launch of the Madeline Joell Nest Egg Fund.

Eight primary schools in the public system received grants of up to $10,000 a year for the next five years to supplement reading education.

President of ACE Bermuda Gary Schmalzriedt announced the fund in memory of Ms Joell, a vice president for marketing at ACE and Member of Parliament who died suddenly earlier this year.

Mr. Schmalzriedt said Ms Joell was part of the original team from the company that was looking into establishing the fund more than a year ago.

He said: "I think it was appropriate to announce it in her name. She was a key player in setting up the fund.'' Mr. Schmalzriedt explained local primary school principals submitted proposals, most of them requesting funds for the Reading Counts programme in the Literacy Place curriculum started by the Ministry of Education, this term.

"The objective of the Madeline Joell Nest Egg Fund is to assist primary schools in providing the best foundation for learning for the Island's children,'' he said. "This is an investment in the future and the quality of that future.'' The eight primary schools are: Elliott, Francis Patton, Gilbert Institute, Paget, Somerset, Southampton Glebe, St. David's, and West Pembroke.

Mr. Schmalzriedt added that schools that were unsuccessful in getting the grants would receive advice from the company to boost next year's bidding process.

Education officer Vivlyn Cooper called the fund "very generous'' and said the criteria for selection had been suggested to ACE by principals and teachers.

Mrs. Cooper added: "This was a collaborative effort with many people. ACE is to be commended and the Ministry is grateful. This is a good example of the business community and Government coming together to improve the education of young people.''