Business Association that there is a "dearth of knowledge'' amongst the world's business press about Bermuda's role as a financial centre.

In fact, in a casual survey conducted by BIBA's American publicists, Edelman Public Relations, there was an alarming lack of knowledge about Bermuda. In some cases, there was outright ignorance.

The point was hammered home at a presentation made yesterday to the BIBA membership and highlighted to the public last night at the Princess Hotel. The presentation also outlined what BIBA is going to do about it and how it intends to spread the word about Bermuda's growing business centre.

BIBA marketing manager, Mrs. Wendy Davis-Johnson, and Edelman senior executive, Mr. Bob Hubbell, last night addressed representatives from international business, tourism, government, advertising and public relations companies and the media.

Mr. Hubbell said: "Top financial journalists in publications like The Wall Street Journal, The Financial Times, Business Week and Global Finance know about Bermuda's insurance story. Every journalist knows Bermuda's tourism story. Virtually no one knows the story about Bermuda as a financial centre.

"We have to put that story on the journalists' radar and keep it there.'' This is a sampling of what key journalists had to say about what they knew about Bermuda as a financial centre.

Canadian national paper The Globe and Mail's editor of "Investments'' column, Ted Clifford said: "I think of companies trying to pull some sort of tax scam. When I walk down the main street of Hamilton and see the names of head offices of big companies I'm convinced they're playing a tax game.'' The Toronto Star's financial writer, James Dawe said: "I have no perception of Bermuda as an offshore financial centre. Businesses tend to locate there because of the attractive tax situation. It's somewhat isolated...with poor telephone facilities and flight service.'' In Britian, The Independent's personal finance editor, Vivien Goldsmith said: "I'm not at all familiar. I know a little about Jersey and Guernsey.'' The Financial Times senior investment editor, Barry Riley said: "Bermuda has benefited from global shifts in the pattern of wealth, but your niches may not be secure forever against tough competition.'' The Financial Times financial writer, Phillip Coggan said: "I'm not at all familiar (with the business climate in Bermuda). I know a little bit about the Channel Islands...I'd like to get more information.'' The Wall Street Journal's Miami bureau chief, Jose DeCordoba reported: "I'm totally unfamiliar. Haven't thought about Bermuda since I've been (in Miami).

The only offshore centre I know anything about is Panama, because I did a story about fraud down there.'' US magazine Business Week's editorial director, Thomas Leander reported: "The idea of doing a Bermuda survey story has come up a few times but never got off the launch pad. To do a story about Bermuda, we'd need more of a hook than just the fact that they're competing. Changes in the law, significant inflow of new business would get attention.'' BIBA chairman, Mr. Cummings Zuill, said that the first year of the marketing programme is aimed at building awareness.

Marketing committee chairman, Greg Haycock, added: "There isn't a straight cause and effect relationship between an increase in awareness and an increase in business.

We need to get the attention of our target audience with our marketing programme and then make sure that we deliver top quality products and services.'' BIBA is set to undertake a baseline study to track awareness of Bermuda as an international business centre amongst the target audience. And there will be more of a cooperative effort between BIBA, the Department of Tourism and the Insurance Advisory Committee in marketing the Island.

A brochure is being produced about Bermuda's business opportunities.

Edelman has placed stories about Bermuda in the Spanish language version of the Miami Herald and Businessweek.

An article on Black Bermudians in the industry is being developed with Black Enterprise magazine and a special feature highlighting Bermuda appears in the July edition of Global Finance.