Bank of Bermuda will now face even more scrutiny because of its listing on NASDAQ, but this does not phase the bank's management team.

Fox-Pitt, Kelton Keefe, Bruyette and Woods and Merrill Lynch will all now be watching the bank and issuing statements on whether to buy the stock or not.

These investment banks will be selling the bank's shares to their customers as of today.

"The listing process involved total transparency, so everything there is to know about this bank is effectively known to the public," said Henry Smith, chief executive officer at the bank at a press conference yesterday.

He added after being asked if he was worried about share prices falling, that he could not comment on share prices but said that the market should drive the prices.

Philip Butterfield, chief operating officer at the bank said: "I think that it is also fair to say that from a disclosure stand point that we have been disclosing these things for many years.

"As a matter of fact the transition to a NASDAQ listed company is going to be that much simpler because the bank has been running itself for many years as if it were a listed US company and that goes to our corporate governance and all of our accounting practices. So in terms of having to make any material changes in the way the bank operates, that has already been done."

The bank has filed a 20F form with the Security and Exchange Commission, but at presstime this document was not available online.

This document contains all the information on the bank, its financials, including details of liabilities and any pending law suits.

Mr. Smith yesterday at a press conference; "This afternoon we were notified by the Securities and Exchange Commission that our 20F registration has been made effective.

"Therefore I am delighted to inform you and the Bermuda public that the Bank of Bermuda will list its existing shares on the NASDAQ Stock Exchange tomorrow, April 23, 2002.

"This is a straight forward secondary listing and it does not involve the offering or issuance of any new shares, but it will allow shareholders and potential shareholders to buy and sell our shares through the Bermuda Stock Exchange or the NASDAQ Stock Exchange. And it lays the ground work for any future activity that the bank chooses to conduct."