New York, 2 April 2008 - At a New York Supreme Court hearing, Justice Herman Cahn heard arguments from both the Société Nautique de Genève (SNG) and the Golden Gate Yacht Club (GGYC) regarding dates for the 33rd America's Cup. SNG requested that he set a date allowing for the 10-month notice period as stipulated in the Deed of Gift that starts when the court order was entered. Justice Cahn indicated that he would issue a new court order that sets the dates for a Deed of Gift Match.

Lucien Masmejan, SNG lead counsel, issued the following statement: “We believe Justice Cahn was receptive to our arguments that there is a tolling period during the legal process that suspends preparations towards an America’s Cup Match until a court order is issued. The Deed of Gift stipulates a 10-month notice period which should be suspended during the legal procedure, therefore the only feasible date for this competition is after 1 May 2009 due to the restrictions for racing in the Northern Hemisphere imposed by the Deed. It is unfortunate that we do not yet have a date for the 33rd America's Cup as this means we are still not in a position to properly prepare our defense. Justice Cahn agreed that the fight for the America’s Cup must be on the water in a proper sporting competition and not in court. We hope for a favorable outcome shortly.”