Sealegs Appoints First Distributor in Asia

Sealegs Appoints First Distributor in Asia

Auckland, 09 October 2006: Sealegs International Ltd confirmed today the appointment of its first distributor into the large Asian market.

Kunjang Shipbuilding Co., Ltd, which recently placed an order for five Sealegs amphibious boats, has been confirmed as the new distributor for South Korea. Kunjang Shipbuilding has been involved in the marine powerboat business in South Korea for 40 years, and has established a strong reputation for after sales service.

The order of five boats represents more than NZ $ 400,000 of revenue for Sealegs and Chief Executive, David McKee Wright, is confident of more sales in the region.

“The president of Kunjang Shipbuilding tells me our amphibious boats are an amazing solution to the problems of launching power boats on the west coast of the Korean Peninsula which has tides of up to 12 metres.

“We are delighted to be able to partner with such an experienced and established distributor into what is clearly a growth market. And this has been reflected in the order of five boats by Kunjang Shipbuilding even before the first Sealegs amphibious boat has reached South Korea.”

The confirmation of a new distributor for Sealegs in South Korea follows the purchase of 2 million new shares by West Australian entrepreneur Will Burrell, and his subsequent appointment as Director of Australian Operations for Sealegs.

ENDS

For more information on Sealegs see www.sealegs.com

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