February 25, 2005

RIBCRAFT to Deliver Boats to the 2005 ISAF Team Racing Worlds in Newport

Marblehead, Massachusetts, USA February 25, 2005 - Rigid Inflatable Boat designer and manufacturer RIBCRAFT, today announced that it has signed an agreement with the New York Yacht Club to supply RIBs for the 2005 ISAF Team Racing Worlds to be held this September.

RIBCRAFT will provide more than 20 RIBCRAFT 4.8s for the Team Racing Worlds that will serve as umpire and support boats for the event. As a leading supplier of safety, coach and mark boats to yacht clubs and sailing programs, RIBCRAFT has created a unique sponsorship program for clubs and organizations hosting large events. This program enabled the New York Yacht Club to purchase boats from RIBCRAFT at a discounted price and in turn to pre-sell the RIBs to their members to offset the costs associated with a large event such as the Worlds. As of today, the club has successfully pre-sold all of their purchased RIBs to their membership.

Since debuting its Direct Buying Program for sailing programs in late 2002, RIBCRAFT has continued to recognize yacht clubs’ need for high quality, commercially built safety and coach boats that are not only economically sensitive, but also extremely durable.

“The program we developed for the New York Yacht Club is an excellent example of our continued commitment to the sailing community in striving to provide clubs with unique solutions that meet their needs,” said Matthew Velluto, RIBCRAFT’s Director of Marketing. “Not only have we been able to work with them to furnish boats for the Team Race Worlds, but we’ve provided a mechanism for the club to generate support for this great event. This is a true win win for everyone involved”. He continued, “We are honored to have the opportunity to support the Team Racing Worlds and continue our relationship with the New York Yacht Club as their supplier of rigid inflatable support boats.”

The RIBCRAFT 4.8s ordered for this event have the same configuration as the club’s current 4.8 they purchased for their Team Race Program last spring. Equipped with a 40 HP Honda four stroke engine, this 15’7” boat is ideally suited for regatta management, coaching, or virtually any boating activity.

The 2005 ISAF Team Racing Worlds, to be held September 24 through October 1 in Newport, Rhode Island is expected to draw teams from as many as 20 nations. As the event name indicates, teams of three boats compete head to head to achieve the best overall result. Hosted by the New York Yacht Club, the organizing authority is US Sailing, the United States’ Member National Authority of the International Sailing Federation (ISAF) and ISAF.

About New York Yacht Club and the 2005 ISAF Team Racing Worlds

Organized in 1844, the New York Yacht Club (NYYC) will host the 2005 International Sailing Federation (ISAF) Team Racing World Championship at Harbour Court, its Newport, Rhode Island clubhouse. Opening ceremonies are set for Sunday September 25th, 2005. Racing begins Tuesday September 27th, and the Closing Ceremonies are Saturday October 1st. The NYYC organized the ISAF Youth Sailing World Championship in 1996, the Rolex IMS Worlds in 2000 and the Disabled Worlds in 1998. It will also host the 12 Metre Worlds this summer and the World Blind Sailing Championships in 2006. www.nyyc.org

About RIBCRAFT

RIBCRAFT designs and builds technologically advanced RIBs for the most demanding military, commercial and rescue operations. Offering RIBs starting at 15’, RIBCRAFT’s commitment to operator safety and comfort is found in every craft built here in the United States. Focusing on the customer, RIBCRAFT enables them to customize the boat to the mission. www.ribcraftusa.com

Contact:

Matthew Velluto, RIBCRAFT USA
781.639.9065 mvelluto@ribcraftusa.com