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Knight & Carver to Build Excursion Catamaran

Maritime Activity Reports, Inc.

June 14, 2002

Knight & Carver YachtCenter has announced a new vessel contract to build a 72 ft. excursion catamaran for a popular destination resort in Puerto Vallarta, Mexico. Construction of the vessel has already begun, with completion slated for late 2002. The Vallarta Adventures IV will accommodate 149 passengers for diving, whale-watching and sight-seeing trips, Upon completion, it will be the third excursion catamaran Kight & Carver has built for the resort, Vallarta Adventures. “Knight & Carver has a long history of building sturdy, efficient and comfortable vessels for commercial passenger use,” said Sampson A. Brown, CEO of the company. “We are proud of that history and pleased to be working again with Vallarta Adventures, one of Mexico’s most successful resorts.” Brown noted that the agreement to build the vessel, designed by Morrelli & Melvin of Newport Beach, Ca. was delayed immediately after the tragic event of September 11. The resultant drop in tourism led to the resort’s decision to put a temporary hold on construction until revenues returned to previous levels, which has recently occurred. For Knight&Carver, the contract marks the company’s first major commercial-vessel project post-September 11 and reflects a recent renewal of confidence within the boat-building industry.

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