$500,000 yesterday.

The notes closed at $101.625 on volume of 5600 units worth $466,688 setting a new low.

In other trading, the Bermuda Stock Exchange Index dropped 9.95 points or 0.9 percent to close at 1,099.34 as shares dropped back.

Argus dropped $1 on volume of 6,150 to close at $10 while Bank of Bermuda fell 25 cents to $20.25 on volume of 284.

Bermuda Home dropped 12.5 cents on volume of 135 to close at $6.75.

Trading unchanged were: BF&M, $6.75, 1,485; Bank of Bermuda warrants, $3.50, 539; and Island Press Holdings preferred, $4, 220.

Share volume was 8,813 while share value was $82,953.

Chart -- Page 14