SOURCE: Fountain Powerboats, Inc.

November 29, 2005 09:00 ET

Fountain Powerboat Sales Team Signs Over $2 Million in New Orders at 46th Annual Fort Lauderdale International Boat Show

Current Sales Backlog of Approximately $56 Million

WASHINGTON, NC -- (MARKET WIRE) -- November 29, 2005 -- Fountain Powerboat Industries, Inc. (AMEX: FPB), a leading manufacturer of high performance sport boats, fish boats and express cruisers, announced that is has signed orders in excess of $2 million at the Fort Lauderdale International Boat Show. The new sales increased the Company's existing backlog to approximately $56 million.

Just one week after Hurricane Wilma, the 46th Fort Lauderdale International Boat Show opened with a seascape of more than 800 boats and yachts in four in-water sites and hundreds more on land and at the Broward County Convention Center. "Our entire sales team, which included members from four of our dealers located in Florida, did a tremendous job in presenting our product line of performance fish boats, sport boats and express cruisers," said Nick Miller, Fountain Powerboat's Director of Dealer Development. "The better than expected turnout of boating enthusiasts kept our sales team busy answering questions and closing orders in excess of $2 million."

"We were pleased to see the 'show must go on' attitude as thousands of people in the South Florida workforce, from cab companies, hotels and restaurants, to other marine-related businesses, depend on revenue from this boat show," commented Fountain Powerboat's Chief Executive Officer and President Reginald M. Fountain, Jr. "We look at the Fort Lauderdale show as one of the most prominent shows in the marine industry and, in spite of the devastation from Hurricane Wilma, we were pleased to be able to participate in this year's show."

The Company also announced the third session of Fountain University will be held at the company's corporate facilities in Washington, North Carolina, on December 6, 7, and 8. "Our continuing education programs ensure that every single salesperson in our dealer organization is familiar with the many features of our 27 plus boat models and can share the features and their benefits with customers and potential customers," continued Fountain. "Our entire management team is confident that the increase in sales is due in part to a well-trained sales team that knows its products and how to differentiate them from the competition."

About Fountain Powerboat Industries, Inc.

Fountain Powerboat Industries, founded in 1978, has its executive offices and manufacturing facilities on 66 acres along the Pamlico River in Beaufort County, North Carolina. The company designs, manufactures, and sells offshore sport boats, sport fishing boats and sport cruisers that target the segment of the recreational power boat market where speed, performance, safety and quality are the main criteria for purchase. These recreational boats are based upon an innovative, award-winning design enabling world-class performance while using standard reliable power. There are currently 12 buildings totaling over 235,000 square feet located on 15 acres which can accommodate 30 to 40 boats in various stages of construction at any one time. The present plant site can accommodate up to 300,000 square feet of additional manufacturing space. The land and buildings are wholly owned by Fountain Powerboat Industries. For more information, visit www.fountainpowerboats.com.

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:

Except for the historical information contained herein, this press release contains forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. Such forward-looking statements are subject to known and unknown risks, uncertainties or other factors that may cause the company's actual results to be materially different from historical results or any results expressed or implied by such forward-looking statements. We assume no obligation to update any forward-looking statements to reflect events or circumstances arising after the date hereof. The potential risks and uncertainties which could cause actual growth and results to differ materially include, but are not limited to, customer acceptance of the company's services, products and fee structures, the success of the company's brand development efforts, the volatile and competitive nature of the industry, and changes in domestic and international market conditions, and foreign exchange rates. Further information on the factors and risks that could affect Fountain Powerboat Industries, Inc.'s business, financial condition and results of operations are included under the "Risk Factors" or "Factors Affecting our Operating Results" sections of Fountain Powerboat Industries, Inc. public filings with the Securities and Exchange Commission, available at (http://www.sec.gov).

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