motors
priced from $18,500 & up warranty,
trades are welcomed,
license & Insp, serviced etc..
Call:325-0881-2

BBF #991
1999 Ford Taurus,
loaded, price reduced, to $8,900, warranty, Lic
& Insp. Serviced Etc...., trades are welcomed,
@ Sanpin Motors,
Call: 325-0881 -2

IBBF #997
2002 Chevy 1500's,
6 cyl & 8cyl, A/T, A/C, 8' bed, available @
Sanpin Motors, priced from $18,500 & Up
comes with license & Insp, warranty, service,
etc.....Call: 325-0881-2

1992 HONDA CIViC
Green with green cami interior, hatchback ~
: $5, 500.00 aed
Pager alarm, custom ext and interior, AC, lambo doors,
competition sound system, runs perfect
Tel: 454-0477

BBF #998 BBF #999
1996 Honda Odyssey
available @ Sanpin Motors,
$9,200, comes with warranty, lic, Insp, service,
etc...

Call: 325-0881 -2

2003 Ford F-150,
4dr & 2dr, models available, @ Sanpin Motors,
priced from $20,900 & up, comes with warranty,
lic, Insp, service, etc.... trades are welcomed,
Call: 325-0881-2

RIB #903 .
° 2005 NISSAN ALTIMA
White with tan interior $25,000
Fully loaded, 22” chrome rims, sunroof, 5,400
miles, keyless entry, only one on the Island
Tel: 394-3436 Cell: 525-1394

RIB #1001
4 23” RIMS WITH TIRES $2,700.00
Tel: 362-4714 or 455-7482

RIB #1003 ——
1998 RANGER XLT
Grey with grey eee coe condition, CD date bean ntnten mtaHod
player, Asking $6,000.00 _

$18, 500.00
Cell: see e eecaad Low -miles, CD player, tints, power everything,

Good condition
Tel: 356-0605 Cell: 565-7577

1997 POINTIAC
Super charger GT,
Burgundy with black leather interior
$4,600.00
Fully loaded, paint job, super fast, low miles,
good on gas, CD player, leather seats, price for
quick sale, Will ship to the family Islands for a
low fee, very nice car, Prime Cars Auto Sale
bring vehicie in for a low fee
Tel: 356-3953 Cell: 457-2791 or 454-7352

RI #782
1997 MITSUBISHI GALANT, SEDAN
Blue with grey interior
$5,000.00 ONO
Seem includes perfect
excellent condition.
Good body, AC, clean title.
Tel: 394-7270 Cell: 436-6318





THURSDAY, MAY 11, 2006, PAGE 23


















































ee RIB #114 RIB #119 S
RIB #107 : . FOR SALE, 2000 GREEN YARIS 2004 FORD EXPEDITION, BLACK RIB #131 2000 CHEVY IMPALA
vege peal il pal Low mileage, left hand drive. pe ROOTES, uy loaded, Silver with tan interior, Original chevy rims,
Manual Transmission First time Tel ad: en automatic windows 8 door, AC, AM/FM, radio,
Blue/Green color owner leaving Island : = ood condition.
- : - = 7,000.00 ONO
eae Tel: 302-4807 Celle SeratSe Order toe Tel: 393-0547 Cell: 423-8183



RIB #122
1998 FORD RANGER
Grey with grey interior, single cab
$4,500.00 ONO
Good running condition,












RIB #121
2006 FORD FIESTA, BRAND NEW
Burgundy red with cha-coal grey cloth
interior, power windows, power locks,

RIB #115 ‘i

: 1997 WINDOM

Identical to 2000 model Lexus ES 300. Drives &

looks like new, All originail, loaded TV, PS,
spot control electric fold back mirrors.



RIB #108
2003 INFINITI G35 (DK RED)
beige leather interior , sunroof, CD/DVD, S/S,






























: : cold AC, CD player
AC, Fully loaded. Priced $15,900.000BO _ Owner leaving: CD player Standard shift. : ;
Serous nals ony Arai a myles Serious enguties only See tha

of: 882-6642 (tte 6pm) or B57-9115467-1059 Tel: 363-2585 Tel: 427-6882 Tel: 341-1547 Cell: 552-1643



RIB #116 - ee RIB #585
2003 NISSAN ALTIMA, GOLD i a 2000 FORD TAURUS

beige/tan irtterior, clean, nice ride, RIB #117 Black with beige/brown leather interior.
1986 DODGE BAM 1500 2 2002 SPORTS TRAC, EXPLORER From the US, 4 door, automatic, power

Truck 4x4, Black with grey interior, CD, _ A.must see, cold AG, factory alarm and Red with grey interior, Fully loaded, CD, AC, P/S| lwindows/doors. sunroof, AG, 6 disc CD changer,

power windows and AC, $ CO player Low mileage, Excellent condition i
17,000.00 OBO call me. lets make a deal ge, keyless entry, dual airbags, Very clean
Call me” she's finally For Sale” Warrantly, full tank gas.

if there i is no answer please leave message on 4 doors, alarm
$12,500.00 Price reduced to $8,999, Must sell!

a Answering machine $21,000.00
ba olan - Tel: Aad. 8457 Tel: 341-6796 Cell: 424-6070 Tel: 361-7171 Call: 434-4182







RIB #638
JUST ARRIVED, 1998 TOYOTA CELICA
Sitting on brand new 17” rims & tyres, AM/FM
cassette stereo, brand new CD changer,
new battery, License & inspected until Nov 06.
Excellent condition. Must see to appreciate.
$9,500.00 or $8,500 w/regular rims & tyres
To veiw call 356-3922 or 357-4753

RIB #118
: 2000 FORD EXCURSION, BLACK
TRIB #113 38,000 miles, Mint condition.
2001 LAND ROVER DISCOVERY Serious inquiries only
Exc condi ea interior - Tel 364-2440
Tel: 328-4775(D) or 327-171 1 (evenings) Cell: 424-4493 or 424-4549

RIB #125

18 INCH CHROME RIMS
5 hole universal with tires for
$900.00
Contact 362-2477 or 535-5488



RIB #126
1997 HONDA ACCORD
White with grey leather interior. Fully loaded

leather seats, Ve Ture SO player, cold, Champagne, Clean interior, with sound system,
iles i i i
AC, niles, 4992 SUZUKI INTRUDER need to see to appreciate Only 44 K miles, good title
Just serviced. Just in from the US MOTOR CYCLE, BLUE $4,600.00 ONO $12,300.00 BO

$5,800.00 $3,500.00 ONC Tel: 364-2259 Cell: 422-3706 Tal: 392-2082 Cell: 427-
Tel: 356-3953 Cell: 454-7352 ; Tel: 326-1562 Cell: 424-4651 436-3760 324-5685 rel: 392-2082 Cell: 427-9042





2001 NISSAN MAXIMA, SE
Black with grey interior, keyless entry,
alarm, clean car inside & out ,

RIB #725
1998 NISSAN ALTIMA














PAGE 24, THURSDAY,

=



TRIB #650 —
1997 HONDA ACCORD
Tan with tan interior, 4 door, $7,00.00 CD, AC,
18" chrome, tints S/R.
+1997 ACCORD, AC, oe factory rims, tints, 4 door, s/s
$6.500

1995 ACCORD, 2 door, s/s $4,800
1993 LESABRE, 4 door tints, AC, $4,000 ONO
Tel: 364-3691 Cell: 557-1205

7
1997 CADILLAC DEVILLE
Rudy red w/ gold emblems & pinstripping,
daylights, plush cream leather interior, rich

mahogany & metalic accents, power everything,
steering wheel controls, 8-ways seats w/2 per
memory, Ice cold AC, 20 “ chrome. A presidential
ride on air suspension
$8,500.00 ONO
Serious inquiries only 535-0758 anytime leave
message. (factory rims available by request)

RIB #684
1998 F 150 XLT
Black with grey interior, short back
$5,000.00

(Needs engine repairs) Power everything, AC,

low mileage, Very clean,

solid body, standard shift

Tel: 324-5455 Cell: 426-5405

RIB #696
2003 FORD ESCAPE
Black with tan interior $17,500.00 ONO
Keyless entry, clean title, Fianancing Available
CD player & Tnts Included, power windows
Tel:( 328-8468 morning)
328-0651/356-3485(evenings)

RIB #692
1983 26FT CHRIS CRAFT, CABIN
CRUISER
Fly Bridge, Blue/White,
Hull only,
$5,000.00 OBO
Leave message
Tel: 457-4627 or 325-5555

MAY 11; 2006





4897 Honda Preiude,
This car is in
EXCELLENT CONDITION
Auio, Sunroof, Leather, Full Power,
Fully Loaded. Beautiful dark Blue exterior,
and Black Leatherinterior. Only 31,250 Miles.
Priced for quick sale. :
$7,800.00.
Ph: 424-0035

RIB #702B
1999 Plymouth Voyager
Auto, cold A/C
and priced for a quick sale.
Only $4,800.00
Ph: 424-0035





RIB #706 :
1998 HONDA CIVIC FERIO
Air conditioning, power steering, power widows,
power mirrors, central locking, air bags,
5 seats & alarm. Just in from Japan
Asking $6500.00 ONO
Call steve(h) 356-5534 Cell: 565-6091

RIB #724 :
1996 WINDOM, PEARL
With light grey interior
$8, 300.00 ONO
AC, rims like new

1993 NISSAN SENTRA
$2,800.00 ONO
Tel: 394-7044 Cell: 535-7550/425-4151

BROKEN CONSOLES,
X BOX, PS/2 & PSP
Get them fixed. Call me “J” 454-1507




#702A |











RIB #735
2004 GMC ENVOY, BLUE
$24,000.00 ONO
Excellent condition
Only 30,000 miles.
A steal
Tel: 454-2905

RIB #737 ;

2005 FORD EXPLORER XLS, SUV
JUST IN FROM THE US

White with grey interior, clean title, like new,

Call for price!!

low miles, V6 engine, fully loaded

with AV-trac system... 20” chrome wheels.

Cell: 565-2884 or 322-5525

RIB #721
2005 HYUNDAI ELANTRA
Burgundy with dark grey interior, 4 door sedan
$14,5000 ONO fully loaded, power everything. Cool
AC, alarm, CD player, low miles, excellent condition,
clean title, 1997 Toyota Avalon, Dark green rt hand
drive, cool Ac, nice & spacious, good con $6,500 ONO
1998 Mit Lancer, white mint condition, Ac, cassette
player, runs smooth, clean title, $3,700 ONO
Tel: 327-2257 Cell: 436-0221 or 302-3916



RIB #742
1992/1996 BMW 320
$8,300.00 ONO
CD PLAYER, RADIO, AC,
PB, PW, PL
TEL: 427-7095



RIB #752
GATEWAY PROFILE
Allin one, internet ready. DVD PC 386Ram, 20GB
HDrive, 15” TFT screen, wireless, windows 2000,
Antivirus, MS office PC built into screen
$499.00
Tel: 422-5499



cylinder, very fuel efficient, runs very well and in


















2000 PLYMOUTH NEON SEDAN
White with tan interior, MUST SELL! 4





very good condition. AC, CD,

Asking only $5,500.00 OBO
Serious persons call 364-7950 or 455-0763
Willing to Negotiate.






TRIB #750 :

1996 CHEVROLET, 234 MONTE CARLO
Sports luxury,
Regal Blue with cotton grey interior
$5,000.00
Mint condition, Air condition cold, One owner,
16 “ Alloy wheels, Must Sell!!
Expat leaving Island,
Tel: 425-53-44 Cell: 525-0923

RIB #739
2000 JAGUAR XK8
Convertiable, Black with black interior Convertiable
A work of art which happens to be an automobile, 2
doors, power seats, locks, doors & windows,
Am/FM/Cassette, multi CD player, GPS navag system,
black high gloss exterior, Serious inquiries only 30,000
miles Ask for Elvardo.
Tel: 323-1234 Cell: 323-6168



RIB #760
2004 CHEVROLET CAVALIER
Blue with black interior $9,500
AM/FM CD player, Cold AC,
ALSO 2001 KIA SPORTAGE $8,500
2003 DODGE NEON $7,500
2000 CAVALIER $4,500
2001 NEON $5,500, 99 ESCORT $3,500
Tel: 323-1800 Cell: 426-2533





RIB #804
2000 MITSHIBISHI MIRAGE

Red with grey interior, Just in from Miami,
ice cold-AC and runs very well,

Also low mileage
Asking only
$3,700.00 ONO
Tel: 364-8886/323-8173
Cell: 454-8749 or 544-3579





RIB #766 g
2001 TOYOTA COASTER
26 Seater, AC, power steering, auto
transmission, tints, good condition, Ideal for
school, Church or jitney. $33,000.00 ONO
Tel: 356-2337 or 327-6233
Ask for Umar








RIB #767
1996 FORD EXPLORER XLT, SUV
Green with grey leather interior,
Good condition, AC, CD,
$5,300.00
Quick Sale Needed
Tel: 502-6505
Cell: 424-3377 or 327-1878





RIB #768
1999 DODGE INTREPID
Black with grey interior, 4 door, Fully loaded,
AC, Tape player, Excellent condition
$10,000.00 OBO
Clean, must see to appreciate, One owner
low mileage 14,500
Tel: 392-1887 Cell: 357-4420



TRIB #781 :
1996 MERCEDES E326 $9,500.00 ONO
2005 SUZUKI IGNIS
Grey with black interior,
$9,800.00 CNO
2002 SUZUKI IGNIS $7,500 ONO
2000 SUZUKI BALENO $4,500.00-ONO
2000 NISSAN SENTRA $4,900.00 ONO

Tel: 324-3710 or 425-3527

RIB #784

1995 SUZUKI ESCUDO
Red with grey interior $4, 600.00
Just in from Japan, fully loaded, AC, alarm,
sound stystem, Licensed & insured until
March 2007
+ ~Fek 392-0908 -





RIB #790 .
1998 NISSAN SENTRA
Blue wih grey interior
$3700.00 OBO
Good running condition
Tel: 324-0903(h) Cell: 434-3658 or 328-3950



RIB #791
2001 KIA SEPHIA
Grey with grey interior standard shift,
CD, AC, Excellent condition
$6,000.00
Tel: 341-1194 Cell: 525-5233

RiB #793

2000 FORD F150 XLT
Fully loaded, mint condition with Tonneau hard back

cover, Running boards, billet grille, Sun Visor, bug
deflector, chrome accessories, Only 29K miles,
Price can’t be beaten!!!
$13,500.00 ONO
Call 356-3953/457-2791 or 454-7352

TRIB #794 —

1996 BUICK SKYLARK, GOLD
Excellent condition, Everything |
$6,700.00
500.00 discount
Tel:393-7978







RIB #796 |
1998 FORD EXPLORER, SUV
Green with ian interior,
Excellent condition, Qne owner
only 66,000 miles. $8,600.00 OBO
Tel: 45741945 +

een eT Ce ST












LL

RIB #798
2003 CHEVY CAVALIER
Grey with grey interior
$6,000.00
18” Gun metal rims and sound system
Tel: 341-2192 Cell: 525-5607

RIB #799
1993 HONDA PRELUDE
Black with grey interior
$4,950.00
V-Tec DOHC, 17” rims, chrome muffler,
standard shift, sunroof, 63,000 miles, lip kit, PW,
PL, AC
Tel: 361-1274 Cell: 525-0016

2001 CHEVY IMPALA
Red with grey interior
$9, 300.00 OBO
AC, Low mileage, CD player.
Owner leaving Island
Tel: 364-3202
Cell: 544-9209 or 394-0716



1B #801
2000 FORD EXPLORER
Black with grey interior, 2 door sport.
Perfect condition, Factory CD player,
clean interior
$7,800.00
Selling because going of to school
Cell: 436-9847 Tel: 361-5472.

RIB #803
1997 HONDA ACCORD
~ Green with tan interior
$5,500.00 ONO
Good condition, Clean, Low mileage.
This is it 081952





THURSDAY, MAY 11, 2006, PAGE 25




Tel; 565-9750 Cell 357-3964 |

2000 PONTIAC FIREBIR
Red with black interior, T-top,
DVD screen player,

13 disc CD, fully loaded
Tel: 394-7019

TRIB #806
" 2000 Chrysler Grand Voyager;
Burgundy colour with grey trim; Power Steering,
3.3 litre engine; Radio / Cassette Player; quite
spacious. Good condition. $9,300
Call 393-7159. Owner leaving Island."



RIB #807
1998 TOYOTA WINDOM
A/T, P/S, A/C, satellite radio,
white with light grey interior
4 door sedan,
$11,000.00
326-7508(w) Cell:424-2624

or
324-7856(h)











RiB #869
1995 NISSAN MAXIMA
Black with brown interior, Running like a dream,
AC clean, CD player, JVC, 18” rims chrome,
2-10" speaker, solid good deal, license
$5.500.00
Tel: 341-8109 Cell: 454-3859








TRIB #905.
1998 Nissan Primera
30,000 miles, right hand drive
excellent condition
$7,300
Phone: 327-5676 |

I







2002 GMC SIERRA DELUXE
Red pick-up with tan interior, from Orlando
aution! V8, AC, PS, PB, Auto, radio w/CD,
new rims, very clean like new
$17,900.00
Tel: 322-8734 or 325-31 10/565-6840

RIB #900- 1996 NISSAN MAXIMA
Dark grey with beige interior/cover black & gold
$4,000.00
In very good running condition, factory rims, AC, alarm
system, surround sound system with amplifier,
Good body. Tel: 544-5050 Cell: 454-6632

TRUCK OR BUS 2
Can't find parts, then we can help.
We serve the Caribbean
137 Maxfield Avenue
Kingston 10 Jamaica, W.I.
Tel: 876-968-6840-3;
FAX: 876-968-6844
EMAIL: Sunshineauto @ cwjamaica.com

1993 TOYOTA.CAMRY
Silver with grey interior
$2,800.00 ONO
Good running condition, power everything,
AC working, good clean interior and exterior,
tinted windows
Tel: 364-5178 Cell: 535-5963

Solid Maple |
Plywood
Closets

Variety of colours
Call .

Carib-Woodworks

for additional info:

424-1994

BBF #146
4-piece front room set,
$1,350,
Call: 364-4810
or
341-5933

Nokia 5165 (T) - New - $60.00

Nokia 3595 (G/Q) ~ New - $80.00

Nokia 2260 (T) - New - $100.00

Nokia 3560 (T/Q) - New - $150.00

Motorola v.60) (T/F) - New - $150.00

Motorola v.60t (T/Q/F) - New - $160.00

Nokia 3220 (G/Q/V/C) - New - $220.00

*Motorola L6 SLVR (G/Q/S/C) - New - $220.00
Motorola v.600 (G/Q/S/C/F) - New - $240.00
Motorola SILVER RAZR (G/Q/S/C/F) - New - $270.00
Motorola BLACK RAZR(G/Q/S/C/V/F) - New - $300.00

Motorola PINK RAZR (G/Q/S/C/V/F) - New - $320.00

Telephone: 242.456.3967/242.324,4198 ‘Delivering , topnotch technologies at topnotch discounts!’
E-mail: rboliva@yahoo.com, http:,’/ www.augustrooster.com - Coming soon! Gall us, delivery is free!

We alse unfeck
nbenes, please
eall and inquire.

Guide.

G-GSM phone

T- TDMA phone

C - Camera phone
V-Video
S-Speaker phone
Q-Color screen

F - Flip phone

For activation, please add $50; (* - Shown)



BBF #167
Complete Workout York Station,
free weights w/adjustable stand, bench
w/attachments, & edge fitness, bike & AB lounge,
$4,200, high speed gaming pro computer w/everything,
$700; PSP wireless, internet access, holds, pics,
music, & videos, Call: 324-2865 or 424-4301

- 5 ae %
RIB #699
90' Fishing/Processing Vessel for Sale
Bids to be submitted to
325-7777 or faxed to 3282733



"Saws

RIB #904. “Os
1999 FORD F -150.
White with grey interior, single cab
$8,500.00 ~°
AC, CD player,
Runs perfect
Tel: 454-0477

RIB #908
1994 HONDA CIVIC
GREEN WITH GREY INTERIOR, 4 DOCR RHD
$6,000.00
17” GUNMETAL WHEEL, 9 SPEAKER INFINITY -
SOUND SYSTEM 2100 WATT. INTAKE EXHAUST
COIL OVERS
TEL: 424-1176







BIB #786



FOR SALE BBF #128
Burglar Bars to Fit - Windows 4 Industrial Sewing Machines for sale,
73" x 37". $400.00 perfect for sewing straw work and other heavy
48" x 72" $325.00 duty items, in excellent condition, prices start @
24"x 24" $150.00. ate ea
Call 477-1671 or 393-7981 arene

RIB #120
2003 YAMAHA FX 140 CRUISER
*Red and black, 3 seater
$6500.00
It comes with trailer,
2 life jackets and cover
Tel: 323-3028 Cell: 557-2723

RIB #130
MUST SELL
Glass Boardroom table, 8 new chairs,
credenza and cabinet.
Asking $3000.00
will accept resonabie offer Tel: 436-4177

BBF #101
. A Complete Du set for Sale:

(4) 18" PV Low Rider Woofers in cabinets, (4) 15" B
Subwoofers PV Low Riders in Cabinets, (4) 2 ? drive
horn in cabinets, A complete DJ Tower with (3) QSE
Amplifiers, (1) Cross over, (1) Double CD Player, (1)

Mixer with Equalizer, (1) independent equalizer, and all
cables, wires and jacks are included.
Phone: 242-323-8080/242-359-1033

Lundy's Property Management,
private & commercial building maintenance and
renovations, electrical, plumbing, lawn care,
painting, and carpeniry,

Call: 565-2859 or 636-9776

RIB #646
1992 DEFENDER 70F7 x 20FT WIDE
FISHING BOAT
White/blue, twin GM 871,
20 HW generator
5000 gallons diesel, 1000 gallon gas, wate
maker, AC, 40,000 Ibs freezer, sleep 14,
with lots of room,
Ask for Kent at 357-1255
SS stabs Y OD) AIDEN
shawn at337-3014 or 357-1517

TRIB #698
90' Fishing/Procéssing Vessel For Sale.
Bids to be submitted to
325-7777 or faxed to’ 328-2733








RIB # 677A
150CC JAILIN 4 CYCLE ENGINE, $1900
Automatic, Inexpensive but reliable
Immediately West of Basra, East Bay St
Tel: 326-7508 :









FRIGIDAIRE PROFESSIONAL SERIES
Slide-in stove & glass cook top/adjustable burners-
brushed stainles steel new of dock at cost plus freight &
duty, 30” wide, Too big for my kitchen.
$1,895.00 Tel: 477-7908

RIB #792
MALE SHIH-TZE PUPPIES
For Sale $600.00 ea. Contact 341-1768- 4:00
pm to 8:00 pm, please leave a message before
4:pm and after 8:pm.
email:myshihtzupet @ yahoo.com

RIB #106.

HURRICANE CODE DOUBLE GARAGE DOOR
White traditional raised panel design, florida wind code
155 MPH, Size 18’x 76’ / 6” C channels one at every
panel, double wind coding braces at every corner & at

each section, includes garage door opener with 2

transmitters & keyless entry pad. New in crate,
Paid $3, 500.00 Asking $2,800.00 ONO
Call: 324-4656

RIB #677 3
100CC 4 CYCLE ENGINE, $1600
Manual 4 speed, Inexpensive but reliable
Immediately West of Basra, East Bay St
eS s+ S Tel: 326-7508

RIB #133
Brand New GE Profile Cooktop






all 377 0201 or 422 1481

Fast computers starting $899.00.
System with flat panel $1099.00
Tel: 424-4140 or islandupgrades @ gmail.com
www.islandupgrades.com

Value $1250 in US
Price $750 ono






ISLAND UPGRADES




PUPPIES FOR SALE
Bichon Frise
$800.00
Tel: 341-4001 Cell: 424-0147

SELLING GAMES

4 (PS2), X BOX 360)

Used games from
$19.95- $49.95

Nen games from
$39.95- $84.95

Call: for listing
Tel: 328-6160
Cell: 544-4273

Human
Transporter
It's the toy for the
grown-ups.
For Thousands
less
then the Segway.
It has Headlights,
| Brake lights, and
signals.
Enjoy this cool
Human
transporter for
only
$1,099.00
Ph. 424-0035



RIB #677B
125CC JAILIN 4 CYCLE ENGINE, $1800
Automatic, Inexpensive but reliable.
All models are fuel efficient
Immediately West of Basra, East Bay St
Tel: 326-7508 :








RIB #682
2006 HONDA 650L
Red white/black, $8,400.00 OBO
House kept, very clean bike, 528 miles, runs excellent
Ask for Lewis or Peter, Serious inquiries only
Tel: 356-2154 Cell: 556-1215



Rotweiller,
Mr. Stud service,

Call: 535-1955
or
324-2076

3 on =
RIB #691- 6 LUGS, 20” CHROME RIMS
with tires, fits Chevy Trail Blazer, GMC Envoy, Isuzu
Rodeo, Honda Passport, Mitsubishi Montero trucks
also, etc. Get ready to shyne $2, 200.00 OBO
Steering rack for Isuzu Rodeo or passport
Tel: 325-3540 Cell: 422-4668/326-2201



RIB #800
2003 HONDA F41 600
Red/Black, Digital dash, muffler, jet kit, black
rims $4,500.00
Tel: 361-1274 Cell: 525-0016

THURSDAY, MAY 11, 2006, PAGE 27










RIB #748
JVC AND PIONEER CD PLAYER’S
From $145, premier just $265,
1800 pioneer $185
Cell Phone’s Motorola razr $325, blue $340,
Pink $385, Silver L6 300,
Black L7 $399, V220 $210 V60 $140,
LG $168 Camera,
We deliver
Tel: 436-8495








RIB #688
THE CRAZIEST COMPUTER SPECIAL
EVER!!
The turbo- smart machine, only $799.99
Call today- dont miss this deal while
supplies last
Tel: 323-4075/322-8415

TRIB #123

PUPPIES FOR SALE
Bichon Frise, American Bulldog Pekingese.
Registration prov
Tel: 341-4001 Cell: 424-0147

RIB #797
2003 HONDA, CBR600F4i°
Red/Black, Just serviced, Brand new rear tire.
Runs well. $4,500.00
2004 SUZUKI SV650, Rust $5,000.00
brand new front tire. Just serviced, runs well
$5,000.00
Tel(954)495-8783 Cell: 544-9667

RIB #808
22” CHROME RIMS AND TIRES
- 6.lug, fits Chevy Escalade & Avalance
$3,000.00 ONO, For info call 324-1644/361-1835



PAGE 28, THURSDAY, ‘MAY 14, 2006. THE TRIBUNE









RIB #134








RIB #124




































, 2000 FORD MUSTANG
RIB #574 * Windoms Three (3) to choose from. : j , ri i
2000 MITSUBISHI MIRAGE 1992-1996. Fully loaded. RIB aaa ivieoln Town Car Black Se Toone interior
Dogue. Ono BiAcca pre aeton be: $7,000.00 O.N.O Dual exhust, AC CD nice sound

system. Good condition

Telephone 325-6847. | Meany ara
~~ Tel: 357-4790

Drive in style for the price of a Sentra. :
y i Ask for Mr. Moss. | .

4 door, 18’ chrome rims, low mileage
Phone 364-7450 or 455-6895 to view.

Tel: 565-9750 Cell: 357-3964














BBF #191.
: 1998 Chevy Lumina, LTZ,
20" chrome rims, 2- 10" DVD Screens,

BBF #194















AIR FRESHNERS; BBF #192

Liquid or Gel, gallon S13 or 2 LANS, flavors;

1993 Buick Regal, |












BBF #193

; ; A/C, pwr windows, engine in good condition, )
gnery: Suevbery, bey paver, Jasmin, uy 1995 Cherokee Jeep, Pe abia vehicle: $2,000, ea roof and cee Pe eanet seats, pw
sada, Bundle gum, Garang, new earscent, | | yo, pwr seats & looks, wel Kep sckfor Me Ader, ee nt
me325-5016, $3,900, Call PS eR2O0R Call: 636-4353 or 565-8796
Call: 356-2109 or 325-5016 Call: 324-1483 ’








BBF #189

1992 Laurel Altima,

mechanic special, great for parts,
Call: 324-1416






BBF #188 BBE 7

Lee Nee Soa as NTU,
lthr, 17" chrome rims, set, remote start, : SU o MLeEN; SOUN
Call: 424-4255, 362-1938, or 324-8638] | “vstem auto, mins grtat, £4,500, ONO:
$4,500, Call: 436-0614










BBF #190
2000 Suzuki GSX 750,
perfect running condition, $3,000 firm
Call: 394-3540 or 456-6647 after 5pm




: oi
2001 FORD F150 LARIAT
Black & beige with beige
~~ leather interior,
$31,500.00 ONO,
Fully loaded, factory order.
- 4 Ls fully customized,
a a RIB #138 : : ; on 6. iey cD player, Bed ee
y ust see to appreciate. garage kept.
Tan with eee er RG te factoy rims 2001 FORD FOCUS, SEDAN ‘ _— Inmint condition. 2BK miles :
4 doors, stick shift, Just like new White with grey interior Serious enquiries only.
Asking $5,500.00 $7,500.00 : : =

1995 HONDA ACCORD LX, Tape, radio, AC, white, : aS : 3 ; a
2 door, stick ara rae WOKE Everything works Tel: 324-5107 Cell: 357-8506

seg Coane ee 06 ; Tel: 364-5497 Cell: 426-9740



HONDA PRESSURE WASHER
New 3, 200 pump,11 HP engine
$1200.00 ONO

LARGE 2 DOOR
COOLER
A1 CONDITION

$1600.00 ONO
TEL: 362-6040

Rent $125.00 per day .
Tel: 362-6040

RIB #617
PAYLESS WHEEL CHAIR SCOOTERS
"27" FROM'$799.00
TEL: 362-6040:





THE TRIBUNE

ERA.

DUBUCH REAL ESTATE
- ibe cra dupuch. com

HOMES/APARTMENTS/ :

CONDOMINIUMS
3741 Skyline Drive:
Spectacular 7 bed estate home
on a 3 acre lot, enjoy lake
views, elevator, marble tile,
abundant cedar-lined storage
cupboards, mahogany paneling
and swimming pool.
$4,500,000.

3733 Palatial Estates: Luxu
4 bed home detailing a 15K
generator, heated swimmin
pool, home theatre, spa,.as well









as' appliances by Miele,
Kitchenaid and Maytag.
$2,400,000.

3640 Orchard Villas:
fantastic 5 bed home and guest
cottage takes full advantage of
tranquil and serene settings.
Enjoy commanding views an
entertain wi ease.
$1,750,000.

3724 East Bay St: Commercial
building in prime location, enjoy
harbour, ample parking, several
zoned central air and_ split
system units, 6OKW generator
w/ auto. switch, alarm system,

wooden floors, recessed
lighting and more. $1,400,000.
3610 Skyline Heights:

Spacious and exceptionally laid
out 4 bed home,

sitting on over an acre of
landscaped grounds, pool, deck
area and tray

ceilings. $950,000.

3721 Sandyport: Canalfront 3 |

storey townhome, 4 __ bed,
furnished, granite countertops,
Jerusalem — terracotta _ floors,
ebony-stained hardwood floors,
Jacuzzi, recessed lighting, deck
and a 80 galton water heater.
$925,000.

3628 West Bay: Delightful

island-style 3 bed home, newly
constructed ~* and tastefully
finished. $799,000.

3727 Ocean Mist:
Professionally designed and
outfitted with unique finishes,
this spacious two level 3 bed
townhouse offers breathtaking

views from — every _ floor.
$625,000. .
3739 -Delaporte: Fully air

conditioned, three storey 3 bed
unit detailing 2 parking spaces
per townhouse,
swimming pool and beach,
beautiful. views of sea and
beach: $615,000.

CALL ERA Dupuch
Real Estate
Tel: (242) 393-1811 or.
Fax:.(242) 394-1453
: “info @ eradupuch. com'
_ www. erabahamas. com









un

This |

access to)

REAL ESTATE
Lots —
lott Bernard Rd. —Lot 64 x 100

or 5,799 sq.ft. Approved for

duplex. $60,000.

Houses
Hillcrest Towers 2 bed, 2 bath
penthouse with ~ study.
Gorgeous. _- views. Asking

$229,000.

Marshall Rd. 2 storey 3 bed,.2
bath home on large lot. -Needs
TLC. $170,000. Willing seller.

Camperdown — Renovated

8,000 sq.ft. hillside 4 bed, 3

bath home with workroom & lg:
patio. $499,000. ;

Coral Harbour canal — 2500

sa-ft. 4 bed, 3 bath. Central].

'C. $695,000.

Woodland Rd. — Corner lot 100
x 100 with 4 bed, 3 bath 2600

sq.ft. hm. Central a/c.
$410, 000. ;
Fam. Islands

Long Island- Salt Pond. Resd.
Lot 100 x 130. $30,000.

Hamilton’s — Resd. Lot 100 x
270. $30,000.

Exuma - 1.4 acres beachfront

property. $485,000.

Abaco. Treasure Cay. 1/2 acre
canal lot. $395,000 O.N.O.

Rental
Quiet neighbourhood.
Centrally located spacious 3
bed, 2 bath furnished home
with fam.room. Fully enclosed
and very private yard. A/C.
$1,900.00 mthly.

Blue Sky Real Estate
394-1664



TREASURE COVE
One of a kind Eleuthra Model,
beach front house,
upgrade construction,
special concrete drive way,
updated kitchen, laundry
tray, high end tiles in dining,
. kitchen and laundry area
including bathrooms.
Carpet in 3 bedrooms,
larger property than normal.
Asking $355,900 Gross ono.

Phone 565-9095.

HOUSE FOR SALE

Man-O-War Cay, Abaco
3-bed, 2-bath, 9,000 gal cistern
work shop/laundry,

TOKW generator $349,000. Call

: 242- ee ee



sated hectic els

HOUSES/CONDO
TYLER STREET: Newly
renovated 3 bed, 2 bath house,
Lot 50x100, $175,000.

VICTORIA COURT:Down
Town gated _ with. - pool.

Furnished 1-bed 1-bath, AVC,.
| and cable ready, $120,000.00.

Rental $1,000.00 per month

LOTS
JIREH ESTATE NEW
SUBDIVISION WEST: Hill top,
ocean view, gated, multi-family
lots Stating price $340,000.00

Property size 140x110. : Call to

reserve

GLENISTON GARDENS:
60X175, $95,000.00

BUTTONWOOD HILLS,
- CAMPEDOWN, 95X107,
$125,000

WINTON-Multi-family
Ocean view, 100X234
$240,000.00

WINTON HEIGHTS
115X138
$150,000.00

BILNEY LANE OFF MACKEY
AND SHIRLEY STS.
Commercial corner lot size
82x96, $125,000.00

ORIS SYMMONETT
REAL ESTATE at
325-8280, Eve. 325-1961

TROPICAL HOME

DESIGNS
CONSTRUCTION
co

AFFORDABLE HOUSE AND
LOT PACKAGES FOR ONLY
5% DOWN.

2 BED, 2 BATH $90,000
3 BED, 2 BATH, $120,000

DUPLEX, 2 BED, 1 BATH
$155,000

TRIPLEX 2 BED, 1 BATH
$185,000.00 ,

IN SUCH AREAS:
-CARMICHAEL RD

-COWPEN RD,
-SOUTH BEACH,
-CORAL VISTA
-KOOL ACRES

-PRINCE CHARLES AND
MANY MORE

COME IN TODAY AND LET
US MAKE YOUR DREAM
A REALITY.
TEL 323-0546, 326-5468
Eve 323-26

‘UNTIL. JUNE



LOTS FOR SALE

|: BOATSWAIN * “SUBDIVISION,
400'x80'.. $70,000







Since 1922
www.HGChristie.com

NASSAU LOTS

New! #NS06119 — Indigo:
7,200 sq. ft. elevated lot in a
gated community near the
beach.

#NS06111 - Coral Harbour:
Two lots totaling 31,485 with
house to belt course. $240,000

#NS06092 - Coral Breeze:
8,000 -sq. ft. single/multi-family
lots in a new gated area.
Starting at $80,000

#NS06102. and NS06103 - -
Sunrise Acres, Yamacraw:
Two adjacent 18,000 sq. ft.
ocearifront-lots. $625, 000 each

#NS06087 - Market St. &
Wulff Road: 23,000 sq. ft.
commercial property. $305,000

#NS06087 and NS06091- -
Love Estates: Two adjacent
hilltop: lots comprising 32,725
sq. ft. each with ocean views.
$394,000 each

#NS06089 — Twynam Heights:
Rare 10,832 sq. ft. ocean view
lot. $170,000

Schedule a viewing on-line
today at HYPERLINK

- http://www.HGChristie.com

or contact us at (242) 322-

1041 or email HYPERLINK
sales @hgchristie.com



DO YOU OWN YOUR OWN
PROPERTY?

ARE YOU STILL PAYING ON
YOUR _QWN __ PROPERTY
THROUGH THE BANK?

WHY PAY FOR PROPERTY
AND RENT?

CALL DREAM - DEVELOP-
MENT TODAY!

WE CAN SHOW YOU HOW
TO BUILD ON YOUR OWN
PROPERTY FOR AS LITTLE
AS $2,500.00 DOWN. AND
30TH ALL
PERSONS WITH OWN LOTS
CAN TAKE ADVANTAGE OF
FREE LEGAL mEae

Cc
394-8890, 394-8889, 394-7799



[484-6844 or 362-1150.












Knowles Realty
www.knowlesrealty.com

LOTS IN THE WEST
New Gated Community -
(Two parks, swimming
pools and tennis courts)
Home/multifamily

lots starting at $80,000
Nursery school lot
$200,000

STELLA MARIS |
LONG ISLAND

fo leovosat oe lots
(a) 15,000 sq.ft. Sea view.
Hilly terrain. ‘$29,890

(b) 28,000 sq.ft. Sea view.

“80 ft. elevation. $40,000

(c) 3 acre lot. Short walk to
resort. Near airport.

Perfect for rental units.
$195,000

CABLE BEACH

Large 2-bed 2-bath

house in private road

near beach. Room for %
expansion: $1.4 million

Telephone
Knowles Realty
Nas

FOR SALE BY OWNER

Lovely SANS SOUCI home
2-Bed/2 1/2-bath
2 Efficiencies attached, living,
dining , TV room, tiled floors,
wash room, garage, new roof,
enclosed yard, fruit bearing
trees, 10,000sq. ft.
Great income. Motivated Seller

$350K
Telephone:361-3830.



Executive
Realty

HOMES/APARTMENTS
0291 CORAL HARBOUR:
Large 5bed/3.5bath home on 2
Canal lots Zoned multi-family.
Has 2bed/ibath guest cottage,
pool, dock, workshop and
rainwater tank. Alll this for only
$650,000.

0286 ‘CORAL HARBOUR:
Canal front home, 4bed -3bath
split level family home, pool,

garage, cement dock, _ fully
enclosed lot. $465,000.
0287 CULBERTS HILL: Ex-

ecutive home with 3bed -3bath,
pool and guest quarters, marble
floors, study ,large master suite

with Jacuzzi, 2car garage,
$790,000.
0301 PINE SOR: 3bed- !





THURSDAY, eas ts 2006; PAGE. 29 .

Sales * Rental * Appraisals*
Management

Ph & Fax: 361-7880

E-mail: HYPERLINK




“mailto:rudy @ batelnet.bs"

rudy @ batelnet.bs
www.tpm-real:



.cCOomM

Rudy Dean, CREA
Broker / Appraiser /
Investment Consultant
Appraise accepted by all
banks.

RESIDENTIAL LOTS
BLUE HILL HEIGHTS
100*100 - $90,000

SOUTH SEAS (GATED)
7,500 sq ft. $80,000

SOUTH OCEAN ESTATES
Starting at $89,500

CORAL VISTA
Starting at $64,000

CHARLOTTESVILLE (GATED)
60*120 - $89,900

BAHAMIA WEST
100*230 - $340,000

BAHAMA SOUND (EXUMA)
100*100- $20,000

MULTI-FAMILY LOTS
HIGH POINT ESTATES
Duplex. $94,000, Triplex.

$105,000

NASSAU VILLAGE
50*100 - $45,000

SANDILANCE VILLAGE
51*140 - $68,000

SOUTH SEAS (GATED)
8,000 sq ft. $95,000

SOUTH OCEAN ESTATES
Starting at $105,000

WEST WINDS
Duplex, $90,000

CORAL VISTA
Starting at $81,000

WESTRIDGE
Zoned for 12 units, $360,000

GRANTANNA
75*98 - $69,000

COMMERCIAL LOTS
FAITH GARDENS
20,000 sq ft. Starting at
$200,000

Coniact TPM Realty.
361-7880, 456-9281









WORLD DEVELOPERS LTD.

Call Astrid Fraser or Sara
Parker, BRI, Today!
World Developers Limited
Tel: 242-327-7721
or 242-324-1457
morningglory @coralwave.com

Premium Properties
FOR SALE!

EXCLUSIVE!
WintonHeights—5BR/4 b,
pool, enclosed garden, great
security, Reduced to $545,000.

Angel’s View—Eastern Rd.,
3BR, pool, sea views, large lot,
hill side, Reduced to $750,000.

Winton Meadows—3BR, big
yard, partly enclosed, rental
efficiency, nice neighbourhood,
$189,000.

NEW LISTINGS! Sea views
and boat ramp—3BR, 2 baths
in immaculate home, _ fully
enclosed grounds. $399,000.

Sans Souci Sea Views—3 BR
house, 6000 sq. ft., plus 1 BR
renovated cottage, $475,000.

Renovated Historic Estate—
Eastern. Rd., 5 acres with new
dock, beach, rental income,
too. Call for details.

OldFort Bay—1.5 Acre Beach

Lot with canal at back! Call
now!
EwingManor—Spacious,
luxury town houses’ with
incredible views, from
$660,000.

High Vista—4BR/3b, pool,
enclosed garden, _ sprinkler
system, $350,000.

Ocean Place, P.ls.1/2—
Preconstruction prices on

harbour front 2 or 3 BRcondos
with oversized balconies, resort
quality services.

PAGE 30; THURSDAY; MAY 11;-2006-



WORLD DEVELOPERS LTD.

RESIDENTIAL
Condos & Apartments
Silver Cay—3BR, 2 baths,
beach views, tennis courts,
convenient to downtown,

$2,200. or $240,000.

SPECTACULAR SULGRAVE
MANOR, —. 3 BR, 3 baths ,
Separate balconies to ocean
and golf course. Modern
kitchen.Study. Marble wet bar.
Laundry room, access to spa,
beach, heated pool, 24-hour
security. 2,480sq. ft. $6,000.
rent or $690,0000r,2 BR, 2
baths, furnished $2, 000. rent
or $450, 000.

Whispering Pines—2BR/1.5
bath, nicely furnished,
$168,000

WEST
Caves Point — luxury condo,
3BR/3.5 bath, $725,000.

Dannotage Estates— 3BR/2b,
enclosed garden, cathedral
ceilings, open plan, $2,600 rent
or $400,000. sale.

Homes
WEST .
Powder beach front— 3BR
home and 2BR cottage on
West Bay St., $995,000.

Lyford Cay Villa—with dock

rights, pool, $2.6 million.

Lyford Cay Golf Course
Home,—4BR, pool and
jacuzzi, fireplace, newly
renovated, 3 phone lines, 3
water sources, full house

generator, $3.9 million.

Crown of Lyford Cay— new
homein 2 acre _ estate,
landscaped and secure. Pool,
fountain and_ waterfall. 180
degree vista of sea and Lyford
from breezy veranda. $5.5
million.

TropicalGardens, 3BR/3b,

Powder beach front home— | $240,000.

designer interiors,
immaculate!4 BR, Media room,
plus one or two BR cottage, top
condition, security. $3.6 million.

COMMERCIAL
Eastern Rd. —Big property
with sea views, two houses
and garage, $550,000.

HISTORIC, Popular
RESTAURANTs—central
location $2.4 million or east,
$1.6 million, call for details.

Claridge Rd.—3 commercial
properties from under
$200,000 to $999,000.

Alrport Industrial Park— lots
from $105,000:

Turnkey ‘—Beach front house,
West Bay St., $1.5-Million

PARADISE ISLAND
The Residences at Atlantis—

own a piece of a condominium
hotel.
OCEAN CLUB Estates

2BRTum key Guest Cottage,
dock, beach, and 8,000 SQ.
FT. house under construction
on large lot, easter tip, $6-
Million.

Seafront houses--
Neighbouring 3BR houses on
Eastem Road, $1.4 million.

Call Astrid Fraser or Sara
Parker, BRI, Today!
World Developers Limited

~ Tel: 242-327-7721
or 242-324-1457 '

PGF

Telep hone:

326-801 7, 326-8112
Our Motto: “PUT GOD FIRST”





Rev. Walter S. Hanchell, J.P.
Broker/ Appraiser
APPRAISALS « RENTALS
SALES

EXUMA 4 acres hill-top
commercial property near Four
Seasons, $650,000.

MISTY GARDENS, large multi-
family lot, $85,000.

OFF NASSAU _ STREET, hill-
top commercial property, street
to street ideal for church or
apartment complex, $160,000.
WESTRIDGE, elevated multi-



family lots, ~ $220,000 to
$275,000.

OFF PYFROM ROAD, large ot
with house on enclosed

property, may be divided into 5
lots, $160,000.
COLONY VILLAGE, attractive

duplex at cul-de-sac, was
$240,000 now $220,000.
OFF FAITH AVENUE, nice

duplex in quiet area, 3 years
old, $195,000.

OFF NASSAU ___ STREET,
commercial property on
elevated lot running street to
street, may be used for
apartment complex church or
for commercial use, $150,000.
OFF MCKINNEY DRIVE, large
attractive triplex, excellent
condition, 3 years old (1) 2 bed
2 bath with central air and utility
room, (1) 2 bed/2 bath, (1)
bed/ibath, beautifully
landscaped, $275,000.
CABLE BEACH, 1 bed
furnished condo, $120,000.
OFF ST. VICENT ROAD, 2 bed
1 bath home with 1 bed 1 bath
efficiency $120,000.

HIDDEN HILLS, brand new
luxury hilltop == condominium
overlooking Lake Cunningham
starting at $695,000.

| ND, Own a
iece of Atlantis, condominium
otel suites starting at

SOLDIER ROAD WEST, Six
unit 2 storey apartment building
2) two bed (4) one bed
385,000.



REGENCY PARK, off Prince
Charles Drive, newly renovated
3 beds, 2 bath house with
attached, efficiency very good
condition, $160,000.

MILLERS HEIGHTS, large
triplex, good condition, fully
rented, - .appraised vane
$278,000, owner -will. .accept
$235,00

PGF

Telephone:

326-8017, 326-8112
Our Motto: “PUT GOD FIRST”





STREET,

SOUTH-WEST

South Ocean zoned for hotel or
luxury condos. This is the last
remaining property of this. kind
on the island with arguably the
most beautiful beach in New
Providence, serious enquires
only, Price $9 million.

CORAL HARBOUR CANAL,
Investor’s dream, 3 villas on lot
70x145 with breathtaking view,
$425,000.

OFF ROBINSON ROAD, near
Marathon Mall, spacious 4 bed
house ideal for commercial use,
$135,000.

OUT EAST, duplex packages,
in new development, $175,000.
MOORE SUBDIVISION, Large
triplex on enclosed property,
central air, .small stand-by
generator, $175,000.

GARDEN HILLS, hilltop 2
storey 5bed, 3 bath house,
enclosed yard, $250,000.
CAGE POINT, ABACO, 57
acres, oceanfront, $3.5 million
YAMACRAW ROAD, 2 bed, 1
bath condo, $195,000.

COLLINS AVENUE.
commercial building on main
road ideal for professional
office $250,000.

FOR RENT
YAMACRA’ ROAD. 1
bedroom unfurnished
apartment $600 monthly; 2
bedroom unfurnished
townhouse, $1,000 monthly.
LEEWARD EAST, 2 bedrooms
furnished apartment in quiet
geverpinen: $800 monthly.
CABLE BEACH, attractive 2
beds, 2 bath fully furnished
villa, $1,500.

OFF MONTROSE AVE, large 2
bed apartment, $650 monthly.

F near
Wendys, 3 bed 2 bath
apartment in quiet
neighbourhood, $1,900.

PGE SELLS HOUSES,
ACREAGE AND RESIDENTIAL
AND COMMERCIAL
PROPERTIES AND
BUILDINGS. WE _ HAVE
ACREAGE ON FAMILY
ISLANDS INCLUDING _SAN
SALVADOR, CROOKED
ISLAND, EXUMA, ANDROS,
ABACO, CAT ISLAND AND
LONG _ISLAND. WE
SPECIALIZE:IN REAL-ESTATE
SALES, RENTALS — AND
APPRAISALS AND PREPARE
AFFIDAVITS AND WILLS.








-THE-TRIBUNE

COLDWELL

COLDOWELL oe
BAN KGR Ss

BANK

LIGHTBOURN REALTY | LIGHTBOURN REALTY

APARTMENTS & Off Eastern Road- 4 bedroom

TOWNHOUSES - |3 bath-home..a 18,232. sq. ft.
PARADISE ISLAND. Ocean | mature grounds. Bahama
Club Residences. 3 bed, 3.5] room, pool, generator,. security
bath condos with top quality] alarm and. more. Excellent
finishes, harbour and: ocean | condition. Offered unfurnished
views. Starting at $1,850,000. | at $560,000 MLS#5525
REDUCED. Fourplex. _Kool| Cable Beach — 4 bed 3 bath
Acres. 3 — 2 bed, 1 bath units} home: - on = 13,000... sq... ft.
with a 1 bed, 1 bath cottage. | manicured lot.. Swimming pool,
Completely enclosed, excellent | covered patio, carport, laundry
condition. $325,000. | and more. -Call for details.
MLS#5524 MLS#5452
Soldier Road-North Fourplex | Orange Hill —- 5bed 3 ? bath
1-3 bed/2bath, 1-2 bed/1bath, | oceanfront property comprises
and 2-1 bed/1bath units. Full} 2:-separate villas, generator,
occupancy, . monthly - income | rainwater tank, private deeded
$3600. $385,000. MLS#5458 beach,. landscaped gardens,
Love Beach — Luxurious 3 bed | breathtaking:. ocean views.























3.5 bath apartments on] Offered furnished at $1.75
beautiful beach. Prices start. at | Million MLS#5581
$499,000 MLS#0342 BLAIR —.4 bed:3 bath, 2-storey

Cable Beach - Waterfront — 4| home. New roof, large storage












bed 4.5 bath home on .5 of an} shed, security lights, . gate,
acre. Situated in the heart of|irrigation system. Offered
cable beach. within. walking,|:furnished: $450,000.

MLS#5503 ~~: ree
Westridge. — Estate hilltop
home with spectacular island
wide and ocean views! Offered
at $985,000.00
San. Souci - 3,600 4 be 4 bath
home. Formal _ living/dining
rooms, large family room,
study, wood/tiled floors.
Attached 1 bed 1 bath cottage.
$360,000. MLS# 5619

OUT ISLAND HOME
LITTLE EXUMA — New 3 bed,
2.5 bath home on half acre
hilltop lot with beautiful sea
views. Approx. 1,400 sq ft +
800+ sq ft ground floor “room.
Needs some finish work.
Mis #5626 $375,000 .

OUT ISLAND VACANT
LITTLE EXUMA. VACANT
LAND. 0.5-1 acre lots in
beautiful new community with
exquisite ocean and bay views.
Elevations up to 60’. mis #
5568. Lots range in price from
$34,245 to $198,000.

Russell Island — acre elevated
waterfront lot, gorgeous views
$240,000.00 MLS#5478

Rock Sound Acreage! —
acre parcel off Queen's
Highway with easy in house
financing $38,890.00. One acre
parcel starting at $20,000.00,
50 acres $300,000.00

distance to restaurants and
casino. MLS# 5546
MONTAGU VILLAS - 2 bed,
1.5 bath townhouse in gated
community. Renovations
include’ new & _ extended
kitchen, new tiles downstairs,
bathroom upgrade and more.
MLS # 5616 $200,000
Victoria-Courts — 2 bed, 1 bath
750sq ft apartment in secure
and central community. Reno-
vated kitchen, open living/din-
ing room, with enclosed patio.
MLS#5215 $162,000

NACANT LAND
VENICE BAY. Multi family cor-
ner lot. $135,000. MLS#5550
CORAL HARBOUR Residen-
tial lot in new sub-division
$85,000. a - Triplex lot
$90,000.
South Ooean Estates — Lots
starting at $89,500 MLS#5471
Port New Providence — Gated.
canal front community. Pool,
tennis courts, beach access.
Starting at $455,000
MLS#5460
Winton Heights — Large single
family lot ($15,499 sq. ft.) All
utilities Asking $145,000
MLS#5453 :
Off Cowpen Rd. - Commercial
corer lot. Perfect for shop.
6,500 sq ft $85,000 MLS#5527
Cowpen Rd. Commercial.













































3.45 Acres. $600,000. Can be | Andros Beach Colon

split into two 1.72 Acres. | Acreage — 8.5 acre parcel wit

$300,000 each. MLS#5629 road __ frontage 5,000.00

Clearview Subdivision -—|MLS#5596

Opposite Old Fort Bay single} Eleuthera Island Shores —

family lot 163’x 100’ situated in | Ocean view . commercial/
residential double lot on

an | exceptional Phe uiet and private
ae ing $130,000 | Queen's highway! $40,000.00

MLS#5597

Stella Maris — 80’ x 146’ lot

$13,500.00 MLS#5614

Whale Point, Eleuthera —

9,378 sq ft lot near the beach

and the harbour. Excellent for

boaters. Asking $42,000

MLS#5554

Sandypoint Abaco — 50 x 105

With. sea views Asking
000 -MLS#527%

° HOMES
NEW! Treasure Cove. 3 bed, 2
bath home, newly renovated,
furnished, screened Bahama
Room. $385,000. MLS#5081
WEST. Unique estate, 5 bed
4.5 bath main home, pool,
bed, 2 bath guest shitage, 41
bed, 1..bath:. apartment, . pool
cabana. $1,795,000.’
MLS#5372

Tel: 393-8630 ° Fax: 393-8638 8630 ° Fax: 393-8638



THE TRIBUNE







www.HGChristieccom: -

NASSAU HOMES --
New! #NS06121 — Breezy
Hill: Old family home in need
of TLC with 4 bedrooms,* 3
baths, sun room and a 2 car
garage. $650,000

Exclusive! #NS06120
Mount Vernon: Furnished 3
bedroom, 2.5 bath home with
an apartment, pool, deck and

cabana. $520,000 .

