PMI + YCOA = Affordable Access to Water

Marine industry leaders form joint marketing agreement.

Fort Myers, FL; St. Petersburg, FL (PRWEB) August 21, 2006 -- PASSPORT MARINE, Inc. (PMI), the nation’s #1 retailer of Formula Brand Yachts, Cruisers, and Sport Boats, and YACHT CLUBS OF THE AMERICAS (YCOA), the world renowned wet and dry Dockominium™ and Yacht Club builders have teamed up to ensure affordable access to water for boaters. Under the terms of a joint marketing agreement, PMI will offer YCOA Dockominium buyers access to 1.99% full term, fixed rate financing on all new 2007 Formula Yachts and powerboats, and 4.99% full term, fixed rate financing on all PMI “Select Pre-Owned” boats in stock.

“These interest rates will allow YCOA buyers to cut their existing monthly boat loan payments by as much as half, and put America’s premium boat brand, Formula, in a boat slip they own; one that appreciates in value every year,” said PMI president and CEO Jim Dillon. “The potential savings are significant; and in many cases the savings are equal to the payments on the Dockominium," he added. PMI is also offering a 5-year warranty protection plan on all new Formula boats, personalized training, and a series of fun-filled boating trips and gatherings for all YCOA customers, all at no extra charge. PMI welcomes trades for consideration against its new and used boat inventory.

Steeven Knight, founder and CEO of YCOA sweetened the deal, saying, “Our relationship with PMI allows boat owners the opportunity to own a boat and own a slip for virtually the same monthly cash flow of boat ownership alone. Plus, we’ll contribute $3,500 toward the down payment of the new Formula boat, if YCOA members take advantage of this unique opportunity."

According to Knight, "At YCOA, you get Five-Star Service and so does your boat." He says members have access to an extensive array of amenities, such as valet parking, local limo service, a full-time dockmaster and dock staff, a gourmet deli where they'll clean and cook your catch, an owners' lounge with drinks at wholesale cost, unlimited in/out service, boat washing, engine flushing and service, a swimming pool, a waterfront tiki hut and barbeque area, and shower and restroom facilities protected by 24-hour security.

"We're creating a network of safe, comfortable, financially accessible home ports for boaters," said Knight, “and now we’ve made it more affordable than renting. We even offer members fuel at cost. Typically, this represents a savings of 50 cents per gallon," he added.

YCOA recently acquired marinas in Sanibel, Tampa, Naples, Key West, St. Augustine, Stuart and New Smyrna Beach, Florida. PMI sells new and used Formula boats on site at a number of YCOA properties.

Said Dillon, “YCOA raised the bar as a branded network of private yacht clubs and member-owned boat storage facilities, and Passport Marine’s partnership with Steeven and his YCOA team will ensure affordable access to water for generations of boaters to come.”

About Passport Marine: Headquartered in St. Petersburg, Fla., PMI is the nation's largest retailer of Formula Boats. The Company sells new and used recreational boats and related marine products and provides yacht brokerage services. Passport Marine is fast becoming a leading national boating retail outlet through strategic acquisitions in Florida, Georgia, Mississippi, New York and Connecticut.

About Yacht Clubs of the Americas: Headquartered in Ft. Myers, Fla., YCOA acquires and develops marina properties into private five-star service boat storage facilities offering the ultimate marine experience to its member and owners, while providing them with the opportunity to realize growth of their real property investment.

NOTES TO MEDIA:

Messrs. Knight & Dillon will be attending the Newport International Boat Show in Newport, RI from September 14-17 and will be available for a joint Q&A on September 15. If you'd like to attend, please contact Jack Glasure at the number listed below for the exact time and location.

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