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Wilmington Trust Expands Into Grand Cayman And The Channel Islands

Tax-news.com, London

15 September 2000

Wilmington Trust Company, one of the leading wealth management companies in the United States, said it plans to offer multinational companies access to trust services in Grand Cayman and the Channel Islands - two of the world's most advantageous jurisdictions for business transactions.

The addition of both international sites complements Wilmington Trust's established corporate trust offerings in America's most business-friendly jurisdictions, such as Delaware and Nevada. It also reinforces the company's standing as one of the world's leading providers of trust services - particularly on complex financial arrangements involving a combination of domestic and offshore holdings.

Wilmington Trust has earned an international reputation as a leading provider of trust services, with more than 8,700 corporate trust accounts. The company's corporate trust practice serves clients in 50 countries through offices in California, Delaware, Florida, Maryland, Nevada, New York, Pennsylvania, and London. In these relationships, Wilmington Trust provides a variety of trustee, custody, and asset management services.

""Multinational companies value Wilmington Trust's heritage and knowledge of diverse corporate trust services, as well as the access we provide to the world's most favorable jurisdictions," said Emmett Harmon, Wilmington Trust's managing director for Europe. "Our ability to develop creative solutions is critical to clients seeking the best financial structuring opportunities in the world, wherever they may be best domiciled."

Harmon expects Wilmington Trust's Channel Island operations to be a favored and convenient jurisdiction for trust arrangements involving multiple parties throughout the United Kingdom and other European countries. Grand Cayman, one of the world's largest banking centers, is often preferred for transactions by Asian parties, he said. The company has already opened an office in Jersey, and plans to establish an office in Grand Cayman in the near future.

For more information about Wilmington Trust, visit www.wilmingtontrust.com

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