#NS06095 — § Sandyport:
Newly renovated, 2 storey
canalfront . home with 4

bedrooms, 4.5 baths, pool. and
2 car garage. $2,000,000

#NS06109 - Vista Marina:
Lovely.3 bedroom, 2 bath home
with central air and pool.
$450,000

"$5834" ~ Monastery Park:
Spacious 3 bedroom, 2 bath
family home on a cul-de-sac lot.

#5690 Eastern Road
Waterfront: Gorgeous 3
bedroom, 4.5 bath waterfront
home with apartment, pool,
dock and boat lift. $799,000

#NS05994 Gambier
Heights: Three story hilltop
home with 3 bedrooms and a 1

bedroom guest “ cottage.
$640,000
#4695 - Port New

Providence: Canalfront home
with 4 bedrooms, 3. baths,
central air, pool and private
dock. $1,800,000

Schedule a viewing on-line
today at HYPERLINK
http:/Awww.HGChristie.com
or contact us at ee 322-
1041 or email HYPERLINK
sales @hgchristie.com

LOTFORSALE _
JUST OFF CARMICHAEL .
ROAD, 9,297.42 SQ.FT,
70.10'X90.87'X138.18' -
$93,630. TEL: 327-4962.

FOR SALE

MONTAGU VILLAS :
RENOVATED CONDO .
FOR SALE BY OWNER. :

2 BED, 1.5 BATH. MEXICAN
TILED FLOORS, NEW

_ KITCHEN WITH RECESSED
LIGHTING, PARTIALLY

RENOVATED BATHROOMS,
WOOD CEILINGS AND

FLOORS. PRIVATE PATIO.
GATED COMMUNITY WITH
POOL

$195,000.00 ONO.
CALL: 394-4732 after 3:30PM
OR 477-7312 ANYTIME.

HOUSE FOR SALE
TREASURE COVE,
2 storey Nassau Model.

597-2592.










- Wwww.gra hamrealestat
OE BST



REAL ESTATE

www.grahamrealestate,com

HOMES

#19 Camperdown, 4 bed,-3 1/2
bath. Lovely, spacious family
home. Large fruited garden
w/pool Quite, safe family
orientated area. Walk-in
condition. REDUCED!
$850.000

#1897 Dodge Rd, 4 bed, 3
bath. Spacious &- beautifully

renovated. Guest wing w/
separate — entrance. Child
friendly enclosed pool &
garden. Well, alarm = &

generator. $560.000

#1900 Blair, 3 bed, 4 bath.
Spacious & well built house
sitting on 2 double lots. Open
pian, living/family/kitchen.
Pantry, hobby room, laundry
room & insulated attic space for
storage. $599.000.

#177 Winton Highway, 4 bed,
3.5 bath, bright spacious home
w/ spectacular hilltop views.
Large living room w/ fireplace,
remodeled bathrooms &
spacious guest wing. 2 floors w/

sea views, pool & patio.
$795,000.

: CONDOS
#1895 Chertsey, Cable

Beach, 1 floor, 2 bed, 2 bath,
spacious condo. Great location
on Cable Beach. Lovely pool
deck which overlooks the
ocean $279,000

#1056 West Grove Phase 2, 2
bed, 2 bath townhouses. Well
constructed, in sought after
area. 2 storey w/ spacious
interior. Communal pool,
sundeck w/ Jacuzzi. $318,000

#1730 Royall Beach Estates
Condo at. South Ocean -
Luxury 2 bed 2 bath oceanfront
condo. Spacious & aenaly
decorated. Fully furnished.
Family island feél $485,000

#1856 Sandyport - 3 bed, 3
bath condo. Third floor w/ sea
views from bedroom, living area
& terrace. Spacious & airy.
Being sold furnished $579,000

VACANT LAND
#433 Hardingsville. Thinking
about constructing a block of
condos 1/2 Hardingsville might
make an_ ideal location.13
available lots ranging from 12,
963 sq. ft. to 17,914 sq ft. w/
prices ranging between
$179,000 & peaking at
$215,000 jl buyer's legal
fees and 4% stamp tax).

Graham Real Estate
Call 356-5030 or
visit our web.site at



a n
TSE A





from Chub Cay Club $850,00







REAL ESTATE

www.grahamrealestate.com

#1914 South Beach, multi-
family vacant lot w/utilities in
place, 8,815 sq. ft. $90,000

#509 East Shirley St. Located
next to Harbour Bay Shopping
Centre, accessible from both
East Bay Street & East Shirley
Streets $18 per square foot.
4.132 acres or 179,990 sq ft
Commercial zoning $3,240,000

#437 Old Fort Bay, 150 ft. on
the beach & about 250 ft., .858
of an acre. $3,650,000

#1720 Chub Cay - 2.3 acre of
pristine beach front, 2 mins

#1814 Charlotteville. Brand
new subdivision, northern side
of Windsor Field Rd. These lots
are an excellent price for
location nr. Lyford Cay & Old
Fort. Staring at $90,000



‘Rentals
#499 Paradise Island, 3 bed, 3
bath, harbourside-condo. World
class facilities, oversized zero

entry pool, fitness — centre,
stunning ocean views.
7,000p/m

#1877 Sandyport, 3 bed, 3 1/2
bath, canalfront cottage w/own
dockage & beach, open plan
living/dining/kitchen 6,000p/m

#1869 Sandyport, 4 bed, 4
bath, large family home on a
beach lot w/oversized dock.
Impeccable details & stylish
furnishings 10,000p/m

#1021 Sandyport, 4 bed, 3 1/2
bath, Spacious, good condition.
Bright interior. 2 shady porches
overlooking canal 5,000p/m

#1921 Sandyport, 3 bed, 3
bath, Brand new, 2 storey
townhouse, enormous rooms,
lots of natural light.5,000p/m

#267 Cable Beach, 2 bed, 2
bath spacious. Screened in
porch. Communal pool w/
ocean view & sea access
2,000p/m

#1902 Eastern Rd, 1 bed, 1
bath, efficiency. Situated on an
Eastern Rd_ estate this

immaculate rental boasts
gorgeous ocean views.
1,000p/m

#580 Eastern Rd, 3 bed, 2
bath cottage, located on a
gated beachfront estate. Use of
dock & beach, w/ lovely ocean
views. $3,500p/m

Graham Real Estate
Call 356-5030 or
visit our web site at







TAN
He
ERA

DUPUCH REAL ESTATE
ware oradupuch.com

NASSAU LOTS

Eastern Road:

Development property
comprising of 4.4 acres, perfect
for a private
subdivision/community
development. $3,637,000.

3666

3654 Blake Road: 7.052 acres
ideal for commercial use or
development of Townhouses.
Close to shopping districts and
the airport. $2,100,000.

3707 Old Fort: Gorgeous lot
(12,000 sa. ft.) with all utilities,
a 35 ft. dock already installed,
approximately 100'+ on the
canal. $775,000.

3693.Watercolor Cay: 9,260
sq. ft. with 73' ft. on. the
canalfront and dockage to
accommodate a 50’ boat.
$460,000.

3630 Sandyport:
Approximately 8500 sq. ft.,
canalfront and secluded. Great
gated community. $376,000.

3510 Yamacraw: 20000 sq. ft.
vacant lot situated on the
eastern district of New
Providence boasting fantastic
views of the sea. $364,000.
3653 Camperdown: 1 acre
residential plot, peaceful
neighborhood. Build your
dream home today and enjoy
plenty of privacy and seclusion.
$310,000.

3618 Indigo: 8230 sq. ft. lot
situated in Nassau’s newest
ated community. boasting
antastic unobstructed views of
the sea. Amenities include,
underground utilities,
community pool, tennis court
and playground. Minutes from a
fabulous beach. $299,000.

3571 Westridge: 5 lots zoned
as single family, 17220 sq. ft.-
27108 sq. ft. Priced to sell and
starting at $225,000 up to
$270,000.

3585 Orchard Terrace:
Residential 100639 sq. ft. lot.
$195,000.

3736 West Bay St: Lovely
residential lot (10,308 sq. ft.)
available in an up and coming
neighborhood. $157,000.

3621 Indigo: Elevated lot with
amenities such as underground
utilities, community pool, tennis
court and playground - just a
few steps away from the beach.
$150,000.

CALL ERA Dupuch
Real Estate
Tel: (242) 393-1811 or ~
Fax: (242) 394-1453
‘Info @eradupuch,com -:
www.erdbahamas, om:<

ont










PAT STRACHAN | PAT STRACHAN

Realty Sales

HOMESITES
Blue Water Cay, new gated
subdivision located on Fox Hill
Road South near to Yamacraw
Beach Estates - all lots are
water-front, fully secured; size
75x175, prices start at
$255,000.00-owner _ financing
available.

Southern Seas, new gated
subdivision located on Bacardi
Road, next to Venice Bay, sizes
start at.80x100, water-front lots
available. Marina, 24hr
security; introductory prices
start at $80,000.00

Old Fort Bay, next to Lyford

Cay, gated 24hr_ security,
water-front, beach-front and
canal. Lots 75x170 start at
$375,000.00; homes start at
$1,500,000.00.

Venice Bay, located on
Bacardi Road, fully developed
residential community — with
Marina, tennis courts, pool and
plans for hotel and marina.
Residential apartments and
commercial lots available; sizes
100x100 start at $95,000.00.

South Ocean Estates-newly
developed single-family,
duplex, and multi-family sites
available-100x117 from
$89,500.00. Take advantage of
introductory price!

Westwinds new subdivision,
located in Love Beach,
surrounded by million dollar
homes; duplex lots 60x100 start
from $80,000.00. Buy now
before price increases.

APARTMENT SITES/
COMMERCIAL SITES
Westwinds Subdivision
60x100-Duplex Lots starting at

$ 80,000.00.

Dorsettville Subdivision,
located off East St. South,
duplex lot — 50x100; asking
$50,000.00 ;

Blue Hill Road near South
Beach — Multi-family lots 62.5
ft.x157 ft.-asking $95,000.00

Seabeach Estates ve
attractive 2 bedrooms, 2 ?

bathrooms, 2 store
townhouse, swimming pool,
fully furnished. Very upscale

area not far from the beach —
Price $ 290,000.00

Carmichael Road, 19 ACRES,
near Flamingo Gardens Police
Station, over 1,400 ft. of road
frontage, suitable for a housing

development. Asking $ 5
million.
-sFel: 323-1983




Harold. tefigiey

;
t [
;





Really Sales
West Place Subdivision
100x150 nestled between
Sandy Port. Marina = and
Westridge Estates - Large
Homesites starting at $
150,000.00.

Off Soldier Road East — 3,675
Sq.Ft. large two storey
apartment complex consisting
of 4 bed, 2 bath and (3) 1
bedroom apartments near to
commercial establishments —
asking $425,000.00.

ES

Bel Air subdivision, large 4 -
bed, 2 ? bath, living room,
dining room, family room, tv
room, kitchen and utility room.
Recently painted and
renovated, reduced to
$225,000.00. Offers
welcomed.

Portland Bays Carmichael
Road- New 3 bedroom, 2 bath
residence $200,000.00

Off Faith Ave. South,, near
Flamingo Gardens large duplex
with (2) 2 bedroom, 1 bath and
2 bed, 1 bath units. Appraised
at $215,000.000- Reduced to
$185,000.00.

Homes priced under
$150,000.00 and Lots under
$60,000.00 needed.
Tel: 323-1983

Harold Longley

| LOT FOR SALE
TREASURE COVE

76X100
$135,000 NET
TEL: 557-2592.

FOR SALE BY OWNER
(NO Realtor/Agents Please)
Spacious 2-bed, 2-bath

juplex Apt, 60x110
Well kept. Enclosed.
B/Bars and hurricane shutters.
$195,000.00
Serious enquiries need call.
Tel 392-8390(H), 457-3739(C)

WANTED
URGENTLY

Vacant Land
Houses, Duplexes/3-plexes
Apartments
Commercial Properties
We buy and Sell

Please call Ludec
-393-1183,.0r 557-3225

anytimes): ? minst



PAGE 32, THURSDAY,-MAY. 11, 2006

CLA. Christie
Real Estate

+.CREAGE:
EASTERN ROAD:#2219 4.4
acres waterfront property wiht
dock and house in need of
repairs. Excellent location for

high income housing.

$3,870,000.

GLADSTONE: #2223 4.83
acres in prime location.
$1,500,000
HOMES/APARTMENTS

PARADISE ISLAND #1327 2
bedrooms 2-I/2 baths furnished
townhouse. In gated commu-
nity, sea views, pool.
Rolldown shutters. $600,000.
Boat available at $65,000

TWYNAM HEIGHTS: #2225
12,860 s/ft lot. Within walking
distance to beach. $115,000.
SANDYPORT: Waterfront lots
with boat dock. #2240 12,256
s/ft $575,000;

#2240A 21,486 s/ft $950,000;
#2240B 13,010 s/ft $650,000.
JACARANDA: Opp. Old Fort
Bay-in gated community. 95' x
120' $120,000.

SANDYPORT: In _ security
gated community with pools,
tennis courts, beach. On

beautiful Ponciana Cay: #2239
5,972 s/ft $295,000; $2239B

WEST BAY STREET: #2228 Sore

Beautiful residential home
consisting of Main House,
Guest Cottage, Beach House
and Maid's Quarters. Situated
on 2-l/2 acres with 300' of

beachfront. Numerous
amenities including heated
pool, 2-car garage plus 3-car
garage, water softener,
rainwater tank... and more...
Must see to appreciate!
$8,500,000.

EASTERN ROAD: #2222

Tucked away in private cul-dae-
sac beautiful 5 bedrooms 6
baths multi-level house.

Panoramic view of the sea;
pool; 2-car garage; maid's
quarters. $1,175,000.

MISTY GARDENS: #2231

DUPLEX with 2 bedrooms 1
bath on each side. Nicely
landscaped enclosed grounds,
own water system, central air,
security bars. Good price at
$229,000.

PARADISE ISLAND: #1327 2
bedrooms 2-1/2 baths

Townhouse in harbourfront
community. Pool, central air.
$600,000

FIRE TRAIL ROAD: #0046
Recently built duplex with 2
pact 1 bath each side.
23
STEWFISH DRIVE: #1895
Spacious duplex on 100' x 100'
lot. Room for additional units.
Builiding has central air, tiled
floors. $048,000.
STAR ESTATES: #0045
Recently built 2,148 s/ft duplex
with 2 bedrooms each side. On
7,000 s/ft lot. Covered entry
orch, paved driveway. Good
uy at $267,000.
BORIS CLARIDGE SUBD:
#0035 Newly built FOUR PLEX
with three 2 bedroom apts.
each with utility room and one 1
bedroom unit. Property is fully
enclosed landscaped with
paved parking. All units rented!
Asking $375,000.
JACARANDA Brand new tr-
level towhouse in gated
community. 3 bedrooms 3-V/2
baths. Wooden floors upstairs,
tiled floors downstairs. Pool
and gazebo. $475,000.
SINGLE FAMILY LOTS:
EASTERN ROAD: #752
18,287 s/ft "Island" lot. Suitable
for two family houses.
$305,000.
CALL CA CHRISTIE

326-4800 , 325-3957



s/ft_ $340,000; #2239H 9,662

s/ft_ $475,000;

#2239K $630,000.
COMMERCIAL LOT:

WULFF ROAD: #2227 70' X
130' in great location.
$153,000.

MULTI-FAMILY LOTS:
JACARANDA 160' x 140' in
gated community opp. Old Fort
Bay. $250,000. _
DELAPORTE: #980 - 124' X
85' X 82' 101' lot near
Sandyport. $216,000
LONG ISLAND: #2184 -4
bedrooms 3-I/2 baths on 3 acre
hilltop — lot. Private beach,
fantastic sea views. 7,500 sq ft

of living space, 2 car garage.
$1,400,000.
EXUMA: #2221- Seven acre

private Island with deep water
access and excellent elevation.

$793,400.
FREEPORT: #2220- In
Windsor Bay on Grand

Lucayan Waterway 100' x 125'
lot. $140,000.

ABACO: #2229 -In Treasure
Cay - residential lot with access
to beach. $59,900.

FOR RENT
MONTAGUE HEIGHTS: #781
Immaculately kept 3 bedrooms
2-/2 baths in lush gardens.
Tastefully furnished. Electronic
entry gate. $3,500 p.m.

VISTA MARINA: #1662
Renovated spacious 2
bedrooms 1-1/2 baths
townhouse. Gas and Water

included $1,800 p.m.

TROPICAL GARDENS: #2153
Six brand new townhouses. 2
bedrooms 2-I/2 baths each,
electronic entry gate, security
system. Furnished. $2,000
p.m.

ORCHARD TERRACE: #2207
Near Blair Estates 2 bedrooms

1-/2 baths townhouses in
excellent condition. Pool.
Furnished. #1,350 p.m.

TREASURE COVE: 3

bedrooms 2 baths house in
galed beachfront community.
urnished. $3,000p.m.

FOR THESE AND MORE
CALL CA CHRISTIE
REAL ESTATE
326-4800 , 325-3957








a oS xe
(JACK ISAACS }
a aR EST, 1978 a

2; se
SVE RARIAMAS POO



LOTS
SOUTH .OCEAN LOTS -
Residential: lots starting at
$89,000.00. and Multi-Family

.lots starting at $150,000.00

OCEANFRONT - OCEAN
CLUB ESTATES: Exclusive
location with Beautiful Harbor
views, dock & mooring.
Approx. 38,000 Sq. Ft.
$5,300,000.

SAUNDERS BEACH Acreage
COMMERCIAL - Direct access
to Saunders Beach, 6.5 acres
$2,100,000.00

HOMES
CAMPERDOWN: 4 bed, 3
bath home situated on quiet
street off Eastern Rd., separate
living room, dining room, large
terrace off the living area ideal
for entertaining, brand new
kitchen with granite countertops
and brand new appliances.
Central air, alarm system,
fireplace, storage room, 3-car
garage.

The grounds are landscaped
and fully enclosed.
$579,000.00.

OCEANFRONT - EAST BAY
ST: Lovely 4 bedroom /.4
Bathroom, elevated waterfront
home with Montague Bay on
one side, canal with Boathouse
on the other. Located in the
exclusive gated community of
‘Little Hermitage’. Home
comes unfurnished with staff
quarters and 3 car garage.
$2,990,000.00

THE GROVE -_ W.BAY
STREET: A __ Beautifully
Landscaped enclosed yard

surrounds this 3 bedroom, 2
bath home, with pool and patio.
$450,000 Gross

RENTALS
THE GROVE -_ VISTA
MARINA: Spacious Home in
the West, with 3 bedrooms, 2
bathrooms with a __ large
enclosed yard. $3,800.00 per
month

Old Fort Villa: Four Thousand
Sq. Ft. beautiful 4 bed, 4.5 bath
villa has separate living and
dining rooms, large covered
patios, all three floors have
separate central A.C. Private
enclosed courtyard lush
flowering trees surrounding
large pool. Private roof- deck
ideal for sunning. 85 ft. dock, 2
car garages. Totally enclosed
with excellent security and
anoramic views of Old Fort
ay with beautiful sunsets.
Monthly Rent: $10,500.00

2 JACK ISAACS

REAL ESTATE CALL TODAY:
322.1069 OR EVE: 362.6932
www.bahamasproperty.com







‘PARADISE ©
Treasure 1216S-
Furnished: 3 bedroom ./ 2



bathroom “Paradise” model.
Open: plan, custom -kitchen,
crown moldings, Ig. master

suite w/ cedar lined walk in
closet, 1 car garage and more!
$409, 000 Gross

Ocean Club Residences and
Marina- Paradise Island’s
most prestigious residence.
First 2 buildings sold out! Don’t
miss this unique opportunity!
Starting at $1,850,000 Call for
details!



Victoria_Court _2216-_ Partly
furn. 3/2 condo centrally
located in a secure, gated
community with pool! $240,000
Gross

High Vista 1179- Furn. 3/2.5
family home on large, corner
lot. Large kitchen, bonus room,
rear patio and.shed. $301,000
Gross

Yamacraw Road East 2214-
Large multi family property with
2 units (currently rented) and
approval for 6 more! Only
steps to beach! $500,000
Gross

Sear’s Road 1187- Furnished
4/3 home ideal for residential or

commercial use. Great
location, ‘solid and in great
condition! $379,000 Gross

($3,500 per month rent)
Camperdown _1164-_ Partially

furnished 4/3 on_ elevated,
enclosed property. Custom
kitchen, top. of the line

appliances, newly tiled, custom
moldings and more! Reduced
$475,000

Sandyport _2167- _—_‘ Partially
furnished, 4/3.5 canal front
townhouse with enclosed
Bahama room, spacious patio,
dock and more! $599,000

Ocean Place _2143- Paradise
Island's newest, most exclusive
residence. World class finishes
and amenities! Now taking
reservations. Starting from the
low $800,000’s to over 2
million.
-Lots-

South Ocean Estates-_ Large
single and multifamily parcels
near development boom! Don’t
miss out! Call for pricing!
Marsh Harbour Abaco
AB4029-__2 large oceanfront
parcels with Sea of Abaco
frontage! US$545,000 each
Long Island L14004/5-
Beachfront near Stella Maris
starting at $150,000
Westwinds 6019C- Multi family
lots starting at $80,000:

Exclusive Lubber’s Quarters.

Abaco 8047- 1 lot left, 90 x 126
with dock and beach access.
$69,900

For more sales listings call



Paradise Real Estate 325-3000 |

Or visit
www.paradisebahamas.com,







RESIDENTIAL
CARMICHAEL RD! Hard to
find. multi-family zoned lot off
Carmichael Road in a good
location. Property measures 50'
x 135'. Web Ref: 10325. Price:
$75,000

PRINCE CHARLES DRIVE!
Completely renovated cozy 1
bed, 1 bath condo in gated
complex with. new central a/c
and new kitchen. Features
include security screens and
ceramic tiles. Web Ref: 4781.
Price: $98,000

FIRE TRAIL RD! Centrally
located on expansive corner lot,
4bd/2bt —_ranch-style duplex
represents tremendous
investment opportunity. Open
plan living & dining areas w
well-equipped kitchen spaces.
Features include tile flooring,
cozy breakfast bar & central
a/c. New appliances included.













Web Ref. 9977. Price:
$244,000

SEA BEACH ESTATES!
Charming. spacious family

home in quiet area completely
renovated with new _ open
kitchen & tiled _ floors.
Amenities include laundry
room, new central a/c, enclosed
yard, carport and lots of
closets. Offered furnished. Web
Ref: 10243. Price: $295,000
Also for Rent $2,500 p/m

OAKES FIELD! Investment
property located on dead end
street. Property has _ six

apartments, 4 two-bed, 1 bath
and 2 efficiency apartments.
There is additional land for
more apartments. Large
enclosed patios, laundry room,
and water & gas are included in
these semi-furnished
apartments. New roof and new
ceramic tiled floors. Web Ref:
10199. Price: $369,000

WESTRIDGE ESTATES!
3bd/3bt Gardenia model now
available in pre-construction
phase. Fully refundable $5,000
deposit reserves 1 of 12
properties. Amenities include
state-of-the-art kitchen, master
suite with Jacuzzi, cathedral
ceilings, two-car garage,
washer/dryer & central air. Web
Ref: 10061. Price: $479,000

GROVE ESTATES! Investment
Property! Unit in lovely
community with swimming pool
and children's play area.
Features quality fixtures and
furnishings with a _ fully
equipped, modern __ kitchen.
Ceramic tiles are on ground
floor w carpeting in bedrooms.
This unit will come with a long-
term lease. Web Ref: 9685.
Price: $550,000

Contact Bahamas Realty Ltd.
Ph: 242-393-8618
www.bahamasrealty.bs



YORKSHIRE!

THE TRIBUNE
G BARGAIN



BAHAMAS —
KRALL EN
REAL CY

ton

LAUREL BEACH! = 3bd/3bt
newly constructed villa comes
with 65’ of frontage on Love
Beach. 1,700 SF of living space
includes. expansive __ family
room, formal-dining ‘area and
open kitchen. Property will be
ated. Web Ref: 9699. Price:
799,000

RENTALS
SEA BEACH ESTATES! Brand
new spacious - 2bd/2.5bt

townhouse. Amenities include
central a/c, washer/dryer, wired
for. security system, | open
kitchen w. .dishwasher, _ tiles
downstairs w wood stairs and
carpet upstairs. Offered with
appliances. Web Ref: 10283.
Price: $2,000. p/m

TROPICAL GARDENS! Newly
constructed 93bd//2:5bt unit
spans two stories and features
oversize tile floors and wooden
ceilings, as well as upgraded
cabinets and countertops,
breakfast bar, step-up tub in
master bath, ceiling fans and
central air. Furnished. Web
Ref. 10101. $2,500 p/m

3bd/2bt home
has much to offer in great
neighbourhood w_ breakfast
room, family room, living &
formal dining room. Features
modern corian counter tops,
solid wood cabinetry, _ tiled
floors, security bars, tongue
and groove ceiling, wall a/c
units, storage shed & spacious
patio. Web Ref: 10344. Price:.
$3,800 p/m

BLAIR ESTATES! 3bd/2bt
home, newly renovated with
pool & entertainment facilities.
Central air, 18" tile floors, 2-car
garage, fenced in yard. Web
Ref: 6125. Price: $4,500 p/m:
CAVES POINT! Private, gated
community offers residents

.luxurious oceanfront living and

convenient access to upscale
shopping and_ restaurants.
3bd/3bt ground floor unit opens
to covered terrace, beach and
community. pool. Tastefully
decorated interior boasts tile
floors and vaulted ceilings, as
well as modern kitchen &
master with private balcony.
Web Ref: 6923. Price: $5,500

p/m

SANDYPORT! Home nestled in
fully enclosed well landscaped -
yard features split-level floor
plan w large bedroom ensuite
upstairs & one bedroom ensuite
downstairs. Also guest cottage
along w/garage and _ finished
attic storage, laundry room w
full bathroom, outdoor shower,
large patio, gazebo and built-in
barbeque pit. Fireplace,
travertine tiled and hard wood
floors, vaulted ceilings, working
fireplace, lots of closet storage
and dock space makes this a
complete package. Web Ref:
9701. Price: $6,800 p/m

Contact Bahamas Realty. Ltd.
: 242-393-8618
www. bahamasrealty. bs





THE TRIBUNE



FOR SALE
WULFF ROAD: 2 Commercial
Buildings $450,000.

BARNARD ROAD: 22,131sq.ft
165,000

Phone:328-2797
BUNCHES, LONG ISLAND
32-ACRES

. PRIME FARM LAND
W/2-STOREY BUILDING TO
BELTCOURSE, 50’X150’

$1,310,000 OR BEST OFFER
341-3511, MR KNOWLES.

LOTS FOR SALE
OFF WEST BAY ST -

GATED.
SINGLE MULTI-FAMILY
LOTS. —
POOL, TENNIS & BASKET
BALL COURT.
START @ $90.000.
PHONE 323-0664

PLEASE LEAVE
MESSAGE.

’ FOR SALE
PALMDALE.
Triplex (2) 2 bed, 1-bath +
1-bed, 1-bath.

Near Queen’s College, nice
home, 3-bed, 3-bath +
Office.
394-8651.

HOUSE FOR SALE
4 BEDROOMS, 2 BATH,
DOUBLE CARPORT,
DOUBLE LOT, KOOL ACRES.
BY OWNER - :
324-1396 ANYTIME.





#66 STRACHAN’S SUBD 2-
bed, 1-bath Apt. Water, b/bars,

ceiling fans, A/C, and blinds
included. $650 a month, $300
sec dep. Phone 394-0469, Cell
422-9876. ;

1&2 BEDROOM
SPECIOUS APTS,
FOXDALE. .
PH: 364-5691 Home After 5pm
325-1119 (wk). :

1 BEDROOM APARTMENT:
Includes: Water, Fridge, Stove,
A/C, Ceiling Fans, Sec Bars,

Hurricane Shutters,Modern
colours,Gated
Property,Landscaped, Sepia

persons Max, No Kids.Fire Trail
East. $600.00 per month. First
& Last ,Sec dep. $400.00.
Tel. 341-0962 or 455-5653

1 BEDROOM APARTMENT
Taylor Street, Nassau, Village
fridge, Ceiling fan, basic cable, .
water, dining room set. $500.00

per month. Just first and last

month,
$300.00 security deposit
Tel: 327-1530/702-1524

1-BED APT, fully furnished,
A/C, water included. $490/pm
No pets, no kids. Soldier Road.
Tel 357-8106.

BRAND NEW SPACIOUS
(2) 1-bed, 1-bath on Bellot
-Road:-$700;- First & last, $500
sec. Call*356-2109/425-3003.

;





CHECK YOUR AD: Read your ad. Any errors must be reported the first
publication. Should the error inhibit response, credit will apply
only fo the run date. The Tribune is not |
esults from publication.

day

that




ee

1-BEDROOM APT, Carmichael
Breezers off Bellot Rd. A/C,
light, water, phone, cable sec
bars included. $950/pm 1st, last
+. $300 sec | dep.Tel 436-
9369/302-8459.,

1-BEDROOM APT, FOX HILL,
$450, LIGHT; WATER &
CABLE. PHONE 544-4309.

1-BEDROOM : APT, _ fully
furnished, water and light
included. Asking $430 per
month. Contact!324-7352.

1-BEDROOM APT. For Rent
Light, water, fridge & stove
$640 per month, $160 per
week, :

Call Rosey Roll. at 361-1828,
361-8637 or 341-7352.

1-BEDROOM : FURNISHED
APT, fully furnished, A/C, water
& light. soldier Rd. $550/pm. No
pets/no kids. Tel 357-8106.

1-BEDROOM - FURNISHED
APT. Nassau East. $630/pm.
No. children/pets. Phone 327-
5472.

1-BEDROOM furnished
Efficiency, air-condition, cable,
light. and water included, Sea
Breeze Estates, $650/pm. Call
324-1991. Single female only
need apply.

1-BEDROOM unfurnished Apt
$450/mth. Off Fox Hill Road.
364-5944 after 5pm. :

1920sq ft space available for
office, travel agency, insurance
warehouse, etc. in business
section of Wulff Rd,;$3,000 per
month. ‘ ‘

Tel 357-5703, 326-3775.

2 BED 1 BATH A[PT, WATER
AC AND CABLE ‘INCLUDED
$650.00 ST, LAST AND
SECURITY. JUNE :ST, KOOL
ACRES MR.MORTIMER 436-
2630 323-8836:

2 BED 1BATH APT -
SPIKENARD RD OFF
CARMICHAEL RD. _ UNIT
COMPLETE WITH CEILING
FANS, MIMI BLINDS,
SECURITY BARS, WATER,
CABLE & INTERNET READY
$700.00 FIRST AND LAST
MONTH AND $400.00
SECURITY DEPOSIT
REQUIRED. SERIOUS
INQUIRIES. PH 424-1375

2 BED ROOM APT
$700.00/MONTH, 1ST/ LAST
AND SECURITY DEPOSIT
CALL AFTER 5PM-7PM.
LIGHT AND WATER
INCLUDED.
NO PETS/CHILDREN
PH: 323-5808, 323-5770,
5PM - 7PM .

2-BED, 1-BATH unfurnished
Apt $690 Soldier Road East,
392-4330, eve 392-4330.

'|2-BED, 1-BATH unfurnished

Apt, $690, Soldier Rd East. -
Tel:394-1441 morning,
392-4330, evening.

BRAND NEW SPACIOUS
2) 1-BEDROOM, 1-BATH,
700, FIST AND LAST, SEC
$500 ON BELLOT ROAD.
CALL 356-2109,°9:5, OR
425-3003.





2-BED, 1-BATH, semi-
furnished, fridge, & stove,
central air, washer & dryer on
site full sec. Boat Swain Hill.
Call 362-1586 after 6pm. $900
per month, only serious calls
accepted.

2-BEDROOM APARTMENT
650 per month. $400 sec dep .
Call 393-3539.

2-BEDROOM APT Newly built
$600.00. A/C, b/bars. Water
included. Eneas Corner. 434-
2899, Mrs Pratt.

2-BEDROOM = APT, fully
furnished, new fridge, stove,
washer, dryer & air cond .
Water included. $800 monthly,
first, last month & sec dep. Tel
535-1256, or 434-1126. Serious
inquires only.

2-BEDROOM partly furn apt in
Smith's Cove, AC, sec bars,
water, fridge and stove incl.,
$800 per month + $500 sec
dep. Phone 323-4360.

2-BEDROOM, 1-BATH APT for
rent in a nice, quiet area, $700
per month, $300 sec, 24-hrs
alarm system. Water, A/C in
master - bedroom _ included.
Phone, TV & cable ready. Tel
364-8131. -

2-BEDROOMS, 2 1/2 BATHS
basically furnished Apt., City
$3,000 per month. First & last
month, one month security IN
ADVANCE. Serious inquiries
only. Call 327-4316 leave msg
Email:

citycomfort_apt13 @ yahoo.com

3-BED, 1-BATH APT. Can be
used as office or storage.
Tel: 393-0868, 393-393-5976

3-BED, 2 1/2-BATH
SEA BEACH & WESTRIDGE,
furnished & semi-furnished.
Phone 327-4792.

3-BED, 2-BATH HOME.
Bamboo Town, South Beach,
$950 per month. ist, last &
$500 dep. Water included.
427-1108

3-BED,2-BATH HOUSE, c/air,
c/fans, b-bars, fridge, stove,
washer, dryer. Fenced yard
$2,000/pm. Will negotiate. 341-
5192, Spm-11pm.

5 MIN WALK TO BEACH
Leeward East, 2 bedroom, 1
bath, stove and fridge. A/C burg
bars, blinds, — utilities “ not
included. $800/mth. Phone
364-5827.

Apartment For Rent
In a quiet, mid-eastern area .
One Bedroom Apartment for
Rent Fully Furnished
Lights and Water Included
Fenced In, Security. Screens
Cable Ready Telephone
$750.00 per month.
Call 434-8408 or 544-7744

FOR LEASE
Seabeach Estates, West Bay
Street. Duplex Townhouse - 2-
bed 2 1//2-bath, full size
kitchen, dining, living and
laundry. Security system,
burglar bars, central A/C,
fridge, . stove;, washer, dryer.
$1550/mth. Phone 323-2834.

PS ek re ge te te



Available June 1st 2006
For Rent with lease

Off Mckinney Drive on
Carmichael Road 2 brand
new 1 bedroom 1 bath

apartments $675.00 per month
$400 security deposit. Large
spacious bedroom a/c in
bedroom only, fridge, cieling
fans stove, blinds, enclosed
yard, water included, near bus
route and nice quiet area.
Sorry No Pets. 1st, last month
rent and security deposit
required. Phone 3613837
Leave a message

BAY STREET PARKING
SPACES AVAILABLE

AVAILABLE NOW!!!) RENT
PARKING SPACES ON A
YEARLY _OR MONTHLY
BASIS, GREAT SAVINGS FOR
ANNUAL LEASES. PERFECT
FOR INDIVIDUALS OR
COMPANIES IN THE SHIRLEY
& BAY ST AREA. LOCATED
ON BAY STREET NEAR
VICTORIA AVENUE, NEXT TO
TRADITIONS.

CALL NOW BEFORE ALL
SPACES ARE OCCUPIED -
FOR PRICES - - GROUPS
GIVEN GREAT DISCOUNTS -
CALL TEL# 328 - 2366 OR
322-7419

BEAUTICIAN BOOTH
available for rent. In a very
busy location. Must have own
clientele Phone 322-2736, or
454-4817.

BEAUTICIAN FOR RENT IN
HIGH TRAFFIC AREA. THESE
SERVICES ARE_IN GREAT
DEMAND FOR THIS AREA.
MUST ALSO HAVE OWN
CLIENTS. CALL 364-2819.
SERIOUS PERSONS ONLY!

BEAUTIFUL WOODEN
CEILINGS, spacious new 1/b,
1/b & 1 bath . Millar's Heights
$550/pm, incl water & cable.
Pls call 327-5697, 457-2200 or
322-5948. :

BOOTH FOR RENT
MUST HAVE CLIENTELE $80.
PHONE 325-1082 .

BRAND NEW 1 3-bedroom, 2-
bath Condo, ON BELLOT
ROAD, $1,500, FIRST, LAST,
AND $1,000 SEC. CALL 356-
2109, 9-5 OR 425-3003.

BRAND NEW APARTMENT
on Sea Breeze Lane, 2-bed, 1-
bath. Washer, dryer, A/C,
down. $750 per monht. Call
324-6891 after 6pm.

BRAND NEW _ EXECUTIVE
APARTMENT FOR — RENT
CORAL VISTA, CORAL
HARBOUR. 2-BED, 2-BATHS,
A/C, WASHER, DRYER,
FRIDGE, STOVE, WATER
INCLUDED. $1,200 PER
MONTH.

TEL 422-3486, 362-1676.
SPACIOUS TOWNHOUSE
WESTRIDGE, fully furnished
with tennis court pool &
BASKETBALL COURT. $1,500
PER MONTH. PHONE 341-
8808(D), 327-0172(E).






BRAND NEW, ONE BED

APARTMENT _ IN VICTORIA
GARDEN, OFF GLADSTONE
ROAD. INCLUDING WATER,
LIGHT, GAS, FRIDGE,
STOVE, CEILING FANS &
BURGLAR ;BARS, $680/PM,
FIRST & LAST: MONTH RENT
+ $440 SEC DEP REQUIRED.
AVAILABLE, FOR VIEWING
MAY 15, CONTACT 302-8479,
OR 426-2295.

BRAND NEWS 1-BED APT
PARTIAL FURNISHED
CENTRAL AIR & WATER. 325-

2424(D) .

392-3251 (E)

CABLE | BEACH.
OCEANFRONT APARTMENT
IN IMMACULATE CONDITION.
2-BEDS, 2-BATH, MODERN
KITCHEN, SUITABLE FOR
PROFESSSIONAL PERSON/S
SWIMMING ° POOL IN
GARDEN SETTING. | NO
CHILDREN,’ | NO PETS
ALLOWED $2,200.00 PER
MONTH
TEL
; 327-5824

CHIPPINGHAM AREA
Spacious 2 bed/{bath
Fully furnished
No kids please!
$750 per month
Water included
356-0886/326-8220

CHURCH A.V.N. Apartment
#6, Yellow and white, one
bedroom, kitchen, front room,
etc. $725 to move in, $275/pm.
For information call 394-7317,
322-8895 ask for; Max Alain

CLOTHING BOUTIQUE
SPACE FOR RENT
HAS ANOTHER STORE iN
THE SAME BUILDING
CLOTHING BOUTIQUE
ALREADY SET UP.
PHONE 455-9239, 356-3801.



COMING TO ORLANDO

Tired of staying in stuffy hotels.

| have luxurious 4 bed, 3

bathrooms vacation home,

living, dining, den, Secroriing
ool. Near airport, Disney, FI
all, all other attraction.

Room starting from $65/night.

Bahamas: 356-7484,

US: 1-818-470-7237.

COMMERCIAL LOT
FORLEASE- -
MAIN FOX HILL RD, 50X200.
PHONE 364-4961.

CORAL HARBOUR, furnished

efficiency, water, light, A/C,
washer/dryer .& cable TV
included, $550 per month, first,
last, $300 dep. Phone 362-
2058

LAND FOR LEASE
MAIN FOX HILL RD. - 50x200
Tel 364-4961.

THURSDAY, MAY 11, 2006, PAGE 33

Telephone







Cowpen Road, newly built
1 bed room apartment, $600
per month plus security deposit,
very spacious, water
included, quiet area. Must see
to appreciate call 502-8362
day and 341-1663 evenings.

COZY COTTAGE 1-bedroom.

FREE cable, furnished, pool

access, Gated. off Village

Road. Lil Orchard. $950/MTH.
Call 324-7895

EFFICIENCY FOR RENT. Fully
furn, all utilities incl. $150/wkly,
ist, last & $400 sec dep.
Phone 326-2422, 8am-4pm.

EFFICIENCY SMALL, SINGLE
UNIT, OFF EASTEN ROAD .
NEAR MONTAGU, $550
MONTHLY. ALL UTILITIES
INCLUDED. CALL 393-5778,
LEAVE MESSAGE.

EXECUTIVE HOMES
FOR RENT
5 Bed, 4 bath, $6,000
3 bed, 3 ath, $3,500
2 bed, 2 bath, $4,000

2 bed, 2 bath, $1,500
393-0868, 393-1110, 454-1230

FOR RENT
Fridge, stove, washer, dryer,
aircondition, sec screens large,
enclosed patio spacious back
yard. $750 per month
Call 324-6169--after 6:00pm

FULLY FURNISHED, spacious
3 bedrooms, 2 bath house,
enclosed patio + yard; sec bars,
cable & Internet ready,
$1,300/pm Sea Breeze Estates.
Tel:557-3972, 324-5013.

FURNISHED EFFICIENCY,
LIGHT , WATER, CABLE, FAN
AND GAS TANK INCLUDED.
$350/MTH. PHONE 361-6711.

FURNISHED 2-BED, 1-BATH,
LIVING & DINING’ ROOMS;
AIR CONDITIONED, CEILING
FANS, SEC BARS WITH
WATER INCLUDED FOR
RENT. WEST BAY STREET.
CALL 427-2525, OR 324-2576
BETWEEN, 7:30AM-8PM.

FURNISHED EFFICIENCY
ROOMS for rent,, 2 locations
Augusta Street & Twynam Ave
$125 per week, includes elec &
water. 525-9056.

FURNISHED ROOMS, utilities
included. East Street. Phone
325-6000.

“MOTHER & FATHER’S DAY
SPECIAL”

ALL RETAIL, OFFICE &
SMALL BUSINESS OWNERS
GET YOUR STORE / OFFICE
SPACES ON BAY STREET
WITH CLOSE PRIVATE
PARKING FACILITIES NOW!!!
SPECIAL RATES "
AVAILABLE ONLY _ UNTIL
JUNE 19TH,06 ON STORE /
OFFICE SPACES AT THE
SHOPPER'S HAVEN ON BAY
COMPLEX. INTRODUCTORY
3 MONTH SPECIAL
DISCOUNT OFFER! SOME
UNITS AS LOW AS $300.00
PER MONTH.

CALL 328 — 2366 OR 322-7419
TODAY ; .



PAGE 34, THURSDAY,.MAY 11, 2006 . THE TRIBUNE





Tel: 322-1986



LOVE BEACH ESTATE
One townehouse

















NEWLY BUILD, 2 BEDROOM
1 BATH APT, MISTY GARDEN

ONE VERY NICE PRIVATE|ROOMS FOR. RENT TO
EFFICIENCY, ALL UTILITIES} COLLEGE STUDENTS IN A




Fully furnished, central AC, | OFF MARSHALL ROAD WITH | INCLUDED, FURNISHED, | PRIVATE HOME WITH ~
alarm system, fenced in yard | SECURITY BARS, A/C | $650 PER MONTH. PRIVATE ENTRANCE LIGHT,
$1500.00 ONO BLINDS, WATER INCLUDED ; WATER CABLE INCLUDED

Tel: 359-1260
MISTY GARDENS 2-bedroom,

LIGHTBOURN REALTY AND PHONE READY. $700.00|2 BEDROOM, 2 BATHROOM,|SHARE KITCHEN _ AND

PER MONTH, 1ST AND LAST] BRAND NEW HOME, ALL| BATHROOM ALL BEDROOMS
















meNrats ET aR Pa [MEME enon SOME [RANMA Ale | SUSSMlon Seca”
! PLAY Gad ERG SE athroom, _ livi ing f ‘
Bede 4 ein Home wire t BUR Toradinuckcen room, A/C, sec bars, enclosed | 361-1419, 425-3082. FLOOR, _LARGE MASTER|N DRIVE. PHONE _ 557-

yard. Water included. First &
jast + $200 sec dep, $650 per
month. Tel 392-7786.
No children, no pets.

—____ sd SUITE, FENCED IN WITH| 2147/322-3885.
NEWLY BUILT - bedroom] BEAUTIFULLY LANDSCAPED } ——————__________
house in Redland Acres off} YARD IN. QUITE AREA.| SAINT ALBANS DRIVE
Soldier Road. Water incl $190 a| $1,950.00 PER MONTH. TEL] SPACIOUS TWO BEDS, ONE

RENTALS
3599 Lyford Cay: Lovely 3 bed
3 1/2 bath home with generator,

bed, 1 bath cottage. Fully
furnished & equipped, A/C,
laundry, garage, pool,

















enerator, optional dock space. } lots of storage, a decor that;__“__—"_’__"""""__sSsSs| week, 1st , last, $600 sec depo.

$10,000/month states island _elegance,| MT_ VERNON - 2:BED, 2-| Prone ea. PO: | 364-2350. + GORE ABAEAHIENT
enclosed and _ landscaped} BATH, FULLY FURNISHED > FULLY FURNISHED, AIR”

NEW! Tamarind Villas -— 1] grounds, pool, Jacuzzi, an| APT WITH CENRAL A/C & NEWLY BUILT two bedroom CONDITION, ENCLOSED

bed, 1 bath cottage, central} alarm system, plus a 1 bed 1]PLUS WALL A/C, CEILING] apartment - off Charles













GROUNDS, SWIMMING POOL
AND LAUNDRY
FACILITIES, CLEAN
ENVIRONMENT, WATER
INCLUDED, $975.00
MONTHLY, FIRST AND LAST

NEWLY RENOVATED, air : MONTH'S RENT ALONG
conditioned 2 bedrooms, one | OBL ANDO VACATION HOME WITH SECURITY DEPOSIT
bathroom: apartment, #82 REQUIRED. TEL: 325-0318

. ‘ : Brand new _ professionally} 326-1514 (EVENINGS 323-
Joan’s Heights, South Beach
for rent. Unfurnished with | Cecorated 6-bed, 4-bath home, 8408

: swimming pool & spa in the |———
oa codes Ft al beautiful gated resort] SANDILANDS ALLOTMENT
eet eit aquired: Water | community of Windsor Hills. | SPacious | 1 pe Fiend
NEW 2 bed, 1 1/2 bath Apt] included. If interesed call 324- ee eee Pag secure enclosed ard, quiet
: % “1 | 4961 after 4pm. uests. josest resort to | eee ourhood. Fri ide es
Road Bouin: Water & butglar fea ee | One AN [uel INU 10 all ed, central. af
J : i ther attractions, 2 ,
bars included. $700 per month. ee EFFICIENCY. Very Gulet Bararin owned - ask ead cable alarm and telephone

First & last month's rent $500 Seagrapes Shopping Center | SPecial discount on stays of 7 ready, $700 per month, first ,

A/C, community pool, fully

FANS, ALARM _ SYSTEM,
furnished. $900/month.

SECURITY SCREENS,
PRIVATE SWIMMING POOL,
WASHER/DRYER,
BEAUTIFUL LANDSCAPING.
CALL 356-2068 OR 424-0783.
AVAILABLE IMMEDIATELY
§2 200 A MONTH (INCLUDES
ATER).
NAIL BOOTH FOR RENT.
$90 PER WEEK.
TABLE & CHAIR INCLUDED.
544-2393.

Saunders Highway, $650 per
month, water, burglar bars, fan
and facilities for washer and
dryer. Firt, last and $400
security. Call 393-3539.

bath apartment downstairs.
$12,000/pm. ,

3652 Old Fort: Newly
constructed "Key West" 3 bed
house with its own beach and
dock,. tile floors and covered
verandahs. $7500/pm.







NEW! Montagu Villas — 2 bed,
1 bath townhouse. Recently
renovated, furnished, A/C, pool,
gated. $1,800/month.






’ Treasure Cove. 3 bed, 2 bath
furnished home, stainless steel
appliances, central AIC,
screened Bahama Room,
gated. Excellent
condition$3, 200/month.


















3709 Westridge Estates:
Hilltop multi level executive 3
bed home with partial ocean
and lake views, vaulted
cathedral ceilings, _—_ study,
marble tile, central air, Corian
countertops, 2 car garage,
rainwater tank, PGT hurricane
windows and doors. Enjoy
1.263 acres of fully enclosed



















Coral Harbour - Brand new 2
bed, 2.5 bath furnished
townhouse on canal! $1,850.00
month






and sec dep. No pets. Tel 322-7672 } 2: d last & $500 sec dep. required.
Coral Harbour -—- Just| landscaped rounds. : Single Person Only, No Pets. | CYS oF more. - -
completed, 1 bed/ 1 bath $7000/pm. a BOLO. $550 p/m. Includes light & Phone 242-322-8734, 357-9918, or 326-1610.






























NEW 2-BED, 2-BATH, Apt
Summerhaven, Baillou Hill
Road South. Water & burglar
bars included. Washer/dryer
ready. $750 per month. First &
last month's rent $500 sec dep
No pets Tel 322-7672 after
5:30pm.

NEW EFFIENCY, stove, fridge,
blinds, water, light, cable, + gas
$650/mth + sec. 324-1396
anytime.

NEW SHOP FOR_ RENT
$1200, first and last, $600 sec
dep. Excellent for a pharmacy
or a beauty store. Central A/C,
and water included. 322-3753,
Culmersville.

NEW TOWNHOUSE 2 bed
room, 1 1/2- bath of Cowpen
Road. Security bars, central air,
first and last month rent plus
security deposit.

Phone 427-0550.

NEW, SPACIOUS, 2 Apt for
rent, 2 bed, 1 bath, $700, 1st
and last, $600 sec dep. Water
included. 322-3753,
Culmersville.

NEWLY BUILD 2 BEDROOM 1
BATH APT MISTY GARDEN
OFF MARSHALL ROAD WITH
SECURITY BARS, AC
BLINDS, WATER INCLUDED
AND PHONE READY. $700.00
PER MONTH 1ST AND LAST
MONTH SECURITY DEPOSIT
$500.00 CONTACT 361-1419
425-3082 .

water. tst/last/ _— securty| 241-2531, or. 1-407-876-4025. | SANDILANDS VILLAGE: One

required. DADTTY ENDNIQUERT DEN | 1-bed, & 2-bedroom Apt. Water
Call: 361-3830 - PARTLY FURNISHED, 1 BED],

included, $500 and $650.

APT. HARRY ALLEN CLOSE | phone 557-4254.
OFF ST VINCENT ROAD.JOFF CARMICHEAL _ RD, | _______
SPACIOUS 2 BED FURN|FRIDGE STOVE, CENTRAL] SANDYPORT, Clipper Island,
HOUSE. ENCLOSED S/BAS/] AIR, CEILING FANS,-BLINDS, | 2 Bed. 2.5 Baths
SCREENS, PHONE, WATER | SECURITY BARS AND | Sea View, Dock Space,
(W&S), AND CABLE READY. | SCREENS, VIEWING | Security, Pool, Tennis,
ANNUAL LEASE. AVAILABLE UPON REQUEST ] $2,900.00 p/m.
$850/M, 1ST & LAST + $600] $600.00 PER MONTH. TEL: | PH: 456-0012

SEC DEP. PHONE 323-4626. nae SRR On 322-3627 EVE | SEA BEACH ESTATES 1-

ONE BED APARTMENT bedroom furnished brand new
unfurnished, bedroom A/C, tile | PILOT HOUSE, EAST BAY ST| apt includes | water, cable,
floor, ceiling fan, newly built.| Roomy 1 bedroom unit, | central air, as & alarm system.
Martha Rd, off Faith Ave.| Separate living and dining | $1,300 monthly. 477-7233.

