Ambassadors International, Inc. Announces Sale of Travel & Events Division to Lakeview...

Ambassadors International, Inc. Announces Sale of Travel & Events Division to
Lakeview Equity Partners

NEWPORT BEACH, Calif., April 20 /PRNewswire-FirstCall/ -- Ambassadors
International, Inc. (Nasdaq: AMIE), (the "Company") announces the sale of its
travel and events division to Lakeview Equity Partners, LLC, a Milwaukee-based
private equity fund, effective April 16. As previously announced, Ambassadors
has decided to sell all non-Windstar Cruises assets and expects to announce
additional transactions in the near future.

Arthur Rodney, Chairman of the Board of Directors, stated, "The Board and
management are pleased to have completed this transaction. We will continue to
focus all of our capital and efforts on Windstar Cruises and the small ship
luxury segment."

About Ambassadors International, Inc.
Ambassadors International, Inc. is a cruise and marine company. The Company
operates Windstar Cruises, an international, luxury cruise line. The Company
is also a global provider of construction and consulting services to marina
owners. The Company is transitioning its headquarters from Newport Beach,
California to Seattle, Washington. In this press release, any reference to
"Company," "Ambassadors," "management," "we," "us" and "our" refers to
Ambassadors International, Inc. and its management team.

Forward-Looking Statements
This press release contains forward-looking statements, including without
limitation, statements regarding anticipated future transactions related to
the sale of non-Windstar Cruises divisions that involve various risks and
uncertainties. The forward-looking statements contained in this release are
based on our current expectations and entail various risks and uncertainties
that could cause our actual results to differ materially from those suggested
in our forward-looking statements. We believe that such risks and
uncertainties include, among others, our ability to effectively divest our
non-strategic divisions; general economic and business conditions; overall
conditions in the cruise, marine, travel and insurance industries; potential
claims related to our reinsurance business; further declines in the fair
market value of our investments; lower investment yields; unexpected events
that disrupt the operations of our cruise operations; environmental related
factors; our ability to successfully integrate the operations of companies or
businesses we acquire and realize the expected benefits of our acquisitions;
our ability to compete effectively in the U.S. and international cruise
markets; our ability to compete effectively in the U.S. and international
marina construction markets, including our ability to obtain construction
contracts; our ability to identify attractive acquisition targets and
consummate future acquisitions on favorable terms; our ability to accurately
estimate contract risks; our ability to service our debt and other factors
discussed more specifically in our annual, quarterly and periodic filings with
the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K. Any
projections provided in this release are based on limited information
currently available to management and are subject to change. We are providing
this information as of the date of this release and do not undertake any
obligation to update any forward-looking statements contained in this document
as a result of new information, future events or otherwise.

Additional Information
For further information please contact: Mark Detillion of Ambassadors
International, Inc. at (949) 759-5900.

SOURCE Ambassadors International, Inc.

Mark Detillion of Ambassadors International, Inc., +1-949-759-5900