NEW EUROPEAN BUILDER TO BE APPOINTED

Melges Performance Sailboats Inc and the International Melges 24 Class Association today confirmed that Rowen Composites Ltd is ceasing construction of the Melges 24 at its base near Southampton, England, following the company's diversification.

Negotiations are already underway with alternative builders and it is anticipated that a new European Melges 24 builder will be officially appointed in time to commence production for the 2003 European season. In the interim new boats will still be available from Melges Performance Sailboats in Zenda, USA.

Jim Schwerdt, who has worked with the European class for over 10 years, will remain the key point of contact for all European Melges 24 new boat sales, spares and service. Jim is well known to all the European teams and will provide invaluable continuity during the transition to the new builder. Jim can be contacted on E-mail , Tel +44 (0)1794 389130, Mob +44 (0)7768 528698, Fax +44 (0)1794 389131.

An announcement regarding the appointment of the new European Melges 24 builder will follow.

For further press information please contact IMCA Press Officer Fiona Brown, E-mail, Tel +44 (0)7711 718470, Fax +44 (0)1243 372881.