2008 Press Releases
Grand Banks Yachts Hosts 2008 Dealer Meeting
Dealers from around the world get first look at much-anticipated new 41 Heritage EU.

SINGAPORE – July 16, 2008 – On the heels of its best sales year on record, Grand Banks Yachts last week welcomed dealers from around the world to its 2008 Annual Dealer Meeting. The two-day event, held near the Grand Banks factory headquarters in Singapore, was an opportunity to highlight important new products and accomplishments by the Company - and to recognize the outstanding achievements of its top dealers.

"This is a time for us to meet with dealers from around the world, celebrate our accomplishments together, and look ahead to exciting new plans and products," said Rob Livingston, President of Grand Banks Yachts. "Despite conditions in the economy and the industry, Grand Banks and our dealers have continued to drive demand for our boats. As a result, our production backlog is even better now than it was last year, with much of the order book for 2009 filled up."

A major highlight of the event was the introduction of the first Grand Banks 41 Heritage EU, which will make its public debut in the US during boat shows this fall. Featuring the joystick-controlled Zeus propulsion system from Cummins, the 41EU is a bold new take on the iconic Grand Banks trawler design.

"We've sold out our production schedule on this model well into the foreseeable future, with every dealer taking at least one and many with several on order," said Mr. Livingston. "But it's not just the 41EU - there's a lot to be excited about across each of our Eastbay, Heritage and Aleutian Series."

The meeting also included a comprehensive tour of Company's 21-acre facility along the southern tip of Malaysia, just across the Straits from Singapore. Dealers were treated to a comprehensive factory tour that included a demonstration of new resin-infusion techniques, along with a look at other significant production advancements at Grand Banks.

The dealer meeting was hosted by Rob Livingston and company Chairman and CEO Bob Livingston, who announced his forthcoming retirement during the meeting. The senior Livingston has stood at the helm of Grand Banks Yachts for 34 years, leading the Company to its position today as a globally recognized and highly respected brand. He will continue to serve as Chairman of the Board following his retirement as CEO.

"The list of my father's accomplishments on behalf of the Company and its shareholders is too long to list," said Rob Livingston. "There is tremendous gratitude among employees, friends, and every dealer here for all he has done. He set the bar very high for me and our entire management team."

Those accomplishments include overseeing a major global expansion of the Grand Banks Dealer Network. Attendance at the Dealer Meeting included new dealers from Australia, Russia, Turkey, and Croatia. They joined longstanding dealers for an opening night awards ceremony at the luxury resort island of Sentosa. The presentation recognized dealerships and individuals that have attained outstanding results as Authorized Grand Banks Dealers.

Boatworks Yacht Sales, with offices in Connecticut, New Jersey and Rhode Island, received the 2007 Dealer of the Year Award by leading all others in total GB sales. Regional dealer awards went to Passage Maker Yachts in Seattle for Top US West Coast Dealer, Grand Banks Italia for Top European Dealer, and recently appointed R Marine for Top Dealer in Asia and Australia. The overall best individual sales award went to Paolo Murzi of GB Italia.

"We're very proud of our dealers and all they do to help build our success together," said Mr. Livingston. "Each one has come to this meeting because they are the very best dealer in their region. It's definitely one of the best events we've ever had."

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