Sealegs Starts Successful Direct Sales in Australi

Sealegs Starts Successful Direct Sales in Australia

Auckland, 30 May 2005: Sealegs Corporation Limited (NZX:SLG) today confirmed the introduction of a direct sales model in Australia on the strength of four sales at the recent Sanctuary Cove Boat Show in Queensland.

Sealegs exhibited a demonstration model of its 5.6m amphibious rigid inflatable boat at the show, which attracted considerable interest, with four boats sold, representing around $300,000 in revenue.

Of the four boats sold, one is being delivered to Melbourne, one to Sanctuary Cove and two boats to the Whitsundays.

Chief Executive Officer, David McKee Wright, says “the result of recent marketing and boat reviews in Australia has quickly established the Sealegs product and brand and we are delighted with the response and market feedback. “The interest at Sanctuary Cove clearly demonstrates our decision to focus on international markets with a push into Australia over the next 12 months as the way forward.”

To execute the direct sales model in Australia, Sealegs International Ltd has terminated its relationship with Manis Marine in Sydney. Further Australian boat shows and marketing activities are planned, with a boat show at Airlie Beach, in the Whitsundays on June 11 and 12.

Sealegs, which last week reported record earnings for the last 12 months of $2.57m, also confirmed that its planned attempt on the fastest crossing of the English Channel by an amphibious vehicle is on track for next month. Sealegs Founder, Maurice Bryham, heads for Europe in a few days time to plan the record crossing attempt. UK entrepreneur Richard Branson holds the current record set last year.

Sealegs amphibious boats are also being exhibited at the Hutchwilco New Zealand Boat Show in Auckland, June 2-6.

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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 patent pending system of hydraulically motorised, steerable and retractable wheels for amphibious boats. Designed and built in Auckland, New Zealand, Sealegs International has supplied its amphibious boats to customers in New Zealand, Australia, USA, France, UK and The United Arab Emirates.

For more information on Sealegs see www.sealegs.com

For Hi-resolution photos of Sealegs go to www.sealegs.com/infomedia.htm

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