Lausanne April 4^th, 2000

A conference of the UIM Formula One World Championship was held in Lausanne, Switzerland, on April 4 to present the F1 powerboat race series for the year 2000. The start of the new millennium sees a total of 13 races scheduled to take place in some of the world’s most stunning locations in the following countries: Portugal, Belgium, Hungary, Russia, Latvia, France, Italy (2 races), Poland, Turkey, Bulgaria, Austria, UAE and Brazil. The new venues this year are Belgium, Bulgaria, Poland, Latvia, and Brazil.

Considered as one of the most exciting of spectator sports, as well as one of the most widely watched live events worldwide, the F1 race series this year has ten teams participating from 15 countries — Finland, Sweden, U.K., France, Italy, Belgium, Portugal, Hungary, Poland, South Africa, Argentina, UAE, Saudi Arabia, U.S.A. and Monaco.

For the first time in the history of the Championship, every race will have two hours of live satellite coverage. An agreement in this regard has already been signed with E.B.U. (European Broadcasting Union).

Also for the first time, each venue will make use of the high tech Virtual Advertising on behalf of the participating sponsors and advertisers. This new media is based on the sophisticated technology used originally in military applications for missile systems, where a camera is fitted on the missile head, and as soon as the camera identifies the intended target a computer takes over and directs the missile through a virtual screen with precise accuracy onto the target).

Another first this year, since the past 20 years, is the entry of multi-brand engines. Three engine manufacturers, Mercury, Johnson and Evinrude are participating with engines from 2 liter to 3.1 liter. The difference in the engines will be compensated by the different weights of the boat. While the engines are all from the West, the Japanese are probably waiting for an opportune time to present an engine that could compete with these leading names.

Boat manufacturers presenting their crafts this year are Dac from Italy, Seabold from USA, Burgess from UK, and Veldean from Netherlands.

The Headquarters of the UIM F1 World Championship has been moved to the Abu Dhabi International Marine Sports Club in the United Arab Emirates. The F1 Promoter, Nicole di San Germano, who is now based in this city, considers Abu Dhabi the perfect platform for the purpose of developing this sport in the Middle East and the Far East.

The marketing of F1 has been entrusted to Independent Sports Marketing, Abu Dhabi, a new agency solely devoted to the promotion and marketing of the F1 sponsorships.

According the F1 Promoter, Mr. San Germano, the estimated budget this year for the 24 participating boats is $ 24 million - a million per boat, and another $ 26 million for the 13 venues - 2 million at each venue; totaling around $ 50 million for the whole Championship.

Full details of the World Championship 2000 is available on the official F1 website: www.f1boat.com