The Bank of Bermuda Foundation yesterday awarded $717,000 in scholarships to 20 university students.

Philip Butterfield, Bank of Bermuda CEO, reminded the winners of the annual award programme that they were the future of the country, and urged them to use each day to further their knowledge.

Speaking at the 2007 presentation ceremony at City Hall, Mr. Butterfield told them: "It's a distinct privilege for me to be here tonight because I believe as a community we don't celebrate the right things often enough, and celebrating young people who have achieved academic excellence is worthy of all of us. "Our country is at an interesting time in its evolution and we need keen minds and dedicated young people with a keen mind to continue our success and take us forward.

"I would urge each of you to be as curious as humanly possible because the opportunity for success will be beyond your wildest expectations."

Speaking afterwards, Mr. Butterfield said: "We are in a period of growth in our economy and with that comes lots of opportunity, but in order to capitalise on this we have to produce a larger proportion of properly qualified Bermudians. In order to do this I feel education has to be a priority."

Mr. Butterfield is currently heading up the Interim Executive Board responsible for implementing the Hopkins Report reforms to the Island's public education system.

He said: "It's going quite well and we will soon be able to give a broad-based communication as to what people can expect.

"It is a formidable task. However, it is a task worth accomplishing and I'm confident that in the short order we will begin to see some positive effects. We just need to harness the goodwill out there and make sure that we all share the same vision and objective."

Praising the winners of this year's scholarships, David Lang, Director and Secretary of the Bank of Bermuda Foundation, said: "The global community of today is one of competition and excellence where the experience of a top quality education is often essential. With Bermuda providing such a wealth of academic talent, the Bank of Bermuda Foundation is delighted to support these individuals as they strive to achieve higher levels of education and we wish them the very best in their future studies."

The recipients are as follows:

Sir John W. Cox University Scholarship for Postgraduate Studies: Candace Jantzen-Marson.

This $30,000 award for up to four years is allocated to those pursuing postgraduate education overseas. Candace, who attended the Bermuda High School for Girls, is to study a Master of Science degree in Environmental Engineering at Stanford University, California.

Eldon H. Trimingham Master of Business Administration Scholarship: Melissa Lawley.

This $30,000 award for up to two years is given to those studying overseas. Melissa, a Bermuda High School for Girls graduate, has been working as a Trust Administrator for Bermuda Trust Company Ltd. since December. In the Fall she will study for her MBA degree with a major in Marketing at Dalhousie University.

Sir Henry Tucker University Scholarship: Shaunee James.

Valued at $30,000 for up to four years, this is reserved for an undergraduate student travelling overseas. Shaunee, a Bermuda High School for Girls graduate, will pursue a degree in Law at the University of Manchester, England.

Sir Henry Tucker Scholarship Education Grants: Caitlin Conyers, Danielle Farrington and Ciara Talbot.

These $8,000 grants for four years were awarded to the three runners-up for the Bank of Bermuda Sir Henry Tucker Scholarship. Caitlin Conyers, a recent graduate of Trinity College, Canada, is to study a Bachelor of Administration in Foreign Affairs at the University of Virginia. Danielle Farrington, a recent graduate of Bermuda High School for Girls, is to pursue a Bachelor of Science with a major in Anatomy and Cell Biology at McGill University. Ciara Talbot, who graduated from Bermuda Institute, is studying for a Bachelor's degree in Fine Art and Pre-Medicine at Sierra University in California.

Financial Services Scholarship: Gareth Williams.

This $40,000 scholarship is dedicated to advancing and developing Bermudians within the banking profession in Bermuda. Gareth, a former pupil of Warwick Academy, is studying for an Economics degree with a minor in Computer Science at the University of Southern California.

Joseph C.H. Johnson Scholarship: Courtney Smith.

The $30,000 scholarship for up to four years provides support to an undergraduate student at Bermuda College or overseas university. Courtney recently graduated from the Bermuda High School for Girls and is a member of the Centre for Talented Youth in affiliation with Johns Hopkins University. In the Fall, she will study for a degree in medicine at Johns Hopkins University.

Joseph C.H. Johnson Nominee Awards: Elkeisha Caisey, Vairi Cassidy, Eugene Dill, Brittany Farias and Scott Kennedy.

Each applicant was nominated by their school Principal and will receive an award of $1,500. Elkeisha Caisey, a Berkeley Institute graduate, will pursue a Bachelor in Human Resource Development and Psychology at St. Lawrence University, Canada. Vairi Cassidy, a Mount Saint Agnes graduate, will study Nursing at York University in Canada. Eugene Dill, a Warwick Academy graduate, will study a Bachelor of Science in Psychology at Saint Mary's University, Canada. Brittany Farias, of Saltus Grammar School, will pursue a degree in medicine at McGill University in Canada. Scott Kennedy, of CedarBridge Academy, will study for a Bachelor's degree in Business Administration at Stetson University in Florida.

Bank of Bermuda Foundation President's Awards for Scholastic Achievement: Scott Kennedy (Premier Award of $15,000). Runners-up: Kelsey Ball, Michelle Conklin, Sierra Dowling, Kyle Ferreira and Feren Simons ($10,000 each).

Scott Kennedy, a CedarBridge Academy graduate, is heading to Stetson University, Florida, to start a Bachelor's degree in Business Administration. Kelsey Ball, of Bermuda High School for Girls, will be attending the University of Virginia to study a Bachelor of Psychology degree. Michelle Conklin, of Bermuda High School for Girls, will study for a Bachelor's degree in Environmental Science at the University of Guelph, Canada. Sierra Dowling, of Saltus Grammar School, is heading to York University, Canada, where she will pursue a degree in medicine. Kyle Ferreira, of Mount Saint Agnes, will attend Wilfred Laurier University, Canada, to study an Honours degree in Business Administration with focus on Marketing. Feren Simons, of Berkeley Institute, will start a Bachelor in Business degree with a major in Spanish and International Business at the University of Tampa in Florida.

Information Technology Scholarship: Uthmani Talbot.

Uthmani, a recent Berkeley Institute graduate, receives the $6,000 award over four years to pursue a Bachelor of Computer Engineering at George Mason University, Virginia.