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America True News

by America True Press on 2 Oct 2000
SAN FRANCISO, CA, October 2, 2000 - America True announced today that
it has agreed to sell its America's Cup racing yacht, USA-51 to the One
World Challenge backed by telecommunications entrepreneur and
conservationist Craig McCaw. One World will use USA-51 for training and
testing in its bid to win the America’s Cup from New Zealand in 2002-2003.

America True will continue. With proceeds from the sale of USA-51, America
True will be able to expand its True Youth program and its support of other
professional sailing programs. Plans also include a new America's Cup
campaign in 2006.

"Our mission has always been to win professional sailing events with co-ed
teams while giving back to society through our work with at-risk kids and
promoting sailing at a grass roots level." Said Riley, who was the first woman
to lead an America's Cup syndicate. America True COO and supporter, Chris
Coffin added, "With the sale of our 2000 AC Assets we will have additional
funds available to expand our non-America's Cup efforts."

"As we continue to build a world class team of designers, sailors and
technicians, we simultaneously are putting together the important physical
assets to get our campaign moving. This acquisition of the America True boat
is an important step in this process." Commented Bob Ratliffe, spokesman for
the One World Challenge. "The addition of this second boat allows us to get a
head start on training and more importantly, testing and development for the
design of our two new boats" The One World Challenge campaign purchased
Dennis Conner's USA-55 "Stars and Stripes" in May of 2000.

The yellow hull of USA-51 will be repainted in One World colors and will be
back in the water sailing at the end of this year. Dawn Riley said that, "It is
fitting that USA-51 goes to a syndicate that has more than just winning the
America's Cup on their radar screen." All proceeds generated from
sponsorship will be placed in the One World Challenge Foundation, whose
mission is environmental conservation.

USA-51 was one of the success stories of the 1999-2000 America's Cup.
Although America True's budget was much smaller than many of its
competitors, its co-ed crew sailing USA-51 had the highest point score of any
American team as it qualified for the Louis Vuitton Cup semi-finals. It had a
favorable record against its San Francisco competitor Paul Cayard's
AmericaOne, and America True's victories were decisive in the elimination of
several other syndicates including the New York Yacht Club's Young America
and Team Dennis Conner and the Nippon Challenge.

Design team members, Phil Kaiko, Heiner Meldner and Kurt Jordan,
technicians Martin Dack and Richard Whitaker as well as boat builders Peter
Sowman and his building team and sailor Kelvin Harrap, all from America True
2000, are also signed up with the One World Challenge. "We are very
fortunate to have these experienced individuals from America True's historic
2000 effort added to our Team" said Gary Wright, CEO of the One World
Challenge.

The America True Foundation's Pier 17 World headquarters, Retail Store,
Web Site and True Ally network will all stay in existence. "We would like to
thank all of our supporters and sponsors for their belief in our missions and we
ask them to come with us in this bold new direction "stated Riley.

America True, a non-profit corporation led by Dawn Riley, is the continuation
of America True 2000, the first America's Cup syndicate managed by a
woman. Capitalizing on superior technology and an experienced coed team,
America True's mission is to win major sailing events. Along the way, we are
working to expand the sport of sailing by making it more accessible through
our community outreach programs like True Youth, our web site, and our
visitors' center. America True's world headquarters, store and visitors' center
is located at Pier 17 on San Francisco's historic waterfront. The America True
web site address is www.americatrue.org. For more information, call America
True at (415) 433-4287.

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