ORBIS WORLD BRIDGE CHAMPIONSHIPS DAILY NEWS JANUARY 7-21 BERMUDA 2000 JEAN PAUL MEYER, CO-ORDINATOR / MARK HORTON, EDITOR BRENT MANLEY & BRIAN SENIOR, ASSISTANT EDITORS CHYAH BURGHARD, TEXT LAYOUT EDITOR ---------------------------------------------------------------------- Issue: 5 Wednesday, 12 January 2000 ---------------------------------------------------------------------- Unlucky Danes retain the lead in the Orbis Venice Cup Although surely distracted by the illness of one of their teammates, the Danish women forged ahead in the Orbis Venice Cup, maintaining their lead with a 38-31 IMP victory over China. After 11 rounds, Denmark held down first place, nearly a match clear of second place. Denmark started the day with a loss to Australia, 51-44, but the team rallied for the win against China. Their Victory Point total is 228. Charlotte Koch-Palmund is the player who has been taken ill. She has had some problems for the last eighteen months and felt unwell on Monday. Following consultation with her doctor at home it was decided that she should be examined at the local hospital here in Bermuda. She is most unlikely to take part in any of Denmark's matches over the next few days. We all wish her a speedy recovery. USA 1, holding down second place with 205 VPs, defeated Argentina, 39-27, but lost to New Zealand, 49-9. USA 2, with 204 VPs, won both matches Tuesday, 87-17 against New Zealand and 42-23 against Bermuda. They were tied with Austria, which also totaled 204 VPs after losing to Canada and defeating The Netherlands. Orbis Bermuda Bowl In the Orbis Bermuda Bowl, Indonesia maintained its first-place standing with close wins against Bulgaria and New Zealand. Indonesia's VP total after 11 matches is 210. Right behind them are USA 1, which took the measure of two strong teams to move to within one VP of the lead. USA 1 clobbered Italy, 63-36, in Round 10, and came on even stronger against Brazil in the next match, 74-4. Poland maintained third place despite losing both matches Tuesday -- to South Africa, 72-56, and to Sweden, 33-20. In the Seniors Exhibition, the leaders, in order, were Poland, France and China. ---------------------------------------------------------------------- Right question, wrong answer, good result By Henry Francis When Sandy Low of the North American team sat down to play against China in Round 4 of the Senior Teams, she noted that the Chinese were playing the Precision Club system. She asked if the pair at the other table also were playing a forcing club. Language difficulties got in the way here - she thought her opponent said yes, but he actually said no. The misunderstanding accounts for Sandy's bidding on this hand. Board 1. Love All Dealer North. S T 9 8 4 H - - D T 6 4 C Q J T 6 4 3 S 7 6 3 S J 2 H A K 2 H T 9 8 7 5 D J 8 7 5 3 D K Q 9 C 5 2 C K 8 7 S A K Q 5 H Q J 6 4 3 D A 2 C A 9 West North East South - Pass Pass 2NT Pass 3S (1) Pass 3NT (2) Pass 4S (3) Pass 5C (4) All Pass (1) Transfer to 3NT on the way to a minor suit. (2) Forced bid (3) Shows bad clubs (4) With heavy misgivings Why did Sandy open 2NT with two doubletons? She figured the Chinese South would open a forcing club, and if there was a game in the hand they would find it. She feared if she opened one heart, partner might pass, not realizing the power of her hand. Her spades were strong enough that she feared East would not be able to reopen if North passed. Sandy ruffed the heart ace opening lead and gazed longingly at the four spades in dummy. Then she attacked the job at hand instead of wishing she was in a spade game. "Never give up" is her philosophy. She cashed the ace of trumps and led a second trump to East's king. East shifted to the king of diamonds. Sandy won this and let the queen of hearts ride, pitching a diamond from dummy. Then she led another heart and ruffed out West's king. Suddenly she discovered she not only had made her contract - she had an overtrick. Remember that the Chinese at the other table were NOT playing a forcing club. The Chinese South opened one heart -- and had to play it there when everyone passed. That was exactly what Sandy feared would happen if she opened one heart. Declarer made his contract, but that was an 8-IMP pickup for the Americans. On this deal, from Round 5 of the Seniors competition, Maurice Aujaleu and Pierre Adad of France had most of the high cards, but the Potters, Richard and John, from North America took the most tricks. Board 20. Dealer West. S A Q 9 5 H A J 9 6 D J 3 C J 4 3 S K 7 3 S J 8 4 H Q 4 3 H K 7 2 D A 9 8 6 D K 7 5 2 C A 7 5 C K T 2 S T 6 2 H T 8 5 D Q T 4 C Q 9 8 6 West North East South Aujaleu R Potter Adad J Potter 1C Dble 1NT All Pass With very little that looked promising in his own hand, John Potter decided to try to find his partner's strength -- he led the eight of hearts, which Adad let this run to his king. Adad led a diamond to the ace and a diamond back, Richard Potter's jack winning the trick. He led a club, and John's eight forced the ace. After cashing two diamonds, declarer got out of dummy with a spade. Richard won and led another club, won by declarer with the king. When another spade dislodged the ace, Richard was able to get to John's hand with a club. The return of the heart ten meant that the defense took the rest of the tricks for a one-trick set. The Americans at the other table made 1NT for a 5-IMP gain. Here are the lineups for the teams playing in the Seniors Exhibition event: World Champions -- Karl Rohan, Nissan Rand, Franz Baratta, Christo Drumev, A. Tanev. Australia -- Neville Moses, John Brockwell, John Ashworth, John Mottram, Robert Evans, William Westwood. China -- Gu Xue Hai, Li Jin, Hsu Chen Ting, Tang Houzo, Lu Yulin. France -- Pierre Adad, Maurice Aujaleu, Claude Delmouly, Jean-Marc Roudenisco. North America -- Sandra Low, Marc Low, John Potter, Richard Potter, Jim Barrow, Hugh McLean. Poland -- Sanusz Nowak, Julian Klukowski, Andrzeg Wilkosz, Aleksander Jezioro, Stefan Szenberg; Jan Prochowski, npc. ---------------------------------------------------------------------- Orbis Bermuda Bowl - Round 8 Poland 2 v Brazil On the rebound The Round 8 match between Poland and Brazil in the Orbis Bermuda Bowl figured to be a good one -- both teams had been defeated rather smartly in the previous round. Poland had fallen to Italy, 50-19, and Brazil lost to Pakistan, 35-8. It seemed a reasonable expectation that the teams would be trying to make amends and protect their places in the round-robin standings. The rebounding was done almost entirely by Poland, who took advantage of the seemingly distracted Brazilians for a 67-40 victory. Poland was out front, 32-0, after four boards. The onslaught started with the first deal. Board 1. Love All Dealer North. S K 9 4 H K Q T D Q 9 C A K T 9 2 S J T 8 S A 6 3 H 9 6 5 4 3 H - - D A T 7 6 5 D K J 8 4 2 C - - C Q