independent nation.

Cayman Islands Realty and Development (CIRD) Ltd. noted in their market assessment for the 1995 summer season that a change in Bermuda's constitutional position would mean a major boost for Caymans' offshore industry.

The review of the commercial property market stated: "We are already receiving enquiries from Bermudian investors and professionals looking to move. Two proposed office parks are now under consideration by four or five companies who are in the market for purchasing commercial space.'' The Caymans has already seen a big time boom in residential purchasing, with beach front homes being snapped up at between $500,000 and $1.65 million.

Commercial real estate received a boost when the Government moved to cut substantially the corporate fees they levied. But in a statement signed by CIRD managing director. Mr. J.C. Calhoun and six of his staff, it is stated:"The most intriguing situation to arise recently is the likely Bermudian bid for independence from England. Should that happen, Caymans offshore industry will receive a huge boost.'' The real estate firm has expanded its sale staff even though it notes that there are difficulties in the US economy.

The statement speculates, "The US economy is just not strong enough to push our already active economy to a higher level. We doubt that it will be possible to sustain the same torrid pace of sales through the off season.

"However, the closer we get to elections the looser the US government purse strings will become.

"And with probable new corporate business from Bermuda, there are reasons to be optimistic about the near term activity.''