Morrelli & Melvin Design & Engineering, Inc.

STEVE FOSSETT
Honoured As
2001 ROLEX YACHTSMAN OF THE YEAR

January 18, 2002 - 10.00 GMT

STEVE FOSSETT HONOURED AS 2001 ROLEX YACHTSMAN OF THE YEAR

Award Caps Month of Sailing Recognition

New York, NY, USA - 18th January 2002

Morrelli and Melvin Design and Engineering Inc. wish to congratulate Steve
Fosset on winning The Rolex Yachtsman of the Year Award.

This award recognizes outstanding on-the-water achievement in the calendar year just concluded. Accomplished sailor and celebrated adventure sportsman Steve Fossett was recognized for shattering not one, but five speed sailing records aboard his 125-foot catamaran in the last year . The records are for the fastest times sailing across the Atlantic, the 24
hour record (687.17 nm ), Miami to New York, around England's Isle of Wight; and across the English Channel. Steve Fossett's record breaking yacht, PlayStation, was designed by Gino Morrelli and Pete Melvin, Huntington Beach CA.

"It is a fantastic conclusion to a wonderful year, and we are very happy to see Steve receive this great award" said Gino Morrelli and regular crew aboard PlayStation.

"Steve is an inspiration to all of us that you can achieve great things, provided you make every experience a learning opportunity and never give up" said Pete Melvin, frequent crew member aboard PlayStation and multiple World and National Champion sailor.

The Atlantic record has withstood 24 challenges in the last 11 years before falling to PlayStations' October 2001 assault, which demolished the previous record by over 44 hours or 38%! This record is considered one of the "Holy Grails" of ocean racing and may stand for many years and is unlikely to ever be beaten by such a huge margin.

Steve will be presenting one Atlantic record trophy to San Diego YC on Wednesday Jan 23 and another to Newport Harbor YC on Thursday Jan 24, with other members of PlayStation's crew and designers.

For more information about Steve Fossett go to
http://www.fossettchallenge.com/

M O R R E L L I . & . M E L V I N . D E S I G N . & . E N G I N E E R I N G, . I N C.
.4952 WARNER AVE STE 205, HUNTINGTON BEACH, CA 92649 USA
.info@morrellimelvin.com | TEL: 714-861-1320 | FAX: 714-840-0538