Following is the complete transcript of a federal affidavit given by Team Dennis Conner executive Bill Trenkle on behalf of OneWorld Challenge in the dispute with former OneWorld employee Sean Reeves over design information:

IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF WASHINGTON
AT SEATTLE

ONEWORLD CHALLENGE, LLC, a Washington Limited Liability Company,
Plaintiff, v. SEAN REEVES, a New Zealand individual, Defendant.

DECLARATION OF WILLIAM T. TRENKLE

1. I am over the age of 21, am competent to testify in a court of law, and
have personal knowledge of the facts set forth below.

2. I am the President and Director of Operations for Team Dennis Conner
Corporation, a California corporation that is conducting an America's Cup
campaign.

3. In roughly late June 2001 I ran into Sean Reeves and another person at
the San Diego Yacht Club. I think they were having lunch. I stood there and
was chatting with them and at one point the other person left the table.
Reeves said he was staying in town over the weekend, up in Del Mar. I think
it had come up that that was where I lived. He asked whether I would like
to get together for coffee over the weekend. I said, yes, fine, if you're
around, I could probably do that.

4. Reeves called me later in that week and said, okay, why don't we meet at
the coffee shop and have coffee? I met him that day at a coffee shop on the
corner of Pacific Coast Highway and 15th Street in Del Mar-once again, it
was late June. I do not remember exactly the day. I think it was a Saturday
morning around 8 a.m.

5. We just had some small talk initially and he asked how the campaign was
going. Then he asked how serious we were about wanting to win the America's
Cup. And I said we were very serious about wanting to win the America's
Cup. He said, would you win at all costs? I said that was a hard statement
to answer, depends on what the costs are. He said, I have some information
that would help you guys along. I know your syndicate is behind on the
design program and I have some information that would get you up the
learning curve much quicker. He proceeded to lay out that he was no longer
with OneWorld Challenge, that he had left them, and that when he left he
was able to retain certain information that was his property from Team New
Zealand and from OneWorld. He was offering to provide that information to
our syndicate in exchange for a fee.

6. I told Reeves that I did not believe that it would be legal for us to
acquire any of that information due to the America's Cup Protocol and the
terms of the Protocol. He indicated that there were ways around that
because he was one of the drafters of the Protocol with Team New Zealand in
2000. I said that I did not believe there was any way around it, from what
he was offering that it would clearly be a violation and clearly would be
ethically wrong for us to acquire that information. He proceeded to push
that, that there would be ways around it. I said, not interested.

7. Reeves described the information he was offering with some specificity.
He said that he had the design for the Team New Zealand Millennium mast and
that he had additional information that came about from the research that
OneWorld had been doing on masts. He said that he had OneWorld's rig
information. He said that OneWorld had made some big gains in their mast
program, from the millennium rig. He also said that he had the lines plans
for NZL 60 and that he had information as to what Team New Zealand would do
for another boat, the next step, where he said they were thinking they
would go next. I said that was enough, I did not want to hear any more. I
did not fish for a lot of detail because we were not buying. We were not
interested. I did not really want to know. I did not want to hear anymore.
The conversation was over very, very quick.

8. He said, well, would you check and see if Dennis Conner was interested?
I said I will check, but I know he would feel the same way as I feel, that
it is illegal and unsportsmanlike, we do not want to have anything to do
with it. And I said that is the end of conversation on this. He said fine.

9. Reeves also talked about the financial arrangements he had reached with
OneWorld. He said they had come to a settlement on his departure. He
expressed that [he] thought he had been done hard by OneWorld, that he had
been pushed out of the syndicate. He held a fair amount of malice towards
OneWorld because he felt that he had done so much to start up the syndicate
and then new people came in and he was pushed out.

10. Reeves called several days later and asked if I had talked to Dennis
Conner about it and made any decision. I said, yes, I did, and as I said we
had no interest in it.

11. I almost thought this was a set-up. When Reeves was laying this out it
was so unbelievable that somebody would be offering this information that I
thought maybe this was a very clever ruse that the OneWorld guys were
trying to entrap me in to agreeing to buy the information and then we would
have been in violation of the Protocol. It was very bizarre. To me it was
just so bizarre that he would be offering this stuff up. I could not
imagine in my wildest dreams that anyone, no mater how disgruntled they
were about being fired, would offer this kind of information.

12. I have not talked to Reeves since that conversation.

13. That was the end of the story from our side of it until later on we
heard that Reeves was offering information to other teams. And then we
received a letter from OneWorld Challenge to all the challengers asking for
information regarding this, at which point I contacted [OneWorld CEO] Gary
Wright and received a phone call from him and I think their rules advisor,
Marcus McDonald, and told them what had happened.

14. I have known Sean reeves since 1995 when he was working for Team New
Zealand. I have no antipathy toward him. I have never had any run-ins, or
arguments, or hostilities with Reeves. In my prior dealings with him we had
worked together and it worked fairly smoothly and ended on a very friendly
note.

I declare under penalty of perjury under the laws of the United States that
the foregoing is true and correct to the best of my knowledge and belief.

Executed at San Diego, CA, this 12th day of February, 2002.

(signed) William T. Trenkle