Milan - Italy, March 1, 2006 – Angelo Bonati, CEO of OFFICINE PANERAI, today announced a sponsorship agreement that names PANERAI as the Platinum Sponsor of the 19th “Antigua Classic Yacht Regatta” promoted by the Antigua Yacht Club and of the 34th “Annual Opera House Cup Regatta” in Nantucket, Massachusetts promoted by the Nantucket Community Sailing. In addition PANERAI will also be, at both events, the Regatta’s Official Time Keeper.

In 2005 PANERAI successfully launched in the Mediterranean the “Panerai Classic Yachts Challenge” in partnership with CIM - the Mediterranean International Committee, and AIVE - the Italian Classic Yachts Association. Meetings and races are held yearly at some of the most celebrated European yachting locations, where thousands of sailors take part with the sole purpose of appreciating the cultural heritage of these great masters of the sea.

For 2006 PANERAI chose to expand its program by adding two of the most renowned event in the Americas. In its 19th year, the Antigua Classic Yacht Regatta has become a world-class event ranked as one of the top classic regatta by all classic yacht owners thanks to island pristine waters, ideal winds and relaxed atmosphere. The regatta, which is embraces of a series of cherished sailing events, will be held in Antigua, West Indies from April 20th to April 25th, 2006.

Local Nantucket sailors created the Opera House Cup Regatta 34 years ago in order to establish a racing event for wooden sailboats; the proprietor of the famed Opera House Cup restaurant donated the trophy, and the race was born. Nantucket is known as one of the greatest American vacation place with some of the most beautiful beaches, and the waters surrounding the island are considerate to be sailor’s paradise. The regatta will be held in Nantucket, Massachusetts from August 18th to August 20th, 2006.

PANERAI is a brand of values, which arise from its origins: Florence, city of art. A characteristic expression of Italian craftsmanship with historic tradition associated with those whose values are still current today, strengthened by the great attention, which PANERAI devotes to the quality of its creations, and by the depth of technical experience that is expressed through its production.

The presence of PANERAI is planned to enrich the event with new elements and to encourage the participation of yacht owners and enthusiasts. Today PANERAI is one of the most prestigious brands in haute horlogerie and its history represents a proud example of research, innovation and tradition, as well as being irrevocably linked with great nautical exploits and the sea.

North American Contact: Belinda Mayo - Communications Director Panerai North America 645 Fifth Av. 5th Floor New York, NY 10022 Tel. (212) 891-2318 belinda.mayo@panerai.com

Latin American Contact: Gladys Tirse - Marketing Manager Panerai Latin America 550 Biltmore Way, PH1 Coral Gables, FL 33134 Tel. (305) 448-4111 gladys.tirse@panerai.com

Officine Panerai | Via L. di Breme, 45 | 20156 Milan, Italy | www.panerai.com
Ariella Fael – Press Manager | Tel. +39 (02) 30.26.443 | ariella.fael@panerai.com