Riviera Syndication statement

8:21 AM Tue 12 May 2009 GMT

'Shares in a Riviera 4700 are available at Sanctuary Cove Boat Show.' John Russell Click Here to view large photo

Riviera Syndication has announced that it is not affected by the appointment of Receivers to luxury boat builder Riviera on Friday, May 8, 2009. Riviera Syndication continues to serve its client base of more than 60 families and maintains healthy revenues and cash flow.

Riviera Syndication is an independently-owned company that sells and maintains shares in luxury boats in locations around Australia.

The owners of Riviera Syndication, John and Sharon Russell, have worked in the boating industry for more than 30 years and were founders of the luxury boat syndication business model in 1999.

Riviera Syndication CEO John Russell said: 'We were saddened by the news about Riviera and have assured our clients that Riviera Syndication continues to care for and maintain their boats in the first class condition for which we have an enviable reputation.

'We are encouraged to hear that the Receivers and Managers are looking to preserve the long-term viability of Riviera, to restructure the business and sell it as a going concern.'

Riviera Syndication's John and Sharon Russell. - John Russell Click Here to view large photo

Riviera Syndication will have a strong presence at the Sanctuary Cove International Boat Show, with two boats on display and a range of offerings for clients both in Queensland and in new locations in Sydney and Perth.

Riviera Syndication is continuing its close bond with Riviera for the provision of luxury boats and looks forward to working with Riviera into the future.

Further information - John Russell, Riviera Syndication

Phone (07) 3890 2902 Email [email protected]

by Denby Browning

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