WASHINGTON, Mo., Oct. 30 /PRNewswire-FirstCall/ -- Challenger Powerboats, Inc. ("Challenger") (OTC:CPWB) (BULLETIN BOARD: CPWB) , today announced that its Board of Directors has declared a reverse split of its common stock, at a one-for-twenty ratio (every twenty shares being combined into one), effective at the opening of trading on October 31, 2007. Following the reverse stock split, the Company's common stock will trade under a new symbol CPBI on the OTC Bulletin Board. About Challenger Powerboats, Inc. Challenger Powerboats, Inc. designs and manufactures high performance 'go fast' offshore racing boats, family sport cruisers, jet boats and water ski tow boats under the brands 'Challenger Powerboats', 'Sugar Sand' and 'Gekko', which target the recreational boating market. Proven world-class technology is incorporated into the manufacturing of our award winning boats at the Company's 65,000 sq. ft. facility located on our 12 acre complex in Washington, Missouri and 80,000 sq. ft facility in Fargo, North Dakota. The Company's boats are sold through our dealer network in the United States, Canada, Mexico, Europe, Australia, the Middle East and Japan. In 2006, Gekko was selected as an official tow boat for the World Barefooting Championships, and the European Barefooting Championships in 2005. To find out more about Challenger Powerboats, Inc. (OTC:CPWB) (BULLETIN BOARD: CPWB) please visit http://www.challengerpowerboats.com/, http://www.sugarsand.com/, http://www.gekkosports.com/ or http://www.sec.gov/ to view the Company's public financial information and filings. Forward-Looking Statements This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law. Contact: Michael Novielli Malcolm McGuire Chairman, Challenger Powerboats, Inc. CCRI Financial Group Ph (845) 575-6770 x202 Ph (800) 828-0406 DATASOURCE: Challenger Powerboats, Inc. CONTACT: Michael Novielli, Chairman of Challenger Powerboats, Inc., +1-845-575-6770, ext. 202; or Malcolm McGuire of CCRI Financial Group, 1-800-828-0406, for Challenger Powerboats, Inc. Web site: http://www.challengerpowerboats.com/

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