A meeting of the Society of International Business Fellows' (SIBF) in Bermuda this week could lay the groundwork for new business links between Bermuda and the southeastern US.

President Mr. C. Randall Nuckolls said the SIBF, which has 500 members from Texas to Virginia, has invited members of the local international business community to address the annual meeting for the first time.

"We have never consciously tried to have significant interaction with a local business community during our annual meeting but we couldn't pass up the opportunity to network with Bermuda business representatives,'' said Mr.

Nuckolls.

The majority of the organisation's meetings have been held at US locations but the Bahamas and the Dominican Republic have each hosted a SBIF annual meeting, he said.

Stressing the business environment between Bermuda and the southeast US -- where business is booming, especially in Atlanta -- is one of opportunity for both, Mr. Nuckolls said it was surprising that ties between the two were not greater.

"I think Bermuda is under-recognised by southeastern US business people, and likewise, Bermuda under-appreciates southeastern US business and there is great potential for business between the two.

"I would be surprised if business associations between Bermuda and southeastern US business did not happen as a result of this annual meeting,'' said Mr. Nuckolls, a partner in the Washington, D.C. office of the Atlanta law firm of Kilpatrick & Cody and an SIBF Fellow since 1983.

"The Bermuda business community has rolled out the red carpet for the SIBF,'' he said.

Perhaps the new business ties will come in fund management and foreign sales corporations (FSCs) areas, he suggested.

The meeting, which started on Thursday and concludes tomorrow, includes Fellow panel discussions as well as presentations by Bermuda business leaders. The meeting's business portion begins today with a session entitled "Bermuda: Gateway to Global Opportunities.'' This evening, prominent Island business people will host SIBF Fellows at private functions.

Premier the Hon. David Saul will provide an official welcome to SIBF members.

Fellows will also hear from Senator Lynda Milligan-Whyte and Bank of Bermuda senior vice president Mr. Barry Shailer.

Tomorrow's session includes a panel discussion by Bermuda's international business industry representatives Mr. Jim Blankenship of Butterfield & Steinhoff, Mr. Patrick Hackenberg of Kempe & Whittle, Mr. Steve Lund of the Bank of Bermuda, Mr. Tom Davis of Winchester Global Trust and Mr. Rick Spurling MP of Appleby, Spurling & Kempe who will address issues relating to foreign sales corporations (FSCs), mutual funds and company incorporations.

A reception, hosted by US Consul General Mr. Robert Farmer at his residence, Chelston is also part of the agenda.

A highlight of the meeting is expected to be a presentation on global organised crime by Mr. Arnaud de Borchgrave tomorrow.

Mr. de Brochgrave, noted for pioneering the confrontation style of interview, was chief foreign correspondent for Newsweek for ten years and was later Editor of the Washington Times, said Mr. Nuckolls, chairing the retreat.

A record number of SIBF Fellows will attend the organisation's annual meeting, said the Bermuda International Business Association (BIBA), assisting the organisation with their annual meeting.

About 40 percent of the 250 Fellows attending the four-day event, have never visited Bermuda, said Mr. Nuckolls, a Georgia native, who has visited the Island several times to holiday and on business.

The meeting will be led by SIBF president Mr. Hugh Hackney, a partner at Fulbright & Jaworski in Dallas while Mr. Nuckolls will be installed as new SIBF president.

SIBF started in 1981 with 30 members from Georgia and now has about 500 members in the southeastern US.

The society's diverse membership includes senior officers of Fortune 500 companies, leading entrepreneurs, prominent principals of major accounting, investment and law firms, as well as academic and government leaders.