Major Sponsorship Agreement
May 12 2006 - 3:00AM
UK Regulatory
embargoed: 07:00hrs, 12 May 2006
Clipper Ventures plc
(the "Company")
Re. Major Sponsorship Agreement
Clipper Ventures plc, the AIM quoted ocean racing company, is delighted to
announce that the City of Glasgow has, for the fourth time, sponsored an entry
for the 07-08 Clipper Round The World Yacht Race. The sponsorship transaction
is worth �625,000 an increase of 25% over their 05-06 sponsorship commitment.
Glasgow is the second City to sign up for the 07-08 race after a deal with the
City of Liverpool. We are currently in advanced negotiations with a further six
international Cities and shareholders will be kept fully informed of
developments.
Clipper Ventures CEO William Ward said: "Glasgow has been a loyal supporter of
the Clipper Race and we are delighted that the City has agreed to sponsor a
boat in the 07-08 race. What is encouraging is the level of sponsorship we are
attracting now, compared to the 05-06 race, which at the time was a record for
the Company.
The continued partnership between Clipper Ventures and Glasgow will enable us
to strengthen the existing relationship and build on the City's successful
participation in the three previous races."
Clipper Ventures Plc +44 (0) 23 9252 6000
William Ward, Chief Executive Officer
Hansard Communications +44 (0) 20 7245 1100
Adam Reynolds
END
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