J 6 5 3 S Q 7 5 2 H A J 8 7 2 D 3 C 8 7 4 West North East South Kwiecien Chagas Pszczola Branco 1C 1D Dble (1) 5D Dble All Pass (1) Negative. The only lead to defeat the contract is a diamond. Marcelo Branco led the C4 and watched in misery as Jacek Pszczola made five trump tricks in each hand, stopping along the way to cash the SA. Plus 550 to Poland. At the other table: West North East South Campos Romanski Villas-BoasKowalski - 1C 2NT Pass 3C Pass Pass 3D 4D 4H 4NT Pass 5D Dble All Pass Had Apolinary Kowalski been able to see his partner's hand, he certainly would have allowed Joao Campos to play in his 5-0 trump fit. When Kowalski came to his rescue, Campos found the correct denomination, at least. Unfortunately for Brazil, Jacek Romanski knew just what to do against the minor two-suiter -- he led a trump. From there, Campos could scramble only ten tricks for minus 100 and 12 IMPs to Poland. Poland struck for another 4 IMPs on Board 2, pushing the Brazilians to an unmakeable part score. This deal was next: Board 3. E/W Game Dealer South. S - - H K T 8 6 D K Q T 9 7 2 C T 9 5 S K Q J T S 8 6 3 H 4 2 H J 9 3 D A 6 4 D 5 3 C A J 4 2 C K Q 8 7 6 S A 9 7 5 4 2 H A Q 7 5 D J 8 C 3 West North East South Campos Romanski Villas-BoasKowalski - - - 1S Pass 1NT Pass 2H Pass 4H All Pass Kowalski's only losers were a club and a diamond. Plus 450 to Poland. At the other table: West North East South Kwiecien Chagas Pszczola Branco - - - 1S 1NT 2C (1) Pass 2D All Pass (1) Transfer to diamonds. Kwiecen's 1NT overcall seemed to take the steam out of Chagas, who made a rather conservative decision to pass 2D rather than mentioning his hearts. Branco made 11 tricks when Kwiecien discarded spades as Branco played diamonds, but it was still a 7-IMP loss for Brazil. On the next deal, Kwiecien misplayed the trump suit in a 4S contract, but his team still gained a swing. Board 4. Dealer West. S - - H 6 5 4 2 D J T 7 6 5 4 C A K Q S K J 8 7 4 3 2 S 6 5 H K J 7 3 H A T 9 8 D 8 D A Q 3 2 C J C 6 5 4 S A Q T 9 H Q D K 9 C T 9 8 7 3 2 West North East South Campos Romanski Villas-BoasKowalski Pass Pass Pass 2C (1) 2S 3D Pass Pass 3H Pass 4H Pass Pass Dble All Pass Campos and Miguel Villas-Boas found their 4-4 heart fit, but Campos could manage only eight tricks and went down two for minus 500. West North East South Kwiecien Chagas Pszczola Branco - 4S All Pass Chagas led two rounds of clubs, the second ruffed by Kwiecien, who entered dummy with the DA to lead a trump. When Branco followed with the 10, Kwiecien erred by putting up the king. Even if he had put in the SJ, Kwiecien might still have gone down. The only correct play on this deal at that point would have been a heart to the ace -- cashing the king first would have meant no second dummy entry. A first round heart finesse, of course, would have been equally disastrous. Anyway, Kwiecien could not avoid three trump losers from that point, finishing down one. Despite the mistake, it was a 9-IMP gain for Poland, now leading 32-0. Brazil finally got on the scoreboard with a 10-IMP gain on Board 6 when Chagas talked the Polish players out of their cold no trump game. Board 6. Dealer East. S A K Q J H T 9 8 6 D 7 3 C J 7 4 S T 4 3 2 S 8 H A K 3 H Q 5 2 D A J T D K 9 8 6 4 2 C 9 5 2 C A Q 3 S 9 7 6 5 H J 7 4 D Q 5 C K T 8 6 West North East South Campos Romanski Villas-Boas Kowalski - - 1D Pass 1S Pass 2D Pass 2H Pass 3D Pass 3NT All Pass Romanski collected his four spade tricks on opening lead, but that was it for the defenders and Campos scored up plus 600 with a successful guess in diamonds. Chagas threw a spanner in the works at the other table. West North East South Kwiecien Chagas Pszczola Branco - - 1D Pass 1S Pass 2D Pass 2H Pass 2NT Pass 3NT Dble Pass Pass 4D All Pass Chagas couldn't be sure his side could take more than four spade tricks, but he knew he wanted the lead, hence the double. It's not difficult to imagine Kwiecien's thinking with his anemic spade holding. Pszczola thought for a long time before passing 4D and the Vugraph panelists were noting that if declarer in 5D pulled trumps and stripped out the major suits, Chagas would have to be alert enough to insert his C7 when a low club was led off dummy, otherwise South would find himself endplayed and the game made. Alas, in the relevant position, Pszczola played the C9 from dummy, covered by the jack, and declarer had to lose two club tricks. He scored plus 130 but still lost 10 IMPs. Poland recovered 13 IMPs on the next deal when Kowalski and Romanski had a short and quick auction to a heart slam (making with a correct guess in trumps), while Chagas and Branco used six rounds of bidding to get to 5H. A subtle but important choice of cards made a difference of 12 IMPs on this deal. Board 10. Dealer East. S A K 8 6 5 2 H 9 3 D A J 6 5 C Q S Q 9 7 4 S 8 H K Q 6 H A 5 4 2 D Q 8 4 3 D K 7 C T 6 C A K J 8 7 5 S J T H J T 8 7 D T 9 2 C 9 4 3 2 West North East South Campos Romanski Villas-BoasKowalski - - 1C Pass 1S Pass 2H Pass 3D Pass 3NT All Pass Kowalski got off to the lead of the SJ, but dummy's S9 kept the defenders from running the suit. When he got in, Campos made a play that would be made at many tables and often does not cost - the C 10. This time, Campos paid dearly. North covered the C10 with the queen, and all of a sudden, South had a club stopper. Campos could do no better than down one. West North East South Kwiecien Chagas Pszczola Branco - - 1C Pass 1S Pass 2H Pass 3NT All Pass Chagas led the S5 to the 8, 10 and queen. At trick two, Kwiecien made the key play - he put the C6 on the table. When the queen popped up, Kwiecien had 10 tricks and another swing for Poland. On this deal, the Polish declarer seemed on his way to down one in a game contract made at the other table, only to be rescued by a strange play by Branco. Board 8. Love All Dealer West. S J T 9 4 H 6 3 2 D 6 4 C A T 8 4 S A Q 6 3 2 S K 8 7 H Q J 5 H A 9 8 7 D T 9 3 D A K J 2 C 9 2 C K J S 5 H K T 4 D Q 8 7 5 C Q 7 6 5 3 West North East South Campos Romanski Villas-BoasKowalski Pass Pass 1D Pass 1S Pass 2NT Pass 3S Pass 4C Pass 4S All Pass North led a low heart, ducked to South's king. With the 3-3 split in hearts, Campos had a parking place for his losing diamond. He made an accurate guess in clubs to land the game and plus 420. At the other table: West North East South Kwiecien Chagas Pszczola Branco Pass Pass 1C (1) Pass 1S Pass 2NT (2) Pass 3C Pass 3S Pass 4S All Pass (1) Polish Club: balanced minimum or any strong hand. (2) 18-19. Chagas led the D6, taken in dummy with the ace as West followed with the 3. Declarer played the SK and a spade to his ace, discovering that he had a trump loser. When Kwiecien next played the D10, Vugraph commentators were certain he was going down, since he would now have to lose one trick in each suit. Something strange happened, however. Kwiecien went