YACHTING

Future assured for Cutty Sark Tall Ships' Races

The Sail Training Association has announced that its wholly-owned subsidiary, International STA Ltd (ISTA), has accepted a funding package in excess of £3 million from a European-based media and entertainment company, underwriting the Summer European Tall Ships Race event for a further four years commencing in 2003.

Andrew Salvesen, Chairman of ISTA, commented: 'Following a period of uncertainty, this is fantastic news for the international fleet of tall ships and the young people that participate in our races, the host ports and for the international family that provides such valuable support on a volunteer basis.'

To commemorate 30 years' sponsorship, Berry Bros & Rudd have agreed that this prestigious event can continue to be titled Cutty Sark Tall Ships' Races in recognition of the famous sailing clipper and her maritime heritage. Additionally, the coveted Cutty Sark Trophy will continue to be awarded annually to the ship which has contributed the most towards international understanding and friendship.

Christopher Berry Green, Chairman of Berry Bros & Rudd said: 'Although Berry Bros & Rudd will no longer be involved in the races after this year, we are delighted that the event will continue to be graced with the name of Cutty Sark and thereby benefit from both continuity and recognition by its international participants and supporters.'

Full details of the arrangements will be formally announced in Portsmouth in August 2002 at the conclusion of this year's race.

With effect from 2 May 2002, International STA Ltd (ISTA) has changed its name to Cutty Sark Tall Ships' Races Ltd.

The Sail Training Association is the leading UK Charity dedicated to the personal development of young people through the tall ships' experience.

* Berry Bros & Rudd: 020 739 6666/ MHL Press, Publicity & Events: 01489 575227.