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12 March 2004

INTERMARINE LAUNCHES THE PATROL BOAT "G118 INZUCCHI" FOR THE ITALIAN GUARDIA DI FINANZA

The boat is launched in full respect of the agreed production programs.

At 11.30 noon today, the 12th of March 2004 Rodriquez's Intermarine shipyard in Sarzana launched the Bigliani Class VI Series Patrol Boat "G118 Inzucchi". "G118 Inzucchi" will be formally delivered in approximately 8 months and is an evolution of the Bigliani class training vessels, "Marino" e "Pedretti" developed for the Italian Navy in 1998. She is a 27 meter, 100% composite vessel and is capable of speeds up to 40 knots. Her highly sophisticated construction along with Intermarine's demanding quality standards combined with the needs of the Guardia di Finanza have resulted in a vessel that is ideally suited to her role as a coastal patrol vessel to fight against illicit smuggling and contraband activities. This latest launch is part of a contract with the Guardia di Finanza for the supply of ten 27 meter patrol vessels along with three 35 meter patrol boats. The first of the 35 meter series, the "G3 DI BARTOLO" was delivered in October and the delivery of the final vessel per the contract will be in 2006.

G117 Inzucchi Launch

In addition to this contract, Intermarine in cooperation with the Baglietto shipyard is also building another fourteen 13.20 meter fast interceptor craft (45 knots) for the Guardia di Finanza. Intermarine has also recently been awarded a contract by the Italian Navy for the midlife refit of the "Milazzo", a Lerici class minehunter previously built by Intermarine. On the yacht side, Intermarine has recently delivered a 36 metre 60 knot composite yacht and is also continuing with production of the 24 metre 75 WideBody pleasure craft series for their sister company Conam.