in an article appearing in yesterday's Royal Gazette . Several of Bermuda's charities will receive a much-needed financial boost with the Island's hosting of the Omega Gold Cup, as once again the Bank of Butterfield has sponsored a Charity Race involving many of the top competing skippers. World number one match racer Peter Gilmour of Australia along with Rod Davis, Ed Baird, Roy Heiner, Magnus Holmberg, Chris Law and Eddie Warden-Owen have all agreed to be part of the $15,000 event. The winning entry will receive $3,000, while the others get $2,000 as their consolation. This is a boost from last year and is largely due to the `coming aboard' of Stevedoring Services, XL Insurance Company and Renaissance Reinsurance Limited as co-sponsors. A new `theme' for 1994 has been adopted by organisers, with all charities associated with the event directly or indirectly involved in Bermuda's fight against AIDS and drug abuse. As opposed to the one-on-one action contained in the Omega Gold Cup proper, the Bank race will feature racing of the fleet variety, using a best-of-three series to decide on a champion. American Baird is the two-time defending champion, but will be hard-pressed to make it a `three-peat' with the likes of Davis and Gilmour involved. "The Bank of Bermuda Charity Race has set an international precedent for match racing tournaments around the world,'' read a press release. "Through this event Bermuda has set an example, offering a unique opportunity for local charity representatives to experience the chance of a lifetime.'' Michael Lohan of Stevedoring Services and Renaissance's Charles Hollis expressed pleasure on behalf of each company on being allowed to be a part of such a generous competition. "We are very proud to be associated with this charity race, we feel it's a wonderful opportunity for the local people to experience the thrill of sailing and meeting with some of the finest sailors in the world,'' said Michael Lohan of Stevedoring Services.