In an unprecedented move, the Bermuda office of accounting KPMG has awarded two scholarships to local students.

The company said that it generally only awards one student the scholarship a year but was so impressed by two candidates that it has offered both the prestigious $10,000 a year educational award.

The recipients of the 2004 Russell Steinhoff Scholarship were named as Alisha Phillips and Calais Lynch.

As part of being given the financial award, the two students will be able to work on a part-time basis with the firm during school breaks. In addition, they will be expected to work for KPMG for a period after finishing their studies.

KPMG senior partner Greg Haycock said: ?We were absolutely delighted with the response to this year?s scholarship offer. There were several very promising students among those applying. The scholarship committee had a very hard time narrowing down the field and making the final decision.

?In the end we felt that both Alisha and Calais were equally deserving of the award, so the partnership agreed to offer full scholarships to both.?

The scholarship, which is named for co-founder Russell Steinhoff, is awarded annually to a student interested in pursuing a career as a Chartered Accountant or Certified Public Accountant.

Applicants must have achieved a minimum grade point average, and have displayed leadership qualities and a vested interest in their community. It is earmarked for use towards the completion of a first degree.

The scholarship is awarded for three years providing the recipient that continuously meet terms and conditions set out scholarship committee. It is understood that recipients are required to maintain a certain grade point average.

Ms Phillips, a former Warwick Academy student, is preparing to enter her second year at the University of Western Ontario where she is pursuing a Bachelor of Administration and Commercial Studies degree.

Ms. Lynch, who also attended Warwick Academy, is now enrolled in York University where she is studying for her Bachelor of Administration (Accounting) degree.

KPMG partner and scholarship Committee Chairman Craig Bridgewater added: ?It is very encouraging to see so many bright, ambitious students electing to pursue careers in accounting. The profession offers so many rewards and as Bermudians, once qualified, the world will truly be their oyster.

?Sadly, awards can not always be granted to all who apply and we strongly encourage those who were not successful this year to remain focused, continue working hard, maintain in communication with us and reapply next year. KPMG is always on the look out for motivated career-oriented students interested in joining the accounting profession.?