Date: 8/4/02
Author: Correct Craft Press Release

Related Items:
JAG TV Star Catherine Bell to Tout Nautiques

ORLANDO, FL - July 16, 2002 Correct Craft, Inc. announced today the retirement of Walter N. Meloon, effective October 31, 2002. Walter has been with Correct Craft for the last 40 years, from the position of Production Manager to Vice President/General Manager and then for the past 18 years as President/CEO. Walt, as he is known in the industry, stated, "My grandchildren have gotten to that age that I want to spend more time with them. I have been at the helm of Correct Craft for most of my adult life. It is only with age that you begin to understand what your real priorities should be."

The Board of Directors, on behalf of the shareholders, commends Walter N. Meloon for his devotion, service to and leadership of Correct Craft, during which time the Meloon family legacy of building boats to the glory of God has continued. The tradition of building the premier waterski and wakeboard boats in the industry has carried on and been expanded to a worldwide presence. Shareholder value has dramatically increased and corporate financial strength was stabilized and substantially improved.

During Walt's tenure, Correct Craft moved it's corporate offices to their current facilities. Correct Craft introduced the 2001 Ski Nautique®, the TSC^TM and TSC2^TM Nautique hulls, the Air Nautique®, the patented Flight Control Tower®: and Launch Control System® and innovative standards that have been accepted by the industry as commonplace. Walt will continue to serve as President of Southeast Correct Craft, a retail sales and service company that also functions as a regional service center for Correct Craft dealers located in the southeast.

The Board of Directors has appointed Don Pennington, who has been a member of the board for 20 years, to take over the position of President.

 Return To WakeWorld News