A GREAT YEAR FOR AUCKLAND AND NEW ZEALAND

"The America's Cup is one of many events that Auckland and all New Zealand have to look forward to as we approach the new millennium," Prime Minister Jenny Shipley said today.

"The organisers, the teams, the public, the media and the sponsors are all coming together for an action packed year ahead."

The Prime Minister was speaking at a special presentation of a $10 million cheque to the Auckland Regional Service's Trust as the Government's contribution towards the construction of the America's Cup Viaduct Basin development.

"These facilities will be a great asset for the Auckland waterfront and the central city for many years to come.

"The America's Cup is not only a chance for New Zealanders to celebrate our sporting prowess, it is also a huge opportunity to promote New Zealand as a dynamic tourist and business destination," Mrs Shipley said.

"The spin-offs for New Zealand tourism from the America's Cup are enormous.

"The series is already being profiled in many of our major markets, and we need to make sure that even after the event New Zealand is foremost in the minds of those high spending visitors we want to attract to our country.

"The America's Cup is one of the many opportunities we ahve next year to profile ourselves to the world.

"In 1999, Auckland will also host the Asia Pacific Economic Cooperation (APEC) forum - one of the world's most important international political conferences of the year.

"APEC will bring to Auckland the leaders of Russia, China, Japan and the United States of America, and the leaders of the other 17 leading Asia-Pacific economies, including New Zealand.

"It brings tremendous pressures and challenges for Auckland but also great opportunities to demonstrate to the world what Auckland - the Pacific City - has to offer as a dynamic tourist and business destination," the Prime Minister concluded.