significantly cut the cost of transporting goods to Island consumers, the company's president said Friday.

Mr. Glen C. Smith, IBC president, said merchandise shipping costs climb when there is a US-Bermuda leg but the company's new personal forwarding service will reduce that cost by about half.

Merchandise consolidated through the new service, -- officially launched today -- will be shipped inside the US to an IBC New York-based post office box or an IBC warehouse in New York with the company transporting the cargo by air to Bermuda, added Mr. Smith.

According to Mr. Smith, a three pound package shipped from the US to Bermuda could cost $63 but that package delivered to the Bermuda customer from the IBC post office box will cost $10.50 plus a $7.50 Customs clearance fee on goods requiring a duty charge -- add about $15 for courier fee to get the package to New York from its US site of origin and the total is $33 compared to the $63.

There is a $65 yearly subscription fee for the personal forwarding service as well as a $3.50 per pound charge. If requested, IBC will pay the duty and charge it to the client's account. Account members are given a numbered identification card.

"We are getting the feedback that some clients will use this on a daily basis. I can get a magazine from the IBC New York post office box to the customer's door in Bermuda in two days with this service,'' commented Mr.

Smith.

IBC flies an on-board courier from New York to Bermuda six days a week and the post office box associated with personal forwarding will be cleared daily.

Island delivery is planned for as late as 9:30 p.m.

This new service was a "natural dovetailing with our local message service'', added Mr. Jonathan Brewin, IBC general manager.

According to Mr. Brewin, the new service could lead to a separate division of the company and an increase in staff.

IBC plans to phase in personal forwarding services for the UK and Canada consecutively.

IBC, a privately-owned Bermudian company, was started six years ago by Mr.

Smith and Mr. Robert Railton as a local messenger service and international courier service. The pair remain co-partners in the business venture. Their offices are located in the Mechanics Building on Church Street, Hamilton and they employ 28 people.

Mr. Glen Smith