, fully furnished i ing}@EeA REACH ECTATEC
Contact 361-4869. dishwasher, washer and dyer, | SEA BEACH ESTATES
ONE EENROON EEFICIENGY | Central air with security gym edroom, ath, tully
Pe eee SOLE eLTy and pool on site. Rent $1,600 | furnished brand new apt central

per month; first and last months | aif, cable, & alarm system.
FURNISHED. | $700.00. PER| Fen and’ 1 month, securty | 82.200 monthly. 477-7238.

deposit. Serious inquiries only

SECURITY, $350.00.NO SEA BREEZE LANE 1-
PET/CHILDREN. oa Bon SAG atecn 9 '° 31 bedroom apartment for rent,
341-5174, OR 324-7985, Pm fully furnished, central A/C,

Te eT _ | water included. $650/month.
ON ig RED So cL aBES | bedoom,. cba launch, | Prone 424-2066
WATER AND LIGHT, $590.00 closet appliances: Refrigerator, |] SEARS HILL - 1 Thee 1 bath,
YAMACRAW BEACH EST stove, stackable washer/dryer, | unfurnished Apt, $550 per
364-4810, OR 341-5933 central air, ceiling. “ fans, | month, parking for 1 car, water
; mannored security alarm, | included. Tel 393-3219.
ONE BERROONM ONE BaTy | automatic gate, cooking gas, 2
WASHER CRYERE PAE water, cable/telephone ready,|SECURE, 2 bed, front &
COND, & WATER INCLUDED. patio, $825.00 per month, dinning area, kitchen, and 1
SMITHSVILLE SUBD. HILL first/last month payments & sec bath unfurnished wilight, water,
TOP VIEW, $600/MTHLY, $300 | “@P9sit required. Minimum & telephone included. House
SEC-FIRST & LAST MONTH'S | lasing period 1 year. Off Sea| near bus stop with yard. tel.
REQUIRED. ONLY SEROUS | Breeze Lane, phone 364-5424, | 341-4483 10 am to 6:30 pm
INQUIRIES, 364-3692 Serious inquiries please! mon - sat.

“QUAINT: 1 bedroom unfurn. | QUIET AREA - SEMPPOBNGBED. Ue eope

tastefully furnished unit with
beach and waterfront view.
$1,400/month.

































3607 Sandyport: Fully furnished
unit enjoying wooden floors
throughout .and_ Travertine
Tiles, French doors, tray
ceilings throughout, hurricane
shutters, gazebo, and an
oversized patio and BBQ area
in the back. $6800/pm.

Mackey St. — 2nd floor office /
warehouse with lift, 2,250 sq. ft.
$2,000.00 month

Cable Beach - 4 bed 3 bath
home with swimming pool and
enclosed landscaped _ yard.
Offered semi-furnished at
$3500 per month.








3606 Tusculum: Enjoy scenic
views in this lovely 3 bed home
that has fine amenities. Pool,
spacious kitchen and _ tray
ceilings. $5500/pm.




Tel: 393-8630 ¢ Fax: 393-8638



1-BED, 1-BATH, fully furnished
apt with brand new furnitures.
Water included. Close to food
store, restaurant and wash
house, Nassau Street. $625 per
month. Phone 328-3998.

1-BED,1-BATH, SHIRLEA,
FURNISHED. A/C, WATER &
GAS _INCL'D. — $650/MTH.
$650/MTH. PHONE 393-5845.

2 BEDROOM APT - MISTY
GARDEN, BURGLAR BAR,
AC, WATER. NO CHILDREN
CALL 392-7786, 341-4926
LEAVE MESSAGE

FURNISHED EFFICIENCY in
PerpallTract, light, water, cable,
included. $550 per ‘month:
Phone 325-6835.

1-BEDROOM APARTMENT,
Taylor St, Nassau Village,
fridge, stove, air condition,

3588 Seapointe: Furnished 3
bed, 3.5 bath unit in
immaculate move-in condition.
Central air, spacious living
areas, water softening system,
washer/dryer in unit and 2
parking spaces. Hurricane
proof windows, hurricane
shutters, pool waterfront view
and 24hr. security. $4900/pm.




























3716 Blair: Furnished 3 bed
well-kept family home, spacious
living areas layout which open
onto a covered patio that
overlooking the swimming pool,
well/city water, central air and a
pool house with shower.
$4500/pm.

3705 Palms of Love Beach:
Waterfront 3 bed unit beautifully
appointed, tile floors
throughout, air conditioning,
washer and dryer. $4200/pm.

































ceiling fan, basi , water, eee
aie pear et per CALL ERA Dupuch NEWLY BUILT SPACIOUS 2- | Apt avail in Yamacraw Beach, | ,2,edroom, 1 bath apartment adaen WR z ein Mee
month, first & last month, $300 Real Estate bed, 2 1/2-bath apartment for| for a quiet person/s $650/pm, | ‘ridge, stove , central air,

microwave, washer, burglar bar| fridge & stove included.
gas tank, cable, Spans lines | $600/mth $500 sec dep.
ready. Off Tropical Garden, 5 457-3506.

min from Airport, 10 min from 2-BEDDROOM 1-BATH.
Gablé Beach, $925" per. month,-|’ Matern. MarShall Rd,

first & last sec dep $500: Telf South Beach, se
327:5092'ot 357-9496: Tel 392-2859.”

Tel: (242) 393-1811 or
Fax: (242) 394-1453
Info@ eradupuch.com
www.erabahamas.com

rent, Carmichael Rd, West, First and last
water included, central air, sec} required plus $500 sec dep.
system, fridge, stove cable and Water and elec included,
phone ready. First an last], .cable and telephone ready.
month -rent = $500 ~sec dep. |- -Sorry no pets.,To-i inquire.
Serious induirles ee aM, (362-, Tel 324- nee between 9am. -
4365, after 5pm,, MA as ind Spm> mii

sec dep ost.
327- 1830) 702-1524.

ONE BEDROOM, unfurn Apt.
Water- included. Golden Gates.
#1. Call 361-3969.

issu Ueland















i
ie





THE-TRIBUNE

he

SEMI-FURNISHED air
conditioned one bedroom
apartment for rent, Lordon Ave,
Millers Heights Subdivision.
$550/pm Water included.
341-2709.

4. SHOP SPACE FOR RENT
Suitable for Insurance Firm,
Office or Church.

2,300sq ft

2,100sq ft

2,000sq ft

1,800sq ft.

Edmira's Plaza ,Soldier Road
Phone 393-5448.

1-BEDROOM APT _ includes:
Water, fridge, stove, A/C,
ceiling fans, sec bars, hurricane
shutters, modern.colours, gated
property, landscaped, 2
persons max, no kids. Fire Trail
Estate. $600 per month. First &
last, sec dep. $400.

Tel 341-0962; or 455-5653.

VERY NICE SPACIOUS 1

’ BEDROOM APARTMENT
MUST SEE. TO
APPRECIATED. FULLY

Poco

FURNISHED $600.00

MONTH. FIRST , LAST AND

’ SECURITY, - ’ WATER
INCLUDED. ALLEN DRIVE
OFF FIVE TRAIL ARD..
TEL:341-4458 ANYTIME
AFTER 6PM

SPACIOUS, 2 BED / 1 BATH
APARTMENT, “ EASTERN
AREA, INCLUDES CENTRAL
AIR, CEILING FANS,
WASHER, DRYER, FRIDGE,
STOVE, ALARM __ SYSTEM,
WATER, AND ENCLOSED
YARD. CABLE AND PHONE
READY. $950.00 MONTHLY.
CONTACT 364-1798, 557-1460

STEP STREET - 1-BEDROOM
Apt, unfurnished, A/C, water
included. Fencd-in yard. $550,
first and last, $300.sec dep. Tel
364-3912. .

TOWNHOUSE, EASTERN
AREA, STAR ESTATES (2)
BED, 1 1/2 BATH, WITH
CENTRAL AIR, SEMI
FURNISHED WITH FRIDGE,
STOVE WASHER/DRYER,
WATER INCLUDE, PHONE
AND CABLE READY NEW
CONDITION $1,000.00 PER
MONTH REQUIRE, 1ST AND
LAST, $500.00 SECURITY
DEPOSIT

PHONE CONTACT #525-3130
DAY OR 364-2375 EVE.

VERY NICE SPACIOUS

1 BEDROOM _ APRTMENT
MUST SEE TO
APPRECIATED. FULLY
FURNISHED $600.00 PER
MONTH. FIRST, LAST AND

SECURITY, WATER
INCLUDED. ALLEN DRIVE
OFF FIVE TRAIL ARD..
TEL:341-4458 ANYTIME
AFTER 6PM

UNFURNISHED ROOM to let
Out East, $90 per week, first
and last plus $200 sec dep. Tel
535-0222, 5pm to 8pm, or visit

. #545 Cyprus Court Elizabeth

Estate behind’ Zion Yamacraw
Baptist .‘.Church ask = “for
Raymond.



PARADISE



“Your Gated
Community Specialists”
Treasure Cove, Sandyport,
Old Fort Bay, Lyford Cay
Let us take care of your
family!

Treasure Cove R1197- New,
furn. 4/2 with many upgrades!
NICE $3,750

Sandyport _R1050-__ Newly
remodeled, 3/3.5 - canal front

home. $5,500

Treasure Cove R1140- Furn.
4/2 with pool and enclosed
yard, near ocean. $4,000

Cable Beach R2212- Furn.,
newly renovated 2/2 in
beachfront complex. $3,500

Carefree _R2222- Furn. 2/1
arden apt. in Cable Beach.
$4 ,500

Cable Beach R2086- New,
nicely furn. 2/2.5 townhouse
with enclosed, private yard.
$2,200_

Sandyport_ R1189- Furn. 3/3
home on. canal with study,

generator, dock and many
upgrades! $7,000
Twynam R2220- Furn.,

spacious 3/2 in central location.

,

Towers of Cable Beach
R2223- Furn. 2/2 beachfront
condo. Amazing views! $2,500

Treasure Cove R1180-
Spacious, furn. 5/3 with pool in
a gated, oceanfront community.
$5,500

Old__- Fort _—Ba R1154-
Immaculate 5/4 furn. Home on
canal with 1/1 guest cottage
and pool. $19,000

Caves Point R2153-
3/3.5 condo
views! $5,000

Furn.
with amazing

Seabeach Estates R2216-
Furn. 2/1 with private yard.
$1,600

Skyline Lakes R2142- Furn
2/2.5 and 3/2.5 townhouses in

the west. Starting at $2,000

Seabeach R2224- Furn. 2/1.5
townhouse. Spacious and
close to beach! $1,500

Commercial Rentals
Palmdale _R3038- Approx.
1,000 sq.ft office space,
centrally located. $1,500

For more rental listings call

. Paradise Real Estate 325-3000

Orvisit . ys

www.paradisebahamas.com |

,







TWO 1-BED, 1-BATH APT,
water included. Levell Street
near St Albans Drive. Ideal for
expatriate.

Phone 422-5175.328-0356.

MILLERS’ HEIGHT: 2
BEDROOM, ONE BATH SEMI-
FURNISHED APT. LOCATED
ON EAST AVE: CARMICHAEL
RD., A/C_IN BOTH ROOMS,
BURGLAR BARS, NEW
STOVE, NEW FRIDGE,
WATER, CABLE READY, AND
SEMI-ENCLOSED YARD
INCLUDED. RENTAL FEE:
$650.00 MONTH. 1ST, LAST
AND _ $400.00 | SECURITY



| DEPOSIT REQUIRED. READY

JUNE 1ST, 2006. PHONE 364-
6857(H) AFTER 5:00P.M OR
394-0445 (W) OR TEL NO
565-7776

TWO BEDROOM APT semi-
furnished, bedroom A/C, tile
floor, ceiling fan, newly built.
Available at the end of May.
Martha Rd,. off Faith Ave.
Contact 361-4869.

NEWLY BUILT 1 BED APT
FOR RENT IN THE
CARMICHAEL’ AREA. $550
PER MONTH, WATER INCL.
ENCLOSED YARD, PRIVATE
PARKING, AIR COND,
CEILING FANS, CABLE AND
TELEPHONE READY.
BURGLAR BARS ALSO
INCLUDED. SEC DEP IS $300.
PLEASE NO CHILDREN
ALLOWED. INTERESTED
PERSONS SHOULD
CONTRACT 361-6869, LEAVE
A MESSAGE.

TASTEFULLY FURNISHED 2-
bed, 2 1/2-bathrooms, split
level unit, laundry, standby
power supply, central air
condition. $2,500 per month.
Coral Harbour, 2 min walk form
beach. Call 363-1270, 457-
0852 daytime, or 362-0374
evening for an appointment to
view.

STUDIO APARTMENT single
unit off Eastern Road, $550
monthly all utilities included.
Available April 17. Call or 14
acre a message at 393-5778.

Seemuase 4-

ADT





I AM
TRUSTWORTH
person seeking to live-in a
house with a family. Call 535-
0769.

HONEST,
unemployed

ROOM MATE wanted to share
fairly new apartment with young
female. The apartment has
specious bedrooms, ceiling
fans and burglar bars in every
room. $800 moves you in and
$400 per month rent includes
light and water utilities. Nassau
Village, William St, 393-8264.

YOUNG LADY WANTS TO
SHARE A SPACIOUS TWO
BEDROOMED HOUSE. ALL

UTILITIES. INCLUDED.FIRST,
‘LAST: AND. SEC” DEP, 120,
“REQ: ‘CALL ~ 535-6229 FOR

MORE DETAILS.

>











MIRA MAR VILLAS
TOWNHOUSE TO SHARE 3
STOREY P.| UNIT BEACH-
SIDE 363-2268 424-6112






BAHAMAS EMPLOYMENT
AGENCY NEEDS:
MALE WITH
KNOWLEDGE
PURCHASING MAIDS &
SECURITY'S MUST BE
WILLING TO WORK ‘SHIFTS
EXPERIENCE SALES
ASSOCIATES DRIVERS
W/VALID DRIVERS LICENSES
AND
HOUSEKEEPERS,
TO WORK WITH INFANTS
MAIDS WILLING TO IRON

YOU MUST HAVE 2 WRITTEN
REFERENCES FROM YOUR
PASS EMPLOYERS, VALID
POLICE RECORD, 1
PASSPORT PHOTO AND A
RESUME, BEFORE CALLING
(242) 361-5105 FOR
INTERVIEW.

BARBER, BEAUTICIAN &
NAIL TECH NEEDED
Ask for Nathan Ward, 326-
6001, 325-3721.

BI-LINGUAL HEAD CHEF for
family island restaurant, serving
French, Italian and International
cuisine. Must have 10 years
minimum experience inclusive

of the Caribbean. Please
contact: 242-332-2221, PO Box
EL-29924, Eleuthera,
Bahamas. }

CACIQUE INTERNATIONAL
INVITES APPLICATIONS
WHO ARE HIGHLY
EFFICIENT, ORGANIZED,

RESULTS -- ORIENTED AND
DYNAMIC INDIVIDUALS TO
FILL THE FOLLOWING
LEADERSHIP POSITION:

DIRECTOR OF OPERATIONS

eMinimum of 5 years
experience in the hospitality
industry, both locally and/or
internationally

¢ Destination. Management
experience a definite plus but
not necessary

e Fluency in another language
also a definite plus

*College degree essential

*Strong organizational skills

eThe ability to multi-task on a
daily basis

‘The ability to lead and
motivate a great team of
dedicated employees

*A computer super-user
essential

eAble to travel

* Own transportation.

Please send resume to:
Human Resources,
PO Box N-4941,
Nassau, Bahamas.

is

or email:
sales @caciqueintl.com
MATURE BUS DRIVER

WANTED. PHONE 436-2531
OR 362-1891.

MAID NEEDED FOR DAY OR
WEEK* WORK. CALL’ MRS
JOHNSON, 392-6238. ° .

THURSDAY, MAY
st bi ti me fest

COOK HELPER NEEDED
Must have at least 2-3 years
experience in short order. Must
have own transportation & be
able to work shifts. Fax resume
393-9402.

CRANE OPERATOR
NEEDED. PLEASE CALL 357-
3294 OR 326-8424.

DO YOU NEED SOMEONE TO
CLEAN YOUR OFFICE, HOME
OR APT?

CALL MS JOHNSON,
392-6238,

ESTABLISHED
CONSTRUCTION Firm looking
for Skilled Carpenters and
Masons. If you are looking for a
new and great opportunity.
Please e-mail us at:
gimpconstruction @ yahoo.com.

EXECUTIVE CHEF. Exclusive
resort seeks Executive Chef.
Qualified person must be
extremely organized and self
motivated, multitasking abilities
a must. Computer literate a
plus, experienced in a wide
variety of international cuisine.
Responsibilities include
assisting in hiring, evaluations,
inventory control, menu
creation & preparation & the
creation and management of
quarterly & yearly budget. Well

spoken with excellent
interpersonal & management
skills a must.

Send resume with recent photo,
Reference Executive Chef to:
Director of Human Resources,
Fax 302-9156, or
Email: HRExecPosition @ aol.com
Nassau, Bahamas.

EXPERIENCED METAL
ROOFERS NEEDED FOR
VARIOUS TYPES OF METAL
ROOF WORKS, MINIMUM 5
YEARS EXPERIENCE.
CONTRACTS IN NASSAU
AND OUT ISLANDS. GOOD
RATES OF PAY FOR THE
RIGHT CANDIDATES.
CONTACT 322-8217.

EXPERIENCED SALES Lady
needed to make and sell
Mother's Day baskets. Must be
a mature, honest and reliable.
Phone 323-3345.

FACIALIST WANTED
professional salon, 394-1441,
Ms Ferguson. Must be able to
do Caucasian & blacks.

FACIALIST WANTED,
professional Salon. 394-1441,
Ms Ferguson. Must be able to
do caucausian & blacks.

ALL MC, Comedian, Steel Pan
Player, and female dancers
needed.

Call 328-6142, 328-6153.

HANDYMAN needed to
maintain large — restaurant
premises. Call 242-392-2955,
or 455-9558.

HELP THE CONSTRUCTION
APPRENTICESHIP
KEEP

PROGRAMME

WORKERS EMPLOYED.

TEL: 328-2709, OR 456-7334,
FEMALE DANCERS
NEEDED. 328-6142. ,

1+:2006, PAGE 35




« .





HELP WANTED |

LADY with great-selling skills
needed to work in clothing
store. Must be mature, honest
and reliable. Phone 323-3345.

LIVE-IN HOUSEKEEPER
required for busy family. Must
be Bahamian.

Please call 324-2822.

LIVE-IN MAID needed to clean
and care of two children. Must
be honest and reliable.
Ph:364-4654.

LIVE-IN MAID NEEDED.
MON-SAT, TO TAKE CARE
OF AN ELDERLY LADY.
PHONE 323-3568.

LOOKING FOR A WAITRES/
BAR MAID, willing to work
flexible hours. Must have
experience. Must have a
pleasant attitude and very
social. 328-3998.

MAID needed. Must be able to
take care of a 4-year old.
393-6708.




MALE CLEANING
tATTCNDANTS. MUST BE

MATURE, WILLING TO WORK
SHIFTS AND SKILLED WITH
OPERATING HEAVY DUTY
CLEANING MACHINES.

INTERESTED PERSON'S CAN
CALL 364-2305 BETWEEN
THE HOURS OF 10AM - 6PM.

MALE DANCERS needed right
away for music video. Good
pay. Call 328-6142/6153.

MALE NEEDED FOR PARTY
STORE FOR _ CLEANING,
DELIEVERING AND SETTING
UP OF EQUIPMENT. MUST
BE HARDWORKING,
RESPONSIBLE AND ABLE TO
COMMUNICATE WELL WITH
OTHERS. SERIOUS
ENQUIRIES ONLY. CALL 394-
1086. DEADLINE FOR CALLS,
FRIDAY, MAY 12TH.

MATURE LADY wanted for

housekeeping duties and care
of two children. Own
transportation preferred.
Bahamian/ Permanent
Resident police record/food
handlers certificate.

Hours:8am-4pm.
Call 357-4724.

MATURE, HONEST LADY
needed to care for ailing
gentleman and to carry our
house work duties. Bahamians
only need apply. Tel 364-3331,
9am-6pm.

MILLER'S TYRE CENTER is
urgently in need of tire repair
men.

Only if serious call 341-5525.

MODELS NEEDED between
15-22 years for exclusive model
& production agency contact
325-7129 or 436-9729. Please
present a photo.

SMCS _ IS_— RECRUITING
PERSON FOR FAST FOOD
RESTAURANTS. NEED -
MALE PORTERS,

SANDWICH MAKERS
CASHIERS, ETC. .
REGISTER .BEFORE. MAY
15TH AND FREE REGISTER
PH:356-0394/5.



PAGE 36, THURSDAY, MAY-11, 2006

1 MALE BAND needed.

328-6142

CAREGIVER NEEDED. SEND
REPLY TO FRANZETTA
FERGUSON, GENERAL

DELIVERY, NASSAU. PHONE
395-5026.

CASHIER WANTED FOR
CONVENIENCE STORE. TEL

326-8491.

Executive Chef wanted for
Compass Point Resort and
Restaurant. Must have head
chef experience. For interview
please: call Skip Scully at 327-
4500

2 SUPERVISORS NEEDED for
small company. You must be
able to manage a small group
of individuals. Reliable and can
work flexible hours. Please fax
resume to 326-1227.

A FAST GROWING LOCAL
IMPORT COMPANY SEEKS

TO EMPLOY A __ WELL
GROOMED, CUSTOMER
ORIENTED, EXPERIENCED
DELIVERY

DRIVER/MESSENGER_ WITH
A VALID DRIVERS LICENSE.
PLEASE CALL (242)326-0103
BETWEEN THE HOURS OF
9AM-5PM FOR MORE
INFORMATION.

ALL MC, COMEDIAN, STEEL
PAN PLAYER, AND FEMALE
DANCERS NEEDED. CALL
328-6142, 328-6153.

PLUMBER/MECHANICAL
FOREMAN
Should have excellent
mechanical skill/experience and
must be a responsible, reliable
individual & work with no
supervision.
Write to:
The Director,
PO Box SS-19812,
Nassau, Bahamas.

AMI qualified primary
directress with Special Needs
training & experience. Please
send resume, details of diploma
location & license number,
trainer reference, and teaching
references to:
montessori_bahamas @ hotmail
.com by May 16th, 2006.

HELP WANTED URGENTLY
PERSON TO CARE FOR
INFANT 3 DAYS PER WEEK
EARLY 7 AM TO 3 PM OR 1
TO 6:30 PM

AGE 30 AND OVER
PREFERABLY IN THE
GARDEN HILLS OR
STAPELDON GARDENS

AREA (BUT NOT A MUST)

SERIOUS !INQURIES ONLY
CALL 454-1592 OR 3411618

POSITON AVAILABLE
PROJECT MANAGER
REQUIRED IN ABACO. MUST
HAVE CONSTRUCTION BACK
GROUND FAX RESUME TO
242-325-6638

SMALL BUSY OFFICE looking
fot an Office Assistant. Must be
-computer- literate. Please call

‘363-1270. - +

Y bese oe ore




Open Call for
Back Ground Singers

International Artist/Songwriter
seeking male or _ female
background singers for
recording work and _ live
performance both locally and
abroad in high profile shows.
Must be 18. yrs. or older and
have experience and a strong
image. Highly experienced
Background singers or singers
with dance experience or
musical instrument skills will be
given preference.

Please submit application with
a full body photo and any
reference material of past work
to HYPERLINK "mail to:
sharpexecasst @ yahoo.com"
sharpexecasst@ yahoo.com for
consideration, or mail by post to
P.O. Box SS-19970 — labeled
AUDITIONS. ONLY. Suitable
Candidates selected will be
offered a live audition date.

Submit early to ensure your
spot for this rare opportunity.

BEAUTY SALON located in -
busy area,
Loking for:
1 Hair Stylist/Cosmologist
1 Nail Techn
(Werk on Commission) °
Call 323-2276

PRICING CLERK
experience in Retail
Please fax resume to
323-7255,

WAREHOUSE INVENTORY &
DISPATCH PERSONNEL for
A/C and refrigeration company

with
Sales.

with computer experience.
Excellent organizational and
interpersonal skills, a must.
Submit resume to

Fax 356-6620.
PROFESSIONAL BRICK
LAYING at an affordable cost,
specialize in drive-way,
commercial areas, attraction

For
contact

sites and much more.
information please
needed contractor at
242-553-0300/646-3950/323-
2378
Website:www.finetouchbp.com
Emal:general@finetochbp.com.

WANTED
FEMALE TO SUPERVISE A
HOME FOR WOMEN AND
CHILDREN. APPLICANT
MUST BE A_ CHRISTIAN
BAHAMIAN BETWEEN THE
AGES 30 AND 55 YEARS AND
MUST BE ABLE TO LIVE IN.
FOR FURTHER
INFORMATION.

CALL 356-5027.

ST AGNES PRESCHOOL
is in need of two (2) trained
Teachers.

CRITERIA:

Must be trained or willing to
attend CEES at the College of
the Bahamas to be trained.
Interested persons are ask to
forward their resume not later
than 19th May, 2006 to: The

Chairman, ; Education
Committee, - St» Agnes Parish
Office, Bailloy ' Hill Road,

Nassau, Bahamas.

oo ce oe a ares & |



SALES EXECUTIVE
NEEDED JOB DESCRIPTION:
TO IDENTIFY AND MAXIMIZE
ALL POTENTIAL REVENUE
OPPORTUNITIES FOR A
LEADING HOSPITALITY
OPERATIONS — BUSINESS.
THIS = INCLUDES THE
ANALYSIS OF _ REVENUE
POTENTIAL GENERATED BY

THE GROUP MARKET
SEGMENT. ONE WILL
COMBINE THIS WITH

PROMOTION OF CATERING
AND EVENT SERVICES AS
WELL AS OTHER REVENUE
CONSIDERATIONS IN
ORDER TO DETERMINE THE
APPROPRIATE MIX OF

BUSINESS TO ACHIEVE
REVENUE POTENTIALS
THROUGHOUT THE YEARS.

JOB REQUIREMENTS:

AT LEAST 5 YEARS OF
PROGRESSIVE EXPERIENCE
IN A HOTEL OR A RELATED
FIELD REQUIRED; OR A 4-
YEAR COLLEGE DEGREE
AND AT LEAST 2 YEARS OF

RELATED EXPERIENCE.
PREVIOUS SUPERVISORY

RESPONSIBILITY
PREFERRED. HIGH SCHOOL
DIPLOMA REQUIRED.
BENEFITS: COMPETITIVE
SALARY AND BONUS
PACKAGE, HEALTH
INSURANCE, DOMESTIC AND
INTERNATIONAL TRAVEL.

SEND RESUMES TO: HUMAN
RESOURCES MANAGER, PO

BOX SS-6780, | NASSAU,
AHAMAS.
SECURITY PERSONNEL

needed for full time positions.

*Must have a minimum of two
years previous experience in
one or more of the following
aspects as a Security Officer:

*Malls, Shopping Centres,
Casinos, Banks, Government
Entities, Parking Lots, Health
Care Industry, | Campuses,
Courts or Judiciary.

“Must be ages 25 - 55 with
clean police record and in
good health.

*Ex Military or Police Officers
are encouraged to apply.

WE OFFER: Top benefits,
Good _ salary, Professional
working environment, ongoing
training via one of the most
prestigious Homeland Security
Certified Training Institutions in
the USA

Submit resume to: email:
harriersecurity @ hotmail.com
Deadline for submission is 30
May 2006

Wendy’s Restaurants is now
recruiting Crew Members,
Cashiers & Maintenance Staff
for all locations.

Must be able to work shifts &
weekends.
Interested persons should
apply in person at
Wendy’s Bernard Road
Wed, May 10 - Friday, May 12
Between 9: 30 a.m. to 12 noon

JITNEY” ‘DRIVER WANTED:
GOOD BENEFITS: " PHONE
327-5669." ~ |

4



TEACHERS wanted 5 to 10
plus years experience bachelor
degree in education related
field. Teacher Training
Administrative experience
advantage salary
commensurate on experience
and qualification.

Interested person should send
resume along with photo, police
record to: PO Box SB-50169 or
email to:
Daexecutivewiz28 @ yahoo.com

THE TATTOO KING
looking for Tattoo Artists,
Piercing . Artists, Barbers &
Stylists. Call NOW, 394-8144.

THREE (3) -PERSONS
WANTED FOR THE
FOLLOWING POSITION:
CLIENT/SERVER
PROGRAMMER/ANALYST

Candidates must have the
following criteria:

¢ Common knowledge _ of
networking, software and
hardware (server oriented
generally).

Very high proficiency in PHP
(version 4 and 5), mySQL
and other
languages
MSSQL, ODBC
Experience with Unix system
(BSD, Linux, SCO, HP), Unix
server installation and
administration. :
Webpage developing - good
knowledge of XHTML, CSS,
SML, XML-RPC, Soap
Accomplishment in banking
. applications, security (crypted
databases, file systems,
firewalls) and credit card
processing.
Candidates should also have a
minimum of five (5) years
experience and proof of
webpage development.

(PostgreSQL,
)

Please send
particulars to:
PO Box C56766,
Suite #777, Nassau,
The Bahamas,
Attention: Human Resources
Manager.

TRAINED K3 & K4 TEACHER
NEEDED, 28YRS OR OLDER
SUMMER WORKER NEEDED
TEL: 326-3777

ONE HANDYMAN
Phone 323-7527.

Open Audition
Call For all background
singers/dancers -

Can you sing harmony, are you
a great dancer?

Here is your opportunity to
enter the Music Business
Wed. 10th May @ 11 a.m. @
Club Nirvana on Elizabeth

resume and

needed.

Avenue.
Please come prepared to
perform at least 2 songs and

one dance routine. Give a brief
history of your experience or
submit it in advance

At HYPERLINK
“/ym/Compose?
To=sharpexecasst @ yahoo.com

sharpexecasst @ yahoo. com to
Bren your audition spot..
er 200 "applicants
ed |





trae i eee Ve

i

SQL oriented |

alfeady “(

Viva Wyndham
Fortuna Beach Resorts
Invites applications for the

position
Of
Director of Sales

All applicants must possess the
following Attributes

Excellent Leadership Skills
Excellent Communication Skills
Excellent Interpersonal Skills
Advanced Sales/Sales
Training Skills
Excellent Organizational Skills
In-depth Knowledge and
Experience of Points/Credits
System

The successful applicant must
possess minimal computer
skills in MS Word, Excel .and
Power Point, Be creative, self
motivated and flexible. Three
(3) years minimum experience
as Director of Sales or Asst.
with proven track record and
statistics

Dampensation' package

includes:

Override on Sales
Override on Closing Cost
Attractive Bonus Plan
Medical Coverage
Relocation & Housing (non
G.B. Residents Only)

Send Cover Letter and Resume

to F
HYPERLINK "mailto:
todd @ vivaresorts.com"
todd @vivaresorts.com or fax to
242-373-8591

WANTED: Experienced Travel,

Facilitator. Must have at least
two (2) years travels tour
package sales experience.

Must have a good grasp. of

conversational English &

Spanish (3rd language a plus),

excellent

reocding& reporting skills,
excellent presentation — skills.

Must be computer literate in all

Microsoft office program

formats, required cover letter,

two (2) written references, valid
police record and resume.

Please forward all resumes and

additional documents:-

-By hand: Wells Legal &
Corporate Services, c/o
Vacation Magic Ltd, Columbus
House, Ground Floor, East &
Shirley Streets.

-By Post O Box N9665,
Nassau,Bahamas.

-By Fax 322-4967, or 813-831-
5323.

-By email: eearld @att.net.

WANTED IMMEDIATELY
1 MALE FACTORY WORKER
WITH DRIVER'S LICENSE
AND 1 FFEMALE FACTORY
WORKER. CALL 325-8977/8.
SALARY $175.00 PER WEEK.

WANTED ONE FEMALE OR
MALE BUS DRIVER
CALL 325-7606

WANTED: A
Carpenter/Handyman, $150 per
week. Contact 326-6227.





YCatpe: oe ' yt
1 week..Contact,3 6 6227).

at eh




THE TRIBUNE



GENERAL MANAGER
Applicants are invited from
suitably qualified Bahamians to
fill the position of General
Manager in an_ international
beverage firm. Applicant will be
responsible for managing the
overall operation in Nassau and
Freeport with functional
reporting to the Caribbean
Regional Senior Vice President.

Applicant must be able to
develop and execute strategic
operating plans for all aspects
of the Business Operation.
Must. Develop and adhere to
established budgets through
management and achievement
of annual profit and loss targets

Must. be able to achieve
marketplace growth through the
development and execution of
key initiatives, including trade
development, key account
sales and service, cold drink
and - fountain sales and
service, providing a high level
of customer service to existing
accounts, analyzing the
customer base within the region
and identi
sales while ensuring — high
quality products with efficient
distribution. 5





This incumbent will have all

financial reporting, budgeting
and P& L_ responsibilities
including achieving sales

volume, profitability and margin
goals.

Additional responsibilities
include implementing high
quality training programs for
route sales, providing timely
and accurate sales forecasts,
identifying trends and
opportunities and creating a
supportive selling environment
with the region.

Requirements

For successful performance in
this position, this incumbent
‘must possess a _ Bachelor's
Degree minimum; a
Master's Degree is preferred. A
minimum of 10 years
experience in a soft drink and
manufacturing industry
including regional management
sales & marketing with budget
and P&L responsibilities
included. This incumbent must
possess strong _ leadership
skills, excellent written and
verbal communication skills and
proven organization and
planning skills. Applicant must
e highly motivated with the.
ability to handle stress and
meet established deadlines as
set by the Caribbean Region.
Applicant must be competent in
the use of Microsoft Excel,
Word, PowerPoint, and
Outlook.

Only Bahamians Required

Please send Resume to:

Human Resources Department
P.O. Box N-3004
Nassau, Bahamas

WANTED:. - A
| Carpenter/Handyman, $150 per

4 week..Contact 326-6227.



Yuba ove &

Wrist

ng potential major ¢



THE TRIBUNE

MODES DANCE ‘SCHOOL
IS SEARCHING TO HIRE A
QUALIFIED
DANCE INSTRUCTOR
SPECIALIZING IN. LATIN
DANCE INSTRUCTION TO
TEACH THE FOLLOWING
DISCIPLINES, _- MODERN,
JAZZ, BALLET, GYMNASTICS

AND HIP HOP IN BOTH
SPANISH _ AND ENGLISH
LANGUAGES. PLEASE

FORWARD _YOUR_ RESUME
. AND COPIES OF TEACHING
CERTIFICATE TO:

MRS. DE SWANTON,
MODE DANCE SCHOOL.
P.O BOX SS-19387,
WONG’S PLAZA,
MADEIRA STREET,
PALMDALE,
NASSAU, BAHAMAS.
TEL:328-8123 © FAX 328-8124

NEEDED URGENTLY
1 BARBER
3 NAIL TECHNICIANS
TO RENT BOOTHS.
2-3 YRS EXPERIENCE CALL
392-6238 TO REGISTER.

URGENTLY NEEDED
NAIL TECHNICIAN
(CHRISTIAN )

TO DO NAIL ART.
Basic Salary and
Commission.

PHONE 328-1250.





WANT
MOTIVATED BAKER
ASSISTANT SALES
ASSOCIATE CLEANERS
SALES PERSONS
FOR OUR EXPANDING

BUSINESS. TEL 326-1680.

ONE (1) PERSON WANTED

FOR THE FOLLOWING
POSITION: ;
ACCOUNTS MANAGER -

Candidates Must
following criteria:
* Knowledge of both US and

have the

Bahamian accounting
_ systems
¢ Capacity to organize and
manage accounting
department

* Knowledge of presentation of

accounting cuments. for
auditors
e Fluency or very high

proficiency in French
Candidates should also have a
minimum of five (5) years
experience in accounting and
held a minimum position of
accounts supervisor.
Please .send resume and
particulars to: PO Box CR-
56766, Suite $777, Nassau,
The Bahamas, Attention:
Human Resources Manager.

WANTED: NAIL TECHNICIAN
Rental Apartment in prime
location near the Mall. Phone
361-7164(E). 558-7745(D).



FOR ALL YOUR DISHNET
Direct TV, Pansat Sales
Installation and Programming.
18”, 24” and 30”.
Satellite dishes. available.
Phone 324-5467, 636-3916.

CERTIFIED

BE ES
Get RID of _
Stinging Bees.

Call for price. 393-3939

FOR ALL YOUR
Upholstery and ilnterior
decorating needs,
Call the best in town
RSP Enterprises.
Ph/Fax 356-5973.

_ VISIONS OF BEAUTY




















Is your hair natural and you’re
not sure what to do?
Call Tammy, 328-1906
Visions of Beauty,
Mt Royal Plaza
*TwisteLockseTreatments,
¢Facial/Leg Waxing.

FINDING SOMEONE TO
WORK FOR YOU?
’ WHATEVER THE JOB,
1 CAN FIND THE PERSON.
CALL MRS JOHNSON AT
392-6238.

CROCHETING IS A HEALTHY

THERAPY that relaxes you.
Join Crochet Classes.
May 13, 2006.

For info call 362-4211, 9-5pm,
ask for Lilly Burrows,
326-8533 after 6pm.

ERICA’S DRAPES & BLINDS
TEL: 356-3801, 455-9939
Bahama Ave off Blue Hill Rd,
4th Building right
Specializing in: Drapes, sheers,
fancy __valances, cornices,
vertical, mini & horizontal
blinds, bamboo roll-up, roller
shades, sunburst, French door,
bedspread, throw pillows.
We repair vertical tracks &
rods.

LADIES!!

Do you need your make up
professionally applied for that
special occasion?
CALLTAMMY,
364-8034/426-7473.

NEED A GRILL MAN for
Reception, Party, Wedding,
Regatta, Hotel function,
Anniversary, etc.
Phone 361-0622.

PANSAT COMPLETE
SYSTEMS INSTALLED WITH
DISH 500 DISHES OR 18”.
PROGRAMMING . FOR ALL
CARDLESS RECEIVERS

ALSO AVAILABLE. 477-4473.






DO YOU NEED HELP

LADY seeking job to care for

‘| LADY SEEKING PART TIME





STING BARGAINS!!! INTE

SEASONAL BATHROOM
‘DESIGNS
3-pc Bathroom Rug Set
Shower Curtain
Window Curtain or Valance
Towel Set
Trash Bin set
Floral Design
ALL for $200.00
Contact Mrs Hartnell,
Tel:502-2350

Cell:436-3914

DON’T HAVE ENOUGH TO
BUILD YOUR HOUSE?
COME AND SEE US -
WE HAVE A NEW _TYPE OF
CONSTRUCTION - THAT MAY
MEET YOUR BUDGET -
COME TO OUR OFFICE AND
VIEW OUR VIDEO ON NEW
TYPE OF CONSTRUCTION
328-2709.

LEARN TO PLAY S|
OR IMPROVE YOUR GAME
WITH LESSONS

*SQUASH PROFESSIONAL
PSA CERTIFIED
*SQUASH LESSONS
eJUNIOR DEVELOPING
PROGRAMMES
*SQUASH CLINICS
SQUASH
EQUIPMENT & STRINGING.
TEL 242-323-7797

AFFORDABLE

NAIL CLASSES



ADMINISTRATIVE ASST
seeks part time or temporary
work. Leave a message at
364-3620.

CERTIFIED, NURSE ASST to

362-2541, 436-5416.

Caregiver to look after the Ww P

elderly morning, noon & night FOR GRADES 4&5

of House Sit or stay over. By MAY 12-JUNE 5

hrs or day, or House Sit Elderly FRIDAYS & MONDAYS.

after 10am, 6pm. Tel 394-3325 | caLL THE SPANISH CENTRE
394-3481

HONEST, MATURE LADY
seeks days work or weeky job
cleaning and rons
babysitting. Mon - Wed or.
Sundays. Please: call Kerry at
454-9517.

| AM AN HONEST, RELIABLE
person seeking to work on any
job any hours from Mon-Fri.
Call 535-0769 ask for Kay.

LADY SEEK JOB TO CARE 4
THE ELDERLY AND DO
LIGHT HOUSE WORK 454-

7770, TAMARA Computer Courses -

Learning Resources and
elderly person, days or nights.} Technical Simulations 356-

Call 535-4642.

4457
geocities.com/radolphbowlin

COMPUTER JOB.
CALL AFTER 6PM, 393-8705
PATRICIA

RELIABLE LADY seeks job to
care for the elderly, days work
baby sitting live in or live out.
Contact 423-7905.

SAN SOUCI -
LLADRO,
CLOTHING, BICYCLES
COMPLETE —_ GYM








AND MUCH MORE

NEVER, BEEN DONE before,
generate thousands of dollars

in days not weeks simply | 14HP PRESSURE CLEANER.

returning phone calls, nO] GOOD CONDITION. $475.00
selling! No explaining! No} ONO. PHONE 357-4790.
convincing! Must have a

computer and a vonage or long
distance phone. 305-394-9485.



in
Call 535-1880.

FOR SALE
Frigidaire Refrigerator $500
Stove and Dish Washer $350

PHARMACY TECHNICIAN
COURSE

Regional Certification Available

$400
Call Hepson, 356-4860. Phone 324-4507.

...BY BRADLEY WEECH

APPAREL

Available Classes start June 19
2006. Call to reserve seat by
June 6th. Contact 394-4925,

2006 SPANISH FLUENCY
ORKSHO





MAY 28 7:00AM — 10:00AM
PERFUME,
NEW —_LADIES,

WITH
BICYLE AND FREE WEIGHTS



19” COLOUR TV with remote,
in good condition, asking $80.

Whirlpool Washer and Dryer

ADO RS OE MAY 11, 2006, PAGE 37



ARTICLE SALE
David Yurman matching
earrings and bracelet $500
Painting (Bahamian) $80
Two motion sensor light $15
each
Bicycle $100
Land handbag(new) $100
Filing cabinet $175
Roll-away bed $80
Small fride for bedroom $90
Phone 454-2024.

ATTENTION BAKERS!!

Sy
RACK OVEN FOR SALE
$23,000 NEGOTIABLE

MRS JOHNSON 357-4298
MR ROBINSON 426-4703 OR
328-0967

MR TAYLOR 424-4126. .



Brand New Computers
For sale $500.00

poe unliee’ Children Books | $500

Make your child the star in their
favorite cartoon story.

Phone: 393-0715

SATELLITE BOX
PAN-Sat $280.00
Razor V-PH. $289.00
Tel 340-1313.

OFFICE DESK FOR SALE
$125.00. GOOD CONDITION.
TEL: 326-3777

FOR SALE

Clothes Rack $150-$250
Manicure & Gift sets $5.00
Wedding Dresses (sale or rent)
Gift boxes & bags $10
Watches (name brand) $100
Church bagsthats $10
Flower arrangement $45
Call for more

Tel 341-1716 after 7pm.

FCR SALE

Wooden shelves 9ft wx6th hx
1/2 ft d, $50
Colour Bubble Jet P.C. Printer
$55.00
Ironing Board $15
lron $5
2 white Wicker
Headboards. $50

Phone 393-1627

FOR SALE
Washer & Dryer in very good
cond $500 for the set.
50 gallon Gas Water Heather,
like new. $500
Cell © 357-7266, 393-4317,
Cathy.

21st CENTURY WELDING
co

#37 WILTON ST,
NASSAU, BAHAMAS

BIG SALE
OFF PRIMER EGE

Twin

0%

TORM SHUTTERS
EL: 325-4624, 325-2830



PING BARGAINS!)






FURNITURE SALE
Sofa, love seat & chair with
FREE side table $450. Call
361-4482.

GENERATOR WITH HONDA
ENGINE - TOP CONDITION,
8 HOURSE HONDA ENGINE,
5,000 WATT 120/240 VOLTS.
$497 IS A STEAL!
SIMILAR GENERATOR SOLD
NEW FOR $2,300.00 AT JBR
TEL 436-6470

ITEMS FOR SALE
Superdish Antenna
excellent condition,

121
System,
$350

Outdoor Ceramic Tiles $3 per

sq ft.
Call 393-4637 after 5pm.

MUSTSELL |
Living room black leather set

een & gold Coffee Table set

fA
=

Black & gold Lamps $50
Sofa Sleeper black $150
Call 324-8287 after 6pm

BRAND NEW PANSAT 2700

satellite receivers
$350 with switch 18”, 24” , 30”
Satellite Dishes Available.
Phone 324-5467, 636-3916.

A-1 PAYLESS
TODAY TO SUNDAY

Computer Complete only $225
Single Mattress set $150
Queen Mattress set $199
Dining Table 6 Chairs $295
Pressure Washer Pump $250
Elec Scooter wheel chair only
$499
Wheel Chair Crotch and Walker
only $299
Microwave Oven $75
Soft & Love Seat $299
Sofa Bed $299
New Chester 5 Drawer $160
4 Bar Stools $200
Exercise Bike $99
Manual Tread Mill $150
Elec Tread Mill $350

Tel 362-6040

OWNER MOVING SELLING:
Char-broil BBQ with full gas
tank + 1 burner, $80
Oval standing mirror
Wood-you $80
eer Bike digital feedback

from

Antique Bench from “Interiors”
3 drawers $450

4.3cq.ft. Refrigerator 460
4.3cu-ft Standing Deep-Freeze

$70
525-0652, 322-6221 after 6pm

FOR SALE
Work Bench @ 20'x8’, $20
Trunk $10
Wood Storage Boxes $3 ea
Sofa & love Seat $500
Desk $20
Coffee Table $10
Sofa Chair Ottoman $400
3 Ring Binders ten fo $5
Call 324-1146 call after 7pm.

TWO OF THE LATEST
MOTOROLA GSM PHONES
FOR SALE.

BOTH ARE BRAND NEW AND
OFFERED AT EXTREMELY
LOW PRICES $300
CALL DAVID AT 393-1810



PAGE 38, THURSDAY, MAY 11, 2006 THE TRIBUNE

1 Gal. Water .. +0. 16z. Water ....
viper Litre .. q
Balls : ‘Famous Amos oz.
ears 7: Ritz Bitz 200z .
Coke Soda ( 10, Sodas 20 oz ...
Chips 12 for...3.99 / 50ct...16. Sodas 20 oz.
Pies 1.99

Juice 12 oz re tt

20.00 per case.

WE MEET OR BEAT LOCAL PRICES.
WE ALSO DELIVER TO MAIL BOAT FOR FAMILY ISLANDERS. ~

FIRST BAPTIST
CHURCH

THREE SERVICES SUNDAYS
7:00 AM, 9:00 AM, 11:15 AM

PRAYERS FOR YOUR BABIES EVERY SUNDAY
WeDDINGS*e FUNERALS*HOMESe CARS Cons, ,
Just call the numbers listed, eee ee LP. i
ll personally handle your requesi.

(242) 393-5798, (242) 323-6452

“Gome and Worship.”

° Tired of Nassau?
¢ Want a change?
° Want to write your own paycheck?
High-tech Automotive Centre
Requries:
eta * Technicians

aT Sh) ULC ELS ASE Certification or other specialty an asset.
BS Lae eS Please send resume with passport size photo & police

4 record to:
Free Limo Ride with Prom Queen Gowns :
CUT tehrcin tee Tom aah ‘ P.O. Box F-40012, Freeport, Grand Bahama
GP BATTERIES
w/ specialty Batteries

: SATELLITE RECEIVERS FROM - $275.00 & UP
RABEN PAYDAY ADVANCE A View Sat w/Program Guide

NEED NO CASH! RPA Offers From $50-$500 | D Cc

FAST EASY APPROVALS ee
Government Employees need Salary Deduction 42,000 BTU $850.00
Refurbished A/C Wall Units from $100.00 & up

Bequirements
Job Letter, Passport or Driver’s Licence, NIB, (2 recent pay stubs)
Salary Deduction Form to be Stamped By Payroll Dept - Immediate funds. T-SHIRT PRINTING

Hours: Monday-Thursday, 10AM-4:30PM * Friday, 10am-3pm WE ALSO HAVE SPORTS WEAR

Opp. Hilton Hotel #1 Cumberland St, behind Duncan Donuts CALL TODAY 323-8280

aa Tey) ae) | DUC TLESS
MITSUBISHI Py

RESIDENTIAL » COMMERCIAL
P.O. Box EE-17434 Ductiess Air Conditioning

#46 Arundel Street & Heat Pump Systems Q z se sas
Nassau, Bahamas | Remote Controlled & Energy Efficient Low Tuition 7:00AM - 5:50PM
fe eee * Mr. Slim® Split-Ductless Systems Johnson Road (Follow Signs)

Fax: (242) 323-0577 ||» CHTY MULTI VRFZ Systems Ty} sista l) Tel: 364- 6238 / 426- 0074

Email:blueprintcity@yahco.com | - * CENTRAL AIR UNITS

MIN TERN ATAOM AL

Online at Bark BaharnasOnilirne.com

BLUEPRINT CITY CO. LTD. N
‘Combine Curriculum & Flat screen Teaching —





THURSDAY, MAY 11, 2006, PAGE 39

THE TRIBUNE



a 5 Basy GeLecTiol Or asxviass

~~ CARTWRIGHT’S DIVE
& BOAT CLEANING SERVICES

. THE SOLE MACKINTOSH-ONLY
TECHNOLOGY SOLUTIONS COMPLETE UNDERWATER BOAT MAINTENANCE
PROVIDER IN THE BAHAMAS :

* SUPPORT

® SERVICE
Located: Norvin s Plaza, Wulff Road

BOTTOM CLEANING +» PROPELLER REMOVAL - ZINCS CHANGE :

(FREE ON ANY CLEANING JOB) Zs see Cat ey

Lowest Rates Available - Prompt & Reliable Service : {East ol Bahamas Pubic Service Union}
326-8802

CALL: 341-5021-office, 557-9633-CELL

THE SUMMIT RETREAT | |-rony Realty cx. 2: |

PO Box SS-5988, Nassau, Bahamas

WESTRIDGE, JFK DRIVES (Quiet & secluded)
GRADUATIONS, WEDDINGS, RECEPTIONS, te = : :
CONFERENCES, RETREATS, YOUTH CAMPS, PRIVATE Sales * Rentals * Appraisals &
GET-AWAYS. A/C DORMS, CHAPEL, KITCHEN, DINING * Management P
ae
Consultant

ROOM, PRAYER CLOSETS.
Ph/Fax: (242)361-7880

Mani
_ Sculpture Nails & Nail
on One Alrorug® ( GROUPS UP TO 80 PERSONS )
327-0667 / 424-3330 Email: rudy @batelnets.bs S
www.thesummitretreat.org yo 3 Web Page: www.ipm-realty.com =
occurs by al banks”

VIEWING BY APPOINTMENT ONLY |
TH EOLOGY &
COUNSELING

Bachelor’s, Master’s, Doctorate.
one Course, One Weekend per month

VISION INTERNATIONALL UNIVERSITY

Driven for pependaniity:
Accredited and M.O.E. Registered -
424-3330

---- Telephone .----
323-8427 (Sales) OR 326-6380 (Rentals) - shoe ' :
: = Details: 327-0667 /

Visit our site:
www.avis.com.bs/preownedvehicles.hml
PROFESSIONAL Door to beer Malt Service AVY DUTY PLASTIC BARK
SERVICES FOR is mere: Can be used for: Garbage Disposal ¢ Animal Feed

Can’t get to the Post Office? Water or Fuel Storage © Drink Cooler © Sgal for mopping
.55Gallon-$35.00/40.00-30Gallon-$25:

= apecial Rrelects |= | Flamingo Express installs a mailbox
Reports - || on your premises and deliver. your 2
mail to your home for only $25.00 wih = 15 Gallon - $15.00 © 5 Gallon - $ 5.
We Ship Yo The Family Island

mi Proof-reading | per month plus start up FEE!!
Ee euinlbistratlve Call
ervices : % 5
FLAMINGO EXPRESS = __,,, CALL: 393 3667 |

322-2347



Tei 364-8551
_ Cell 427-0055
studiosflamingo@yahoco.com

EXPERIENCE “EFFICIENCY i CONFIDENTIALITY}

BOOST YOU R Restaurant & Pub -Open Daily + Live By Satelite English Premier Soccer,
B U Sl N ESS Cricket, Rugby at PU er ACHE sR imvitations
) SERVING - Shepard Pie + Cracked Conch + Bangers & Mash -Chicken Wedding Hymn Sheets
Pot Pie + Grouper Fingers + Fried Chicken -Steak & Kidney Pie - SESE Sess ae
Seafood Platter - Soup » Sandwiches + Salads - Draft Beer - Stella - x
Fosters Becks and Full Bar - Airconditioned Bar - Outdoor Patio

ADVERTISE
Location:Haynes Oval West Bay St. Oppo. Arawak Cay
Tel: 326-4720

HERE
EASTER EGG HUNTING ON: ar Sao) 27





PAGE 40, THURSDAY, MAY 11, 2006

IRbahamas.com
ep y WEL hs pe ere wire,

OcEAN CLUB
RESIDENCES #887
Eignty 3 bed 3.5 bath condo-
minium residences and 8 peni-
houses. Quality Interiors echo
the refinement of the One &
Only Ocean Club. Only 5 apts.
<. Prices begin at $1,850,000.

fa@Damianos.com

Prospecr RIDGE
#3240 Elegant and spacious
home with 4 bedrooms,
ensuite paths, separate dining,
family room, tennis court,
poo, poolside guest cottage
on 1,21 acres. $950,000.
Monty. Roberts@SothebysRealty.com
242.424.4944

Hien Vista #3139
impeccable 2 bed 2 bath w/
study/nursery. Refined details
and finishes, luxury master
suite, marble baths, enchanti-
ng pool, lush landscape &
much more. $435,000.

Nick Damianos@SothebysRealty.com
242.427.9778

CABLE BEACH #2622
European ambience at this
well built 4 bed 4.5 bath
_waterfront residence with 98
feet on the water x 280 feet
deep. Ideal for condo devel-
opment. $1,650,000.

