Long Botham Boats Announce Annual Results

Hamilton, Bermuda, 30 December, 1999 - In a report from the President Mr. Paul King, the Long Botham Boats Company Limited today released its annual results for the year ended 30 June 1999.

Sales for the year were $4,400,283 versus $4,045,909 in 1998, while net income grew to $242,208 from $69,882. Earnings per share stood at $0.48, up from $0.14 in 1998.

Total Assets of the company stood at $3,468,544 compared to $3,461,945 in 1998 and Net Assets climbed to $1,319,181 from $1,076,973.

Mr. King attributed the improved performance of the company to the new management team.

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For further information, contact Mr. Paul King, President & Chief Executive Officer of Long Botham Boats Company Limited at phone 1-441-238-1977, fax 1-441-238-8096.

For more information, contact Christopher Dill at the Bermuda Stock Exchange at phone 1-441-292-7212 or fax 1-441-292-7619. Information is also available at www.bsx.com, on Bloomberg at BSX , and on Reuters at THE BSX.

The Bermuda Stock Exchange is a fully-electronic offshore securities market founded in 1971. The BSX lists more than 200 securities -- including equities, mutual funds and bonds, as well as depository receipts -- and is recognized by the U.S. SEC as a Designated Offshore Securities Market.