September 6, 2006

FOR IMMEDIATE RELEASE

Northern Marine attracts buyer in fast growing market.

ANACORTES Wash., As the worldwide yacht market continues to experience explosive growth, Northern Marine, known for its quality high-end yacht building capability was a prime candidate for acquisition. The Renton based buyer, Ashton Capital Corporation led by CEO Doug Mergenthaler, became interested in the yard after contracting with them last year to build their own corporate yacht, and today announced that it has purchased the yacht building company.

Northern Marine, founded in 1995 by ship builder Bud LeMieux, has recently attracted worldwide attention with the 152' "Lia Fail" and the 132' "Magic", both earning international recognition during the 2005 Ft Lauderdale International Boat Show. This worldwide acclaim already has attracted a number of potential buyers interested in the current production of Northern Marine's 151' tri-deck series designed by renowned yacht designer Jonathan Quinn Barnett.

With the first of the new JQB designed 151 series scheduled to be finished in late October (available for sale), the second boat (sold) all ready to move forward into the production line and the third hull nearing its scheduled start date, the Anacortes yard is in full stride with this semi-custom line of luxury mega yachts.

Taking the reigns of the yard will be President, Ken Kurtenbach, formerly with PSA Composites of Kent Washington, another Ashton holding. Mr. Kurtenbach is no stranger to managing successful growth, according to Doug Mergenthaler. His leadership and financial guidance has helped a succession of companies in reaching their growth goals over the last 20 years.

Mr. Kurtenbach was quick to share his excitement: "The potential for Northern Marine is fantastic, Bud Lemieux has put a great group of skilled craftsmen together and it shows in the quality of the Northern Marine product. I'm looking forward to working with Bud to grow the yard to its full potential".

Together, Kurtenbach and LeMieux will lead the operation into the next phase of growth. With plans to add several new models to their series of expedition cruisers as well as the luxury yacht lineup, the yard will be adding production staff and expanding the production facility in the coming year.

For additional information contact:

Dennis McCormick
Northern Marine Co. LLC
360-299-8400 x 108
dennism@northernmarine.com

Fred Hammerquist
Hammerquist & Nebeker
425-869-0191
fred@hammerquistnebeker.com