MIAMI, Aug. 20, 2007 (PRIME NEWSWIRE) -- Fearless International Inc. (OTCBB:FRLE), a luxury performance boat manufacturer, announced today that the company has received deposits for 33 luxury speedboats to be produced during its first year of production for the Company's fiscal year ending March 2008. The deposits received account for over 75% of first year production capacity for the Fearless 28.
The 28-foot-long luxury powerboat is the first in a new line of speedboats developed by the company in exclusive collaboration with Porsche Design Studio/Austria. The Fearless 28 features a seamless, carbon-reinforced hull, classic 8.5 foot beam, stainless steel intake vents and hand fitted teak inlays. It is propelled by a custom 525 hp engine capable of reaching speeds of more than 80 mph.
Jeffrey Binder, CEO of Fearless International Inc., states, "Since its debut at the Miami Boat Show in February 2007, the 28 has received extensive media and press coverage. These editorials combined with other promotional events have resulted in numerous sales inquires and have fueled demand for the 28."
In addition to the accolades from leading press and trade publications regarding the design and styling of the boat, the Fearless 28 scored nearly perfect in its first independent performance evaluation. Powerboat Magazine's lead test driver hailed the performance of the boat as a "dream come true". During Powerboat's testing, the Fearless 28 topped 81 mph with the engine turning 5,400 rpm, with its (standard) 525hp engine. In standing-start acceleration drills, the 28-footer reached 33 mph in 10 seconds and 60 mph in 20 seconds. Powerboat's lead test driver gave the Fearless 28 near perfect scoring in turns and slaloms at all speeds and commended its tracking and maneuverability.
Fearless International Inc.
Fearless International is a forerunner in sleek design and custom luxury in the performance boat and go-fast yacht industries. For more information please visit www.fearlessyachts.com and www.fearlessinternational.com. Fearless Yachts brings a sophisticated difference to the marketplace by launching ultra high-end boats and yachts that blend the best of performance, style, and design. Together, Fearless Yachts and Porsche Design Studio combine the style and performance of both the marine and automotive disciplines in order to establish a luxury brand for the boating industry.
Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expect timing of the production of the Fearless 28 by Fearless, the expected performance and features of Fearless's products and any Fearless and Porsche Design combined products, the impact of Porsche Design on future innovation of Fearless's products, Fearless's expectation with respect to development and production of Fearless' products, and Fearless's and Porsche Design's plans to provide a better product and owner experience. These statements are based on the current expectations or beliefs of management of Fearless International, Inc., and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to (1) changes in economic, business, competitive, technological and/or regulatory factors, (2) failure to meet production deadlines for the Fearless 28, (3) failure to compete successfully in this highly competitive and rapidly changing marketplace, (4) failure to close sales of the Fearless 28 notwithstanding deposits or orders received to date, and (5) other factors affecting the operation of the respective businesses of Fearless and Porsche Design. More detailed information about these factors may be found in filings by Fearless, as applicable, with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Fearless is under no obligation to, and expressly disclaims any such obligation to, update or alter their respective forward-looking statements, whether as a result of new information, future events, or otherwise.