News Release

AmericaOne ADDS THE SOUGHT AFTER '95 CUP CHALLENGER ONEAUSTRALIA TO ITS 2000 AMERICA'S CUP CAMPAIGN

Second Fastest Boat in '95 America's Cup Affords AmericaOne Significant Advantages in Design Program

SAN FRANCISCO, CA — AUGUST 10, 1998 — AmericaOne beat out several other challengers for the charter of oneAustralia, the second fastest boat in the '95 America's Cup, and the purchase of all associated equipment. Unlike any of the other boats available to America's Cup syndicates for training, all those vying for oneAustralia knew the clear advantages this package brought to the table (see outline below).

Upon concluding favorable on-sight inspections of the boat and shore base equipment in Australia, AmericaOne COO Bob Billingham reported, "The boat itself is in excellent condition having been stored indoors. The deal includes a significant portion of the equipment needed to run an America's Cup base, as well as a boat that strongly adds to our design program. AmericaOne are very fortunate as this is the best scenario of one-stop shopping for quality merchandise that one could ever expect to find."

Prior to sailing in the '95 America's Cup in San Diego, oneAustralia conducted a considerable amount of training in heavy-air conditions in Queensland, Australia, which will play a significant role in furthering AmericaOne's efforts by providing a benchmark for the team's first new International America's Cup Class (IACC) boat (due to launch in May 1999). Optimal two-boat testing will be under way in Spring 1999. AmericaOne will gain yet another advantage with the acquisition of oneAustralia (AUS 31) which will be to allow the design team an additional five months of development and speed maximization time before building the second boat.

John Bertrand, former skipper of oneAustralia and 1983 America's Cup winner, commented, "The acquisition of AUS 31, the fastest boat on the water next to Team New Zealand's, is going to be a good card in AmericaOne's hand as it prepares for the Cup. They continue to make very calculated and sure-footed decisions and there is no doubt in my mind that they are one of the top U.S. contenders attempting to wrest the Cup from the Kiwi's in 2000. This is going to be an incredible challenge of strength and strategy." A few of the top line items included in the 10 containers of the oneAustralia package are:

• 35 Ton Portal Crane
• 7,000 Square Foot Metal Building/Sail Loft
• Opera House: a fabric structured hospitality tent bearing its original name from '95 America's Cup.
• Equipment & Tools: includes complete racing sail inventory, running rigging, two masts, three booms, sewing machines, complete machine shop, radio communications system and fully equipped electrical shop.

AmericaOne will actively train aboard oneAustralia on the America's Cup race course from January-February of 1999 in Auckland, New Zealand. The IACC boat along with some of the equipment from the oneAustralia package will be shipped in March 1999 from the AmericaOne base in Auckland to Long Beach, California. In April, the AmericaOne team will move to Long Beach where they will mobilize the compound and anticipate the launch of their first boat for the America's Cup 2000 challenge.

AmericaOne, is dedicated to recapturing the America's Cup through a commitment to excellence, utilizing the power of U.S. technology including aerodynamics, hydrodynamics, sail design, naval architecture and structural engineering. Operating since June 1, 1996, the AmericaOne team is comprised of thirty-six people actively working in design/technology, operations, sailing, marketing, media and public relations. To learn more about AmericaOne visit our web site at www.ac2000.org.

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For additional information on AmericaOne, contact:

Gina Von Esmarch	E-mail: gvonesmarch@americaone.org
Phone:	415-474-3425
Fax:	415-474-3571

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