YachtWorld.com Expands Into Europe

New Managing Director Brings 20 Years European Marine Experience, Will Expand YachtWorld.com Hub for European Brokers and Buyers.

Southampton, England
March 28, 2000

Boats.com today announced the expansion of its YachtWorld.com subsidiary into Europe with the opening of an office in Southampton, England and the hiring of European Managing Director Ian Atkins. This move marks the next step in boats.com's aggressive strategy to connect major regional and vertical markets in the $100 billion marine industry.

A division of boats.com, YachtWorld.com is the most visited marine site on the Internet and a trusted partner to yacht brokers, boat dealers and prospective buyers of new and used boats and related services. Launched in 1995, YachtWorld.com pioneered the use of the Internet as a channel for buying and selling brokerage-listed boats. With 26,000-plus boat listings representing $6.9 billion in inventory from more than 900 brokers, YachtWorld.com is the most popular online yachting resource with more than 300,000 unique users and eight million page views per month.

"Europe is a huge market for marine enthusiasts, yet it is highly fragmented," said Atkins. "As the company that uniquely brought together brokers and buyers of large boats in the U.S., YachtWorld.com is the ideal partner for the European brokerage community. We're creating the same sort of opportunity for European brokers to capitalize on the Internet that Yachtworld.com has done so successfully in the U.S."

Gartner Group projects that by 2004, European online marketplace transactions will account for $2.34 trillion. Boasting more than 52 million participants, the European marine market is poised to undergo a major shift due to the Internet. Boats.com is first to tap into this lucrative opportunity under the leadership of Ian Atkins, who brings more than 20 years experience in the European marine industry during which he served as managing director of Ancasta, Europe's largest yacht brokerage and boats sales operation.

"Today's announcement solidifies YachtWorld.com as a global destination site to connect boat enthusiasts, brokers and dealers," said Rolando Esteverena, CEO of boats.com." The European hub is a logical extension to our expansion in the U.S. and creates potential new market opportunities for buyers and sellers across continents."

About boats.com

Boats.com is building the premier online hub for the boating community and the marine industry. The boats.com site will enable boat users, manufacturers and resellers--including yacht brokers, boat dealers, marinas, boatyards, and other marine service businesses--to participate in a thriving online marketplace, opening up new commercial opportunities for the industry while enhancing the consumer's boating experience.

Boats.com's management team is made up of boating and Web and Internet business veterans, whose depth and breadth of experience has enabled boats.com to build and leverage strong strategic partnerships in the brief time since the company's inception. Founded in 1999, boats.com is a private, venture capital funded business located at Pier 38, The Embarcadero, in San Francisco, California.

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Contacts

Jill Waymire
Applied Communications
415 365 0222 x 268
jwaymire@appliedcom.com

Ian Atkins
boats.com
+11 44 385 323821
iatkins@boats.com