Valley Boat Emporium to Liquidate

Owner Turns To Dan Gamel For Liquidation
FRESNO, Calif.--(Business Wire)--
The economic slump has hit the California boating industry hard,
forcing one of Fresno's largest boat dealers to announce plans to
liquidate his inventory and possibly close his store after 32 years in
business if the market doesn't turn around. Ron Montverde, owner of
Valley Boat Emporium on Shaw Avenue, will begin liquidating his
inventory through a unique arrangement with Fresno RV dealer Dan
Gamel.

Monteverde, a top dealer in the U.S. for the Tracker line of
fishing and pontoon boats for 26 years, reported that his second
quarter sales were down 30-35% from 2007, which closely mirrors the
average decline that other California boat dealers have reported for
the year.

"Boat sales for the first half of the year have been miserable,"
said Monteverde. "When I made the decision to liquidate, I consulted
with Dan Gamel for advice on selling off my inventory. I've watched
his liquidation process which has moved rapidly over the past few
weeks and I wanted to know how to sell mine off as fast. Manufacturers
don't take unsold boats back, so the burden is on the dealer to get
rid of the inventory. Gamel is obviously doing it right, so I went to
the source and asked for help."

Dan Gamel, owner of Fresno based Dan Gamel's RV Centers, recently
announced the liquidation and impending closure of his six RV sales
and service centers in California. Since July 1st Gamel has sold off
nearly $30 million in inventory which has generated much needed
working capital for the company.

"Ron explained that he needs to liquidate about 35 boats and he
hasn't had a lot of success doing so in this perceived market. It's
sad, because the fact is that people who own boats are still boating
and enjoying their leisure family time, but those who might otherwise
be buying their first boat are holding off because of the media's
gloomy portrayal of our economic condition," said Gamel.

"In the last two weeks we've sold over 250 recreational vehicles.
Sure, the prices are deeply discounted, but these sales show that
smart families aren't buying into the dramatic press. Instead they're
doing their own research and making buying decisions based upon
opportunity and fact, not what the talking heads report to get news
ratings. Ron is a good man and his business has employed many people
and been good for the community for over 32 years. It's a rough time
for many of us, and I'm happy to help him," said Gamel.

Over the past year, Monteverde has slashed overhead and operating
expenses, and he's reduced his staff from 27 to just nine employees.
But, lackluster sales and continued decline in consumer confidence led
Monteverde to his decision to liquidate.

Valley Boat Emporium is moving inventory to Gamel's Camp America
store in Fresno and the liquidation sale will begin on July 19th.
Monteverde's sales and service departments will remain open at his
Shaw Avenue location at least until all boats are sold and delivered
to customers.

Valley Boat Emporium is privately owned by Ron Monteverde. The
dealership is located at 4170 West Shaw Avenue, Fresno, CA, 93722,
telephone (559) 224-5801. The company's website is www.valleyboat.com.

Valley Boat Emporium
Ron Monteverde, 559-351-5752

Copyright Business Wire 2008