SNG in contempt of court...

New York, NY, April 28, 2009 – At Golden Gate Yacht Club’s request, the
Supreme Court of the State of New York today issued an order directing the
defender, Société Nautique de Genève, to show cause why it should not be held
in contempt of court. SNG has refused to comply with the Court’s April 7, 2009
Order and Judgment concerning the dates for the next America’s Cup match.
The court scheduled a hearing for May 14, 2009 at 0930.

In early April the New York State Court of Appeals, in a unanimous 6-0 ruling,
held that GGYC is the rightful challenger, and that the next match would be in ten
months, meaning early February 2010.

However, in a letter last week to GGYC, SNG unilaterally dictated that the match
would be in May 2010 in defiance of the Court’s April 7 Order and Judgment.
SNG and Alinghi officials also made the same statements widely in the media.

“By forcing litigation over our rightful challenge, they have already managed to
delay the match from July 2008 to February 2010,” said GGYC spokesman Tom
Ehman. “Now they seek another three-month delay, in defiance of the Court’s
clear mandate. Enough is enough.”

At a meeting with SNG representatives in Geneva last week, GGYC’s straightforward
proposal for a conventional, multi-challenger America’s Cup in monohulls
was categorically rejected by SNG.

www.ggyc.com