Société Nautique de Genève Appears Before Appellate Divison

New York, June 5, 2008

The Société Nautique de Genève (SNG), the America's Cup Defender, today put its case to the five judges sitting in the Appellate Division of the New York Supreme Court. The Swiss yacht club successfully consolidated its appeal from Justice Cahn's 12 May 2008 order with the previously expedited 14 April 2008 appeal. Now it continues to wish for a speedy resolution and to conclude the litigation initiated by the Golden Gate Yacht Club (GGYC) almost a year ago.

Justices David Saxe, Eugene Nardelli, Karla Moskowitz, Rolando Acosta and Leland DeGrasse granted approx 30 minutes for the oral arguments from both SNG and GGYC. This was the last opportunity for either party to present their merits to the Court and a ruling is expected in a reasonably short time.

Lucien Masmejan, SNG lead counsel, comments: "We were pleased to have our arguments heard by the Appellate Court regarding the validity of the GGYC Challenge while simultaneously seeking clarification on the date and venue for the 33rd America's Cup. Justice Cahn's orders left several issues unresolved and we hope that our position can now be sustained by the Appellate Court. The Justices presiding over the case seemed receptive and we look forward to receiving their judgment. We are hopeful that by consolidating our appeals and achieving the expedited status, unnecessary delays will be minimized. We are looking forward to finally putting an end to the disruption brought to the America's Cup by BMW Oracle Racing's opportunistic legal strategy."