TORTOLA, British Virgin Islands--(BUSINESS WIRE)--April 11, 1996--The Financial Services Department of the British Virgin Islands (BVI) government has established a new site on the Internet's World Wide Web.

The web site will provide fast, easy access to updated information on the financial service offerings and business environment that set the British Virgin Islands apart as a leading offshore investment center. The site can be accessed by pointing a web browser to (http://www.bvi.org).

"This web site stands as another example of the BVI's leadership in providing current and potential customers with global access to its services," said Robert Mathavious, the BVI's Director of Financial Services. "It also reinforces our commitment to quality, reliability, efficiency and accountability -- characteristics that have cemented our reputation as the top offshore corporate domicile."

Over the past ten years, the BVI has become one of the most flexible and responsive providers of offshore financial services such as corporate domicile, insurance, banking, mutual funds and limited partnerships. The BVI's policies and legislation have all been developed in close partnership with the private sector to ensure that they meet the needs of the international financial community. Through this partnership, the BVI government has established sophisticated and efficient supervision and regulation to safeguard the integrity of the jurisdiction while creating an operating environment that is highly attractive to private enterprise.

The web site provides a quick, efficient way for the international financial community to review the major advantages of establishing an offshore presence in the BVI, such as its innovative and flexible legislation, its strategic location and strong service infrastructure, and its government's record of successful collaboration with the private sector. The site also lists contacts who can provide additional information on forming a business partnership with the BVI.

In establishing its new site, the British Virgin Islands is capitalizing on the World Wide Web's rapid growth as a vehicle for reaching key decision makers in the international business community. The BVI's site has been designed in a simple, straight-forward style specifically to meet the need of international and financial professionals for fast, relevant and easily digestible information.

Since the adoption of its pioneering International Business Companies (IBC) legislation in 1984, the British Virgin Islands has firmly established itself as the world's premier corporate domicile and is regularly undertaking programs to expand its financial service offerings to meet the needs of international financial markets. With more than 180,000 companies registered in the jurisdiction, the BVI offers superior asset security and highly competitive costs to customers in corporate domicile, insurance, mutual funds, limited partnerships, banking, trusts and a number of other sectors.

As a British Dependent Territory, the BVI is responsible for its own internal self-government while offering all the security and stability traditionally associated with the British flag. It is the only Caribbean Dependent Territory to which the British Government has devolved responsibility for developing and managing its financial services industry.

To access the BVI Financial Services Department's site, point your web browser to http://www.bvi.org.

CONTACT: New York:

Robert Becton, 212/546-1427

Pete Winkler, 212/546-1685

or

London:

Nicholas Walters, 44-171-351-2400

Penny Eglin, 44-171-351-2400

Hong Kong

Raj Seth, 852-2510-6888

COPYRIGHT 1996 Business Wire

COPYRIGHT 2004 Gale Group