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George F. Jewett Named as
AmericaOne Chairman

SAN FRANCISCO, California (October 24, 1996) — AmericaOne announced today that George F. Jewett, Jr., is the new chairman of the San Francisco-based America's Cup challenging syndicate, replacing founding chairman Jim Clark. Jewett and Lawrence G Finch have both been named to the Board of Directors.

A well-known and highly-regarded San Francisco civic leader, Fritz Jewett is vice chairman of the Potlatch Corporation. His experience with America's Cup campaigns is extensive, beginning with the Intrepid 12-meter syndicate in 1974. He has been a member of the St. Francis Yacht Club since 1965

"The AmericaOne team has the talent and the experience to bring the Cup back to the United States and to San Francisco," Jewett said today. "A successful Cup syndicate is a synergy of people, sailing skills, technological expertise and sponsor support. AmericaOne has made major progress and I'm proud to take over as chairman."

Larry Finch is a general partner of Sigma Partners, a venture capital fund with an office in Menlo Park, CA and Boston MA. Prior to that, Finch founded several high-tech companies. A long-time member of the St. Francis Yacht Club, Finch was chairman of the club's world championship-winning 6-Metre Syndicate in 1991.

"As we strengthen and grow the Board with these valuable new members, I want to recognize the contributions Jim Clark was made in shaping and directing the syndicate," said skipper Paul Cayard. "Jim stepped down because an increase in his business commitments is preventing him from playing a more active role at this time."

Cayard reported that the early growth and development activities of the syndicate are running ahead of expectations. "The commitments made by business leaders of the stature of Fritz Jewett and Larry Finch provide a further major boost," he said. "Corporate leaders, the St. Francis Yacht Club and The City of San Francisco have all responded magnificently to our campaign to return the America's Cup to America."

Next month, AmericaOne will make its first major scouting and training visit to Auckland, New Zealand, current home of the America's Cup. Cayard and his tactician John Kostecki will compete in the Steinlager Cup match racing series in Auckland, November 18-23. Afterwards designer Bruce Nelson will join them and they will spend two weeks training and racing on the America's Cup course for 2000. "This is just the beginning of our extensive program to gather data on the Auckland race track," said Cayard.


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