Ferretti Group Press Release

Forlì, 4th March 2010 – The Board of Directors of Ferretti S.p.A. announces it has refused the purchase offer received on 3rd February for its controlled company Pershing S.p.A.. This decision was made after considering the brand’s strategic importance, the significance of the Mondolfo production facility and the technical and human value of the people working there, in order to achieve the aims set down in the Industrial Plan for relaunching the Group.

The Chairman of Pershing S.p.A., Attilio Antonelli, not in agreement with this choice, has decided to hand in his resignation. The Ferretti S.p.A. and Pershing S.p.A. Boards of Directors have regretfully accepted his decision.

On behalf of the entire Group, Chairman Norberto Ferretti and CEO Salvatore Basile wish to thank Tilli Antonelli for his work over the years, and wish him all the very best for the future.

The Ferretti Group

The Ferretti Group is one of the world leaders in the design, construction and sale of motoryachts, with a unique portfolio of some of the most exclusive, prestigious brands in the nautical world: Ferretti Yachts, Pershing, Itama, Bertram, Riva, Apreamare, Mochi Craft, CRN and Custom Line. The Group, directed by Chairman and Founder Norberto Ferretti and CEO Salvatore Basile, has always been at the very heights of the pleasure boating world, thanks to constant product and process innovation, and continuous research into cutting-edge solutions within the sphere of technology. The extensive range of yachts on offer is designed by highly specialised technicians and engineers at the AYT - Advanced Yacht Technology centre - one of the most advanced naval research and design units in the world, and built in the Group’s modern production units in Italy and the USA

The Ferretti Group, founded in 1968 is also present in Asia, through a branch of representation and promotion in Shanghai, and in the United States through Allied Marine, one of the top companies operating on the North American market, which sells yachts and provides nautical services. An exclusive network of around 85 carefully selected dealers guarantees the Group’s presence in over 80 countries, and ensures clients receive the very best assistance in marinas all over the world.

Ferretti Group