RNS Number:5131J
Clipper Ventures PLC
01 April 2003

               Clipper Ventures plc ("Clipper" or the "Company")



Clipper, the AIM listed marine events company, today announces that it has
raised #1,000,000, before expenses, through the placing of 3,846,155 new
ordinary shares of 1p each at 13p per share ("Placing Shares"), and #500,000
unsecured convertible loan notes (the "Loan Notes") at par, with institutional
and other investors.



The Loan Notes, which have a coupon of 5 1/2 per cent., are convertible at the
option of the Note Holders into new ordinary shares of the Company at a price of
16p per share.  The Loan Notes are convertible at any time up to five years from
the date of issue and are redeemable at par if not converted by 1 April 2008.
Payment for #125,000 of the Loan Notes is deferred until 30 May 2003.



Pursuant to the placing, William Ward and Sir Robin Knox-Johnson, chief
executive and chairman of the Company respectively have subscribed for a total
of 384,616 Placing Shares. Other non-institutional investors include Fast Track
Sales Limited, the Company's commercial sponsorship partner who have subscribed
for #250,000 Loan notes, and Steven Hazel-Smith, Chairman of Hoodless Brennan &
Partners plc, the Company's broker, who has subscribed for 192,308 Placing
Shares. The Placing Shares will rank pari passu with the ordinary shares of the
Company currently in issue.  Application has been made for the Placing Shares to
be admitted to trading on AIM, with admission expected to take place on 7 April
2003.  Hoodless Brennan & Partners plc have been granted an option over 115,385
new ordinary shares plus such number of new ordinary shares as is equal to 3 per
cent of the number of ordinary shares which may be issued by the Company as a
result of the conversion of the Loan Notes, exercisable at 13p per option share.



William Ward, chief executive of Clipper, commented "This fundraising will
assist in the financing and the building of 12 new Clipper 68' yachts, which are
expected to be completed in good time for the Clipper 2005 race."





Enquiries:



Jeremy Knight - Clipper: 023 8023 7088



Steven Greenwood - Hoodless Brennan: 020 7538 1166






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