August 31, 2006 at 10:30 AM EDT
/ CORRECTION - Fountain Powerboat Industries, Inc.

In the news release, "Fountain Powerboats Participates in the Prestigious U.K. Southampton Boat Show," issued Monday, August 28, 2006, by Fountain Powerboat Industries, Inc. (AMEX: FPB), we are advised by the company that the first sentence of the first paragraph should read "Fountain Powerboat Industries, Inc. (AMEX: FPB), a leading manufacturer of high performance sport boats, fish boats and express cruisers, today announced that its new U.K.-based distributor, 1st 4 Boats, will launch Fountain's line of sport fish boats, express cruisers and sport boats at the Southampton Boat Show September 15 through September 24," rather than "Fountain Powerboat Industries, Inc. (AMEX: FPB), a leading manufacturer of high performance sport boats, fish boats and express cruisers, today announced that its new U.K.-based distributor, 1st 4 Boats, will launch Fountain's line of sport fish boats, express cruisers and sport boats at the Southampton Boat Show September 10 through September 25," as originally issued. Also, we are advised by the company that the first sentence of the second paragraph should read, "Located in Bournemouth, England, 1st 4 Boats' show exhibit will feature a 'suspended' Fountain 48' Express Cruiser to showcase its revolutionary hull design and propulsion system," rather than "Located in Bournemouth, England, 1st 4 Boats' show exhibit will feature spectacular light shows and suspend from the ceiling of the exhibition hall a Fountain 48' Express Cruiser to showcase its revolutionary hull design and propulsion system," as originally issued. Complete corrected text follows.

Fountain Powerboats Participates in the Prestigious U.K. Southampton Boat Show

Fountain Powerboats' First Launch at U.K. Boat Show

WASHINGTON, NC -- August 28, 2006 -- Fountain Powerboat Industries, Inc. (AMEX: FPB), a leading manufacturer of high performance sport boats, fish boats and express cruisers, today announced that its new U.K.-based distributor, 1st 4 Boats, will launch Fountain's line of sport fish boats, express cruisers and sport boats at the Southampton Boat Show September 15 through September 24. One of the elite boat shows in Europe, the Southampton Boat Show will be held in Mayflower Park.

Located in Bournemouth, England, 1st 4 Boats' show exhibit will feature a 'suspended' Fountain 48' Express Cruiser to showcase its revolutionary hull design and propulsion system. A number of boats representing Fountain's product line of sports and sport fish boats will be on display in the 1st 4 Boats' booth.

"Attending the prestigious Southampton Boat Show for the first time is very exciting," commented Fountain Worldwide President Craig D. Wilson. "Our new dealer, 1st 4 Boats, takes a great deal of pride in being a Fountain Powerboats dealer and believes the boat show will provide the ideal venue to significantly increase their sales revenue and kick off a long, successful relationship with Fountain Powerboats."

About Fountain Powerboats, Inc.

Fountain Powerboats, Inc., a subsidiary of Fountain Powerboat Industries, Inc., has its executive offices and manufacturing facilities along the Pamlico River in Beaufort County, North Carolina. The company designs, manufactures and sells offshore sport boats, sport fishing boats and sport cruisers that target the segment of the recreational power boat market where speed, performance, safety and quality are the main criteria for purchase. These recreational boats are based upon an innovative, award-winning design enabling world class performance while using standard reliable power. There are currently 12 buildings located on 65 acres totaling over 238,000 square feet accommodating 40 to 45 boats in various stages of construction at any one time. The present plant site can also accommodate up to 300,000 square feet of additional manufacturing space. The land and buildings are wholly owned by Fountain Powerboat Industries, Inc. and its subsidiary, Fountain Powerboats, Inc. For more information, visit www.fountainpowerboats.com.


For Additional Information:
Marty Tullio
McCloud Communications, LLC
949.553.9748

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