Ambassadors International Acquires Ship
Ambassadors International, Inc. Acquires 49-Passenger Executive Explorer
NEWPORT BEACH, Calif.,
Ambassadors International, Inc. AMIE (the "Company") announced today that its wholly-owned subsidiary, Ambassadors Cruise Group, LLC, has acquired the 49-passenger vessel, Executive Explorer, for $2.5 million. The Executive Explorer is fully SOLAS compliant and has successfully operated in Alaska, Hawaii and other West Coast locations.
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David Giersdorf, President and COO of Ambassadors Cruise Group, stated, "We are pleased to add a sixth U.S.-flagged cruise vessel to our fleet. The Executive Explorer is a deluxe small cruise ship capable of operating extraordinary itineraries that include secluded scenic areas and quaint communities beyond the reach of larger ships. We expect her to be quite popular with our guests who place a premium on combining unique travel experiences with a high level of comfort and service."
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About Ambassadors International, Inc.
Ambassadors International, Inc. is a cruise, marine, insurance and travel and event company. Through Ambassadors Cruise Group, the Company operates American West Cruises and Delta Queen Steamboat Company, North America's premier river and coastal cruising companies. The Company also provides travel and event services through its Ambassadors, LLC subsidiary. In addition, it operates BellPort Group, Inc., an international marine company and participates in selective reinsurance programs through its specialty reinsurance subsidiary, Cypress Reinsurance, Ltd. The Company is headquartered in Newport Beach, California. In this press release, any reference to "Company," "Ambassadors," "management," "we," "us" and "our" refers to Ambassadors International, Inc. and its management team.
Forward-Looking Statements
This press release contains forward-looking statements that involve various risks and uncertainties. The forward-looking statements contained in this release are based on our current expectations and entail various risks and uncertainties that could cause our actual results to differ materially from those suggested in our forward-looking statements. We believe that such risks and uncertainties include, among others, general economic financial and business conditions, overall conditions in the cruise, travel and insurance markets, potential claims related to our reinsurance business, further declines in the fair market value of our investments, lower investment yields, our ability to successfully integrate the operations of companies or businesses we acquire and realize the expected benefits of our acquisitions, our ability to successfully and efficiently operate the businesses that we acquire, our ability to compete effectively in the U.S. cruise market, our ability to service our debt and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2005. We are providing this information as of the date of this release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.