FOR IMMEDIATE RELEASE

(May 3, 2006)

The Marshall Islands Yacht Registry has gained strong interest and broad recognition throughout the worldwide yachting community as a result of its highly effective registration process which includes the option to register a private yacht for a period of three years. The Marshall Islands Registry as a whole is ranked as the fifth largest open registry in the world. Private and commercial yachts comprise 15% of the Marshall Islands fleet in terms of the number of vessels. With a local office in Ft. Lauderdale and regional offices in eleven other major cities around the world, the Marshall Islands is able to provide same day service to the yachting community regardless of location and time zone.

Recent private yacht registrations include, PERFECT SYMMETRY 5, a 2005 built, 70 foot sailing yacht built by Hylas Yachts and MAN of STEEL, a 2005 built, 121 foot motor yacht built by Heesen in the Netherlands.

PERFECT SYMMETRY 5 came into the Registry by way of Cris Wenthur of Wenthur & Chacas based in California and Marine Documentation Inc.’s Ft. Lauderdale Office. “PERFECT SYMMETRY 5 was built by Hylas Yachts, based in Marblehead, Massachusetts and is the first in a new line for Hylas. Their HYLAS 54 was the winner of the 1999 Boat of the Year,” said Gene Sweeney, Director of Yacht Operations, International Registries, Inc. (IRI) which is the Maritime and Corporate Administrator of the Marshall Islands Registry.

“The Marshall Islands Yacht Registry has grown substantially over the last couple of years. Yachts are coming straight out of their building yard and directly into the Registry. We look forward to continuing to provide an effective registration process, available from any IRI office, that is integral with the regulatory atmosphere regarding safety, security and environmental protection with respect to the operation of vessels in the Registry,” continued Gene Sweeney.