Growth in the Island's exempted and local business has prompted the formation of a new corporate annual report-making firm.

Bermuda Corporate Reports will combine the resources of architect Mr. Ian Gordon with the photographic skills of Mr. Graeme Outerbridge and the design talents of Mrs. Jane Pearson.

Mr. Gordon is the managing director of the limited liability company Context Ltd., the parent company of Bermuda Corporate Reports.

"Context Ltd. and the small group of companies under its umbrella focus on graphic design, property development, and marketing, the newest -- Bermuda Corporate Reports -- fits well into the Bermuda market, especially with all the new exempted companies as well as the local companies,'' said Mr. Gordon.

"Working on annual reports is another creative venue. Corporate reports convey the story of that company,'' said Mr. Outerbridge, a professional photographer for about 20 years. Mr. Outerbridge is also the public relations officer for the National Liberal Party.

"We feel there needs to be a specific service, at an international level,'' he added.

According to the Registrar of Companies, the number of local and exempted companies on the register at the end of 1994's second quarter were 1,952 and 7,175 respectively.

"Many corporate annual reports start with a theme and try to carry that theme throughout the report. It may be a Bermuda theme or it may be an environmental theme and photographs are often used. We feel there is a niche in Bermuda for a this type of work and combination,'' said Mrs. Pearson.

"BCR was established to provide companies with a sophisticated and cost effect way to produce corporate reports, we have just announced the business and last week sent out over 700 letters to local businesses.'' The business, located at Collectors Hill, adjacent to Phase 1 video store, will focus on the production of annual reports and will also provide customers with prospectuses, media kits, promotional piece, direct mail, and brochures.

There may be a need to include a copywriter/creative director and an illustrator to the venture, continued Mrs. Pearson.

Mrs. Pearson, who has been with Context for about two years and in graphic design for about 14 years, has worked on annual reports for the Hemisphere Group.

She previously worked for Advertising Associates Company Ltd. and did the design work for The Rainbow, a children's book.

CORPORATE REPORTERS -- Mr. Ian Gordon, left, Mrs. Jane Pearson, and Mr. Graeme Outerbridge, have set up a new business, Bermuda Corporate Reports, to prepare the annual reports for the Island's businesses.