CLV Clipper Ven.

RNS Number:9468A
Clipper Ventures PLC
09 September 2002



Clipper Ventures plc, the AIM listed marine events company chaired by Sir Robin
Knox-Johnston, today announces plans to sell its Corporate Sailing Division and
its ten-strong racing fleet of Clipper Reflex 38 yachts.



The corporate events and training division, launched in 1999, organise corporate
hospitality, training and regatta events in and around the UK aboard the charter
fleet of Clipper Reflex 38s, designed and built in the Isle of Wight by
Christian Stimson and Harley Race Boats.



The sale is part a five-year development strategy which will enable Clipper
Ventures to focus wholly on its two key round-the-world events, the Clipper Race
and Around Alone. The strategy will see Clipper positioned as the UK's leading
marine events company and includes plans to build a fleet of twelve 68ft, 18
berth Ed Dubois designed boats, costing an estimated #6m.



William Ward, Chief Executive for Clipper Ventures, said: "This transaction will
allow us to concentrate our abilities and will strengthen the position of
Clipper Ventures as the UK's leading organiser of round the world yacht races.



"Focussing on our core business of round the world yacht racing is a most
important step in our development strategy and is in keeping with our commitment
towards making the Clipper 2005 race our most international event yet."



EDITOR'S NOTES



The Clipper race is one of two circumnavigation races run by Clipper Ventures.
The Clipper 2002 Race is the world's longest round the world yacht race, with 8
identical 60-foot racing yachts competing over 11 months and some 35,000 miles
of ocean. Clipper 2002 will leave Liverpool on 27 October 2002 from Albert Dock
in Liverpool.



The second race in the Clipper Ventures stable is the Around Alone, a solo grand
prix challenge for the world's leading sailors. Competitors for Around Alone
2002-03 are currently gathering for the start of the 2002 race which leaves New
York on 15 September as part of the 'Sail for America' commemorative event.'


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            The company news service from the London Stock Exchange
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