Bank of N.T. Butterfield & Sons Ltd. has announced that its Butterfield Money Market Fund Sterling Class has won an industry award from iMoneyNet.

The site, which is a leading provider of information about money market mutual funds, named the Butterfield fund as ?Top Manager for 2003? in the Offshore Money Fund Report Awards for the Sterling Money Market Funds.

The award is presented to portfolio mangers with the highest gross total returns for the year.

The fund, which is offered by Butterfield Asset Management Ltd., achieved a gross total return of 3.75 percent in 2003, outperforming 22 other funds evaluated by the iMoneyNet in this category.

?We are very pleased to have won our first award from iMoneyNet,? said Ian Coulman, Managing Director of Butterfield Asset Management. ?The award for the Sterling class is particularly satisfying as it was won in competition with money market funds run by some of the large investment houses in the world.?