CLV Clipper Ven.

    EMBARGOED: 22ND MAY 2006

                             Clipper Ventures plc                              

                         ("Clipper" or the "Company")                          

                                Trading Update                                 

Clipper Ventures Plc is pleased to provide the following trading update for the
twelve months ending 30th April 2006.

Trading is in line with market expectations for 2006 in spite of the additional
costs incurred due to the fleet repairs in the Philippines in March. The
current race is proceeding well with the boats finishing in Liverpool on 29th
July.

Sales for the Clipper 07/08 race are well ahead of the timetable with a third
of all crew berthing opportunities now sold. Both Liverpool and Glasgow
Clippers are under contract for sponsorship, six other cities are moving
towards contracting with a further nine cities expressing interest.

The Velux 5 Oceans race is on schedule to start in Bilbao for October 2006. A
total of fourteen entrants are currently expected, and at present ten race
skippers are currently signed up, including the first record holder, our
Chairman, Sir Robin Knox-Johnson. As a result of this race an excellent
relationship with Velux has developed.

The sale of the surplus fleet is progressing with two boats sold in the last
six months at values substantially in excess of carrying value. Clipper now
plans to retain three of the original fleet for future expansion of training
programmes, leaving three further boats to sell.

An EGM is proposed by the Board to resolve that the Company apply to the courts
to carry out a section 135 capital reduction exercise in order to eliminate P&
L reserves on its balance sheet and enable a dividend to be paid of 0.5p per
share. A resolution to pay a dividend will be put to the AGM in December
provided the capital reduction is approved. It will be the Boards intention to
adopt a progressive dividend policy for future financial years.

The Round Great Britain and Ireland Race Launch

A new event for 2007 has been in development and is officially launched today
by Lord Young. The Round Great Britain and Ireland race is aimed at the
corporate market and is being run in conjunction with the Princes Trust. The
race will take place in May 2007 starting in London and routing through
Edinburgh, Dublin and Jersey before returning to London for the finish.

Clipper Round Britain and Ireland is the ultimate corporate yacht race. The
sailing will provide a competitive race between leading corporations from the
UK and Ireland. In port the Cities and their chamber of commerce will use the
boats and the conferencing environment to promote business between each host
city, their leading corporations and the race sponsors, whilst raising funds
for the Prince's Trust.

                                                                  22ND May 2006

Enquiries:

Clipper Ventures Plc                   +44 (0) 23 925 26000                  
                                                                             
William Ward, Chief Executive Officer                                        
                                                                             
Hansard Communications                 +44 (0) 20 7245 1100                  
                                                                             
Kris McGuire/ Adam Reynolds                                                  



END

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