up with the DK and played the D2 from dummy. Branco, apparently believing West had started with a doubleton diamond, played the 8. Kwiecien covered with the D9 and Chagas had to ruff with a natural trump trick. Chagas got out with a low heart and Kwiecien was at the crossroads again. If he ducked, Branco would win the HK and play the DQ -- and Chagas would get his trump trick back with a promotion. Kwiecien got it right, however, rising with the HA, pulling North's last trump and getting out with the HQ. Branco won the king and played the DQ, ruffed by West. Kwiecien cashed the HJ and played a club, ducked by Chagas. Kwiecien actually ended with an overtrick, putting up dummy's CK and pitching his other club on the good H9. A curious path to a 1-IMP gain. ---------------------------------------------------------------------- Orbis Venice Cup - Round 9 The Netherlands v USA1 Netherlands and USA1 were both doing quite nicely going into their Round 9 match in the Venice Cup. Board 3. E/W Game Dealer South. S A K T 8 6 4 H 8 4 3 D A 8 7 C K S Q 9 7 5 S 2 H Q 9 2 H K T 7 6 5 D K 9 2 D Q J T 4 3 C Q 4 2 C J T S J 3 H A J D 6 5 C A 9 8 7 6 5 3 For the Netherlands, Anneke Simons opened Three Clubs and Jet Pasman made an aggressive response of Three spades, raised to game. Renee Mancuso led a heart and Pasman ducked this to the queen. Shawn Quinn switched to a trump and Pasman rose with the ace. She unblocked the king of clubs and played a heart to the ace then a diamond to the ace. Next came a heart ruff, the ace of clubs for a diamond pitch, and a low diamond. Quinn won the king of diamonds and played the queen of clubs through. It didn't matter what declarer did, of course. She actually ruffed in with the ten, but had to lose two trumps for one down; -50. At the other table, Randi Montin did not open the South hand. Jill Meyers opened a chunky Two Spades in third seat and played there for +140 and 5 IMPs to USA1. Board 4. Dealer West. S Q T 6 H 8 7 2 D K 7 4 C Q T 8 2 S A K 4 3 S 8 5 H A 5 3 H Q T 9 4 D 9 2 D A Q J 8 6 5 3 C J 9 4 3 C - - S J 9 7 2 H K J 6 D T C A K 7 6 5 West East Quinn Mancuso 1C 1D 1NT 2H 2NT 3D 3S 3NT Pass Two Hearts was forcing and promised longer diamonds. Three Diamonds was also forcing. It looks as though Quinn intended Three Spades as showing spade values and still searching for the best game, while Mancuso described it as showing slam interest. Pasman led a club against Three No Trump and the defense took the first five tricks for down one; -100. At the other table, Marijke van der Pas also opened One Club but her rebid was One Spade. Bep Vriend made an invitational rebid of Three Diamonds over One Spade and van der Pas left her there. Vriend made 11 tricks for +150 and may have been worried that she had had a losing board. Not to worry -- it was actually a 6 IMPs win. Board 6. Dealer East. S 2 H 3 D Q 8 7 6 5 4 C A Q 6 5 4 S J T 4 S A K 9 8 7 6 3 H K 9 7 5 2 H T D K 2 D A J C T 7 2 C K J 8 S Q 5 H A Q J 8 6 4 D T 9 3 C 9 3 West North East South v d Pas Meyers Vriend Montin - - 2C Pass 2D Pass 2S 3H 3S Pass 4C Pass 4D Pass 4H Pass 4S All Pass Two Clubs covered a variety of strong hands, mostly just short of game-forcing strength, or more often a weak two in diamonds. The Two Spade rebid showed a strong hand with spades and when van der Pas supported spades, there was an exchange of cuebids before the Dutch settled in game. The lead was a diamond. Vriend won in hand, drew trumps and led a heart towards the king. She had 11 tricks for +650. West North East South Quinn Pasman Mancuso Simons - - 1S 2H 2S 3D 4S Pass Pass 5C Dble 5D Dble All Pass The auction went much better for North/South here. Pasman judged to bid her two suits even when that meant going to the five level, and right she was. The Americans settled for the sure penalty, but 300 was insufficient and Netherlands had gained 8 IMPs to lead by 14-6. The score had moved on to 15-11 when the next significant swing came along. Board 15. N/S Game Dealer South. S 6 H Q T 7 5 D A J 8 3 C A J 6 3 S Q T 4 S K 9 5 2 H A K J 2 H 9 3 D Q 9 5 4 D K 7 C 9 5 C K T 8 4 2 S A J 8 7 3 H 8 6 4 D T 6 2 C Q 7 West North East South Quinn Pasman Mancuso Simons - - - Pass 1D Pass 1S Pass 2S Dble All Pass Simons led the seven of trumps round to the nine. Ancuso led a heart to dummy and a club to her king, then a club back to South's queen. Simons led ace and another spade to dummy's queen. Declarer played a diamond to her king and cashed the king of spades. Now she had a choice of settling for one down by playing a heart to the king, or trying to make the contract by finessing the heart jack, but risking two down in the process. Everything pointed to the heart queen being offside. For one thing, North could have risen with the diamond ace and cashed two club winners to ensure defeating the contract. Mancuso duly played to the heart king and conceded 100. West North East South v d Pas Meyers Vriend Montin - - - Pass 1D Pass 1S Pass 1NT Dble All Pass Meyers passed over One Diamond but then doubled One No Trump, showing a good hand including diamonds. It seems normal for Montin to pass the double, given that she is sitting over the spade bid, but One No Trump doubled proved to be a good contract. Meyers led her spade to declarer's ten and van der Pas ran the nine of clubs to Montin's queen. She switched to a heart and van der Pas rose with the ace and played a second club to the ten. When that held she played a spade and Montin took her ace to play a second heart through. Again declarer rose, this time with the king and she now played a diamond towards the king. Meyers won her ace, cashed the queen of hearts and exited with a diamond, but the defense simply had nowhere to go for tricks and van der Pas was able to untangle seven winners for +180 and 7 IMPs. The Netherlands led by 22-11. Both East/West pairs bid competently to the slams on Boards 17 and 18, so the score was unchanged going into the last two deals. Board 19. E/W Game Dealer South. S K 9 4 3 H J 7 5 D J 9 5 4 3 C Q S 5 S J T 8 H A 9 8 6 H Q 4 2 D A T 2 D K Q 7 C A K 9 4 3 C 8 7 5 2 S A Q 7 6 2 H K T 3 D 8 6 C J T 6 West North East South Quinn Pasman Mancuso Simons - - - Pass 1C Pass 1NT Pass 2H Pass 3C Pass 3D Pass 4C All Pass Quinn bid out her shape but, partner could do no more than retreat to the security of the club fit. But even Four Clubs proved to be one too high. Pasman led a diamond. Quinn won in hand and cashed the top clubs then gave up a spade. Simons won the queen of spades and cashed the queen of clubs before playing another spade, ruffed. Quinn led to the queen of hearts and when that lost had to concede one down; -50. West North East South v d Pas Meyers Vriend Montin - - - 1NT Dble 2D Pass 2H Pass 2S Dble All Pass One Notrump was mini, 10-12 HCP, and the run-out to Two Diamonds showed either diamonds and a higher