April 2006

Dear friends, April 12, 2006

We are about to embark on a new venture, one we are very proud to announce: Moores Marine just purchased 18 acres at Jarrett Bay Marine Industrial Park in Beaufort, N.C.

As a member of the park, we have 220-ton, 75-ton and 30-ton Travelifts at our disposal.

Our Beaufort property will be designed to cater to American-built wooden yachts, offering wooden boat supplies, craftsmen and tradesmen.

Why Beaufort? By the way, it’s pronounced Bofort with a long O, I got yelled more than a few times for pronouncing it Buford, which is in South Carolina.

This historic area is steeped in maritime history, from whalers to wooden boats. The area has a great lineage of wooden boat builders with Harkers Island, where people built boats in their yards and neighbors pushed them into the water to Jarrett Bay, famous for their fine sports fishing boats.

This summer, Beaufort will be hosting tall ships. There’s also a wonderful maritime museum, grand historic homes, sunken ships, pirate history, an island where wild ponies roam, and more. In other words, it’s a great place to visit for our clients and a wonderful place for our business.

Enclosed is a map to our future site and home.

As for Moores Marine of the Palm Beaches, or “Moores Marine South,” we’ll be here for a long time to come although we will be moving major projects to our North Carolina site as the property comes online, starting in 2007.

A lot of people helped us with this venture to find and acquire our new facility, including Dew Forbes and Jeff Fuller with Jarrett Bay, our new neighbor Rick McGough with Coastal Yacht Hangars LLC., our very patient realtor Walter Compton, our engineer Carl Huddle and especially Dave Inscoe, Carteret County’s economic development director and Mike Bradley, North Carolina’s marine industry recruitment chief.

We have never felt so wanted and welcomed. Thank you.

Enclosed is a limited edition license-plate to celebrate our new venture.

Sincerely,

James P. Moores