TEAM CARIBBEAN TO RACE IN NEW ZEALAND DURING AMERICA'S CUP TUNE-UP
REGATTA IN APRIL

St. Thomas, USVI- February 23- Preparations are currently being made by the Team Caribbean America's Cup Challenge to travel to Auckland, New Zealand, in April to compete in what has been dubbed "The Mini America's Cup Regatta".  Team Caribbean is one of a number of official America's Cup Challengers to be invited by Team New Zealand and the Royal New Zealand Yacht Squadron to the regatta which will run from April 14 to 26.  While there has been no announcement to date about who the competitors will be, the organizers hope to include as many as six Challengers in the event.

"This is an outstanding opportunity for Team Caribbean to race in New Zealand where the America's Cup will be held," said Peter Holmberg, co-founder and skipper of Team Caribbean.  "We'll be racing against our competition for the first time in full size America's Cup yachts.  It also provides us with additional marketing and fundraising stimulus.  The Kiwis are expecting considerable international press and television coverage of
the regatta and that can only help raise our profile."

To prepare for the event and continue the two-year training program, Team Caribbean has acquired two 26-foot Sonar sloops.  While the boats used in the Mini America's Cup Regatta will be two identical IACC (International America's Cup Class) yachts approximately 75 feet in length, Holmberg believes the high performance Sonars are the perfect platform  for practicing fundamental match race sailing.  The Sonars will also be used in Team Caribbean's St. Thomas Marine Program which is dedicated to teaching youths basic sailing and swimming skills.  A third aspect of the Sonar program is their use in helping to fine-tune Team Caribbean's match racing
team which competes on the international match racing circuit.  The Sonars are being kept in the harbor and training will take place around bouys just off the Charlotte Amalie waterfront.

Holmberg plans to select a crew of 14 experienced sailors from the Caribbean and the U.S. mainland for the Mini America's Cup. This will be a preliminary draft of sailors who will have the opportunity to continue their efforts to make the final team.

The format schedule for the Mini America's Cup Regatta calls for six invited teams to race each other in two Round Robins, and then the top two teams advance to the Challenger Finals.  The winner then races Team New Zealand for the Mini America's Cup.

"This is another significant step for Team Caribbean on our way to winning the America's Cup," said Steve Morton, Vice President of Operations.  "Here's an opportunity to deliver some return to sponsors and to prove to the sailing world we are for real.  Hopefully the Mini America's Cup will also help us in our fundraising and sponsorship programs.  Like all U.S.
Challengers at this time, we are looking for a title sponsor and our presence at this regatta should help with our negotiations.  This will give potential sponsors a taste of what being involved in the real America's Cup can mean to them."

While the sailing and marketing programs will focus on the Mini America's Cup for the immediate future, Team Caribbean's design program for the real America's Cup continues under the direction of David Pedrick, whose design contributions to three America's Cup past winners have gained him a reputation as one of the top marine architects in the world.