Contact: James Canty

                         Communications with
                         Windjammer Barefoot Cruises’
                         Flagship S/V Fantome Remain Out
                         --Massive Coordinated Search Efforts Underway

                         MIAMI BEACH, FLA – Representatives of Miami Beach
                         based Windjammer Barefoot Cruises, Ltd. have been
                         unable to reestablish communications with its flagship, the
                         282-foot four-masted schooner S/V Fantome. The cruise
                         line lost contact with the ship late Tuesday (October 27)
                         afternoon as Hurricane Mitch approached its position off
                         the coast of Honduras.

                         The ship, with a crew of 31, was attempting to skirt the
                         lower reaches of the storm after dropping off its 100
                         passengers in Belize on Monday. She was heading on a
                         course of 085 degrees (easterly) about 10 miles South of
                         the island of Guanaja off the Honduran Coast (16.14N
                         86.04 W) when the onboard satellite telephone ceased
                         functioning. She has not been heard from since.

                         The U.S. Coast Guard and numerous private aircraft
                         chartered by Windjammer have been searching the area
                         since late Friday but have been hampered by the remnants
                         of Hurricane Mitch. Two C-130 U.S. Coast Guard search
                         planes today searched an area directly north of the
                         Honduran coast while the private search planes searched
                         area further east and along the Nicaraguan "Mosquito
                         Coast." Should the ship not be located, plans are to search
                         along the Belize coast and along the Mexican Yucatan
                         Peninsula. The U.S. Coast Guard has issued a navigation
                         Alert requesting all ships in the vicinity to keep a lookout
                         for Fantome in conjunction with AMVER international
                         agreements.

                         Additionally, the Honduran Navy has offered assistance as
                         well as the British Navy which has a ship in the area, the
                         HMS Sheffield.
 
                         The Jamaican Coast Guard has advised their vessels to
                         maintain a watch while patrolling and the Grand Cayman
                         Airport has requested all air planes heading in the general
                         area to maintain a lookout for the vessel.

                         "We’re anxious to hear from her, " said Michael Burke,
                         Jr., President of Operations for Windjammer. "A 24 hour a
                         day command center has been established, led by a retired
                         U.S. Coast Commander experienced in search and rescue
                         missions. In addition, the ship is equipped with the latest
                         in EPIRB (Emergency Position Indicating Radio Beacon)
                         technology. This would allow the crew to send a satellite
                         signal if they were in distress. So far, a signal has not been
                         received," concluded Burke.

                         The weather in the area continues to improve as the
                         remnants of Mitch move across Central America into the
                         Pacific, allowing for better search conditions. Family of
                         the crew are being apprised of search progress.