to help sponsor International Companies Education Awards given to Bermudians.

The awards are given to Bermudians who have financial needs to get a college education abroad.

The annual awards are giving $10,000 a year for two years to about 20 successful candidates a year.

This is up on the previous years when $7,500 was awarded each year.

But the International Companies Education Awards (ICEA) committee are appealing to chamber members and to other international companies to help fund the award scheme.

"It is a very cost effective way to contribute, as every dollar raised is given out in sponsorship, said Peter Fallon, chair of the fund raising committee of the ICEA. He said that all the administration was done by volunteers and interest from the money each year pays any other costs.

"From a company's perspective, particularly a small company, the administration is already done and every dollar given goes to the student,'' he added.

The awards, which have been running for 25 years, need to raise $350,000 this year.

Mr. Fallon added: "Its longevity is also reflective of the needs of young Bermudians who appreciate the link between higher education and successful careers in international business.'' The increase in the awards this year is in recognition of the higher cost of education.

So far 200 application forms for the awards were made this year, with about 100 applying by the deadline last week.

In June the successful candidates will be awarded their grants, and those moving into their second year will have had their grades and needs reviewed by the panel of nine ICEA committee members.

"This is a terrific opportunity to show the strong contribution to education made on the part of international business,'' said Roger Paschke, chairman of the scholarship awards committee.

Peter Everson, chairman of ICEA, urged companies from the whole international sector to come forward to help educate Bermudians in colleges.