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       12/02/97:  VIACC Forms Team Caribbean
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VIRGIN ISLANDS AMERICA'S CUP CHALLENGE
FORMS TEAM CARIBBEAN

--Announces Puerto Rico's Club Náutico de San Juan as Inaugural Member--

St. Thomas -- Dec. 02, 1997 -- The Virgin Islands America's Cup Challenge (VIACC)  announced today the formation of "Team Caribbean" to expand and strengthen its effort to win America's Cup XXX in the year 2000.  While describing the details of this new initiative, VIACC officials reported that Puerto Rico's Club Náutico de San Juan has signed on as the inaugural member of its Caribbean Island Alliance.  By enlarging its geographic and financial base, Team Caribbean will be better prepared to defeat the established sailing powers from Europe, Australia, the United States and Asia while remaining committed to the team's basic tenet of presenting the first America's Cup multicultural and multiracial challenge.

"Signing the prestigious Club Náutico de San Juan as our initial member of Team Caribbean is a major leap forward," stated Steve Morton, Vice President of Operations.  "This distinguished club of watersports enthusiasts who understand competition and the efficacy of uniting under one banner to win sport's oldest trophy gives us an entrée to Puerto Rico and its 3.8 million people. This is an island of only 100 by 35 miles, but it had a Gross Domestic Product of $25 billion and is home to many triple-A corporations which have done business there for decades.

For example, Puerto Rico produces about half of the medicines sold in the United States and almost every major U.S. mainland-based drug company has a presence in Puerto Rico."

Club Náutico de San Juan, established in 1929, is reminiscent of those European clubs, like the Spanish "club náuticos", which successfully combine watersports and social activities.  Perhaps best known for the celebrated International Billfish Tournament it has hosted for the past 45 years, the Club welcomes hundreds of men and women from around the globe to Puerto Rico every year.

As evidence of the Club's sporting and competitive membership, commodore José "Pepe" Terrassa was in Kenya, East Africa,  participating in the International Light Tackle Tournament when the final agreement on joining Team Caribbean was made.  Richard  Christiansen, a member of the Board of Directors, spoke for Club Náutico de San Juan:  "We are delighted to be the inaugural member of Team Caribbean and we look forward to helping this effort in every way possible.  There is no question that including more nations from our region strengthens the Challenge considerably."

Morton went on to say that ever since the Virgin Islands America's Cup Challenge was formed in May of 1996, its Caribbean neighbors have become increasingly attracted to its ideals.  "They recognize that what's good for the Virgin Islands is good for the Caribbean, and we recognize that what's good for the Caribbean is good for us.  By combining the resources of the Caribbean islands, we will be more competitive.  In turn, we offer those islands which join Team Caribbean the opportunity to participate in a prestigious global sporting event. They will also share in the opportunity to showcase the Caribbean as a marine destination, tourist mecca, and as a diverse, multicultural region dedicated to winning a trophy that symbolizes excellence."

To join the Caribbean Island Alliance, the Virgin Island neighbors must give their best efforts to introduce Team Caribbean officials to potential donors and corporate sponsors, to actively support and promote Team Caribbean for the duration of the campaign, to raise funds for Team

Caribbean, to initiate grass roots fundraising initiatives, to establish a Team Caribbean committee to oversee all America's Cup Challenge events, and to elect a chairperson to serve as direct liaison with Team Caribbean management. 

Club Nautico de San Juan offers Team Caribbean participants a  116-slip marina, an elegant three story "Casa Club", warm hospitality,  and the sapphire blue waters on which to train for the America's Cup  on a year-round basis.

Although some observers of America's Cup history viewed the  announcement of a challenge from the Virgin Islands with more than a healthy skepticism, the past year and a-half of significant accomplishments has turned much of the skepticism to admiration.  New Zealand, the current Cup defender, has accepted the challenge as a legitimate challenger.  A strong operations team is in place. Co-founder and designated skipper Peter Holmberg is currently ranked fourth in the world in match racing.

John Cutler, an experienced America's Cup skipper and world-class sailor, has signed on as Vice President of Design & Technology.  More than a dozen major corporate sponsorships have been signed to date with more than $3 million raised locally.  A distinguished design team, led by Cup veteran David Pedrick, has been assembled.  A training boat, the former Stars & Stripes `92, was purchased and on board training has been underway.  The Holmberg-led match racing team won four major regattas this year.

Team Caribbean also counts as one of its greatest assets the sailing conditions of the region.  Wind, sea, and weather conditions are optimal for year-round race training.  And sailors who have sailed in the Caribbean and in Auckland Harbor, the site of the next America's Cup, often compare the two areas as almost identical in racing conditions.

Advantage Team Caribbean. While 18 challengers for the America's Cup from 11 nations have been announced, few can boast as many accomplishments, as unique a story, or as many assets as the "little" team from the Caribbean.  That's "little" as in the mouse that roared.

For more information, please contact: Paul Larsen, Larsen Media Group at 203-975-5255 Arlene Martel, Team Caribbean, 340-776-0921 Marely Gutierrez, Club Nautico de San Juan,  787-722-6624

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