SEADREAM YACHT CLUB ONE YEAR ANNIVERSARY
The Little Yacht Company that Could
First Year of Operation a Sell Out

COCONUT GROVE, FL---Sept 1, 2002---For a tiny startup operation that went into business a year ago at just the wrong time (September 1, 2001) SeaDream Yacht Club isn�t doing too badly.

It purchased two classic, twin mega-yachts and renamed them SeaDream I and SeaDream II.

Completely re-designed them in record time and put them into seven-day deployments in the Caribbean last winter and in the Mediterranean this summer.

Sold out 100 percent of its initial Caribbean season and today reports it has sold out 100 percent of its first Mediterranean season.
Just what is SeaDream Yacht Club doing right and what does it have going for it? Larry Pimentel. CTC, SeaDream�s Chairman and CEO puts it this way:

�First, we came up with a yachting concept that just works--- ultra luxury, elegant, casual and unstructured. A free-form holiday with no clocks, no crowds, no lines, no stress.

�Second, we developed a small staff of top-of-the-line management ashore---all seasoned, professional, flexible and dedicated to our yachting concept. We have only 14 people in our Coconut Grove headquarters including me and everyone does everything. Additionally, there are four business development directors located in North America, UK and the Middle East. Then there are fewer than a dozen persons in our Oslo, Norway operational center.

�Third, we have a seasoned and professional staff and crew aboard our two yachts. Deck and Engine personnel are the absolute tops and our service staff is highly efficient and friendly without being cloying.

�Fourth, we adopted a unique, entrepreneurial business plan, grounded in the new realities of a nine-eleven mentality and the present global economic uncertainty. We have a low cost model for a high profile product. We avoided a complicated organizational structure and focused on simplicity. We outsourced our tech requirements and the manpower-intensive, low-rate-of-return air, land and transfer arrangements. We adopted a simple pricing structure. Without an expensive field sales force we train travel agents by telephone conference calls and teach them to use our website. And, we established a limited distribution network of retail agents and a consortia of preferred vendors.

�Finally, we accepted the necessary strategy of tactical pricing to get us off and running swiftly.
�Are we encouraged? You bet we are,� said Pimentel answering his own question.

So where does SeaDream Yacht Club go from here?
�It will be more of the same only better,� Pimentel said.
�Increased training for staff aboard our yachts and ashore.
�Increased training for retail travel agents.
�Ever increasing attention to detail.
�Staying open-minded and listening to our customers our sellers and our employees. That�s what it�s all about,� he concluded.

SeaDream Yacht Club is the yachting venture by Norwegian entrepreneur Atle Brynestad who founded Seabourn Cruise Line and Larry Pimentel, who was president of Seabourn under Brynestad and later president and CEO of the merged Cunard and Seabourn. Pimentel is Chairman and CEO of the Coconut Grove, Florida-headquartered SeaDream Yacht Club and a co-owner. The company operates SeaDream I and SeaDream II, twin, ultra luxury, mega yachts that operate on seven-day sailings in the Caribbean and the Mediterranean. The yachts are not only ideal for discerning travelers seeking an unstructured and casual holiday experience but also for small meetings and incentive groups or individual private family gatherings. They are available for full charter. The SeaDream Yacht Club reservations number is 1 800 707-4911. The website is www.seadreamyachtclub.com.