that as of 31st May, 2000, Leon Simmons resigned as a director of the company.

Island Press Holdings said Gary Taylor was appointed a director.

NEW CAPTIVE ON BERMUDA BUC New captive on Bermuda Credit Suisse First Boston, an international investment bank, has set up its first captive insurer based in Bermuda.

The captive is managed by Willis Management (Bermuda), Boston Re will underwrite loans and security offerings from borrowers and will be placing up to $2 billion of treaty reinsurance.