Platinum SuperYachts Enters with Shipbuilder

Wednesday, February 04, 2004
Platinum SuperYachts Inc. announces the formation of a strategic alliance with Custom Marine International Inc. (CMI Yacht), a U.S. based corporation. CMI is strategic to Platinum's business plan because of its unprecedented joint venture with China Shipbuilding Industries (CSI) for constructing state-of-the-art, large steel, aluminum, and fiberglass yachts at CSI's facilities in the Peoples Republic of China. The CSI shipyard boasts state-of-the-art facilities complete with leading edge technology and technical innovations, resulting in the ultimate in style and quality luxury yachts. Platinum is scheduled to receive preferred construction slots at the shipyard and will be able to provide custom and semi-custom mega yachts at a significant cost advantage. Platinum will provide CMI with aerodynamic designs and specifications for the projects, which will be built to the technical drawings of leading naval architect Arthur Barbeito & Associates of Miami. The spec-yachts will be marketed to Platinum's client base and through leading yacht brokers in Ft. Lauderdale, Florida. The custom designed yachts will carry the distinctive brand name Platinum Signature Series known for its judicious balance between tradition, innovation and novel use of internal space including a split-level forward master stateroom. The Platinum Signature Series presents a style unrivaled in its aesthetic quality and functionality. The company will employ renowned interior designers to translate stylistic innovations into original and technologically advanced yachts built for international yachting enthusiasts. On concluding the agreement Mr. Peter Tsou, the president of CMI Yachts stated, "This strategic alliance with Platinum SuperYachts gives us access to additional resources and clients all over the world who can be served with a quality luxury product. We are looking forward to developing new markets through Platinum. CMI Yachts are always receptive to opportunities that will provide us with a global advantage." Mr. Ron Ruskowsky, the CEO of Platinum added, "China is a country with a long tradition of shipbuilding and this agreement allows us to offer our customers yachts ranging from 140 to 300 feet, in their choice of materials, with ultra competitive delivery schedules and pricing. Platinum can now facilitate delivery of a large yacht in 14-18 months, whereas the wait at most mega yacht shipyards is 2-3 years with available build slots in late 2006. This is a tremendous advantage for Platinum's clients."

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