Majestic America Line Is Put Up For Sale
NEWPORT BEACH, Calif., April 29, 2008 -- Majestic America Line is officially for sale, according to an announcement today by owner Ambassadors International (which also owns Windstar).
This announcement follows a year of difficulties including management resignations, accidents and Congress' refusal to allow the line's historic Delta Queen to operate beyond this year.
Joe Ueberroth, Chairman and CEO of the Company, stated, "We are committed to operating the 2008 season of Majestic America Line while conducting our exit of the business in an orderly and effective manner. Several credible parties have expressed a sincere interest in acquiring some and/or all the assets of Majestic America Line and building upon the efforts and investments we have made in delivering unique cruise experiences that celebrate American history, culture and our magnificent waterways. In addition, our decision to exit Majestic America Line enables us to focus our efforts and investments on the successes of Windstar Cruises. Our dedicated American crew remain committed to providing our customers with extraordinary cruises and key vendors and business partners are working with us to ensure a smooth transition."
The Company has a conference call scheduled on Tuesday, May 6, 2008 to discuss the financial results for the first quarter of 2008 and at that time management will elaborate further on the decision to sell Majestic America Line.
Ambassadors International, Inc. describes itself as follows:
Ambassadors International, Inc. is a cruise, marine, and travel and event company. The Company operates Windstar Cruises, an international, luxury cruise line and Majestic America Line, a North American river and coastal cruising company. The Company is also a global provider of construction and consulting services to marina owners. In addition, the Company provides travel and event services. The Company is headquartered in Newport Beach, California. In this press release, any reference to "Company," "Ambassadors," "management," "we," "us" and "our" refers to Ambassadors International, Inc. and its management team.

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