ranking suit, or both majors with unequal length. Montin gave preference to Two Hearts, expecting that her partner had the red suits, and Meyers showed that she actually had spades and diamonds by converting to Two Spades. Montin must have been pretty impressed with that development, especially when Vriend doubled. Meyers won the trump lead and played a club towards her queen. Van der Pas went in with the ace and switched to a low diamond to her partner's queen. Vriend tried a low heart and Meyers ran that to West's ace. She now had nine tricks for +570 and 11 IMPs to USA 1. Board 20. Dealer West. S 5 2 H K J 8 7 3 D Q 9 3 C 7 4 3 S K T 9 3 S 8 6 H T H Q 9 5 2 D A K 8 6 5 4 D J T C 5 2 C K J T 9 6 S A Q J 7 4 H A 6 4 D 7 2 C A Q 8 The match was all square going into the final board but now USA1 snatched the lead for the first time since Board 3. In the Open Room, van der Pas/Vriend bid the West and East cards 1D - 1H - 2D - Pass. That contract had to go one off when the club and diamond honours all proved to be offside; -100. Note how well Montin did to pass throughout with the South cards. West North East South Quinn Pasman Mancuso Simons 1D Pass 1H 1S 2D Pass Pass Dble Pass 2S All Pass Simons not only overcalled but then doubled Two Diamonds. Pasman might have bid Two Hearts now, and that would have been a much better spot thanTwo Spades. Against Two Spades, Quinn led a top diamond then switched to her heart. The ten of hearts was covered by jack, queen and ace and Simons led a diamond towards dummy. Quinn took the king of diamonds and led another one. Mancuso ruffed with the eight and declarer over-ruffed. She ducked a spade and Quinn switched to a club for the king and ace. Declarer cashed the ace of spades and looked very disappointed when East showed out. She played the queen of clubs then a heart to the king and another heart. Mancuso cashed her club winner and Quinn had two trumps to come for two down; -200 and 7 IMPs to USA 1. The Americans had won by 29-22 IMPs, 16-14 VPs, but both teams were looking comfortable for the knockouts. ---------------------------------------------------------------------- Anna Maria Torlontano reports Apart from the perfect organisation of this Championship, I wish to congratulate the people of this charming Island for their kindness, their sense of hospitality, their readiness to help and more ... for their total honesty. Just today, I went out and left a very nice blouson jacket at the bus stop by mistake -- right by the side of the road. Miracle of miracles, when I returned four hours later -- can you imagine??? It was still exactly where I had left it. In how many countries would this have happened? ---------------------------------------------------------------------- Congratulations Bermuda! Back to the Future In our continuing account of the World's most famous Championship, we move on two years to the start of an era that was to be dominated by the greatest team the world has ever seen. 12th Bermuda Bowl 1963 - St Vincent, Aosta, Italy Massimo d'Alelio Enthusiastic Italian audiences packed the bridgerama theatre at the Grand Hotel Billia as the formidable Blue Team marched to their sixth consecutive Bermuda Bowl triumph. The format of the two previous Bermuda Bowls was repeated here, with teams playing a 144- board match spread over three days against each of the other three. Three 16-board stanzas were played each day. The four competing teams were Italy, the defending champions, and one from each of the other WBF zones. France had won the European Championships in Beirut, Lebanon, the previous September. Argentina won a playoff made necessary by a three-way tie with Brazil and Uruguay in the South American Championships. The North American team comprised the three pairs who had led the International Trials held in Phoenix, Arizona, in November 1962. The Italian squad contained five members of the team which had won in 1961 and 1962. The newcomer was Camillo Pabis Ticci from Florence, replacing Walter Avarelli who had withdrawn because of business commitments. The other five Italians were familiar names, with 22 world championships between them: Giorgio Belladonna, Pietro Forquet, Benito Garozzo, Massimo d'Alelio and Eugenio Chiaradia. There was one significant change for this championship. The modern IMP scale was in use for the first time, replacing the more limited version produced by the Europeans and used in several previous championships. The Italians and the Americans recorded relatively easy victories over both France and Argentina. France also pounded the South Americans, to leave them still seeking their first win in a Bermuda Bowl match in this, their fifth appearance. The match between Italy and North America was the one the huge crowds of partisan spectators wanted to see. They were not to be disappointed, either by the level of tension or, eventually, by the outcome. The fireworks began immediately. Italy led 7-0 after the first hand, and North America 10-7 with two boards played. The lead went backwards and forwards throughout the first two sets. Part way through set three Italy led by just 7 IMPs. Then the wind suddenly changed and it was all one-way traffic: Board 41. E/W Game Dealer North. S A K T 4 H T 5 2 D K J 4 C K 9 4 S Q J 8 5 S 3 2 H J 8 6 3 H K Q 9 7 4 D Q 6 5 D T 9 C 8 2 C Q J T 6 S 9 7 6 H A D A 8 7 3 2 C A 7 5 3 West North East South Robinson Belladonna Jordan d'Alelio - 1C (i) Pass 2D (ii) Pass 2S (iii) Pass 3C (iv) Pass 5D Pass 6D All Pass (i) Roman Club - 12-16 balanced or various strong hands (ii) Natural positive (iii) 12-16 balanced with spades the best suit (iv) Canap Robinson led a heart around to declarer's ace. D'Alelio finessed the jack of diamonds, drew trumps ending in his hand, and led the nine of spades. Robinson covered with the queen and declarer won dummy's ace. A club to the ace was followed by the seven of spades, covered by the eight and ten. D'Alelio ruffed a heart back to hand and tried the six of spades, but Robinson covered again. D'Alelio won the king of spades and played king and another club. Jordan won and cashed his second club trick; North America +50. Had the four and five of spades been switched, the contract would have made. Even as it was, declarer would have succeeded on an even club break. Having said that, it was not a good slam, needing a trump break with the queen onside, as well as a very favourable spade position to give declarer any chance. But, would the American North/South pair find a making contract? West North East South Forquet Schenken Chiaradia Leventritt - 1S Pass 2D Pass 3D Pass 3H Pass 3NT Pass 4S All Pass The Americans had avoided the six level, but had they reached a making game? Schenken won the heart lead in dummy, finessed the jack of diamonds and ruffed a heart. He then re-entered his hand with the king of clubs and