AS&K'S New Bermuda Web Site Brings Lawyers Into the Internet Age; AS&K's Launches First Internet Site for Incorporation of Bermuda Companies.

High Tech, Business & Legal Editors

NEW YORK--(BUSINESS WIRE)--March 9, 2000

The legal profession took a giant leap into the Internet age as Bermuda's largest law firm, Appleby Spurling & Kempe launched Just AS&K (Inc), Bermuda's first Internet site for the incorporation of Bermuda companies. Just AS&K (Inc) allows the firm's existing and future clients to begin the process of incorporating an offshore company on-line simply by accessing the Just AS&K (Inc) web site at www.justaskinc.bm.

Just AS&K (Inc) simplifies the incorporation process. As a result of AS&K's new technology, clients can now complete an online questionnaire in a secure online environment. AS&K's flagship electronic product takes over from there, automatically preparing the necessary documents for filing with governmental authorities. Even better, Just AS&K (Inc) allows clients to monitor the progress of their incorporation and, if necessary, to communicate throughout the process with AS&K's experts by secure electronic mail.

"The convenience of being able to access the Just AS&K (Inc) web site 24 hours a day, seven days a week, is particularly important in an increasingly global economy," said Peter Bubenzer, head of AS&K's Company Department. "Our clients come from every part of the world. The United States, and in particular New York, is an important source of business for our firm. It is important to us that our existing and prospective clients, wherever they may be, are able to begin the incorporation process at their convenience."

Just AS&K (Inc) gives clients the option of paying the incorporation fee by credit card via a secure payment gateway. Just AS&K (Inc) also allows clients to pay incorporation fees by the more traditional methods of wire transfer, certified cheque or payment through their trust account.

"AS&K is keeping pace with the fast-paced operating environment of our clients by incorporating technology into everything we do," said AS&K managing partner and senior partner Dianna Kempe. "Instead of watching what other law firms are doing, AS&K is blazing a revolutionary path in the legal profession. In an industry hardly known for its aggressive use of technology, AS&K stands out as a leader."

Just AS&K (Inc) is the first of a series of electronic products planned by Bermuda's largest and most innovative law firm. The product is indicative of the firm's leading role in e-commerce.

AS&K's strategic plan calls for a continuous re-evaluation of internal work product, workflow and delivery of services. The firm recognizes the importance of emerging technology and is committed to providing its international clients with an efficient system, operational 24 hours, 7 days a week. This system enables clients to react to market changes and realize their business objectives in a timely manner.

"Just AS&K (Inc) is a great example of how an organization can leverage Internet technologies to change the way they do business," said Chris Trauzzi, Vice President for Web Front Communications Ltd., the firm which developed the system. "AS&K's vision made the technical development easy and has led to a new standard for the delivery of legal services. Our use of Microsoft products ensures that the solution is secure, scalable and easy to use."

"Bermuda is the leading offshore electronic commerce jurisdiction in the world," Kempe said. "The Electronic Transactions Act 1999 is a progressive piece of legislation that sets the standard for all other offshore jurisdictions in the area of e-commerce. We believe that Just AS&K (Inc) further enhances the island's reputation in that regard."

David Lema, Vice President, Electronic Banking Manager, Bank of Bermuda, said: "Just AS&K (Inc) is a living example of how companies can use e-commerce in their day to day working environment to allow their clients to conduct business more efficiently, 24 hours per day, seven days per week. Just AS&K (Inc) is an exciting step for Appleby Spurling & Kempe, and we look forward to working with them and their clients."

"The Internet and new technologies challenge virtually every assumption about the way business is conducted," Partner Warren Cabral, head of AS&K's Information Technology Group, said. "Providing this new method of incorporating a Bermuda exempted company is a perfect example of the important role that technology will play in the development of business. AS&K has embraced this new technology, and in so doing, we have provided our clients with a secure, efficient, convenient way of incorporating a Bermuda exempted company."

Mr. Cabral was a key figure in the drafting of Bermuda's e-commerce legislation and is a frequent author and spokesperson about e-commerce. Mr. Cabral was a presenter at the Offshore E-Commerce Conference in New York during September 1999, as well as at the Offshore E-Commerce Conference at Miami's Fontainebleau Hilton Hotel on February 22-24, 2000.

Bermuda based First Atlantic Commerce is providing secure, real-time transaction-processing services for Just AS&K (Inc). "We are pleased to be a part of this groundbreaking e-commerce strategy, and I believe that the site will pave the way for law firms entering the world of the Internet," says Greg Vasic, President of First Atlantic Commerce.

Appleby Spurling & Kempe

Appleby Spurling & Kempe has offered innovative solutions to complex legal problems for more than 100 years. Today, the firm is Bermuda's largest law firm and a leader in the competitive offshore legal world, and the first Bermuda law firm to embrace the new possibilities provided by the growth of electronic commerce.

Bank of Bermuda

The Bank of Bermuda Limited (Bank of Bermuda) is an international financial institution that provides banking, trust, asset management, fund administration, global custody services, as well as credit card transaction processing for e-commerce, to its global corporate, private and retail clients. Bank of Bermuda is a global leader in e-commerce, and has pioneered credit card transaction processing services for web based merchants since 1995. In November 1999 it was one of the first offshore institutions to offer multi-currency settlement. When VISA or MasterCard system recognizes the transaction as based in Bermuda, it permits settlement on the Island, one of the world's most respected offshore jurisdictions.

For further information on Bank of Bermuda or to establish an e-commerce merchant account, access the Bank's website at www.bankofbermuda.com, or contact David Lema, Vice President, Electronic Banking Manager, Bank of Bermuda on telephone number 441 299 5231 or by e-mail at [e-mail].

First Atlantic Commerce

Bermuda based First Atlantic Commerce Ltd. (FAC) is a leading developer and provider of real-time offshore e-commerce services. FAC processes payment transactions through its FDMS Qualified Internet Payment Gateway cGate(SM,TM) and cGate(SM,TM) Secure, a fully secure, customizable, credit/debit card transaction-processing gateway. The Bermuda Parliament and Senate recently passed FAC's own Act of Parliament, 'The First Atlantic Commerce Act of 1999' which enhances Bermuda's existing e-commerce law and includes a unique legal vehicle, called a 'VirtualCorp', to facilitate funds processing for international merchants. For more information on First Atlantic Commerce's services, visit their web site at www.firstatlanticcommerce.com or contact Greg Vasic at 441-296-5598 or Anne Loxton at 441-294-3403.

Web Front Communications Ltd.

Web Front is an Internet services firm specializing in the strategic planning and development of web application and electronic commerce solutions. Using an innovative approach, Web Front partners with their clients in the planning and building of custom designed solutions. These solutions are built to improve business processes, extend reach, penetrate new markets and improve the customer experience. Web Front has successfully delivered solutions to a wide range of business segments including legal, consumer brands, education, telecommunications and government. Web Front is a member of the NexGen group of companies. For more information on Web Front visit their web site at www.webfront.bm.