CLV Clipper Ven.

RNS Number:4588D
Clipper Ventures PLC
10 January 2000

                                                              
                     CLIPPER VENTURES PLC
                               
           FORMATION OF INTERNET/E-COMMERCE COMPANY


Clipper  Ventures  plc  ("Clipper Ventures"),  the  AIM-quoted
yacht  racing and branded boating event company, has formed  a
company  to be funded independently, clippertele.com  plc,  to
develop    branded    internet,   e-commerce    and    related
telecommunications  services  specifically  targeted  at   the
sailing and powerboat communities.  Clipper Ventures will hold
a controlling interest.

The  new company aims to be an electronic focal point for  the
UKs  3.4 million boat owners and the 8 million regular active
participants  in  the  countrys boating  community.  It  will
initially  provide internet portal services available  to  the
UKs  16  million internet users, but will rapidly  develop  a
full  range  of  e-commerce, technology and telecommunications
services aimed specifically at the boating community  in  this
country  and  overseas. At todays London  International  Boat
Show,  Clipper  Ventures  is launching  its  new  web  site  -
www.clipper-ventures.com.

Clipper  Ventures previous presence on the  internet  started
four  years  ago, and included both a corporate website  (with
some e-commerce capabilities for Clipper branded clothing)  as
well as a specific racing website for the Clipper 98 round-the-
world  yacht race, www.clipper-racing.com.  For the  ten-month
duration  of  the  race, these sites provided daily  tracking,
weather  reporting and updates from the participating  yachts,
and  were regularly accessed by family, friends and supporters
with over half a million page impressions per month. With  the
Times  Clipper 2000 race starting from Portsmouth  in  October
this  year, which has The Times as lead sponsor and will  have
eight  UK  cities  as individual boat sponsors,  the  expected
audience  is  greatly expanded. Additionally,  clippertele.com
will  be  providing greatly increased coverage of the race  in
general;       specific      websites      and      electronic
magazines/newsletters for the individual city boats;  a  range
of   educational  programmes  for  schools;  and   an   active
supporters programme.

With  the  benefit of this initial audience, as  well  as  the
audience  for  Clippers  other key  activities  in  corporate
hospitality, management training, racing & regattas,  clothing
and  boat  sales,  clippertele.com plans to become  a  leading
supplier  of  internet and e-commerce services  to  the  wider
sailing  and powerboating communities. It intends  to  broaden
its  scope beyond conventional PC internet access to encompass
a  range  of  voice  and  data services available  via  mobile
phones.   It   will  also  develop  off-shore   and   overseas
capabilities,  based  initially  on  the  sixteen  cities  and
countries  visited  by  the Clipper  fleet  during  the  Times
Clipper 2000 circumnavigation.

The  board of clippertele.com will comprise Michael  Frank  as
Chairman   (currently   non-executive  Director   of   Clipper
Ventures),  David J Bland as Managing Director,  William  Ward
(Managing  Director  of  Clipper Ventures),  and  Julia  Payne
(Director  of Clipper Ventures). David Bland is an experienced
telecoms and IT professional with over 35 years experience  in
the  industry, having held senior management positions in MCI,
ICL and Western Union. In return for its controlling interest,
Clipper  Ventures will contribute its existing web activities,
contacts,  management,  personnel and  Clipper  branding.  The
minority  will be held by board members and external investors
who, together, will provide the initial seed capital.


William   Ward,   Managing  Director  of   Clipper   Ventures,
commented:

"Through its highly successful round-the-world races,  Clipper
Ventures has created a strong and credible brand with an image
of  quality,  seamanship and professionalism. We are  actively
broadening  our business base by leveraging the brand  through
related   activities  including  corporate  sailing,   Clipper
lifestyle  clothing and the import and distribution  of  rigid
inflatable boats.

"The  formation  of clippertele.com takes our  development  an
important  stage further into one of the most exciting  growth
markets.  I believe that the combination of the Clipper  name,
the  industry  management experience,  the  available  dynamic
market  and our prior in-depth experience will all combine  to
make clippertele.com a key player in serving the needs of this
countrys sailing and powerboating communities."
                               

For further information, please contact :

William Ward, Managing Director     01234-711550 / 0831-111634
Clipper Ventures plc

Michael Frank                                      0802-787624
Clipper Ventures plc

David Bland                         01962-760078 / 0385-360326

Steve Liebmann
Buchanan Communications                          0171-466 5000

END

MSCDDLFBBFBLBBX

Clipper Ventures (LSE:CLV)
Historical Stock Chart
From May 2024 to Jun 2024

Clipper Ventures (LSE:CLV)
Historical Stock Chart
From Jun 2023 to Jun 2024