Virginia. Damianos@SothebysRealty.com &

hesGree 242.322.2305

FEATURED PROPERTY

| MONTAGUE HEIGHTS #3306
3,400 square foot 3 bed 2 bath home plus | bed apartment

on double lot. The rear adjoining lot has access from another |
road and will accommodate a second home. Tiled floors,

alarm system, A/C, 30,000-gal. rainwater tank. $695,000.
Suzanne.Harding@SothebysRealty.com 242.393.1179

| LOTS & ACREAGE
| Westwinps Duplex lots 60° x 100° from $80,000. eg
| YAMACRAW ROAD Single & multi-family lots - 80’ x 100". 10%
| down. Financing available on single family. Prices start at $82,000. §
| SourH OceAN Single & multi-family lots from $90,000.
| JACARANDA Residential lots 90' x 120’ from $120,000.

=| EXCLUSIVE ®
| Winton M&aApows Residential fot 8.000 sq. ft $120,000.

OcEAN Ciup Estates
#2476 Attractively designed
three bed 4.5 bath luxury
golf course residence on ele-
vated property that slopes
gently to a lake below.
US$4,500,600.

Vieginia Darnis

242.322.2305



SothebysRealty.com

OcEaN Cius Esrates
Beautiful 1/2 acre golf course
lot comes with aif the ameni-
ties of the Atlantis Resort
and Spa and the One & Only
Ocean Club Resort and Spa.
$1,205,000.
Ridley.Carroll@SothebysRealty.com
242.477 4928

SANDYPORT #3188 One
of a kind, large, 2 bed, 2.5
bath, end townhouse with
private beach. Large dock
slip, balconies overlooking
the waterway and views of
Sandyport Bay. $495,000.
Richard Sawyer @SothebysRealty,com
242.359.0367

West Bay STREET

#1034 Two storey 3 bed 2.5

bath family home with office.
Great ocean views, gazebo,
deck, two 2.5 ton central
AJC, automatic generator &
more. $925,000.

George.Damianos@SothebysRealty.com }

242.362.4211

“OLD Fort Bay #3055
Canalfront Colonial style 4
bedroom 5.5 bath home.
Expansive verandahs, lush
landscaping, swimming pool,

small beach and private dock. i

Reduced to US$1,825,000.

Richard Samyer@SothebysRealty.corn |

242.359.0367

ELEUTHERA Oceanfront lot 90’ x 170° -.$130,000.
IndiGO Residential lots 60° x 120’ from $150,000. Triplex
lot $170,000. Community pool, tennis courts & gated entrance.
BERNARD ROAD Commercial lot [00' x 215’. $180,000.
SANDYPORT Lots in last phase from $205,000,

@ Great Harpour Cay Waterfront 130’ x 330°. $275,000.

THE TRIBUNE



OCEAN PLace, |
Parapise IsLanp
#2558 Harbourfront 2 and
3 bed luxury condominiums.
Concierge Desk, Business
Center, Resort Amenities &
Dock slip avail. Pre-construc-
tion prices. From $879,500.
info@Damianos.com

SANDYPORT #3253
Canalfront Colonial 2 storey
residence and cottage on 2
jots with 175 feet of water
‘frontage. Grand waterway
views, spacious Master suite
and verandahs. $2,600,000.
George Darnianos@SothebysRealty.com

EXCLUS VE 242.362.4214

Vista BELLA #3323
Contemporary style ocean-
front 2 bed 2 bath condo in
one of Cable Beaches exclu-
sive gated communities offers
privacy and security. Crystal
clear ocean views. $530,000. §
Mark.Hussey@SothebysRealty,com
242.457.4308

Oczan View HEIGHTS,
ELEUTHERA #2676 g
Immaculate and well built 2 §
bed 2 bath residence near
Governor's Hbr. Gorgeous
sea views and plunge pool,
Furnished. US$490,000. |
Jonathan. PMorris@SothebysRealty.com |
242.332.2820 E

~DELAPORTE #3311
Contemporary 3 bed 3.5
bath townhouse with gor- |
geous ocean views and beach :
access. Waterfront gated
community with swimming
pools, $615,000.

Richard Sawyer@SothebysRealty.com L oe

242.359.0367

RENTALS

SANDYPORT Clipper Island 1b 1b canalfront apt. $2,000.
DELAPORTE Oceanfront 3b 3b, sea views. $3,500.
SEAPOINTE£ 3b 3b townhouse, beachfront unit $5,000.
SanpyPart Island cottage Governor’s Cay. $5,500.

West Bay Oceanfront home, 4 bed, office, garage. $6,000.
Sanpyvport Executive canalfront 3b 3.5b, dockslip. $7,000. jae
PARADISE Is. Hbrfront 3 bed 3 bath apt dock slip. $7,500. iam
IsLANDS AT Op Fort Bay Key West. Florida style &
waterfront 3b 3b cottage, boat dock, great views. $8,000.
Fox Hitt Creek Large waterfront property 3b main house

_plus 2b cottage. Dockage available. $9,500.

SANDYPORT Executive canalfront 4b 4.5b, dockslip. $10,000.







Full Text


‘m Lhe Tribune

?'m jovin’ it.

HIGH
LOW



72F

CLOUDS AND
SUNSHINE





86F

The Miami Herald —

BAHAMAS EDITION



| the per, ect
| GL wT.
| from





seit.



Volume: 102 No.141

THURSDAY, MAY 11, 2006





Atficer si

Sandy Mackey declines to
answer if he shot inmate

>

= By NATARIO
McKENZIE

WHEN asked by Coroner
Linda Virgill if he shot inmate
Neil Brown, prison officer
Sandy Mackey declined to
answer.

Testifying without his attor-
ney, Mackey exercised his right
not to respond to this and sev-
eral other questions, including
what type of weapon he
received from officer-Neko Sar-
gent on the morning of the Jan-
uary 17 prison break, and how
many times he fired the
weapon.

Noting that during earlier tes-
timony by witnesses, it was indi-
cated that Brown may have
been shot on two occasions, she
also asked him whether the
shooting took place in the bush-
es or on the prison bus on
Yamacraw Road.

“I choose to remain silent,”
was Mackey’s response to each
question.

He also declined to give any
information when the jury was
taken to an area on Yamacraw
Road where three inmates were
reportedly captured.

After more than a month,
witnesses’ testimony in the Jan-
uary 17 prison break that led to
the death of prison guard Dion
Bowles and inmate Brown
wound down yesterday.

After a final witness is called
today, Coroner Virgill is expect-
ed to sum up the casé.

Officer Mackey, who is rep-
resented by lawyer Dion Smith
of the law firm of Lockhart and
Munroe, was implicated by ear-
lier testimony as the officer who
shot and may have killed
Brown.

Mackey was recalled on

Tuesday, but informed the court
at the time that he had not been
- able to contact his lawyer.
When he was called to the
witness stand yesterday morn-
ing, he was again without coun-
sel and informed the coroner
that he had still not been able to
‘communicate with Mr Smith.
Noting this, Coroner Virgill
informed officer Mackey that
he could remain in the witness
box and say nothing or answer

the,.questions that.were.putsto-

him,'which would then be sub-
mitted as evidence.

At that point, Ramona Far-
quharson, lawyer for prison offi-
cer Sergeant Steven Sands,
interjected and said that she
would try to contact Mackey’s
lawyer on her cell phone.

Corner Virgill said that she -

would allow it, but stated that
she found it “very rude” that
Mr Smith was not present to
represent his client.

The court adjourned for a few
minutes, however when it

reconvened Ms. Farquharson

said that she had still not been
able to reach Mr Smith.

She said his.secretary had
informed her that he was in the
Supreme court, and apologised
for his absence.

Coroner Virgill noted that it
was not officer Mackey’s fault
that his lawyer was not present
and that it was the duty of the
lawyer to inform the court of
any intended absence.

Coroner Virgill then pro-
ceeded to question Mackey.

Sgt Herman Major was also
recalled to the witness stand
yesterday.

Major stated that he was in

SEE page 13



a THE Rev F ather Theophanis Kolyyas i is laid to rest yesterday at the Greek Orthodox Church on West Street as Bish-
op Savas looks on. Father Kolyvas was ordained in 1953 and served the next 53 years: as parish priest, school teacher and

choir director. ¢ pe PAGES 2, 10 & 11.

Officers mentioned
in Coroner’s inquest
‘still working or
are on vacation’

ll By PAUL TURNQUEST
Tribune Staff Reporter



PRISON officers whose names have
surfaced during the Coroner’s Court
‘inquest into the deadly prison break of

; January 17 are either still working at Her
, Majesty’s. Prison or are on\ “vacation”,
: officials claim. |

At a press conference yesterday Prison
Superintendent Dr Elliston Rahming

~ stated that names have alsd been for-

warded to the police as allegations of
corruption and abuse continue to arise
surrounding the case.

Shortly following the Bapbiike of For-
rester Bowe and Barry Parcoi, two of

SEE page 13





Senator wants Roberts
connection to Arawak
Homes clarified

QUESTIONS referring to Works Min-
ister Bradley Robert’s possible involve-
ment in Sunshine Holdings as well as the
probable impact of Arawak Homes’ eco-
nomic interests in government projects,
are expected to be addressed i in the Sen-
ate.

In questions added to the agenda of
the Senate, FNM Senator Carl Bethel
wants Minister of Energy and Environ-
ment Dr Marcus Bethel to clarify Minis-
ter Roberts’ connection to Arawak
Homes.

Mr Bethel is asking if Minister Roberts
is the same Bradley B Roberts who is
recorded in the 2001 annual statement of
Arawak Homes as the vice-president and
director of that company.

“Will the government confirm or deny
the. fact that 20,000 shares in Sunshine

SEE page 13



(Photo: Felipé Major/Tribune staff)



US Embassy official:
Cuba ‘ ca ideal
member of Human
Rights Council’

@ By RUPERT MISSICK Jr
Chief Reporter

THE US does not regard Cuba as an
ideal member of the newly elected
Human Rights Council, Dr Brent Hardt,
deputy chief of mission at the US
Embassy, told The Tribune.

There were 63 countries vying for the
47 seats on the new council. The results
of the first round of secret balloting
among the UN membership revealed
that Russia, China, Cuba, Pakistan and
Saudi Arabia, were voted in, all nations
regarded by many as unworthy of mem-
bership because of their own records of
abuse and repression.

SEE page 13



Breakfast at Subway...

A Delicious Morning Ritual



\ BREAKFAST DELI
me SANDWICHES®. |:

A DELICIOUS WAY
TO START YOUR DAY!

2

R WAY®



2006 DAL,


THE TRIBUNE

tt, 2UUO




Make Mothers Day Extra S pecial
With a gift from Lowes Pharmacy



# GOVERNOR General Arthur Hanna expresses his condolences to Father Theophanis Kolvyas’
wife Maria and family at the priest’s funeral yesterday







(Photo: Franklyn G Ferguson)

HARBOUR BAY _— SOLDIER ROAD










393-4813 394-6312
8am-8:30pm 8am-8pm .
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a
THE TRIBUNE




ee

landing

mM By DENISE MAYCOCK
Tribune Freeport
Reporter

FREEPORT - A 19-
seater aircraft en-route to
Fort Lauderdale with sev-
en persons onboard made
an emergency landing on
Tuesday at the Grand
Bahama International Air-
port.

According to reports, a
twin engine SAAB 34
piloted by Captain Mark
Grayglas had taken off
from Marsh Harbour and °
was headed to Fort Laud-
erdale when the pilot
heard a loud banging noise
and saw smoke inside the
cockpit. ,

A co-pilot, one flight
attendant, and four pas-
sengers were also onboard.

Mr Grayglas was grant-
ed clearance by Grand
Bahama Air Traffic Con-
trol to land at the airport.

He was able to land
without incident.

The aircraft was towed
to Freeport Flight Centre
to undergo repairs.

In the meantime,
arrangements were made
for the passengers to be
flown to Florida on anoth-
er aircraft.

The Civil Aviation
Department is investigat-
ing the incident.

BARBER CHARGED

A 39-YEAR-OLD bar-
ber was arraigned in the
Eight Mile Rock Magis-
trate’s Court on firearm
and ammunition posses-
sion charges.

Liston Jones, the owner
of Executive Barber Shop
in the Harbour West Shop-
ping Center at Eight Mile
Rock, appeared before
Magistrate Debbye Fergu-
son on Monday.

He pleaded not guilty to |

possession of .9mm Smith
and Wesson semi-automat-
ic pistol along with 54
9mm bullets on May 12.

Mr Jones was granted
$5,000 bail with surety.
The trial will be set on Fri-
day.

If the bail conditions are
not met, Jones will be
remanded to Her
Majesty’s Prison until the
trial date.

NEXT EVENT
27th & 28th May, 2006



ee an a=e

THURSDAY
MAY 11
5:30am Community Pg./1540
1 11:00 Immediate Response - Live
12:00 ZNS News Update

12:03 Caribbean Today News
12:05 Immediate Response
Cont'd
Legends: Henry Pratt











1:00
1:30 Gumbo TV
2:00 Carmen San Diego
2:30 Fun
j



3:00 Bishop Leroy Emmanuel
3:30 Tiangello Hill

4:00 Dennis The Menace
4:30 Carrnen San Diego









4:58 ZNS News Update

[5:00 FunFarm

}5:30 441

16:00 This Week In The Bahamas
6:30 News Night 13

17:00 The Bahamas Tonight

18:00 Native Stew

18:30 Our Boys: The First



' Bahamian Opera
{10:30 News Night 13 -
11:00 The Bahamas Tonight
11:30 Immediate Response
1:30am Soren a 1540AM








(



HB By PAULG
TURNQUEST
Tribune Staff Reporter

OFFICIALS at Her Majesty’s
Prison report that security at the
facility will be enhanced to “air-
port-like” conditions to deter the
possibility of contraband being

" smuggled in by inmates, visitors,

or staff.

As of Monday, security at the
prison will include a portable drug
and bomb scanner capable of
detecting if a person has been in
contact with any illegal or explo-
sive substance within the last
three days.

Cell phones are no longer
allowed in any of the housing
compounds, and equipment capa-
ble of jamming cellular phones
throughout the entire prison is
expected to be installed shortly.

Speaking of these improve-
ments, Dr Elliston Rahming,
superintendent of the prison, said
the tragic prison break on Janu-
ary 17 has encouraged security
personnel to significantly increase
their efforts.

“The point is, while we will
never forget the tragic events of
January 17, Her Majesty’s Prison
has moved beyond that fateful
day. Rather than allowing that
tragedy to undo us, it has pro-
pelled us to re-double our efforts
to. take the prison where it ought
to have been a decade ago,” he
said.

Dr Rahming explained that
work has begun on a “proper
perimeter wall” around the
prison, and that construction is
also underway for a canopy at the
front gate for state-of-the-art bag-
gage and walk-through scanning
machines.

“We are determined to create
airport-like security conditions at

Undocumented
Haitians are
apprehended.

. THE Royal Bahamas Defence
Force patrol craft HMBS P43
apprehended 50 undocumented
Haitians suspected of attempting
to land illegally in the Bahamas.

While conducting a routine
patrol of the Exuma Land and
Sea Park, the crew members of
40-ft patrol boat detained a Hait-
ian sloop five nautical miles
north of Wadrick Wells Cay.

All of the immigrants were
removed from the vessel, taken
aboard HMBS P43 and trans-
ported to the capital where they
arrived around 8am on Saturday.

The group, which reportedly
left La Torte, Haiti last Tuesday,
was comprised of 53 men, nine
women and two children.

They all appeared to be in
“reasonably good condition,”
according to the Defence Force.

The Haitians were taken to
the Defence Force Coral Har-
bour base and handed over to
Immigration officials for further
processing and detention.

This recent apprehension
brings the number of Haitian
nationals detained by the
Defence Force in Bahamian
waters so far this year to just
over 500.

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the main entrance to our prison
facility. Once completed, in about
three months, everyone entering
the compound — from the super-
intendent to the recruit officer,
from the inmate to his mama who
has come to visit him — everyone

LOCAL NEWS

you would find in prisons in pro-
gressive countries around the
world,” he said.

Dr Rahming explained that the
new perimeter wall is expected
to take roughly a year to com-
plete and will consist of 250,000

were signed and despite numer-

concrete .blocks and miles

would be subjected to the same
of heavy-duty fencing and

rigorous security condone as

Turnquest asks for Baha Mar
agreements to be produced

MORE than a year after the
Heads of Agreement with the
Baha Mar Development Company

ous requests for disclosure, the
Free National Movement has still
not been able to see all sales agree-
ments entered into by government,
Senator Tommy Turnquest said
yesterday.

In questions put on the Senate’s
agenda yesterday, Mr Turnquest
has,asked Minister of State for
Finance James Smith to produce
documents of agreements signed



the redevelopment of the Cable
Beach strip.

: “If government refuses. or fails
to produce the documents or
agreements, what is the justifica-
tion for the continued secrecy?”.Mr Turnquest asked in his submitted

SENATOR ~
Tommy Turnquest

_ questions.

The FNM senator is asking if the following agreements exist in
writing between the government or any of its corporations and agen-
cies:

e An agreement for sale between the Hotel Corporation of the
Bahamas and Baha Mar Development company.

° An agreement for sale between the Treasurer of the Bahamas and
the Baha Mar Development Company.

e An agreement of sale between Prime Minister Perry Christie,
with responsibility for Crown Lands, and Baha Mar.

Senator Turnquest also asked if there are any agreements in writing
which were entered into by the Water and Sewerage Corporation and
BEC respectively and which relate to the sale and purchase of land.

He asked Minister Smith to answer how the continued “failure and
refusal” to disclose this information relates “to government’s claim that
its contractual arrangements with the Baha Mar Development Com-
pany are fair, open and PenSpAteny













































ie

Home ey Gt eae

pera A [242] Ee Re Be TE ) toa} ey + Fax:{242] rer C a Tee OIE





THURSDAY, MAY 11, 2006, PAGE 3

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Also, a dozen cameras that
were damaged by lightening last
year will be replaced,” he said.
“This year we celebrate our
160th anniversary as an institu-
.tion. There are numerous chal-





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and the resources — human, tech-
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PAGE 4, THURSDAY, MAY 11, 2006

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE



The Tribune Limited

NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI
Being Bound to Swear to The Dogmes of No Master

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Government hires in Public Service

WE WERE surprised at Fred Mitchell’s
announcement at the PLP’s recent mini-con-
vention that government is considering lifting
the moratorium on hiring in the public ser-
vice.

We were particularly surprised — espe-
cially in view of all the complaints over the
years of the need to trim the public service to
make it more productive — that within a
year government plans to add some 1,200
unqualified Bahamians to an already top
heavy and inefficient service.

In June, 2002, a month after the PLP
resumed power, Mr Mitchell, who holds the

Public Service portfolio, announced that the .

Christie government planned to lift the pub-
lic service hiring freeze imposed by the Ingra-
ham administration.

The government, he said then, “will hire
new people, but the question is when is that
decision going to be implemented.”

The Christie government continued the
moratorium for four years. Now with an elec-
tion less than a year away, the time is sud-
denly right.

Of course, the decision to lift the morato-
rium, which is expected to come into effect on
July 1, depends on government’s resources.
As Mr Mitchell said in 2002, government

_ can’t continue to finance the deficit “by bor-
rowing without significant productivity and
growth in the economy.”

But with an election nearing, it seems that
taxpayers are going to be lumbered with per-
sons, who by government’s own admission, do
not have the minimum educational standards
required to function efficiently in the ser-
vice. Mr Mitchell promises that, having not

‘made the grade in school, the new employees
will be trained at further public expense.

The only thing new in this decision is that
the intent has been made public. Under the
Pindling government various ministries were
quietly inundated with unqualified con-
stituents — especially in former Minister
Philip Bethel’s ministry. Most of them were
incapable of doing the jobs for which they

- were hired. However, they could be relied
_ onto mark their X in the proper box on elec-
tion day.

It got so bad that during a wage dispute
some years ago several civil servants com-
plained to The Tribune that the reason gov-
ernment could not increase their salaries
was that they had too many hangers on in
the service. In other words, there was no
money for those who in fact did the work.
Those complaining maintained that if it
weren’t for party favourites taking up space,
there would be enough in the Treasury to

pay them what they felt was their due. Is

this complaint going to be repeated?

Daily we hear of billions of investments
coming into the Bahamas, but with the excep-
tion of Eleuthera, Abaco and Exuma little
appears to be happening. When we ask why,
there often seems to be a problem with the
final signing of Heads of Agreement.

Prime Minister Christie and Tourism Min-
ister Obie Wilchcombe returned from the
recent wedding of Turks and Caicos Chief
Minister Misick, extremely impressed by the
Aman resort where they stayed. The hope
was expressed that the Bahamas could attract
the same resort to Norman’s Cay. We now
discover that if the heads of agreement,
already approved by the Ingraham. govern-
ment, had been signed in a timely fashion by

' the Christie government an Aman resort

would by now have been in full operation at
Norman’s Cay: (See story on page 1 of Busi-
ness).

In October 2002 Mr Mitchell was
impressed by the definition of public service
reform by Professor Charles Cambridge.

“I find (his definition) compelling,” Mr
Mitchell said, “because you and I know of the
complaints from and about the service and I
am convinced that if we had a more dynam-
ic private sector, there would not be so much
pressure on the public sector. So our job is to
produce jobs in the private sector so that the
country will grow.”

Is this an admission that despite all the
billions that this government claims has come
into this country; no appreciable dent has
been made in our double digit unemploy-
ment figure?

At the PLP’s convention in November

last year Mr Mitchell said government plans
to hire 300 Bahamians into the public ser-
vice. Six months later that figure has jumped
to 1,200. Does this mean that government, by
Mr Mitchell’s own definition, has failed ‘to
create a climate to produce sufficient jobs in
the private sector?

Could this possibly be because of a failure
to sign heads of agreement, process immi-
gration applications, get approval from the
BEST Commission in a timely fashion, or
because of delays in processing the many
other government permits that an investor
has to have before a project can get off the

. ground?

Something must have gone wrong for gov-
ernment to even suggest adding more dead
branches to ‘the civil service tree, branches
that in 1988 PLP Senator Sean McWeeney
said should be cut from the tree so that it
could survive. That was 18 years ago, but
those words are as true today as they were
then.





Responding

to Sir Arthu



criticism |

EDITOR, The Tribune

LAST Tuesday in your news-
paper Sir Arthur used his col-
umn to respond to my letters to
the editor (Nassau Guardian,
Wednesday, April 12 and Tues-

day April 25) where I took him

to task for this statement made
in his column on April 4:

“Religious leaders can preach
all they want against homosexu-
ality or anything else, but in this
democratic and pluralistic society
they should not be allowed to
manipulate the apparatus of the
state to force their views on oth,
er people.”

Believing’ he was overstating
his case and effectively trying to
muzzle the Church from speak-
ing to the social issue at hand I
wrote to correct his error and
show him that it was actually
homosexuals who have been
manipulating the apparatus of
society. I operate on the princi-
ple that what makes a wise man
a wise man is his ability to give
instruction as well as receive it.
My letter to, the Editor sought
to do just that!

Sir Arthur knows that he is a
respected statesman to whom
the public looks in order to give
reasoned arguments and clarity
to issues of national importance.
Certainly that has been my pos-
ture towards him until recently.

Sir Arthur, I would remind
you that you are an opinion
maker and most times a good
one, but in this instance you got
caught with your mental pants
down and with your biased,
uninformed opinion showing.
But rather than see that
informed opinion is what we
were both pursuing you took

-your eye off the ball and spoke
' from your.wounded pride calling

e “amateurish”.
I must confess that I am puz-

zled how an issue of such nation- .

al importance could be so cheap-
ly dismissed by you. In truth, I
thought that you would have
sagely said “Good call,. Pastor
Bethel, I did overstate my case
and you were right to call me on
it. Indeed the Church, nations
and states have been attacked
by the worldwide homosexual
agenda, and they have every
right to respond without being
labeled “homophobic”, *, “intol-
erant” and “bigots” who are
attempting to “manipulate the
apparatus of society.” We could
have enjoyed a hearty laugh, a
slap on the back and moved on
to the next topic.

But no. You preferred to take
a cheap shot to avoid having to

. acknowledge that you cannot

reasonably answer my queries.
You misspoke and it appears as
though it galls you that you were
caught and called on it. But

__ Visit us and see ater used cars
: a make your own deal!








AMP EIeS

letters@tribunemecia.net



rather than deal with the real
issue you prefer to dismiss me
as amateurish, offering foolish
claims and lacking reading com-
prehension skills. To call my

response to you an “attack”:

rather than a rebuke is likewise
an evasive stunt. Weren’t you
just advising some politicians the
other day that they should devel-
op thicker skin?

Sir, you are not dealing with
one of those “wretches” in the
clergy that you express such dis-
dain for. Nor can I be labelled as
one of the “grubbners” looking

‘for a bribe or handout — I don’t

want a taxi plate, a JP title ora
knighthood from the Queen.

If you want to know my
motive for addressing you on this
issue it is this — the Christian, and
in particular the minister, is called
to be Salt and Light to his com-
munity. Salt to stop the spread
of spiritual and moral decay, and
light to expose evil. Therefore I
will not stand idly by and let per-
sons call right wrong and wrong
right. Or let persons suggest that
homosexuality (that God con-
demns as abominable behaviour)
is normal and should be protect-
ed as a right under our constitu-
tion. Or have it taught in our ele-
mentary school system as accept-
able, as is presently happening
in parts of California and New
York with the book “Heather
has Two moms”, and in Massa-
chusetts with the book “King &
King.” Or to be told that speak-
ing out against it is “hate speech”
punishable by a two-year jail
term as is currently the case in
Canada.

You missed a BIG opportu-
nity here Sir Arthur, to show
your quality, and. to help the
average Bahamian get a better
grasp of the intricacies of this
social issue and remove the con-
fusion being created by homo-
sexual advocates who are trying
to equate the homosexual strug-
gle with civil rights issues.

Now if you found my previ-
ous queries impossible to answer
when I took you to task for your
misinformed statement that the
Church was attacking gays as
opposed to the other way
around, then I don't know how
you are going to be able to han-
dle these couple of queries I
have for you.

1) Last month, the San Fran-
cisco Board of Supervisors unan-
imously passed a resolution con-
demning Catholic moral teaching
on homosexuality and urging the
Archbishop of San Francisco and
Catholic Charities of San Fran-
cisco to defy Church directives
prohibiting gay adoption. The
resolution alludes to the Vati-
can as a foreign country med-
dling in the affairs of the city and
describes the beliefs and moral
teachings of the church as

firm dedicated to the defense
and promotion of the religious
freedom of Christians, has filed a
federal lawsuit challenging the
anti-Catholic resolution asa
“startling attack by government
officials on the Catholic Church,
Catholic moral teaching and
beliefs, and those who adhere to
the tenets of the Catholic faith,
in violation of the First and
Fourteenth Amendments to the
United States Constitution.”

“The demagoguery and viru-
lent words of this resolution are
reminiscent of the anti-Catholic
bigotry of the Ku Klux Klan and
the Know Nothings which
marred our nation's earlier his-
tory,” said Richard Thomson,
president of the Thomas’ More
Law Centre. Once again, Sir
Arthur, who is doing the attack-
ing here, and who is defending?

2) In California the Senate
Judiciary Committee approved
SB 1437 which would mandate
that grades one through 12 use
books “accurately” portraying
the “sexual diversity of our soci-
ety.” The bill is designed to pén-
etrateethe academic purpose ,of
schools with sexual, social engi-
neering — targeting children;as
young as kindergarten — by
requiring every aspect of the
public education system in Cali-
fornia to accept, embrace, teach
and promote homosexuality and
other harmful sexual lifestyles,
says Randy Thomasson of the
pro-family Campaign for Chil-
dren and Families.

Said one commentator, “SB
1437 disregards the religious and
moral convictions of parents and
students and will result in reverse
discrimination.” It could poten-
tially require gender- -neutzal

‘bathrooms:in the state’s schoals

and impact everything from
prom kings and queens, cheer-
leading, sports activities and
dress codes, as well as remove
gender-specific terms — such as
“mom,” “dad,” “husband” and

“wife”.

Does Sir Arthur advise that
the Church and all right-minded
people in California should just
sit back and allow this madness
to take place unopposed, all in
the name of “tolerance”? Should
we here in The Bahamas stand
aside and watch the homosexual
advocates and their sympathisers
steam roll their way across the
moral landscape — redefining
marriage, redefining family, and
teaching perversion to our chil-
dren — all because Sir Arthur
Foulkes says that we don’t have
a right to “manipulate the appa-
ratus of the state to force (our)
views on society” but they do?
The Christian worldview does
not need to be forced on this
country it is generally and wide-
ly accepted so the clergy is not
doing the forcing.

‘If it is all right with you, I
think I will be taking my cues
from the Lord who calls us to be
watchmen who are expected to
speak out against evil when it
arises or be held accountable for

“insulting and callous,” “defam- _ the blood of those we did not
atory,” “hateful,” “insulting to | warn (Ezekiel 33:1-7).
all San Franciscans,” “absolute-

ly unacceptable,” and “insensi-
tive and ignorant.”

In response, the Thomas More

Law Centre, a public interest law

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In brief

Crowds
reported for
National
Youth
Month rally

ABOUT 50,000 young
Bahamians — about a fifth of
the New Providence population
— braved the heat to participate
in the annual National Youth
Month Rally and March on
Sunday at Clifford Park, accord-
ing to government figures.

The event — planned by the
Ministry of Youth, Sports and
Housing — was held under the’
theme: “Empowering youth for
the eradication of poverty,
HIV/AIDS and crime.”

Schools and church bands
from throughout the Bahamas
were represented, as were youth
organisations such as the
Pathfinders, the Boys Brigade,
the Girl Scouts and martial arts
clubs.

Minister of Youth, Sports and
Housing Neville Wisdom kicked
off the rally, telling participants
that they were marching with a
purpose in mind. :

“Today we are going to
march to demonstrate solidari-



LOCAL NEWS

‘Convention to raise awareness

THURSDAY, MAY 11, 2006, PAGE:5



‘

on threat of chemical weapons

By RUPERT MISSICK Jr
Chief Reporter

THE Bahamas should not
delude itself: in this age of glob-
alisation, chemical weapons can
threaten anyone, anywhere,
Attorney General Allyson May-
nard-Gibson said yesterday.

Mrs Maynard-Gibson was
speaking at the opening of the

National Work-shop on Ratifi-.

cation of the Chemical Weapons
Convention (CWC).

The workshop is being hosted
by the Ministry of Foreign
Affairs in collaboration with the
Organisation for the Prohibition
of Chemical Weapons (OPCW).

The event, said Mrs Maynard-
Gibson, could not have come at
a more opportune time as the
Bahamas stands on the thresh-
old of ratifying one of the most
important conventions of recent

Grand Bahama conditions
‘may lead people to crime’

times - the Prohibition of the
Development, Production,
Stockpiling and Use of Chemical
Weapons and on their Destruc-
tion.

This treaty is unique as it is
the first multilateral treaty to
ban an entire category of
weapons of mass destruction
(WMD) and to provide for the
international verification of the
destruction of those weapons.

The attorney general said that
the Bahamas signed this. treaty
on March 2, 1994 and by so
doing, declared before the glob-
al community that it would
adhere to the principles of the
convention. —

“It is far too easy to underes-
timate the impact of chemical
weapons here in the Bahamas
either because we are not pro-
ducers of chemical weapons or
simply because we do not per-

ceive them as imminent threat.”

“This work-shop therefore
serves, among other things, to
heighten the awareness of all the
stakeholders in our country and
the general public not only to
the use of.chemicals but more
especially to the deadly use to
which they could be applied,”
Mrs Maynard-Gibson said.

She added that the govern-
ment has given a strong com-
mitment to living up to its inter-
national obligations and will
actively seek to implement the
provisions of the convention in
question.

“I want to assure’you that the
Commonwealth of the Bahamas
fully adopts the Mission State-
ment of the OPCW of the vision
of a world free of chemical
weapons and co-operation in
chemistry for peaceful purpos-
es,” Mrs Maynard-Gibson said.



@ DIRECTOR of Extermal Affairs Division OPCW, Zhixian
Liu, speaks at the opening ceremony of the National OPCW

Workshop on Ratification of the Chemical Weapons i
Convention on Wednesday at the Radisson Hotel i

f

(Photo: BIS/Tim Aylen)

general or the commissioner
of police the power to dismiss
an officer without compensa-
tion if that officer is found
guilty of intemperance, negli-
gence, irregularity, or miscon-
duct.

Additionally, Mr Grant
found portions of the Bill that
give power to the commis-
sioner of police to retire any
officer once he or she has
reached the age of 50 to be
unacceptable.

This same provision, if
passed, would apply to an offi-
cer who turns 45 years old,
provided the commissioner
secures the approval of the
minister of National Security.

Mr Grant said that this pro-
vision is unfair and needs to
be reviewed, as the country's
most productive, citizens fall .
into. thisi age -bracket,: includ:
ing membets.of the House. ¥*11"4

claimed that several contrac-
tors who were engaged by the
government for hurricane
restoration have been instruct- .
ed, without proper justifica-
tion, to discontinue their work.

The Lucaya MP also asked
the government to account for
how funds donated to the Hur-
ricane Relief Fund were spent.

“We have asked over and
repeatedly for the proper
accounting of relief funds, as
well as the government input
and expenditure for hurricanes
Frances and Jeanne.

“Well — Wilma has come
and gone since then, and we
do not have the report. The
contractors want to know
where is the money, how it was
spent, who received it, and for
what,” the MP said.

After his introduction, Mr.
Grant expressed his concern :
over sections of the proposed

ty with truth, with decency and lm By MARK HUMES
with honour,” he said. ee ee

_ Mr Wisdom told the young

participants that they will be the
ones setting the example and
the pace, as they spread the
message National Youth Month

‘throughout the islands of the

‘Bahamas.

_, “We want to demonstrate to
the entire Bahamas that the
youth of the Bahamas are the
‘best young people in the world
+ and in fact, the best Bahami- comments on*the living con-
‘ans,” Mr Wisdom said. : ditions in Grand Bahama to
we ‘the Bill on the floor of the

House.

He responded: “oppressed
people sometimes resort to
desperate measures, and when
they resort to these measures,
that is when the police has to
work.”

Before drawing attention to
sections of the Bill that he

THOSE who are stressed
and depressed are sometimes
forced to resort to desperate
means according to Lucaya
MP Neko Grant — who said
conditions in Grand Bahama
may be contributing to the
increase in crime on the island.

During his contribution to

‘the debate on the Police Ser-
vice Act, Mr Grant was asked
to explain the relevance of his

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a ge

‘y DENISE MAYCOCK
“1ibune Freeport Reporter

EL EPORT ~ The govern-
will not allow foreigners,

, iave been approved to
» land in the Bahamas
bold that land indefinitely

MHURSDAY, MAY 11, 2006

without developing it, accord-
ing to Financial Services and
Investments Minister Vincent
Peet.

Addressing lawyers in
Freeport, Mr Peet said he was
speaking in response to claims
by “some lawyers” that the gov-

ea oe
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ernment does not have the
authority to impose conditions
on foreign investment.

“We are not going io let for-
eigners come and get land in
here and hold it for 10 years
and decide to get another piece
to hold for another 10 years

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with no development,” he said.

According to Mr Peet: “A
part of the policy within the law
states we have the legal author-
ity to do it. We have relevant
authority under Section 36 of
the Interpretation and General
Clauses Act, which provides for
any government agency to
make conditions when issuing
permits and approvals.”

Mr Peet stressed that gov-
ernment has an obligation to
protect land for Bahamians. He
explained that the rationale for
conditions is to cut back on
speculation.

“You are taking out of circu-
lation land that Bahamians and
others could be developing and
create more jobs and opportu-
nity while some people hold it
for 10 years. When prices go to
the roof, then they sell 10 acres



DPM Pratt :

@ By Bahamas Information
Services

DEPUTY Prime Minister
and Minister of National Secu-
rity, Cynthia Pratt said Bahami-
ans must return to the days
when respect for self, each oth-
er, neighbours, community and
country were the order of the
day.

Mrs Pratt said adult Bahami-
ans must lead the way by setting
proper examples in their own
lives for their children and oth-
ers to follow. The Deputy Prime

Minister called on Bahamians ©
to “place special emphasis on -

our children even if they are not
our own” so as to make The
Bahamas a better place.
“That’s what made.us a
unique people because we

instilled in our children respect’

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Ml VINCENT Peet

of prime land,” he said.

The minister said he is also., :

concerned about the copying of



for self, others and communi-
ty,” said the Deputy Prime Min-
ister. “Even if a child did not
know his or her ABCs, that
child knew ‘Good morning,
Good evening, excuse me,

“thank you, please.’ You said

that over and over again.

“It didn’t do anything to
harm us but instead made us a
better nation and a better peo-
ple,” Mrs Pratt added.

Deputy Prime Minister Prat-
t’s comments came during a

tour of the Greater Commis- -

sion Ministries on Wulff Road.
Mrs Pratt said there was a time
in The Bahamas when Bahami-

“ans helped each other without
expecting anything in return.

She said this was a time when
Bahamians were truly their
brother’s keeper.

She added The Bahamas was:



Paradise Island

y



makes call” i
for respect for all ©

“Sunday, May 1 4th, 2005
From 12:00 noon - 3:00 p.m.

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Investment Board in Freeport).

~ sell this country to our visitors,”

“our country.”

THE TRIBUNE






government’s Form Three by
lawyers making application on
behalf of their clients to the
Investment Board.

He said that only the etticial |
government form is acceptable.

“J am told by (staff at the

that the Form Three is being:'
photocopied. We have a lot of
the original Form Three here,
and yet I am told that some of :
the lawyers print their own
Form Three, and when that
happens that is no longer a gov-
ernment form,” he explained.
Mr Peet said that lawyers.”
must submit original forms and
added that failure to do so.
would result in delays.
He noted that no application.
goes to the Investment Board —
or National Economic Council
unless it is completed properly.





é dea

able to cei itself as:a oi : ‘. SVii
leader in regional tourism, ©! gsitt
bringing millions of visitors to 3° ¢aig)

its shores, because of the
“respectful nature” Bahamians
exhibited for self and others.

She said the country’s citizens
must realise that they play a pri- . 1
mary role in the success of the
tourism economy in particular,
and the overall economy in gen-
eral, and that the successes that
have been and will be achieved
will only continue if respect for’ ©}
self, others, community and
‘country is practised on a daily
basis.

“It’s up to us, the people, to

Mrs Pratt said. “People keep
coming back to The Bahamas
because of who we are and how
welcome we make them feel in



§
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3

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Ink mmipyvine

LOCAL NEWS

THURSDAY, MAY 11, 2006, PAGE 7





In brief

Gibson
‘will not be
distracted
from job’

& SHANE Gibson

THE new Minister of Labour
and Immigration Shane Gibson
_ said he will not be distracted
from doing his job — which
includes ridding the country of
illegal immigrants.

Mr Gibson added that those
who live in the Bahamas legally,
“have no reason to be con-
cerned.”

The minister was speaking
while in Freeport at the swear-
ing in ceremony of several new
Bahamian citizens.

Mr Gibson said Immigration
officers have a mandate and are
not “picking on any particular
group of nationals, but simply
doing their job.”

“The vast majority of
Bahamians approve the initia-
tive of the government in tack-
ling the illegal immigrant popu-
lation,” he added.

“We do not pursue illegal
immigrants in the hospitals, we
do not pursue them in the
schools, and we don’t pursue
them in churches.

“If you don’t want us to go
early in the morning, you don’t
want us to go on the job, you
don’t want us to have them in
bus loads during the middle of
the day, when do you want us to
do it?” he asked.

“{ think the message has to
get out there that, if you have
information where illegal immi-
grants are being housed, then
you should bring that informa-
tion to us. The more informa-
tion we get from the public, the
less we have to go out and actu-
ally conduct these types of exer-
cises,” Mr Gibson said.












“VENUS”
BLUE DIAMONDS
SET IN WHITE GOLD

KFC managers threaten to strike

KFC managerial employees
have threatened to strike,
claiming that the company edit-
ed an industrial agreement
without the consent of union
representatives.

The managers met with
Trade Union Congress (TUC)
officials yesterday to discuss
the alleged action by their
employer, Restaurants
Bahamas limited.

According to TUC officer
Herbert Scott, parts of a con-
tract that the union had agreed
upon have been changed and
a new edited version was sub-
mitted for signing.

“The industrial agreement
outlines the terms and condi-
tions of employment and must
be agreed upon by both par-

ties,” Mr Scott said.

He explained that the
Bahamas Hotel Managerial
Association signed an industri-
al agreement with Restaurants
Bahamas Limited in January
2002, which was to take effect
in May 2003.

According to Mr Scott, the
document was then sent to the
Industrial Tribunal for regis-
tration.

He said the tribunal wrote
both parties advising about
changes that had to be made
before the document could be
registered.

Mr Scott claimed another
meeting was then held, where
both parties agreed to the rec-
ommended changes.

“The company then sought

Unemployment on Grand
Bahama remains steady

l§ By DENISE MAYCOCK
Tribune Freeport
Reporter

FREEPORT - More than a
quarter of Grand Bahamians
are unemployed, according to
statistics of the 2005 labour
force survey released by the
Department of Statistics.

According to the figures,
Grand Bahama’s employment
rate has remained steady at 74.7
per cent for the past two years.

The island’s total labour
force — those of 15 years of
age and over, engaged in or
willing and able to be engaged
in the production of goods and
services — was recorded at
27,305 last year.

The annual labour force sur-
vey for 2006 was launched on
Monday with the swearing-in
of 24 enumerators and six
supervisors who will collect
data from, 800 households
throughout Grand Bahama.

The exercise is being con-
ducted in 3,500 households in
New Providence, South
Andros, Abaco and Grand
Bahama.

Clara Lowe, director of sta-
tistics in Freeport, released the
official labour force and
household income report for
2005, which comprises tables

All Designs 50% off - 6



and charts that show labour
force components and charac-
teristics of the employed and
unemployed in the country.

According to the report, 69
per cent of the employed
labour force is engaged by the
private sector and the average
household income fell to
$38,891 in the Bahamas.

» In Grand Bahama, the
unemployment rate increased
to 11 per cent last year, show-
ing an increase from 9.3 per
cent in 2004.

The-reports showed that
there were 24,305 persons
employed and 3,000 persons
unemployed in 2005. -

This year, enumerators will
visit 800 households in desig-
nated areas throughout the
island during the next 15 days.

Grand Bahama Chamber of
Commerce president Dr
Doswell Coakley told enu-
merators that their duty of
gathering information helps
the government in its eco-
nomic and social development.

He said the data they col-
lect is more than just “simply
numbers”.

The Oath of Secrecy binds
all enumerators to keep confi-
dential any information they
receive from households par-
ticipating in the survey.

“CLEOPATRA”
DIAMONDS SET IN
WHITE & ROSE GOLD

6 Days Only!
Come early for

best selection

to make additional changes to
the agreement that were not
agreed on by both parties,” Mr
Scott claimed.

He said the document was
then sent to the.Department of
Labour, without the union hav-
ing an opportunity to examine
it.

Mr Scott said the TUC then ©

received a letter from the
Department of Labour con-
cerning the agreement — and
upon studying the submitted
document, discovered certain
“inconsistencies”.

He said the union then wrote
to Restaurants Bahamas Lim-
ited informing the company of
the differences and indicating
that the TUC would be pre-

pared to sign the agreement

CONGRADULATIONS

when the document was cor-
rected.

The TUC Officer said that
yesterday, the union asked the
Department of Labour to con-
duct a strike vote among the
KFC managers, and was disap-
pointed when department rep-
resentatives showed up with-
out the ballots or a ballot box.

“Tt is the responsibility of the
Department of Labour to con-
duct the ballot. We have to
ensure that the Department of
Labour does its job,” he said.

Representatives from the
Department of Labour refused
to comment to the media on
the matter, and the strike vote
has been postponed until fur-
ther notice.

President of The Trade

to all the riders of the

Lucky Star R



Union Congress (TUC) Obie
Ferguson was not at the meet-
ing and could not be reached
for comment.

The Tribune attempted to
contact Restaurants Bahamas
Limited at 5 pm yesterday, but
the calls were not answered.

INSIGHT
For the stories
behind the news,

read Insight on
_Mondays

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PAGE 8, THURSDAY, MAY 11, 2006

THE TRIBUNE



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Harbour Island split
on cruise ship visit

HARBOUR ISLAND was
split yesterday over the contro-
versial visit by a European
cruise ship this week, with some
residents saying they would like
it to happen again.

“It’s not true to suggest that
everyone on the island was
unhappy about the ship calling
in,” a resident told The Tribune.

“Those passengers had a
good time and some said they
would be flying in for vacations
in the future. It was good for
business here.”

Nearly 200 German and Swiss
passengers disembarked from
the Hanseatic when she
anchored offshore on Tuesday.
The vessel made an unsched-
uled stop while en route from
Grand Turk to Fort Laud-
erdale.

Local business people com-
plained, saying cruise ships were
not part of Harbour Island’s

‘ promotional profile.

It was alleged that the pas-
sengers used beach and toilet
facilities at luxury hotels on the
island and would “leave nothing
behind but their trash.”

However, one resident said



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the elderly and middle-aged
passengers did bring revenue to
the island. They used some local
services and, more important-
ly, said they would return in
future.

“They were really impressed
by the island’s beauty and some
were even on the phone to rela-
tives in Europe saying how won-
derful it was,” said the source.

Yesterday, The Tribune
reported that island residents
were “in uproar” over the visit,
which the Ministry of Tourism
admitted was unexpected.

Restaurant owner Julie Light-
bourn was among those who
complained about the ship’s
brief stopover.

‘“‘We are just incredulous - it’s
like an invasion,” she said, “I
don’t think this is the right
direction for Harboyr Island to
be taking.”

Local tourism official Prescott
Young was said to have been
deluged by complaints.

Tourism Director General
Vernice Walkine admitted the
ministry was as surprised by the
visit as the local population, say-
ing she believed it was organ:












@ THE Hanseatic

ised by the cruise company and
local government officials. -
Yesterday, however, some
islanders spoke out in favour of
such “spontaneous” visits, say-
ing they were short-term and
did not affect the island’s image.
“The people aboard that ship
were wealthy people,” said one
resident, “I-understand theré
were 188 pean aboard and
119 crew. |
“These are the kind’ of people
who will probably want'to.come
to Harbour Island i in, the, future
for a long vacation” "8. 8
One businessman he criti-
cised the: ship’s 's call said upscale
tourists paying, a premium for
peace and’ quiet did not want to
find themselves in a cruise‘résort.
Guests at one of the island’s
luxury.hotels,.were.uphappy
when the Hanseatic dropped
anchor. They demanded an
explanation from management,
saying cruise ships were not
mentioned in promotional lit-
erature.



Holiday for
victims of
slave trade
a non-event
m PARIS 3



FRANCE for the first time
Wednesday honored the vic-
tims of its slave trade, 158 years

after it stopped the practice of
taking people from their
African homelands and enslav-
ing them in Caribbean colonies,
according to Associated Press..

The day of memory was
timed to coincide with.a May
10, 2001, law that declared
slavery a crime against human-
ity. French President Jacques
Chirac said the law — the
world’s first — “blazed the

: . trail for other nations.”»~ -;

Cities throughout France
scheduled ‘ceremonies, read-

‘ings, concerts and other events:

In the French Caribbean,

: the day was a non-event.‘

In ‘ Cayenne, § French

: Guiana’s capital, the only

activities marking the day were

: an exhibition of pictures of

slaves in a local museum and’a
conference about slavery.
Guadeloupe, Martinique

and French Guiana have for

years had their own holidays
to mark the end of slavery.
- ‘Antoine Karam, the region-
al council president, criticised
how the day would be marked
separately and said he would
like to engage in talks with
France about social healing.
France abolished slavery i in
1848. .

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THE TRIBUNE



Peme Minister Perry
' Christie, who is also Min-
ister of Finance, said something
quite curious during his recent
one-night mini-convention
address.

He said that one of his admin-
istration’s significant achieve-
ments was to “return” fiscal dis-
cipline to government.

In order to “return” fiscal dis-
cipline to government it had to
have left in the first place. In oth-
er words, the Ingraham admin-
istration had to be fiscally undis-

ciplined during its years in office,

particularly those just prior to Mr
Christie taking over. Was this the
case?

To answer that question, we
need to ask another one, that
being, how do we measure “fiscal
discipline” at all? We can do so
broadly by examining move-
ments in the government’s deficit
from year to year, the growth
rate of the national debt and
trends in the national debt as a
percentage of Gross Domestic
Product (GDP), all of which are
related to each other.

If, as Prime Minister Christie
suggested, there was no fiscal dis-
cipline before he came to office,
these three indicators would be

_ worse off before he took office

than they were since he took
office. Let’s look at them and see
what we observe.

THE DEFICIT

bt he deficit measures how

much the government
‘spends in relation to the revenue
it takes in. In the four years

before Mr Christie came to
‘office, for the most part, the total

government deficit decreased sig- .

nificantly from year to year.

t In 1996/1997 the deficit was
'$217 million and decreased the
following year to $144 million, a
‘decrease of some 34 per cent.
‘The next fiscal year the deficit
idecreased to $139 million, a
idecrease of some four per cent.
In the following fiscal year,
1999/2000, the total deficit
‘decreased further to an astound-
‘ing low level of $56 million, a
idecrease of some 60 per cent.

» The last time The Bahamas
icame close to a deficit so low was
‘almost 15 years prior when in

+1987 the total deficit, in a much



smaller economy one should add,
was $75 million.

In 2000/2001, the deficit
increased significantly by some
59 per cent to $89 million but
much less than it was the two
years earlier. In 2001/2002, the
last fiscal period before Mr
Christie became prime minister,
the deficit increased to a much
higher level of $249 million, an
increase of some 180 per cent.
This increase was extraordinary
in relation to the exceptionally
low deficit the year before but
was only 16 per cent above the



If fiscal
discipline had
been lost
prior to PM

‘Christie’s

ascent to
office, it has
not been
restored since

he came to

office.



level in 1996/1997.
The exceptional increase in the
deficit in the year 2001/2002 had
several causes. One of those was
the onset of a recession in the
US in January, 2001, that began
exacting a toll on the economic
growth of The Bahamas.
Economic growth in The

‘Bahamas in 2001 decreased from

almost two per cent the year
before and four per cent the year
before that to below one per
cent.

In September, 2001, we all
know that the dreadful terrorist
attacks occurred in the USA, fur-
ther jolting the US economy and
further negatively affecting the
Bahamian economy.

The government found it nec-
essary to make significant extra-
budgetary expenditure in

-response:to the effects of 9/11.

Add to these occurrences the Bay
Street straw market fire and Hur-

Accompanied by






aA

STRAIGHT UP ‘TALK

rai

ricane Michelle and one can well
explain much of the fiscal oddity
of 2001.

(): course, one should
not dismiss the fact that

2001/2002 was an election period
and no doubt the fiscal deficit
was boosted because of it. With
the exception of this one year, in
the four years prior to Mr
Christie becoming prime minister
and Minister of Finance, the fiscal
affairs of the nation were kept
much in check.

What has happened to the gov-
ernment’s deficit since Mr
Christie assumed office? In each
of the fiscal periods the deficit
has remained above $200 million,
never returning to any level
below $100 million as had been
seen in the four years prior to
2002.

In 2003/2004, the deficit
increased from $244 million to
$248 million, an increase of 1.6
per cent. In 2004/2005, the
deficit’s projected out turn was
a decrease from $248 million to

- $239 million, a projected shrink-

age of about 3.6 per cent. In the
current fiscal year the deficit is
projected to decrease further but
again to remain above $200 mil-
lion at $222 million.

When one looks at the GFS
deficit, which is only the total
deficit less what the government
spends on debt redemption or to

-pay off the principal balance of its

loans, one discovers that in the
four years prior to Mr Christie
assuming office, the GFS deficit
was impressively near or below
one per cent in most of those
years. It reached 3.1 per cent only
in the economically depressed
year of 2001.

From the time PM Christie

_ came to office, his administration

has not achieved yet any level of

‘GFS deficit close to one per cent.

Indeed, for the entire time he has
been Minister of Finance, the
GFS deficit has remained near
three per cent.

Additionally, in none of its
years in office so far has‘Mr
Christie’s government been able



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VARGO

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to achieve a single period of sur-
plus on the recurrent account as
was achieved in two periods by
the former administration in
1999/2000 and 2000/2001.

If fiscal discipline had been lost
prior to Mr Christie coming to
office, it certainly was not
restored since then, not if one
looks at the performance of the
deficit either in absolute terms
or in terms of GFS figures.

THE NATIONAL DEBT

he national debt is what
all of us owe to some of |

us because the government
spends more than it earns and
has to borrow to make up the
short-fall.

If the government is incurring
a deficit every year, then it is
almost certainly increasing the
national debt every year. In the
four years prior to PM Christie
coming to office, the national
debt grew from $1.78 billion in
1998 to $2.2 billion in 2002, an
increase of some $420 million or
24 per cent.

Since Mr Christie took office in
2002, the national debt has
increased from $2.2 billion to $2.8
billion, an increase of about $600
million or 24 per cent.

Certainly, in looking at the
growth rate of the national debt,

_if fiscal discipline had been lost

prior to PM Christie’s ascent to
office, it has not been restored
since he came to office, if one
looks at the national debt fig-
ures.

This, however, is not surprising
since, as we pointed out earlier,
the GFS deficit has not per-
formed better under Mr
Christie’s administration than
under the previous administra-
tion’s last four years.

THE NATIONAL DEBT AS
A PERCENTAGE OF GDP

I: is useful to examine the
national debt in relation to

the GDP of the country, since.

GDP represents the national

THURSDAY, MAY 11, 2006, PAGE 9

income from which the country
has to service the national debt.

