Press Release

It is with great pleasure that X-Yachts announces the appointment of
Mr Per Dollerup Mikkelsen as its new Chief Executive Officer.

Per Dollerup Mikkelsen is 52-years-old and has extensive experience as a CEO.
He has spent the last nine years as head of Scanglas A/S, part of the French-owned
industrial group, Saint-Gobain. His tenure as CEO of Scanglas was marked by a period
of impressive results.

The decision to employ a new CEO was taken to allow co-owner Lars Jeppesen to
shift his focus away from management and allow him to concentrate on product
development and new designs. X-Yachts is confident that Per Dollerup Mikkelsen is
the perfect person to guide the company’s continuing success and economic growth.

‘We are confident that our company will benefit from Per’s knowledge and expertise,’
said Lars Jeppesen. ‘Per is an active sailor and understands the unique reputation for
quality and speed that X-Yachts enjoys throughout the world.’

The appointment was effective from 1 February 2009.

Yours sincerely

X-Yachts A/S