Contrary to popular belief, the Shell Company of Bermuda Ltd. came not as a retailer of gas and oil, but as an exempt company -- one of the first on the Island, according to its general manager, Bob Stewart. "One thing that always astonishes me, is that everyone thinks that Shell runs petrol stations, which we don't,'' he said. "Our biggest business is not selling gas to cars, it's things like aviation and shipping and LPG (Liquefied Petroleum Gas). We supply about 54 percent of retail fuel in Bermuda, 100 percent of gas, 50 percent of aviation fuel, and 90 percent of marine bunkers, but our biggest account in Bermuda now is our management of pension funds -- about US$3 billion. We're also involved in international oil trading, shipping, and the ownership of substantial companies throughout the world.'' Collectively known as members of the Royal Dutch/Shell Group of Companies, Shell companies around the world are run by the Royal Dutch Petroleum Company -- incorporated in the Netherlands, and the Shell Transport and Trading Company plc, incorporated in England.

"The Royal Dutch Petroleum Company was founded in 1890 to develop oil fields in what was then the Dutch East Indies (Indonesia),'' explained Mr. Stewart, "whereas the Shell Transport and Trading Company Limited, was largely a trading venture established by entrepreneur, Marcus Samuel in 1897.'' Mr.

Samuel's aim, he said, was to handle the transport of Russian kerosene in bulk from the Black Sea through the Suez Canal to the Far East. "Whilst the two companies have retained their separate and distinct identities, they merged their interests on a sixty-forty basis more than 80 years ago to enable the drilling, technical and refining expertise of Royal Dutch to complement the transport, financial and marketing skills of Shell. "Neither of the two parent companies has operations of its own, and all activities are carried out by about 500 subsidiaries worldwide, employing about 135,000,'' added Mr.

Stewart. "The Shell group has a decentralised form of management, with the senior person in each country being responsible for the activities and profitability of the local operating company.'' The provident fund of the combined petroleum companies was granted exemption from payment of UK income tax on its investments on transfer of its headquarters from the Hague to London following the fall of Holland in 1940. It was in September of 1947, that the company was transferred to Bermuda after a retirement benefit fund for Dutch employees was established. Local bankers, Sir T. Henry Tucker of the Bank of Bermuda and Hal Butterfield of the Bank of Butterfield were involved in the transfer of the Provident Fund to Bermuda as was the law firm of Conyers, Dill & Pearman, according to Angela Foster, one of the company's original employees. "Permission had been obtained from the Board of Immigration for the employment in Bermuda of 20 girls from the London Office Provident Fund Department, plus a manager,'' she said. "Staff, along with records, furniture and equipment, travelled out to Bermuda in Shell tankers and the first party of eight girls landed at St. George's on Sunday, 28 September, 1947. We were met by Willis Gould who arrived with his wife -- and most of the filing cabinets, a few days earlier. We were followed by another three girls a week later, while the remaining nine arrived at the end of October.'' Said Mr. Stewart: "Out of the original 20 staff, Marjorie Jackson, Angela Foster, Amy Cook, Joan Tite, and Bobby Measures are still in Bermuda, although retired from Shell. The son-in-law of Bobby Measures, Simon Brown, currently works for Shell Bermuda as an investment manager in the Pensions Division.'' Shell initially provided aviation, not motor fuel. The Shell representative in Bermuda, Guy Whittall, worked from the Front Street offices The community always comes first at Shell London to the Shell Company (West Indies) Limited, which had its headquarters in St. Helens Courts, London.'' From 1947 through 1953, the company was located in what is today the ACE building, after which it made the Vallis Building its headquarters. It is today located in St. George's, at Shell House. "We're actually one of the few international companies allowed to own land,'' said Mr. Stewart, "and we own our own building. So we're many years ahead of people like ACE and XL in having our own offices. We moved to Shell House after having made a conscious decision to leave Hamilton in the early 1970's.'' Formed in 1949, the Shell Company of Bermuda Limited is the local marketer of oil, liquefied petroleum gas and chemical products; pension fund management; shipping; insurance, and other financial activities. The Shell Company of Bermuda Limited was formed in 1949, while Shell Trust (Bermuda) Limited, the main pension fund trust company, was not formed until 1953. The Shell Group has two captive insurance companies in Bermuda, whose activities are managed by Solen Insurance Limited. Shell Bermuda, today employs about 60 staff, of which all but three are Bermudian or married to a Bermudian. One of the first exempt companies with a physical presence in Bermuda, Shell has worked to donate as much as it can to the local community, and has encouraged its employees to do so as well. Said Mr. Stewart: "Several of our employees are involved in Government organisations. I, for example, am Director of the Bermuda Monetary Authority and have been involved in many Government committees and organisations. One of our employees is on the Public Service Commission, others are trustees of golf courses, while others are members of the Human Rights Commission. "And Shell has been the major sponsor of youth sport for many years. Sports such as tennis, cricket, football and squash.

We've also donated to many charities.'' In addition to a special banquet for its employees, the company will continue to focus on the community as it celebrates its 50th anniversary. "Customers will be given discounts at service stations, and in September, we will be holding an essay contest for different levels at all schools. Students will be given topics to write on, with the winning essayist receiving a monetary gift for himself and a computer for his school.'' Contributing to the Bermuda of tomorrow is important for a company which plans to include the Island in its future. "Shell is one of the few international organisations in Bermuda which has local activities as well as exempt company organisations,'' explained Mr. Stewart. "In spite of its small size, Bermuda has the highest concentration of "offshore'' Shell Group companies anywhere in the world and it therefore plays a significant part in A Bright future so for the foreseeable future. "Having been here for 50 years, we are unlikely to move. The future looks pretty bright for Shell, and our activities are always changing. It is an organisation that doesn't stand still for very long. It's constantly re-adapting itself to the world's operations.'' PHOTO General manager of the Shell Company of Bermuda Limited, Bob Stewart The Shell logo is known and recognised throughout the world Shell House, the Shell Company of Bermuda Limited's headquarters Shell's LPG (Liquefied Petroleum Gas) shed at its bulk installation plant in St. George's MINI SUPPLEMENT SUP