Marquis Yachts signs sales deal in China

January 30, 2012

MARQUIS YACHTS, LLC FORMS JOINT VENTURE (JV) PARTNERSHIP WITH POLY TECHNOLOGY COMPANY OF CHINA FOR THE EXCLUSIVE SALES RIGHTS FOR CHINA

Above: Irwin Jacobs (r) and Chairman Jiang of China’s Poly Group at the formal signing of the new Poly Marquis joint venture in Beijing

Hopkins, Minnesota – Jan. 24, 2012 – It was announced today that Marquis Yachts, LLC (Marquis Yachts) with manufacturing and offices located in Wisconsin (wholly-owned subsidiary of J&D Acquisitions, LLC) has formed an exclusive partnership in China with one of China’s largest and most important state-owned companies, the Poly Technologies Inc. (Poly) for the sales and distribution rights for Marquis Yachts throughout China. The new JV will be called the Poly Marquis Yacht Co. Ltd. (Poly Marquis Company).

Irwin L. Jacobs, Chairman of J&D Acquisitions, LLC (J&D) stated, “This is one of the most important and exciting days I’ve ever experienced throughout my 35 years in the recreational boating industry. Our new partnership with Poly is clearly the most significant business event throughout our yachting company’s history. It is anticipated that over the next few years, China’s recreational yachting and boating market is emerging to become one of the largest recreational yachting markets in the world, and with our new Poly Marquis JV partnership, we’re very confident that the Poly Marquis Company will become one of China’s largest and most important sellers of Marquis Yachts in the world. Over the next 30 to 45 days, the Poly Marquis Company is opening a new fully-staffed distribution sales and full service center at the beautiful new Serenity Marina and Yacht Club in Sanya, China. The new Poly Marquis Yachting Center will maintain a completely stocked inventory of all new Marquis Yachts ranging in size from 42’ to 72’ that will supply the Marquis dealers throughout China. The new Sanya Marquis Yacht Center will have China’s most completely staffed service department with qualified in-house technicians to professionally service, manage and maintain Marquis customers’ needs throughout all of China.”

Above from left to right: Keith Carpenter (Vice President, J&D Acquisitions, LLC), Qu Fengxiang, Robert Van Grunsven (President, Marquis Yachts, LLC), Irwin Jacobs (Chairman of the Board, J&D Acquisitions, LLC), Jiang Lianxiang (Vice Chairman of the Board, Poly Technologies Inc.), Michael Marcotte (General Manager of Poly Marquis Yacht Co. Ltd.), Liu Yuan (Deputy General Manager of Poly Marquis Yachts Co. Ltd.)

Poly Chairman Jiang stated, “We believe that the recreational boating and yachting industry market in China will become one of the world’s largest and most important retail markets in a relatively short period of time. Poly has spent a great deal of time and effort in researching the world for a potential yacht manufacturing company to partner with Poly who we believe builds the highest quality yachts along with the most modern styling and forward-looking designs to meet the tastes and needs of the discerning Chinese consumers of today and in the future. After studying the yachting industry for over one year, Poly concluded that Marquis Yachts clearly excelled beyond all other yacht manufacturers on which we have done research in building the finest and most beautiful yachts in world.”

Poly is one of China’s largest and most important state-owned companies that manufactures and distributes throughout China and other parts of the world several of China’s finest, most well-recognized products, i.e. exclusive distributor and retailer through China for Ferrari, Maserati, and Mercedes Benz automobiles as well as several other high-quality products and cultural & art businesses such as artwork auction. Chairman Jiang further stated, “Poly Company has a very large, loyal and unique customer base that numbers in the tens of thousands of individuals who have purchased many of our high-end automobiles, jewelry, real- estate, and auction items that Poly sells and distributes throughout China, many of whom we believe will become customers of Marquis Yachts. Poly is committed to doing everything possible in supporting our newly-formed JV partnership with Marquis into becoming China’s largest and most successful yachting company.”

Above: Serenity Marina in Sanya, China – Photo: Godfrey Zwygart

Above: Marquis’ new sales and marketing offices at Serenity Marina in Sanya, China

Above: Marquis’ new 63’ Sport Bridge is being unveiled at the Miami International Boat Show February, 16 through February 20, 2012 and at Marquis’ new yacht center at Serenity Marina and Yacht Club in Sanya, China.

Marquis is having its annual customer cocktail party at the Miami Boat Show on February 17, 2012 where Mr. Jacobs will introduce Chairman Jiang of the Poly Company to the global boating media. Marquis will also be unveiling its all new 63’ Marquis Sport Bridge at the Miami Boat Show. On April 6, 2012 in China, the Poly Marquis Company will be hosting a reception for dignitaries, invited guests and Chinese customers at the Visun Royal Yacht Club in Sanya, China, where it will have a major presence of its Marquis Yachts on display.

Mr. Michael Marcotte will become the new General Manager of the Poly Marquis JV and will work out of the new Poly Marquis JV office at the Sanya Serenity Marina and Yacht Club.

About J&D – J&D Acquisitions, LLC is the parent company for Larson, Striper, Triumph, Marquis and Carver boat companies and is a 50/50 partnership owned by John Paul DeJoria and ILJ Enterprises. See websites (www.marquisyachts.com, www.carveryachts.com, www.larsonboats.com, www.triumphboats.com, www.striperboats.com, www.vectechnology.com).

About Poly – Poly Group is a multinational corporation mainly engaged in defense-related equipment, R&D and trade, real estate development, culture and arts business, as well mineral resources investment and development whose businesses concern national security and national economic lifeline. Poly Technologies Inc. with its subsidiaries owns the exclusive distributor throughout China for Ferrari, Maserati automobiles and retains one of Mercedes Benz’ largest dealerships in China located in Beijing. See website (www.poly.com.cn).