SILVERSEA NEWS
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The name is fitting for a ship that will be dedicated to the exploration and conservation of the planet's oceans, wildlife and indigenous cultures. The Principality of Monaco, aside from being the world's capital of wealth and luxury -- and home to Silversea's global headquarters -- has long been recognized as a leader in marine environment research. Prince Albert I, a pioneer in oceanographic science and exploration, first explored the Arctic's Svalbard archipelago in the early part of the last century, and founded the world renowned Oceanographic Institute. In 2006, Prince Albert II plotted a similar course on part of his journey to the North Pole, in an effort to add to the scientific body of work started by his ancestor -- and to draw attention to the effects of global warming on the Arctic regions. As a result, the Prince is the first incumbent head of state to have reached the northern most point on Earth.

"We are deeply honored to have our new expedition ship named after His Serene Highness Albert II, Sovereign Prince of Monaco," said Manfredi Lefebvre, Silversea's chairman. "His passion for environmental conservation is well known and we are committed to supporting his mission by offering travelers the chance to discover and appreciate some of the world's most remote and unspoiled regions."

When Silversea's adventure ship sets sail on June 12, following a naming ceremony in Monte Carlo, it will herald the beginning of a new mode in exploration cruising -- where a luxurious ambiance is just as important as the eye-opening educational experiences it will deliver.

The Lloyd's Register 1A ice-rated vessel is purpose-built for expedition cruising and is currently undergoing an extensive multimillion-dollar renovation at the Fincantieri shipyard in Trieste, Italy. To ensure the ship will deliver an expedition cruise experience consistent with Silversea's award-winning luxury standards, the refurbishment will include exterior design modifications, state-of-the-art technological enhancements and a comprehensive upgrade of all guest accommodations and public spaces.

The ship is also being outfitted with a new fleet of eight, latest-model Zodiac boats with Yamaha four-stroke engines (for lowest possible emissions) that will allow guests to enjoy up-close exploration and access to some of the world's most remote landscapes.

"The interest in expedition cruising is definitely on the rise, among both affluent baby boomers and seasoned travelers wanting to further enrich their already wide knowledge of more traditional and established destinations. Silversea's Prince Albert II will be the perfect option for those adventure-seekers who prefer a genuine expedition ship experience enhanced with the comforts of a true luxury product," said Amerigo Perasso, Silversea president. "Adventure travel is also about having experiences that are intellectually enriching, so every voyage will feature a carefully selected expedition team of lecturers and leading experts who will share their insights on the natural, cultural and historical highlights of some of the most pristine and secluded regions on Earth."

In a related development, the company has announced the appointment of Conrad Combrink as Silversea director of expeditions, with responsibility for developing the ship's itinerary and programs. He will also oversee the recruitment of expedition staff and lecturers. Combrink's career of over ten years in expedition cruising includes serving as expedition leader on World Discoverer I and II.

Silversea Cruises' parent company, Silversea Cruises Group Ltd., announced today that it has purchased the expedition ship World Discoverer.  The company took delivery of the vessel in Singapore on September 17.  The ship will undergo a multi-million dollar refurbishment before it begins service in spring 2008. 

"We're very excited about this acquisition, as it means we'll be able to further tap that segment of the luxury travel market that is adventure driven," said Manfredi Lefebvre, Silversea's chairman.  "We have been looking into this segment for quite some time.  When we were informed about the opportunity to buy World Discoverer, we took immediate action in a matter of days.  We believe that exploration cruises can combine extremely well with an utterly exclusive product.  With the addition of World Discoverer, our current fleet increases to five ships and to six in 2009, offering a more-expansive cruise schedule that encompasses all seven continents."

Amerigo Perasso, Silversea president, added, "We will be unveiling more details about World Discoverer, including the new name, in the next few weeks, when all the elements of the project will be finalized.  However, at this time, I can advise that the refurbishment will extend to virtually every area of the ship.  Although we will maintain much of the vessel's current configuration, which features all ocean-view accommodations, we will dramatically enhance and redesign a number of public spaces, as well as some of the accommodations, and even some aspects of the ship's external appearance.  This will bring World Discoverer in line with our usual high standards, but with some modifications to better adapt the ship for the special needs of expedition cruises."

