Intrepid Power Boats Founder John Michel Plots New Course

TAMPA, Fla.--(Business Wire)--
For more than 26 years Intrepid`s founder and president, John Michel, has
fostered his one-of-a-kind, one-at-a-time approach to semi-custom boat building
and customer support, building the Intrepid brand into one of the most revered
in the industry. Even in challenging economic times, Largo, Fla.-based Intrepid
Power Boats continues to employ 250 workers and has a 24-month waiting list.

"Michel did everything `wrong` from what many textbooks would call `good
business`," said Boating Magazine`s senior technical editor Kevin Falvey, "But
he remains a winner even in these disastrous times. The MBA`s would have had him
expand and homogenize, the marketing gurus would have suggested that pleasure
boaters wouldn`t buy outboards or stepped hulls, the consultants would have said
he needed a dealer network, but to all of them, John Michel`s message is this:
Building boats to a standard of excellence, rather than to a price point or
formula, is a recipe for success even in the worst of times."

Michel sold a majority stake in the company two and a half years ago to a New
England-based private equity firm. Recent discussions revealed significant
philosophical differences in the direction that the company needs to take.
Therefore Intrepid`s founder and president has decided to chart new waters.

United Landmark Associates
Mickey Liera, 813-728-1596
mickeyliera@tampabay.rr.com

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