exempt company affiliated with Forum Finanical Group. The Bermuda company will provide administrative, accounting and other services to offshore mutual funds, limited partnerships and unit trusts.

Managing Director Mr. Lemmon was previously in charge of business development at the Bank of N.T. Butterfield and Son's corporate services division. He now co-manages a mutual fund which specialises in investing in initial public offerings.

General manager Mrs. Conyers previously worked at the Bermuda Commercial Bank as general manager of the international corporate management division. She specialised in offshore fund administration and management of exempted companies.

Forum Financial Group services the US mutual fund industry and has $30 billion under administration.