‘Dear Media Representatives

Please find below the information on the settlement between Russell Coutts and Ernesto Bertarelli.

As you will note, the parties have agreed that no further comments will be made on this matter and that this is all the information available to us. Therefore, we are not in a position to assist you with any further information.

We wish you a nice Easter break.

Best regards, Margrethe van der Stroom Holdener, Head of Communication

Press Release / Media Statement =================================

Ernesto Bertarelli, Alinghi Holdings and Russell Coutts announced today that they have amicably settled their past disagreements. As part of this settlement, Russell Coutts shall not sail for another team in the 32nd America?s Cup.

Ernesto Bertarelli and Russell Coutts both expressed their deep satisfaction with this positive outcome. Both parties have agreed to make no further comments.

Geneva, March 24, 2005