RNS Number:3842Y
Clipper Ventures PLC
5 February 2001


FOR IMMEDIATE RELEASE                                           5 February 2001


                             CLIPPER VENTURES PLC

                           DISPOSAL OF RIB DIVISION

As announced on 8 December, Clipper Ventures PLC ("Clipper Ventures"), the AIM
quoted yacht racing and branded marine events company is disposing of its
rigid inflatable boat (RIB) business. The RIB business consists of seven
identical Gemini 6m Ribs which are used for corporate entertaining and
training and the UK distributorship of Gemini Inflatables. In the eight months
to 31 December 2000, the RIB business had turnover of #110,000 and made a loss
of #48,000 (unaudited).  As at that date the RIB business had net assets
totaling #150,000.

Clipper Ventures has therefore today agreed the sale of the RIB business to
Ribs UK Limited, a company wholly owned by William Ward, Chief Executive of
Clipper Ventures PLC for a consideration of #150,000 payable in cash, #25,000
of which will be deferred until 30 June 2001. The proceeds of this sale will
be used to provide additional working capital.  The sale enables Clipper
Ventures to focus on its core activities of developing and promoting major
events capable of attracting significant participation income, media coverage
and associated sponsorship revenue

Close links with this business will be retained and will enable Clipper
Ventures to have access to a fleet of RIBs for corporate entertainment and
other events.

Completion will be subject to the approval of shareholders in Extraordinary
General Meeting on 27 February 2001, notice of which has been posted to
shareholders today, together with the interim accounts, which were announced
on 11 January 2000

The Directors of Clipper Ventures, other than William Ward, have consulted
with the Company's nominated adviser, Corporate Synergy PLC, and are of the
opinion that the terms of the disposal are fair and reasonable so far as the
shareholders as a whole are concerned.


                                     Ends


For further information, please contact :

Clipper Ventures PLC                          Sir Robin Knox-Johnston, Chairman
023-8023-7088                                     William Ward, Chief Executive
                                              Richard Cooper, Managing Director
                                                   Tim Cowper, Finance Director

Buchanan Communications                            Steve Liebmann or Ed Cowdery
020-7466-5000
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