SINGAPORE COMPANY APPOINTED EXCLUSIVE PROMOTER OF U.I.M. WATERSPORT EVENTS IN ASIA

Singapore, May 11, 2004 - SG International, based in Singapore, has recently been formed to promote key Union International Motonautique (U.I.M.) sanctioned events across Asia Pacific to include the UIM F1 Powerboat, F2 Powerboat and Aqua Bike World Championships and other water sports.

Formed by Indonesian businessman, Indra Suryajaya (Steve) acting as Chairman, CEO and Vice President Giancarlo Tschuor, Finance Director Monika Pils and Director Jeffrey Soebekti, the new company now owns the rights for Asia's U.I.M. Championship events and will be the exclusive Promoter for the Asian Pacific region. SG International has a wealth of experience in organising and developing major sport events aiming at bringing first class sport championship events into the Asian - Pacific Market.

"SG International's aim is to strengthen and position the international motorsport events across Asia building upon the success of the UIM F1 Powerboat Championships in Malaysia and Singapore last year and India this spring. With six races confirmed for Asia in 2004 we're really looking forward to bringing this international championship to our part of the world and developing the sport and its exciting lifestyle within the new race venues of Bali, Hong Kong, Shanghai and Korea," commented Indra Suryajaya, Chairman of SG International.

A key objective of SG International will be to bring world class events into Indonesia and Bali to help boost tourism to the Islands. The U.I.M. F1 Powerboat Championship will be held in Bali, Benoa Harbour on October 31, 2004 which was largely aided by the support of Indra Suryajaya.

"We are pleased to be the official Promoter of U.I.M sports in Asia. Our vision of introducing these events to Asia relies heavily on the support and enthusiasm of the local governments. We are delighted to see that many of the locations we have initiated are rapidly turning into reality. Especially the Singapore government entities have been fully supportive of establishing Singapore's leg of the UIM Championships as the gateway to Asia," said Giancarlo Tschuor, CEO of SG International.

"We are pleased to work with SG International as we believe we have found the right partnership to develop the sport in some of our key markets in Asia which is proving to be one of the fastest growing economies in the world. Along with the recent appointment of TWI to handle worldwide broadcast rights and Fulford PR to manage the public relations for the UIM F1 Powerboat Championships in Europe we are strengthening our structure and establishing excellent working relationships with professional companies to help build the profile and awareness of the sport," commented F1 Powerboat rights owner, Nicolo di San Germano.