ruffed his last heart. The two top trumps came next, and then the king and ace of diamonds. The ace of clubs brought declarer's total to ten tricks, and a fourth round of diamonds promoted the ten of spades into an overtrick; North America +450 and 11 IMPs to the Americans, extending their lead to 13. A series of small swings (a making partscore in both rooms, followed by Two Spades making by Schenken while Belladonna went three down vulnerable in the same contract at the other table) saw the Americans forge ahead in the final eight boards of the day, outscoring their opponents 36-1. North America won the third stanza 60-12 and with a third of the match completed they found themselves ahead by 37 (118-81), the largest lead for either side up to this point. You could be sure the Azurri would not relinquish their title without a considerable fight. On the fourth board of the second day, a bidding misunderstanding between Robinson/Jordan gave renewed hope to the majority of the spectators and left a considerable dent in the American lead: Board 52. Dealer West. S K Q 7 6 H K Q 9 7 D 7 6 4 C 7 4 S A 4 S J T 8 5 H - - H 8 3 2 D J 9 8 3 2 D K Q 5 C A K Q 8 6 5 C T 9 2 S 9 3 2 H A J T 6 5 4 D A T C J 3 West North East South Forquet Schenken Garozzo Leventritt 2C Pass 3C 3H 5D All Pass Declarer ruffed the opening heart lead, drew trumps, and lost the two obvious tricks for what seemed like a normal result; Italy +600. West North East South Jordan Belladonna Robinson Pabis Ticci 1C Pass 1S 2H 3C 3H Pass Pass 3NT All Pass It is hard to believe that Jordan considered his void an adequate stopper after the opponents had bid and supported hearts, so one can only assume that he was trying to show the diamonds with his Three No Trump bid. Robinson was not on the same page of the script though. Belladonna was not talked out of the heart lead and the defenders took the first seven tricks; Italy +300 and 14 IMPs from nowhere. The Americans regained 10 of those IMPs in one shot when Schenken/ Leventritt bid and made a cold vulnerable game missed by Belladonna/ Pabis Ticci. The Americans won a very quiet fourth stanza by 32-29 and led by 40. Italy then recovered 11 IMPs by bidding a grand slam that was a shade better than a finesse, but by the halfway point the American lead was up to 58. North America had the better of the remainder of the set, but Italy had won it by 49-33 and trailed by only 20 (216-196) with two-thirds of the match played. The Italians gained 2 IMPs on the first board of the final day, but on the second board they committed a mechanical error: Board 98. N/S Game Dealer East. S - - H A T 5 D Q 9 4 3 C K J T 6 5 2 S A 8 7 2 S K Q T 9 5 4 3 H K Q J H 9 3 D A D 8 2 C A 9 8 7 4 C Q 3 S J 6 H 8 7 6 4 2 D K J T 7 6 5 C - - West North East South Forquet Schenken Chiaradia Leventritt - - 2S (i) Pass 3C Dble 4S 5D Pass Pass Dble 5H Dble All Pass (i) Natural weak two opening This rather strange looking auction needs some explanation. After Forquet's natural and forcing Three Club bid, Chiaradia rebid before North had acted. This bid out of turn silenced West for the next round of the auction. Schenken doubled, presumably intending to show clubs and, expecting his partner to have either a good hand or a fit, Chiaradia jumped to game in his strong suit. Perhaps concerned that Forquet's Three Club bid was semi-psychic based on a good spade fit, Leventritt felt he had to come in, just bidding his longest suit. Chiaradia doubled, protecting his partner's enforced pass and Leventritt removed himself (unwisely, as it turned out) to hearts, perhaps hoping that Schenken's double had been a take-out double of spades and that dummy would produce a good heart holding. With the penalty for the bid out of turn paid, Forquet was permitted to express an opinion at this point, which he did with a double. Forquet kicked off with the ace of spades, ruffed in dummy. Declarer played a diamond to the ace and Forquet switched to the king of hearts. Declarer won the ace and returned a trump. Forquet took the trick, cashed a spade trick, and later made his other high trump for two down; Italy +500. West North East South Jordan Belladonna Robinson Pabis Ticci - - 3S Pass 6S All Pass It was unfortunate that this table was in the Closed Room. Had the huge crowds of spectators watching on bridgerama been able to watch events here unfold as they happened, there is little doubt that the betting would have been that the inevitable double-figure swing would go in favour of the Americans. However, both Italian defenders rose magnificently to the occasion. Pabis Ticci led the seven of hearts. Belladonna took his ace and switched smartly to the king of clubs. Pabis Ticci ruffed and the contract was one down; Italy +50 and 11 IMPs -- just 7 behind now. When the dust had cleared at the end of the stanza, the Americans had not only retained their overnight lead, but had added to it. They won the segment 39-38 and were now 21 IMPs in front with 32 boards remaining. The home fans were starting to get edgy. The Italian fans need not have worried. Great champions always seem to find an extra gear when the pressure is on and the Italians shifted up for the penultimate set. Since this was the pivotal stanza of the match, we would like to have brought you more of the hands. However, the whole set was a succession of fairly dull partscore deals. There was only one double-figure swing, but the Italians picked up a couple of IMPs on just about every board. They won the set 44-5, turning the Americans' 21 IMP lead into an 18 IMP advantage for the home team with just one 16-board stanza to play. In the final, set the Italian lead began to grow immediately -- 7 IMPs on the first board and 5 IMPs on the third, now 30 ahead with 13 boards remaining. North America stopped the rot when they recovered 6 IMPs on the fifth board. The fingernails of the hundreds of Italians packing the bridgerama theatre were fast disappearing. Italy gained 3 IMPs on each of the next two boards -- 17 ahead with eight deals left. Board 137. Dealer North. S K 2 H A Q T 8 3 D A Q 8 C T 5 3 S J T 9 4 3 S 8 5 H J 5 H 7 4 2 D T 9 3 D K J 7 C 8 6 2 C Q J 9 7 4 S A Q 7 6 H K 9 6 D 6 5 4 2 C A K West North East South Pabis Ticci Schenken Belladonna Leventritt - 1NT Pass 4NT All Pass Belladonna led a club. Declarer won in dummy, cashed two top hearts, and took a diamond finesse. East won with the king of diamonds and played a second club. Schenken cashed his winners, but no squeeze materialized and he had to concede the last trick; North America +460. West North East South Jacoby Forquet Nail Garozzo - 1H Pass 2D Pass 2H Pass 2S Pass 3NT Pass 4H Pass 4S Pass 4NT Pass 5D Pass 6C Pass 6H All Pass A much more controlled auction carried the Italians to Six Hearts, against which Nail led the eight of spades. Forquet cashed dummy's ace and king of