secrecy regarding the suspension of trading of the company's stock.

The company had requested the suspension on Monday pending a further announcement. A company spokeswoman yesterday declined to say when the announcement would be made.

Bermuda Stock Exchange (BSX) chief executive officer William Woods said the release of the announcement was up to the company. The BSX had discretion under its rules about the timing of the announcement.

"We do not want to prejudice what they are doing,'' he said. "Our preference is to get the information out to investors as soon as possible.'' Staples had a 19 percent drop in sales for the first half of its fiscal year to September 30 and declared a six month loss of $236,019.

And the company had warned shareholders that further losses could be expected during the second half of the fiscal year, as well.

In the first six months of 1997 the company had a profit of $463,792. The company has said the operating expenses are under control as internal restructuring has reduced staffing requirements, and savings in this area will be realised over time.