When we look at this number
over the four years before Mr
Christie came to office, we see
that the rate went down every
year from 1997 to 2001, moving

_ from 44 per cent to 38 per cent. It

increased again to 41 per cent in
2002 but remained below the lev-
el established in 1997.

Since Mr Christie took office,
this rate has remained around 44
per cent, never dipping below 40
per cent as had been achieved in
the four years prior to his coming
to office.

Once again, if fiscal discipline



It has been
somewhat
surprising
that a better
fiscal perfor-
mance has not
been achieved,
given the
favourable
global and
regional
economic

situations
inherited.



had been lost, nothing in the debt
to GDP ratio reveals that it had
been restored since PM Christie
came to office.

THERE WAS NO FISCAL
INDISCIPLINE TO
RESTORE

[vs reality is that fiscal
discipline was well-
established and maintained under
the Ingraham administration.
This was substantiated both by
the relevant economic indicators
examined earlier as well as by
reviews conducted by the Inter-
national Monetary Fund (IMF).

In its last Article [V review of
the Bahamian economy, the IMF
noted the following: “The main
challenge for The Bahamas is to
build on the commendable policy
efforts made under the present,
administration to sustain a
favourable environment for
investment and growth and fur:
ther reduce unemployment (esti-
mated at below seven per cent).

Therefore, the discussions with
the authorities focused on poli-
cies aimed at maintaining a pru-
dent fiscal stance, strengthening
credit policy, and enhancing com-
petitiveness, including through
the implementation of structural
reform.” é

This was published in July.
2001, that terrible economic year;
and notice that the IMF said that
discussions were centred around
“maintaining a prudent fiscal
stance”. 4

One does not maintain whab
one has lost. Add to this endorse
ment Moody’s. excellent sover:
eign debt rating at the time and
inherited by Prime Ministet
Christie. 5

PM Christie inherited a sound
fiscal situation, one which could
no doubt be improved upon but
which was sound nonetheless. It
has been somewhat surprising
that a better fiscal performan¢e
has not been achieved by: thé
Christie administration since
coming to office; given the
favourable global and regional
economic situations inherited.

The country should have been

. able to achieve over the last four

years lower total deficits, reduced
GES deficits as well as lower lev-
els of debt to GDP. It did not
and that is the failing.

THE PRESSURES OF THE
ELECTION SEASON

‘ he pressures of election
season will prompt many
claims. If we will entertain legit-
imate debate, it had better be-on
the facts. In any event, there are
those of us who will observe with
a view to adding our three cents
to an honest national dialogue of
the issues. —

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PAGE 12, THURSDAY, MAY 11, 2006

IMPORTANT NOTICE TO ALL POLICYHOLDERS AND
CREDITORS OF THE BAHAMIAN BRANCH OF INDEPENDENT
INSURANCE COMPANY LIMITED (IN PROVISIONAL
LIQUIDATION)

The Joint Provisional Liquidators (“JPLs”) of Independent Insurance Company
Limited (in Provisional Liquidation) (“independent”), Mr Dan Schwarzmann and
Mr Mark Batten of PricewaterhouseCoopers LLP of Plumtree Court, London are
pleased to announce that the run-off of claims against independent’s Bahamian
brarich (“independent Bahamas”) is nearing completion. They are proposing to
make a final dividend payment in June 2006 to all Bahamian creditors whose
claims against independent Bahamas have been agreed. In order to qualify for a
final dividend payment in June 2006 your claim against Independent Bahamas
must be agreed by 31 May 2006.

Policyholders whose claims have already been agreed

If you have already agreed your claim against Independent Bahamas then you
will shortly be receiving a letter detailing the settlement conditions of your claim.
You must sign and return the letter to Orry J Sands & Co. Ltd (at the address
detailed below) before 31 May 2006 in order to qualify for the final dividend
payment in June 2006.

If you believe that you have an agreed claim against Independent Bahamas and
you do not receive such a letter by 12 May 2006 please contact Orry J. Sands &
Co. Ltd at the address below.

Policy holders with unagreed claims

For those claimants who have not yet agreed their claim with Independent Bahamas,

please note that you must have agreed your claim and have signed a returned a
letter detailing the settlement conditions of your claim before 31 May 2006 if you
want to receive a final dividend payment in June 2006. Therefore please contact
Orry J. Sands & Co. Ltd. with your claim details as soon as possible.

Creditors who are not policy holders —

If you are a creditor of Independent by virtue of a claim against an Independent
policyholder, or through the provision of some service covered by the policy, for
example, legal expenses or garage repairs, you will receive a letter detailing the
settlement conditions of your claim which you will be asked to sign and return.
Your participation in this process is in the interests of all parties concerned,
especially yours.

_ Quantum and timing of the dividend payment

The JPLs can confirm that, based on the information available at this time and
their understanding of the level of claims of Bahamian creditors, the quantum of
any dividend payment, whether paid in June 2006 or at a later date (for claimants
whose claims are agreed after 31 May 2006) is likely be 100%.

Contact Details:

Orry J. Sands and Co, Ltd
P.O. Box N-3827
Nassau, Bahamas

Tel: 242 393 4300
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THE TRIBUNE

LOCAL NEWS

Nassau born doctor dies aged 61°

DR ROGER Vaughan Sher-
man Sr, son of the late John
Alfred Sherman Sr and Effie
LaFleur Sherman passed away
at his residence in Kincheloe,
Michigan on Thursday, 13
April 2006.

Dr Sherman and his wife Dr
Vivica Fitzpatrick-Sherman,
maintained residences in Wash-
ington DC and in Kincheloe,
where she is a pediatrician to
the Sault Tribe of Chippewa
Indians.

Dr Fitzpatrick-Sherman is
herself of the Cherokee Tribe
of Native American Indians.







United States. uf
In 2005, Dr Sherman retired
from the Community Action |:
Group Clinic in Washington;

DC due to illness.

Dr Sherman was laid to rest 4
in a traditional Native Ameri-
can Ceremony lasting four
days, and in a Christian
Catholic burial.

The Native American Indi-
an ceremony, performed by the
Sault Tribe of Chippewa Indi-
ans, consisted of a four-day
Burning of the Sacred Fire, tra-
ditional drumming, singing and
reflection, and a Feast for the

Born in Nassau on 24 Feb- HDR ROGER VAUGHAN Dead on the third day of the

ruary, 1945, Dr Sherman
attended St John’s College and
the Government High School. He was a grad-
uate of Lincoln University.and the University
of Delaware and a member of Alpha Phi Alpha
Fraternity.

Dr Sherman gave a lifetime of dedicated ser-
vice in the area of mental health and drug
abuse prevention and rehabilitation, heading
numerous projects and programmes in the
Washington DC area over a 30-year period.

A much sought after specialist and expert, he
was lecturer and speaker at conferences,
seminars and workshops throughout the

SHERMAN SR vigil.

An important part of the
feast was to invite everyone to share their most
special memory of the dead. This reflection
on the life of Dr Sherman was led by his son.
Roger Jr.

The Christian Catholic Mass was said by
Father John Haskell, himself a member of the

- Sault Tribe of Chippewa Indians.

The mass was said in the native language of
the Chippewa Indians and in English. Inter-
ment followed in the Garden of St Luke, Oak-
lawn ‘Memorial Cemetary, Sault Ste Marie,
Michigan.

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THURSDAY, MAY 11, 2006, PAGE 13

THE TRIBUNE







FROM page one
the inmates who escaped in |
the early morning prison
break, photographs appeared
on the Internet showing
inmates lying in pools of blood
— allegedly beaten by prison
officers.

When asked about the alle-
gation of continued abuse
against the inmates involved
in the escape attempt, Dr
Rahming said: “We have a

Sandy Mackey [J§ Embassy official: Cuba ‘not ideal
declines to ao :
answer ifhe Member of Human Rig ls Council

e
shot inmate U 8 oficals stated that they Raped ‘Ear countries

FROM with “questionable human rights records” —
page one

in Coroner's inquest
‘still working or
are on vacation’

That is our position,” he said.

When asked about the pos-
sibility of improving wages at
the prison to deter possible
bribery and corruption, Dr
Rahming said that such mat-

FROM page one

“Cuba is one of those countries which we
have always maiiitained does not have a credible

Officers mentioned

such as Cuba — would receive no votes.
In. the meantime, Cuba says that the US is
charge of the PO’s office, which
was.at the front of the maxi-
mum security section of the
prison.

He stated that he was also
responsible for assigning offi-
cers to the maximum security
block.

Officer Major told the court
that_he left the prison at 4am
on January 17 because he had
both a bank appointment and a
medical appointment early the
next morning.

Major said that he left Sgt
Steven Sands in charge of the
PO’s office.

Coroner Virgill pointed out
to him that removing officer
Sands from where he was sta-
tioned at the western wing of
maximum security section —
which was a high security area

~ depleted the area of man-
power.

Major stated that he did this
because he felt more comfort-
able with officer Sands, noting
that he was of the same rank as
himself.

The witness said that officers
Bowles and Johnson were
assigned with Sgt Sands.

He.also noted that between
10, 30pm and 10.45pm, officer
Johnson went to the lounge
area because he said that he
was feeling sick.

Khat left officers Bowles,
Sweeting and Armbrister on
duty ai the maximum security
settion that night, he said.

‘Major said that he had a
balk appointment at the Cable

ch branch of Common-
we alth Bank at 8.30am on Jan-

uaty 17.

“He said that he was also suf-
feting from a medical condi-

"th ida: and had a doctors appoint-

, ment that day.

./ Whe officer said he left work
edly because he was told to
getisome rest before the visit.
Officer Major said that he

d been given permission to
ica e.work by-principal officer
Gregory Rolle.
e noted that he was work-
ing the 10pm to 6am shift,
beginning the night before the
breakout. .

Major said he did not keep
his appointments because as
soon as he. got home, he





received a call informing him of ©

the prison break.

Officer Major stated that he
returned to the prison at 4.20
am.

Chief officer David Forbes
told the court that he arrived at
the prison at 5.30am that day.

Chief Forbes said he recalled.

seeing inmates Barry Parcoi
and Forrester Bowe at the gate
lodge of maximum security sec-
tion that morning. Mr Forbes
told the court that he did not

human rights record and does not allow freedom
of movement, freedom of speech or freedom
of the press. hey don't have democratic elec-
tions, all of the basic human rights that are in the
universal Declaration of Human Rights and it
does not seem that Cuba adheres to that stan-

dard and that is the standard that. we believe:

countries on the council should have,” he said.

However, Dr Hardt said that the US ts
pleased that the new council has elected a major-
ity of countries with credible human rights

~ records.

“We hope the new council will be able to
address seriously the issues of human rights
around the world. We have supported coun-
tries with strong records of human rights and we
hope that other countries will continue: to do
likewise ~ he said.

The US and Cuba had both expressed the
hope that the Bahamas would support their

hardly in a position to pass judgment on other .

countries.

As the voling process was carried out by
secret ballot, it is not known for certain in whose
favour the Bahamas voted at yesterday’s meet-
ing in New York. Reportedly UN officials have
asked member countries not to reveal how they
voted.

The US did not put itself forward as a candi-
date in what is the first election of the council,
but indicated that it would do so in the future,

. depending on how effectively and credibly the

new council goes about its work.

“if it does demonstrate that it is a serious
body and is really looking into human rights
abuses wherever they occur even among the
states that are elected to the Council, because, I
understand that states elected to the council
can be reviewed on their human rights records as
well,” Mr Hardt said.



Senator wants Roberts connection clarified

.FROM page one

Holdings, formerly in the name
of Bradley B Roberts, are now
held in the name of ‘IHamad
Trust’,” a question Mr Bethel
has added to the Senate’s agen-

property

He has also asked Minister
Bethel if the word ‘Illamad’ is
‘Damalli’ spelt backwards and
if ‘Damalli’ is the name
of Minister Robert's resi-
dence.

“Will the government con-
firm or deny that (Minister)
Roberts is a beneficiary, if not
the sole beneficiary, of the
said Illamad Trust?” Mr
Bethel asked.

The FNM senator is also
questioning if the Ministry of
Works “at any time after May
2, 2002 cancelled existing
work orders to pave roadways
in a residential area on the
southern side of the Charles
Saunders Highway in an area
west of the Seabreeze subdt-
vision and east of the
Sir Lynden Pindling subdivi-
sion.”

Mr Bethel is asking if this
land is claimed by Arawak
Homes io be the company, s

“If the ministry did cancel
the road paving work order,
why did the ministry do so? If
not, why have the roads in the
da. residential area as described
not yet been paved by the



Ministry of Public Works?”
the senator wanted to know.
The FNM senator asked of
government to confirm or
deny that the economic inter-
ests of Arawak Homes and/or
Minister Roberts, in any way
affected the failure.on part of
the Ministry of Works “in
paving said roadways.”

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very definite stand against
brutality towards inmates.
There is no compromise as far
as that is concerned. Whenev- '
er we have a case where that is
the case, immediate and swift
action is taken to deal with it.
“As a matter of fact, we
have an incident where six
months ago, an inmate was
beaten. That staff member has
been referred to the police.

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ters were beyond his authori-

He said that wages and the
like would be a ministerial
item that is beyond him. He
added, however, that he has ©
advised that prison officers’
salaries be on par with their
counterparts in the other
branches of the armed ser- '



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issue or receive any weapons
that night.

Greg Bowe, the brother of
inmate Forrester, said that his
brother, in the presence of ASP
Ferguson and officer Forbes,
claimed that officer Forbes had
ordered the guards to brutalise





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‘Forbes denied this claim. He

said that Forrester Bowe never
said such a thing and added
that he had no authority to
order the guards to brutalise
any inmate.

When questioned by the
coroner, officer Forbes denied
that he received any weapon
from ASP Farrington. He also
denied giving a weapon to
police, although he stated that
he would have been the one in
charge of the armory that
morning.

Principal officer Gregory
Rolle was also called to the wit-
ness stand.

He was questioned by Coro-
ner Virgill as to where he had
procured the weapon that he’
gave officer Neko Sargent.

Mr Rolle said that the gun, a
.38 revolver, came from a safe
in the PO’s office.

There were three such
firearms in the safe and these
were used for emergency pur-
poses, he said.

“Officer Rolle said that he
never fired the weapon but
gave it to officer Sargent with
six live rounds.

Officer Neko Sargent, who
was also recalled yesterday, tes-
tified that on the night of Jan-
uary 16, he received a .38
revolver from inspector Gre-
gory Rolle with six live rounds
of ammunition, but never fired
the weapon.

He also directed the jury to
an area of Yamacraw Road
where he recalled stumbling
over someone while chasing
the escaped inmates.

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SOS tore re ree ee
PAGE 14, THURSDAY, MAY 11, 2006



YESTERDAY, one day after
the Bahamas reportedly voted
for Cuba to sit on the new
Human Rights Council,
bereaved families remembered
the tragic events of exactly 26
years ago, when four Bahamian
Defence Force marines were
killed by Cuban fighters just
south of Ragged Island.

@ By TRIBUNE STAFF
WRITER

THEY were all in their early
manhood, fresh-faced recruits
who went to sea to serve their
country. Three of them were
not long past their 21st birth-
days. The other was 23.




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But in the early evening of
Saturday, May 10, 1980 - 26
years ago yesterday - their lives
were cut short when Cuban
MiG fighters dived from the sky
and strafed their ship with bul-
lets and rockets. All four died as
they tried to swim away from
their stricken ship.

During a few minutes of mad-
ness and mayhem, Fenrick Stur-
rup, Austin Smith, David Tuck-
er and Edward Williams were
killed - victims of the worst inci-
dent the Bahamas Defence
Force has known in its short his-
tory.

. For those who recall that fate-
ful evening, it seems ironic that
the Bahamas should now be

8898895999999 90 9 yoo DD

itll





It’s time to

SAG Nggnggggggggnggngygggggygyggoggggygygogg Tg a ae TT a a a a a OTN

Recalling the dead of

casting its UN vote in Cuba’s
favour - especially as the Castro
regime in Havana has one of
the worst human rights records
in the western world.

“I remember how strong the
anti-Cuba feeling was in Nas-
sau,” a source said yesterday,
“The country was in shock and
fee lings against the Castro
regime were very powerful.”

He added: “It really surprises
me that the Bahamas should
have forgiven the Cubans so
quickly. But I have not forgiven
them.” .-

The HMBS Flamingo was
sailing off Cay Santo Domingo,
30 miles south of the Ragged
Island chain, and well within
Bahamian territorial waters,
when it encountered two Cuban
fishing vessels.

Suspecting poachers, the
Flamingo moved in to appre-
hend the boats. But, while
escorting them into port, the
Bahamian patrol was attacked
by MiG fighters firing air-to-
surface rockets.

The attack, which came with-
out warning, continued in sev-
eral waves even. after the
Flamingo was abandoned and
left to its fate.

As the Flamingo began burn-
ing and sinking, and its crew
tried to swim to safety, the
Cuban jets strafed the water
with machine-gun fire. All this
happened around 6.45pm - but

marines are shown seated front row-uiider the Clifford Park

the Cubans were far from fin-
ished.

The following morning, the
jets were back again, flying low
over Duncan Town in Ragged
Island.

Terror

Terrified islanders fled for
their lives as the aircraft
screamed over them at little
more than tree-top height in
simulated rocket runs.

“This was a deliberate act of °

terror against innocent
islanders,” a-Bahamian ex-
politician told The Tribune.

Immediately, the Bahamas
government condemned the
“iNegal and unprovoked
attack”, demanding réparation
and an apology for the loss of
lives and the $4.5 million ship.

It also reported the “vicious
and unprovoked attack” to the
UN Security Council, alleging
a breach of international law
and the United Nations char-
ter. ;

Meanwhile, Havana sent a
seven-man delegation - includ-
ing Fidel Castro’s brother, Raul
- to Nassau for urgent talks with
the Pindling government.

Diplomatic repercussions
began to reverberate around
the world. Both Britain and the
United States werg consulted.
The State Department in Wash-



pavilion with the 15 survivors of the ill-fated HMBS Flamingo.

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ington said initial reports indi-
cated that Cuba was in “gross
violation” of international law.
Britain lashed Cuba for “acting
irresponsibly” and asked for full
reports.

Businessman Rudolph Smith,
father of one of the victims, was
shattered when he heard his son
was missing. “The Cubans have
declared war on us without a
cause,” he said.

The incident, though essen-
tially tragic, had its farcical ele-
ments, too.

Cuba claimed the Flamingo

had been flying a red “Jolly ©

Roger” flag, signifying its sta-
tus as a pirate ship.

Prime Minister Lynden Pin-
dling dismissed this excuse as
unacceptable, adding: “I can
see no reason why they could

THE TRIBUNE



Hi ONE of the two items
saved from the ill-fated
HMBS Flamingo during the
May 10 sinking.





Captain of
Flamingo looks
back on horror

of attack

AMOS ROLLE, who was
the Flamingo’s captain on the
evening of the Cubans’ attack,
last night recalled the horror
of seeing his young marines
under fire.

“It was a very. traumatic
experience,” he told The Tri-
bune. “They got off the ship
into mushroom-coloured
inflatables. But the jets used
them as target practice.”

The bodies of the four vic-
tims were never found.

Mr Rolle, who retired from
the Defence Force five. years
after the incident and now
works in Exuma, recalled how
the Cuban jets first overflew
the Flamingo before return-
ing to attack.

“All our lives were in dan-



ger,” he said, “I heard an:

explosion under the boat.
Then came another salvo of %
rockets. z

“We were sinking fast and U i

had no option but to order: |:

the crew to abandon ship.:.
“They were in the water try
ing to swim to safety. It al
happened so fast. When th
jets left we searched for th
missing men for almost a
hour.”

Mr Rolle said it still sad
dened him to think of the fout
men who died. “I consider i
to have been an occupational*
hazard because the Cuban
had overflown us before,” he
said. But the rocket attack
had come as a.complete su
prise.



















~ THE TRIBUNE

Crew

have mistaken two ensigns and
a Bahamian flag as a Jolly
Roger. :

“The attack took place on a
well-marked identifiable patrol
craft which was in Bahamian
territorial waters.

“What made the attack even
more dastardly is that even after
our gunboat was set afire by a
rocket the crew who abandoned
ship were cut down my
machine-gun fire in the water.”

He said it was a “flagrant
abuse” of Bahamian territory
and “an act of aggression which
could not have been a mis-
take.”

Havana lamented the loss of
the Flamingo, but said the area
around Cay Santo Domingo
had been used for anti-Castro
activities in the past. It stuck to
its story that the jet pilots
thought the Bahamian vessel
was a pirate boat.

In December, 1980, The Tri-
bune reported that Cuba had
agreed to pay $5.4 million in
compensation for the loss of the
Flamingo and four crewmen,
with $100,000 going to each of
the bereaved families.

External Affairs Minister
Paul Adderley said the matter
was ultimately resolved because
of the international communi-
ty’s “overwhelming support” for
the Bahamas.

LOCAL NEWS


PAGE 16, THURSDAY, MAY 11, 2006

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THURSDAY, MAY 11, 2006

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$500m.
plan for Nor

Last remaining |
obstacle is
four-year wait
for government
to revise Aman
Resorts’ Heads
of Agreement



@ By ROBERT CARRON

NORMAN’S CAY, Exuma,
is the potential location for a
$500 million ultra-luxury Aman
Resort, residential community
and marina that will be built
over a seven-year period: The
only obstacle to the project
going ahead is the four-year
wait for the Government to
revise the Heads of Agreement.

In.an exclusive interview with
The Tribune, Adrian Zecha,
chairman of Aman Resorts, the
world-renowned, ultra-luxury
Asian hotel chain, expressed his
excitement about the Bahamas
and his hope to complete nego-
tiations with the Government.

_ “As with all Aman Resorts,
we succeed in creating’a véry
exclusive high-end resort,” Mr

Zecha said.

“Our resorts create enor-
mous pleasure for our visitors,
who are tourists to your coun-
try, as well as create a sense of



@ By CARA BRENNEN
Tribune Siaff Reporter

LEGISLATION for the
proposed National Health
Insurance (NHI) plan should
be ready for bringing to Par-
liament before year-end, the
minister responsible saying
yesterday he hoped this would
alleviate concerns raised by
local businessmen that this

‘deadline was for implement-
ing the scheme.

Speaking with The Tribune,
Dr Bernard Nottage, minister
of health and national insur- |
ance, said his ministry has
been in constant contact with
relevant NHI stakeholders for
some time, and has reviewed
the suggestions and concerns
they raised.

In addition, he said the min-
istry had identified consultants
to review the financial aspects
of NHI, and examine the sus-
tainability of the proposals
made to this point. A second
round of consultations is soon
to take place.

“What we hope to have in
place by December 31 of this
year is, having gone through
the second set of consulta-
tions, the legislation that is
required for the implementa-
tion of the plan. My objective
is to have that passed through
the parliamentary system by
December 31,” said Dr Not-
tage.

Optimistic

He added that he was opti-
mistic that the plan’s main ele-
ments, such as contribution
levels and coverage, were sub-
stantially settled by year-end
206.

“Then it will be the Gov-
ernment’s call as to when it
would wish to implement it,”
Dr Nottage said.



e

high-end resort
man’s Cay





& AN ARTIST’S rendering of the planned Amancaya, Norman’s Cay

pride among Bahamians.”
He added: “In 1998, I was
invited to come to the Bahamas

by the former director-general .

of tourism, Vincent Vander-
pooi-Wallace, and Greg Cleare

_ when, they were on a tourism

visit to Asia.

“T arrived in the Bahamas
eight years ago to look at the
island.”

“Norman’s Cay was love at
first sight,’ Mr Zecha smiled.
“The island has such a unique

\

He acknowledged that there
are still a number of concerns
and questions that need to be
addressed.

Dr Nottage added that
based on the consultations his
ministry has had, the Bahami-
an business community had
indicated it agreed that health-
care access needed to be
improved, although it might
disagree about issues such as
the contribution rate.

Picture

Dr Nottage said: “! think
that if.people look at the big-

ger picture, that is the thou- _

sands of people in our com-
munity who are unwell and
cannot afford healthcare, or
the medication that they can-

not afford to buy, or who need -

operative procedures, I
believe that for the business
sector, productivity is going
to be significantly improved
if people’s time off from work
can be reduced because they
have access to care early on
in the time that they need it,
so that something does not.
develop in a severe condition.

“It is a win-win situation for
employers even though they
will be required to make a rel-
atively small contribution. Ii
appears that 5 per cent of
income of what we now have.
at a ceiling of $5000 a month,
will not be particularly bur-
densome, and many compa-
nies today try to provide some
form of health insurance
scheme for their workers.
Some are non-contributory,
but most of them, they pay a
portion.” ~

NHI will be cheaper than
what companies pay for pri-
vate insurance for their
employees, Dr Nottage said,
but those details can. be
worked out.

‘shape, gorgeous beaches, con-
tours and, most important, is .

that it is undeveloped.

. “My partner, Jonathan
Breene, and I signed a Heads
of Agreement in 2002 with the
former government under

Hubert Ingraham with the plans ““

that are here on paper,” said
Mr Zecha.
“Mr Breene - the developer
of the Setai hotel and residential
project in South Beach (Mia-
mi) - and I got together to do

Tourist arrivals down 5% in early 2006

@ By CARA BRENNEN
Tribune Staff Reporter

AS of February this year, total tourist arrivals
to the Bahamas were down by 5 per cent com-

this project. That project took
the South Beach market to new
heights in terms of luxury, price
and location. It was a very suc-

cessful and happy venture for -

us both. Bae
“Since that time, some four

‘years later, we have been wait-*

ing to finalise outstanding issues
(in the Bahamas) so that we can

begin construction,” Mr Zecha

said.
Separately, informed sources

have told The Tribune that the

Aman Resort project has been

held up because Prime Minis-
ter Perry Christie’s government

“wanted to amend the Heads of

Agreement drafted under the
Ingraham administration, in the
belief that the developers and a

~ Bahamian’ group. associated

with them were getting “too
sweet a deal”.

» The resort’s centrepiece is
planned for the former land and

SEE page 2B

pared to the same period in 2005, despite increas-

es in air arrivals to Nassau/ Paradise Island and a _

SEE page 4B

BIC talks
‘waiting’ on —
government
negotiators

B@ By NEIL HARTNELL
Tribune Business
Editor



THE first bidder for the
| Bahamas Telecommunica-
tions Company (BTC) has
completed its due diligence
and is now “waiting” for the
‘Government to formally
appoint its negotiating team
so talks can begin on the
state-owned firm’s privati- |
sation.

James Smith, minister of
state for finance, told The
Tribune yesterday that Blue-
water Communications
Holdings had “pretty much
completed” its due diligence
on BTC after being given a
two-week extension to early
May to finish this exercise.

He added that Bluewater
was expected to “formally
submit” its opening offer for
BTC once talks began, and
acknowledged that the

Mr Smith said: “We are at
the stage now where we are
finalising our negotiating.
team, and will be sitting with
them [Bluewater] to start
negotiations in earnest. That

should be happening any
time now.”

He explained that once
Bluewater submitted its
opening offer, the Govern-
ment’s negotiating team
would assess it, seek any }
‘clarifications that were nec- |
essary and then give its
response to the bidder.

Mr Smith acknowledged
that other groups were inter-
ested in BTC, but these
would have to wait to begin
their own due diligence until
negotiations with Bluewater
were completed.

“There-are about two oth-
er companies, but we’ve told
them they have to wait until,
we’ve completed negotia-
tions with Bluewater,” Mr





| _ SEE page 4B














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FROM page 1B

properties once owned by infa-
mous Colombian-German drug
trafficker Carlos Lehder, which
were vested in the Public Trea-
sury. after being seized by the
Bahamian authorities.

Sources said the developers
were also seeking to acquire
surrounding land from a group
of Bahamian businessmen and
attorneys that had been instru-

‘mental in attracting Aman to

the Bahamas.

However, the Government is
understood to want to amend
the Heads of Agreement to
obtain a greater percentage
from real estate sales associated
with this surrounding land.

This was because it felt the ,

Bahamian group was getting
#00 good a deal, having brought
\man to Norman’s Cay and
increased the value of its land-
holdings.

However, Aman Resorts
would be an ideal addition to
the Bahamian hotel product
mix. The size of its develop-
ments are in keeping with
retaining the character of Fam-
ily Island destinations,,.

And its high-end, luxury bou-
tique nature will enable Aman

away

naaawe

nctnsanes iStick ites nt vt ie tense sie ie hsm no mis Sa rsaadamnense aaiay

7

ue Pry ew

to charge and justify room rates
that will cover the relatively
high operating costs encoun-
tered in the Bahamas, ensuring
it is profitable.

Meanwhile, Mr Zecha
described the history of Aman
Resorts to The Tribune. “The
company was started some 19
years ago when I left journal-
ism, tired of fighting the end-
less press censorship in Asia,”
he laughed.

“I started the company to be
a boutique, ultra-luxury hotel
chain focusing on the niche
market of highly affluent and
well-travelled people. They
want unparalleled levels of ser-
vice, with a sense of adventure
and uniqueness.

“Today, some 18 operating

resorts later - and’a few on the
horizon - we are spread
throughout the world in some
pretty exotic destinations:
French Polynesia, Asia, Thai-
land, Europe, Philippines and
our newest resort in the Turks
and Caicos,” Mr Zecha said.
“Last year, 144,000 customers
visited our resorts: 26 per cent
coming from the US, 44 per
cent from Europe, with Asia,
Latin America and the Middle
East making up the difference.
“Moreover Aman resorts are



Campaign runs until July 14 2006

‘happen of the Het of Now Sit THAR aH eT Seal Pera Af tee Bed of Baa tein

ii AN ARTIST’S rendering of the planned beach club at Amancaya, Norman's Cay

igh-end resort plan

known for their environmen-
tally friendly designs and pro-
jects,” Mr Zecha told The Tri-
bune, as he pointed to a map
and his many resort locations
on it. .
“We never allow grey water
into the soil or sea without it
being treated. We intend to
build our own water plant, pow-
er plant and sewerage facilities
on Norman’s Cay. :
“Our resort will feature 40
bungalows and 28 high-end vil-

las that will blend into the envi- .

ronment and natural aesthetics
of the island, a lodge, spa, mari-
na and marina village. There
will also be 70 other villas which
people can purchase in a num-
ber of plans pre-designed by our
architects around the resort,”
Mr Zecha said.

“The resort will be open to
the Bahamian public. They can
come by boat and by plane, and
have lunch or dinner at the
resort or clubhouse.

“We intend to extend the
runway from 2,500 feet to 5,000
feet and install lighting on the
runway to allow for night oper-
ations. While some of our guests
will arrive:at Nassau Interna-
tional, quite a few will arrive on
their private jets and we have
secured an agreement with the



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B AMAN Resorts’ spectacular setting in the Turks and Caicos

Government for Norman’s Cay
to be-a Port of Entry to the
Bahamas with Immigration and
Customs,” he said,

_ “The resort will employ 80 to

100 full-time employees who -

will live in accommodations that
we will build on the island.
There will be obviously more
manpower building the infra-
structure as well as the other
homes,” Mr Zecha said.

“The government of Turks
and Caicos allows a 50/50 ratio
between ex-pats and local staff.
While we don’t expect this in
the Bahamas, we do intend on
bringing in a number of ex-pats
to work alongside Bahamians.

“We will also have a transfer
programme for our staff at Nor-
man’s Cay so that they can go
away and cross-train at any of
our resorts worldwide. This will
allow us to promote promising
Bahamian talent and give them
unmatched experience, as well





Estates & Villas, Eleuthera.

Responsibilities include:
infrastructure

phone system

recovery plan

Requirements:

systems











literate.

fund benefits.

as opportunities in other coun-
tries of the world,” Mr Zecha
said.

“We have just opéned up an
Aman Resort in the Turks and
Caicos on March 1. We are.cur-
rently operating at 100 per cent
capacity.

“That site took 18 months for
government approval from the
time we identified it. It then

took just under two years to

build,” Mr Zecha said.

“In terms of real estate we
have thirty-three 5,000 square
foot villas for sale in our Turks
and Caicos project. We have
already sold 12 of these villas
to our Aman ‘Junkies’ at an
average rate of $6-$7 million
per villa. Ten of these villas are
under construction already, and
so we are extremely pleased
that without even putting the
product on the market we have
achieved this level of-sales.”

“Aman Junkies! They refer

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POSITIONS AVAILABLE
SENIOR ASSOCIATES

PricewaterhouseCoopers has vacancies for qualified accountants whose
qualifications make them eligible for membership in the Bahamas Institute
of Chartered Accountants. Prospective candidates should have at least three
(3) recent years of public accounting and auditing experience and be computer

The positions offer challenging work in the financial services industry and
other areas of industry and commerce. The salary scale, which recognizes
different levels of experience and skill, is designed to reward high’performance.
In addition, the Firm provides excellent medical insurance and provident

Please submit your application with Curriculum Vitae to:

Human Resources Partner

PricewaterhouseCoopers
P.O, Box N-3910
Nassau, The Bahamas

INFORMATION
TECHNOLOGY MANAGER

ihit: THIBUNE

to the loyalty of our customers
and they go wherever we go. In
fact,” Mr Zecha laughed, “our
most sought after t-shirt says:
‘?'m an Aman Junkie’.

~“We intend at looking and

developing other sites in the

Bahamas. We have specifically. -

looked at two other sites to
date. One is the world’s deepest

blue hole, an amazing site just |

off the beach, surrounded by
cliffs in Long Island, and the
other is one in Grand Bahama.

“T am a great admirer of Sol
Kerzner and the outstanding

job that he has done in the:

Bahamas. But there is no luxu-
ry, boutique, high-end products
in the Bahamas,” Mr Zecha
said.

“We look forward to creat-

ing that five-star small, intimate
resort within two years once the
outstanding issues are resolved

and our Heads of Agreement , .

is signed.”





















|
HE | HIbUNE







n order to protect their

business name and

trademark (logo),

entrepreneurs are

advised to register
these immediately upon estab-
lishing their business venture,
notwithstanding the legal form
they choose to organise their
business in.

Requirements for

Registration of

Business Name

Section 3 of the Registration
of Business Names Act 1989
requires every firm, individual
and corporation having a place
of business - and carrying on
business - in the Bahamas to.
register its business name in
accordance with the provisions
of the Act. The Act defines a
‘business name’ as “the name
and style under which any busi-
ness is carried on, whether in
partnership or otherwise”.

Generally, every firm, indi-
vidual or corporation is

required to provide, along with ©

the prescribed fee, a statement
in writing, under Form 1(for an
individual), Form 2 (for a firm)
and Form 3 (for a corporation),
which contains the following
information:

* The business name.

* The general nature of the
business.

* The principal place of the
business.

* For the registration of a,

firm, the present given name
and surname; any former given
name or surname; the nation-
ality; usual residence; and other




PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, KENNEAIL KEVERIO
SMITH, of P.O. Box N-9858, the Eastern District of
Nassau, Bahamas, intend to change my name to
KENNEAIL KEVERIO JOHNSON. If there are any
objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box N-742, Nassau, Bahamas no later than thirty
(30) days after the date of publication of this notice.







Malye Aca c(i





business occupation (if any) of
each of the individuals who are
partners; and the corporate
name and registered or princi-
pal office of every corporation
that is a partner.

* For the registration of an
individual, the present given
name and surname; any former
given name or surname; the
nationality; the usual residence;
and the other.business occupa-
tion (if any) of such individual.

* For the registration of a cor-
poration, its corporate name
and registered or principal
office. :

* If the business commenced °

after the date of commence-

ment of the Act (29 December,

1989), the date of commence-
ment of the business.

The foregoing particulars

must be provided to the Busi-
ness Names Department at the

Registrar General’s Office,
which is responsible for the
administration of the Act, with-
in 14 days after the individual,
firm or corporation starts busi-














nN



mgt necr.












Employment Opportunity - Nortel PBX and Key System Engineer

Applications are invited from individuals who have:

* A minimum of 10 years experience in Nortel. telecommunt co



’ ness. The statement containing

such particulars must be signed
by the relevarit individual, part-
ners or director or secretary, as
the case may be. Such particu-
lars are required to be com-
pleted in Form 6 (for an indi-
vidual), Form.7 (for a firm) or
Form 8 (for a corporation).

It is importzint to note that a
business licence issued by the

Business Licence Department .

is required to te issued before a
business name can be regis-
tered. The licence must “be
attached to the relevant form,
on application for the registra-
tion of a business name.

The filing fee for a Statement
of Particulars-(on application)
and regular annual fee for the
registration of a business name
is $150.

The Registrar General keeps
an index, or Register of Busi-
ness Names, for all individuals,
firms or corporations registered
under the Act, and the admin-
istrative fee for an inspection
of the Register is $5.

A Certificate of Registration
is issued by the Registrar Gen-
eral as documentary evidence
of the registration of the busi-
ness name of the firm, individ-
ual or corporation. This is done
following completion of the rel-
evant forms, the provision of





faking a Mar
yusSiness name








ti

the required particulars, and the
payment of the aforementioned
tiling/registration fees. A notice
is also placed in the Official
Gazette, indicating that the

business name has been regis-.

tered for the particular firm,
individual or corporation.

The Certificate of Registra-
tion or a certified copy must be
exhibited in a conspicuous posi-
tion in the place of business of
the firm, individual or corpora-
tion. Failure to exhibit the Cer-
tificate of Registration, as
required by the Act, may result
in a fine of $1,000 being levied
against every partner, individ-
ual, secretary or director, or
imprisonment for three months.

Registration of Trademark

A trademark is defined by
Section 2 of the Bahamas Trade
Marks Act 1906 as “a mark
used or proposed to be used,
upon or in connection with
goods, for the purpose of indi-
cating that they are the goods of
the proprietor of such trade-
mark by virtue of manufacture,
selection, certification, dealing
with or offering for sale”. In
other words, a trademark is a
distinctive symbol that identi-
fies particular products (or ser-
vices) of a proprietor of the
trademark to the public.

A proprietor may be any per-
son, company or firm that has a
trade connection with the goods
(or services) for which the
trademark is registered (for
example, a manufacturer,

“ importer, retailer, business

establishment). Once the pro-
prietor registers the trademark,
he has the exclusive right, under
Section 39 of the Trade Marks
Act, to use the trademark in
connection to the goods (or ser-
vices) for which it was regis-
tered.



wenbar

Under the Trade Marks Act,
the registration of trademarks
is initially for 14 years. Howev-
er, it is renewable for a further
14 years on expiration of the
original registration or last

renewal of registration, upon ~

application by the proprietor to

baae wk

is ly

Lg baw whe FP de on tere



} ough
istration

the Registrar General of the
Bahamas.

A “registrable trademark” (a
trademark capable of being reg-

istered under the provisions of on

SEE page 5B

NOTICE

IN THE ESTATE OF JOHN RICHARDSON | °2

MORLEY late of Ryswick, Montagu Foreshore, |
East Bay Street in the Eastern District of the’ ~ ] |
Island of New Providence one of the Islands of }'

the Commonwealth of the Bahamas,

Deceased

NOTICE is hereby given that all persons having |
any claim or demand against the above Estate are |
required to send the same duly certified in writing |
to the Undersigned on or before the 12th day of |
June, 2006, after which date the Executors will |
| proceed to distribute the assets having regard only
to the claims of which they shall then have had |

notice.

AND NOTICE is hereby also given that all persons
indebted to the said Estate are requested to make. |
full settlement on or before the date hereinbefore

mentioned.

HIGGS & JOHNSON

Attorneys for the Executors

Chambers

P.O. Box N-3247
Ocean Centre
Montagu Foreshore,
East Bay Street
Nassau, Bahamas

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Indigo Networks is seeking to fill a sentor position in its Technical Services =
‘Lee

department for an exprinoed Telecommuntcations and Networking S

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4 Ze













































technical support role,
6 ee ae
Ability to meet with Customers in a Sales Capacity. | Colina
+ Ability to perform analysis, recommendations, and Implementation to Pan Si ee Ora Aes
Customer's Voice and Data Networks, |e
| * In depth Design, Programming, Implementation, Maintenance of ae
Nortel Norstar, BCM, Meridian Option LIC and 8IC systems. Abaco Markets — ee See snenge sae oe ana aie 0.000 NM 6.00% 3s
‘ ‘ Baharnas Property Fund 11.00 11.00 0.00 1.568 0.360 7.0 3.20% es
Knowledge of ESN is essential, Bank of Bahamas 7.23 7.23 0.00 0.643 0.330 11.2 456% es
; : Benchmarc 0.71 0.71 0.00 0.183 0.020 3.9 2.82%)’
* Programming and Installation of TI's and PRI's ae ee i oe Set, een ee, eee
* Knowledge of PBX Inter-Networking and VOIP Integration. SaeHorece ee nar mee hee se ia.done CR 2gale
© Rout d VLAN exnerience as it relates to th - Consoliciated Water BORS "374 "321 O47 ot 0s B84 cents:
Routing, Trunking, QOS; al experience as I it ates lo l ¢ Bostate Hospital 246 2.46 0.00 0.437 0.000 5.6 oRee es
Integration of Voice and Data Networks Famguard 6.20 6.20 0.00 0.539 0.240 11.5 3:8 7%fo?
‘ inco 11, : 3 : 0.73 : é B0%|e,
aes, Firsicaribbean 12.00 12.00 0.00. 874 0.500 ta7 eeeale:
i * Excellent customer service skills Focol 10.42 10.50 0.08 1,000 0.833 0.500 12.6 4:76%ho*
‘ . ee cere fe 1.15 p08 eee 0.000 N/M 0.00% i.
I tilities is 9.50 A - r a
© Good ora and wntten skills JeS.dohmeon 2.00 8.00 0.00 0872 Osco 187 G22%
| ° Ability to work with minimum supervision. erzner Internationa Ss -98 -97 -0. : 0.000 Eee 0.00%




Weekly Vol




Last Price
11.00
10.00

1.997
0.000

14.00
10.00

15.00
10.35

Bahamas Supermarkets
Caribbean Crossings (Pref)





| __ Accompetitve salary commensurate with experience is offered along with
| product training, medical, pension and car allowance after a qualifying
| period.



28.00 ABDAB
13.00 Bahamas Supermarkets
RND Holdings __



? fo
14.00 8.0 2.57%




ee ee ee nt ee ee EEE








NA
1.285819*
2.7451 ***
2.329423**

1.164331*



Colina Money Market Fund
Fidelity [Bahamas G & | Fund
Colina MSI Preferred Fund
Colina E3ond Fund






Interested candidates should submut their resumes in writing to Indigo
Networks PQ Box N-3920 for the attention of the Technical Services
Manager.











Bid $ - Buying price of Colina and Fidelity
Ask $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price

52wk- 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





































**- AS AT APR. 30, 2006/ ****
6.

Today's Close - Current day's weighted price for daily volume
Change - Change in closingeprice from day to day

Daily Vol. - Number of total share:s traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the |'ast 12 month earnings

- Ais AT MAY. 01, 2006

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



4
‘
‘
‘
‘
i

4
‘
t
‘
PAGE 4B, THURSDAY, MAY 11, 2006

THE TRIBUNE ©

LS



BTC talks ‘waiting’ on government negotiators

FROM page 1B

Smith said.

The minister of state for
finance told The Tribune that
he was unable to name the Gov-
ernment’s negotiating team, as

. their appointments had not
‘ been formally approved.

However, the team is likely
to include representatives from
government agencies such as
the Ministry of Finance, Min-
istry of Works and Public Util-
ities and the Attorney General’s
Office, plus members of BTC’s
Board and executive manage-
ment.

Concerns were expressed by

the bidders involved in the pre-
vious failed BTC privatisation
process back in 2003 that the
then-Tenders Commission con-
tained potential conflicts of
interest and vested interests,
due to the presence of BTC
Board members and manage-
ment executives on the Com-
mission.

Yet Mr Smith yesterday said
it was “kind of inevitable” that
BTC executives were included
on the Government’s negotiat-
ing team, as excluding them
would leave them - as stake-
holders - feeling shut out of the
process.

The minister said that by
including them, the Govern-

Meu. wou casure lat there
was a “buy in” to the privatisa-
tion from BTC executives, who
would understand “from day
one” why decisions were being
taken and why.

Among the key issues likely
to dominate the negotiations
between the Government and
Bluewater are the price the lat-
ter is willing to pay; conditions
of any agreement; the extent of
the monopoly BTC holds in
fixed-line and cellular services,
and how long it will be main-
tained; capital expenditure and
how much Bluewater is willing
to put into its business plan;
how much the group would
invest in training Bahamians;

the composition of the Board;

and management agreements.
“There are a number of

issues; technical, legal and finan-

cial,” Mr Smith said, adding that’

BTC’s cellular monopoly was
going to be “one of the more
sensitive areas”.

Financial

This is because BTC’s finan-
cial performance, said to have
recovered to a $34.533 million
net profit in 2005 from $8.34
million in 2004, is heavily
dependent on its cellular
monopoly to keep the company
afloat.

Competition has. eroded

BTC’s profitability and rev-
enues in about almost every
other area it competes in, and
opening up cellular - while ben-
efiting the Bahamian private
sector and residential con-
sumers - could impact BTC.
Bluewater Communications
Holdings is described as a com-
pany that works with existing
management teams to “restruc-
ture and reinvigorate" telecoms

‘ companies such as BTC.

Among Bluewater's princi-

pals are Roger Ames, former
‘chairman and chief executive

of Warner Music Group, and
president of Warner Music
International from August 1999
to August 2004.

Tourist arrivals down 5% in early 2 006

: FROM page 1B

rise in sea arrivals to Grand
Bahama.



According to statistics
released by the Ministry of
Tourism’s Research and Statis-
tics Department, 790,069 per-
sons travelled to the Bahamas



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in the first two months of the
year, compared to the 833,760
which visited the country during
the same period in 2005.

Nassau/Paradise Island saw
an increase in air arrivals of 5
per cent, while sea arrivals
decreased by 11 per cent.

In Grand Bahama, the trend
was reversed with air arrivals
decreasing by 1 per cent and
sea arrivals increasing by 21 per
cent.

Visitor numbers to the Fami-
ly Islands dropped by 11 per
cent for both air and sea travel.

Month

During the month of Febru-
ary, air arrivals to the entire
Bahamas rose by 2.5 per cent
to 128,716 persons, up from the
125,615 arriving in February
2005.

Nassau/Paradise Island air
arrivals rose by 2.2 per cent to

March, 2006.



LEGAL NOTICE

NOTICE

AFRINVEST SECURITIES LIMITED

Notice is hereby given that in accordance: with Section
137 (4) of the International Business Companies Act
No. 45 of 2000, AFRINVEST SECURITIES
LIMITED, has been dissolved and struck off the
Register according to the Certificate of Dissolution
issued by the Registrar General on the 31st day of

Exulta Anstalt, Kirchstrasse 33,
FL-9490 Vaduz,
Liquidator

92,657, compared to the 90,655
arriving last year. In Grand
Bahama, air arrivals rose by 2.5
per cent, to 18,2116 from 17,773
the previous year.

Overall, sea arrivals to the
Bahamas decreased by 6.4 per
cent. The statistics indicated
that 261,796 persons arrived in
the Bahamas by boat at first
port of enrty, compared to the
279,777 last yeat.

While Nassau recorded a
decrease of 11.3 per cent in sea
arrivals by first port (142,018
compared to the 160,066 arriv-
ing in 2005), Grand Bahama
saw an increase of almost 10,000
more. persons '- up by 48 per
cent, from 19,478 in 2005 to
28,822 - this year.

The Family Islands also saw a
9.3 per cent dlecrease in sea
arraivsl by first port of entry,
which contributed to the overall
decrease in sea arrivals, despite
Grand Bahama’s strong perfor-










mance. }
Arrivals

For the February year-to-
date, Nassau/ Paradise Island’s
cruise arrivals decreased by 11.3
per cent, while Grand Bahama’s
arrivals increased by-35 per cent
and the Family Island sea
arrivals decreased by 8.2 per
cent. This resulted in an 8.2 per
cent decrease in overall arrivals
for the February year to date -
536,839 from 584)613.

The Ministry of Tourism
attributed the decline in cruise
traffic to Nassau/ New Provi-

dence to the fact that a number .

of cruise lines brought in fewer

Also involved is the former
chief financial officer of a UK-
based cable operator called

. NTL, John Gregg. He was for-

merly managing director of two
European broadband cable
operators, Cablecom GmbH
and iesy Hessen GmbH.

Mr Gregg was also managing
director of the Cellular Com-
munications Inc group of com-
panies, which operated cell
phone networks in the US,
Puerto Rico, the US Virgin
Islands and Italy.

With NTL, he had experience
of offering ‘Triple Play’ services,
meaning that telephone, televi-
sion and Internet services were
provided down one line.

passengers than they did last
year, while cruise lines traveling
to Grand Bahama brought in
more passengers. Carnival
increased its Grand Bahama
passenger load by 66 per cent.

In terms of the other Family
Islands, while cruises may have
travelled to the islands, in some
cases, they traveled to another
Bahamian port as the first point
of entry.

In the case of Castaway Cay,
Disney Cruise line stopped in
Nassau before making its way to
its private island. Royal
Caribbean did the opposite
stopping at its private island,
Coco Cay, before sailing into
Nassau.

We would like to advise our clients that we,
VINCENT A. KNOWLES and NIGEL
CASH are not longer associated with

K.A.P. INSURANCE
AGENTS AND BROKERS

We are please to advise that we will continue
to offer insurance services to you!

Contact us at

LAMPKIN & COMPANY

12 Montrose Avenue
Tel: 325-0850, Fax: 326-8024

Mr. Vincent A. Knowles and Nigel Cash



NOTICE

IN THE ESTATE OF RUSSELL :
RAY SUTTON late of 19020 W.

Lake Drive, Miami, Miami-Dade:
County, United States of America,

S Operations Securities Specialist

In order to meet our requirements all applicants
must possess:

*Minimum of BA in Accounting, Banking or
‘Finance or min: three years work experience in
the securities industry;

«Strong emphasis in trade processing,
settlements corporate actions;

Highly skilled in all aspects of Mutual funds
subscription and Redemption;

*Keen knowledge of complex financial
instruments i.e structured products, hedge
funds;

*Strong problem resolution skills;

“Excellent oral and written communication
skills;

*Proficient in Microsoft Excel, bloomberg,
telekurs;

«Completion of the Series 7 or Series 6 course
is a plus;

«Supervisory skills is a plus.

Written applications by Bahamian nationals only
sbould be addressed to:

UBS (Bahamas) Ltd.
Human Resources
P.O. Box N-7757
Nassau, Bahamas





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deceased

NOTICE is hereby given that all persons:
having any claim or demand against the:
above Estate are required to send the same
duly certified in writing to the Undersigned’
on or before the 22nd day of May, 2006,
after which date the Personal Representative
will proceed to distribute the assets having
regard only to the claims of which she shall
then have had notice.

HIGGS & JOHNSON
Attorneys for the Executors
Chambers

P.O. Box N-3247

Ocean Centre

Montagu Foreshore

East Bay Street

Nassau, Bahamas


-THE TRIBUNE

Making a Mark through the business name registration

FROM page 3B

the Act) must contain or consist
-of at least one of the following
,essential particulars:
,. 1. The name of a company,
individual or firm represented
in a special or particular man-
ner.
, 2. The signature of the appli-
cant for registration or some
\predecessor in his business.

_, 3. An invented word or
invented words.

4. A word or words having
no direct reference to the char-
-acter or quality of the goods,
‘and not being, according to its
ordinary signification, a geo-
graphical name or surname.

5. Any other distinctive mark,
but a name, signature, or word
or words, other than one that
falls within the descriptions in
the foregoing clauses, which by
order of the Supreme Court is
deemed to be a distinctive mark
(‘distinctive’ means adapted to
distinguish the goods of the pro-
prietor of the trademark from

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those of other persons).

Any person claiming to be a
proprietor of a trademark who
is desirous of registering the
trademark must apply in writing
to the Registrar, Industrial
Property Department, Regis-
trar General’s Office, as pre-
scribed by the Trade Marks Act
and Trade Marks Rules.

The Registrar does have the
discretion to réfuse an applica-
tion for the registration of trade-
marks, or to accept the appli-
cation subject to certain condi-
tions, amendments or modifi-
cations.

The proprietor/applicant
must complete Form No.1 in
the First Schedule of the Trade
Marks Rules, and every appli-
cation for the registration of a
trademark must contain a rep-
resentation of the mark affixed
to it in the square which is pro-
vided on Form No.2 in the First
Schedule of the Trade Marks
Rules.

Every application for regis-
tration of a trademark must be










Phone: (242) 325-6770
#34 Blue Hill Rd.
Opposite Government Gardens



The Federal Republic
of Germany

The Public is advised that effective

immediately, the new office hours are as

follows:

Tuesday - 2:00 pm - 4:00 pm
Thursday - 2:00 pm - 4:00 pm

During this period the Honorary Consul will

be able to review applications for Schengen

Visas, Passports and other Consular Matters.

| Please also be advised that the office is situated

in Alliance House on East Bay Street.



BUSINESS

accompanied by four additional
representations of the mark on
Form No.3 in the First Schedule
of the Trade Marks Rules.
Application may also be made
for the registration of the same
mark in different classes of

_ goods.

Upon receipt of the applica-
tion for registration, the Regis-
trar will furnish the applicant
with an acknowledgement of
the application. The Registrar
will then conduct a search of
the existing registered trade
marks and.pending applications
for registration in order to
ascertain whether there are any
trademarks on the Register of
Trade Marks that are for the
same goods or description of
goods identical to the trade
mark being registered by the
applicant.

