SEATTLE, Aug. 30, 2005 (PRIMEZONE) -- Madison Bay Holdings, Inc. (Pink Sheets:MDBY), a marketer and distributor of Recreational Vehicle and Leisure Watercrafts, announced that the Company's Board of Directors has unanimously appointed John Keim and Tom Nestell to its Advisory Board. Mr. Keim and Mr. Nestell will serve as the initial members of the newly approved Advisory Board. The Board will assist the Company to produce the highest-quality recreational vehicles and boats available, develop a reputable dealer network for these vehicles, and establish a strong industry presence.
John Keim brings over thirty years of sales, marketing, and management experience in the marine industry to Madison Bay's Advisory Board. Mr. Keim previously served as the director of Eastern Sales for Navigator Yachts in Perris, CA, after moving over from Marine Max, Inc. where he served as Regional Manager for three years. John has been instrumental in establishing dealer networks, developing branding strategies and significantly increasingly sales at several of the top establishments in the marine industry. Mr. Keim has served as VP of Sales and Marketing at Sea Ray Boats, Inc., the world's largest manufacturer of high quality pleasure boats, where he increased sales from $13M to $275M. Prior to this, he was President and VP of Sales of Chris Craft Boats in Sarasota, FL, and served as U.S. Sales Director of Azimut Yachts, where he increased OEM sales by over 400%.
Tom Nestell has worked in the boat and recreation vehicle industry for over twenty years. Mr. Nestell is the co-owner and founder of Marathon Coach, the largest converter of custom recreational vehicles in the industry, where he managed operations, production, engineering, marketing, and service. Tom designed and implemented a state-of-the-art, 135,000 square-foot custom manufacturing facility to create the most innovative RV products in the world for Marathon Coaches. Mr. Nestell created and expanded international markets in the Mid-East, Indonesia, and Europe that led to company growth of over $40M in sales.
Ricardo Ruelos, CEO of Madison Bay Holdings, commented, "Mr. Keim's and Mr. Nestell's leadership, sales, and management experience will help guide the Company in establishing successful sales, marketing and branding strategies. Establishing an Advisory Board is intended to expedite the Company's mission to become a leading distributor of the world's finest recreational vehicles and watercrafts. We are very excited to welcome such reputable members as John Keim and Tom Nestell, who both bring decades of experience and great success in the Marine and Recreational Vehicle industries. These two gentlemen will assist Madison Bay in establishing and implementing sound strategic initiatives for our RV, Marine, and Consulting Divisions, turning Madison Bay Holdings into a world-class organization."
About Madison Bay Holdings, Inc.
Madison Bay Holdings, Inc. is in the recreational vehicle and leisure product industry. The Company owns all equipment, designs and trademarks of Summit Coaches, the Recreational Vehicle (RV) division that specializes in manufacturing, marketing and selling upscale and feature-oriented RV trailers, including a flagship 38-foot RV, the "Stiletto." Madison Bay Holdings' marine division is involved in boutique leisure product distribution. Madison Bay Holdings also provides a variety of financial, marketing, and sales consulting services to boat manufacturers, dealers, distributors, and leisure product/water sport companies.
For more information on the company and its newly appointed advisory board please visit the website www.madisonbayholdings.com.
Safe Harbor statement under the private Securities Litigation reform Act of 1995
This news release contains forward-looking statements, including statements regarding the Company's expectations about successfully selling its products and about the positive effects of the acquisition described herein. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of our products, the loss of any key personnel, our inability to introduce new products that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of potential litigation, and the possibility that competitors could develop or acquire technology that could erode the Company's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.