nine issues traded with few price changes.

The Index, which lost ground heavily yesterday, fell a further 0.55 points to close at 1181.69 on trading worth $403,663.

Bermuda Aviation Services forced the Exchange down as it fell 62.5 cents to close at $3.25 on 426.

The fall offset a 12.5-cent rise in Telco shares, which closed at $35 on volume of 6,400.

Island Press 8% preference shares fell $1.50 to $4.50 on volume of 1049 shares.

There were no price changes in the banking sector, but trading remained active as the Bank of Butterfield held at $34.25 on volume of 4,006; Bank of Bermuda was unchanged at $22.125 on volume of 179; and Commercial Bank stayed at $11.75 on volume of 100.

Other unchanged issues included: Chips Ltd., $6.25, 1000; Island Press, $4.50, 4595; and Bank of Bermuda 9% notes, $107.25, 40.

Chart -- Page 14