VIRGIN ISLANDS AMERICA'S CUP CHALLENGE
CONSIDERS INCLUDING NEIGHBOR ISLANDS

St. Thomas--November 28 --"We're not in this just to be in it, we're in it to win,"  stated Michael Bornn, co-founder and  Chairman of the Board of Directors of the Virgin Islands America's Cup Challenge (VIACC).  During a recent discussion of the syndicate's progress since it launched the challenge in May of 1996, Bornn reviewed the past and looked to the future. 

"In our minds," said Bornn, "the race for the America's Cup started the day we announced and since then we have had strong winds of support at our backs.  We got off the starting line successfully with a lot of help from Virgin Islanders and now as we approach the first mark, we feel a second wind coming on."

But winning the America's Cup is just part of the goal.  Bornn is passionate about the Marine Program that has been established as part of the Cup campaign.  This is an effort to reinfranchise our island residents who have come to take the sea for granted and have left marine enjoyment and its economic benefits to tourists and "off-islanders."  Under the leadership of Pauline Dawes, the program is making great strides.

While it was clear from his review of the past seventeen months that Bornn is satisfied with the accomplishments to date, it was equally clear that the entire team has their eyes firmly fixed on the horizon.  His allusion to a second wind may signal a future strategy of how best to capture the Cup in the South Pacific and bring it home to the Virgin Islands.

"We've made great strides towards our goal of winning the Cup and staging the next America's Cup defense in the Virgin Islands," said Bornn, as he proceeded to note the achievements of the Challenge.  "Immediately after our launch, we were accepted as a legitimate challenger by New Zealand, the current Cup defenders.  We then put a strong operations team in place, and we've signed corporate sponsorships with Topa Equities, Ltd., The Ritz-Carlton, St. Thomas, Vitel Cellular, Cardow Jewelers, Little Switzerland, Coral World, Bluebeard's Castle, Maximizer Technologies and many more.  We raised $2 million locally.  We have a distinguished design team, led by Cup veteran David Pedrick, in place.  We have a training boat.  Our skipper, Peter Holmberg, is now ranked fourth in the world on the international match racing circuit.  John Cutler, our Vice President of Design & Technology has competed as an America's Cup skipper and is a world-class sailor with a tremendous amount of experience."

As the VIACC has worked towards consolidating its financial and power base in the Virgin Islands, its successes have attracted the interest of other Caribbean nations. "Our neighbors have recognized what is good for the Virgin Islands is good for the Caribbean region," said Bornn.  "And we recognize what is good for the Caribbean is good for the
Virgin Islands."

The Challenge's accomplishments have brought a number of Caribbean neighbors to their door and it may be prudent for VIACC to now open that door.  The America's Cup is a high stakes game played on a global field and it has often been said the race is won on land long before it's contested on the water.  The VIACC is competing with seventeen other challengers, including such world powers as Japan, France, and the United States, for sponsorship and the development of technology.  At this point in every challenger's schedule, fundraising is the major key to success.                                

By uniting the many Caribbean nations that have expressed interest in the Challenge under one goal, the VIACC could greatly enhance its competitiveness.  A Team Caribbean concept would utilize the combined resources of perhaps as many as a dozen of the island neighbors.

The VIACC believes it is currently on a par with the strongest challengers, but to reach the next level will necessitate building on the momentum already established. 

"Realistically," says Bornn, "we can't keep going back to our core supporters in the Virgin Islands for ever-increasing funding.  It makes sense to explore expanding our horizons."

The next two years will be critical times for all challengers.  In just two months, at the end of January each of the challenging syndicates must post a $250,000 performance bond.  It is widely speculated that this may force several of the announced challengers to the sidelines.  In addition to this financial obstacle, large funds will be needed to further develop the challengers' design and technology programs.  It also takes money to train crews, purchase sails and equipment, lease compound space in Auckland, New Zealand, transport, house, and feed crews, and on and on.  Needless to say, the financial obligations of waging an America's Cup campaign are tremendous.

Bornn insisted the VIACC would continue to build on its strengths.  "We will meet the requirements of the January 31 performance bond, we will continue all of our programs, we will be on the starting line in the year 2000, and we will bring the America's Cup to the Caribbean.  The Virgin Islands started all this and that's where it's going to end, with trophy in hand."
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Contact:        Paul Larsen, Larsen Media Group, 203-975-5255 or Arlene Martel, VIACC, 340-776-0921.