Westerbeke Receives Federal Court of Appeals Decision

Business Wire, August 30, 2002

Business Editors

TAUNTON, Mass.--(BUSINESS WIRE)--Aug. 30, 2002

Westerbeke Corporation (NASDAQ: WTBK) announced today that the Federal Court of Appeals for the Second Circuit has reversed the decision of the Federal District Court for the Southern District of New York which vacated the damages award to Westerbeke in its arbitration against Daihatsu Motor Company, Ltd., and that the Court of Appeals has remanded the case to the District Court with instructions for the District Court to confirm the $4.2 million arbitral award in favor of Westerbeke. Westerbeke also stated that there can be no assurance that Daihatsu will not further defend enforcement of the award.

Westerbeke Corporation designs, manufactures and markets marine engine and air conditioning products intended principally for recreational marine applications.