After the search, the Regis- —

trar may accept the trademark
absolutely or subject to condi-
tions, amendments and modifi-
cations, which he will notify the
application in writing. Once












. Bahamas.

NOTICE

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

NOTICE

NOTICE is hereby given that EUNIDE LOUISSAINT OF P.O.
BOX N-4185, WEST STREET, 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 4TH day of MAY, 2006 to the
Minister responsible for Nationality and Citizenship, P.O.Box
N- 7147, Nassau, Bahamas.

accepted, the Registrar will
advertise the trademark in the
Official Gazette (local newspa-
per), during which time any per-
son may, within one month
from the date of the advertise-
ment in the Gazette, give notice,
in writing, to the Registrar's
General's Office of his opposi-
tion to the registration.

At the expiration of the one-
month period for the advertise-
ment, the Registrar may, sub-
ject to any opposition to the

registration and the payment of
the Government fee for regis-:

tration, enter the trademark on
the Official Register of Trade
Marks. Upon registration of the
trademark, the Registrar will
issue a Certificate of Registra-
tion to the applicant.

Once registration has been
completed and a Certificate of
Registration issued, all regis-
tered trademarks are kept at
the Registry of Records in a
Register of Trade Marks.

The proprietor of a trade-
mark may assign it or allow oth-












THURSDAY, MAY 11, 2006, PAGE. 5B




ers to use it. However, if a per-
son uses a registered trade mark
without the proprietor’s per-
mission or uses a mark that is
likely to be confused with the
registered trademark, the pro-
prietor can sue that person for
infringement of trademark, and
initiate court action for an
injunction and/or damages, or
an account of profits.

NB: The information con-
tained in this article does not
constitute nor is it a substitute

-for legal advice. Persons reading

this article and/or column, gen-
erally, are encouraged to seek

the relevant legal advice-and
assistance regarding issues that
may affect them and may relate
to the information presented:
© 2006. Tyrone L. E. Fitzger-
ald. Allrights reserved. +:
Tyrone L. E. Fitzgerald is‘a
practising attorney in the Cham-
bers of Fitzgerald & Fitzgerald,
Counsel, Attorneys-at-Law, and
Notaries Public. Should you
haye any. comments or enquiries
regarding the content of this
article, you may contact Mr
Fitzgerald at Suite 212, Lagoon
Court Building, Olde Towne
Mall at Sandyport, West ‘Bay
St., P. O. Box CB-11173 3" +

h

NOTICE.

NOTICE is hereby given that RODNE FERTILIEN OF MINNIE
STREET, 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 4TH day of MAY, 2006 to the Minister responsible
for Nationality and Citizenship, RO.Box N- 7147, Nassau}

Bahamas.

L












mentioned areas. |









BADING LAW FIRM.

invites applications for an attorney for Abaco Office.

Applicants must have a minimum of 3 years experience
in the areas of Conveyancing and Litigation, demonstrate
an ability to work independently and possess a thorough
working knowledge and technical competence in the

Successful applicants can look forward to competitive’
remuneration and benefits.

Apply in confidence to: '

G. Bastian
P.O. Box N-3247
Nassau, Bahamas
Or to:
glosbastian @hotmail.com



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#






PAGE 6B, THURSDAY, MAY 11, 2006

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Fidelity Merchant Bank & Trust Limited = —
(Incorporated under the laws of the Commonwealth of The Bahamas)

Consolidated Balance Sheet
As of 31 December 2005
(Amounts expressed in Bahamian dollars)
2005 2004
~$ $
ASSETS
Cash on hand and at banks (Note 3) 14,510,447 10,694,099
Investment in associate (Note 2 (c)) 888,354 842,867
Investment securities
-financial assets at fair value through profit or loss (Note 4) 12,906,124 9,093,245
-government securities (Note 5) 1,683,500 1,210,300
Loans and advances to customers (net) (Note 6) 4,388,225 4,802,241
Receivables and prepayments (Note 7) 913,533 2,494,807
Property, plant and equipment (Note 8) 603,502 : 606,971
35,893,685 29,744,530
LIABILITIES
Customer deposits (Note 9) 25,742,078 25,633,339
Other liabilities and accrued —

expenses (Note 10)

6,132,486 592,843

31,874,564 26,226,182

EQUITY
Capital and reserve attributable to the Bank’s

equity holders
Share capital.— ordinary shares (Note 13) 1,000,000 1,000,000
Share capital — preference shares (Note 14) 2,000,000 2,000,000
Retained earnings 1,019,121 518,348 -

TOTAL LIABILITIES AND EQUITY

bases. 4,019,121 3,518,348

29,744,530

35,893,685

Approved on behalf of the Board of Directors:

Av —iisiente oa!
Director



20 April 2006

Date

NOTES

1. Incorporation and activity

Fidelity Merchant Bank & Trust Limited (the Bank) was incorporated under the laws of the
Commonwealth of The Bahamas on 19 June 1998, and has been granted an unrestricted bank and
trust licence under the provisions of the Banks and Trust Companies Regulations Act, 2000. :

The Bank, through its wholly-owned subsidiaries incorporated in The Bahamas, Fidelity Capital
Markets Limited (FCML), Fidelity Share Register & Transfer Agents Limited FSRTAL) and Fidelity
Pension & Investment Services Limited (FPISL), and its branch office in Freeport, Grand Bahama,
offers a full range of private banking, investment management, share register and transfer agency,
pension, brokerage ’and investment advisory services.

The Bank is a wholly-owned, subsidiary of Fidelity Bank & Trust International Limited (the Parent
Company), which is incorporated in the Commonwealth of The Bahamas. The registered office of the
Bank is situated at #51 Frederick Street, Nassau, The Bahamas. ‘

The number of persons employed by the Bank as of 31 December 2005 was 37 (2004: 25).

‘Summary of significant accounting policies

The principal accounting policies adopted in the preparation of these consolidated balance sheet
are set out below. These policies have been consistently applied to all the years presented, unless
otherwise stated.

(a) Basis of preparation

(b)

(c)

(d)

©

@

The consolidated balance sheet has been prepared in accordance with International. Financial
_Reporting Standards (IFRS). The consolidated balance sheét is prepared under the historical
cost convention, as modified by the revaluation of financial assets and financial liabilities
held at fair value through profit or loss.

The preparation of the consolidated balance sheet in conformity with IFRS requires the use
of certain critical accounting estimates. It also requires management to exercise its
judgement in the process of applying the Bank’s accounting policies. The areas involving a
higher degree of judgement or complexity, or areas where assumptions and estimates are
significant to the consolidated balance sheet, is disclosed in Note 19.

Consolidation

Subsidiaries are all entities over which the Bank has the power to govern the financial and

operating policies generally accompanying a shareholding of more than one half of the
voting rights. The existence and effect of potential voting rights that are currently exercisable
or convertible are considered’ when assessing whether the Bank controls another entity.

‘Subsidiaries are fully consolidated from the date on which control is transferred to the Bank.

They are de-consolidated from the date that control ceases.

Inter-company transactions, balances and unrealised ‘gains on transactions between group
companies are eliminated. Unrealized losses are also eliminated unless the transaction
provides evidence of impairment of the asset transferred. Accounting policies of subsidiaries
have been changed where necessary to ensure consistency with the policies adopted by the
Bank. ;

- Thé consolidated balance sheét includes the accounts of the Bank and its subsidiaries,
FCML, FSRTAL and FPISL after elimination of all significant inter-company transactions.

Investment in associate

Associates are entities over which the Bank has significant influence but not the power to
govern the financial and operating policies, generally accompanying a shareholding of

between 20% and 50% of the voting rights. Investments in associates are accounted for using ~

the equity method of accounting and are initially recognised at cost. As of 31 December
2005, the Bank had a 33.33% ownership interest in West Bay Development Company, which
is incorporated in the Commonwealth of The Bahamas and its activities consist of holding
investment property for the purposes of rental income andi capital appreciation.

Fiduciary activities



The Bank commonly acts as trustee and in other fiduciary capacities that result in the holding
or placing of assets on behalf of individuals, trusts, retirement benefit plans and other
institutions. These assets and income arising thereon are excluded from this corisolidated
balance sheet, as they are not assets of the Bank and its subsidiaries.

Foreign currency translation
i) Functional and presentation currency

Items included in the,consolidated balance sheet of the E mk are measured using the
currency of the primary economic environment in which the entity operates (“the
functional currency”). The consolidated balance sheet is presented in Bahamian
dollars, which is the Bank’s functional and presentation currency.

ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the
exchange rates prevailing at the date of the transactions. Foreign exchange gains and
losses resulting from the settlement of such transactions and from the translation of
monetary assets and liabilities denominated in foreign currencies are recognized in
the consolidated statement of operations. Translation differences. on monetary
financial assets measured at fair value are included in foreign exchange gains and
losses.

Financiai assets

The Bank classifies its financial assets as financial assets at fair value through profit or loss
and loans and receivables. Management determines the: classification of its investment at
initial recognition. Tt ytSee ,

i) Financial assets at fair value through profit or loss

This category has two sub-categories: financial assets held for trading, and those
designated at fair value through profit or loss at inception. A financial asset is
classified in this category if acquired principally for the purpose of selling in the
short term or if so designated by management. °

Management determines the appropriate classification. of its investments at the time

"of purchase. Fair values of exchange-traded securities are determined using the closing
market price at the close of trading on the balance sheet date. The fair value of over-
the-counter securities are determined using the average bid price quoted by local broker
dealers. Securities for which no quoted price is available are valued by Directors.
Changes in the fair value of investments are included as net unrealised appreciation
or depreciation on in the consolidated statement of operations.

fi) Government securities
Government securities have been designated as financial assets at fair value through

profit or loss. Government securities are carried at amortized cost which
approximates fair value.



(g)

(h)

@)

@)

iii) Loans and receivables

THE TRIBUNE BUSINESS

4

Loans and receivables are non-derivative financial assets. with fixed or determinable
payments that are not quoted in an active market. They arise when the Bank provides
money, goods or services directly to a debtor with no intention of trading the
receivable.

Purchases and sales of financial assets at fair value through profit or loss are
recognized on trade-date — the date on which the Bank commits to purchase or sell
the asset: Loans are recognized when cash is advanced to the borrowers. Financial
assets are derecognized when the rights to receive cash flows from the financial
assets have expired or where the Group has transferred substantially all risks and
rewards of ownership.

Trades executed on behalf of customers are recorded on the trade date which is the
date that the Bank commits to purchase or sell the investments. For securities trade
transactions executed through BISX, the Bank records a net settlement receivable or
payable to the other broker-dealer on settlement date. Other brokerage fees. are
recognised at the time the customers’ account is charged. :

Valuation of financial guarantee contract

The financial guarantee contract is recorded at fair value on the date on which the agreement
is entered into and subsequently re-measured at fair value at each reporting date. Fair value is
determined as the difference between the amounts the Bank would receive from the contract
counterparty in excess of the amount the Bank would pay to the counterparty under the terms
of the financial guarantee contract. (See Note 15 (b)).

Loans and advances to. customers

Loans and advances are comprised principally of amounts that were originated by the Bank
and are recognised when cash is advanced to borrowers.

Loans and advances are stated at the principal amount outstanding plus accrued interest and are
comprised principally of fully collateralised loans. The Bank generally receives cash or
marketable securities as collateral. The marketable securities held as collateral for loans are not
reflected in the consolidated balance sheets.

As soon as the recovery of a loan or advance is identified as doubtful, a specific credit risk
provision for loan impairment is established to reduce the carrying value of the loan to its ,
estimated realizable amount. The credit risk provision also covers losses where there is
objective evidence that probable losses are present in the lending portfolio at the balance
sheet date. but which have not been specifically identified as such.

: Non-performing assets

Non-performing assets include all loans on which the status of overdue payments of principal
and interest are such that management considers it prudent to classify them to non-performing
status. All loans and advances to customers on which principal and interest payments are
overdue by in excess of ninety days are considered by management to be non-performing.

. When a loan is classified as non-performing, all interest previously accrued in the current year,

but not collected, is reversed against current year interest income and any interest accrued in
Prior years is charged against the provision for loan losses. Notwithstanding these parameters,
where a customer has re-established a pattern of prompt payment, management may agree to
reschedule arrears of loan interest and principal. Thereafter, interest income will be recognised
on an accrual basis.

Property, plant and equipment

Property, plant and equipment are stated at historical cost less accumulated depreciation and
amortization. ‘

Subsequent costs are included in the asset’s carrying amount or are recognised as a separate

asset, as appropriate, only when it-is probable that future economic benefits associated with

the item will flow to the Bank and the cost of the item can be measured reliably. All other

repairs and maintenance are charged to the statement of operations during the financial
. period in which they are incurred. : i

Depreciation and amortization are calculated using the straight-line method to allocate their
cost to their residual values over. their estimated useful lives as follows:

Estimated
useful life
Motor vehicles . 4 years
Furniture and fixtures 10 years
Equipment 5 years
Leasehold improvements : 5 years

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each
balance sheet date. : .

__,.Assets_that are subject to. amortization are reviewed. for.impairment-whenever events o1

()

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(m)

(n)

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(a)

price.

changes in circumstances indicate that the carrying amount may not be recoverable. An
asset’s carrying amount is written down immediately to its recoverable amount if the asset’s
carrying amount is greater than its estimated recoverable amount. The recoverable amount
is the higher of the asset’s fair value less costs to sell and value in use.

Leases

_ The Bank is the lessee

The leases entered into by the Bank are primarily operating leases. The total payments made
under operating leases are charged to the statement of operations on a straight-line basis over
the period of the lease. :

When an operating lease is terminated before the lease period has expired,,any payment
required to be made to the lessor by way of penalty is recognised as an expense in the period
in which termination takes place. - .

Interest income and expense recognition

Interest income and expense are recognised in the statement of operations for all instruments
measured at amortised cost using the effective interest method.

The effective interest method is a method of calculating the amortised:cost of a financial
asset or a financial liability and of allocating the interest income or interest expense over the
relevant period. The effective interest rate is the rate that exactly discounts estimated future
cash payments or receipts through the expected life of the financial instrument or, when
appropriate, a shorter. period to the net carrying amount of the financial asset. or financial
hiability.. When calculating the effective interest rate, the Bank estimates cash flows
considering all contractual terms of the financial instrument (for example, prepayment
options) but does not consider future credit losses. The calculation includes. all fees and
points paid or received between parties to the contract that are an integral part of the
effective interest rate, transaction costs and all other premiums or discounts.

Interest income and expenses are recognised on an accrual basis. The recognition of interest
income on loans is suspended when loans are in non-accrual status. Such income is excluded
from iriterest income until received.

Non-interest income recognition

Other income earned by the Bank, comprising principally of fees and commissions, is
generally recognised on an accrual basis. Realized gains and losses arising from the sale of
financial assets at fair value through profit or loss are recognised on the trade date.
Brokerage commissions earned on the purchase and sale of securities for its customers are
recognised on the settlement date. Other banking and brokerage fees are recognised at the
time the customers’ account is charged.

Offsetting of financial instruments

Financial assets and liabilities are offset and the net amount reported in the balance sheet
when there is a legally enforceable right to offset the recognized amounts and there is an
intention to settle on a net basis, or realize the asset and settle the liability simultaneously.

Impairment of financial assets
Assets carried at amortized cost

The Bank assesses at each balance sheet date whether there is objective evidence that a
financial asset or group’ of financial assets is impaired. A financial asset or a group of
financial assets is impaired and impairment losses are incurred if, and only if, there is
objective evidence of impairment as a result of one or more events that occurred after the
initial recognition of the asset (a ‘loss event’) and that loss event (or events) has an impact on
the estimated future cash flows of the financial asset or group of financial assets that can be
reliably estimated.

If there is objective evidence that an impairment loss on loans and receivables or held-to-
maturity investments carried at amortized cost has been incurred, the amount of the loss is
measured as the difference between the asset’s carrying amount and the present value of
estimated future cash flows (excluding future credit losses that have not been incurred)
discounted at the financials asset’s original effective interest rate. The carrying amount of the
asset is reduced through the use of an allowance account and the amount of the loss is
recognized in the statement of operations. If a loan or held-to-maturity investment has a
variable interest rate, the discount rate for measuring any impairment loss is the current
effective interest rate determined under the contract. As a practical expedient, the Bank may
measure impairment on the basis of an instrument’s fair yalue using an observable market

Cash and cash equivalents —

For the purpose of the consolidated statement of cash flows, cash and cash equivalents
comprise balances with less than three months’ maturity from the date of acquisition, including
cash and restricted balances with The Central Bank of The Bahamas, loans and advances to
banks, amounts due from other banks and short-term government securities.

Provisions

Provisions for restructuring costs and legal claims are recognised when the Bank has a present
legal or constructive obligation as a result of past events; it is more likely than not that an
outflow of resources will be required to settle the obligation; and the amount has been reliably
estimated.
















3.

(r) Ordinary share capital

i) Share issue costs

Incremental costs directly attributable to the issue of new shares or options or to the
acquisition of a business are shown in equity as a deduction, from the proceeds.

fi) Dividends on ordinary shares

Dividends on ordinary shares are recognised in equity in the period in which they are
approved by the Bank’s Directors.

Dividends for the year that are declared after the balance sheet date are dealt with in the
subsequent events note.

iii) Treasury shares

Where the Bank or other members of the consolidated Group purchases the Bank’s
equity share capital, the consideration paid is deducted from total equity as treasury
shares until they are cancelled. Where such shares are subsequently sold or reissued,
any consideration received is included in equity.

(s) Preference share capita:

Preference shares on which dividends are payable at the discretion of the Directors, have no
specific date for redemption and on which the shareholder has no option for redemption, are
classified as share capital and are presented in share capital.

i) Share issue costs

Incremental costs directly attributable to the issue of new shares or options or to the
acquisition of a business are shown in equity as a deduction, from the proceeds.

ii) Dividends on preference shares

Dividends on preference shares are recognised in equity in the period in which they
are approved by the Bank’s Directors.

Dividends for the year that are declared after the balance sheet date are dealt with in
the subsequent events note.

(t) Employee benefits i ;

Pension obligations

The Bank has a defined contribution plan: A defined contribution plan is a pension plan
under which the Bank pays fixed contributions into a separate entity. The Bank has no legal
or constructive obligations to pay further contributions if the fund does not hold sufficient
assets to pay all employees the benefits relating to employee service in the current and prior

periods.

(u) Comparatives

°

Where necessary, comparative figures have been adjusted to conform with changes in
presentation in the current year. The principal change relates to the preference shares issued
in 2004 in the amount of $2,000,000 which have been reclassified from liabilities to share
capital in accordance with the International Accounting Standard 32. Dividends relating to.
these shares have also been reclassified from the consolidated statement of operations to the

consolidated statement of changes in equity.

Cash on hand and at banks
2005 2004
: $ $
e
Cash on hand and deposits with banks 13,434,284 9,690,499
Mandatory reserve deposit 1,076,163 1,003,600
14,510,447 10,694,099

‘Mandatory reserve deposits are not available for use in the Bank’s day to day operations. Cash on

hand and balances with central banks and mandatory reserve deposits are non-interest-bearing.
Other money-market placements are floating-rate assets. ,

4. Financial assets at fair value throfigh profit or loss

5.

6.

2004

8 2005
_ Value ~.. Value. ~
$ $
Mutual Funds:
Fidelity Bahamas. Growth & Income Fund . 9,913,322 -
Fidelity Bahamas Prime Income Fund 254,622 -
Equity securities listed on BISX 1,318,501 7,670,636
Fixed income securities 1,295,713 1,105,916
Over the counter . 6,270 135,385
Not quoted 117,696. 181,308
; 12,906,124 9,093,245
Government securities
Due . Nominal _. Value
Interest Rate Date Value 2005 2004
$ a Gs $
Prime + 0.875 2 December 2005 - =" 2,000
Prime + 0.6875 7 May 2007 100,000 100,000 100,000
Prime + 0.75 7 May 2008 100,000 ‘ 100,000 100,000
Prime + 0.50 20 September 2009 190,000 190,000 . -
Prime + 0.3125 21 October 2009 150,000 . 150,000 150,000
Prime + 0.9375 5 July 2011 10,000 10,000 —~ -10,000
Prime + 1.00 24 March 2014 129,000 129,000 129,000
Prime + 0.625 22May 2014 6,500 6,500 6;500
Prime + 0.9375 21 July 2014 1,000 1,000 1,000
Prime + 1.125 15 October 2015 75,000 75,000 75,000
Prime + 0.1875 4 December 2015 90,000 90,000 90,000
. Prime + 1.25 15 October 2017 50,000 50,000 50,000
Prime + 0.25 24 March 2019 110,000 110,000 110,000
Prime + 0.15625 22 October 2019 29,700 29,700 -
Prime + 0.50 21 September 2020 10,000 10,000’ 10,000
Prime + 0.50 25 October 2020 55,000 . 55,000 - 55,000
Prime + 0.21875 29 July 2021 185,200: 185,200” -
Prime + 0.5625 30 July 2021 50,000 - 50,000 50,000
Prime + 0.375 4 December 2021 100,000 100,000 100,000
Prime + 0.5625 12 December 2021 12,000 12,000 12,000
Prime + 0.4062 6 September 2022 10,000 10,000 10,000
Prime + 0.25. 29 July 2022 5,200 5,200 _-
Prime + 0.25 22 October 2022 34,000 34,000 -
Prime + 0.4062 4 December 2022 100,000 100,000 100,000
Prime + 0.375 8 April 2023 24,200 24,200 13,800
Prime + 0.375 21 July 2023. 20,000 20,000 20,000
Prime + 0.28125 29 July 2023 10,400 10,400 -
Prime + 0.28125 22 October 2023 23,800 23,800 -
Prime + 0.375 9 February 2024 . - 9,000
Prime + 0.3125 29 July 2024 2,500 2,500 __—'7,000
As of 31 December 2005, prime was 5.50%.
Loans and advances to customers (net)
* 2005 2004
$ $
Unsecured advances to customers 6,990 29,514
Loans and advances to customers secured by:
Marketable Bahamian securities 4,573,290 4,446,040
Other 645,235 676,461
Less: Provision for losses (837,290) (349,774)
4,381,235 _ 4,772,727
4,388,225 4,802,241



The movements in the provision for credit losses during the year are as follows:

2005 2004

8 $ $
Balance at beginning of year 349,774 259,552
Provided during the year 293,603 . 201,524

Write-offs Soh ME (257,480)
Reversal of accrued interest 193,913 146,178

837,290 349,774

Average interest rates on loans and advances to customers range from 7.5% to 14.5%.

a fan loans and advances to customers at 31 December 2005 are $1,300,989 (2004:

7. Receivables and prepayments

2005 2004
‘ $ $
Accrued interest 48,321 46,885 ~
Due from affiliates 140,905 1,107,251
Due from Parent Company - 583,591
Accrued corporate finance fees 243,056 264,834
Other : 377,958 270,446
Prepayments 103,293 221,800

913,533 2,494,807

8. Property, plant and equipment

Furniture
Motor and Leasehold
Vehicles Fixtures Equipment Improvements Total
$ $ $ 5 §

Year ended

31 December 2004
‘Opening net book value 20,183 327,990 150,225 110,553 608,951
Additions 100,557 12,168 164,866 1,430. 279,021
Disposals (1,500) (2,500) °. - (4,000)
Depreciation (64,616) (58,238) (91,165) (62,982) (277,001)
Closing net book value 56,124 _ 280,420 __ 221,426 49,001 606,971
As of 31 December 2004

Cost : : 163,547 581,048 862,745 516,681 2,124,021 |

Accumulated depreciatio

(107,423) _ (300,628) — (641,319) (467,680) _ (1,517,050)



Net book value 56,124 _ 280,420 _ 221,426 49,001 606,971
Year ended .
31 December 2005
Opening net book value - 56,124 280,420 221,426 49,001 606,971
Additions ; - . 225,740 - 225,740
Disposals : : é - -
Depreciation (24,263) __ (58,569) _(104,005) ___ (42,372) __ (229,209)
Closing net book value 31,861 __221,851 __343,161 6,629 ___ 603,502
As of 31 December 2005
Cost 163,547 581,048 1,088,485. 516,681 2,349,761
Accumulated depreciation (131,686) _ (359,197) _ (745,324) (510,052) _(1,746,259)
Net book value 31,861 221,851 __ 343,161 6,629 603,502
9. Customer deposits.
- 2005 2004
$ '$
Deposits 18,603,607 8,621,572
Savings certificates ae ee ae aw 6,985,707 16,649,021
Accrued interest s iagh yar see 152,764 an 362,746

25,742,078 | 25,633,339

Average interest rates on customer deposits range from 2.5% to 6%.

10. Other liabilities and accrued expenses :
: 2004

2005—.
$ : $

Dividends payable on preference shares 37,500 12,500
Other liabilities and accrued expenses 565,086 - 517,175...
Funds held pending settlement 4,983,188 -
Due to Parent Company 426,513 Se
Due to affiliates i ‘120,199 63,168 -

| __ 6132486 _,_ 592,843

?

Funds held pending settlement represents funds received from investors, in connection with
securities offerings that were not released until after year end.
11. Maturity analysis of assets and liabilities

The relevant maturity analysis of assets and liabilities based on the remaining period at the balance
sheet date to the contractual maturity date are as follows: :

Cash on hand Loans and Customer
andatbanks advances to customers deposits
$8 : $ $

Demand ~ 14,510,447 4,388,225 = 18,756,371
0-3 months - - 3,588,868
4-6 months - “7 1,557,245
7-9 months ; : - - 965,226

. 10-12 months : - ge 459,368
Greater than 12 months - - 415,000
14,510,447 _ 4,388,225 _ 25,742,078

12. Assets and liabilities by geographical location

Significant assets and liabilities as at balance sheet date are analysed by geographical location as

follows:
Cash on hand Loans and Customer
and at banks Investments _advances to customers deposits
$ $ $e $
The Bahamas 11,321,206 14,382,441 3,984,223 21,085,579
North America 3,189,241 © 207,183 404,002 4,656,499
14,510,447 14,589,624 4,388,225 25,742,078
13. Share capital — ordinary shares :
2005 2004
Authorised : $ $
1,000,000 ordinary shares of $1.00 each
Issued and fully paid
1,000,000 ordinary shares of $1.00 each 1,000,000 1,000,000
14. Share capital - preference shares
: 2005 2004
Authorised $ $
2,000,000 preference shares of $1.00. each ‘
Issued and fully paid
2,000,000 preference shares of $1.00 each 2,000,000 2,000,000

On 1 December 2004, the Bank issued 2,000,000 cumulative redeemable non-voting preference
shares with a par value of $1.00 per share, which are redeemable at the option of the. Bank subject
to the approval of The Central Bank of The Bahamas. .

The preference shares carry a dividend rate of Bahamian Prime + 0.75%, subject to a minimum rate
of 7.50%, payable quarterly in arrears. Dividends are declared by the Board of Directors in their
sole discretion. The preference shares rank ahead of the ordinary shares in the event of liquidation.

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- PAGE 8B, THURSDAY, MAY 11, 2006

15. Related party balances and transactions

16.

17.

18.

‘19.

20.

Related parties include those entities and directors which have the ability to control or exercise
significant influence over the Bank in making financial or operational decisions, and entities that
are controlled, jointly controlled or significantly influenced by them.

The Bank engages in significant transactions with its parent and affiliated companies. Business
policies and economic decisions of the Parent Bank affect or dictate, to a substantial extent, the
Bank’s activities. Because of these relationships, it is possible that the extent and/or terms of these
transactions are not the same as those that would result from transactions among wholly unrelated
parties.

Significant balances and transactions with related parties included in the consolidated financial

statements, but not separately disclosed, are as follows: :

2005 2004
$ $
Balance Sheet
Cash on hand and at banks 689,650 156,705
Loans and advances to customers 1,036 7,402
Receivables and prepayments / 144,170 1,690,842
Customer deposits : - 46,541
Other liabilities and accrued expenses 546,712 63,168
Statement of Operations :
Interest income 34,365 152,435 -
Net realized (loss) on financial guarantee contract (295,206) (278,367)
General and other administrative expenses 180,849 229,354
Technical fees 455,148 543,483

a) Receivables and prepayments

Receivables and prepayments include amounts due from certain Directors and/or officers of
the Bank amounting to $3,265 (2004: SNil). :

b) Other liabilities and accrued expenses

Pursuant to an agreement dated 1 July 2002, the Bank and the Parent Company have entered
into a financial guarantee contract whereby the Bank would receive from the Parent
Company the amount by which the retum on its portfolio of Bahamian securities was less
than five percent (5%). In exchange for the guaranteed return of 5%, the Bank will pay to the
Parent Company fifty percent (50%) of gains on its portfolio of Bahamian securities in excess
of five percent (5%). The gain or loss on the financial guarantee contract is calculated and
accrued monthly and settled net within one month subsequent to the anniversary date of the
agreement. The agreement is automatically renewed for successive terms of one year and
may be terminated by either party giving at least six months written notice. The agreement
was terminated effective 30 June 2005. - ate 2

Realized gains and losses from the financial guarantee contract are included in the
consolidated statement of operations.

Included in other liabilities and accrued expenses is $120,199 (2004: $63,168) due to an
affiliate company. Pursuant to an informal arrangement, the Bank pays certain operational
expenses on behalf of the affiliate entity, whose principal activity includes the rental of
investment property. The arrangement is such that the Bank will offset its rental payments
owed to the affiliate against the receivable.

t

c) Technical fees

The Bank entered into an arrangement with the Parent Company, effective 1 January 2004,
under which, in exchange for corporate finance services rendered on behalf of the Bank by
employees of the Parent Company, the Bank agreed to pay the Parent Company 50% o
corporate finance fees earned by the Bank. :

d) Common sharing costs

Pursuant to an informal arrangement, the Bank’s operational expenses, which are not directly
attributable to itself or its subsidiaries, are allocated to each entity based on the Directors’
estimate of the business and operating activities of each entity.

’

Key management compensation for the year was $501,000 (2004: $461,000).

Director’s compensation for the year was $47,000 (2004: $3,196).

Pension plan

Effective 30 June 2000, the Bank established a defined contribution plan (the Plan): All persons
employed by the Bank on a full time basis are required to participate in the Plan. Assets of the
Plan are held in a separately administered fund.

The Plan is funded from both employer and employee contributions and employees become fully
vested upon completion of ten years of service.

The Bank’s pension expense for the year ended 31 December 2005 was $93,333 (2004; $53,250).
Pension costs are included in salaries and staff benefits in the consolidated statement of operations.

Commitments
i) Lease commitments

On 1 July 2005, the Bank entered into a lease agreement to rent office space on New
Providence from West Bay Development Company Limited, an affiliated company, for a
period of 5 years. The Bank also entered into a new lease agreement with Frederick Street
Properties dated 17 May 2005 for a period of two years. The Bank’s lease agreement, dated 6
January 2003, with First Commercial Centre Limited, Grand Bahama, for a period of 3 years
expires on 31 January 2006 at which time it will be leased on a month to month basis.

The future minimum rental payments required under the operating leases that have initial
non-cancellable lease terms in excess of one year as of 31 December 2005 are as follows:

-§$
2006 318,015
2007 280,759
2008 : ag 255,378
2009 255,378
2010 127,689
Total minimum payments 1,237,219
Total rental expense for the year ended 31 December 2005 totalled $275,130 (2004:

$217,172). :
fi) Loan commitments
_ As of 31 December 2005, the Bank had loan commitments of $812,082 (2004: $956,848).

Dividends per preference shares

The Board of Directors declared quarterly dividends of $0.01875 (7.5%) per share in respect of
each quarter ended 31 March 2005, 30 June 2005, 30 September 2005 and 31 December 2005.
These dividends were paid on 31 March 2005, 30 June 2005 and 30 September 2005. The 31
December 2005 dividend was paid subsequent to the year end.

2005 2004

$ $
’ Dividends payable at the beginning of the year 12,500 -
Dividends declared during the year 150,000 12,500
Dividends paid during the year (125,000) -
Dividends payable at the end of the year 37,500 12,500

Critical accounting estimates and judgements in applying accounting policies

The Bank makes estimates and assumptions that affect the. reported amounts of assets and
liabilities within the next financial year. Estimates and judgements are continually evaluated and
are based on historical experience and other factors, including expectations of future events that
are believed to be reasonable under the circumstances.

Impairment losses on loans and advances

The Bank reviews its loan portfolios to assess impairment at least on a quarterly basis. In
determining whether an impairment loss should be recorded in the statement of operations, the
Bank makes judgements as to whether there is any observable data indicating that there is a
measurable decrease in the estimated future cash flows from a portfolio of loans before the
decrease can be identified with an individual loan in that portfolio. This evidence may include
observable data indicating that there has been an adverse change in the payment status of
borrowers in a group, or national or local economic conditions that correlate with defaults on assets
in the group. Management uses estimates based'on historical loss experience for assets with credit
risk characteristics and objective evidence of impairment similar to those in the portfolio when
scheduling its future cash flows. The methodology and assumptions used for estimating both the
amount and timing of future cash flows are reviewed regularly to reduce any differences between
loss estimates and actual loss experience.

Financial risk management

Fiduciary risk

i i i i ich i i fail in carrying out
The Bank is susceptible to fiduciary risk, which is the risk that the Bank may
certain mandates in accordance with the wishes of its customers. To manage exposure, the Bank
generally takes a conservative approach in its undertakings.

Strategy in using financial instruments

their nature, the Bank’s activities are principally related to the use of financial instruments. The
Ros deposits from customers at both fixed and floating rates, and for various periods, ~
seeks to earn above-average interest margins by investing these funds in high-quality assets. The
Bank seeks to increase these margins by consolidating short-term funds and lending for longer
periods at higher rates, while maintaining sufficient liquidity to meet all claims that might fall due.

The Bank also seeks to raise its interest margins by obtaining above-average margins, net of

allowances, through lending to commercial and retail borrowers with a range of credit standing.
Such exposures involve not just on-balance sheet loans and advances; the Bank also enters into
guarantees and other commitments such as letters of credit and performance, and other bonds.



THE TRIBUNE BUSIN

Credit risk ati

The Bank takes on exposure to credit risk, which is the risk that a counterparty will be unable to
pay amounts in full when due. Impairment provisions are provided for losses that have been
incurred at the balance sheet date. Significant changes in the economy, or in the health of a
particular industry segment that represents a concentration in the Bank’s portfolio, could result in
losses that are different from those provided for at the balance sheet date. Management therefore
carefully manages its exposure to credit risk.

The Bank structures the levels of credit risk it undertakes by placing limits on the amount of risk
accepted in relation to one borrower, or groups of borrowers, and to geographical and industry
segments. Such risks are monitored on a revolving basis and subject to an annual or more frequent
review. Limits on the level of credit risk by product, industry sector and by country are‘approved
by the Board of Directors. wand:

The exposure to any one borrower including banks and brokers is further restricted by sub-limits
covering on-and off-balance sheet exposures, and daily delivery risk limits in relation’ to trading
items such as forward foreign exchange contracts. Actual exposures against limits are monitored
daily. yg ,

Exposure to credit risk is managed through regular analysis of the ability ‘of: borrowersand
potential borrowers to meet interest and capital repayment obligations and by changing these
lending limits where appropriate. Exposure to credit risk is also managed in part by. obtaining -
collateral and corporate and personal guarantees. ee ae

4 s
The Bank’s deposits and investments are placed with high credit quality financial institutions ‘and
corporations. Loans are presented net of provisions for loan losses. Whilst the majority of loans are
secured by listed securities, overdrafts advanced in the normal course of business are generally
unsecured. eh

Credit-related commitments

The primary purpose of these instruments is to ensure that funds are available to.a customer as
required. Guarantees — which represent irrevocable assurances that the Bank will make payments
in the event that a customer cannot meet its obligations to third parties — carry the same credit risk

as loans. Hiea:






Commitments to extend credit represent unused portions. of authorisations to extend it: in the
form of loans, guarantees or letters of credit. With respect to credit risk on commitments to « xtend
credit, the Bank is potentially exposed to loss in-an amount equal to the total unused ‘commitments,
However, the likely amount of loss is less than the total unused commitments, as most
commitments to extend credit are contingent upon customers maintaining specific credit standards.
The Bank monitors the term to'maturity of credit commitments because longer-term ‘commitments
generally have a greater degree of credit risk than shorter-term commitments.



Geographical concentrations of assets and liabilities

The Bank has a concentration of risk in respect of geographical ar bo
securitised assets are primarily based in New Providence and Grand Babar . 2 Pe ss



Cash flow and fair yalue interest rate risk

Cash flow interest rate risk is the risk that the future cash flows of a financial instrument will
fluctuate because of changes in market interest rates. Fair value interest rate risk is the risk that the
value of a financial instrument will fluctuate because of changes in market interest rates. The Bank
takes on exposure to the effects of fluctuations in the prevailing levels of market interest rates on
both its fair value and cash flow risks. Interest margins may increase as a result of such changes
but may reduce or create losses in the event that. unexpected movements ‘arise. ‘The’ Board séts
limits on the level of mismatch of interest rate re-pricing that may be undertaken, which is
monitored daily. : x rs

The Bank employs effective techniques and procedures to monitor and control its exposure to *
interest rate risk. Mortgage, consumer, and other loans have variable rates, linked to The
Bahamian dollar prime rate. Exposure to interest rate risk, which is mainly due to fixed rates both
its term deposits with banks and savings certificates sold to customers, is minimised by the short-
term maturities of the majority of these deposits. :

Liquidity risk

The Bank is exposed to daily calls on its available cash resources from overnight deposits, current
accounts, maturing deposits, loan draw-downs and guarantees, and from margin and other calls on
cash-settled derivatives. The Bank does not maintain cash resources to meet all of these needs, as
experience shows that a minimum level of reinvestment of maturing funds can be predicted with a
high level of certainty. The Board sets limits on the minimum proportion of maturing funds
available to meet such calls and on the minimum level of inter-bank and other borrowing facilities
that should be in place to cover withdrawals at unexpected levels of demand.

The matching and controlled mismatching of the maturities and interest rates of assets and
liabilities is fundamental to the management of the Bank. It is unusual for banks to be completely
matched, as transacted business is often of uncertain term and of different types. An unmatched
position potentially enhances profitability, but also increases the risk of losses.

‘

bearing liabilities as they mature are important factors in assessing the liquidity of the Bank and its
exposure to changes in interest rates and exchange rates. :

The maturities of assets and liabilities and the ability to replace, at an acceptable cost, interest-

Liquidity requirements to support calls under guarantees and standby letters of credit are
considerably less than the amount of the commitment because the Bank does not generally expect
the third party to draw funds under the agreement. The total outstanding contractual amount of
‘commitments to extend credit does not necessarily represent future cash requirements, as many of
these commitments will expire or terminate without being funded:

The Bank is exposed to liquidity risk through its investments in Bahamian securities and its

portfolio of loans and advances to customers, where it may not be feasible’ to liquidate or exchange

such assets for consideration that approximates carrying value. The Bank monitors this exposure
_ by maintaining sufficient investments in marketable securities, setting limits to its investments

exposure and matching the maturity of its short-term loans with shorter-term customer deposits.

The loan portfolio principally comprises medium-term margin loans, which are financed by
shorter-term customer deposits. As such, the Bank is exposed to liquidity risk, which ik
continuously monitored by management. :

Fair values of financial instruments ‘

Financial instruments utilised by the Bank include recorded assets and liabilities, ‘as well as items
that principally involve off-balance sheet risk. These financial instruments are carried at fair value
or are relatively short term.in nature and accordingly, the estimated fair values are not significantly
different from the carrying value as reported in the consolidated balance sheet. | -

21. Subsequent Event
On 1 March 2006, the Board approved the transfer, subject to the approval of the ‘Central Bank of

ae Bahamas, of the $2 million in preference shares from the existing shareholders to the Parent
ompany. é i ; : ag

PRICEWATERHOUSE(COPERS @



PricewaterhouseCoopers
Providence House
East Hill Street
P.O. Box N-3910

‘ So OSEAN Nassau! The Bahamas
Website: www.pwe.com
E-mail: pwcbs@bs.pwe.com
Telephone (242) 302-5300
Facsimile (242) 302-5350

"

INDEPENDENT AUDITORS’ REPORT
To the Shareholders of Fidelity Merchant Bank & Trust Limited

We have audited the accompanying consolidated balance sheet of Fidelity Merchant Bank & Trust Limited
and its subsidiaries (the Bank) as of 31 December 2005. This consolidated balance sheet is ‘the
responsibility of the Bank's management. Our responsibility is to express an opinion on this consolidated
balance sheet based on our audit.

We conducted our audit in accordance with International Standards on Auditing. Those Standards require
that we plan and perform the audit to obtain reasonable assurance about whether the consolidated balance
sheet is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the consolidated balance sheet. An audit also includes assessing the accounting.
principles used and significant estimates made by management, as well as evaluating the overall
consolidated balance sheet presentation. We believe that our audit provides a reasonable basis for our
opinion. ;

In our opinion, the consolidated balance sheet presents fairly, in all material respects, the consolidated
financial position of the Bank as of 31 December 2005 in accordance with International Financial Reporting
Standards.

\

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Chartered Accountants
20 April 2006

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THE TRIBUNE BUSINESS

THURSDAY, MAY 11, 2006, PAGE’ 9B

6
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Mortgages, consumer and other loans













i ts
E Fidelity Bank & Trust International Limited ’ fs
fl (incorporated under the laws of the Commonwealth of The Bahamas) Loans and receivables are non-derivative financial assets with fixed or determinable ee
i | payments that are not quoted in an active market. They arise when the Bank provides es
a Consolidated Balance Sheet - money, goods or services directly to a debtor with no intention of trading the receivable. »
ei As of 31 December 2005 rs
i (Aichints expressed la Balk dollars) Loans are stated at outstanding principal plus accrued interest less provisions fot losses. ne
: 4 amian she san The mortgage loans are secured Principally by first mortgages on single-family residences e
4 : and provide for monthly repayments at variable interest rates over periods of up to twenty- ‘1
i ASSETS five years. Other loans are secured Principally by chattel mortgages and provide for i
{| monthly repayments over periods of up to ten years. a
iz Cash on hand and at banks (Note 4) 46,460,618 71,271,114 i
i Investment securities: As soon as the recovery of a loan or advance is identified as doubtful, a provision for loan ty
i -. government securities (Note 5) 20,983,300 18,823,800 losses is established to reduce the carrying value of the loan to its estimated realizable i
i -financial assets at fair value through profit or loss (Note 5) 15,734,763 9,093,245 amount. The provision for loan losses also covers losses where there is objective evidence El
i Mortgages, consumer and other loans (Notes 6,7) 163,383,779 144,221,677 a Pi eee eee a se eorenhidated belaagersbest oe
H Receivables and prepayments 10,199,708 7,319,918 ; . mee pean .
3 Property, plant and equipment (Note 8) 11,786,660 11,807,818 (g) —_—- Non-performing assets ee
' “Goodwill (Note 10) 1,454,195 1,454,195 oe
i ».c TOTAL ASSETS 270,003,023 263,991,767 Non-performing assets include all loans on which the status of overdue payments of j ¢ ;
E sso z a eet mca, alanine principal and interest are Such that management considers it prudent to classify them to ba i
H aap non-performing status. All mortgage loans and consumer loans on which principal and y Q
i eS . interest payments are overdue by in excess of ninety days are considered by management i
4 Customer deposits (Note 11) 210,327,970 208,727,948 to be non-performing. ve
a Mortgage-backed bonds (Note 12) bs 755,543 RG
§ | _ Loans from banks (Note 13) f 3,217,285 3,219,737 When a loan is classified as non-performing, all interest previously accrued in the current te |
i "Other liabilities and a ; 20,502,977 20,785,993 year, but not collected, is reversed against current year interest income and any interest |
5 Preference shares (Note 14) ; + heo.000 accrued in prior years is charged against the provision for loan losses. Notwithstanding te a
i ae these parameters, where a customer has re-established a pattern of prompt payment, \
+5 TOTAL LIABILITIES 234,048,232 234,489,221 management may agree to reschedule arrears of loan interest and principal. Thereafter, i
ct interest income will be recognised on an accrual basis. ; B
‘i EQUITY eB
i Capital and reserve attributable to the Bank's (h) Interest income and expense recognition " ‘
4) equity holders oe
hs Share capital - ordinary shares (Note 15) 10,000,000 10,000,000 Interest income and expense are recognised in the statement of operations for all 3 i:
yl Share capital - preference shares (Note 16) 12,000,000 12,000,000 instruments measured at amortised cost using the effective interest method. i
43 eat ions : is ty
gl é ee biden 2,283,974 2,369,742 The effective interest method is a method of calculating the amortised cost of a financial ie ee
2 tained Earnings : 5,959,645 143,374 asset or a financial liability and of allocating the interest income or interest expense over ey
if - 30,243,619 24,513,116 the relevant period. The effective interest rate is the rate that exactly discounts estimated is
: alvashasez 1159 yes ADT coe future cash payments or receipts through the expected life of the financial instrument or, a
.s»- Minority Interest (Note.18) —_ 5,711,172 4,989,430 when appropriate, a shorter period: to the net carrying amount of the financial asset or ts be
, : See GHG a 35,954,791 29,502,546 financial liability. When calculating the effective intérest rate, the Bank estimates cash iy
flows considering all contractual terms of the financial instrument (for example, re
TOTAL LIABILITIES AND EQUITY 270,003,023 263,991,767 prepayments options) but does not consider future credit losses. The calculation includes rf
‘ all fees and points paid or received between parties to the contract that are an integral part he
{ / : : of the effective interest rate, transaction costs and all other premiums or discounts. i
Approved on bebalf of the Board of Directors: : Interest income and expenses are recognised on an accrual basis. The recognition of re
< ; L ope Se y, é ' ; interest income on loans is suspended when loans are in non-accrual status. Such income re
f \ Yada: Z 7 jello &... fle ag igh! i ~ is excluded from interest income until received. he
Director “Director : te
i ‘ . : ; ‘ : pit & aig “ refit ; i @) — - Offsetting financial instruments iH
e “20. April 2006... ghgintio cy : ian ty
: ‘oBfate ¢ eotat lions Tae ot weenie To desecem! toate tall nse demgentiemteons sStotianid) 9 20 aay be Financial assets and liabilities are offset and the net amount reported in the balance sheet i
: conte desing! ty : yee ; eas ee i when there is a legally enforceable right to offset the recognised amounts and there ig an We
1. Incorporation and activity ; intention to settle on a net basis, or realise the asset and settle the liability simultaneously. ' :
7 : PS
Fidelity. Bank & Trust International Limited (the Bank) is incorporated under the laws of the G) Impairment of financial assets .
Commonwealth of The Bahamas under the Companies Act, 1992, as amended. ;

Pe AAR SHENG VIE AR NR SIA HI RENE G ES ERE ARRAS ATED EDITORS

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The Bank, through its subsidiaries in The Bahamas and the Cayman Islands, offers a full range of
investment, retail banking and insurance brokerage services. The Bank has a restricted banking
_licence in The Commonwealth of The Bahamas and its primary business is that of a holding and
management company for its subsidiaries.

The registered office of the Bank is situated at #51 Frederick Street, Nassau, The Bahamas. The
number of persons employed by the Bank and its subsidiaries as of 31 December 2005 was 190
(2004:170). : ;

Summary of significant accounting policies

The principal accounting policies adopted in the preparation of the consolidated balance sheet are
set out below. These policies have been consistently applied to all years presented, unless
otherwise stated. i

(a)



©)

(d)



(qd)

Basis of preparation

The Bank’s consolidated balance sheet has been prepared in accordance with International
Financial Reporting Standards (IFRS). The consolidated balance sheet has been prepared
under the historical cost convention, as modified by the revaluation of property, plant and
“equipment, financial assets and financial liabilities held. at fair value through profit or loss.

The preparation of the consolidated balance sheet in conformity with IFRS requires the use
of certain critical accounting estimates. It also requires management to exercise its

_ Judgement in the process of applying the Bank’s accounting policies. The areas involving a
_ higher degree of judgement or complexity, or areas where assumptions and estimates are

significant to the consolidated balance sheet, is disclosed in Note 24.

Consolidation

Subsidiaries are all entities over which the Bank has the power to govern the financial and

_ Operating policies generally accompanying a shareholding of more than one half of the

voting rights. The existence and effect of potential voting rights that are currently

exercisable or convertible are considered when assessing whether the Bank controls °

another entity. Subsidiaries are fully consolidated from the date on which control is
transferred to the Bank. They are de-consolidated from the date that control ceases.

Inter-company transactions, balances and unrealised gains on transactions between group
companies are eliminated. Unrealized losses are also eliminated unless the transaction
provides evidence of impairment of the asset transferred. Accounting polices of
subsidiaries have been changed where necessary to ensure consistency with the policies

- adopted by the Bank. j

» The consolidated balance sheet includes the accounts of the Bank and its subsidiary

companies, after the elimination of all significant inter-company transactions.
Segment reporting

A business segment is a group of assets and operations engaged in providing products or

__ services that are subject to risks and returns that are different from those of other business

segments. A geographical segment is engaged in providing products or services within a
particular economic environment that are subject to risks and returns that are different from
those of segments operating in other economic environments.

Foreign currency translation
i) Functional and presentation currency

Items included in the consolidated balance sheet of the Bank are measured using the
currency of the primary economic environment in which the entity operates (‘the

_. functional currency”). The consolidated: balance sheet is presented in Bahamian
dollars, which is the Bank’s functional. and presentation currency.

ii) | Transactions and balances

Foreign currency transactions are translated into the functional currency using the
exchange rates prevailing at the date of the transactions. Foreign exchange gains and
losses resulting from the settlement of such transactions and from the translation of
monetary assets and liabilities denominated in foreign currencies are recognized in
the consolidated statement of operations. Translation differences on monetary
financial assets measured at fair value are included in foreign exchange gains and
losses.

e
Financial assets

The Bank classifies its financial assets in the following categories: financial assets, at fair
value through profit or loss and loans and receivables. Management determines the
classification of its investment at initial recognition. :

i) , Financial assets at fair value through profit or loss

’ This category has two sub-categories: financial assets held for trading, and those,
designated at fair value through profit or loss at inception. A financial asset is
classified in this category if acquired. principally for the purpose of selling in the
short term or if so designated by management.

ii) Government securities

Government securities have been designated as financial assets at fair value through
profit and loss. Government securities are carried at amortized cost which
approximates fair value.

iii) Loans and receivables

Loans and receivables are non-derivative financial assets with fixed or determinable
payments that are not quoted in an active market. They arise when the Bank provides
money, goods or services directly to a debtor with no intention of trading the

receivable.

Purchases and sales of financial assets at fair value through profit or loss are
recognized on trade-date — the date on which the Bank commits to purchase or sell
the asset. Loans are recognized-when cash is advanced to the borrowers. Financial
assets are derecognized when the rights to receive cash flows from the financial
assets have expired or where the Bank has transferred substantially all risks and

rewards of ownership.

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83 Property, plant and equipment

Assets carried at amortized cost

The Bank assesses at each balance sheet date whether there is objective evidence that a

financial asset or group of financial assets is impaired. A financial asset or a group of
financial assets is impaired and impairment losses are incurred if, and only if, there is
objective evidence of impairment as a result of one or more events that occurred after the
initial recognition of the asset (a ‘loss event’) and that loss event (or events) has an impact
on the estimated future cash flows of the financial asset or group of financial assets that
can be reliably estimated.

If there is objective evidence that an impairment'loss on loans and receivables or held-to-
maturity investments carried at amortized cost has been incurred, the amount of the loss is
measured as the difference between the asset’s carrying amount and the present value of
estimated future cash flows (excluding future credit losses that have not been incurred)
discounted at the financials asset’s original effective interest rate. The carrying amount of
the asset is reduced through the use of an allowance account and the amount of the loss is
recognized in the statement of operations. If a loan or held-to-maturity investment has a
variable interest rate, the discount-rate for measuring any impairment loss is the current
effective interest rate determined under the contract. As a practical expedient, the Bank
may measure impairment on the basis of an instrument’s fair value using an observable

market price.

JUGS aguriasads ae £



Property, plant and equipment, other than freehold premises, are carried at historical cost
less accumulated depreciation and amortization. Historical cost includes expenditure that is
directly attributable to the acquisition of the items. Freehold premises are carried at market
value based upon periodic independent appraisals, which are commissioned at intervals not
exceeding three years. Revaluation increments are shown as “Revaluation surplus” within

equity.
Land and buildings comprise mainly of branches and offices.

Subsequent costs are included in the asset’s carrying amount or are recognised as a
separate asset, as appropriate, only, when it is probable that future economic benefits
associated with the item will flow to the Bank and the cost of the item can be measured
reliably. All other repairs and maintenance are charged to the statement of operations
during the financial period in which they are incurred.

Depreciation is calculated usmg the. straight-line method to allocate their cost.to their
residual values over their estimated useful lives as, follows:

Estimated

useful life
Freehold premises 30 - 50. years
Improvements to freehold premises 3 - 10 years
Improvements to leasehold premises 3 - 10 years
Furniture and fixtures 3 - 10 years
Computer and Office Equipment . 3.- 10 years
Computer Software 3-7 years
Motor vehicles 3-5 years

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at
each balance sheet date. :

Assets that are subject to amortization are reviewed for impairment whenever events or
changes in circumstances indicate that the carrying amount may not be recoverable. An
asset’S carrying amount is written down immediately to its recoverable amount if the
asset’s carrying amount is greater than its estimated recoverable amount. The recoverable
amount is the higher of the asset’s fair value less costs to sell and value in use. A

Leases
i) | The Bank is the lessee

The leases entered into by the Bank are primarily operating leases. The total
payments made under operating leases are charged to the statement of operations on
a straight-line basis over the period of the lease.

