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Vosper Thornycroft (VSP)

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Thursday 07 June, 2001

Vosper Thornycroft

New Contract

Vosper Thornycroft Holdings PLC
7 June 2001


FOR IMMEDIATE RELEASE                                7 JUNE 2001



                       VOSPER THORNYCROFT HOLDINGS PLC

                                 NEW CONTRACT

Vosper Thornycroft Holdings plc ('VT') has secured a contract to build the
world's biggest composite sloop rigged super yacht at its Southampton
shipyard.

Work on the high performance sailing yacht (over 70 metres in length) will
start immediately and will sustain around 100 jobs at the shipyard for the
next two years. In addition to other work already secured, the luxury yacht
contract will further help to bridge the production gap which exists at VT
between now and the anticipated start of construction on the Royal Navy's new
Type 45 destroyer in 2003.

VT Chief Executive Martin Jay commented: 'Following the contract to build
offshore patrol vessels for the Royal Navy, this is another significant step
towards keeping our workforce fully employed until the Type 45 programme
starts production.'