Rick Kane, Managing Director, Raymarine, commented:

Our customers remain the company’s number one priority. We have a strong market position, a diverse product range and will remain focused on delivering innovative products and technology to boaters around the world. We look forward to growing the business internationally with the full support of Mercury Private Equity in order to maintain Raymarine’s world-leading position.

Nick Turner, Director, Mercury Private Equity, commented

Raymarine is an attractive investment opportunity completed by Mercury Private Equity’s general LBO team. It is a market leading business, in common with many of our other investments. We look forward to working with Raymarine’s strong management team to bring to fruition the exciting growth plans they have for the business.

Anthony Vickery, Partner, KPMG Corporate Finance added:

We are seeing more and more strong management buy out opportunities arising throughout Europe – and have been heavily involved with a number coming out from North American ownership. The Recreational Marine buy-out combines one of the strongest management teams in the industry with a high quality market leading business and I expect to see significant developments in the business over the next few years. I wish both the management and their funders every success.

For further information:

Nick Turner/Helen Lewis Tel: +1 44 020 7743 3000 Mercury Private Equity

Rick Kane/Stuart Thompson Raymarine Tel: +1 44 0239 2693611

Notes to Editors

Raytheon Recreational Marine

Raytheon Recreational Marine (Raymarine) is the market leader in the recreational marine electronics industry. It is probably best known for radar, fishfinder and navigation systems, developed under the Raytheon brand, and autopilot and instrument systems, under the Autohelm brand. The company offers the leisure boater an unparalleled range of innovative electronics system products.

The principal functions of design, manufacturing and international distribution originate from the company’s headquarters in Portsmouth, UK. It also has operations in Nashua, New Hampshire, from where the US sales and support operations are managed, and has a dedicated engineering facility located in Fort Lauderdale, Florida. Raytheon Recreational Marine is represented internationally through an extensive network of distributors and dealers.

The management team involved in the buy-out of the business from Raytheon Company are: Rick Kane (MD), Kieran Breheny (Engineering), Les Duerdin (Logistics), Ray Green (Manufacturing), Martin McBride (Finance) and Stuart Thompson (Marketing).

Mercury Private Equity (MPE) is a leading provider of private equity capital with offices in the UK and Germany. It manages funds of over €1 billion.

MPE invests in all businesses with enterprise values of between £10 million (€15 million) and £250 million (€400 million) in western Europe. In those areas where it has specialist expertise its remit is wider. These are: healthcare, business services and information & communications technology.

MPE has recently separated from its parent company, Merrill Lynch Investment Managers Limited (MLIM), to become an independent private equity house.

Mercury Private Equity is the trading name of MPE Investment Managers Limited. Regulated by IMRO.

KPMG

KPMG Corporate Finance provides a range of independent, investment banking services internationally, specialising in mid-market sized transactions for all sizes of clients. KPMG Corporate Finance draws upon the experience of advising on more M&A deals globally than any other firm (516 in 1999, Thomson Financial Securities Data) to create value for clients in long term relationships.