Southampton, October 25, 2015

Since the loss of Polina Star III on 04 July 2015, Oyster has worked extensively with independent experts to establish the cause of the casualty, safety being an absolute priority in the design and build of all Oyster yachts. As an integral part of this process we have looked through the history of the vessel since launch in early summer 2014 and data received. This has included correspondence with the owner during his maiden voyage, his transatlantic crossing with the ARC in November 2014, his Caribbean experiences and his return trip across the Atlantic to the Azores in the month before the loss of the vessel off the Spanish Coast. We have compared this data with the in-house detailed knowledge of the design of the Oyster 825 and its method of construction and have put all this information up for examination by a panel of independent experts. We have thoroughly investigated the 2 other Oyster 825s on the water, which between them have sailed more than 10,000 miles, including transatlantic crossings in severe weather and hard racing in Superyacht regattas.

Through this process we have verified that all other Oyster 825s are safe. We are delighted that the Oyster 825s Albatros and Maegan will be taking part in the 2015 ARC next month and that the owners of Oyster 825s Reina - and two others in build - have all declared their plans to sail in the Oyster World Rally starting in January 2017. Importantly, we have also verified that no other owner of an Oyster yacht need be concerned that whatever happened to Polina Star III affects the integrity of their yacht.

26 November 2015 Update 
Oyster continues to assist the investigators of the loss of Polina Star III and has had a team of experts attend the vessel for several days in Spain since her recovery in late October. We understand that the investigations are making progress and that official public statements will be made once investigations are completed. Oyster believes that the interest of the Owner and other stakeholders is best served by waiting for the investigations to be completed.

We fully understand the dismay felt by the owner following the loss of Polina Star III and share his concerns; we will continue to work with him as best we are able.

Oyster Marine.