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1 May 2005, 08:57 am

CHINA TEAM Presents It's Challenge

America's Cup 2007

Qingdao, China

CHINA TEAM beat the Friday afternoon deadline to join the list of teams competing in the 32nd America's Cup. They will be the first Chinese team to take part in the event and will mean that in 2007 the America's Cup will have competing teams from Europe, North American, Oceania, Africa and Asia.

Founded in March 2005 with the creation of a joint venture between Mr. Chaoyong WANG, Chairman of ChinaEquity Investment, a leading Chinese venture capital firm, and the French sports management company LE DEFI, CHINA TEAM by LE DEFI is the first syndicate to fly the Chinese flag in the history of the America's Cup. It represents the Qingdao International Yacht Club.

The syndicate will use the know-how developed by LE DEFI with the support of the Union Nationale pour la Course au Large (UNCL) during the two previous America's Cup editions.

Chaoyong WANG, Syndicate Head said, 'We are extremely proud to announce our participation to the 32nd America's Cup. For the first time in its history, China will take part in this prestigious international competition. It is a great honour for us.'

'As the very symbol of excellence, innovation and high technology, the America's Cup promotes the values of modern China. There is no doubt that CHINA TEAM will benefit from a huge popular support in our country.'

'The America's Cup is a fantastic opportunity to compete against the best teams in the world. The challenge is paramount. With LE DEFI experience, we are going to put a new team together. Thanks to the support of the Chinese Yachting Association, CHINA TEAM will bring a great number of young Chinese talents to the highest international level, inshore as well as offshore.'

'With China participation, the America's Cup has never been such a truly international and universal event. We are happy to bring our enthusiasm and motivation to the event.'

'We are aware of the hard task we are facing. The presentation of the team will take place at the end of May. The coming 2005 Louis Vuitton Acts will constitute a preparatory stage on a sports, technical and organizational standpoint.'

CHINA TEAM by LE DEFI on Friday submitted all relevant documents and bonds for its entrance to America's Cup Management (ACM), the organizing company of the 32nd America's Cup.

The schedule of 32nd America's Cup includes a series of preliminary acts until 2007. In 2005, the Louis Vuitton Acts will be hosted in Valencia, Spain in June, in Malmö, Sweden in August and Trapani, Italy in October.