into major charitable projects over the past six years.

In April the Trust's Awards Selection Committee sifted through 26 applications from charitable organisations. This year's dividends totalling $580,000 have been carved up between seven major projects.

Among them is the Bermuda Biological Station for Research which received a $100,000 donation last week toward an educational facility for local and international students.

Other organisations expecting to receive substantial cheques from the Centennial Trust over the course of the year include: Matilda Smith Williams Seniors' Home will receive $100,000 over two years for a new wing; Bermuda College, $60,000 over two years for a diversity skills programme to foster racial awareness; Bermuda Underwater Exploration Centre $100,000 over two years to go toward construction costs and a display centre; Royal Artillery Association a total of $50,000 for repairs to its St. George's headquarters; Agape House AIDS hospice $25,000 to pay for counsellors' salaries for two years; and Windreach Bermuda Trust $50,000 over two years for the construction of a multi-purpose activity centre for the physically disabled in Warwick.

Last year the Trust paid out $425,000 and in some cases pledged further lump sums to be paid annually on a three to five year basis.

Ongoing commitments include St. John's Ambulance Brigade, Meals on Wheels, the Bermuda Maritime Museum and the Council Partners.

The funds are generated by a block of Bank of Bermuda shares set aside in 1989 to mark the Bank's centenary and which pay roughly half a million dollars a year in dividends.

"The Trust enables us to support organisations and do it within our annual cash flow. We can benefit more organisations,'' said Executive Vice President of the Bank of Bermuda Mr. Louis Mowbray.

Applicants must prove their projects are in the long term interests of the Island. They must also be major projects in need of substantial cash injections that fundraising alone is unlikely to cover. No donations are less than quarter of a million dollars.

While some applications did meet the Trust's criteria Mr. Mowbray said funds were not available to support them all.

"We look at the number of people who benefit from the projects,'' he said.

"The more people the better.'' Dividends have so far been steady, he said, but depend on the financial health of the bank, he said.