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AMERICAONE BUILDS SECOND INTERNATIONAL AMERICA'S CUP CLASS (IACC) BOAT

New Design Team Developments Fuel Advancements for Boat #2

SAN FRANCISCO, CALIFORNIA -- July 8, 1999 -- AmericaOne, St. Francis Yacht Club's challenger for America's Cup XXX, announced the start of construction on their second International America's Cup Class (IACC) boat. With the completion of their first new IACC boat, USA 49, the AmericaOne design team has been afforded the opportunity to aggressively leverage the latest advancements into the design and construction of Boat #2. Construction will again be handled by Westerly Marine of Costa Mesa, CA.

"America's Cup rules state that each team is permitted to build a maximum of two new boats and as long as I have competed in this event no team has ever won without this type of competitive program," remarks Paul Cayard, AmericaOne Skipper & CEO. "Boat #2's design is optimized for the conditions we will have in January and February during the Louis Vuitton Finals and the America's Cup races. I feel fortunate that our team has the corporate and private backing to be able to implement this plan."

The AmericaOne design team numbers 45 technical professionals. It is comprised of independent marine consultants in addition to 30 personnel from AmericaOne's title sponsors. Hewlett-Packard, Ford and SAIC all have extensive America's Cup experience and through this campaign continue the development of design technology with the goal of building the fastest boat on the water. At the same time, the experience gained working with the entire AmericaOne design team furthers each sponsors' knowledge within their respective industries.

"A number of factors have influenced the design of our second boat," explains Bruce Nelson, AmericaOne's Principal Designer. "All the information learned while training in New Zealand this past winter plus another season's worth of weather data from the NIWA buoy on the America's Cup race course, combined with an additional six months of ongoing design research and development, has been incorporated into Boat #2's design. The core design of USA 49 was locked in last December, like most of our competitors, thus Boat #2's design is significantly newer and more refined for the conditions off of Auckland."

AmericaOne is currently training aboard the '95 IACC boat, oneAustralia, in San Pedro, California. On July 17, AmericaOne will launch and christen their first new IACC boat, USA 49, for America's Cup 2000. The AmericaOne team will spend the summer testing the two boats for the purpose of maximizing the performance of USA 49. In September, the team will move back to New Zealand where they will compete in the Louis Vuitton Cup which runs from October 18, 1999 - February 4, 2000. America's Cup races run from February 19 - March 4, 2000.

About Westerly Marine

Founded in 1970, by Lynn Bowser and Steve Lee, Westerly Marine is a custom builder of high performance, composite, racing and cruising yachts. Westerly has over 29-years experience in new boat development and construction. AmericaOne worked closely with the Westerly team from December 1998 - June 1999 on USA 49. For more information on Westerly Marine visit: www.westerly-marine.com or email us at wmi@primenet.com.

"Westerly is delighted to build AmericaOne's second IACC boat," said Lynn Bowser. "Having built USA 49 gives us a big advantage in building Boat #2. We have worked extensively with our material suppliers and the AmericaOne design team to develop some excellent value added procedures and techniques which we are very pleased to see applied to the construction of the second boat."

About AmericaOne

AmericaOne is dedicated to recapturing the America's Cup by applying U.S. technology in aerodynamics, computer equipment, hydrodynamics, naval architecture, sail design and structural engineering to America's Cup sailboat design. Operating since June 1, 1996, AmericaOne is the challenger on behalf of San Francisco's St. Francis Yacht Club. Official and Supporting technology partners include Hewlett-Packard Company, Telcordia Technologies/SAIC, Ford Motor Company/Visteon and United Technologies Corp. To learn more about the syndicate or the AmericaOne Design Challenge contest visit: http://www.ac2000.org.

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For further information on AmericaOne, please contact:
Gina von Esmarch E-mail: gvonesmarch@americaone.org / Phone:415-474-3425/Fax: 415-474-3571

For further information on Westerly Marine, please contact: Grif Amies E-mail: grif@amies.com / Phone: 949-863-1910 ext. 16/Fax: 949-440-0040



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