(New York, 18 March 2008) In response to New York Supreme Court Justice Herman Cahn’s order today designating Golden Gate Yacht Club (GGYC) as America’s Cup Challenger of Record replacing Club Náutico Español de Vela (CNEV), lead counsel for the defending yacht club, Société Nautique de Genève (SNG), Lucien Masmejan, issued the following statement:
 
“Following today’s court order, Larry Ellison has eliminated the competition and gained access to the America’s Cup Match, a feat BMW Oracle Racing has never been able to achieve on the water. While we are disappointed with the outcome of this court order and believe that the matter of GGYC’s certificate of challenge wasn’t properly addressed, we have decided not to appeal the decision and we look forward to getting the fight back on the water and meeting BMW Oracle Racing on the start line of a Deed of Gift Match in July 2009,” Masmejan said.
 
Should Alinghi win the Deed of Gift Match, the Defender is committed to getting the America’s Cup back on track for a world class multi-challenge event in 2011 in Valencia, Spain. “The challengers can be assured that the 34th America’s Cup will be run with the same vision and commitment for a premiere multi-challenge sailing event that they supported in Valencia in 2007,” Masmejan concluded.