clubs and then played the king of hearts and a second round of trumps to his ace. After ruffing his club loser with dummy's last trump, Forquet reentered his hand with the ace of diamonds and drew the outstanding trump. He ran his remaining trumps, but with the king of diamonds and the spade guard split, there was no squeeze and declarer conceded the last trick; Italy +980 and 11 IMPs, 28 ahead with seven boards left, and the American coffin was just about nailed shut. The remaining hands were mostly flat (or close to it). The Americans gained 13 IMPs on the very last deal of the match, but it was too little, too late and simply reduced the Italian margin of victory. Italy won the final stanza 35-34 and the match by 313-294. For the most part, they had played the match four-handed -- Belladonna and Forquet played throughout, while Pabis Ticci sat out just one set and Garozzo two. The Blue Team had won the Bermuda Bowl for the sixth consecutive time. Indeed, they had not lost a single match in that time. Since 1957, they had played a total of 14 matches in Bermuda Bowl competition, and they had won every one of them. (But for the loss to the USA in 1951, Italy could have claimed a 100% record in Bowl matches). Indeed, the 19 IMP victory over the American team in St Vincent was the Italians' smallest winning margin in any of those matches! ---------------------------------------------------------------------- Appeal Case 1 Event: Bermuda Bowl, Round Robin, Match 4 Teams : New Zealand (N/S) versus Italy (E/W) Committee: Bobby Wolff (Chair, USA), Rich Colker (scribe, USA), Ernesto d'Orsi (BRA),Anton Maas (NLD), John Wignall (NZL) Board 1. Love All Dealer North. S K Q T 4 2 H J D T 9 8 7 6 C Q 4 S J 8 6 S 5 H Q 5 H T 6 2 D K Q 5 2 D J 4 3 C K T 9 8 C A 7 6 5 3 2 S A 9 7 3 H A K 9 8 7 4 3 D A C J West North East South Duboin Crombie Bocchi Cornell - Pass Pass 2C (1) Pass 2H (2) Pass 4NT (3) Pass 5C (4) Dble 5S (5) Pass 6S All Pass (1) Strong: 8-9 playing tricks or 22-23 HCP BAL. or a major two-suiter (18-23 HCP) or a GF in hearts. (2) 5+ spades; 8+ HCP. (3) RKCB. (4) 0-3 keycards. (5) Break in tempo. Opening lead: C10. Result: 6S made six, plus 980 for N/S. The Facts: East called the TD when North raised 5S to 6S, stating that the tray had been on the S-W side of the screen for quite a long time before returning with the 5S bid. North agreed. The TD allowed play to continue. At the end of the play East recalled the TD, who determined that South also agreed to the break in tempo over 5C. North explained that at the time he bid 5C he was somehow under the mistaken impression that hearts were the implied trumps and responded to show his zero keycards. When South bid 5S he realized that his own spades were trumps and with one more keycard than he had shown (the SK) and good trumps (including the queen) he raised to 6S. North further explained that this was the first board of the match and that he had not yet settled down. Due partly to his inattention, partly to his singleton heart and partly to the fact that in their system South's only game-forcing hand must have hearts, he became confused and thought that 4NT was asking in hearts. He insisted that it was the 5S bid and not the tempo that cleared up his confusion. He also told the TD that after the double he thought it was possible that the hesitation had been due to West thinking about a club sacrifice. The TDs consulted a number of players about whether passing 5S was a logical alternative for North. All believed that pass was a logical alternative and that North could not be allowed to bid on after a break in tempo. While divided in their opinions, after considering all of the evidence and the opinions of the consulted players, the TDs decided to adjust the result for both sides to 5S by South making six, plus 480 for N/S. The Appeal: N/S appealed the TDs' ruling. In response to questions from the Committee, the following additional information was obtained. All players agreed that the tray was on the S-W side of the screen following the 5C bid (and double) for at least a minute-and-a-half and possibly for two minutes or longer. North, in settling in for the first match of the day, said he had become wrapped up in the various score cards he was responsible for and was not paying adequate attention to the bridge. Somehow, for reasons he did not fully understand and could not justify, he became confused after South's jump to 4NT and thought South held a game-force in hearts and was asking for keycards with hearts as trumps; thus he made the "correct" response of 5C showing zero keycards. North and South were both firm and clear at the hearing that in their partnership the last bid (or shown) suit in general was assumed to be trumps when someone jumped to 4NT -- and in the present auction that suit was clearly spades. Only after South signed off in 5S did North realize that South intended spades as trumps all along; thus, with his unshown keycard and good trumps he raised 5S to 6S. South said he was thinking of several things during his deliberations. Initially, he did not see the double on his right and was thinking about what sort of hand North could hold with no keycards. He knew North's spade suit should be reasonable (at least SQ10xxx) and slam might still be a good bet. For example, North might hold good enough spades that the king could be finessed or he might not get a club lead, in which case even if there were an inescapable trump loser the club loser might go away on his hearts. Then, when he noticed the double, he had to re-evaluate the situation. With the now-guaranteed club lead he decided against risking bidding slam. The Committee Decision: The Committee members agreed that there had been a clear break in tempo which was far more likely to have been due to South than to West and which made bidding on with the North cards more attractive. They were , however, somewhat divided as to whether pass by North was a logical alternative. Several members believed that South's 5S bid alone was more than sufficient to clear up North's confusion, even without a break in tempo, and that North's extra keycard and good trumps (SKQ10) made 6S a clear choice. Others thought that pass was possible by North since the 4NT bidder is in charge and his partner should not override his decision unless there is an overwhelming reason to do so -- which they thought was not the case here. All members finally agreed that the fact that all of the players consulted and some Committee members thought pass was a logical alternative made that the only defensible conclusion. The Committee sustained the TDs' ruling for both sides: 5S by South made six, plus 480 for N/S. The Committee believes that there are several important points which players should note regarding the decision in this case: (1) While it is entirely plausible