The Bermuda International Business Association (BIBA) will allow associate memberships, contrary to a headline which appeared in Friday's edition.

The Bermuda Stock Exchange (BSX) has approved the listing of GFM Cossack Bond Co. Ltd. The fund is incorporated in the Cayman Islands as an open ended investment company.

The fund invests in the debt and fixed income obligations of the governments and agencies of former states of the Soviet Union. Under the BSX's restricted marketing provisions the fund's shares may not be traded in lots with an initial value of less then US$100,000.

ASSOCIATE MEMBERSHIPS RULED OUT BY BIBA BUC Associate memberships ruled out by BIBA The Bermuda International Business Association (BIBA) will now allow associate membership in the organisation. BIBA is an association of Bermuda companies which provide professional services to international businesses on the Island.

There are currently 45 members grouped into the banking, legal, accounting and management service divisions. Now BIBA will allow associate membership of companies which do not fit into the four classes of membership. Associates will pay an annual fee of $125 entitling them to receive informaiton about BIBA's activities.