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Company Moves, April 7, 2006

For the seventh consecutive year Coldwell Banker Bermuda Realty was awarded the Number One Office in Closed Adjusted Gross Commission Income for the Island Affiliates.

The Island affiliates includes Bahamas, Jamaica, St. Maarten, Dominican Republic, Turks & Caicos, St. Croix/US Virgin Islands, Cayman Islands, and Saint Kitts-Nevis.

Receiving individual top agent awards for the Island Affiliates included Coldwell Banker Realty?s Jack Kripl for Top Residential Sales Agent in GCI, Graham Smith for Top Commercial Sales Agent for both GCI and Units and Cecilia (Cesa) Edwards for Top Residential Sales Agent for Units.

Receiving the Above and Beyond Award was Kenneth Richardson, Sales Transaction Coordinator for his selfless act of purchasing school supplies for 46 student that had been displaced by Hurricane Katrina.

Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate Corporation, presented the award at the annual Coldwell Banker International Business Conference, held between February 16 - 19, 2006 at the Moscone Center in San Francisco, California, birthplace of the Coldwell Banker brand.

The annual event brought more than 10,000 Coldwell Banker sales associates, brokers, managers and employees together for an intensive professional development program and awards ceremony. Additionally, Coldwell Banker Bermuda Realty has been named to the prestigious Coldwell Banker Chairman?s Circle.

This designation is awarded to companies who attained the highest levels of closed adjusted gross commission income within Coldwell Banker during the 2005 calendar year.

Coldwell Banker Bermuda Realty is one of only 128 Coldwell Banker companies throughout the world to receive the distinguished award. Coldwell Banker Bermuda Realty has received this exclusive honour for two consecutive years.

As a Chairman?s Circle member, an executive representative of the local real estate firm is invited to attend a retreat exclusively for Chairman?s Circle members to be held at the prestigious Fairmont Monte Carlo in Monaco in July 2006.

At that time, they will be honoured by top management, including Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate Corporation.

?The Chairman?s Circle award is the most prestigious designation a Coldwell Banker company can achieve,? Mr. Gillespie said.

?I am proud and honoured to recognise the Bermuda office, management and staff for an impressive year of sales production.?

?We are proud to be affiliated with all of the Coldwell Banker companies around the world, including Coldwell Banker Bermuda Realty, who work hard to make home ownership a reality for so many families,? Mr. Gillespie added. ?These companies demonstrate the highest professional standards and a commitment to their clients that is the hallmark of Coldwell Banker service.?

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has been appointed as Senior Quantity Surveyor for Bermuda Project Managers.

Mr. Sergeant has over 35 years of experience working on major international construction projects in his native New Zealand as well as on sites in South Africa, Botswana and Zimbabwe.

As a consultant Quantity Surveyor, Mr. Sergeant has been involved in a wide variety of projects including residential housing developments, multi-million dollar shopping malls and maximum security prison development.

He also has experience as a construction surveyor, involved in a major freeway development project and the construction of the new University of Port Elizabeth campus in South Africa.

Mr. Sergeant is a Registered Professional Quantity Surveyor and he is a member of the Royal Institution of Chartered Surveyors, the Chartered Institute of Building, the Chartered Institute of Arbitrators and the Association of South African Quantity Surveyors.

Adam Hawley, Director of Bermuda Project Managers Limited said: ?With the continuing growth of the construction industry in Bermuda, it is important that we have qualified professionals available to advise those undertaking building projects.?

?Ray?s extensive experience in Africa and around the world allows him to anticipate and meet head on the challenges associated with the construction industry. We are certain that he will be a valuable asset to the company.?

Mr. Sergeant said: ?When I moved to the island I was interested to see that Bermuda is undergoing a construction boom.?

?In such a competitive environment it is vital that construction projects are managed effectively, if owners are going to achieve their cost, time and design objectives. I look forward to meeting with my new clients and helping them to achieve their project goals.?

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HWP has introduced a customised six month training programme to managers in conjunction with the Centre for Professional and Career Education at Bermuda College.

The programme in which participants work towards a Certificate in General Management from the prestigious American Management Association (AMA), is scheduled to begin on April 11, and will finish in late October.

The training programme is being offered free of charge to all HWP managers. To date, 33 staff members have elected to participate.

In order to achieve a Certificate in General Management, participants will need to successfully complete five courses: Communications Skills for Managers, Finance and Accounting for Non-Financial Managers, Leadership Skills for Managers; Successful Project Management, and Writing a Business Plan.

Each course will take place over a three-day period in April, May, June, September and October (one course per month), culminating in a final exam.

Training will take place on site at HWP, and managers will train in three separate groups to facilitate business continuity while the training is taking place.

HWP is offering the training as part of its Investors in People programme, and the company is investing more than $80,000 in this current initiative.

?Investing in our employees is one of our most important organisational goals,? Jonathan Brewin, President and CEO of HWP said.

?By providing our employees with ongoing training and professional development opportunities, we aim to help them develop their potential, improve their skills and gain greater job satisfaction. This in turn helps us improve our performance as a company and achieve our business objectives.?