Lewmar Insurers Settle WWE Claim Out of Court No Liability for Lewmar Following Commercial Decision KANSAS CITY, Mo., Oct. 27 /PRNewswire/ -- British marine industry manufacturer Lewmar Ltd. announced today that its insurers have agreed to a $9 million settlement in the case brought against Lewmar by World Wrestling Entertainment, Inc. (WWE) in Missouri, USA. The settlement amount was less than one-half the amount sought by the WWE. Lewmar Group CEO Arthur MacMillan says, "The decision to settle was made by our insurers based on their own commercial considerations. It is in no way an admission of liability by our company." The WWE brought the contribution case in an attempt to recover some of the $18 million, plus interest, it paid to the family of wrestler Owen Hart after his death at an event the WWE held at Kansas City's Kemper Arena in 1999. Hart fell to his death as he was being lowered into the ring in a sensationalistic stunt designed to improve television ratings and audience appeal in the highly competitive entertainment wrestling industry. After obtaining its earlier settlement with the Hart family, the WWE admitted that, in conducting Hart's aerial descent from 78 feet above the wrestling ring, it was engaged in an "inherently dangerous activity." During opening statements, WWE's lawyer admitted that the WWE was partially at fault for Hart's death. MacMillan says the use of the Lewmar-manufactured triggerlatch shackle by the WWE and its stunt coordinators was a gross misuse of a product designed for a specific sailing application. There was no jury finding or judgment that the Lewmar triggerlatch shackle was defective in any regard. "We deeply regret that one of our products was associated with Mr. Hart's death. We are, however, pleased that testimony by Mr. Hart's widow and the WWE's own stunt coordinator acknowledged that his accident was not caused by a defect in our product," says MacMillan. The total settlement payment was paid by Lewmar's insurers and will not affect company finances. "While the final outcome was outside our control, we are pleased to see a line drawn under this unfortunate episode and to return our full focus to manufacturing the world's premier range of deck equipment for sail and power boats," says MacMillan. Lewmar is the leading manufacturer of deck equipment and systems for sail and power boats. Lewmar is an international company, headquartered in the UK, with operations in the U.S., Holland, France, Germany, Scandinavia, Spain, Italy and Australasia. Lewmar and its sister company Navtec are wholly owned subsidiaries of Clyde Marine plc, a public limited company quoted on the London Ofex. CONTACT: Paul Wickens, +1-816-472-7474, Peter O'Connell, +011 203 458 6200, or Robert Hill, +440 239 248 5727, all for Lewmar Ltd./ DATASOURCE: Lewmar Ltd. CONTACT: Paul Wickens, +1-816-472-7474, Peter O'Connell, +011 203 458 6200, or Robert Hill, +440 239 248 5727, all for Lewmar Ltd.

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