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Sealegs Orders Top 100 Boats Worth Almost $10 Mil

Sealegs Orders Top 100 Boats Worth Almost $10 Million


Auckland, 05 May 2008: Sealegs Corporation (NZX:SLG) today announced it had forward orders from customers for 102 boats, worth in excess of $9.9 million in future revenue.

Among this number are two large export orders of 24 boats for Kuwait and 14 boats for Malaysia.

Sealegs CEO, Mr McKee Wright, says the company is currently involved in several international tenders or purchasing cycles with government departments and “expects to receive a major, multi-boat government order within the next twelve months.”

“We are continuing to receive strong demand for our amphibious boats and 75% of the current orders are from international customers. Our production output has increased to approximately 16 boats a month and whilst the lead time is currently six months we are hoping our new increased production capacity will reduce customer lead times towards the end of the year.”

ENDS


About Sealegs Corporation:

Sealegs Corporation Limited is a public company listed on the New Zealand Stock Exchange Main Board with the ticker symbol SLG.

Sealegs Corporation owns 100% of Sealegs International Limited, the world's leading manufacturer of amphibious boats.

Sealegs International has developed a patented system of hydraulically motorised, steerable and retractable wheels for amphibious boats.

Sealegs set a new world record for the fastest crossing of the English Channel by an amphibious vehicle in June 2005.

Sealegs amphibious boats are used by customers in New Zealand, Australia, Dubai, France, UK, Italy, Hong Kong, Korea, Fiji, UAE, Malaysia and the USA.

For more information on Sealegs see www.sealegs.com

For high resolution media photos see www.sealegs.com/infomedia.asp

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