Ambassadors International, Inc. Announces Its Plans to Sell Majestic America Line

NEWPORT BEACH, Calif., April 29  /PRNewswire-FirstCall/ -- Ambassadors International, Inc.  announces its plans to sell Majestic America Line.

Joe Ueberroth, Chairman and CEO of the Company, stated, "We are committed to operating the 2008 season of Majestic America Line while conducting our exit of the business in an orderly and effective manner.  Several credible parties have expressed a sincere interest in acquiring some and/or all the assets of Majestic America Line and building upon the efforts and investments we have made in delivering unique cruise experiences that celebrate American history, culture and our magnificent waterways.  In addition, our decision to exit Majestic America Line enables us to focus our efforts and investments on the successes of Windstar Cruises.  Our dedicated American crew remain committed to providing our customers with extraordinary cruises and key vendors and business partners are working with us to ensure a smooth transition."

The Company has a conference call scheduled on Tuesday, May 6, 2008 to discuss the financial results for the first quarter of 2008 and at that time management will elaborate further on the decision to sell Majestic America Line.

About Ambassadors International, Inc.

Ambassadors International, Inc. is a cruise, marine, and travel and event company. The Company operates Windstar Cruises, an international, luxury cruise line and Majestic America Line, a North American river and coastal cruising company.  The Company is also a global provider of construction and consulting services to marina owners.  In addition, the Company provides travel and event services. The Company is headquartered in Newport Beach, California.  In this press release, any reference to "Company," "Ambassadors," "management," "we," "us" and "our" refers to Ambassadors International, Inc. and its management team.

Forward-Looking Statements

This press release contains forward-looking statements, including without limitation, statements regarding anticipated future financial performance that involve various risks and uncertainties.  The forward-looking statements contained in this release are based on our current expectations and entail various risks and uncertainties that could cause our actual results to differ materially from those suggested in our forward-looking statements.  We believe that such risks and uncertainties include, among others, general economic and business conditions; overall conditions in the cruise, marine, travel and insurance industries; potential claims related to our reinsurance business; further declines in the fair market value of our investments; lower investment yields; unexpected events that disrupt the operations of our cruise operations; environmental related factors; our ability to successfully integrate the operations of companies or businesses we acquire and realize the expected benefits of our acquisitions; our ability to successfully and efficiently operate the businesses that we acquire; our ability to compete effectively in the U.S. and international cruise markets; our ability to compete effectively in the U.S. and international marina construction markets, including our ability to obtain construction contracts; our ability to effectively and efficiently manage our rapid growth; our ability to continue to identify attractive acquisition targets and consummate future acquisitions on favorable terms; our ability to accurately estimate contract risks; our ability to service our debt and other factors discussed more specifically in our annual, quarterly and periodic filings with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K.  Any projections provided in this release are based on limited information currently available to management and are subject to change.  We are providing this information as of the date of this release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

Additional Information

For further information please contact: Blake Barnett of Ambassadors International, Inc. at (949) 759-5900. 

Ambassadors International, Inc.