Skandia To End Cowes Week Sponsorship

After 14 years Skandia is to end its title sponsorship of Cowes Week, one of the
flagship events in the sailing calendar.

The long-term savings group has announced that it will not renew its
association with the Isle of Wight event once its existing contract expires in
August 2008.

The regatta organisers will now actively go into the market for a new sponsor
with the intention being to sign up a new brand in good time for the 2009 event.

Cowes Week has grown considerably since Skandia took on the title sponsorship
in 1995 with the regatta now attracting over 1,000 boats, 8,500 sailors and
around 50,000 visitors over the week.

Skandia will continue to be a long-term investor in sailing through
sponsorship of Skandia Team GBR, the team in training for Beijing 2008 and
through other activities such as the Skandia Sail for Gold Olympic grade
competition in Weymouth and as personal sponsor to the Star campaign team of
Iain Percy and Andrew Simpson.