that North had an aberration that hearts were trumps, there are other possible explanations for his 5C response. For example, he might have thought that spades were trumps and that 5C showed one keycard (e.g., that he was playing 1430 responses; or that he had bid 5D and not 5C), with the break in tempo alerting him to his error. "Offending" players have the burden of providing very strong (perhaps overwhelming) evidence of the innocence of their actions. Here, reasonable doubt was left in the Committee members' minds. (2) It is possible (likely, in the Chairman's opinion) that North's confusion about hearts being trumps was directly linked to his artificial 2H bid. Players should be aware, when considering playing such methods, that their possible technical advantages do not come entirely free. Such methods carry with them certain responsibilities, such as to remember them, to Alert and fully explain them, and to know when and how they apply in various auctions. Players whose artificial conventions cause problems can expect little sympathy from WBF Appeals Committees when the problems are directly linked to such methods. (3) If North wishes to justify his actions in the presence of a hesitation, then compelling bridge reasons are needed. For example, what if, in the present case, South held this hand? S A J x x (x) H A K Q x x x (x) D x C x Several Committee members suggested that South might bid 4NT with a hand like this, but that his break in tempo after the zero keycard response made this sort of hand impossible and so invited 6S. N/S said nothing to dispel this argument, and it was their job to make their best case (most effective if made immediately to the TD at the table). (4) But the most important lesson for players, especially those in top world competition, is that they are expected to consider the consequences of their actions before making their calls and plays. In Blackwood/Keycard auctions in particular, players should be prepared for any response that could reasonably be anticipated. South should have decided what he would do if North showed zero, one or two keycards before bidding 4NT and should not have needed to think after receiving a response. Of course the double, being somewhat unexpected, afforded South some additional leeway to consider the two extra options (redouble and pass) afforded him-but not the several minutes he ended up taking. If South wished to consider bidding a slam after a 5C response, then he should work that out before bidding 4NT. The time he spent considering this option was to a large extent responsible for this entire problem. North might have gotten away with his error if South had not huddled and South might have gotten away with his huddle if North had not erred, but only if both players had been more careful could this sort of problem have been avoided. In general, players can expect little sympathy from WBF Appeals Committees for tempo problems created through their lack of proper preparation in the auction -- especially in Blackwood/Keycard auctions, which cause many of the tempo problems we have to deal with. ---------------------------------------------------------------------- THE DUTCH LADIES Marijke van der Pas -- Bep Vriend Jet Pasman -- Anneke Simons Martine Verbeek -- Wietske van Zwol Bep Vriend, a bridge teacher from Amstelveen learned bridge in 1965. With her previous partner Carla Arnolds she won the European Ladies Pairs in 1993 and the World Ladies Pairs in 1994. With her she came fifth in theWorld Ladies Pairs in Lille 1998. Since 1974 she has played in 12 European Championships and in the last 5 Olympiads. Since 1994 she has been partnering Marijke van der Pas. Bep and her husband Anton Maas (a frequent member of the Dutch OpenTeam) form one of the Dutch leading Mixed Pairs. In 1994 Vriend-Maas with van der Pas-Tammens won the European Mixed Teams. In 1998 Vriend-van der Pas were members of the team that won the gold medal at the last European Union Championships in Salsomaggiore, Italy. After Perth 1989 (silver),Yokohama 1991 and Tunisia 1997, Bermuda 2000 is her 4th Venice Cup appearance. Bep Vriend is a honorary member of the Dutch Bridge Federation and in April, 1998 she received for her merit for bridge a Royal decoration. Marijke van der Pas from Utrecht, has been playing bridge since 1967. She first played in the Dutch Ladies team in 1979. With her previous partner Elly Schippers she won the European Ladies Pairs in 1980. She played 11 European Championships and the last 5 Olympiads. She is a bridge journalist and also works for the Dutch Bridge Magazine. Marijke is living together with Jaap Trouwborst, captain of the Dutch Open Team. Since 1994 she has been partnering Bep Vriend. In 1994 van der Pas-Tammens with Vriend-Maas won the European MixedTeams. In 1998Vriend-van der Pas were member of the team that won the gold medal at the last European Union Championships in Salsomaggiore, Italy. After Perth 1989 (silver), Yokohama 1991, Tunisia 1997, Bermuda 2000 is her 4th Venice Cup appearance. Jet Pasman comes from Broek in Waterland, a small village north of Amsterdam. She started bridge in 1974. From 1989 to 1993 Jet was captain of the Dutch Ladies team during 3 European Championships, one Olympiad and 2 Venice Cups. Since 1979 she has been partnering Anneke Simons. As a player Jet represented the Netherlands in 5 European Championships and 2 Olympiads. Jet Pasman, a sports teacher, is married to the coach of the Ladies team: Chris Niemeijer, a former player of the Dutch Open team. In 1998 Pasman-Simons were member of the team that won the gold medal at the last European Union Championships in Salsomaggiore, Italy. After Tunisia 1997, Bermuda 2000 is her 2nd appearance in the Venice Cup. Anneke Simons, a personnel manager, lives in Amsterdam together with Kees Tammens a bridge journalist and their son Bas aged 17. Anneke learned bridge at the age of 20 and since 1979 she has been playing with Jet Pasman. In 1988 she gave up bridge for four years. Anneke played 5 European Championships and 2 Olympiads. In 1998 Simons-Pasman were member of the team that won the gold medal at the last European Union Championships in Salsomaggiore, Italy. After Tunisia 1997, Bermuda 2000 is her 2nd appearance in the Venice Cup. Wietske van Zwol, a native from Joure in the very north of Holland is now living in Tilburg in the southern part of the country. She is married to Carel Berendregt and works as a business economics researcher. In 1982 she learned to play bridge. From 1995 until the 1997 European Championships in Montecatini Wietske played with Ine Gielkens. With her she won the European Union Ladies Pairs in Belgium in 1996. For the 1997 Tunisia Venice Cup Wietske renewed her partnership with Martine Verbeek. Wietske played in 3 European Championships and in one Olympiad. In 1998 van