WASHINGTON, NC -- (Marketwire) -- 06/11/09 -- Fountain Powerboat Industries, Inc. (PINKSHEETS: FPWB) today announced that it has retained an investment banker to assist the company in exploring strategic alternatives. Fountain has hired Jacobs Capital, based in Raleigh, North Carolina (www.JacobsCapital.net), to seek a partner that can provide additional capital to the company to support its operations during the present economic downturn and to help finance future growth.

According to Fountain Chairman and CEO Reggie Fountain, "The present market for boating is not immune to the same forces impacting the auto industry and the overall economy. Fountain Powerboats is one of the premier brands in the powerboat industry, and we plan to be a survivor of the current industry shakeout. We have unparalleled customer loyalty, which has allowed us to see less falloff than most of our competitors. From experience, we know the companies that come through this recession will be poised to capture even greater market share."

Fountain Powerboats was recently rated by Soundings Trade Only as the second most searched brand on www.BoatTrader.com in the 30 to 40 foot and 40 to 50 foot powerboat categories in a 28-day activity report ending May 2009, behind only SeaRay, who produces many times more boats.

About Fountain Powerboat Industries, Inc.

Fountain Powerboat Industries, Inc. has its executive offices and manufacturing facilities along the Pamlico River in Beaufort County, North Carolina. The Company, through its wholly owned subsidiary, Fountain Powerboats, Inc., designs, manufactures and sells offshore sport boats, sport fishing boats and express cruisers that target the segment of the recreational power boat market where speed, performance, safety and quality are the main criteria for purchase. These recreational boats are based upon an innovative, award-winning design enabling world class performance while using standard reliable power. There are currently 12 buildings located on 65 acres totaling over 237,000 square feet accommodating 40 to 45 boats in various stages of construction at any one time. The present plant site can also accommodate up to 300,000 square feet of additional manufacturing space. The land and buildings are wholly owned by Fountain Powerboat Industries, Inc. and its subsidiary, Fountain Powerboats, Inc. For more information, visit www.fountainpowerboats.com.