Hackenburg has been appointed president of XL Market Services starting January 1, 2000.

Mr. Hackenburg is currently CEO of XL Insurance Company of New York.

XL President and Chief Executive Officer Brian M. O'Hara stated: "In his new role, Mr. Hackenburg will be responsible for the coordination and facilitation of cross sell programs and processes, company branding and positioning within the global marketplace, uses of web technology to deliver added value to XL's product and service offerings, distribution initiatives and product process development.'' Mr. Hackenburg will continue in his current role until the end of the year.

Mr. Hackenburg's successor at XLA will be announced as soon as possible.

As of September 30, 1999, XL Capital Ltd had consolidated assets of approximately $14.1 billion and consolidated shareholders equity of $5.4 billion.

BANK TO SELL STAKE BUC Bank to sell stake The Bank of East Asia Ltd said it was selling its 50 percent stake in Bermuda-based East Asia Aetna Insurance Co (Bermuda) Ltd for $172.5 million.

The buyers include Aetna Inc unit and Antena International Inc.

The East Asia Aetna, originally a 50:50 locally-based joint venture between BEA and Aetna Inc's wholly owned unit Aetna International Inc, is engaged mainly in life insurance and related businesses.

The Hong Kong bank said in a statement it was selling 11 percent of East Asia Aetna to Aetna International and 39 percent to an investment partnership including Aetna International.

NOTE SOLD TO INTEL BUC Note sold to Intel Bermuda-based 3Dlabs announced that it had sold a $7.5 million note due 2004 to Intel Corporation.

According to a company Press release, in the event Intel converts the note, 3Dlabs would issue up to an approximate 1.3 million shares of 3Dlabs common stock to Intel.

Intel has been a shareholder in 3Dlabs since 1996. The companies also entered into a licence agreement in which Intel has licensed 3Dlabs' portfolio of patents for use in certain markets.

The terms of this agreement were not disclosed.

"We look forward to continuing the long standing relationship between 3Dlabs and Intel,'' said Osman Kent, president and CEO of 3Dlabs. "As stated before, the licensing of our intellectual property outside our core professional graphics business is part of our growth strategy. 3Dlabs' intellectual property strengths and our position as an innovator in the graphics industry are further underscored by this agreement.'' BUSINESS BUC