Two Oceans Marine Manufacturing and HMY Yacht Sales, Inc. Launch All-New Express Cruiser Models

Welcome on behalf of HMY to the release of the all-new Eclipse brand line, for which we are the exclusive dealer. Thank you all for coming. We've never seen such a great response from all members of marketing and media. Thank you. Thank you for coming. At this point, I'd like to introduce Mr. Michael Peters of Michael Peters Yacht Design, the brains and artistry behind this project. Welcome, Michael Peters. Good afternoon. I guess I'm the only one that gets to stand in the shade. Mark Delaney from Two Oceans and I first did a project together about 12 years ago for a little 48-foot sportfish. At the time, his shipyard was 50 people. Through the years, we began to talk about what it would take for him to have a product that could enter the U.S. market. In those 12 years, he's grown from 50 to 500 people. During that time, the technologies and the market has changed. What we began to see was a bit of a hole in the market for bringing a number of technologies together all into one product and try to do it in a way that was very contemporary but yet classic at the same time, so that it has a long life and is not something that becomes dated very quickly. During that time, the stepped hull became very prevalent here in the United States and has seen a lot of different manufacturers pick it up. It's a technology that my office has specialized in for a long time. We thought using a hull like that for this kind of a product was certainly what you would want to do in a contemporary approach. Simultaneous to that, my office was asked about three years ago by Mercury Marine to help introduce the 600 horsepower outboards. At the time, we chose Azimut out of Italy to develop a product with them and also Valhalla with Viking for the outboard series. We had what turned out to be a fantastic propulsion unit that mated really well with the stepped hull. Along with that, what Mark and I started talking about was what seemed to be a gap in the market for a non-center console, more yacht-like, contemporary approach that incorporated all of the layouts that you would expect in a modern boat and some of the attributes like folding platforms and things like that. The danger of mixing technologies is always what I call mixing plaids and polka dots. They all sound good by themselves, but you can't put them together very well. I caution a lot of clients, if you took all of your favorite colors and you mixed them together, you'd get baby poop brown. You've got to be careful with that. We took an approach of trying to take what we thought was the best of all these attributes and putting them carefully into one product. That's what we believe that the Two Oceans offering with the Eclipse 505 and 605 has turned out to be. I actually just saw these display models for the first time about a half an hour ago. I'm quite happy with them. I hope all of you find that it's a product that the market will enjoy and will have a good long life. Thank you. Thank you, Michael. I'd like to next introduce Mark Delaney, President and CEO, owner of Two Oceans Marine Manufacturing in Cape Town, South Africa. Mark. Morning or afternoon to everybody. Thank you, Dave. I'd like to start off by saying, firstly, well done to Dave and his team from HMY for putting this amazing display together. You guys did it in record time. I don't think anybody understands how much effort and behind the scenes goes into that. So, well done, guys. We're very proud of what you've pulled off here. Michael has given you a bit of a background of our relationship. Our business started in 1989 and it's grown from strength to strength. We concentrate on building production and custom and semi-production vessels ranging from sort of 25 up to 110 foot. And as Michael said, we've had numerous discussions over the years looking for niche markets and felt that this product would really be something that would do well in this particular market. And at the same time as that, we've managed to form a really nice relationship with HMY a few years ago with our power catamarans. So, it was an absolute natural fit to be able to work and collaborate on this project with HMY Yachts. So, we're super excited for this model or these models of boats and really look forward to a great future and developing the product as we go along. So, thank you. Well done to HMY and Dave again for putting this together. And we look forward to seeing the first boats on the water in the near future. Thank you. Thank you, Mark. You guys are all welcome to come on the display. Take a look. Both models are available for presale now. Thank you. Thank you.