four months, increased in value after its chairman purchased 500,000 shares.

Mutual Risk Management announced that it was to start a repurchasing programme and was to buy three million shares of its outstanding common shares.

Stocks increased steeply last Wednesday, rising from just under $10 to just under $12. But the stock fell to under $10 again on Monday.

The company announced that chairman Robert Mulderig bought 500,000 shares and saw the price rise to $11, an increase of 1.8 percent.

Mr. Mulderig now owns a total of 1,022,698 common shares.

Mutual Risk Management Ltd. provides risk management services to clients in the US, Canada and Europe.

GLOBAL CROSSING IN ALCATEL CONTRACT BUC Global Crossing in Alcatel contract Bermuda-registered Global Crossing, which is building and operating the world's first and most advanced global IP-based datacentric network, has contracted with Alcatel for the maintenance of its new, state-of-the-art Pan European network.

Covering over 11,000 route kilometres (7,000 route miles) Global Crossing's Pan European Crossing (PEC) will provide ultra-high network capacity to 24 major European cities, linking them directly with the rest of Global Crossing's worldwide system. Alcatel will handle repair and maintenance at Global Crossing's 25 points of presence and traffic nodes in Europe, as well as along the cable routes. This maintenance contract, coupled with Global Crossing's direct operation of the network, will enable Global Crossing to offer shorter circuit provisioning times and faster repairs.