Panerai Classic Yachts Challenge Sponsorship Program Debuts in the USA

28 july 2006

Panerai Classic Yachts Challenge Sponsorship Program Debuts in the United States With Newport's 12-Metre Regatta.

NEWPORT, R.I., July 27 /PRNewswire/ -- In 2005 PANERAI successfully

launched in the Mediterranean the "Panerai Classic Yachts Challenge" in

partnership with CIM, the Mediterranean International Committee, and AIVE,

the Italian Classic Yachts Association. Regattas are held yearly at some of

the most celebrated European yachting locations, which include Antibes,

Argentario, Mahon, Imperia and Cannes, where thousands of passionate

sailors take part with the sole purpose of appreciating the cultural

heritage of these great masters of the sea.

In 2006 PANERAI chose to expand its program by adding the renowned

Antigua Classic Yacht Regatta in the pristine Caribbean waters (April

20-25), the fascinating 12-Metre Regattas in Newport, RI (July 28-30) and

Nantucket, MA (August 16-18), along with the traditional Opera House Cup

Regatta in Nantucket, MA (August 18-20).

"Being PANERAI and deeply in love with the sea we couldn't confine our

horizon to the Mediterranean. We had to consider an expansion in order to

encounter the passion and tradition of the American sailing community,"

explains Angelo Bonati, Chief Executive Officer of OFFICINE PANERAI. "For

this reason it came natural to help sponsor U.S. regattas, beginning with

the Robert H. Tiedemann 12-Metre Regatta produced by The Museum of Yachting

with support from the International Twelve-Metre Class Association."

PANERAI is a brand of values, which arise from its origins: Florence,

city of art. It is a characteristic expression of Italian craftsmanship

with historic tradition whose values are still current today, strengthened

by the great attention PANERAI devotes to the quality of its creations and

by the depth of technical experience that is expressed through its

production. "The watchmaker's work is as precious and rare as the one of

the axe master building a classic yacht," adds Bonati. "Whether we are

dealing with yachts or watches, the men who create them and those who own

them are both animated by the same emotions."

Today PANERAI is one of the most prestigious brands in haute horlogerie

and its history represents a proud example of research, innovation and

tradition, as well as being irrevocably linked with great nautical exploits

and the sea.

SOURCE Panerai North America