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Police in a press release said the men were fatally shot on the Avenue of the Republic, in the vicinity of the New Building Society, after one of them opened fire on the patrol with a 9 mm handgun.
The statement said that at about 00:45 hrs, the two men were seen walking north along the western pavement on Avenue of the Republic.
One of them in dreadlocks, turned around, saw the Police patrol and whipped out a pistol from his waist and discharged several rounds at the Police patrol, the release said.
The patrol returned fire and both men were hit and collapsed on the pavement.
They were taken to hospital where both were pronounced dead on arrival, the Police said.
According to the statement, the man who whipped out the 9 mm pistol was identified as Junior Reece called "Knuckle" (age and address unknown).
Police said Reece was a prime suspect in the shooting of a Policeman on Croal Street about 08:10 hrs on Monday, January 20 last; the murder/robbery at Ketley Street, Charlestown, Georgetown, on Thursday January 23 last; the murder/robbery at Broad Street, Charlestown on Sunday, February 2 last and at least two other robberies under arms.
The other man (age and address unknown) was identified as Gary Jobe, Police said.
"The serial number of the 9 mm pistol was filed off while seven 9 mm spent shells were found at the scene and two live 9 mm rounds were found in the magazine of the pistol, which was in the deceased's possession," the release said.
Police said investigations were continuing.