SEOUL, South Korea -- (BUSINESS WIRE) --

UTOPIA announced the completion of successful testing of the hull and propellers for its US$1.1 billion residential ship - The UTOPIA. The vessel will be the most luxurious ship in the world. Its 200 residents will be able to travel to world famous cultural and sporting events in opulent style.

Chairman David Robb and Captain Harsheim inspect The UTOPIA hull (Photo: Business Wire)

The Chairman of UTOPIA Mr. David Robb said "This is a technological breakthrough. We have completed the core technical testing for this luxurious ocean liner. The ship's hull will be wider than hulls on most passenger vessels, which will give our residents on this ocean liner smoother sailing. The hull was also modified to be more environmentally friendly. As a result, we have a more fuel efficient hull and propellers that will move through the ocean more quietly and sensitively."

The President of Samsung Heavy Industries Mr. Roh In-Sik remarked "This is a significant event in the building of UTOPIA and a significant milestone for Samsung as we further penetrate the passenger ship market internationally. With this investment in The UTOPIA, we come closer to producing the world's most luxurious ship."

For several months, engineering teams from Samsung and UTOPIA worked together in Korea where Samsung owns the largest commercial hull testing facility in the world (SSMB). The final tests have just concluded successfully.

Samsung President Mr. Roh In-Sik also remarked "Samsung selected its best engineers companywide for The UTOPIA. There are over 70 engineers and technical personnel working on The UTOPIA."

Captain Ola Harsheim, the UTOPIA Vice President of shipbuilding commented "The successful completion of these hull tests has proven the technical viability of our ship. These tests go way beyond any computer model or simulations because they are physical tests on water. The completion of these tests is very exciting for our resident community. The widening of The UTOPIA hull and the inclusion of four stabilizers make our ship unique and will maximize the comfort for our residents and guests."

Photographs of the hull testing are available for viewing at UTOPIA's Rodeo Drive showroom in Beverly Hills at 421 North Rodeo Drive, Beverly Hills, California, USA

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6491088&lang=en

CONTACT:

UTOPIA
UTOPIA International Media Relations:
Media Relations Department (day or night), +1-315-294-5031
or
Jason LeGaspe or Sheila Xia, +1-310-270-4777
UTOPIA Website:
www.utopiaresidences.com