The race will take place in February 2005, starting and finishing in Auckland. The course will take the race yachts around the world's most feared and respected sailing landmarks Cape Horn, the Cape of Good Hope and Cape Leeuwin - testing the courage, endurance and seamanship of national teams representing the world's maritime nations.

The yachts will be designed, built and equipped in New Zealand, utilising the skills of the internationally-renowned marine industry. Industry New Zealand has already provided support for the project, which has enabled preliminary design work to proceed.

The result is an exciting yacht, which will have to withstand the rigorous conditions the contestants will encounter as they race around the Great White Continent.

It is envisaged that some seven boatyards will be engaged in this effort. In addition, the sails, masts and equipment will be manufactured and supplied by New Zealand companies.

`The New Zealand marine industry has exceeded our expectations,` said Race Chairman Bob Williams. `The boat is an ingenious solution to providing a fleet of identical 25 metre thoroughbred racers that can be converted, after racing duties, to a luxury racer/cruiser. This fits well with our mission to create an international yacht race based on sound business principles that delivers a substantial return on investment to individual boat sponsors.

`From our research this is the only marine industry in the world that provides in one place so much collective energy for solving our particular design requirements that can also collaborate effectively to meet our high quality specification and tight delivery targets at a highly competitive price.`

Features of the race include:

· Strict nationality rules will apply and sailors will have to be passport holders of the countries they represent. It will be a contest of nation vs nation. A minimum of six and a maximum of 10 entries will compete.

· The yachts will be absolutely identical to the last detail. This not only ensures a fair contest, but also fixes the costs of competing. Over and above entry fees, the teams will only have salaries, shore accommodation, provisions and usual basics to pay. They will retain ownership of the boat which will be eligible for the 2007 & 2009 races.

· The yachts race non-stop, but pass through 12 gates, some geographic and some `virtual`. The teams accumulate points and prize money in a 'skins'-type format, where the fastest elapsed time between each gate is worth 100,000 euros. In addition, the yacht that has accumulated most points wins 1-million euros and the yacht that takes line honours wins 2.5 million Euros.

· The yachts are expected to take 45 days to complete the 15,000 mile course. Before the race, the teams will take part in a mandatory 45-day programme of events, based out of Auckland. These will include short-course racing, offshore racing. A race around New Zealand is in being considered as a testing 'shakedown' before the major event.

· A major media and web-based education programme utilising high-tech communications systems will focus on the race and the environmental importance of Antarctica and the Southern Ocean. Each boat will have an on-board media suite with a dedicated professional media representative on board.

The race will deliver to New Zealand around NZ$ 150 Million in economic benefits and the creation of up to 1,000 jobs during the boat build process and the 100 day overall race program.

`We have a nation versus nation event, strict crew nationality rules, quantifiable campaign costs and a 'new age' media and sponsor program,` said Bob Williams. `It is now up to the top ocean racing sailors from the world's seafaring nations to challenge for a listing in the record books as the first holder of the Antarctica Cup.`....

Source: Antartica Cup Press