When an operating lease is terminated before the lease period has expired, any
payment required to be made to the lessor by way of penalty is recognised as an
expense in the period in which termination takes place. ;

ii) The Bank is the lessor

Lease income is recognised over the term of the lease using the net investment
method, which reflects a constant periodic rate of return.

Mortgage-backed bonds

Costs related to the issue of the mortgage-backed bonds are amortised on a straight-line
basis over the lives of the respective bond series. Assets pledged as collateral for these
bonds are included in loans. - ;

Investment banking income

Investment banking income comprises commissions, fees and trading gains and losses.
Trading gains and losses arising from the sale of investments are recognised on the trade
date. Fees and commissions earned on the purchase and sale of securities for third parties
are recognised on the settlement date.

Insurance brokerage commissions
Insurance brokerage commissions are recognised when the risk is underwritten.
Commitment fees

Non-refundable commitment fees, varying from 1% to 1 1/2% of the loan amount, are
recognised as income over the period of the commitment upon the borrower’s payment of
the fee.

Other income

Other ious comprises principally of bank and credit card fees are recognised at the time
the customers’ account is charged.



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Goodwill

Goodwill represents the excess of the cost of an acquisition over the fair value of the
Bank’s share of the net identifiable assets of the acquired subsidiary at the date of
acquisition, Goodwill is tested annually for impairment and carried at cost less

accumulated impairment losses. Impairment losses are allocated to the cash-generating
units resulting in the goodwill.

Long-term loan

Long-term loans are recognised initially at fair value, being their issue proceeds (fair value
of consideration received) net of transaction costs incurred. Long-term loans are
subsequently stated at amortised cost; any difference between proceeds net of transaction
costs and the redemption value is recognised in the statement of operations over the period
of the borrowings using the effective interest method.

Preference shares, which carry a mandatory coupon, or are redeemable on a specific date
or at the option of the shareholder, are classified as financial liabilities and are presented in
other borrowed funds. The dividends on these preference shares are recognised in the
Statement of operations as interest expense on an amortized cost basis using the effective
interest method.

Ordinary share capital
i) Share issue costs

Incremental costs directly attributable to the issue of new shares or options or to the
acquisition of a business are shown in equity as a deduction, from the proceeds.

ii) Dividends on ordinary shares

Dividends on ordinary shares are recognised in equity in the period in which they are
approved by the Bank’s Directors.

Dividends for the year that are declared after the balance sheet date are dealt with in
the subsequent events note. :

iii) Treasury shares
Where the Bank or other members of the consolidated Group purchases the Bank’s
equity share capital, the consideration paid is deducted from total equity as treasury
shares until they are cancelled.-Where such shares are subsequently sold or reissued,
any consideration received is included in equity.

Preference share capital

Preference shares on which dividends are payable at the discretion of the Directors, have

no specific date for redemption and on which the shareholder has no option for

redemption, are classified as share capital and are presented in share capital.

i Share issue costs

Incremental costs directly attributable to the issue of new shares or options or to the
acquisition of a business are shown in equity as.a deduction, from the proceeds.

ii) Dividends on preference shares

Dividends on preference shares are recognised in equity in the period in which they
are approved by the Bank’s Directors. :

Dividends for the year that are declared after the balance sheet date are dealt with in
the subsequent events noe

Fiduciary activities

The Bank commonly acts as trustees and in other fiduciary capacities that result in the
holding or placing of assets on behalf of individuals, trusts, retirement benefit plans and
other institutions. These assets and income arising thereon are excluded from the
consolidated balance sheet, as they are not assets of the Bank.

Cash and cash equivalents

For the purpose of the consolidated. statement of cash flows, cash and cash equivalents
comprise baldnces with less than: three months’ maturity from ‘the date of acquisition,
including cash and restricted balances with The Central Bank, loans and advances to
banks, amounts due from other banks and short-term government securities.

Provisions



L AMNS AS

” Provisions: for restructuring costs and legal claims are recognised when the Bank has a

present legal or constructive obligation as a result of past events, it is more likely than not
that an outflow of resources will be required to settle the obligation and the amount has
been reliably estimated.

Employee benefits

_Pension obligations :

The Bank and its subsidiaries participate in a defined benefit and defined contribution
pension plans administered by trustees who include executives of the Bank.

The defined benefit plan is funded through payments to a trustee administered fund
determined by periodic actuarial calculations. A defined benefit plan is a pension plan that
defines an amount of pension benefit that an employee will receive on retirement, usually
dependent on one or more factors such’as age, years of service and compensation. Pied A
defined contribution plan is a pension plan under which the Bank pays fixed contributions’
into a separate entity. The Bank has no legal or constructive obligations to pay further
contributions if the fund does not hold sufficient assets to pay all employees the benefits
relating to employee service in the current and prior periods. ;

The liability recognised in the consolidated balance sheet in respect of defined benefit
pension plans is the present value of the defined benefit obligation at the balance sheet date
less the fair value of plan assets, together with adjustments for unrecognised actuarial
gains or losses and past service costs. The defined benefit obligation is calculated annually
by independent actuaries using the projected unit credit method. The present value of the
defined benefit obligation is determined by discounting the estimated future cash outflows
using interest rates of high-quality corporate bonds that are denominated in the currency in
which the benefits will be paid, and that have terms to maturity approximating to the terms

of the related pension liability.

Actuarial gains and losses arising from experience adjustments and changes in actuarial
assumptions are charged or credited to income over the employees’ expected average
remaining working lives. Past-service costs are recognised immediately in income, unless
the changes to the pension plan are conditional on the employees remaining in service for a
specified period of time (the vesting period). In this case, the past-service costs are
amortised on a straight-line basis over the vesting period.

For defined contribution plans, the Bank pays contributions to publicly or privately
administered pension plans on a mandatory, contractual or voluntary basis. The Bank has
no further payment obligations once the contributions have been paid. The contributions
are recognised as employee benefit expense when they are due. Prepaid contributions are
tecognised as an asset to the extent that a cash refund or a reduction in the future payments

is available.

Comparatives

Where necessary, comparative figures have. been adjusted to conform with changes in
presentation in the current year. The principal change relates to the preference shares
issued in 2004 in the amount of $12,000,000 which have been reclassified from liabilities
to share capital in accordance with the International Accounting Standard 32. Dividends
relating to these shares. have also:been reclassified from the consolidated‘ statement of
operations to the consolidated statement of changes in equity.

3. Subsidiary companies

a The Bank, directly or indirectly, has interest in the following entities:









a Country of %
i Incorporation Holding
as Fidelity Merchant Bank & Trust Limited
i a (FMBT) and its wholly owned subsidiaries: Bahamas 100%
a ;
i a Fidelity Capital Markets Limited (FCML) Bahamas 100%
fa Fidelity Share Registrars & Transfer Agents Limited
A x (FSRTAL); and Bahamas 100%
a Fidélity Pension & Investment Services Limited (FPISL) Bahamas 100%
ia le
a Ine Fidelity Bank (Bahamas) Limited (FBB) Bahamas 68%
Fe c West Bay Development Company Limited (West Bay) Bahamas 79%
= iin
i ta Fidelity Bank (Cayman) Limited (FBC) :
we and its wholly owned subsidiaries: ; Cayman 100%
ie ‘ Fidelity Insurance (Cayman) Limited (FIC); and Cayman 100%
eS. Fidelity Broking Company Limited (FBCT) Turks & Caicos 100%
4
H iB
fh



Mortgages
Consumer
~ and other



Investment securities

Cash and cash equivalents

Cash on hand and at banks
Mandatory reserve deposits with The Central Bank

Cash and cash equivalents are comprised of the following:

2005 2004

$ $
41,087,644 66,162,364
5,372,974 5,108,750
46,460,618 71,271,114

Mandatory reserve deposits are not available for use in the Bank’s day to day operations. Cash on
hand and balances with central banks and mandatory i

reserve deposits are. non-interest-bearing.
Other money-market placements are floating-rate assets.
Ih the prior year, cash held at banks by FBC; in the amount of approximately $27.6 million, related
to insurance claims expected to be paid out shortly after year end.

Investment securities comprise the following Bahamas Government Registered Securities:



. As of 31 December 2005, prime was 5.50%.

7 September 2025

Government securities
Interest
Rate Due Date
Prime + 0.125% 11 May 2005
Prime + 0.875% .2 December 2005 ~
Prime + 0.156% 11 May 2006
Prime + 0.938% 27 August 2006
Prime + 0.6875% 7 May 2007
Prime + 0.75% 7 May 2008
Prime + .50% 20 September 2009
. Prime + 0.3125% 21, October 2009
Prime + 1.25% 25 April 2010
Prime + 0.9375% 5 July 2011
Prime + 0.688% 24 August 2011
Prime + 0.675% 24 August.2012
Prime + .281% 25 October 2013
Primé + 1.00% 24 March 2014
Prime + .50% 8 April 2014
Prime + 0.625% 22 May 2014
Prime + 0.9375% 21 July 2014
Prime + 1.125% 15 October 2015
Prime + 0.1875% 4 December 2015
Prime + 593% _ 15 July 2016
Prime + 1.25% 15 October 2017
Prime +°0.25% 24 March 2019 “=>
Prime + 0.469% 21 July 2019
Prime + .500% 530 July 2019-2:
Prime + .15625% 22 October 2019
Prime + 468% _:25 October 2019
Balance carried forward
Government securities
Interest
Rate Due Date
Balance brought forward
Prime + 0.469% 24 November 2019
Prime + 0.5% 12 December 2019
Prime + 0.531% 26 April 2020
Prirne + 531% 30 July 2020
Prime + 0.50% 21 September 2020 -
Prime + 0.5% 25 October 2020
Prime + .21875% 29 July 2021
Prime + 0.563% 30 July 2021
Prime + 0.375% 4 December 2021
Prime + 0.5625% 12 December 2021
Prime + .25% 29 July 2022:
Prime + 0.4062% 6 September 2022 -
Prime + .25% 22 October 2022
Prime + 0.4062% 4 December 2022
Prime + 0.344% 9 February 2023
Prime + 0.375% 8 April 2023
Prime + 0.375% 21 July 2023
Prime + .28125% 29 July 2023
Prime + .28125% 22 October 2023
Prime + 0.375% 9 February 2024
Prime + .250% 28 June 2024
Prime + 0.3125% 29 July 2024
Prime + 0.313% 22 October 2024
Prime + .281% 28 June 2025
Prime + .281%

Nominal



Financial assets at fair value through profit or loss

Munual Funds:

Fidelity Bahamas Growth & Income Fund
Fidelity Bahamas Prime Income Fund

Listed securities

Fixed Income securities

Over-the-counter securities

Not quoted securities

2005 2004
Yalue Yalue Value
$ $s $s
772,700 7 772,700
2,000 2 2,000
758,800 758,800 758,800
1,000,000 1,000,000 1,000,000
100,000 100,000 _ 100,000
- 100;000 100,000. ° 100,000°
190,000 190,000 aes
"150,000 150,000 © 150,000
397,000 397,000 397,000
10,000 10,000 10,000: :
4,878,900 4,878,900 4,878:900:
2,221,100 °°. 2,221,100 2,221,100
100,000 100,000 2
129,000 129,000 129,000
200,000 200,000 :
6,500. - 6,500 6,500
1,000 1,000 1,000
- 75,000 75,000 75,000
90,000 90,000 90,000 ~
200,000 200,000 a ofibe
50,000 50,000 50,000
“*110,000°°~ 110,000 110,000
_ 138,700 138,700 138,700
‘100,000 100,000 :
29,700 29,700 -
100,000 100,000 :
11,135,700 10,990,700
Nominal 2005 2004
Value Value Value
$ $ $
11,135,700 10,990,700
500,000 500,000 500,000
469,700 469,700 469,700
334,500 334,500 334,500
100,000 100,000 -
407,400 407,400 407,400
155,000 155,000 55,000
185,200 185,200 -
1,550,000 1,550,000 1,550,000
100,000 100,000 100,000
12,000 12,000 12,000
5,200 5,200 ee
10,000 10,000 10,000
34,000 34,000 -
100,000 100,000 . 100,000
1,456,800 1,456,800 1,456,800
908,900 908,900 898,500
878,800 878,800 878,800
10,400 10,400 :
23,800 23,800 fans s
505,700 505,700 514,700
477,400 477,400 eee
390,000 390,000 394,500
151,200 151,200 151,200
972,500 972,500 -
109,100 109,100 a
20,983,300 18,823,800. -
2005 2004
Market Market
$ 2S
9,913,322 -
254,622 -
3,147,140 7,670,636
2,295,713 1,105,916
; 6,270 135,385
117,696 181,308
15,734,763 9,093,245



Included in investment banking fees and commissions in the consolidated statement of operations
are realized gains/(losses)-on sale of financial assets at fair value through profit or loss of $589,711
(2004: ($17,934)) and net change in unrealized appreciation in financial assets at fair value throug)

profit or loss of $937,855 (2004: $776,292).

Mortgages, consumer and other loans

‘ Period to Maturity ; Reet

Under
one year

$

7,919,032

13,818,654

Within two Within six Over ten
tofiye years totenyears'.. years
$ $ $
8,415,659 26,294,324 94,219,397
11,869,668 3,412,010 1,008,311
20,285,327 29,706,334 95,227,708

Provision for loan losses

Balance at 1 January

Provision for the year 4 i

Write-off during year against fully provided accounts
' Wripten back during the year :

Recoveries

Balance at 31 December

Non-performing loans

The movements in provision for loan losses during the year are as follows:

2005
$
136,848,412

30,108,643

166,957,055

* 4(3,573,276)-

163,383,779

2005
$

3,089,024
$62,892
» (90,054)
(344,880)
356,294
3,573,276

Average interest rates on mortgages, consumer and other loans range from 7.5% to 16%.

Total non-performing loans at 31 December 2005 are $6,232,953 (2004: $6,884,169).

Total
2004
S ,

122,792,525
24,518,176
147,310,701

(3,089,024)

2004

$
2,949,405
744,373
(744,172)

139,418
3,089,024

Included in the balance of $3,573,276 (2004: $3,089,024) is a specific loan loss reserve of ~
$1,434,242 (2004: $1,122,221). The provision for loan losses represents 2.14% (2004: 2.10%) of
the total loan portfolio and 57.33% (2004: 44.87%) of total non-performing loans.

At 31 December 2005, $Nil (2004: $1,578,893) of the above mortgage loans were pledged as
collateral in connection with the FBB’s mortgage-backed bonds programme (see Note 12).

At 31 December 2005, the Bank had extended certain mortgage loans guaranteed by the
Government of the Cayman Islands totalling $268,876 (2004: $523,428) for which payments were
past due in excess of 90 days. Management does not currently consider these loans as non-
performing.





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THE TRIBUNE BUSINESS

ad ai

< 8. Property, plant and equipment

x Computer

‘ Software

% Land Furniture Motor & Office Leasehold

¢ & Buildings Fixtures Vehicles © Equipment Improvements Total

f

4, Year ended 31 December 2004. _- —- -..— ---- ~~ ee :

4

ix Opening value 9,038,542 1,053,203 24,859 909,006 1,248,258 12,273,868
se Revaluation > - - i , -

" Additions = 280,593 114,552 332,540 162,394 890,079
ie Disposals (net) ees (8,478) (3,273) (2,500) - (14,251)
if Depreciation charge __(269,907) __(247,574) __(67,652) __ (522,945) (233,800) (1,341,878)
Closing value 8,768,635. 1,077,744 68,486 716,101 1,176,852 11,807,818

4,

{ At 31 December 2004
; : Cost or Valuation 10,337,060 3,441,606 330,798 7,981,895 3,917,346 26,008,705
re Accumulated

: depreciation (1,568,425) (2,363,862) (262,312) _ (7,265,794) (2,740,494) (14,200,887)

‘ Net book value 8,768,635 1,077,744 68,486 716,101 1,176,852 11,807,818

4 Computer

p Software

k Land Furniture Motor & Office Leasehold

4 & Buildings & Fixtures Vehicles Equipment Improvements — Total

{ Year ended 31 December 2005

; Opening value 8,768,635 . 1,077,744 68,486 716,101 1,176,852 11,807,818

‘ Revaluation - - - - : e ‘

; Additions - 263,528 17,000 705,506 77,915 1,063,949
Disposals (net) - (6,338) - * — (5,862) - (12,200)
Depreciation charge (269,907) (340,712) (30,462) (231,079) (200,747) (1,072,907) _
Net book value. __ 3,498,728 994,222 55,024 1,184,666 "1,054,020 11,786,660
At 31 December 2005
Cost or Valuation 10,337,060. 3,698,796. 347,798 8,681,539 3,995,261 27,060,454
Accumulated : eae :
depreciation (1,838,332) oe (2,704,574) (292,774) (7,496,873) Bas (2,941,241) (15,273,794)





Net book value.

“8,498,728 ~~ 994,222" 55,024. -15184,666 "1,054,020 11,786,660

Land and buildings include revaluation increments totalling $2;283,974 (2004:$2,369,742).

. Geographic information

Principally all of the Bank’s Operations are carried out in the Bahamas and the Cayman Islands.

Net. Income/(Loss) ‘a Assets Employed

(o00'sy Ns (000’s) Ws 6053) (000’s).
Bahamas - 3,076 264 =~ :*:179,812 162,637
Cayman oe 4,490 2,220 90,191 101,355
Total 7,566 2,484 270,003. re

10.

il.

‘12.

13.

14,

Goodwill .

” Goodwill represents the premium paid, over and above.total net asset value, by the Bank on the

purchase of 100% of the outstanding ordinary shares of both FBB and FBC.

Goodwill has been calculated as follows:

2005 2004
Balance 1 January 1,454,195 1,454,195
Amortisation - e
Balance at 31 December | 1,454,195 1,454,195
Customer deposits: cata
The maturities of customer deposits are as follows:
Within} year Within 5 years 2005 2004
. $ $ $ $
Demand deposits 80,575,803 80,575,803 55,588,529
Savings certificates 83,325,291. 44,848,906 128,174,197 152,554,388
Accrued interest E ’ 1,577,970 585,031

Balance.as of 31 December 163,901,094 44,848,906 210,327,970 208,727,948.

Average interest rates on customer deposits range from 2.5% to 6%.
Mortgage-backed bonds _ \

Mortgage-backed bonds are summarised as follows:

is Maturity Date Amount issued and outstanding

2005 2004
; $ $
Series G-3-A, Authorised d , ;
$4,000,000 Prime - .25% 2005 ae 155,040
Series G-3-C, Authorised : ;
$4;000;000 Prime 2005 : - 600,000. ..
Accrued interest i 393
Total... 3 7 755,543

On J, December 1998, the Bank transferred approximately 250 of its.first-legal mortgages having an
aggregate unpaid principal balance of approximately $20.8 million to a trust in exchange for
mortgage-backéd bonds representing. an un-divided interest in'the trust. Thése bonds, which were
redeemable at the option of the Bank, were issued to the public at par and had maturity dates that
extend to 1 December 2005. The Bank was required to maintain the value of the trust at a value
equal to or greater than the outstanding principal amount of the bonds. The proceeds from the
issuance of the bonds were used by the Bank to make new loans to its customers and for liquidity
purposes. The bonds matured on 1 December 2005 and were paid off in full. These bonds were
secured by certain mortgage loans which had an ageregate unpaid principal amount of $1,578,893
in 2004. An independent trustee administered .the mortgage-backed bond portfolio.

Loans from banks

2005 2004

$ $
Balance due on short-term loan 2,717,285 2,519,737
Balance due on long-term loan : 500,000 700,000
Total 3977 285 3,219,737

The short-term ‘oan represents the balance drawn down against a $3 million line of credit
advanced to the Bank from a ccmmercial bank. The loan bears interest at B$ prime + 1.5%, is
secured by a charge over 6,600,000 (2004: 6,600,000) ordinary shares of FBB, and is repayable on
demand.

The long-term loan represents the balance due under a mortgage loan, in the initial amount of
US$2,000,000 that was advanced to West Bay in April 1998 to facilitate the purchase of a Nassau-
based property. The loan is secured by a first mortgage over the property owned by West Bay,
bears interest at 3 month LIBOR + 1 1/2% and is repayable over a ten year period in 40 equal
quarterly payments of $50,000, plus any interest accrued at the date of each payment.

Preference Shares

1005 “9004

$ '$
Issued & fully paid -
Class C preference shares of $0.10 each at a
premium of $0.90 per share - 1,000,000

On 4 May 1995, the Bank issued 5,000,000 Class C_ preference shares of par value B$0.10 each
with a premium of $0.90 each. The preference shares ‘vere cumulative, redeemable and non-
voting. The Class C preference shares were all owned by third parties and dividends were payable
semi-annually in arrears at the rate of 0.75% above the Bahamian prime rate. The Class C
preference shares, including a proportional share of the related share premium, were redeemable in
five equal annual instalments. The first, second, third and fourth redemptions of B$1,000,000 each
were paid on 4 May 2001, 4 May 2002, 4 May 2003 and 4 May 2004, respectively and the last
redemption of B$1,000,000 was completed on 4 May 2005.



15.

16.

17.

18.

19.

20.

THURSDAY, MAY 11, 2006, PAGE 1B"

Dividends paid on the Class C preference shares and the FBB preference share for the period
amounted to $21,863 (2004: $503,318).

2,000,000 Class B, cumulative, redeemable voting preference shares of par value $0.10 each fav:
been authorised but no Class B preference shares have been issued. - :

Share capital — ordinary shies

2005 2004

, 5 $
Share capital - ordinary shares
Authorised
5,000,000 ordinary shares of $0.10 each a 500,000 500,000
—_—— ee

Issued and fully paid | .
3,432,099 ordinary shares of $0.10 each 343,210 343,210
Share premium
1,000,000 ordinary shares at a premium

of $4.90 per share 4,900,000 — 4,900,000

2,432,099 ordinary shares at an average

premium of $1.96 per share 4,756,790 4,756,790

9,656,790

9,656,790
Total share capital - ordinary shares __ 10,000,000 ___10,000,000
Share capital - preference shares wee
2005 - 2004
. : a } $
Issued & fully paid e
FMBT . :
2,000,000 cumulative redeemable preference shares ,
of $1.00 each 2,000,000 2,000,000
FBB
10,000,000 ‘cumulative redeemable preference shares a . j
of $1.00 each : 10,000,000 10,000,000
Total share capital - preference shares 12,000,000 12,000,000

New FMBT cumulative, redeemable, and non-voting preference. shares totalling $2,000,000 were
issued on 1 December 2004. The new preference shares are redeemable at the option of FMBT,
have no shareholder option for redemption and redemption by FMBT is subject to the approval of
The Central Bank of The Bahamas. Dividends are payable quarterly in arrears, at the: sole
discretion of the Directors of FMBT, at the annual rate of the greater: of 0.75% above Prime and
7.50%. The FMBT preference sharés rank ahead of the ordinary shares in the event of liquidation.

New FBB cumulative, redeemable, and non-voting preference shares totalling $10,000,000 were
issued on 12 October 2004. The new preference shares are redeemable at the option of FBB, have

‘no shareholder option for redemption and redemption by FBB is subject to the approval of The

Central Bank of The Bahamas. Dividends are payable quarterly in arrears, at the sole discretion of
the Directors of FBB, at the annual rate of the greater of 0.75% above Prime and 7.50%. The FBB
preference shares rank ahead of the ordinary shares in the event of liquidation.

Related party transactions

Loans and deposit accounts with directors and officers amounted to $1,232,738 (2004: $1,133,112)
and $873,076 (2004: $1,148,536), respectively., : ae
Key management compensation for the year was $1,234,994 (2004:$1,179,985). a

Director's compensation for the year was $169,500 (2004: $48,363). :

Included in receivables and prepayments is a balance of $501,286 relating toan advance made toa

shareholder of the Bank against the shares held in the Bank by-the shareholder. The full amount of

$501,286 has been guaranteed by a Director of FBC. ; ,

Minority interest

Minority interest is calculated based on its 32% shareholding in FBB.and is comprised as follows:

2005. “2004
me) 2 $
Balance at 1 January ae 4,989,430 «> 4,849,320
Minority’s share of FBB’s net income §__ 935,337... 349,791
Minority's share of revaluation surplus : rae 3,914 -
- $,924,767 5,203,025
Less: , : ;
Minority’s share of amortisation of goodwill ;
relating to FBB i eat ee
Dividends paid to minority shareholders (213,595) ___. 213,595)
Balance at 31 December STAT 4,989,430

Commitments
Loan commitments

“At 31 December 2005, commitments for mortgage and other loans amounted to $8,355,501 (2004;
$6,478,673). ae

Lines of credits

FBC has arranged a line of credit of $2,400,000 with another financial institution operating in the

Cayman Islands. This facility is secured by a charge over certain of the Bank's land and buildings

and-was unused as of 31 December 2005. This facility is renewable annually on April 30.

FBB has pledged $3,000,000 (2004: $3,000,000) of Bahamas Government registered stock to
secure the overdraft facility with another Bahamianicommercial bank. The facility bears interest at
0.5% above Prime up to $1 million‘and 1.25% above Prime for amounts in excess of $1 million
with a stand by fee of 0.25% on any unused portion of the facility.

‘Unused lines of credit with commercial. banks amounted to $5,682,715 at 31 December 2005

(2004: $5,880,263).

Operating lease commitments

The future minimum rental payments required under operating leases that have initial or remaining
non-cancellable lease terms in excess of one year as of 31 December 2005 are as:follows:

<
2006 823,567.
2007 : $89,002
2008 544,242
2009 $35,026
2010 ____ 127,689
Total 2,619,526

Contingent Liabilities

Love Estates: In 1988, FBB loaned the developer of Love Estates certain sums of money and also
joined in as surety for various performance bonds aggregating $3,328,043 in favor of the Ministry
of Public Works. The loans and the bonds were secured by a first legal mortgage over the unsold
lots in the subdivision. The works under the bonds were to have been completed within 36
months. The developer defaulted under the mortgage with FBB. Through the years, FBB has been
" jn discussion with the Ministry of Public Works’and various prospective purchasers. In 2001, the
Ministry obtained a judgement against the developer and FBB for the amount of the bonds.

FBB is being sued for specific performance and damages:in connection with’a sale agreement dated
24 September 1997 in respect of the Love Estates property. As all conditions of the sale agreement
have still not been met, and in order to resolve this long outstanding matter, FBB entered into a
Deed of Settlement (“Deed”) with Rolling Hills Development Corporation Limited (“Rolling
Hills”) in April'2005. Under the Deed, Rolling Hills will assume liability for the installation of the
infrastructure in Phase One and Phase Two of the Love Estates Subdivision and enter into

performance bonds, in a form agreed by the Ministry of Works, to guarantee Rolling Hills .

installation of the infrastructure and enable FBB to have the performance ‘bonds entered into
between FBB and the Ministry of Works, dated 30 May 1988, cancelled.

In exchange for Rolling Hills entering into the above noted performance bonds, FBB agreed to pay *

settlement costs totaling $350,000 to Rolling Hills which were expensed in 2004. Should Rolling
Hills not enter into the performance bonds, in a form agreed by the Ministry of Works, the Deed
will become void as if it never existed. FBB and Rolling Hills:are still in the process of obtaining
all documents required under the Deed of Settlement. It is’ anticipated that. all outstanding
documentation issues will be resolved in 2006 and that the associated sale of the Love Estates
property will be completed without any further loss to FBB. kes












PAGE 12B, THURSDAY, MAY 11, 2006

21.

22.

23.

Other: The Bank is also involved in various other legal proceedings covering a range of matters
that arise in the ordinary course of business activities. Management is of the view that no
significant loss will arise as a result of these proceedings.

Pension plan

The Bank and its subsidiaries participate in a defined benefit and defined contribution pension
plans (the “Plans”) administered by trustees who include executives of the Bank.

Effective 15 October 2005, FBB terminated its participation in the British American Bank
Employees’ Pension Plan (“BAB Plan”), a defined benefit pension plan in which the employees
previously participated, and adopted the Fidelity Merchant Bank & Trust Limited Employees
Pension Plan (the “Plan”). Under the Plans, all employees contribute 5% of gross salary and the
Bank matches employee contributions up to 5% of the gross salary. Employees of the Bank
participate in a separately administered defined benefit plan (the “FBT plan”).

*

On termination of the BAB Plan, the amount payable to each participant in the BAB Plan was the
greater of the actuarial equivalent of the participant’s accrued benefit and the participant's
contributions accumulated with interest. All BAB Plan participants were given the option of
receiving the full amount payable to them in cash or having such amount transferred to the Plan. As
at 15 October 2005, FBB’s independent actuary determined that the net BAB Plan assets,
amounting to $2,942,883, exceeded the BAB Plan liabilities of $1,619,759 by $1,323,124. This net
amount of $1,323,124 has been credited to income and is included in the statement of operations.
As at 31 December 2005, an amount of $495,816 remained receivable from the BAB Plan.

The Bank’s pension expense for the year ended 31 December 2005 for defined contribution and
benefit plans was $436,919 (2004: $286,289). .

The amounts recognized in the consolidated balance sheet for the defined benefit plans were
determined as follows: ;

2005 2004

$ $

Present value of funded obligations 1,303,592 3,281,830
Fair value of plan assets __(1,286,501) _ (3,541,789
Deficit/(Excess) of plan assets over benefit obligation 17,091 (259,959)
Unrecognised actuarial (losses) (139,481) (83,374)
(Asset) recognised in the consolidated balance sheet (122,390) ___ (343,333)

The latest actuarial valuations of the FBT plan were carried out as at 31 December 2005. The
liability for defined benefit obligations comprises:

movements in the net (asset)/liability recognised in the consolidated balance sheet are as follows:

2005 2004

$ $

Net (asset) at beginning of the year (29,946) (339,657)
Expense recognised in the consolidated statement of operations 54,901 115,848
Contributions received (147,345) 119,524
(Asset) recognised in the consolidated balance sheet (122,390) (343,333)
74,026 328,426

The actual return on Plan assets is as follows:

The expense recognised in the consolidated statement of operations is included in general and
administrative expenses and comprises: - ;

2005 2004
$ $
Current service costs 50,468 129,265
Interest on obligation 74,315 187,148
Expected return on plan assets (74,026) (200,565)

Net actuarial loss recognized during the year 4,144 . :

Expense recognised in the consolidated statement of operations 54,901 115,848

The principal actuarial assumptions (expressed as weighted averages) at the consolidated balance
sheet date were: 4

2005 2004
Discount rate at 31 December 6.50% 6.50%
Expected return on Plan assets at 31 December 6.50% 6.50%
Future salaries increases 5.50% 5.50%
Proportion of employees opting for early retirement 4.00% 4.00%
Earnings per share
‘ 2005 2004
Net income to Equity Holders ofthe Bank - $ 6,630,503 $ 2,134,249

Less: Dividends on preference shares
classified as equity

$ (900,000) $ (157,992)

Net income available to ordinary shareholders 5,730,503 1,976,257
Divided by: Weighted average of ordinary

shares outstanding 3,432,099 3,432,099
Earnings per share $ 1.67 : $ 0.58

Preference share dividends”

The Board of Directors, of each of FBB and FMBT, declared quarterly dividends of $0.1875
(7.5%) per. share in respect of each quarter ended 31. March 2005, 30 June 2005, 30 September
2005 and 31 December 2005. These dividends were paid on 31 March 2005, 30 June 2005 and 30
September 2005. The 31 December 2005 dividend was paid subsequent to the year end.

2005 ; 2004

: . $ é $

Dividends payable at the beginning of year -157,992 -
Dividends declared during the year 900,000 157,992
Dividends paid during the year (832,992) :

Dividends payable at the end of the year | 225,000 157,992

24. Critical accounting estimates and judgements in applying accounting policies

25.

The Bank makes estimates and assumptions that affect the reported amounts of assets and

liabilities within the next financial year. Estimates and judgements are continually evaluated and .

are based on historical experience and other factors, including expectations of future events that are
believed to be reasonable under the circumstances. :

Impairment losses on loans and advances

The Bank reviews its loan portfolios to assess. impairment. at least on a quarterly basis. In
determining whether an impairment loss should be recorded in the statement of operations, the
Bank makes judgements as to whether there is any observable data indicating that there is a
measurable decrease in the estimated future cash flows from a portfolio of loans before the
decrease can be identified with an individual loan in that portfolio.

This evidence may include observable data indicating that there has been an adverse change in the
payment status of borrowers in a group, or national or local economic conditions that correlate
with defaults on assets in the group. Management uses estimates based on historical loss
experience for assets with credit risk characteristics and objective evidence of impairment similar
to those in the portfolio when scheduling its future cash flows. The methodology and assumptions
used for estimating both the amount and timing of future cash flows are reviewed regularly to
reduce any differences between loss estimates and actual loss experience.

Financial risk management
Strategy in using financial instruments

By their nature, the Bank’s activities are principally related to the use of financial instruments. The
Bank accepts deposits from customers at both fixed and floating rates, and for various periods, and
seeks to earn above-average interest margins by investing these funds in high-quality assets. The
Bank seeks to increase these margins by consolidating short-term funds and lending for longer
periods at higher rates, while maintaining sufficient liquidity to meet all claims that might fall due.

The Bank also seeks to raise its interest margins by obtaining above-average margins, net of
allowances, through lending to commercial and retail borrowe.s with a range of credit standing.
Such exposures involve not just on-balance sheet loans and advances; the Bank also enters into
guarantees and other commitments such as letters of credit and performance, and other bonds.

Credit risk

The Bank takes on exposure to credit risk, which is the risk that a counterparty will be unable to
pay amounts in full when due. Impairment provisions are provided for losses that have been
incurred at the balance sheet date. Significant changes in the economy, or in the health of a
particular industry segment that represents a concentration in the Bank’s portfolio, could result in
losses that are different from those provided for at the balance sheet date. Management therefore
carefully manages its exposure to credit risk.

The Bank structures the levels of credit risk it undertakes by placing limits on the amount of risk

. accepted in relation to one borrower, or groups of borrowers, and to geographical and industry

segments. Such risks are monitored on a revolving basis and subject to an annual or more frequent
review. Limits on the level of credit risk by product, industry sector and by country are approved
by the Board of Directors.

The exposure to any one borrower including banks and brokers is further restricted by sub-limits
covering on- and off-balance sheet exposures, and daily delivery risk limits in relation to trading
items such as forward foreign exchange contracts. Actual exposures against limits are monitored
daily. . :

b



THE TRIBUNE BUSINESS

Exposure to credit risk is managed through regular analysis of the ability of borrowers and
potential borrowers to meet interest and capital repayment obligations and by changing these
lending limits where appropriate. Exposure to credit risk is also managed in part by obtaining
collateral and corporate and personal guarantees.

The Bank’s deposits and investments are placed with high credit quality financial institutions and
corporations. Mortgage, consumer and other loans are presented net of provisions for loan losses.
Whilst the majority of loans are secured by first mortgages upon family residences or by chattel

mortgages, overdrafts advanced in the normal course of business are generally unsecured. -

Credit-related commitments -

The primary purpose of these instruments is to ensure that funds are available to a customer as
Tequired. Guarantees — which represent irrevogable assurances that the Bank will make payments in

the event that a customer cannot meet its obligations to third parties — carry the same credit risk as
loans. : 4

Commitments to extend credit represent unused portions of authorisations to extend credit in the
form of loans, guarantees or letters of credit. With respect to credit risk on commitments to extend
credit, the Bank is potentially exposed to loss in‘an amount equal to the total unused commitments,
However, the likely amount of loss is less than the total unused commitments, as most
commitments to extend credit are contingent upon customers maintaining specific credit standards.
The Bank monitors the term to maturity of credit commitments because longer-term commitments
generally have a greater degree of credit risk than shorter-term commitments. ne tats

Geographical concentrations of assets and liabilities

Accordingly, the Bank has a concentration of risk in respect of geographical area, as both customer
and securitised assets are primarily based in The Bahamas and the Cayman Islands.

Cash flow and fair value interest rate risk

Cash flow interest rate risk is the risk that the future cash flows of a financial instrument will
fluctuate because of changes in market interest rates. Fair value interest rate risk is the risk that the
value of a financial instrument will fluctuate because of changes in market interest rates. The Bank
takes on exposure to the effects of fluctuations in the prevailing levels of market interest rates on
both its fair value and cash flow risks. Interest margins may increase as a result of such changes but
may reduce or create losses in the event that unexpected movements arise. The Board sets limits on
the level pf mismatch of interest rate re-pricing that may be undertaken, which is monitored daily.

. The Bank employs effective techniques and procedures to monitor and control its exposure to

26.

_ PRICEWATERHOUSE(COPERS

interest rate risk. Mortgage, consumer, and other loans generally have variable rates, linked to the

relevant dollar prime rate. Exposure to interest rate risk, which is mainly due to fixed rates both its
term deposits with banks and savings certificates sold to customers, is minimised by the short-term
maturities of the majority of these deposits. .

Liquidity risk

The Bank-is exposed to daily calls on its available cash resources from overnight deposits, current
accounts, maturing deposits, loan draw-downs and guarantees, and from margin and other calls on
cash-settled derivatives. The Bank does not maintain cash resources to meet all of these needs, as _
experience shows that a minimum level of reinvestment of maturing funds can be predicted with a
high level of certainty. The Board sets limits on the minimum proportion of maturing funds
available to meet such calls and on the minimum level of inter-bank and other borrowing facilities
that should be in place to cover withdrawals at unexpected levels of demand.

The matching and controlled mismatching of the maturities and interest rates of assets and
liabilities is fundamental to the management of the Bank. It is unusual for banks to be completely
matched, as. transacted business is often of uncertain term and of different types. An unmatched .
position potentially enhances profitability, but also increases the risk of losses. ;

The maturities of assets and liabilities and the ability to replace, at ‘an acceptable cost, interest-
bearing liabilities as they mature are important factors in assessing the liquidity of the Bank and its
exposure to changes in interest rates and exchange rates.

Liquidity requirements to support calls under guarantees and standby letters of credit are
considerably less than the amount of the commitment because the Bank does not generally expect
the third party to draw funds under the agreement. The total outstanding contractual amount of
commitments to extend credit does not necessarily represent future cash requirements, as many of
these commitments will expire or terminate without being funded.

The loan portfolio principally comprises long-term mortgage loans, which are financed by shorter-

term customer deposits. As such, the Bank is exposed to liquidity risk, which is continuously
monitored by management. ; Seri onecneamee

Fiduciary risk

” The Bank is susceptible to fiduciary risk, which is the risk that the Bank may fail in carrying out
certain mandates in accordance with the wishes ofits clients. To manage exposure, the Bank takes

a conservative approach in its undertakings.

Fair values of financial instruments

‘Financial instruments utilised by the Bank include recorded assets and liabilities, as well as items
that principally involve off-balance sheet risk. These financial instruments are carried at fair value
or are relatively short-term in nature and accordingly, the estimated fair values are not significantly
different from the carrying value as reported in the consolidated balance sheet. e

Subsequent Events

On 1 March 2006, the Board of Directors of

the Bank ; :
approval of the Central Bank of The Bahamas: < Spproved fe following subject to the

i) The issuance by the Bank of $12 million in preference shares to a related party.
These new preference shares, which are cumulative, redeemable, and non-voting,
redeemable at the option of the Bank, have ne shareholder option for redemption and
redemption by the Bank is subject to the approval of The Central Bank of The
Bahamas. Dividends are payable quarterly in arrears, at the sole discretion of the

ae of the Bank, at the annual rate of the greater of 0.75% above Prime and
. 05 .

. fi) The purchase by the Bank of the existing $10 million in FBB preference shares and

the existing $2. million in FMBT preference shares id
conditions; P , Shares under. the same terms and

PricewaterhouseCoopers
Providence House

East Hill Street ..

P.O. Box N-3910

Nassau, The Bahamas
Website: www.pwe.com

E-mail: pwebs@bs.pwe.com

Telephone (242) 302-5300
Facsimile (242) 302-5350

INDEPENDENT AUDITORS’ REPORT
To the Shareholders of Fidelity Bank & Trust International Limited

We have audited the accompanying consolidated balance sheet of Fidelity Bank & Trust International
Limited and its subsidiaries (the Bank) as of 31 December 2005. This consolidated balance sheet is the
responsibility of the Bank's management. Our responsibility is to express an opinion on this consolidated
balance sheet based on our audit.

We condusted our audit in accordance with International Standards on Auditing. Those Standards require
that we plan and perform the audit to obtain reasonable assurance about whether the consolidated balance
sheet is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the consolidated balance sheet. An audit also includes assessing the accounting
Principles used and significant estimates made by management, as well as evaluating the overall
consolidated balance sheet presentation. We believe that our audit provides a reasonable basis for our
opinion.

In our opinion, the consolidated balance sheet presents fairly, in all material respects, the consolidated

financial position of the Bank as of 31 December 2005 in accordance with International Financial Reporting
Standards. 4
!

(allege

Chartered Accountants
20 April 2006



4 i


THE TRIBUNE BUSINESS THURSDAY, MAY 11, 2006, PAGE 1.3B

ee ee " ae

ae
ae

PRICEWATERHOUSE( COPERS J

PricewsterhouseCoopers a.
Av. Francisco Matarazzo, 1400 . a
Torre Torino ae
Caixa Postal 61005 |.
05001-903 Séo Paulo, SP - Brasit “Se
‘Telefone (11) 3674-2000

Report of Independent Auditors me Se Cornet

Ws Beale

To the Board of Directors and Stockholders i
Banco Ital BBA S.A. 2

ee a ee ee ee ee ee ee

41 We have audited the accompanying balance sheet of Banco Itat BBA S.A. as of
December 31, 2005, and the related statements of income, of changes in stockholders’
equity and of changes In financial position for the year and the six-month period then’
ended. These financial statements are the responsibility of the Bank's management. Our
responsibility Is to express an opinion on these financial:statements.

2 We conducted our audit in accordance with approved Brazilian auditing standards, which
require that we perform the audit to obtain reasonable assurance about whether the \ cy ee
financial statements are fairly presented in all material respects. Accordingly, our work isi

included, among other procedures: (a) planning our audit taking into consideration the ~ «
significance of balances, the volume of transactions and the accounting and Internal Bs
control systems of the Bank, (b) examining, on a test basis, evidence and records

supporting the amounts and disclosures in the-financial-statements, and (c) assessing the :
accounting practices used and significant estimates made by management, as well as

evaluating the overall financial statement presentation,

3 In our opinion, the financial statements audited by us present fairly, in all material
respects, the financial position of Banco Itau BBA S.A. at December 31, 2005 and the
Tesults of its operations, the changes in stockholders' equity and the changes in its



€
©

4 financial position for the year and the six-month period then ended, in accordance with

a accounting practices adopted in Brazil. é xe

y % : é ¥.8
‘ ; 4 As mentioned in Note 2, the financial statements are not being presented in a comparative e
ay form with the financial statements at December 31, 2004 due to the corporate ey
9 . : reorganization, as prescribed by item | of article 9 of the Central Bank of Brazil (BACEN) a 4

if : u Circular 3017/00. This corporate reorganization was approved by the Central Bank of ve

«eB . Brazil during 2005. ah
i , aA

4 S4o Paulo, February 14, 2006. ~ eb





tease Di lacrice Contd









‘ie
: |
Auditores Independentes #)
CRC 2SP000160/0-5 u
i fhe sco ho didorand g To as. orb ne , ie
¢ ay gif ait alliont Wie s (A free translation of the original in Portuguese) ey
vt Ree Gin oa BANCO ITAU.BBA S.A. ie
2 cd “Tee BALANCE SHEET AT DECEMBER 31, 2005 e ie
vend 31s - An thousands of reais ee
reef a cabal? Be My i ie
Ra are er , ASSETS _ .. yes ap hy ' LIABILITIES k
” KI
iM . >
ft vite BG : CURRENT ASSETS . « CURRENT LIABILITIES
- é : We n 4 - Gash and banks 116.505 s Deposits

































































































Banco Itau BBA S.A. develops its businesses within a wholesale bank, structure, directed towards the attendance of
customers.

2. PRESENTATION OF THE FINANCIAL STATEMENTS

fe staged nige Demand deposits .... 78.807
(interbank investments i Interbank deposits ... 9.720.803 : ee
Investments in the open market 1.594.456 - Time deposits ... 3.540.792 q
Interbank deposits 7.326.983 £ Other deposits .. 1.470 i
8.021.439 {, 13.341.872
Securities and derivative financial instruments Securities sold under repurchase agreements
Own PorttOtio -..-vseesseeeeeerseeseis 2.443.852 Own portfolio so... 988.759
Subject to repurchase agreements . 1.081.442. Third-party portfolio ie 629.270
_ Restricted to Central,Bank of Brazil 24.173 1.648.029"
Traditg securities given in guarantee 386.247 ° ' :
Derivative financial instruments ... 2.179.626 Funds from acceptances and issue of securities - issue of securities abroad ...... 49.574
6.115.340 : 4
Interdepartmental accounts = funds in transit - third parties ... 261.156
, Interbank accounts - : é
Deposits with Central Bank of Brazil . 9.437 Borrowings and onlendings . : . tw
Correspondents ........ccsecesceteeecneees 64.210 Local borrowings - other institutions ... 1.457 &
: , 73.647 Foreign borrowings 2.440.423 >
: Local onlendings - official institutions - B 1
Loan and other credit operations a ‘ National Bank for Economic and Social Development (BNDES) . 600.374
Operations with credit assignment characteristics . 8.735.249 Local onlendings - official institutions -
Allowance for loan losses : (240.186) ’ Government Agency for Machinery and Equipment Financing (FINAME) .... 269.975 *
8.495.063 (Local onlendings - official institutions - OTHERS . 46.251 #
3.358.480 ¢
Other receivables : : § |
Foreign exchange portfolio 1.339.531 Derivative financial instrument ............cccscesecscsesseeseseseees eh 2.053.898 ip j
income receivable .......... 8.239 4 #
Negotiation and intermediation of securities 413.622 Other liabilities : 4 4
Sundry receivables 417.960 Collection and payment Of tax@S oo... secesessssecstesesscssecnsesessesssesctsvscesseeseesses : 642 a
2.179.352 Foreign exchange portfolio . . 1.414.047 #
Social and statutory ......... 230.593 of
Other assets Taxes and social security contributions 345.331
Other BSSOUS eos tee seeeceescesttteecaneanicccecnesneeecnsssaneceseosernsctecansnineneteseennentnetien 3.314 Negotiation and intermediation of securities 336.663 :
Prepaid expenses... cl ceceeseeees etetueoravanatnss Sbofateaca aa Tre nner cate EOS 5.342 Subordinated debt . 67 é
8.656 Sundry liabilities 423.571 ie
2.750.914 B 5
TOTAL CURRENT ASSETS C1 dee ert ceca Aine hit —_35370.002 =. TOTAL CURRENT LIABILITiEs ... T4923 ey
(Aree transiation of the original in Portuguese) : ; wks ace Waneuae e aele.® . ° ee A :
BANCO ITAU BBA S.A. . i e ORE : aL E
M BALANCE SHEET AT DECEMBER 31, 2005 #
In thousands of reais f
ASSETS : LIABILITIES : mf
i ; ‘te ‘ (continued) f 4
+
LONG-TERM RECEIVABLES \ LONG-TERM LIABILITIES :
Interbank investments : Deposits _ :
investments in the open market .. p 3.234.272 interbank deposits ... 3.775.293 t
Interbank deposits 1.193.048 Time deposits 1.443.794 i
4.427.320 : ; i 5.219.087 ra
a
3 Securities and derivative financial instruments : Securities sold under repurchase agreements
j Own portfolio . bat Se aes harervoaise 1.668.482 © Own portfolio 554.259 if
Norse Subject to repurchase agreements 692.805 Third-party portfolio . 1.856.479 t
; - Restricted to Central Bank of Brazil 88.972 : ‘ 2.410.738 t
Trading securities given in guarantee ie 147.955 i si i 1
Derivative financial instrument... cceeseeceeseesteeeeesetessconeceseseeeseeseseeneneeeneenteess 647.424 Funds from acceptances and issue of securities - issue of securities abroad ...... 388.204 r
3.245.638 i
: Borrowings and onlendings is
: . é
% - Interbank accounts - interbank OMENDINGS ........ cc eccecceeeeseeseedeeebeneeeeeeessseneesaesenesaeiesee 1.546 Foreign borrowings ..... 1.168.971
* Local onlendings - official institutions - BNDES 1.570.835
e) Loan and other credit operations - operations with credit assignment characteristics ... . 6.258.068 Loca! onlendings - official institutions - FINAME 654.831
it : : Local onlendings - official institutions - OTHERS . 17.617
u Other receivables : 3.412.254 4
+ Income receivable .. Relicen 1.074 } f
a Sundry receivables . 419.625 Derivative financial instruments ............... 505.937
i 420.699.
‘oe Other liabilities ‘ Yl
4, . Other assets - prepaid Oxpenses oo... ccs secs cseeeeseseeresscsesnseedesesesseeenesannenees 7.142 Taxes and social security contributions .. e = 385.359
oe : Subordinated debt 116.835
4%; Sundry iiabililies .. 3.352 ‘
- 505.546
4 . We
* TOTAL LONG-TERM RECEIVABLES .. 14.360.413 TOTAL LONG-TERM LIABILITIES .....ccsccstssssssessssssenceceeceeeeseeeens Ue anaes 7 _12.441.766_ 4
¥ —_—_———— Z \ : f
#5 (A free translation of the original in Portuguese)
4 - BANCO ITAU BBA S.A. ; j
: BALANCE SHEET AT DECEMBER 31, 2005 Re
# In thousands of reais ; ‘ }
ri ASSETS : LIABILITIES is
$ (continued) if
is PERMANENT ASSETS DEFERRED INCOME .... 12.275 i
f ; Investments i
a Investments in subsidiaries 106.549 STOCKHOLDERS’ EQUITY ;
é -S i Other investments ...... 19.597 ‘ i
3 ; Allowance for losses ... (361) Capital - local 2.755.795 é
: : 125.785 Capital reserves . 97.348 4
i ’ Revenue reserves . 1.414.248 \
, 4 Fixed assets ; Adjustments to market value - available-for-sale 4
i Property for own use 10.713! investments and derivative financial instruments .. 27.478 i
f Other fixed assets ... 50.418 §. Retained earnings oo... 0... ceectesseeseneneteenenesenegee 245.278 t
uy we, Accumulated depreciation: . (33.772) © ,
3 27.359 TOTAL STOCKHOLDERS’ EQUITY. oy i
f " 4.540.149
Deferred charges auahs {
- ‘ Organization and expansion expenses .. 6.059 ;
: Accumulated amortization - (1.505) » ; ‘
y : 4.554 3
TOTAL PERMANENT ASSETS o0....ot.esssecsessessscsecseesseessesseesvensecseessresescssetssssseaneenesees 157.698
TOTAL ASSETS .. 40.428.113 |) TOTAL LIABILITIES o....cscccssessssssssesesessssseccnnsnsorecensnseesscesssanessnccunanesanssassussseesassusess ee 0.428.113
‘ s
4 The accompanying notes ‘are an integral part of these financial statements.
4 * "(A free translation of the original in Portuguese) é j
z BANCO ITAU. BBA S.A. i
4
a NOTES TO THE FINANCIAL STATEMENTS
y At December 31, 2005 i pes
‘ All amounts in thousands of reais, unless otherwise indicated
a
Â¥ '
¢ 1. OPERATIONS d
es ¢

The financial statements of Banco Itau BBA S.A. have been prepared in conformity with the principles of the Brazilian

Corporation Law together with the rules and instructions of the BACEN - Central Bank of Brazil. As determined by

BACEN Circular 2804/98, the financial information of the foreign branches is being presented on a consolidated basis :

in the financial statements of Banco Itau BBA S.A., translated into Brazilian reais at the exchange rates prevailing on ‘
the balance sheet dates.

As result of the corporate reorganization in 2004, which was approved by BACEN during the course of 2005, and in 8
accordance with BACEN Circular 3017/00, article 9, item 1, the financial statements of Banco Itai BBA S.A. are not ‘
being presented on a comparative basis with the balances of December 31, 2004. .





Interested persons may obtain a complete copy of the Audited Accounts from SG Hambros 4
Bank & Trust (Bahamas) Limited, P.O. Box N-7788, West Bay Street, Nassau Bahamas. ’

re as OL a A A Oe



uN



tae




FAGE

145, THURSDAY, MAY 171,



rs

2

IMIDVING SI UII dS



@ ST ANDREW’S
Hurricanes take on NCA
Crusaders yesterday.

The Hurricanes won the
game 17-10 and 17-13.

(Photo: Felipé Major/
Tribune staff)



i KINGSWAY’S Raymond Bingham spikes the ball over the ne
yesterday in junior boys play. Kingsway defeated the Comets bot
(Photo: Felipé Major/Tribune sti





ilies ee

3

gsway
in junior

(Photo: Felipé Major/Tribune 8





ball over the net yesterday duri
junior boys action./SA€ won 17-1
and 17-10 against the Falcons)

(Photo: Felipé Maja
- Tribune:






“VISIBILITY WATER TEMPS.



