Fountain Powerboat Industries, Inc. shares trade in NASDAQ National Market.

WASHINGTON, N.C.--(BUSINESS WIRE)--Aug. 21, 1996--R.M. Fountain, Jr., Chairman and Chief Executive Officer of Fountain Powerboat Industries, Inc. (ASE:FPI) announced that the Company's common stock will begin trading on the NASDAQ National Market under the trading symbol FPWR on Wednesday, Aug. 28, 1996.

Fountain Powerboat Industries Inc., through its wholly owned subsidiary, Fountain Powerboats Inc., designs, manufactures, and markets high performance offshore sport boats, sport fishing boats, luxury cruisers, and racing boats. Its boats are noted for their speed, style, safety, and very high quality. All manufacturing is done in the Company's ultra modern plant located on a 62-acre site along the Pamlico River. The Company employs 330 and has net revenues in excess of $40 million.

Mr. Fountain noted that the Company's entry into the NASDAQ National Market provides brokers and others with immediate access to the best bid and asked prices and other information about the Company's shares throughout the trading day. Those prices are available in over more than 200,000 electronic terminals in brokers' offices throughout the United States and the world. Trading data is also distributed widely through wire services for selective dissemination by newspapers and radio and television stations.

Last week, the Company announced its earnings for the fiscal year ended June 30, 1996. For the second consecutive year, sales and earnings were at new record highs. Mr. Fountain said that the Company was actively adding production capacity and new products to pave the way for continued growth.

In addition to increased market visibility, NASDAQ offers Fountain Powerboat Industries Inc. the advantage of multiple market makers that compete to offer the best bid and asked prices, as opposed to a single specialist on the floor of a stock exchange.

CONTACT: Fountain Powerboat Industries Inc., Washington

Carol J. Price, 919/975-2000