MIAMI, Nov. 21, 2007 (PRIME NEWSWIRE) -- Fearless International Inc. (OTCBB:FRLE), a luxury performance boat manufacturer, announced today that the company has executed an agreement with Monaco based yacht distributor, Spencer Ship, to establish a European dealer network.
The agreement provides Spencer Ship the rights to offer Fearless Yachts' line of ultra-luxury performance boats within Europe. Spencer Ship will be responsible for establishing a dealer network across Europe. Through their long established relationships and presence at all the major European boat shows Spencer will exhibit and promote the fearless line of performance boats and yachts. Additionally, Spencer Ship will provide all service and warranty support for Fearless Yachts in the region.
In order to attract a world class yacht dealer in Europe, it was necessary that the Company's high performance boats obtain CE approval. The Fearless 28 recently received the CE designation by complying with strict European pollution standards. Fearless modified the 28's exhaust system and integrated a 600 HP Mercury Super Charged engine. Also, the navigation lights were brought above the sheer line of the boat to further meet CE standards.
Jeffrey Binder, CEO of Fearless International Inc., stated, "Securing a strong European partner is an important step in expanding our geographic footprint. As additional boats are brought to market, it is important that we have a strong dealership network in place. We are confident that this will be a successful collaboration."
Additionally, Fearless International reports that it has obtained bridge financing. Terms of the financing are disclosed in the Company's recent 8-k filing with the Securities and Exchange Commission.
Fearless Yachts bring 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.
Fearless Yachts LLC
Fearless Yachts is the 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.
Safe Harbor Statement
This release may contain forward-looking statements. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results to differ materially from those in the forward-looking statements. Readers should not place undue reliance on any such forward-looking statements that are based solely on information known as of the date of this release. Fearless International Inc. disclaims any obligation to update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.