The World's First `City at Sea' Lays the Groundwork to Begin Construction

Dubai, UAE, UNITED ARAB EMIRATES


SARASOTA, Fla., Feb. 10, 2004 (PRIMEZONE) -- Freedom Ship International Inc. (FSI), designer of the "City at Sea" vessel called Freedom Ship, today announced key additions to its corporate management staff.

Paul Genova, formerly FSI's Chief Financial Officer, has been appointed President of FSI. Additional appointments are Daniel Kochenash as the Chief Operating Officer and Perry DeFontaine as the Chief Financial Officer.

Mr. Genova, with the company since 2002, has over twenty years of business and entrepreneurial experience and is recognized as one of the leading financial strategists and advisors in his field. Over his career, he has helped thousands of individuals and companies formulate and execute financial strategies that permit them to achieve their goals.

Norman Nixon, Founder and CEO of FSI states, "Paul has been my right hand man since he came onboard. He is responsible for the development of our financial strategy. He will now execute that strategy and move the company forward and into the construction phase.

Dan Kochenash has over twenty-three years of experience in Operations; most recently as the Vice President of Operations for toysrus.com. He has been recognized as an expert in the design and delivery of cost-effective, high performance operations infrastructures, and processes that address complex business issues. Formerly, he held senior operations positions with Russ Berrie and Simon & Schuster.

Perry DeFontaine has over twenty-two years of finance, accounting, and operations experience; most recently as leader of his own consulting firm that specialized in helping others grow their businesses and solve operating issues. Previously, he held senior consulting and management positions with Willis, Salomon Smith Barney, Coopers & Lybrand, Moody's Investors Service and Continental Corporation.

"Adding two experienced businessmen like Dan and Perry to our executive staff fills a void in our existing structure and accelerates our movement into the construction phase," Nixon stated.

About FSI

FSI is an engineering and construction company whose mission is to create a unique lifestyle that permits families and individuals to work and vacation simultaneously. FSI will design, construct, market, and manage ocean-going vessels that contain luxurious full spectrum residential, commercial, and resort communities in an attractive and stimulating environment.



        

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