12.00pm, Monday 31 January 2011: It has come to the attention of Princess Yachts today that Johs Lunde Marine Group, which is the parent company of Norsk Batsenter, has been placed into administration.

Norsk Batsenter has represented Princess for many years and we have worked very closely with the people within Norsk to build immense loyalty from our customer base. This is of course a very regrettable situation for all involved but the key priorities for Princess are to our customers and to our Brand; to ensure we maintain continuity of support for Princess Owners throughout the region.

Discussions are underway with a number of local partners to ensure that the interests of all our existing customers are supported and to ensure we are able to build on the success shared with Norsk over the last 15 years.

The Norwegian market has become increasingly significant for Princess over the past years and one in which the Princess brand is very dominant, remaining strong here is a key priority for the Company and we believe our swift action will ensure this.

For further information please contact:
Simon Clare

Head of Marketing
Princess Yachts International plc
Newport St
Plymouth Devon
+44 (0)1752 203888