31st October 2009

News from the European Investors is all very positive.

Whilst I’m not at liberty to say the who, what I can confirm
is that a world recognised name in the sound and environmental emissions and
systems providers has now confirmed their interest toward the supply chain.

A total redesign of the whole exhaust and emission system
has now been instructed, the result will be world class and a complete
revelation of what can be achieved. The two key areas under review are the
erosion & corrosion through salt water intake and Co2 emissions. At the
same time as working on these issues, noise will be addressed in order to set a
world beating sound emission limits.

We need to pay thanks to our investors from Europe to whom
wish to remain private, although I can confirm that that the cost of developing
an exhaust system for the Hoverpod® is in the region of £400,000 and may take
the form of two types. The first being a supply for the “Manx GT” and the second being for the
leisure market craft.

I will confirm any additions and updates when cleared to do
so by the promotions team.

A Huge Thanks for the support.

Team Manager.