New committee member, Mike Phillips, has been instrumental in building three start-up boat manufacturers to worldwide prominence WASHINGTON, Mo., Nov. 6 /PRNewswire-FirstCall/ -- Challenger Powerboats, Inc. ("Challenger") (OTC:CPBI) (BULLETIN BOARD: CPBI) today announced that it has created an Executive Advisory Committee to assist its management team in the Company's expansion phase and the introduction of its soon to be introduced Pininfarina powerboat. The Executive Advisory Committee currently consists of three seasoned professionals, including Michael Phillips, a renowned powerboat industry authority who was instrumental in the creation and success of three prominent boat companies, Crownline Boats, Mariah Boats, and Celebrity Boats. Mr. Phillips entered the boat manufacturing industry approximately 25 years ago when he joined Celebrity Boats, then a three year old company. During his six-year tenure with Celebrity, the company grew from a $9 million in revenue to $70 million, producing 6,000 boats, annually. He joined start-up boat manufacturer, Mariah Boats, in its third month of operations, and during its first years he focused on product design and engineering, marketing strategy and sales distribution. During Mariah's first year of operation, it shipped 600 boats to 70 dealers. Recognizing a similar opportunity, Mr. Phillips joined colleagues to found Crownline Boats. He authored the company's five year strategic plan and, over a ten year period, he was instrumental in developing Crownline into one of the largest powerboat manufacturers in the world, building and distributing over 33,000 boats to 150 dealers in the United States, Canada, South America and Europe and generating over $618 million in sales. Mr. Phillips has served as a board member for the National Marine Manufacturers Association (NMMA) and for the National Association of Boat Manufacturers and was a sub-committee member of NMMA's Boat Show Committee. He received his Bachelor of Science degree from Cumberland College (Williamsburg, KY) and earned his masters degree from Xavier University (Xavier, OH). Commenting on Michael Phillips' appointment and the formation of the committee, Challenger's president and CEO, Laurie Phillips (no relation to Michael Phillips), said, "Challenger is undergoing an impressive growth period, even though industry sales in general have moderated. The dealer meeting held in September was highly successful. With the new Pininfarina line set for introduction in early 2008 and increased sales in all our boat lines, Challenger, Gekko and Sugar Sand, the company's Board of Directors felt the addition of an Executive Advisory Committee would further ensure effective execution of our strategic plans." Ms. Phillips concluded, "We are excited to include a boat industry executive with Mike Phillips' background on the committee. Mike has agreed to dedicate the time necessary at our plants in Washington, Missouri and Fargo, North Dakota to support our management team and assist in evaluating operations and strategic opportunities." Michael Phillips added, "I first reviewed Challenger's operations over 18 months ago and recognized the quality and distinctive attributes of the boat line. The addition of Sugar Sand water jet powered boats and the well-known Gekko tow-boats made the business model even more compelling. I was delighted to be given the opportunity to again work with a boat company positioned to become a worldwide name in the boat industry, and look forward to working directly with Challenger's management team and its Board of Directors to realize the company's growth potential." About Challenger Powerboats, Inc. Challenger Powerboats, Inc. designs and manufactures high performance 'go fast' offshore racing boats, family sport cruisers, jet boats and water ski tow boats under the brands 'Challenger Powerboats', 'Sugar Sand' and 'Gekko', which target the recreational boating market. Proven world-class technology is incorporated into the manufacturing of our award winning boats at the Company's 65,000 sq. ft. facility located on our 12 acre complex in Washington, Missouri and 80,000 sq. ft facility in Fargo, North Dakota. The Company's boats are sold through our dealer network in the United States, Canada, Mexico, Europe, Australia, the Middle East and Japan. In 2006, Gekko was selected as an official tow boat for the World Barefooting Championships, and the European Barefooting Championships in 2005. To find out more about Challenger Powerboats, Inc. (OTC: CPBI) (BULLETIN BOARD: CPBI) please visit http://www.challengerpowerboats.com/, http://www.sugarsand.com/, http://www.gekkosports.com/ or http://www.sec.gov/ to view the Company's public financial information and filings. Forward-Looking Statements This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law. DATASOURCE: Challenger Powerboats, Inc. CONTACT: Michael Novielli, Chairman of Challenger Powerboats, Inc., +1-845-575-6770, ext. 202; or Malcolm McGuire of CCRI Financial Group, 1-800-828-0406, for Challenger Powerboats, Inc. Web site: http://www.challengerpowerboats.com/ http://www.sugarsand.com/ http://www.gekkosports.com/

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