Perasso further elaborated, "The mix of innovative land programs, top-quality lecturers, enrichment programs and exotic destinations will enable us to offer a very special experience that will appeal to the most discerning world travelers.  It just made good sense to grow our company with the addition of a vessel purpose-built for in-depth exploration and adventure in places far off the beaten path.  World Discoverer is well suited to become the "best in class" for this type of operation."   

After the planned refurbishment, World Discoverer will accommodate around 140 guests (reduced from current 175) in ocean-view staterooms, including Owner's Suites, Grand Suites, and 12 yet-unnamed suites that will be similar to the line's popular Silver Suites -- offering an intimate club-like ambiance that will deliver an expedition cruise experience consistent with Silversea's award-winning luxury standards. 

Guests will also enjoy many amenities found on larger ships, such as an elegant single-seating main dining room, a specialty restaurant, library (with desktop computers and Internet access), boutique, beauty salon, fitness center, sauna and whirlpools.  The ship will also feature several lounges for enjoying drinks, music and entertainment, including a cigar lounge like the Humidor on the line's other ships.

World Discoverer will be equipped with state-of-the-art satellite communication systems, providing bow-to-stern wireless Internet access, enabling guests with Wi-Fi-enabled laptops and PDAs to surf the Internet and check e-mails from the comfort of their suites as well as public areas.  Cellular phone service will also allow guests to stay in touch using their own cell phones even when the ship is miles away from land.  The vessel will also feature flat screen TVs in all suites and staterooms.  In the ship's lounges, the latest audio-visual equipment, complete with high-definition video screens, will display live lectures hosted by visiting destination experts.

The ship will maintain the line's reputation for intimate yet spacious ships.  And the vessel's crew complement of 106 will continue to ensure the highest level of service with a crew-to-guest ratio that will equal or exceed that of Silver Cloud and Silver Wind, thus being among the highest in this niche market.

The 6,072-ton vessel also boasts a strengthened hull with the highest Lloyd's Register ice-class notation (1A), appropriate for navigating waters, without an escort, in some of the world's most remote regions, including Antarctica.  

Earlier this year the company finalized plans to purchase one 36,000-GRT, 540-guest, ultra-luxury vessel from Italian shipbuilder Fincantieri with delivery scheduled for the fourth quarter of 2009.  The line has also signed an option for a sister ship with the same shipbuilder.

Silversea Cruises is recognized as an innovator in the luxury segment, offering guests large-ship amenities aboard four intimate vessels, Silver Cloud, Silver Wind, Silver Shadow,and Silver Whisper, all designed to offer an atmosphere of conviviality and casual elegance.  Silversea has won numerous awards and accolades around the world, including "Five Star Diamond Award"  from the American Academy of Hospitality Sciences (2007), "Five Stars" in the Berlitz Complete Guide to Cruising and Cruise Ships (2006); "Number One" small-ship line in the Readers' Choice" survey conducted by Britain's Condé Nast Traveller magazine (2007); "Five Anchors" for Gastronomy and Service in Germany's Kreuzfahrt Guide (2007); "Best Small Cruise Line" by Australia's Luxury Travel Magazine (2007); and Best Luxury Cruise Operator according to Asia's Travel Weekly (2007).

Ultra-luxury Silversea Cruises announced its recognition as the award winner in the Best Use of Technology category at the 2007 Technology Awards.  The awards are presented by the South Florida Business Journal and Host.net, and honor companies in South Florida for their achievements in technology.

The innovative luxury cruise company recently expanded wireless Internet access to 100% coverage throughout its four ships, enabling guests with Wi-Fi-capable laptops and PDAs to surf the Internet and check e-mails from the comfort of their suites as well as public areas.

"We're always looking for ways to utilize the latest advances in technology to enhance our guests' experience on board, and it's especially gratifying when our efforts are recognized," said Tim Rand, Silversea's chief information officer.  "The South Florida Business Journal Technology Award is an excellent way to recognize the achievements of innovative companies and we're thrilled to be selected this year as a winner."

Added Rand, "Many of today's luxury travelers are working professionals who travel with laptops and PDAs in tow and they appreciate being able to access the Internet from anywhere on the ship, including their suite. This expanded Wi-Fi coverage is the perfect complement to the cellular phone service we also offer to help our guests stay in touch using their own cell phones even when our ships are sailing miles away from land."

