Chief Sectretary's Office

E-Commerce Division
Chief Secretary's Office
Isle of Man Government
Prospect House
27-29 Prospect Hill
Douglas
Isle of Man
IM1 1ET
www.ecommerce.gov.im

Date: 19 July 2001

Ref: EC 7.5 / EC 1.12

PRESS RELEASE

ISLE OF MAN APPOINTS FIRST FINANCIAL TO ESTABLISH THE ISLAND AS THE PREMIER E-COMMERCE PLATFORM IN THE OFFSHORE WORLD

First Financial has been appointed to help promote the attractions and capabilities of the Isle of Man as a global centre of excellence for e-commerce.

A key part of their task will be to assist the E-Commerce Division to achieve its two main strategic goals. These are, firstly, to ensure that commercial organisations already located on the Isle of Man embrace e-business solutions and technology and, secondly, to attract more e-business to the Island.

Jeff Watt from First Financial said:

"The Isle of Man is a top-drawer international finance centre as recognised by a number of powerful global organisations including the OECD and G7. Allied to this, it has a wide range of advantages to offer new and existing e-businesses including unequivocal Government support; a state of the art telecommunications infrastructure; and an e-commerce regulatory regime designed to facilitate growth rather than inhibit opportunities."

"Clearly there is a great opportunity to establish the Isle of Man as the number one location for e-business. This is a vital communications task because of the favourable impact it will have on inward investment, employment and economic growth."

Tim Craine, the Director of E-Commerce said:

"First Financial already has a good understanding of the Island's business base and they have demonstrated an excellent knowledge and understanding of the ways in which e-commerce has and will continue to develop. I am confident that they will be able to work well in partnership with Government to raise the Island's e-commerce profile."

First Financial is already retained by the Isle of Man Government's International Services Division to promote the Island's international financial services centre.

For further information, please contact Tim Craine, Director of E-Commerce on tel: (01624) 686395 or e-mail: enquiries@ecommerce.gov.im