CLV Clipper Ven.

RNS Number:3786Q
Clipper Ventures PLC
23 January 2002



              LONDON & HONG KONG TO ENTER CLIPPER 2002 YACHT RACE



Trade groups representing two of the world's major cities, London and Hong Kong,
today announced their participation in the Clipper 2002 Round The World Yacht
Race. Each will adopt one of a fleet of eight, identical 60 ft racing yachts, to
be called London Clipper and Hong Kong Clipper respectively. Equipped with a
professional skipper and an amateur crew of 15, the yachts will compete against
those of six other cities: Liverpool, Cape Town, Bristol, Glasgow plus two
others yet to declare. This six-leg, 16-port, 35,500-mile race will begin from
Liverpool on 27 October and return there eleven months later in September 2003.

Sir Robin Knox-Johnston, record-breaking sailor, founder of the Clipper racing
series and chairman of race organiser Clipper Ventures plc, commented: "This is
the first time we have invited international cities to participate in the race
and we are delighted by the response. Hong Kong is one of the world's greatest
ports, one its most distinctive cities and most vibrant business centres.
Political changes have not disturbed its progress, and we are pleased that
Invest Hong Kong has chosen the Clipper 2002 Round the World Yacht Race to
promote the city's burgeoning attractions.

"In our last race, the Clipper 2000, London Clipper contested the lead and
finished a creditable third. It was, in addition, an extremely confident,
resourceful and adaptable crew. I know London First would like to improve on
that result and demonstrate to the world that qualities such as confidence,
resourcefulness and adaptability can be found in London in abundance. I believe
both the London and Hong Kong Clipper crews will become tremendous role models
for their sponsors."

Speaking about the values of these sponsorship deals to Clipper Ventures plc,
Sir Robin said: "If all the yacht-based sponsorship opportunities are secured,
the two deals could generate revenues of over £500,000. This would be good
business for the company. London and Hong Kong are both regional powerhouses and
we expect our relationship with them to lead to other, attractive opportunities."

London First and Invest Hong Kong will each be helping to find ten local
companies prepared to sponsor their respective yachts to the tune of £25,000. In
return, the sponsors will be offered a host of advertising and promotional
opportunities connected with the yacht and with the host ports worldwide.

Crewmembers participating in Clipper 2002 will pay £26,500 for the entire
circumnavigation. Alternatively, they can participate in just one of the six
legs. Over 60 per cent of crew berths have already been taken but applications
are still welcome.

Ends


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