April 16th, 2003

"The Bermuda Sloop Foundation" and the Kitson Group of Companies are extremely excited to announce a multi-year $100,000 donation.

Mr. Kirk Kitson, President, Kitson Group of Companies. "I first heard the BSF presentation at Rotary and was immediately impressed. BSF has coupled a dream right for Bermuda's youth with a sound business and programme plan. As someone who has been involved with youth development, I agree with the social premise that Bermuda needs new exciting, development activities for teens. BSF is really a start-up development organisation that integrates existing school and recreational activities, but with a bold new offering. My father Commander Geoffrey Kitson, with his love of kids and the sea, would have been ecstatic to see this become a reality.

Mr. Alan Burland, Chairman, Bermuda Sloop Foundation. "The Directors and volunteers of BSF are enormously grateful to the Kitson Group of Companies for their significant commitment, particularly as a medium-sized Bermuda Company. What is most significant is that Kitson & Company is leading a second thrust in our fundraising strategy. While we are counting on the largest organisations like the Bank of Bermuda Foundation, the Bermuda Government, the Ace Foundation and other prospects to help us start construction, once we reach $3,000,000, Kitson & Company is leading the charge to raise the balance in excess of the building cost of $900,000 and the endowment. It is a win-win, for the donor knowing the project is underway and for us because we can focus on developing the business and programmes during the 22-month construction period.

We are also pleased to announce that Bermuda Container Lines, Bermuda's shipping company, have pledged $5,000 on the same basis. This is particularly appropriate as we plan for Bermuda's future seamen, marine engineers and pilots will cut their teeth on the vessel.

"Our hope is to start building the 88' Bermudian schooner this August/September (2003) so the vessel will be ready for the school year Sept/05," said Mr. Burland, "We have more money to raise, but we are very pleased and motivated by the growing response and momentum."

Interested parties requiring further information should visit our website at www.bermudasloop.org or contact Malcolm Kirkland at 299-5110.