Today WAVES














































| High = Low W NASSAU Today: ‘Sat 6-12 Knots 1-2Feet ‘6-7 Miles 79° F
i Friday: WSW at 8-16 Knots 1-2 Feet 4-7 Miles 79° F
Het FREEPORT Today: S at 8-16 Knots 2-3 Feet 5-7 Miles 78° F
MODERATE | HIGH Amsterdam NNW at 8-16 Knots 5-7 Miles
. See 5 a j ; : ce . Kat S at 8-16 Knots ~ 2-3 Feet 5-7 Miles 77°F
Very warm with Partly cloudy and - Clouds and sun,a {Partly sunny witha Partly sunny. Some sun with a The higher the AccuWeather UV indexâ„¢ number, the ae WNW at 8-16 Knots 5-7 Miles
partial sunshine. -warm. shower possible. shower possible. shower possible. greater the need for eye and skin protection. EAU
| High: 88° High: 86° High: 86° High: 86°
High: 88° | Low: 74° | Low: 72° | Low: 70° Low: 72° Low: 72°
| VATA er tema bated i AccuWeather RealFeel | AccuWeather RealFeel ‘renee RealFeel BUT eelcienice uae
[er | tL 93°-76° F [_93°-73° F Sis a “S73 Ff

















The SSchiSNs AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure, and Today 7:19 a.m. 24 1:16a.m. 0. 2
elevation on the human body—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 736 p.m. 29 1:14pm. 02°
: Friday @08am. 24 1:58am. 0.1
8:16 p.m. 3.0 1:50pm. 0.2 66/18 48/8 +





; Statistics are for Nassau through 2 p.m. yesterday Saturday 837am. 24 2:30am. 0.1

ABACO Temperature 8:56p.m. 3.0 2:29pm. 0.1

igh: 36° F/30° High , 90° F/32° C -
High: 86° F/30°C : © 99° Sunday 27am. 24 3:21am. 01 —
“Low: 74°F/23°C ees oe ee eg 9:38 p.m. 3.0 3:09pm. 01















Normal low . 71° F/21° C
' : z Last year's high .. . 82° F/28° C
High:88°F/31°CG Last year’s low .... . 66° F/19° C ae
Low: 74°F/23°C_ : ge: Precipitation Sunrise. .....6:28a.m. Moonrise 6:31-p.m.
2 a AS Of 2 p.m. yesterday coves 0.00" ‘Sunset...... 7:45 p.m. Moonset. .... 5:11 am.
S Vea t0 date... .csssessssseseseceeesstrssssseesseens GOO” Full
‘High: 85° F/29° C Normal year to date w..c cc ccescsesteees 8.96" eee te | t(‘<«é‘“‘i «~©=—S—*=


Low: 72° F/22°C





AccuWeather.com EX] showers
. All forecasts and maps provided by : IS: a. . [4 T-storms } Miami
AccuWeather, inc. ©2006 May 13 May 20 May27 = Jun. 3 {o=a"{ Rain ¥ 86/71
86°F/30°C = : = : ee [*_*] Fluriies . a
4° F/23°C ‘ Z gi e neue 80/26 s 4 Snow Cold gL
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precipitation. Temperature bands are highs for the day. :
Forecast high/low temperatures are for selected cities. Stationary Aag—&



KEY WEST
High: 88° F/31°C
Low: 76° F/24°C





81/27 66/18 t
SAN SALVADOR C42
High: 88° F/31°C a ees - 58/14 46/7 :
eS ee G . 79/26 58/14 c



' 1



Shown is today's weather. Temperatures are today
highs and tonights's lows.

S





High: 89° F/32°C.
Low: 77° F/25°C



MAYAGUANA







High Low W High: 88° F/31°C

Fe low Fete
“80/26: 54/12 s/
52/11 38/3 pe






RAGGED ISLAND
High: 89° F/32°C
Low:73° F/23°C





6518 arnt Low: 5 Fac 73/22 49/9 pc







62/1 48/8



GREAT INAGUA.
High: 90° F/32°C
Low: 76° F/24°S

78/25 53/1









73/22 56/12 pe




Tek (2) BBT-4204 f To: 242) 332-2862 f Tok: (242) 396-200








78/25 54/12 68/20 : fone Sg / Winnipeg 53/11 37/2 s 52/11. 34/1 s
3 eee . i a = 4 " =
86/30: 59/15 Washington, DC 66/18 55/12 t 73/22 55/12 po g Weather (W): s-sunny, pe-partly cloudy, c-cloudy, sh-showers, t-thunder:

storms, r-rain, sf-snow flurries, sn-snow, i-ice, Prcp-precipitation, Tr-trace




THURSDAY, MAY 11, 2006

SECTION

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





@ VOLLEYBALL:
By KELSIE JOHNSON
Junior Sports Reporter



IT WAS a busy day on the
court for the St Andrew’s Hur-
ricanes, but the pressure that
comes with the job didn't stop
them from cruising on to victo-
ry. -
With two games on hand at
the St Augustine's College
yesterday, the Hurricanes -
paced themselves and, at the
end of the battle, they walked
away victorious over the St
John's Giants and the Nassau
Christian Academy Crusaders.

It took just two sets in both
games for the Hurricanes to
add to their perfect win-loss
record. The first win came
over the Giants 17-13 and 17-
13, the game against the Cru-
saders finished 17-10 and 17-
13.

The two game win was just
what the Hurricanes needed,
explained captain Ramon Stra-
chan, especially the loss they
handed to the Crusaders.

Team

Strachan said: "There are
still a lot of things we need to
work on as a team, so coming
here today and winning the
two games was what the team
needed.

"We still aren't playing up to
standard and in some cases we
are having a lot of mental laps-
es that lead to silly mistakes. If
we can correct the mental
lapses than we can be.the team
to beat."

Describing the win over the
Giants as quick and easy, Stra-
chan said he was hoping the
match-up between them and
the Crusaders would have
been a little tougher.

He added: "I wasn't expect-
ing them to play us how they
did, but I guess in the end the
best team always wins.

"They have a pretty good
team but we just played
together and came out on
top."

The Hurricanes are currently
in first place with a 4-0 win-
loss record.

The match-up between
Queens College Comets and
the Kingsway Saints went:
down to consistency.

Comets' Kato Pinder and
Saints' Kriston Moore were
both determined to bring the
fire in their game today, hop-
ing it would be enough to give
their team the win.

Even though both hitters
went after every ball set,
Moore would lead his team
safely to a win, defeating the
‘Comets 17-14 and 17-10.

In another match-up, the Big
Red Machines would hand the
Prince Williams Falcons a loss
with a 17-15 and 17-10 victory.

The Tribune.



MIAMI HERALD SPORTS

Kingsway fly past the Comets

i

@ KINGSWAY’S Kriston Moore spikes the ball over the net as QC Comets try to block yesterday in junior

boys play. Kinsgway won 17-14, 17-10

(Photo: Felipé Major/Tribune staff)

Tyne UY




roe a
Vo) er)
Claes















































































iCo-barmieuebbentered
| Precip aetna

a BASKETBALL
‘By KELSIE JOHNSON
Junior Sports Reporter

HEAD coach of the Bahamas’ under
18 basketball team Mario Bowleg
announced yesterday that selecting a 12
member team to compete at the Interna-
tional Basketball Federation (FIBA)
Americas U18 championships is going to
be the hardest decision he’s ever had to
make since he became coach.

Bowleg, who revealed the names of
the 25-member training squad yesterday,
said the caliber of players trying-out for a
spot makes the selection process harder.

He said: “When I looked at the talent
base this year. I was amazed to see how
well the junior programme has expanded.
This is great for the country, but diffi-
cult for me as a coach.

“The players who have been selected to
the training squad are all fundamentally
sound, which is great — an added plus in

' some words. This is going to be hard if we
compare this year’s team to the team we
had in Dominican Republic last year.

“If we really look at it we have discov-
ered a few gems in the rough, and as a
result we are going to have a more tal-
ented team. We cannot ask for a much
better selection than this one we have
right here.”

Returning to lead the team are Kyle
Grant, David McPhee, Dashton Baker,
Lavardo Hepburn, Lavardo Hepburn,
Adrian Wilkinson, Carlos Thompson,
Jeffery:Adderley and Scott Farrington

Grant won the MVP award at the
Caribbean Basketball Champions last
year.

_ Coming in from Freeport will be Grant,
McPhee, Garvin Hunt, Crishad Thomp-
son, Marco Rolle.

Practice sessions in Freeport are on
hold right now due to the lack of facilities. °
According to Bowleg, this problem
should be resolved later this week or as
early as next week.

The members will be allowed to use
the St Georges’ gym when their schedule
is set.

Bowleg said: “The members in
Freeport haven’t been doing any ball
workout because they don’t have any
gym to practise in, but they are working
out. :

“They are doing a lot of endurance
work-outs. I am expecting them to come
- down in shape though. Many of the guys
, coming in from Freeport were named to
last year’s team so we. are looking for-
ward.to having them back on the team.”

Bowleg believes that the Bahamas will
stand a fighting chance of advancing to
the semifinal rounds as one of the top
two teams — if their core players step up
and except the challenge.

Noting that there were several players
last year who perfected the role game,
Bowleg said if members selected to this
year’s team do the same job as the play-
ers last year, then the transition on and
off the court will be easier.

He added: “We have great guards and
centres and we are going to need them in
big games. Our defensive game will sep-
arate us from the other teams, offence
comes naturally for this team.”

The Americas U18 championships is
scheduled for June 28th-July 3rd, in San
Antonio, Texas. The Bahamas ‘will be
playing out of pool B.









Training Squad

Ollen Smith Rashad Williams
Leon Bain Carlos Thompson
Dashton Baker Kyle Grant

Robert Missick Jeffery Adderley
Virley McKinney David McPhee
Lavardo Hepburn Garvin Hunt
Rashad McKenzie Crishad Thompson

Marco Rolle
Antione Bootle
Scott Farrington
Devon Jackson
Mario Pratt
Dwight Miller

Kyheil Roberts
Tareano Clarke
Adrian Wilkinson
Mario Curry
Eugene Bain
Cademe Coleby



For every McDonald ’s Cookie you purchase during

‘the month of May 2006, McDonald’s will make a
_ donation to the Cancer Society of the Bahamas




oe
ee


PAGE 2, THURSDAY, MAY 11, 2006




THE TRIBUNE OBITUARIES

Rock of Ages Funeral Chapel

Wulff Road & Pinedale
Tel: 323-3800 or 322-1431 ©¢ Fax: 328-8852



Pasay ee aS FOR



DORIS HANNA, 74

‘ Bishop Solomon Humes,

Hanna.
Cemetery Spikenard & Cowpen Road.

Hanna; three brothers, Alins and Donald Hanna of Miami,

| and a host of other relatives and friends including,
Cousins: Neil Brennen, Pastor Kathyann Hanna of Snug

assisted by, Pastor Kathyann

Interment: Southern : a resident of Wilson tract; will be held at the Amazing |

_ Grace Missionary Baptist church, Wilson tract on Friday |

! May 12th 2006 at 1:00pm. Officiating: Rev. Elva Johnson,
She Is Survived by, one loving and faithful Son, Fritz _ Assisted by: other ministers of the gospel, Interment
ae | Old Trail Cemetery, Abundant life road.

Florida and Pastor Ehurd Hanna; 4 Sisters, Hilda Cox x

and Evangelist Lorina Nottage of Miami, Florida; Marilyn She is survived by her mother; Shandera Newbold; one |

LaFleur and Albert Ferguson. Two brothers-in-law: - brother: Dershando; grand-mother: Carol Johnson;

| Deacon Gladstone Nottage of Miami, Florida and Three Aunts: Winchesa, Ashely & Ashaneke; four uncles:

| Washington Lafleur; seven sisters-in-law, Virginia Hanna Shavano, Allen Jr; Cleveland & Ashton: two great-grand |

| of Miami, Florida; Priscilla Hanna of Acklins; Dorothy mothers; Mrs Barbara Leadon & Mrs. Rowena Newbold:

| Hanna of Miami, Florida; Birdie, Joyce and Dollymae | two great grand fathers: Allen Newbold & Daniel Leadon;

| Hanna and Evangelist Colette Hanna of Miami, Florida. three grand-uncles: Jerome, Jermico & Jermone; one |

| her guardian and special cousin, Eliza Taylor of Acklins; great grand aunt: Lynn Johnson; grand aunts: Ann, |
_ Monique, & Sharon numerous other family and friends |

_ including Dianne Munroe, Daphne, Ormar, Jarazz, Jamon |
| Corner, Acklins; Pastor Betty Deveaux of Delectable _ Jr; Jamona, Val tino, Shawquan, & Jason: God-Mothers |
Bay, Acklins; Carrie Walker, Ametha Thurston, Beulah

Sands, Velma Ferguson, Thelcene Simms, Goolie Moss, | The Bethel family & Dominique & a host of other relatives

Malcolin Cox, Sybil Pinder, Errington And Preston Hanna, |



| Funeral Chapel on Wulff Road and Pinedale on Friday
_ from 10am - 6pm and on Saturday from 1pm until
| funeral time at the church.

a resident of Snug Corner |
Acklins; will be held at The |
Church Of God Of Prophecy, |
Soldier Road on Saturday May |
13Th 2006 at 2pm. Officiating

DERANEKA DERSHANDA
NEWBOLD, .
4 Months

Daphane, Tanya, Clarnessa, Davan Taylor & indiria Virgil,

» _ and friends.

Curtis Hanna, Duke Errol Strachan, Pastor Rufus And |

Cleveland Hanna, Holston Nottage, King Eric And John | Friends may par their last respect at Abel of Ages

‘Gibson, Minister Brady and Brenville Hanna, Hilma funeral chapel on Wulff road and Pinedale on Thursday
Ferguson, Thelma Demeritte, Fr. Harry Ward and Delores _ from 10am to 6pm and on Friday from 12 Noon until

_ funeral time at the church.
| the Staff Of Geriatrics Hospital, the entire Church Of

| God Of Prophecy families at Meadow Street, Minnie 2
| Street, Soldier Road And Miami No. 1,.Ruthmae And :

Forbes, the entire Snug Corner, Acklins Community,

| Hansel Ferguson.


THE TRIBUNE OBITUARIES

Ta EE SAS SEIS BSS TLS =

L














JOAN NA "CANDY" ©

f
i
8
fi
\
a
i

4

| She is Survived by her daughter: Leona Dean; One Son- :

Interment:Old Trail Cemetery Abundant Life Road.
| in-law: James O. Dean; Grand-children: Richard Hall,

| Julika & Zoviz Dean; Twenty-eight Grand-children:
| Adrianna Thompson, Richard Hall, Sophia Hall Bethel,

Bassett, Lilly and Grace Miller; Nephews: Raymond,



Of Anderson Hill Acklins; Will

Be Held At The Church Of | & Marilyn Lafleyr, The Pratt Family, Daphane Sears & |

God Of Prophecy, Meadow © Family, Freddie Major, Elton & Lottie Williamson, Samuel |
Street & Hospital Lane On |
| Saturday May 13Th 2006 At |
l 8:30am.Officiating:Bishop |
Ss Philip F = aa

Oe nes ee eee olan _ Thelma & Francis Clarke & families; Nemiah & Angela

» Cooper, Shirley Poitier, Majorie McIntosh, Fred Wallace,

THURSDAY, MAY 11, 2006, PAGE 3

Wulff Road & Pinedale |
Tel: 323-3800 or 322-1431 ¢ Fax: 328-8852

ear SERVICES FOR

| Dorcas Cox; Henry Colebrook, Gladys Lightbourne,

| Sen. C.B. Moss, Beryl Armbrister, Rosemae Clear, Portia
: Armbrister, Baintown Urban Renewal, WPC Joanne
_ Major, Monique Morley, David & Marie Rolle, Shan Taylor.
| Bro. & Sis King, Mother Larrimore & families; Patricia

Ground: Commend Formerly 2 Chisolm, MT. Olive Baptist church, family Michael Huyler,

Bro. Hutch & Mrs. Bernadette Hutchinson, Washington |

& Dorothy McPhee, Verdell Cooper, Terry Miller, Erica |

Johnson, Nathaniel & Shantel Ferguson, Judymae Cole,
Carla Forbes. Apostie Charles Wailace, Nicole Pratt,
Dianna Ward & family, Devado Taylor, Kitley & Albert,

UREN ST RE ATT

Joyce Johnson, Rose Beneby, Marina Hanna, Angela

_ Neily, BR. Paul, Benjamin Forbes, Godfrey Johnson,

| Sgt. 202. Orlando Of Freeport, Grand Bahama, Alisia : Rev Charles Rolle, Ambadarch & Freddie, Shirley Brown,

/ : | Tony Mackey, Mrs. Pintard, George. & Pearl Thompson,
| Dean, Lucretia Dean Rolle, Owen, Veda, Colleena, Anya, Harcourt (Bum) Stevens, Tanya & Nicole, Sandra, Sherry
Stevens & Families; Apostle of the end time church,

| Kimberely Dean, Hughnique & Holli Rolle, Dewitt, Dewae, _ The Church of God of Prophecy Meadow Street families:

| D'asha & Dewhone, Leonardo Stevens Jr; Keijuano | Pastor Cephas Ferguson, Bishop Solomon Humes,

| Davis, Jackheil Kemp, J'nell Dean, Orel & Orlandria | Bishop Hulan Hanna, Bishop Nathaniel Beneby, Bishop
| Dean, Ashley Culmer, Onette, Oneice, Orshanique Dean, |
Cherylina, Cleo, Jeremy & Dion Rolle, Nadio, Jamal & |
| Cleopetra; Eight Great Great Grand Children: Kadesha, : re : :
Nikita & David: Thompson, Tanya, Tiffany & Olivia Rolle, _ Of Nassau, the Ministry of Foreign Affairs, Senor Frogs,
Allyiah & Ave Bethel; Grand-son -In-law; Hughdon Rolle;

Grand-daughter-in-law; Nikita Thompson & Kareem Bahamas (accounts control section), the Lucaya Police

Bethel: Nieces: Gloria Adderley, Kelly Opie Rolle, Marcell _ d@Partment families and many others too numerous to

| Forbes, Frances Gibson, Doris Rolie, Marion Johnson, _ Mention.
Larry Williams, Mavis Brown, Adrian Adderley, Joanna :
Neily, Rhonda Miller, Melissa Miller-Deveaux, Amris |

Brown, Joanne Cadet, Elanor Ferguson & Advilda from 10am to 6pm and on Saturday from 9am unit!

Everette, Donnie, Delano, Ednal Miller & Robert Ferguson; Micay time at the church.

Cousins: Ronald Miller, lvadell Carey, Henry Miller & |
| Kathleen; A Host Of Other Relatives & Friends Including; |
Emerald Bethel, Jefferson & Helen Stevens, Irene Darling, |
| Andrew Stuart, Maxine Brown, Ezra Baillou, Rosie |
Saunders, Maria Johnson, Idamae Taylor, Mary Sweeting, |
Evie Lafleur, Sis. Epsie Clarke & Families; Kelson & |

Joseph Swann & families; The Baintown Community,
The Dumping Ground corner family, The Salvation Army,
the staff at Bahamas. Customs department, the Pirates

Lucianos,. Bahamas food services, the bank of the

Friends may pay their last respect at Rock of Ages
funeral chapel on Wulff road and Pinedale on Friday


PAGE 4, THURSDAY, MAY 11, 2006

THE TRIBUNE OBITUARIES

Robinson and Soldier Roads, Nassau, N.P., Bahamas
P.O. Box CB-12072 ~
Telephone: (242) 394-8043 / (242) 394-8047
Pagers: 340-8043 / 340-4424 / 340-8034 ¢ Fax: (242

FUNERAL SERVICES FOR

Susanna Louise
Knowles, 70

of Fortune Village, will be held on
Saturday, May 13th, 2006 at 10:00
am, at All Saints Anglican Church,
All Saints Way, Joan’s Heights.
officiating will be Rev Father S
Sebastian Campbell and Rev Father
G Kingsley Knowles. Interment will
follow in Old Trail Cemetery, Old
Trail Road.

She is survived by her gour sisters, Naomi Knowles of Simms
Long Island, Judy Andrews of Clewiston Fla., Annamae and
Sharon of Nassau; 3 brothers, Eric Knowles of Cocoa Fla,
Oswald Knowles of Freeport and Hurbert Knowles of Nassau;
two uncles, Rev Urban Knowles of Simms, Long Island and
Lawrence Knowles of Nassau; 3 aunts, Eureka Knowles of
San Salvador, Alma Maria Knowles of Simms and Lillimae
of Nassau; ten nieces, Stephanie Pratt, Cheryl Mckenzie-
Howard, Lavern Knowles, Rita, Ingrid and Sheena Brown,
Odessa and Shenique Knowles, Bereka Andrews and Cheryl
Gray; eleven nephews, Sherman, Kevin, Ricardo, Marvin,
Ken, Sean, Oswald Jr, Troy, Tavaris, Jason and Godfrey Jr,
13 grand nieces, Lashanta, Matina, Shelvanda, Leante’,
Carnadia, Jordan, Monisha, Lanora, Kendisha, Tanisha,
Shavania, Shekinah, and Senora; 10 grand nephews, Noel,
Nicholas, Branden, Ricardo De-angelo, Delano, Javon, Trevon,
Sean Jr, and Godfrey Jr; eleven great grand nieces and
nephews; four sisters-in-law, Mildred (Nita), Lillian, Vicky
and Olive; three brothers-in-law, Wilfred, Jeffrey and Mr.
Wendy Knowles; stepmother, Virgil Knowles and a host of
other relatives and friends Including, Rawle Maynard of
Freeport, Patsy Green, Ivy Seymour, Violet Stewart,
Arimmenta Butler, Clifford Knowles and Family, Audley
Pratt, Phillip Howard, Martha Johnson, Edward Knowles,
Monique and Berney, Nola Mckenzie, Louise Adderley,
Michelle Gilbert, Joseph David, Vernice, Kirk, Anthony,
Alvin, Lillian, Wendell, Carnetta, Inez, Vincent Smith, Cephas,
Bernard and Regina of Palm Beach Fla, Patricia, Ivan, Calvin,
Dorothy, Griell, Benson, Garnet, Lyndon, Clayton, Elvinia,
Dianna, Pamela, Joan, Linda, Carolyn Miller, Betty Roberts,
Alice Sands, Patsy, Sybil, and James Knowles, Rudolph
Minnis, Shirley and Alfreda Thurston, Rev. Alvin Gray,

Phillip, Garfield, Samuel Frank, Wellington, Kenwood, Wan,
Dave, Dale, Linsley, Cheryl Knowles, Caregiver, Joyce of
Freeport, Eloice, Nurses and Staff At St. Luke’s Medical
Center, The Dialysis Unit of Nassau and others too numerous
to mention.

Viewing will be held in the “Celestial” Suite At Restview

_Memorial Mortuary and Crematorium Ltd., Robinson and |

Soldier Road on Friday from 10:00 am until 6:00 P. M. and |
then at the Church on Saturday from 8:30 am until service
time.

Eva Elizabeth Deveaux, 84

of Clifton Street, will be held on

| Friday, May 12th, 2006 at 11:00 |
am at New Providence Seventh Day |
Adventist Church, Soldier Road |
East. Officiating will be Pastor Dr |
MD Toote, assisted by Elders.

1 Interment will follow in Woodlawn
Gardens, Soldier Road.

Left to cherish her memories are

her sister, Vernita Dugay; five

grandchildren, Dwayne, Dino and Deon Deveaux, Shane
Bain and Alketa Daxon; one daughter-in-law, Julia Deveaux;
three nephews, Nelson Walkine, Rudolph and Clifford
Mckinney; one niece, Violet Miller; other relatives and
friends including, Kimberley and Melba Deveaux, Elva
Lightbourne, Narissa Young, Shirley Bain, Deangelo, Dechea,
India, Julian Deveaux, Donita, Daron, Antonia Daxon, Theda,
Nora ‘Cartwright, Maxine Lord, Louise Smith, Ruby Thurston,
Nellie Pratt, Anthony Curtis and Family, Pastor Dr MD Toote
and Family, Clifford Mckinney and Family, Rudolph
Mckinney and Family, Nelson Walkine and Family, The St
George’s Anglican Church Family, The Seventh-Day
Adventist Church Family and Godfrey and Family

Viewing will be held in The “Serenity” Suite at Restview
Memorial Mortuary and Crematorium Ltd., Robinson and
Soldier Road On Thursday from 10:00 am until 6:00 pm

and then at The Church on Friday from 9:30 am until
service time.


THE TRIBUNE OBITUARIES .



THURSDAY, MAY. 11, 2006, PAGE 5

| Memorial Mortuary
and Comedovium Limiled

NASSAU

Robinson and Soldier Roads, Nassau, N.P., Bahamas
P.O. Box CB-12072
Telephone: (242) 394-8043 / (242) 394-8047



Louise Georgianna
Minnis, 68

| of Armbrister Street, Fox Hill will
be held on Sunday May 14th, 2006
} at 11:00 am at Maranatha Seventh
Day Adventist Church, Prince
Charles Drive. Officiating will be
Dr H A Roach and Pastor E D
Clarke assisted by Elder Joseph
Moore. Interment will follow in Fox
Hill Cemetery, Fox Hill Road.



Left to cherish her memories are five sons, Arthur Minnis Jr,

Robert Outten, R/C #775 Patrick Minnis, Pedro and Antoine

Brice; 2 daughters, Sharon Davis and Michelle Wells; 21
grandchildren, Dr Shaniqua Rayford of Atlanta Georgia,
| Tredika, Kadasha and Deshante Davis, Nastacia and Patricko
| Minnis. Georvette and Georvantae Wells, Kendal Sr,
| Emmanuel, Clemetina, Rebecca, Ruth and Vivian Minnis,
| D’angelo, Dekotdeo, Robert Jr. and Robyn Outten, Chardonnay,
| Antisha and Maliyah Brice; 1 great grandchild, Kendall
| Sands Jr; 2 sisters, Ida and Doris Demeritte, 2 sons-in-law,
| Trevor Davis and George Wells; 2 daughters-in-law, Etienne
; and Marvette Minnis; 1 sister-in-law, Janette Demeritte; 1
grandson-in-law, Warren Rayford of Atlanta Georgia; 23
| nieces, Virginia Taylor, Betty Brice-bain, Daisy Johnson,
| Jacinta White, Judith, Theresa Davis, Patsy Femme, Miriam
and Deborah Demeritte; Claudine Rolle, Maxine Sands,
| Marjorie Brown, Vera Demeritte, Rose Burrows, Shirley
| Armbrister, Blanche Demeritte, Bernie Demeritte, Millicent
.Mackey, Sandra Carr, Arianitta, Gwendolyn Pratt, Shirley and
| Cleome Ferguson; eighteen nephews, Albert, Thomas, Willard
j and Larry Demeritte, Gary and Edmund Carr, Fredrick,
Stafford, Rodney and Ernest Demeritte, Benjamin, Locksley
Jr, Lester, Allan, Gregory, Albert and Isaiah Demeritte,
Willington, and Reginald Demeritte and a host of other
| relatives and friends including, Maleria and Era Ferguson
and Family, Rosalie Clarke and Family, Pastor and Sister H.-A.
| Roach, Pastor and Sister ED Clarke and Family, Warren and
| Gayle Farquharson, Gideon and Sonia Storr and Family,
; Genevieve Paul and Family, Nurse Joann Rolle and Family,
| Robert and Jennifer Francis and Family, Alithea Strachan and
Family, Claramae Pratt, Delano Hamilton and Family,



; Constance Hutchinson, Tony, Charms and Charphane Burnside, -’

we



Pagers: 340-8043 / 340-4424 / 340-8034 Fax: (242) 340-8034

a eS aa




Thoy Rahming, Denise Russell and Family, Teora Murray
and Family, Rochelle King, Rev Ednal Minnis, Cherese
Westmoreland, Valentino, Erick Bain Jr. The Maranatha S.D.A.
Family, The Step Street and Fox Hill Families and Other
Relatives and Friends.

Viewing will be held in the “Irenic” Suite at The Chapel at
Restview Memorial Mortuary and Crematorium Ltd.,
Robinson and Soldier Road on Saturday April 13th, 2006
from 10:00 am until 6:00 pm and then at the Church on
Sunday From 9:30 am until service time.




w
>
r

be

Roosevelt ‘Chickie’ ‘Roach :
Mckenzie Sr, 61



Formerly of Rolleville, Exuma died at
Princess Margaret Hospital on Saturday,
May 6th, 2006.

He is survived by his Wife, Genevieve
Mckenzie; Mother, Iva Rolle; three
daughters, Chervon And Shericka
Mckenzie and Anishke Johnson: two sons,
Pe. 1330 Steven ‘Skinny’ Mckenzie And
Pc 1950 Roosevelt ‘Twine’ Mckenzie Jr;
five sisters, Elva Nairn, Lazera Rolle, Eloise ©
and Katiemae Mckenzie and Ivamae Clark; nine brothers, Daniel of
Florida, Clayton, Preston, Laban, Daniel and Michael Mckenzie, David,
John and Alexander Stubbs.

Funeral arrangements will be announced later.

Dwayne Adderley, 39

of Willis Street, Nassau Village died at
his residence on Friday, May Sth, 2006.

He is survived by his sister, Roseann
Adderley; two brothers, Mark and
Adrian Augustin; four nieces, Latera
Smith, Tamika, Charlisa and Candech
Williams. ;

Funeral arrangements will be announced
/ later.



CB S600 a8 0a RA DE EEE TES ESSE REE PE SL SPC Pe STOOD FS TS BESET ESTE USE SOE


PAGE 6, THURSDAY, MAY 11, 2006

Pinder's Fi ineral Home

“Service Beyond Measure”

PALMDALE AVENUE, NASSAU, BAHAMAS
PHONE: 322-4570/ 393-1351 * CELL: 357-3617

RANNIE PINDER President
oe

WILLIAM DOYLE
SANDS

who died at the Princess |
Margaret Hospital, will be held
| on Saturday May 13th, 2006 at

llam at Evangelistic Temple

| Collins Ave. Pastor Gary Curry

| assisted by Minister Eric Fox
officiating. Burial will be in
Old Trail Cemetery Abundant
Life Road.

He is survived by two
. daughters: Tara "Ticie"
Armbrister and Nadia Sands; one son: Sean Sands; one son-
in-law: Craig Armbrister Sr.; one daughter-in-law: Suenell
Sands; Two brothers: Tony and Reginald Sands; four uncles:
Wayde, Donald, Billy and Robert Sands; three aunts: Marguerite
and Vadie Sands, and Sheila Alvarete; four grandchildren:
Craig Jr., Tiara, Adam and Aden Armbrister; two step-
grandchildren: Crysnah and Crystal; six sisters-in-law: Beatrice
and Sandr: Sands, Olga Burrows, Pauline Pavon, Rosemary
Knowles a ¢ Glorie Moree; three brothers-in-law: Eric Moree
Sr., Angelo ?avon Sr., and Kevin Knowles Sr.; numerous nieces,
nephews a idl friends including: Linda Fox, Wellington Fox,
Regina Sims, Pastor David, Kenney and Paul Cartwright,
Rebekah Tedeschi, Rhonda Albury, Stephanie Sands,
Christopher Albury, Jonathan Chee-A-Tow, Randy Sands, Troy
Sims, Robert Tedeschi, Andrea Sands, Kate and Emily Sims,
Michael, Christopher and Ian Fox, Alec Sands, Peter Tedeschi
and Noah Albury, Dorothy Holbert and family, Eileen Dixon
and family, Dwight Longly and Charmaine Wilson, Management
and Staff of Coral Beach Towers. Lobby Bar at Atlantis, Shelly,
Gregory, Linda, Elisa, Angelo Jr., Eric Jr., Pietro, Racquel,
Kevan Jr. and Le~oss, Bryan, Donnie, Patrice, Rochelle and
Dawn; special mends: Roslyn Best and Sarah Thomas and
Wesley Wright. Special thanks to the Staff and Family of Teen
Challenge Bahamas for their special care of Doyle during his
illness.

In lieu of flowers please make a donation to Teen Challenge
Bahamas P.O. Box SS-6754 Nassau, Bahamas in memory of
William Doyle Sands.

Friends may pay their last respects at Pinder's Funeral Home
Palmdale Ave., Palmdale on Friday May 12th, 2006 from
5:00pm until 7:00pm.

_ “THE TRIBUNE OBITUARIES

etzrG USC P25
FUNERAL DIRECTORS

“Rendering the finest in caring and compassionate service
regardless of financial condition.”

7th Terrace, Collins Avenue * (242) 356-2187 *
P.O. Box GT-2679 * Nassau, Bahamas

Baas SUS FOR

RODGER
ANDERSON, 50

| of Dundas Town, Abaco will be
+ held on Saturday, May 13, 2006
f at 11:00 a.m. at Latter Rain

Ministries, Dundas Town, Abaco.
Officiating will be Pastor
Alexander Archer assisted by Rev.

| Jerry Cornish. Interment will

follow in The Dundas Town Public
Cemetery.

Family and friends may sign the .
Condolence Register at the church on Saturday from 10:00 a.m.
until service time.

Left to mourn his passing are his father, Reginald Anderson; six
sisters, Estella Deveaux, Fredricka Stuart, Maisie Cartwright, Laura
Albury, Vanria Anderson and Brenda Archer; three brothers, Sidney
Deveaux, Tyrone and Jeffrey Anderson; five aunts, Margaret Lewis,
Gwen and Marie Hanna of Nassau, Catherine Hinsey and Eufenie §
Coakley of Andros; one uncle Leroy "Pemmy" Hanna; two brothers- |
in-law, William Albury and Alexander Archer; one sister-in-law,

# Caroline Anderson; 14 nieces, Patricia, Theresa, Sherelle, Michelle,
| Brenda, Karen, Natasha, Monique, Sharon, Tiffany, Charmaine,
1 Camille, Stacey, Evanya, Crystal and Jody; 14 nephews, Vandyke,

Chaz, Desmond, Ricardo, Jason, Cameron, Alex Jr, Herbrell, Kevin,
Edwin, Alec, Dwayne, Taj and Jasmine; 20 grand nieces and 11
grand nephews.

| Other relatives and friends including, Jerry Cornish and family, the |
| Hanna and Hinsey families of Love Hill, Andros, the Anderson,

Lewis, Neilly and Coakley families of Andros, Sylvia Collie and |
family, Bertram Rahming and family, Peter and Washington Dames, |
Simeon and Tina, Shawn, Shelly, Bernard, Jackie Simms, Raquel

Armbrister, Viola Johnson, Francis Jones, Joyce Smith; neighbours

f of Block 30, the Nairn family of Cooper's Town, Marsha Roberts
|} and family, Howitt Moss, Melissa Minns and The Church of God §
F family, Dundas Town, Abaco. ;

: Family and friends may sign the condolences register at the enureh :
ou oy from. 10am uae service time.


THE TRIBUNE OBITUARIES



oy. * - 7

Rurtiss Memorial Mortuary
-Chapel, Ramsey, Exuma - Tel: 345-7020e Robinson Rd & 5th Street
Tel: 325- 662 1/322: 4969 ¢ 24 Hour Paging Service 323-9761

THURSDAY, MAY 11, 2006, PAGE 7

PEE BS For.



Errol Morgan
Johnson, 60

Williams assisted by Minister Mario
Williams. Interment in Woodlawn
Gardens, Soldier Road.



: = Johnson; four daughters, Marcia,
Morganna, Morshanna and. Mordonna Johnson; one son, Morgan; one
grandchild, Philip Moncur; two stepchildren, Frank Ellis and Tiffany
Adderley; adopted children (Chuck) and Micheala Smith, (Derry) and
Darlene Smith and Santerrio Johnson; two brothers, Arthur and Prince
Johnson; two sisters, Joyce Reid and Shirley Ferguson; two aunts, Daisy
Johnson and Frances Gaitor; mother-in-law, Virginia Curry; seven
brothers-in-law, Philip Ferguson, Basil Rolle, Delsworth Neely, Jeff
Hall, HMP. Cpl. Andre' and Dr. Dario Curry and Gilbert Paul; five
sisters-in-law, Edna and Gwen Johnson, Edna Rolle, Gloria Neely and

Turnquest, Stephanie and Nelson Cartwright, Ruthmae and Irwin Bain,

Rolle, Bernadette Brennan, Fiona Richards, Natasha Cartwright, Debbie
Mills, Philippa Ramsey, Tammy Turnquest, Merlene, Donna, Linda,

Ferguson, Hubert, Joey, Jeffrey, Perry, Kevin Ricardo, Colin, Peter,
Darron and HMP. Cpl. Dennis Johnson, HMP Deacon Kendal Rolle,
Khantio Sturrup, Quinten and Patricia Rolle.

McCartney and family, Mandy Mackey and family, Bryan, Susan,

Bannister family, Tony McPhee, Rubert (Sexy) Miller, Portia Scott,

i : family, Eulamae Rolle, Anna Maud McPhee, Janet, Helen and Melvin
: Cooper, Alfred Bullard, the tenants, staff members and students of C.H.
: Reeves and R.M. Bailey Schools, Claridge Primary Grade 3 Dorsette,
: St. George's Pre-School, the entire Bannerman. Town community,
: International Mason and Order of Eastern Star expecially Essie Chapter

of Robinson Road will be held on : 29, The Five Pound Lot family, Male Medical #1 especially Nurse

Saturday at 2:30 p.m. at Church of : Saunders, Jerry's Diner staff, Montell Heights family and a host of other

God Auditorium, Joe Farrington Road. : relatives and friends.

Officiating will be Rev. Dr. Kennedy i

The body will repose at Kurtiss Memorial Mortuary, Robinson Road

: and Fifth Street on Friday from 12:00 noon until 6:00 p.m., on Saturday

: from 10:00 a.m. until 1:00 p.m. and at the church from 1:30 p.m. until
? service time.

He is survived by his wife, Stephanie

Mizpah Hall; nieces and nephews, Karen and Patrick Sturrup, Karen :

Terry Romer, Jackie Reid, Andrea Culmer, Charmine Major, Janice }



| Tasha, Princess, Leona and Cheakita Johnson, Crystal and Christian :

nieces: Deaconess Faireliene Carey, Deaconess Muriel Thompson,
: Earlimae Taylor, Dora Hepbburn, Crystal, Audra and Daphne Glinton,
i Nadine Lubien, Antoniette and Karen; 12 nephews; Joshua, Abraham,

. . = : é ‘ i Oscar, Gordon, Dennis, John, Kevin, Craig, Robert, Lancelot and Audrey
Other relatives and friends including Bishop Alfred H. K. Cooper and ? Green and Junior Lubien; 1 sister-in-law: Pancy Moxey; host of other
family, Brenda and Bert McKinney and family, Carolyn Levarity and ¢ yeJatives and friends including Deputy Prime Minister Cynthia Pratt,

family, Lem and Stephanie Mackey and family, Huden Mackey, Sherlyn : Minister Jeffrey Carey, Pastor Michael Thompson, Anthony Taylor,

: ? Minister Ralph Hepburn, Sylvia and Donnamae Green, Maggie Callahan,
Sandra, Daphane and Wesley Mackey, Ena and Tom McKinney and } Dorothy Green, Annamae Rolle, Pastor George Clarke, Euthal Moxey,
family, Gladwin and Alice Gray and family, Mildred Cooper, Prince : Joel Moxey, Lundy Moxey, Augusta Davis, Shirley Clarke, Emily
and Zilpha Mackey and family, Patricia Bethel and family, Delvan and i Cunningham, Sonny Sturrup, Winston Sturrup, Randolph Rolle, Allan,
Monique Ferguson and family, Pastor Mallory Lightbourne and family, Fred, Nelson, Roy, Leo, Cleo, Dorothy and Brassie Moxey, Edna Cooper,
Eartha Arnold and family, Roslyn Collie and family, Antionette and i peacon Moody Moxey, Wilton Moxey and Sister David Mary
Anthony Pratt and family, Terez Curry and family, Cindy Smith and :

family, Patsy Gibson and family, Margaret Thurston, Rev. Enoch Mackey, i The body will repose at Kurtiss Memorial Mortuary, Robinson Road

Firstina McPhee, Holman McPhee, Cecil Williams and family, Pastor } and Fifth Street on Thursday from 2:00pm until 6:00pm and at the

Rufus and Barbara Johnson and family, Cedric Johnson and family, M.P. : gravesite in Mangrove Cay Andros on Friday from 10:30am until service

Glenys Hanna-Martin and family, Dr. Vienna Clarke and family, Stephanie 2 4, @:
Dean and D'Essence Beauty Spot, Sensi Ulrick McKinney and Bahamas :

Karate School, Yodephy Dance School, Shirley Johnson and family, the i

| Charles and Eleanor Rolle and family, Rudolph-and Shirley King and



























Eldridge Moxey, 72

of Little Harbour, Mangrove Cay,
Andros will be held on Friday at
11:00am at the gravesite of The Public
Cemetery, Mangrove Cay Andros.
Officiating will be Pastor Rufus Green
assisted by Sister David Mary.

He is survived by one brother: Minister
Wilmore Moxey; three sisters; Rev.
Doreka Green, Rhodamae Green and
Ceola Moxey; one uncle: Leonard
Moxey; 1 aunt: Pearl Moxey; 10




















PAGE 8, THURSDAY,.MAY. 11, 2006 _, THE TRIBUNE OBITUARIES



m7 ~~ ~~ ;

Rurtiss Memorial Mortuary]

Chapel, Ramsey, Exuma - Tel: 345-7020¢ Robinson Rd & 5th Street
Tel: 325-6621/322-4969 * 24 Hour Paging Service 323-9761

Last Rites a !

Bloneva "Shunk"
Percentie Cleare, 63

of Hatchet Bay, Eleuthera: and
formerly of Harbour Island will be
held on Saturday at 11:00am at St. | ;
Stephen's Baptist Church, Hatchet | ,
Bay. Officiating will be Rev. Lambert | :
Farrington, Rev. Eric Johnson and | i
other Minister. Interment will be in | |
Big Yard Cemetery, Hatchet Bay

Eleuthera. :

She is survived by her husband of 22

years Harold; Four daughters Dedrie
Smith, Faith Johnson, Tina Darville, Tarra Desiar; Three sons Preston
Evans, Richard Cleare and Johnny Cleare. One adopted daughter Betty
Farrington. One step daughter: Kimberley Seymour. Grandchildren:
Kendrick, Deangelo, Gino, Gary Jr. Smith, Kendal, Waynette , Orachio,
Tony,. Tino, Shadera, Donte, Allison, Junior, Anthony, Madlyn,
Nomineka, Richard, Jr., Carlan, Chyanna, Johneico, Jada. Great great
grands Kenrick Jr., Kenny Jr. Sons-in-law Gary Smith, Jimmy Johnson,
Donameche Darville, Rodnell Desiar, One Daughter-in-law Abigail,
five brothers-in-law Cedric Cleare, Collins Roberts, Bradford Dames,
Clee Cleare, Edward Holmes & Joel Mcphee. Sisters-in-law Helena
Pinder, Wanda Roberts, Paula, Rosemary & Roslyn Cleare, Brenda,
Lavaughn & Katherine Percentie. Five aunts Olga Higgs, Ruby, Mary
& Eugenia Percentie, Katherine Carlile, One uncle, Anthony Percentie.
Step mother Jacqueline Percentie. Five sisters Rosalie McPhee, Dr.-
Naomi Fowler, Bronell Percentie, Lydia Durham & Gwendolyn
Holmes. Two adopted sister, Cheryl & Patsy Johnson, Nine brothers
Williams Johnson, Jackswell, Wesley, Victor, Richard, Maurice,
William & Lionel Percentie, & Kevin. Neices & Nephews, Kyle
Percentie, Adell Headley, Clement Fowler, Latoya,-Ashley-Ann &
Harry Jr. Durham, Brendan, Brittany & Shaquille, Ernest, Shayne,
Avery & Steven, Monique, Jackswell Jr. Cindy Venessa, Gwenique,
Georgetta, Wesley, Jr, Westra,Cadaro, Bermae, Simone, Richette,
Chanella, Garvin, Jacklyn, Jannette, Garvin, Maurice, Jr., Shandria &
Keisha Johnson. Cousins, Edith Cleare, Emily Saunders, Neville .
Major, Frank Nixon, Shiela, Daphne, Sherry, Carol, Cindy, Maria,
Winifred, Flossie, Rosalyn, Anne, Gleana, Dallie, Marylee, Cathy,
Bernice, Pamela, Valarie, Nancy, Karen, Juanita, Eloise Knowles, Ena
Sawyer, Latasha Donald, Troy, Courtney, Newell, John, Steven, Elliot,
Ran, Harry, Dukie, Altemas, Paul, Tony, Raymond, Sammie, Peter,
Humphrey Jr. Dr. Lea, Elvis, Ryland, Floyd and Garland. Other Friends |
include Renne Carlile, Lois Wyatte, Chris Carlile, Edith Hanna &
Family, Rosalie Johnson & family, Shirleymae Bethel & family, Susan
Hanna & family, Prescola Fox & family, Bernadette Brown & family
Judith Roker & family, Lonnie Rolle & family, Mrs. Kayla Bodie &
family, Margo, Derick, Joy, Kera, Jamaal & Clifton Isaacs, Rosemary
Outten & family Dorothy Bethel & family, St. Stephens Baptist Church
family, the Nurses of Hatchet Bay Clinic, Ethelyn Anthony & family,
Renae Moxey & family, Doctors & Nurses of Princess Margaret
Hospital. The entire community of Hatchet Bay, the entire community
of Harbour island.

The body will repose at Kurtiss Memorial Mortuaty, Robinson Road
and Fifth street on Thursday from 2:00pm until 6:00p, Friday from
10:00am until 1:00pm and at the church in Harbour Island on Saturday
from 8:00am until service time.


THE TRIBUNE OBITUARIES

THURSDAY, MAY 11, 2006, PAGE 9

Ae Sinclair Higgs LF.D.

sident/Managing Director

Tere SOT anes FOR

LIONEL L
SAUNDERS, 57 ©

a resident of Crawford Street,

Oakes Field will be held on on :
Saturday, May 13, 2006 at 1:00 ;
p.m. at Sure Word Bible 2

Ministries, Lincoln Boulevard.

Officiating will be Bishop |
Lionel Rolle, Bishop Kendall |.
Swain assisted by Pastor |
Winston Duncanson and Pastor :
Keith Russell. Interment will |

follow in Woodlawn Garden, Soldier Road.

Service has been entrusted to Gateway Memorial Funeral :

Chapel #27 Mount Royal Avenue and Kenwood Street.

Cherished memory held by his wife, Theresa Saunders; |
five children, Juliann, Phillip, Rodger, Larren Saunders |
and Samantha Dolce; two adopted children, Matthew and |
Jackie; three sisters, Loletha Saunders Carroll, Margaret |

Saunders and Linda (Pat) Armbrister; five brothers, Leo,
- Isaac, Charles, Anthony Saunders and Carl Armbrister;

father-in-law, Nathaniel McPhee; ten grandchildren, Julian,
Jade, Vanessa, Valentino, Anaya, Adrian, Amanda,

Matniece, Desha and Angel; daughter-in-law, Dolce; 11
. aunts, Gloria, Sylvia, Olga, Susan, Birdie, Hazel Adderley, |
Shirley, Naomi, Agnes, Jennymae and Maryann; seven |

uncles, Daniel, Amos, Rev. Dr. Sammy Saunders, John,

Archy, Hermis Adderley and Leroy Glass; nieces and :

nephews, Winky, Tinkea, Golden, Silver, Jasmine,
Sapphire, Nathan, Treasure, Karl, Michael, Marcus, Davia,
Dave Jr.,

| of other relatives and friends.

Davina, Shane, Tyrone, Andrew and Paul
| Adderley, Monique, Wendy, Felisha, Cherly and Kenyarda |
| Saunders, 42 grandnieces, 20 grandnephews and a host |

_ Friends may pay their last respect at the funeral home on
Friday from 10:00 a.m. to 6:00 p.m. and on Saturday from
9:00 a.m. to 11:30 a.m.. and from 12:00 noon to service
time at the church.

GWENDOLYN
SMITH, 74

a resident of Balfour Avenue
and formerly of Mason's Bay,
Acklins will be held on
Saturday, May 13, 2006 at 1:00
p.m. at Mount Horeb Baptist
Church, Sandyport. Officiating
will be Rev. Dr. Lloyd Smith.
Interment will follow in
Ebenezer Cemetery.

Service has been entrusted to Gateway Memorial Funeral
Chapel #27 Mount Royal Avenue and Kenwood Street.

Cherished memory held by her four sons, Alfred, Lindred,
Leon Smith and Bolvin Rolle; six daughters, Lusanne
McIntosh, Virginia Smith, Eunice Morley, Francis
Cartwright, Ira Smith and Patrice Cartwright; one
stepdaughter, Patsy Smith; two sisters, Patricia
Cunningham and Artis Taylor; one uncle, Claygon Taylor
of Acklins; three daughters-in-law, Veronica, Gwendolyn
and Nakita Smith; three sons-in-law, Alexander McIntosh,
Thomas and Emiel Cartwright; 43 grandchildren; eight
nieces, three nephews and a host of other relatives and
friends including St. Phillips Anglican Church family in
Mathew Town, Inagua, the Balfour Avenue family and
Mount Horeb Baptist Church family.

Friends may pay their last respects at the funeral home
on Friday from 10:00 a.m. to 6:00 p.m. and on Saturday
from 9:00 a.m. to 11:30 a.m. and from 12:00 noon to
service time at the church.


PAGE 10, THURSDAY,;MAY 14;2006

Cedar Crest Funeral Home

DIGNITY INSERVICE _ :
Robinson Road and First Street ¢ P.O.Box N-603 ¢ Nassau, N.P., Bahamas
Telephone: 1-242-325-5168/328-1944/393-1352

_ FUNERAL aaa

HENRIETTA
GREEN, 55










a resident of India Drive,
and formerly of. Little |
Harbour, Mangrove Cay,
Andros, will be held 11am,
Saturday, 13th May, 2006
at Pentecostal Temple
Church of God in Christ
#95 Pinedale. Officiating

~ will be Pastor Ishmael
Grant and other ministers of the Gospels. Interment
will be made in the Southern Cemetery Spikenard and
Cowpen Road.































Cherished memories are held by her mother; Joycelyn
Cargill; three sons; Brightman Moxey, Samuel and
Dwight Green; five daughters, Martha Russell, Mary,
Helen, Catherine and Ramona Moxey; two grandsons;
including Hugo Paige; three grand daughters: Tamika
Rolle, Shalaya and Brandi Paige; one bother: Alex
Green; one sister: Lulamae Strachan; five uncles: John
and Rev. Prince Cargill, Adolphus, Wellington "Duke"
and Philip Green; nine aunts; Virginia Newton, Harriet
Coakley, Catherine Minnis, Pearline Russell, Charlotte
Mckenzie, Ethel Miller, Shirley Gardiner, Isadara Mizell
and Georgina Pennerman; one brother-in-law: Albert
Strachan: one sister-in-law: Verdie Green; nephews
including Alexander Green, Jr, Isaiah and Albert J
Strachan; nieces including Patrice, loretta and Marlinda
Strachan, Sherene Riley, Tarmaine and Valentina Green
and cousins; a host of other relatives and friends
including Malinda Newbold, Joann Clarke, Lillian,
Patsy, Evelyn, Joycelyn and Ann Green; Gloria and
Joycelyn Moxey, Shirley Clarke, Ricardo, Stephen and
Tamara Pennerman.



Relatives and Friends may pay their respects at Cedar
Crest Funeral Home, Robinson Road and First Street
on Friday from 12 noon.to 6:00p.m, and at the church
on Saturday from 9:30a.m until service time.



THE TRIBUNE OBEUARIES

Fy Abbot Dr.

~ Colin Tatem osc

was horn June 25, 1942 in
the Turks and Caicos Islands
to the late Helen Annie
Russell and A. Arthur
Morgan Tatem. He spent
his earlier years in the
Bahamas where he reared |
two sons: Colin Jr. and

- Christopher Tatem. He

later moved to Newark, NJ

where he married ba
See Tatem. From this union his daughter Ashley Tatem was
orn. :

Colin was a Priest, world renowned Journalist, Sales and Marketi:
Executive, member of the Rotary as well as a Lecturer. A cdiumitiod
Scholar, he received his education from London University, St. John's
College, The Institute of Marketing in the UK, Michigan State
University and Florida State University. He later received an ‘denon
Doctorate in Theology form the Compton-Caputo College in Engla:

During his early years in the Bahamas Colin served as Customs Officer,

_ Royal Bahamas Police Reservist, Ships Agent and Customs Broker.

He then became a Photographer, Journalist and Editor for the Tribune,
Freeport News and Nassau Guardian. During this time he published
Ordeal at Sea, a book of short stories. Colin then served as Marketing
and Sales Director for Princess Hotels where he met his wife Gwendolyn
and would later begin a life with her in the United States. He later
returned to the Bahamas for a short while where he contributed to the
Bahama Journal with a byline column entitled “Everyday Heroes’
While in the US, Colin served as Sales and Marketing Director of
the Sheraton, as Membership Development Agent for the Chamber of
Commerce and was an Adjunct Professor at Essex County College.
Later in his life Colin became highly spiritual, serving as Lay Minister.
at Trinity and St. Philips Cathedral. It was there that he founded the .
Cathedral Resource Partnership, where he became a rousing speaker for
the Newark School System and Mentor to many young men in the
Community. Eo
Colin later founded the Order of Saint Cornelius, a Religious and
Chivalric Order. The Order has grown over the years, now having
hundreds of members from all around the world. During this time Colin
became an Officer of several British and international confraternal
organizations and was knighted numerous times, most recently by Princ