Ambassadors and Windstar Sale Process Proceeding as Planned

Ambassadors International, Inc. AMIE today announced that Windstar Cruises' luxury yachts are sailing as scheduled and all Windstar fares and reservations, including charter contracts, are being honored. U.S. Bankruptcy Court for the District of Delaware granted permission for Windstar and Ambassadors, among other things, to: Maintain all of Windstar's customer programs and policies and honor all Windstar fares and reservations, including charter contracts; Provide commissions and payments to travel partners as usual; and Pay employees and crewmembers in the usual manner and to continue their benefits without disruption. The Court also granted interim approval of the company's debtor-in-possession financing (DIP) facility. The court's approval authorizes Ambassadors and Windstar to access $5 million of new working capital financing on an interim basis, which can be used to help support Ambassadors' and Windstar's continuing operations and will provide liquidity during the sale process. A hearing for final approval of the DIP financing facility and access to the full $10 million of new financing thereunder has been scheduled for April 26, 2011.