Fountain Powerboat Industries, Inc. Reports Outstanding Sales at the 2004 Miami International Boat Show

Washington, NC, FEBRUARY 19, 2004 -- Fountain Powerboat Industries, Inc. (NASDAQ:FPWR), the leading manufacturer of high performance sport boats, fish boats and express cruisers, today announced outstanding sales at the recently completed 2004 Miami International Boat Show.

Fountain Powerboats and its dealers have experienced great success at the New York International, Chicago, Los Angeles and Atlantic City boat shows, and the sales at the Miami International show far exceeded any in the company's history for a single event, according to Fountain President and Chief Executive Officer Reginald M. Fountain. "Sales at Miami exceeded $13.3 million at wholesale, which is 150% more than sales at the 2003 Miami Boat Show", he said.

Unit sales were distributed throughout the broad product line with particularly strong sales of the 48 Express Cruiser and 42 foot sport boats, and spectacular sales of the new 38LX Express Fish Cruiser, which was introduced last November.

Fountain said, "Our new 38LX boat has been well received with much acclaim and has leaped from introduction to sold out for the balance of our 2004 fiscal year, with a backlog continuing into fiscal 2005. We are gearing up to increase the production of the 38LX and 48 Express Cruiser due to the strong demand for both of these models".