Award winners were announced May 23 at a special reception, sponsored by Citrix, at the Seminole Hard Rock Hotel and Casino in Hollywood, Florida. Silversea Cruises is recognized as an innovator in the luxury segment, offering guests large-ship amenities aboard four intimate vessels, Silver Cloud, Silver Wind, Silver Shadow, and Silver Whisper, all designed to offer an atmosphere of conviviality and casual elegance. For the ninth year, Silversea was named "Number One" small-ship line in the 2005 "Readers' Choice" survey conducted by Condé Nast Traveler magazine.   For the sixth time, Silversea was selected "World's Best" small-ship line in the 2004 Travel + Leisure readers' poll.

Silversea Cruises has signed a Memorandum of Understanding for one 36,000-GRT, 540-guest, ultra-luxury vessel from Italian shipbuilder Fincantieri with delivery scheduled for the fourth quarter of 2009. The company has also signed an option for a sister ship with Fincantieri.

The agreement with Fincantieri is conditional to final contract and financing. However, an irrevocable banking commitment, fully underwritten, has already been obtained and is only subject to the final loan agreement.

"This is a very exciting time for our company as we are now poised to further develop our unique style of luxury travel with a new generation of ship design," said Manfredi Lefebvre,Silversea's chairman. "Fincantieri is the ideal shipbuilder to craft our new luxury vessel that will carry on our tradition of being an innovator and trendsetter in ultra-luxury cruising."

Amerigo Perasso, Silversea's president, added "This newbuild order shows great confidence in the luxury segment's potential for greater demand. Silversea will be well positioned to fully meet this future demand in North America and our international markets."

The newbuild order is the first one for Silversea since 1998 when contracts for Silver Shadow and Silver Whisper were signed. The award-winning vessels entered into service in 2000 and 2001, respectively.

With the newbuild, Silversea's overall fleet capacity will grow from 1,356 berths to 1,896 berths, representing a 40% increase.

Albert Peter, who has served as chief executive officer since 2001, is transitioning to deputy chairman of Silversea Leisure and Travel, an affiliate company based in Monaco and led by Silversea Cruise Holding Ltd. chairman Manfredi Lefebvre.  The unit's focus is the pursuit of investment opportunities in the travel and leisure markets.

Lefebvre will continue as Silversea Cruise Holding Ltd. chairman, overseeing the group's strategy, based in the Monaco headquarters.

Amerigo Perasso has been promoted to become Silversea's president, responsible for the day-to-day operations of the company and will also be based in Monaco.  The sales and marketing, revenue management, vessel operations, finance, information technology, human resources and legal departments will report to him.

Perasso, 41, was appointed as chief financial and revenue officer in 2004 and joined the Silversea group of companies in 1997, working on the project that led to the construction of Silver Shadow and Silver Whisper.

David Morris has been promoted to executive vice president, worldwide sales and marketing. Morris joined the Silversea executive team in 2003 as senior vice president of sales for North America and was promoted in 2006 to executive vice president of sales and marketing for North America.  He brings a wealth of experience and management expertise, forged during a career of over 30 years in the cruise industry, to this key position.  Morris will report to the president and will continue to be based in the Fort Lauderdale office.

Commenting on the organizational changes, Lefebvre said, "We are very grateful to Albert for his terrific contribution to Silversea as chief executive over the past six years and are very glad he will continue as a key player in future developments that shareholders have planned.  He has guided the company through challenging times, ensuring with shareholders' support Silversea's survival post 9/11, and has done much to ensure the company's financial success and return to profitability.  We will continue to draw on his very extensive and wide-ranging experience to develop our leisure and travel investment unit."

Lefebvre continued, "Our promotion of Amerigo Perasso to president is as a result of our trust in his ability to maintain the core management that has been a key element in our profitability and to further strengthen the team, allowing the company to continue its growth and expansion."

Lefebvre concluded with a heartfelt thanks to the entire Silversea team, stating "Words are not sufficient to express our sincere thanks to our valued team, which has supported our growth and remains fully committed to keeping our company's top position in the ultra-luxury cruise industry."

Silversea Cruises is recognized as an innovator in the luxury segment, offering guests large-ship amenities aboard four intimate vessels, Silver Cloud, Silver Wind, Silver Shadow, and Silver Whisper, all designed to offer an atmosphere of conviviality and casual elegance. For the ninth year, Silversea was named "Number One" small-ship line in the 2005 "Readers' Choice" survey conducted by Condé Nast Traveler magazine.  For the sixth time, Silversea was selected "World's Best" small-ship line in the 2004 Travel + Leisure readers' poll.