P1: Hering Propeller to sponsor series

HERING PARTNERSHIP TO PROPEL POWERBOAT P1 TEAMS

USA - January 26, 2010 Powerboat P1 Management Ltd. announced Hering Propeller a two-year sponsorship agreement with California-based, Hering Performance Propellers Inc.

The landmark deal is an incentivized, performance-related, contingency program and offers Powerboat P1 Evolution and SuperSport Class teams the chance to be financially rewarded for using Hering Performance Propellers.

Aligned to Powerboat P1's marketing strategy, which provides manufacturers with a platform to target their direct customers, Powerboat P1 Chief Operating Officer, Robert Wicks, welcomed the deal for the world's fastest-growing marine motorsport. "Hering is a market leader with top-quality products and I am certain that plenty of our race teams will make the most of this excellent opportunity," he said.

Pleased to showcase its products at the international Powerboat P1 Grand Prix of the Sea events, President of Hering Performance Propellers, Scot Conrad noted, "This championship series offers the opportunity to provide a return to the teams that use our products. When our customers win races, they validate our props and provide the best possible advertising."

Hering Performance Propellers set the following team incentive criteria for the performance reward. Each participating team must:

* Use Hering propellers in competition,

* Display the approved Hering decal on its powerboat,

* Finish in first or second place overall in its class.

Powerboat P1 USA Operations Director, Martin Sanborn, sees great value for all parties in the partnership. "The flexibility of the program is the key to making this an effective marketing and promotional platform," he said, "Allowing manufacturers to determine the criteria for using its products and the amount of prize-money each team receives, ensures clear rewards for the customer, purely based on performance."

The Hering program will be in effect for the entire 2010-11 Powerboat P1 World Championship series, beginning in Split, Croatia on April 16-18, and is available to all competitors in both of the Powerboat P1 World Championship classes, Evolution and SuperSport.

-source: powerboat p1