Fountain establishes new Super V-bottom world speed record at 130.246 mph.

WASHINGTON, N.C.--(BUSINESS WIRE)--Feb. 6, 1995--Within the span of less than an hour in two different boats of his own make, North Carolina boat builder Reggie Fountain broke the Super V-bottom world kilo speed record twice, establishing a new record high of 130.246 mph.

Fountain, along with throttleman Tres Martin of Ft. Lauderdale, Fla., started the day at the wheel of "INXS," a 47' triple engine V-bottom with passes of 128.338 mph and 127.898 for a combined two-way average of 128.118 mph. The mark was good enough to break the former Super V-bottom world record of 126.382 mph established on Oct. 7, 1993, by Alan Pariser in the 43' Wellcraft Scarab "Gentry Eagle."

Less than an hour after establishing the new mark, Fountain moved behind the wheel of the 45' triple engine Super V-bottom "Ohio Steel" and increased his own mark with consecutive runs of 130.739 mph and 129.753 mph for the new 130.246 mph world record. Fountain was accompanied in the boat by "Ohio Steel" owner John Rebhan of Warren, Ohio. The boat was powered by three standard 1,000 HP MerCruiser racing engines manufactured at Mercury Marine's high-performance facility in Oskosh, Wis.

Capping a record setting weekend, Art Lilly and Ron Rieth increased their own B-class world record to 101.010 mph in their 38' Fountain "Dragon Lady." Boat owner Rieth established the original class record at 93.313 mph in Sarasota, Fla. last year.

This weekend's special kilo event, staged on the Pamlico River in Washington, N.C., near the Fountain factory, was sanctioned by the American Power Boat Association (APBA). The kilo time trials are set up on a surveyed 5/8-mile course. Drivers are required to make consecutive runs in each direction on the course. The average speed of the back-to-back runs is used to establish world records.

Reggie Fountain, a 53-year-old native of Washington, N.C., is a 35-year racing veteran with world and national championship titles to his credit. Fountain is the world's largest manufacturer of high-performance sport boats and sport cruisers with models ranging from 24' to 47'. Fountain also manufactures a complete line of state-of-the-art, high-performance sport fishing boats ranging from 25' to 32'.

Fountain Powerboat Industries Inc. (American Stock Exchange Symbol:FPI) through its wholly-owned subsidiary, Fountain Powerboats Inc., designs, manufactures and markets pleasure boats which are noted for their speed, style, safety and very high quality. Manufacturing is done at the company's large, ultra-modern plant located along the Pamlico river near Washington, N.C.

CONTACT: Fountain Powerboat Industries Inc.

Carol J. Price, 919/975-2000