Zwol-Verbeek were member of the team that won the gold medal at the last European Union Championships in Salsomaggiore, Italy. After Tunisia 1997, Bermuda 2000 is her 2nd appearance in the Venice Cup. Martine Verbeek born in Amsterdam, is living together with Ron Pannebakker in Rotterdam. She learned bridge at age 14. Martine works as a book-keeper in her own administration firm. For the Venice Cup in Tunisia 1997 she made her debut in an international championship by renewing her partnership with Wietske van Zwol with whom she played from 1992 to 1994. In 1998 Verbeek-van Zwol were member of the team that won the gold medal at the last European Union Championships in Salsomaggiore, Italy. Martine played in 1 European Championship (Malta 1999). After Tunisia 1997, Bermuda 2000 is her 2nd appearance in the Venice Cup. ED FRANKEN, lives in Haarlem (west of Amsterdam). He is the team manager and captain of the Dutch Ladies Team since the European Championships in Vilamoura, 1995. CHRIS NIEMEIJER is the coach of the Dutch Ladies Team since 1987. He is married to Jet Pasman and is a former player of the Dutch Open team. ---------------------------------------------------------------------- Roofpreading Graham Fenton is proofreading the Daily Bulletin, so now we have someone new to blame for any mistakes that appear! ---------------------------------------------------------------------- Results & Online Vugraph If you want to follow the results on the internet or see the online Vugraph simply go to: http://www.bermudabowl.com/ ---------------------------------------------------------------------- Obituary Rita Oldroyd, one of Great Britain's finest ever women players died on Monday. She won European Championships in 1975 and 1979 and a bronze medal in Valkenburg in the 1980 Olympiad. She was the first women to become a Grandmaster of the English Bridge Union. ---------------------------------------------------------------------- INVESTING IS OUR STRONG SUIT A daily column on investing by Orbis Investment Management Limited You may meet a senior representative from Orbis Investment Management Limited at the hotel. To make an appointment please contact the hospitality desk or call the Churchill Suite, room phone: 7554. Value investing (the Orbis way) Yesterday we briefly discussed the various approaches to investing. We primarily focus on equity investing. We mentioned that here at Orbis we believe that we can add to returns by active investment decision-making. Our philosophy is value-based, meaning that we think that the best opportunities are found by indentifying those shares that are at lower than historically normally levels when compared to the company's intrinsic value and current circumstances. The process we use to select equities for our portfolios from the thousands available is disciplined and based on decades of experience. Research Driven. Equities are selected using extensive proprietary investment research undertaken by the Orbis. Orbis devotes a substantial proportion of its business efforts to detailed "bottom up" investment research conducted with a long-term perspective, believing that such research makes superior long-term performance attainable. Value Orientation. This research is intended to enable Orbis to invest in equities which offer superior fundamental value. Orbis determines whether an equity offers superior fundamental value by comparing the share price with an assessment of the equity's intrinsic value. The lower the price of a share is when compared to its assessed intrinsic value, the more attractive Orbis considers the equity's fundamental value. It is our experience is that over the long term equity investing based on this approach offers superior returns and reduced risk of loss. Share Selection. Orbis' search for superior fundamental value is facilitated by the computerised screening of equities based on quantitative considerations. Orbis maintains a database of key information, including company fundamentals and share prices, on approximately 7,000 of the world's most marketable equities. These represent the target universe from which most of the portfolio is selected. The database comprises fundamental data which, wherever possible, extends back over 25 years in keeping with the long-term orientation of our research, and share prices which are updated daily. Orbis has developed quantitative models which use this database to estimate the total rate of return offered by each equity for the next four to five years, based on the prevailing share price. This, together with an analysis of macro-economic and investment trends, provides a preliminary assessment of the shares in the target universe which seem most attractive. Additional equities that appear intriguing are identified by anticipating economic and corporate developments. This approach helps Orbis to focus its more time-consuming, non- quantitative equity research on the most promising sectors, themes and equities. Equities which are considered promising are subjected to "bottom up" investment analysis. The starting point is to eliminate those equities which have fallen out of favour for sound and enduring reasons (for example, the shares of companies which are poorly managed or vulnerable). The equities, which are not eliminated by this pre- screening, are subjected to intensive qualitative investment research. This entails evaluation of factors such as the company's perceived ability to generate superior growth in cash flow, earnings and dividends in the projected economic environment, the quality of management, its historical record, the company's competitive environment and the strength of its balance sheet. This culminates in an assessment of the equity's intrinsic value. Orbis generally takes a four to five-year view when purchasing equities. We will not usually trade for short-term gains, although established positions may be reduced when we believes that a share is overbought, or added to when a share is considered to be oversold. ---------------------------------------------------------------------- World Championship Book - Bermuda 2000 The official book of these championships will be published during the summer (probably June). Principal analysts will be: Eric Kokish (The Final) Brian Senior (The Semifinals) Barry Rigal (The Quarterfinals) with guest contributors including Henry Francis. There will be a wealth of good hands, including every deal from the finals and semi-finals, photographs and statistics -- including a complete listing of all participants in all four events. On publication, the price will be $30 plus p&p. For the duration of these championships, buy at the special price of $25 with free postage and packing. Please see Elly Ducheyne in the Press Room to place your order. ======================================================================