Bermuda's CARIFTA Games' coffers have received a healthy boost of $155,000, compliments of two gold sponsorships ? one a joint venture by two Caribbean companies.

The $80,000 per year being donated by Trinidad & Tobago businesses, Guardian Holdings Limited and the National Gas Company of Trinidad & Tobago (NGC) ? $40,000 each in a three-year commitment to CARIFTA ? was announced via video conference yesterday between Bermuda Track and Field Association (BTFA) and their benefactors in the twin-island republic.

Just before this, confirmation came that the Bank of Bermuda Foundation had pledged $75,000 to the annual, regional athletics showpiece scheduled here for Easter weekend.

"We highly commend both Guardian Holdings Limited and the National Gas Company of Trinidad & Tobago Limited for their commitment to CARIFTA as evidenced by the title sponsorship of the 2003 CARIFTA Games in Trinidad & Tobago and their support of our efforts to host the 2004 Games in Bermuda," said BTFA president Judy Simmons, lauding the gesture from the Caribbean companies as she watched the signing ceremony from Trinidad in Cable & Wireless' offices here which facilitated the video conference.

"Since both companies are not domiciled in Bermuda and may not receive any residual benefit from their investment, except the reward for investing in the future of our young athletes, their generosity is exceptional . . . We salute you and thank you for your commitment and support."

President of Guardian Holdings, Douglas Camacho, said that company viewed itself as "a Caribbean entity" and backing the CARIFTA Games was an ideal way to demonstrate their "Caribbean-ness" and commitment to youth development.

"It's the one Games that truly unites the Caribbean under one banner. It's even more Caribbean than the West Indies cricket team," he reasoned.

Director of NGC, Clarence Mitchell, noted this sponsorship partnership was in keeping with NGC's community relations programme and its desire to contribute to "the development of young people".

Vice-President of the International Association of Athletic Federations (IAAF) Dr. Amadeo Francis applauded both businesses for making a long-term investment in CARIFTA. In the past, he pointed out, sponsorship from other companies had been contingent upon which territory was hosting the Games; many companies not wanting to inject funds into CARIFTA if it was outside of a country in which they operated.

While saying she hoped this external endorsement would spur Bermudian corporations to pull out their cheque books, Simmons noted Games expenses would be extra high given the cost of living here.

"Bermuda is much more expensive than any Caribbean island and therefore our costs are always much more. When you look at the bulk of our budget, three-quarters of it is in fact accommodation and meals.

"We have been working very hard, sending sponsorship packages to Bermudian companies. Gina Gibbons and Zane DeSilva have been doing that for us and they have touched 60 or more companies.

"They are doing their follow-ups now and I'm sure some of their work will bear fruit."