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In addition to confirming the Volvo Ocean Race 2005-2006, full backing will be given to support additional sailing events in co-operation with other partners. In doing so, Volvo is supporting the sport of sailing in a broader and more beneficial way.

Final plans for the next Volvo Ocean Race were approved, and a press conference will be held in Auckland, New Zealand, on 10 February, where plans will be revealed. The new concepts now formalised are as a result of much discussion with ocean racing competitors, designers, potential entries and commercial partners, and the plans reflect the consensus of opinion distilled from this detailed consultation process. The details of the new design of race boat, together with the revised racetrack and new format will be confirmed in Auckland.

Sailing exemplifies the finest traits of human endeavour and the success of the Volvo Ocean Race 2001-2002 has augmented the belief that sailing and ocean racing is the sport that Volvo wishes to be associated with in an integrated and long term partnership.

Chief Executive of the Volvo Ocean Race, Glenn Bourke said, "A great deal of thought and research has gone into our planning for the Volvo Ocean Race 2005-2006 and I am delighted that we have full approval for the new ideas we have been developing. We believe the sailing community will be excited with Volvo's global partnership with the sport and its total endorsement of the Volvo Ocean Race should allow teams to demonstrate a stable and committed platform to generate their own sponsor opportunities".