UBS Trophy Rhode Island Reunites Rival Teams Alinghi And Oracle BMW Racing June 19-26

Newport, Rhode Island, April 26, 2004 - Team Alinghi, winners of the America's Cup 2003, today officially launched the UBS Trophy Rhode Island at a press conference in Newport, Rhode Island. The UBS Trophy, sponsored by UBS and co-sponsored by BMW, will showcase America's Cup-style match racing at Newport between old rivals Team Alinghi and ORACLE BMW Racing, from June 19-26.

The UBS Trophy is a significant event that will honor the colorful and exciting role that yacht racing has played in Newport for more than 100 years. With race starts and finishes off Fort Adams, the regatta has been specifically designed to bring the racing close to shore for exciting spectator viewing. Two races are scheduled daily, weather permitting, starting at 1:30pm. The regatta will sail professional and owner-driver races on a short course.

Speaking at the press conference today was Grant Simmer, Team Alinghi General Manager. Simmer was navigator aboard Australia II, the team that finally succeeded in lifting the Cup from a long American rule when they defeated Dennis Conner and his crew on Liberty at Newport in 1983. Other speakers included Governor of Rhode Island, Donald L. Carcieri; Russell Coutts, Alinghi Team Leader; Gavin Brady, Helmsman, ORACLE BMW Racing; Dr. Robin Wallace, Chairman of the Rhode Island Sailing Foundation; and John Rousmaniere, writer and America's Cup historian.

Specific details regarding the UBS Trophy including media accreditation are now available at a new website, www.ubstrophy.com.

QUOTES:
Governor of Rhode Island, Donald L. Carcieri;
"As home to the America's Cup for a half-century, Newport has long been recognized as the sailing capital of the world. I'm very proud that Rhode Island has been selected as the site for this prestigious sailing regatta. This marks the first time that we have hosted a race of this kind in Newport in over 2 decades. This outstanding event will put Rhode Island back on the map for the America's Cup. Having this competition in Newport in June will also bolster our tourism industry and help drive our economy."

Grant Simmer, General Manager, Team Alinghi:
"The objectives of the UBS Trophy are to get the teams together, compete at the highest level, have fun and promote America's Cup-style racing in the US. It will be great to be in Newport and we are looking forward to being back on the water with ORACLE BMW Racing."

Russell Coutts, Team Leader, Alinghi:
"Organizing an event like the UBS Trophy is a daunting task and it would simply not be possible without partners. We are proud to have this opportunity today to introduce them, and show our appreciation for their support."

Gavin Brady, Helmsman, ORACLE BMW Racing:
"This venue is absolutely perfect - from an historical as well as from a sporting point of view. As the host city of the America's Cup from 1930-1983, Newport has witnessed many thrilling duels off its shores. I am sure that the UBS Trophy will offer exciting sailing at the highest level. The conditions here on the American East Coast surely are among the best anywhere."