Bermuda one big advantage, Premier the Hon. Sir John Swan said yesterday -- a familiar face at 10 Downing Street.

But Sir John, Opposition Leader Mr. Frederick Wade and National Liberal Party Leader Mr. Gilbert Darrell agreed there wasn't likely to have been any major shift in British policy towards the Island even if Mr. Major had fallen.

Sir John, head of Bermuda's own conservative United Bermuda Party, noted that the Conservative Party has been in power throughout his own ten years as Premier.

And while he only took over from Mrs. Margaret Thatcher last year, Mr. Major has already visited the Island for a summit meeting with US President Mr.

George Bush.

"Obviously, for a number of years I've been working with the Conservative Government,'' said Sir John, who dashed off a letter of congratulations to Mr.

Major yesterday.

"We have to work with whatever Government comes to power, but we do have extensive familiarity with the Government that's there now. It's easier to work with someone that you know. We know what their philosophy is on territorial arrangements and things like that.'' If a new Labour Government had been elected, he said, "we'd have to determine what their philosophy was.'' In a separate press statement, Sir John said he has established "a cordial working relationship'' with Mr. Major "It is my belief that the historic and longstanding ties between Bermuda and Britain will be strengthened as a result.'' He said he would continue to work with Mr. Major and his colleagues to ensure `that Bermuda's best interests are well-served and protected.'' Mr. Wade accurately forecast the result -- he assured Sir John at a luncheon on Thursday that the Conservatives would gain a small majority. But as head of the Island's own labour party, he said, "I'm disappointed that Labour did not come through.'' As far as Bermuda was concerned, Mr. Wade said, the outcome probably made little difference. Indeed, a Foreign Office official who was recently in Bermuda had reported that the Labour team handling Commonwealth and Dependent Territories affairs planned no changes.

But Labour was more likely to push Britain deeper into Europe more quickly, Mr. Wade said, which might distance it further from Bermuda.

And it might have had some affect on the sort of person who next inhabits Government House, he said.

National Liberal Party Mr. Gilbert Darrell agreed the British election outcome would have little impact on policy towards Bermuda. "There would have been some change but there's an old saying that Britain never exports her political philosophy,'' Mr. Darrell said.

"The British Government has already said to Bermuda: `You can have independence if you want it.' I don't think if Labour had won that would have changed one way or the other.'' Mr John Major.