Ericsson Racing Team (STO:ERIC) CAPE TOWN, South Africa (Nov. 15, 2008) - Ericsson Racing Team's two yachts in the Volvo Ocean Race are the early pacesetters on Leg 2, a 4,450-nautical-mile jaunt to Cochin, India.

Team observers reported that Ericsson 4, skippered by Brazilian Torben Grael, and Ericsson 3, led by Sweden's Anders Lewander, were running 1-2 as they cleared Camps Bay slightly more than two hours after the start, with Green Dragon third.

The start occurred in glorious conditions, even though it was delayed by about 20 minutes due to the spectator fleet crowding the start line. The wind built from around 10 knots at the time of postponement to 15 to 20 knots by the time the fleet cleared out of Table Bay.

When the start gun fired, Ericsson 4 was second boat from the committee boat end, just to leeward of Puma, and flying a fractional gennaker. Ericsson 3 was farther down the line with a masthead asymmetric spinnaker set.

The fleet completed a short triangle around Table Bay before heading out to sea. Puma led around the triangle, but Ericsson 4 was second at each of the three marks.

Ericsson 3 was set to round the second mark in fourth, climbing up from seventh at the first mark. But its progress was hampered during a tack when the leech (back end) of the small jib caught on the mast-mounted radar. The leech tore and the radar fell off the mast. The sail can be repaired onboard, but it's unclear whether the Nordic crew will have use of the radar for the approximately 18-day leg.

After the fleet rounded the second mark they turned southwesterly and onto a power reach. Spray flew off the bows of the boats as they took off at 25 knots under mainsail and small jibs - power reaching conditions for which the Volvo Open 70 was designed.

Moments later, however, the quick sailing was halted when the crews fell into a big hole caused by the shadow of Table Mountain and the incoming west/southwest wind. Boats that stayed closer to shore, such as Ericsson 4 and Green Dragon, seemed to fare better than those just slightly farther offshore, such as Puma.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.





Ericsson Racing Team

ISIN: SE0000108656

Stock Identifier: SSE.ERICR


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