General Motors and Boatmaker Genmar to Develop Co-Marketing Programs

General Motors and Genmar Holdings, Inc. to Develop Co-Marketing Programs

    MINNEAPOLIS, Jan. 21 General Motors , the
world's largest vehicle manufacturer, and Genmar Holdings, Inc. ("Genmar"),
the largest recreational boat builder in the world consisting of 18 of
America's premier brands of pleasure boats, announced today they will join
forces to promote their respective products through agreed upon co-marketing
activities beginning in 2003. The new relationship will include several
promotions through marketing and advertising in which GM dealerships and
Genmar dealerships will work together in local markets to cross-promote their
respective products.
    Beginning in 2003, GM will profile Genmar boats in several of its
marketing and advertising programs. Genmar will utilize GM products
exclusively in its catalogs, brochures, magazine ads and collateral materials.
    Genmar Chairman Irwin L. Jacobs stated, "I've always believed there was an
enormous opportunity to advertise, promote and market boats, trucks and cars
together, particularly to those consumers who enjoy boating. I don't believe
this new opportunity would have become a reality if Genmar hadn't developed
our new VEC(TM) and Roplene(R) technologies and our newly-announced 24 hours a
day, 7 days a week, 365 days a year Genmar FirstMate(TM) customer service
program."
    Jacobs further stated, "Genmar's substantial investments in technology,
Genmar FirstMate(TM) customer service assistance programs and new product
innovations throughout all of our 18 boat brands over the past several years
has clearly proven to be the difference in our ability to substantially grow
and expand our Genmar businesses at a time when the industry has had no growth
and, in fact, has declined in several segments of the boating industry. I
strongly believe that having Genmar dealers working with GM dealerships to
promote each other's products on a national and local basis will have an
upside for everyone in this relationship. Genmar is proud and excited to be
working with GM, the world's automotive leader."
    Genmar, with approximately 6,000 employees and 12 manufacturing centers in
the United States and Canada, is the world's largest builder of recreational
boats and the industry's technological leader with the development of VEC(TM)
Technology, the Roplene(R) process and the Genmar FirstMate(TM) customer care
service. Genmar boat brands include Aquasport(R), Carver(R), Champion(R),
Crestliner(R), Fish Hawk, Four Winns(R), Glastron(R), Genmar(R) by Zodiac,
Hydra-Sports(R), Larson(R), Lowe(R), Lund(R), Martinique(R), Ranger(R),
Seaswirl(R), Stratos(R), Triumph(R) and Wellcraft(R).

    For the most up-to-date information, news release archives, downloadable
high-resolution logos and photographs of Genmar products, visit our Web site
at http://www.Genmar.com/pr . Check back regularly for new stories on Genmar and its
companies.