DEVOTI SAILING LTD. TO BUILD MELGES 24 IN EUROPE

Melges Performance Sailboats Inc and Devoti Sailing Ltd today announced that they have reached agreement for Devoti Sailing to become the official European Builder of the International Melges 24 Class.

Devoti Sailing Ltd, headed by Olympic Finn legend Luca Devoti and his partners Tim Tavinor and Roman Teply, is one
of the most highly regarded one design boat builders in the world. Formed by Devoti and Tavinor in 1992 the company
is world renowned for the high quality of its products, which include the Finn, 470, Star and Musto Skiff classes. "We are delighted to have Devoti Sailing Ltd on board as our new European partners." commented Melges Performance Sailboats President Harry Melges, "With the Melges 24 Class continuing to grow rapidly in Europe it was essential that we find a new builder with both the technical ability and the professional commitment to support the class fully. Devoti Sailing's reputation is second to none and we have complete confidence in their ability to deliver both the product and the customer support the Melges 24 Class deserves."

Devoti will commence production of the Melges 24 immediately at their factory in Poland and anticipate launching the
first new boats early in 2003. Members of the Devoti team have already spent time at the Melges Performance
Sailboats yard in Zenda, USA, learning the finer points of Melges 24 construction. "We are currently shipping the
Melges 24 moulds to our facility and preparing the yard to start work. We aim to launch the first Devoti built Melges 24
just after Christmas." Said Luca Devoti. "As part of our commitment to the class Tim, Roman and I will all be racing
Melges 24s regularly to ensure that we not only understand the technical requirements of the boat but also to keep a
finger on the pulse of class activities and owners’ needs."

Devoti Sailing Ltd will be present at the Paris Boat Show from 7-16 December in association with the French Melges 24
Class Association. "The International Melges 24 Class is delighted that Devoti Sailing is confirmed as the new builder
and that Luca Devoti has immediately demonstrated his personal commitment by spending ten days at the Paris Boat
Show, where a Melges 24 will be exhibited." Said IMCA Chairman Henri Samuel.

For further information about Melges Performance Sailboats, Devoti Sailing and the Melges 24 class please contact
IMCA Press Officer Fiona Brown on Tel +44 (0)7711 718470, e-mail Fiona.Brown@melges24.com or visit
www.melges.com, www.devotisailing.com or www.melges24.com.