RECORD NUMBER OF
AMERICA'S CUP CHALLENGERS
POST PERFORMANCE BOND

Australia, China, France, Italy, Japan, Russia, Spain, Switzerland, United Kingdom and United States Confirm  Challenges to Vie for the Right to Race New Zealand in the 30th America's Cup Match

NEWPORT, RI (January 31, 1998)-- 16 Yacht Clubs from ten countries have forwarded documents relating to the $250,000US Performance Bond to the America's Cup  Challenge Association (ACCA) before the 31 January  deadline, reaffirming their challenge to race against New Zealand for the America's Cup in February 2000.  While paperwork is still being accumulated and verified, the provisional list of Challengers includes:

Aberdeen Boat Club/Spirit of Hong Kong Challenge (Hong Kong, China) Club Nautique Morgien/F.A.S.T. 2000 (Morges, Switzerland) Cortez Racing Association/Team Dennis Conner (San Diego, Calif.) Cruising Yacht Club of Australia/Australian Challenge (Sydney, Australia) Monte Real Club Yates de Bayona/ Real Club Nautico de Valencia/ The Spanish Challenge (Madrid, Spain) New York Yacht Club/Young America Challenge (New York, N.Y.) Nippon Yacht Club/Nippon Challenge (Tokyo, Japan) Royal Dorset Yacht Club/Spirit of Britain Challenge (Weymouth, United Kingdom) St. Francis Yacht Club/AmericaOne Challenge (San Francisco, Calif.)
St. Petersburg Yacht Club/Age of Russia Challenge (St. Petersburg, Russia) St. Thomas Yacht Club/Team Caribbean (St. Thomas, USVI) The San Francisco Yacht Club/America True Challenge (San Francisco, Calif.) Union Nationale pour la Course au Large/Yaka France (Paris, France) Waikiki Yacht Club/Aloha Racing Team (Honolulu, Hawaii) Yacht Club de Cannes/Societe Nautique Grau-du-Roi Port  Camargue/Esprit-Sud Challenge (France) Yacht Club Punta Ala/Prada Challenge 2000 (Milan, Italy)

ACCA is delighted by the strong response.  "We always knew we could count on 9-to-12 challengers to post the bond," stated ACCA President Dyer Jones (Newport, RI), "but this is amazing.  Seventeen of the original 18 Yacht Clubs Societe Nautique Grau-du-Roi Port Camargue merged with Yacht Club de Cannes to form a single challenge are still in the game.  This is going to make for a very exciting Challenger Selection Series."  The one club that did not post the Bond was Société Nautique Rolloise of Switzerland.

What this means for ACCA, which is acting as the organizing authority for the Challenger Selection Series (CSS), is that they can now move forward in finalizing arrangements for the CSS and negotiating television and marketing contracts for that regatta.  As Jones further explained, "This early in the planning stages it is difficult to guess at who may actually reach New Zealand.  The performance bond gives each of the yacht clubs
great incentive to get there.  If they make it, the bond is returned.  If they don't it is forfeited."

The CSS is scheduled to begin in Auckland, New Zealand in late October 1999.  The proposed format includes three round robin series, a semi-final series and one final series.  The winner of the CSS will go on to meet New Zealand in the 30th America's Cup Match beginning 26 February 2000.

The America's Cup Challenge Association (ACCA) is an independent organization formed by the Challenger of Record for the 30th America's Cup Match New York Yacht Club to execute the responsibilities of that appointment.  ACCA's primary objectives as the organizing authority for the Challenger Selection Series (CSS) are: to produce a successful challenger for the 30th America's Cup Match by offering the highest  competition possible during the CSS; and to represent the interests of all Challenging Yacht Clubs in its dealings with Royal New Zealand Yacht Club for that Match.  ACCA also has the responsibility to raise funds to conduct the CSS.