yesterday on a volume of 600, two weeks after the company reported a healthy profit of $8.67 million for fiscal 1993. Telco was the only riser on the Exchange.

Belco shares dropped by 25 cents to $20.25 on a volume of 100 and Bank of Bermuda nine percent notes fell by the same amount to close at $107.25 per 1,000 on trading worth $96,525.

In the day's only other trade, Bank of Bermuda stock remained unchanged at $22 on a volume of 794. The Exchange Index closed at 1,132.53 -- up by 1.67.