BARBADOS February 28th, 2007 –John Perry Bujouves, Chairman of Bayshore Bank & Trust (Barbados) Corporation is pleased to announce that Bayshore has entered into a binding agreement to acquire the financial services business of the Barbados branch of CIBC Bank and Trust Company (Cayman) Limited (“CIBC Cayman”). The transaction is expected to close immediately. This acquisition follows recent news of Bayshore acquiring Turks and Caicos Islands based Private Counsel Trust Ltd.