applauded.

The bank's Centennial Trust has donated more than $2.2 million to worthy causes since its 1989 launch.

And Trust organisers have paid tribute to the charitable groups and community projects which have made use of the donations.

Executive vice president of the Bank of Bermuda and advisory committee member of the Centennial Trust, Mr. Louis Mowbray, said it was time to celebrate the work of these groups.

"Philanthropy and volunteerism have an enormous impact on our quality of life, whether or not we as individuals are direct recipients of these services.'' With more than 650 "not-for-profit'' organisations on the Island, charitable foundations had become an integral part of life.

"We all recognise charitable works as a worthwhile activity, but do we really understand the vital role these organisations play in our economy?'' said Mr.

Mowbray.

"Where would we as a society be without institutions such as Packwood Home, Meals on Wheels, or the Bermuda National Trust?'' Mr. Mowbray spoke at a VIP reception recently at the Royal Hamilton Amateur Dinghy Club in Paget.

Also there were Bank of Bermuda director and Centennial Trust advisory committee member Mr. Paul Leseur, and executive director of the Centre On Philanthropy Ms Nancy Smythe.

Guests included Minister of Community and Cultural Affairs the Hon. Wayne Furbert.

Displayed in the room were pictures by Royal Gazette photographer Mr. Tamell Simons and Bank of Bermuda employee Miss Carla Bean.

The photos highlighted the work carried out by recipients of Trust donations.

Some will be displayed in Bank of Bermuda branches over coming weeks.

"The stunning images will crystallise for you all the philanthropic efforts of the charitable organisations they represent,'' commented Mr. Mowbray.

Said Ms Smythe: "Philanthropy is Bermuda's hidden dimension, representing activities that Government will not, or should not, undertake.

"I congratulate the countless volunteers, the Bank of Bermuda and the directors of the Centennial Trust for their immeasurable contribution to the Island.'' Mr. Leseur explained the Centennial Trust fund was composed of Bank of Bermuda stock, and the dividends associated with these shares were the source of awards made every year by the Trust.

"The Trust represents a partnership -- a link between the Bank, the organisations and individuals of Bermuda.

"Without the generous involvement of our civic-minded citizens, corporate donations would be ineffectual -- merely a meaningless handout.'' Thirteen local non-profit groups received grants from the Trust in 1993/94.

They included: Bermuda Cathedral; Council Partners; St. John Ambulance; Meals on Wheels; Bermuda National Gallery; Bermuda Zoological Society; Packwood Home; BFA Youth Football Program; Bermuda National Trust; Commission on Competitiveness; Bermuda Maritime Museum; Scout and Guide Associations; and Fair Havens.

PICTURE OF ADMIRATION -- Bank of Bermuda executive vice president Mr. Louis Mowbray (left), Centre On Philanthropy executive director Ms Nancy Smythe, and Centennial Trust advisory committee member Mr. Paul Leseur appear gripped by one of the photographs on display at the Royal Hamilton Amateur Dinghy Club.