common shares in the company, prior to the Budget announcement, had turned into flood of buying yesterday.

On the eve of the closure of its share offering, in which 340,000 common shares are being made available -- 29 percent of Chip's president and CEO Mr.

Bill Gresham's shareholding -- orders were still being received.

Ms Carolyn Hall of Gulf Stream Securities, the investment management and brokerage firm handling the offering, said there had been a significant number of walk-in subscribers yesterday.

She said subscribers should not consider mailing in applications at this stage, but should walk in to Gulf Stream Securities' office at Craig Appin House.

The offering of shares, priced at $6.10 each, is due to close today at 3 pm.

Most subscribers have purchased 1,000 share tranches, said Ms. Hall.

"As a result of the recent lowering of local interest rates, many investors consider this is there last chance to get a seven percent return on an investment locally or overseas,'' said Ms Hall.

The minimum investment is 100 shares at a total price of $610, and the maximum investment is 2,000 shares at $12,200.

Mr. Gresham was the owner of 1,155,122 shares in the company -- 96 percent of the shares of the company.

Chips was incorporated in 1980 under the name of Computer Selection, before changing its name to Chips in 1983, when the company started trading.

It listed on the Bermuda Exchange earlier this year.