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Sealegs Enters Kuwait

Sealegs Enters Kuwait

Auckland, 13 October 2006: Listed marine company, Sealegs Corporation Limited (NZX:SLG), today announced that its wholly owned subsidiary Sealegs International has shipped its first amphibious boat to Kuwait and has received orders for five more.

Two boats are scheduled to ship each month to Kuwait over the next three months which will be the fastest ever entry of Sealegs into a new country market. The six Kuwait orders represent approximately $500,000 of forward revenue.

Sealegs CEO Mr David McKee Wright said “The Kuwait order is indicative of increasing international market expansion of Sealegs amphibious boats. Sealegs is building a reputation as a world-class, innovative New Zealand marine product and we are receiving an increasing level of world-wide enquiries”.

Sealegs Corporation expects to make is half year result announcement on Tuesday 17th October 2006.

ENDS

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