customers to pay their bills on-line.

In a recent letter to its shareholders, Belco announced plans to provide customers the opportunity to settle their bills on the Internet.

Outlining the online option, Belco president and CEO Garry Madeiros said: "The initial Belco Holdings Limited website will be released in January 2000 as an information only site, with an interactive release planned for the first quarter and future plans to allow payments on-line.'' The letter to shareholders also noted that a 35 cent dividend per share was declared for the fourth quarter.

Mr. Madeiros, said he was "pleased'' with the company's performance.

"We began the year with a substantial list of critical initiatives,'' he noted, "including group-wide system replacements or upgrades necessary to achieve Year 2000 compliance, our generation expansion, the implementation of our new electronic employee communications system, further improvements in the operations and services of Bermuda Gas, and the continued growth of our energy services provided through Belco Energy Services Company (Besco).''