Demand for Sealegs Amphibious Boats Exceeds Supply

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Sealegs production is running at full capacity

Demand for Sealegs Amphibious Boats Exceeds Supply
$3 million in forward orders requires move to larger factory

Auckland, 20 October 2006: Sealegs International Limited has today announced it is building its amphibious boats at full capacity and has $3 million dollars of forward orders.

The company is struggling to build its unique amphibious boats fast enough to keep up with international demand. More than 40 boats are pre-sold with 80% of the orders from international customers.

Although Sealegs moved to larger manufacturing premises in November last year, it has already outgrown its current production facilities in 12 months. To cope with the increased demand and anticipated future demand, Sealegs has today announced it is moving to a new 20,000 sq ft factory in March 2007. The new factory will increase current production space by four times.

Sealegs has also announced that it expects to exceed its current financial year sales forecast by approximately 25%, with total sales revenue now forecast at $5 million instead of its previous sales forecast for the year of $4 million.

David McKee Wright said “Sealegs is retaining and strengthening its market leadership position as the worlds leading manufacturer of amphibious boats. We are continuing to develop new markets for our innovative and patented, New Zealand designed and built amphibious boats, which have worldwide appeal.”

ENDS

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