Raymarine Makes Changes to its Board

November 18, 2002

Raymarine has made changes to its board of directors. Terry Carlson has been appointed to the Raymarine board as President of Americas and Global Product Management, and will be based at Raymarine¹s offices in Nashua, N.H. Formerly Vice President and General Manager North America/President Canada at Polaroid Corporation and holding senior sales and marketing positions at Black and Decker and Emerson Electric, Carlson brings an immense wealth of knowledge and experience. General Manager and Vice President Les Duerdin, also based in Nashua, will head up Operations at Raymarine Inc., and United Kingdom-based Sales and Marketing Director Stuart Thompson is to expand his role as International Sales and Marketing Director, responsible for all sales and marketing activities outside the Americas. Both Duerdin and Thompson were part of the $116 million management buyout of the company from Raytheon Marine Company, which took place in January 2001. "The appointment of Terry Carlson to the board provides us with a vast knowledge of product development, channel management and the marketing of consumer electronics products. The recreational marine market is becoming more sophisticated, and his expertise will enable Raymarine to ensure its products appeal to the growing user base," commented Roger Thomas, chairman, Raymarine Group Ltd. Raymarine recently announced the appointment of Malcolm Miller as President and Chief Executive Officer. Formerly CEO of Pace Micro Technology plc, he joins the organization effective Jan. 2, 2003.

Raymarine Makes Changes to its Board

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