CLV Clipper Ven.

RNS Number:0627H
Clipper Ventures PLC
18 July 2001


NEW FINANCIAL DIRECTOR & OTHER BOARD CHANGES FOR CLIPPER VENTURES PLC

Clipper Ventures plc, the AIM-listed round-the-world sailing company chaired
by Sir Robin Knox-Johnston, has appointed Jeremy Matthew Knight, 38, to its
board, effective July 16th 2001. From September 1st he will become finance
director. In this executive capacity he will replace incumbent finance
director Tim Cowper, 36, who retains his links with Clipper Ventures, having
been appointed non-executive director, effective July 16th. John Michael Bruce
Frank, who served on the board as non-executive director, resigned on July
13th.

Jeremy Knight joins from Guilbert Ltd where he was group financial controller.
Guilbert Ltd is the Andover-based office supplies distributor belonging to the
French PPR group.

Jeremy is no stranger to Clipper Ventures, having circumnavigated the globe as
watch leader aboard the yacht Thermopylae in the firm's 1998-99 race. "It was
the toughest thing I've ever done," he recounts, ruefully, "personally very
challenging, but something I can now look back on with very fond memories."

Having built his career in the financial departments of a number of medium to
very large companies including Kimberly Clark, Allied Lyons, Guinness and Sara
Lee Bakeries, Jeremy has chosen a much more hands-on environment in which to
develop his career. He says: "Ever since I sailed with Clipper Ventures I
thought this was a company with terrific prospects. It has shown itself
capable of attracting major sponsors - including Times Newspapers for the 2000
/2001 race - and is ideally placed to benefit from a trend amongst major
companies which want to "own" world sporting events."

Jeremy believes he can bring a number of attributes to bear in his FD role. "
The company has grown from a small entrepreneurial outfit to an ambitious plc
and its financial systems and strategy must grow with it. I'm aiming to
introduce more financial rigour including better balance sheet control, better
working capital management and more reliable profit delivery."

While most AIM stocks have suffered in the present investment climate -
Clipper Ventures' shares are trading at or around their offer price - Jeremy
believes there is considerable room for growth. "A lot of work has been done
behind the scenes to prepare this company for expansion. When confidence
returns to the market we'll be ready to run up the spinnaker."

Jeremy qualified as a Fellow of The Chartered Institute of Management
Accountants in 1987, having begun his career with a degree in accounting and
finance at East London University. He also has an MBA from Cranfield
University. He lives in Burbage, Wiltshire, and will commute from there to the
Southampton-based Clipper Ventures.

Jeremy Knight has no current or previous directorships and confirms that he
does not have:

i)               any unspent convictions in relation to indictable offences;

ii)              ever been declared bankrupt or been the subject of an
individual voluntary arrangement;

iii)            ever been a director of a company which, while he was a
director or within 12 months of his ceasing to be a director, had a receiver
appointed, entered into compulsory liquidation, creditors' voluntary
liquidation, entered into administration, entered into a company voluntary
arrangement or made any compositional arrangements with its creditors
generally or with any class of its creditors;

iv)             ever been a partner in a partnership which, while he was a
partner or within 12 months of his ceasing to be a partner, entered into
compulsory liquidation, administration or a partnership voluntary arrangement;

v)              owned any asset or been a  partner in a partnership which,
while he owned that asset or was a partner or within 12 months of his ceasing
to be a partner, entered into receivership;

vi)             been the subject of any public criticism by any statutory or
regulatory authority (including recognised professional bodies); and

vii)           been disqualified by a court from acting as a director of a
company or from acting in the management or conduct of the affairs of any
company.

Editors' notes

Clipper Ventures plc

Clipper Ventures has been listed on AIM since August 1999. Sir Robin
Knox-Johnston, the mariner who became famous for being the first sailor to go
single-handed around the world non-stop, founded the company in 1995. Since
then, Clipper Ventures has run three around-the-world races using its own
fleet of 60ft yachts. Each crew consists of a professional skipper, who is a
paid employee of Clipper Ventures, and an amateur crew consisting of
individuals from all walks of life who pay for the opportunity of tackling a
once-in-a-lifetime challenge. Many have no previous sailing experience.

The company also owns a fleet of 38ft yachts that it uses for shorter races
and extensive corporate sailing opportunities. Recently, Clipper Ventures
acquired the rights to the "Around Alone" sailing race, which attracts the
world's leading professional races in a single-handed, non-stop
circumnavigation of the globe. Consequently, Clipper Ventures now owns two of
the world's five circumnavigation sailing races.

Find out more about Clipper Ventures at www.clipper-ventures.com

Follow the current Times Clipper 2000-2001 race at: www.times-clipper.co.uk

Contact:  Ashley Nield at Woodside Communications:  020 7435 0901, Mobile:
07730 435 420

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